Company registration number: 03684583 Charity reglslratton number: 1073674 YMCA Cornwall (A company Ilmlt6d by guaranlee) Annual Report and Flnanclal Stal8m8nt8 lor Ihe Year Ended 31 March 2024 *ADHB0UOA• 0511212024 COMPANIES HOUSE A07
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YMCA Cornwall Contents Trustees Report 1lo9 RaferencK9 and Admlnlstrallve Details Statement of Trustees, ResponsibltIeS 10 Independent Audltors, Report 11to14 Slaternenl of Financial Adivilie¥ 15to18 Balance Sheet 17 stalement of Cash Flows 18to19 Note8 to the Flnancl81 Ststèmènts 20k)41
YMCA Cornwall Trustees Report Th8 trus166s, who are directors for the purpose8 of (MpanY law, presenl the anhual raport together wllh the finandal statements of the Charllable company for the yaar ended 31 March 2024. ObjeGtivag and actlvlti•8 YMCA Cornwall Mlsslon Statement To provlde safe and supwied houslng for young pgople aged 18-24 who 8ro homeless or al rlsk of homelessness, offer a siablè 8nNironment. dedicaled guldance, and actass lo reerealional f8ciltlies to support the so(ial wellare of our residents. Our aim is lo empower young people to build. a secure foundation for independent Ilving, maintsin education. and securo employment, thereby improvino their overall quality of life. AS parl of an Inlernallonal Chrlsllan Movement, YMCA Comwall 18 committed lo recognising the equal value of all Indiwduals. WÈ airn to serve the local Communlty, with a locus on young people. by providing a stirnulaling and supportlv8 enronment thal enables them to enrich Iheir lives and contribute posltl¥ely to the fives of others, ObJe¢ts and alms Th8 oblécts of the charfty as defined In the Memorandurn and Artlda8 of Associalion (revisod December 21Y22) are: 1.T¢ advance, enable and empower peo of ali ages and In partlejjlar young people, to flourish through exparlendng and respondlng to the care arKI support. 2.To provlde resldenlial accommodation, Indudlng Soclal Houslng, fof people of all ages and In particular young people. who are in need, hardship, or distress by reason of Ihelr social, physical, emollonal. or economlc circurnstancas. 3.To advance and enabl8 Peo8 of all ages and In partI18r young people, io be empowered to Ihrlve Ihrough experlenclno hlgh quallly support. 4.To provlde or asslsl In the prothslon In the Interests ol sodal welfare of facllllles for recreatlon and other lelsure tlme occupalion for all wlth the oblect of Improving their condilions of li 5.To provide or a58181 In the provislon of edu¢allon for people of all agos and In partlcular young people. with the object of developing thelr physlcal, mental. or emotlonal health. 8.To relleve or a8slst In the rellef of people of 8118g85 and In parti(xJl8r young people, who arn In condillons of need. hardshlp, or dlstress by reason ol their sodal, thyslcal. emollonal, or aconomlc circumstances. Page 1
YMCA Comwall Trustees Report Tho YMCA Is 8 Chrfslian Federatlon and weloomes Into Its fellowshlp persons of all fellglous faiths and of none. In accordAncè V•ilh Its Chrtsllan values lh8 YMCA stands for. • A wOr1ld6 fetlowship based on the equal value of all persons., Respect and freedom for all, tolerance and underslandlng between people of differenl opinlons.. . Activé concem for Ihe needs t)f the eommunlly, . Uniteil effort by Chrlstlans of different traditions. As the expresslon of Its Chrlstlan purposes the YMCA alms lo.. • Provlde a welcome lo ils membern for ¢hemselve8 in a meeting place whlch is Ihelrs to shhre, where friendship5 cBn be rnado and counsel sought., Develop aelivities whrth stlmulate and challenge members In an envlronmenl Ihal enables Ihem to take responsibllily to flnd a sense of achievement; Involve all members In Ihe care and wot of others: • Create opportunllles for exthanglng vl8w$ 80 that members can Improve thelr understandlng of th• wortd, of themselves and of one anolher. ObJe¢tlvas, strategles andactlvldes YMCA Comwall has devek)pèd tm main areas of seivice in order to achl8V8 Its alms: 1) Youth Houslng 2) Youth and Communlty Publk b•n8fll Th& main areas of charitatyle aCtilY undertaken lo lurth8r publlc b8nafil are the provlsk¢n as follows: Youth Houslng - Involve8 Soclal Houslng for 16-25 year-old8. Houslng Ad, Counselllng and Resettlement; . Youlh and Communlty work- Invomng youlh dubs and aduft acllvltles, Including provlding affordable room hire facAlitles for othér communily groups. The Iruslees LX)nfirm Ihal they have complied wlth the requlremenls of Seetlon 17 of Charftles Act 2011 10 have du8 regard lo the public beneflt guldance publlshed by thè Charfiy Commlssion for England and Wale8. StruetUrn governance and man•goment Natur¢ of governlng doeumènt The charity is reglslered as a charitable company limiled by guarantee 8nd w85 sel up by Memorandum of As8odallon dated 4 Decemb8r 1998 (rèvised Oecember 2022) and 1$ raglslered charity number 1073674. In the evenl of the company beirtg wound up memberyd are requlred to Contribute an amount nol exceeding £1 each. Pag• 2
YMCA Cornwall Trustees Report Recrullment and appolntment of trustées The Dlreclors of the company are also Charlty Trusl8és for the purposes of charlty law and under the companrfs Artides are known as membets of the Management Committee. Under. the Requlrements of the Memorandum and Artideg of Assocjalion the members of the Management Commillee 8re elected lo serve for a period of three years after which Ihey musl b8 re.elected at th8 next Annual Géner81 Meeting. Due lo the nalure of focus, sodal housing for soung people and youth aclivilies make up much of the charitrfs work and, inewtably. the organisalion's focus is on young peoFa. The Managemant Commitlee seeks to ensure that the needs of these gr(wp$ are appropriatety retle¢ted through the diversity ol the truslee body. Inducllon •nd trnlnlng of tnMtee¥ New trustees are Invtted and encouraged to attend a short tralnlng 8esslon (of no mt)re thaD an hour) lo famillarise themselves ¥4ryth the chariiy and th8 context within whlch il operates. The Chair of the Management Committee or Ihe Chief Exewlive of Ihe charity can cover and lead these.. . The obligations of Management Commlttee members., Th8 maln documents whlch Set out the operatlonal framework for the tharfty Indudlng Ihe Memorandum and Artlcl8S: . Resourclng and the cuffent financial position a$ 3el out In the lalest published accounts: . Future plans and oblecllves. The YMCA Comwall Tnjslee Inductlon pack. last revlewed In 2022. draws InformaOn from tho varlous Charity Commlsslon publi110n8 slgnposléd through the Commlssion's ouide "The Egsenlial Trustee" as a follow up lo these ses5ion8. Thls 18 dlslributed lo all new trustees along wllh the Memorandum ond Artldès and th& lalesl flnanci81 slaternents. Organlsatlonal structure YMCA Comwall has a Management Commlllee consisllng of a body of membern who meet quarterly and arè r8sponslble for the slraleglc dlrecllon and pollcy of tha charfty. The Members ara Irom varlely of professlonal backgrounds relevant lo the work of the Charlty. The Secretary also slts on the Commlttee Ixrt has no vollng rfghls. A scheme of delegalion 1$ In place, wlth d8y-to4ay responsiblNty for serrfke provlslon resllng with the Senior Management Team, whith Includes the Finance Manager. Houslng Manager, and Corporal8 Seprflces Managèr. The Senlor M8nag8ment Team Is a¢x¥Juntsble'for ensuring that lh8 eharfty dellvers Its se¢03 a8 spedfied and m8els kèy performanca Indlcatorn. They also overs66 th& operalional managemenl of thelr respecllve deparimenls, provide indlvidual supervislon to staff. and ensure thal the leam continualty develops Ils skllls and worklng prdcllces in line wlth best prdctices. Relatlonshlpg wlth related partles In allgnm8nl wlh the charlvs obleclives, Ihe organls8tlon Is gulded by both local and naonal pollcles where relevant. Page 3
YMCA Cornwall Trustees Report Reference and Administrative Details Chlef Executlve Officer Davld Hall-oavles (Rèslgned 8 October 2023) Tru8tse• Nlcola Hemsley (Chalr) Der8k Tilby (Vic£ Chaire) Penny Mams Hudson Smilh Chrls Seamarks ffreasurer) {resigned 25 Aprll 2024) David Leah (Resigned 1 August 2023) Zena Mulh (Appolnled 25 January 2024) Palrfcla Woodfield (Appointed 25 September 2024) David Hall.Davles IResigned 8 Oclober 2023) Loulse Karen Mallas {Appolnled 25 January 2024) 1073674 S¢crotsry Charlty Regl$tratJon NuMr Company Regl•trallon Number 03684583 Princlpal OIIIGè The Orchard Alverton Road Penzance Comwall TR18 4TE Audllor PKF Frnnds Clark ststutory Audltor Lowin House Tregolls Road Truro Comwall TR12NA Coodes Solicltors 450 Morrab Road Penzanc8 Comwall TR18 4EX Sollcltors: 8ankern CAF Bank Llmlled 25 Kings Hill Avenue lfjngs Hlll Wesl Malllr Kent ME19 4JQ Page 4
YMCA Cornwall Trustees Report Achievements and perfomiance YOUTH HOUSING Cherrytree House. Appletree House, St Levan, Morrls House (Supported Houslng Projects) Appl8lree and Chérrytree House$ are purpose-built. salf-conlalnod accommodallons pro¥idin9 supported housing for 22 youno people. Appietree Housé, opened In 1994 In partnershlp wlth YMCA England. and Cherrytree House. opened in 2004 in partnership wilh Permilth Housing Associatlon (now Livewestl, senie as vltal resources for vulnerable youth. In March 2023, we successfulty pur¢h8sed CheTTrrtrée House from LlvaW8sl. securing its lulure use and enabling us to contlnu8 developlng and modemlzlng the property foi the benefll of the young people In our care, Morls Housè created by convertlng a former sports hall on our maln slte Inlo 20 self-conlalned nats 8UOS6 three floors, Thls prolecl was completed in July 2021 by our skilled In-house malntenance team, wilh a recenl upgrade lo the roof slruclure ensurlng Its long-tem vfabilily. Our St Levan Ilals offer tour short-tern rooms wllh sharéd kllchen And balhroom facS1ilig$, providing temporary 8c¢ommodallon for young peopl8 al ri$k ol homel83sne8i while a sullabla long-t8mi housing solution Is found. Support workers contlnue to as8181 these young pèople In PTeparing lor Independenl liwng wilhln the communily. Young people aged 1&25 can remain al Ihesa proiects lor up to h¥0 year8. Movo-on Flat• In Oclober 2008, Penwllh Houslng Asaoclallm. n¢)w part of LlveWe31, Integralad lour flat$ from thelr general needs stock Into a man8gemenl a9reemenl wilh YMCA Cornwall. Thesè Ilals play a vilal role as movfron accommodatlon for young people transmonlng oul af supported housing after Ihelr trwo•year stay. Thls collaboratlve effort ensures a eonllnuum of caré, supporting young Individuals as they progress from supported housing to more independent Ilvlng arrangements, f08terlng a srnooth and 8U8talnable transition. All the aforementioned projects are flnand8lly susl8ln8d through the 8UPPOrted houslng setvlce and renlal in¢om8 Ihey generate. During thls financial year. these initiatives have been Inslrum8nlal In 8UPPOrtlng and provldlng accommodallon for 8 lotal of 91 young Indlvlduals, Includlng th08e who were Sllll residents Bt the end of Ihe year. The financlal sustainabllSty of these prolects highllghls Ihelr commrtment to deliverin9 essenllal seNices and maintaining a stable liwng enmronment fcr young people In need. Hou81ng AdvlcelResettlement The YMCA Cornwall Houslng Advice and Resettlemenl Servlce conllnues lo perform well, The post h98 been Incorporated Inlo Ihe general seNices available lo young peopl8 and predomlnantly serves the 16.25 yearwold client group. From Aprll 2023 until March 2024 advlca and a88lslance has bee given to 129 young people. Page S
YMCA Cornwall Trustees Report Room Hlre YMCA Cornwall Is dedlcated to offering excellent. affordable room hife facilities for various cornmunily groups and local organizations. Additionally. we provtde office rental spaces for respected partners such as the Liberal Democrats and Citszens Advlce. Our commitment lo providing accessible and hloh-qualily fadllties supports Ihe divers8 neèds of our cornmunlty, f081ering collaboralSon and engagement, Alrplay - RAF St Mawgan As part of a n6tworf( of YMCA organlzations arJoss the country, led by Ono YMCA, YMCA Comw811 has been delivèdng a youlh club program al RAF St Mawgan under the broader RAF Benevolent Fund contract. Aiiendantx ha8 been steadily Improving year on year. desiNle an initial slow start dua to the Impa¢l of the covir>19 pandemic. Flnanclal Raviaw Durlng the yaar the Chayity ntInUed lo dolOp Its servlc8s. ThSs ar 11 ha8 generated an ¢)ver811 deflcil for Ihe year endlng 31 March 2024, whlch has created a net decrease In funds of £21,578 (2023.. £105,691). A deficn 01 £5,286 (2023: surplus of £17,193) relaled to reslrlcied funds has been general and wfll be carried forward lor ongc4ng projecls. Unre8ldcted fund$ hava crealad a deficll after Iran8fer8 of £16,292 (2023.. £122,884) durlng Ihe r. As at 31 March 2024. unrestiicted fvnds stood al £412,878 (2023.. £429.1701 including a dosiqnaled unraslricted fund of £54.472 (2023.. £54,472). Reslrlcled funds lotslled £252.175 (2023: £257.461) at 31 March 2024. Qurfng Ihe year r23,001 was spent on lundralslng In lospect of pur¢haslng Cafe supplle5. In(x•me ralsed Irom the cafe lolalled £30.730 resulting In a £7,729 {2023.' £7,513) profrt for the year. Regerves Pollcy The Management Commltlee has examlned thè charfl5ls requlrements for res8rve8 Sn Ilghl of the maln rlsks lo the organlsatlon. It has eslabttsh8d a pollcy of whereby the unrestrlded lunds nol eommllted OT Inve51ed In tangible nxed assels held by the charlly should be betr4veen three to six M(u of ihe core expandiluro. The reserves needed lo meet the working cApllal requlrements lor the tharlty and the Managemanl Commlllee are confident Ihal at Ihls level they would be able to conllnu• the cajrrenl acllvlties of the charity In Ihe event of a slgnlficant drop In fundlng. 8udgeled cwe expendlture for 2024r25 Is £1,186,000 and therefore Ihe targ81 18 £296,500 to £593,000 In free unrastii(#ed reserves. Current, free unrestricled reserves (excludlng tgngibk fixed assels and long lerm loans over 1 year) are (£89.639) and therefore nol wllhln the target range. We alm over the next years to accrue at least £100.000 free reseples and the Board has established an expectation thal, apart from development of services. every prolect or seNtce must go Into a n8W financial year wrth a balanced budget. Ovor Ihe Comlng finandal year we expect to brfng the free reseNes doser to the agreed largel range. Page 6
YMCA Cornwall Trustees Report Inv061m•nt Pollclas and ObJectlvo$ Under the Memorandum and Articles of Association the Charlty has the power to invest in any way th8 Trustees wish. The Trustees. havlng regard to Ihe liablllly requiremenls of operatlng the organlsallon and lo the reserves pollcy, ha operated a policy of keeplng avallable fiJnds In an interest-bearing deposll account. Risk Management The Managemenl Commfttee ha8 carrled out 8 comprehenslve assessment of the key rlsks laeAng the charlly. A carèfully m8intaSned rlsk register Is regularty revlewed by lh& Board lo ensure ongoing oversight. To mitigate Idenllfied rlsks, the charity has Implemented robust systems arKI pr(dureS tailored for effecllve risk management. In response to slgnlficanl external funding risks. a straleglc plan has been developed lo divèrsify fvnding Sour and bmaden the $oope of aclivltles. Intern81 control rlsks are proaclively managed Ihmugh strict enforcement of procedures, ensurlng that all transactions and prolecls are property aulhorlsed. The organlsallon Prforillse5 the health and safely of staff. volunteers, dients. And Msilors. wilh comprehenslve wocedures in pla lo ensure full compllance. Recognized for Its o)mmltment lo excellence, YMCA Comwall was awarded the Investors in People accredilalion in June 2014 and achieved Silver slalu& In 2017. Addilionally. il conslslenlty meets LoeAI Aulhorlty health and Gafely standards {CHAS) and malnlains a Gold standard In the Healthy Workplace Award. Golng Conc•rn YMCA Cornw811. Ilke many organisalions, has been Impacted by the curfenl hlgh Intlatlon and cosl of ling crlsis. Howevar. as we had already revlewed staff salartes prlor lo Ihase challenges. our pay revlew for Ihe current perlod allgns wllh our Inme Increases. Looklng ahead. are now reassessSng our salary slructurn and organlsallonal frameworft to Infomi future budgels, Fortunately, we have been shlelded from the recent surge in energy prlces, as we secured favourable eleclriclly and gas deals belore prices splked. While our electricAty conlract has been renewed 8t a hlgh8r rate, the mafkel has since stabilised, and our currenl gas contract is locked In unlll January 2028. Thé purchase of Chorrytree Hou89 initlally slralned our cash flow, Mpounded by Ihe additlonal funds required lo relurblsh the bulldlng to match the hlgh slandards of our olher propertles. However, Ihrough a car8fully Implemenled recovery plan-whlch Included minlmlslng vacanGie8. 18unthing a marketing campalgn, and engaging in community fundralsing-we have begun to see a posiliv8 shifl In our reserves posl year end. After conductlng a thorough analysls of our finanaal prolecaicffls. we anlicipale signlficant Improvements in OLtr flnanaal poslllon by the end of the financial year, concludlng on 318t March 202S. Page 7
YMCA Cornwall Trustees Report Plans for future porlods Alms and key objectlves for future perfods YMCA Comwall conslstenlly delivers hlgh-qualily sarvieÉ$ a¢xoss all Ils prolects, supportad by a dedicated team 0129 slaff members and an annual lumover of £1.101.752. The scope and standard of118 sénilces have expanded signific2ntty. establishing YMCA Comwall as a leading providèr In the Youth Supported Houslng and Resettlement sector. Thls growlh and development have been 8ccompllshed Ihrough 8 Straleglc and coordlnaled approach. However. YMCA Cornwall's work Ss far Irom (Inlshed. A sgnificanl number ol individuals remain socially exduded, and the organlsalion's future prioritles musl focus on houslng, whi¢h 18 projected lo be the mo81 crrtlcal issue over Ihe next decade. In 2019, YMCA Comwall undertook a comprehensive vIeW and rèvislon of Its Strdleglc Buslness Plan. wllh a focus on developlng measurable targets to guld8 Its straiegy and further evolve the organisation into a dynarnic and successful charity dedicaled io serving the needs of young people In Cornwall. Th6 plan Is scheduled for re¥lew In lal8 2024 and wlll servg as a foundallon for the long.term benefit of the Assodallon, its fflémberB, and the yvuth ol Comwall. Addillonally, tt wlll provlde a framawork for as8esslng our impael on the communlty and demonstrating the p4th11c benefit, which the Trustefrs carefully con8id8r V delermlning the Chorlvs actlvltles. Th8 Trustees confim that they have o)nsulled Ihe Charily Commlssion's general guklance on publlc benefit when reviewlng the Assoclatlon,? objectlves and a(alvitles, as w811 as In prannlng fulura inllialives and projeds, The chariws prlmary activiiies are outltned above. Ovèrall Stsategy YMCA Cornwall seeks to be a count*wldè slgnfficant organlsallon, TecAJgnlsed lor Ils rasponslvene3¥ lo local needs. WO are commllled to nIlnUallY enhandng the quallty and scope of our programm8s and actlvilles by: . R8searchlng and d8veloplng new Inlllatives and InComeeneratIng OPPOrtunltles. • Offerlng engaglng anrj 8ppealSng programme optlons. Investing In our staff. facAlilles, and resources. • Building a strong financlal foundation for future growth and davelopmenl. Our objectlves includ8: . Promotlng and elevatlng our prollle and Influence as a leadlng county-wldé organlsation. Responding to local needs and en8urlng our servbces meet thè requlrements of Indlvlduals and ¢ommunllles. • Strengthening partnershlps wilh ag8nd88 and stakeholders. Proactlvaly Implementing Innovative business ideas. programmes, and acmles based on Idenllfflèd needs. • Managlng rlsks effectively and adapting to evofving r4rcumslances. P8g8 8
YMCA Cornwall Trustees Report Dlsclosure of Inforniaiion to auditor Each Iru8lea has taken steps that they oughl to have tak8n as a Irus18e in order lo make Ihemselves aware of any relevant audil information and to establish that the charitvs auditor Is aware of that informatlon. The Iwslees confirm that there Is no relevant Information that they know of and of whith they know the auditor Is unaware. Small companles provision statement This report ho8 been prepar In accordancè wllh tha small companles reglme under Ihg Comp8nles Ad 2006. The annual report was £pprovgd by the Iruslees ol the chadty on behalf by". 20111 nd 61gned on Its Nlcola Hemsley {Chalri Truslee Pege 9
YMCA Cornwall statement of Trustees, Responsibilities The Iwslees (who ar6 also Ihe dlr8clors of YMCA Comwall for the purposes of company law) are responsible for preparlng the trustees, report and the Ilnandal slalements in accordanc8 wllh applicablè 18w and Uniled ngdoM Accounllng Standards (United Klngdom Generally Accled Accounting Practi). Induding FRS 102 'The Flnandal Reportlng Standard applieable In thé UK and Republic of Ireland" Company law requlres the knjslees lo prepare financlal stgtem8nts lor eath financlal year. Undar company law the truslees must nol approvo the finandal st8lements unless they are satisfied thal they give a Irue and fair vtew of ihe slate of affairs of the charilable company and of the Incomlng resources and appllcation ol r8source$, indudinll Its Incom8 and expenditure, of the ch8ri18ble Crnpany for Ihat perfod. In preparing Ihese financial sialements, Iho Iruslees are requlred to: select 8uilable acLounting wlicies and apply them conslslently, observe the methods and prlncaples In the Ch8lTlies SORP., make ludgements and estimates Ihat are reasonable and pNden( stale whelher applicablg acMunting slandaid8. cornprfslng FRS 102 have been foll¢Med, $ublÈd lo any malerfal depariures dlsclosed and explalned in the financial statements; and preporé Ihe financlal s181nnIS on th8 golng eoncèm basls unless11 Is Inapproprlats to Presumè that the charitable company VAII conllnue In buslness. Thè trustees are responslble for keeping propel auntIng records that can dlsdose wlth ieasonablè accuracy al any Ilme the finandal posillon of Ihe ch8rltable company and énable them to ensure thal Ihe financlal slalements compty wlth the Companles Act 2006. They ar6 also reonsIble lor safeguarding th& assets of th8 tharitable company and hence for t8klng reasonable steps for the prevanllon and deledon ol fraud and other Irregulaiitles. The Irustees are responslble for the maintenanc and Integrity of Ihe CO1& and finaniial Inf0MtIon indud8d on Iha tharli8bl8 companys webslle. Leglslallon govemlng Ihe prepaTallon and dissemiftallon of flnanclal sLitements MAY dlffef from leglslalion in olher lurisdicts'ons. Approved by Ihe Iru8tee8 ol tho tharfty on ..... Nlo)la Hemslay (Chair) Trustee Pa98 10
YMCA Cornwall Independent Auditorfs Report lo the Members of YMCA Cornwall Oplnion We have audlt8d the financlal $18temenls of YMCA Cornw811 (Ihe 'CharlI for the year ended 31 March 2024. whlch )rnprise the Statement of Finandal Aclivilies, Balance Sheet, Statement of Cash Flows, and Notes lo the Financial Slalements, Including a summary of significant accounting polldes. The financial reporting frÉmework thal has béan applied n their preparalion is United Kingdom Accounllng Standard5, comprislng Charilles SORP - FRS 102 'The Financial Reportlng Standard appllcable in the UK and R?PLFbllc of Ireland. and appllc4qble law (Unlted Ktngdom Generally ALpIed Acc4)unllng Practice). In our oplnlon the finandal slatemonts: glve a true and falr eW of the slate of th8 ¢harltYs affalrs as at 31 March 2024 and of lis Incoming resource5 and application of resources, including Ils Incnme and 8xpendilure, for Ihe year then endéd., have been propèrfy praparad In accordan with Unlled Klngdom Generalty Accepted Accounllng Practice: and have been prepared In a¢¢ordance with the requlremenls of the Companles A(a 2008, Basls for oplnlon We conducted our audit In acrdAnCe with Int8mational Slandards on Audlllng (UIQ (ISA$ (UK)) and appll¢able law. Our responslbllitles under Ihosa sland8rds are further de$u7bed In the audlior responslbilities lor Ihe audit of the financial 81atements secllon of our report. We ere Independent of the charlty In accordan¢x wlth the ethlcal requlrements that affj relevanl to our audlt of the flnandal stat8menls In the UK, in¢luding the FRC'S Ethlcal Standard, and we have lulfilled our other elhlcal rnsponsibilitles in acts)rdance wllh Ih8s8 requlremenls. Wé belS8v8 that Ihe audlt evtdence have obtalned Is suffl¢lenl and approprfale to provlde a basis for our oplnlon. Conclusion8 ralallng to golng concern In 8udltin9 th8 finandal stal&menl8, wé have conduded Ihal the Iru8t8es u88 of Iho goinu concem basls of arLourbllng in the preparnllon of the finandal sl8laments18 approprlata. Based on the worf( we have performed, we have not Identified any materfal uncartalnties relatlng to events or condillons that. Indl¥rfdually or collecllvely. may cast slgnlfic4nl doubl on the charfly's 8blllty lo eonllnue as a going conc8rn lor a period ol al least Iwelve months from whèn thé orlginal financlal statements were authorlsad for issue. Our responsibilities and the r8sponsibilit16s of the Iruslees with respe¢X to golng concem ar• doscrlbed In Ihe ral8wanl 8e¢llons of thls report. Oth•r infomiatlon The Iruslees 8re responslble for the other Information. The other Infonnation compris88 the Inform81Son Induded In the annual report, other Ihan the flnanclal statements and our audllorfs report thereon. Our oplnion on Ihe financi81 stalemenls does not cover the other Information and. excapt to the axlenl otherwlse explldliy slaled in our report, we do rKIt exprgss any form of assurance condusion thereon. Page 11
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Cornwall In connedion with our audll of the finandal stalemenls. our responslbllity Is to read Ihe other inforrnabon and. in doing so, consider whether the olher informats'on is rnalertally inconsislenl with the financial statements or our knowledge oblained In tha audit or oth8Th¥lse appears lo be rnalerially misslaled. If we idantlfy such malerial inconsi$tencie8 or apparent malerial mlsslatem8nls. w8 are requlred lo d8lemiln8 whether theré is a matarlal mlsstatemenl In lh8 finanelal statemènts or a fflaterial misstalemenl of Ihe other Infomiation. 11, based on the worf( we have p8rformed, we condude that there 18 a malertal mlsslalemenl ol this other infomialion, we are requlied to report th81 fact. We have nolhlng lo report in th18 regard. OplnSon on oth•r matt•r pres¢rlbed by the Compan1•8 Act 2006 In our oplnlon, based on the work undertaken In the course of the audll: the informalion given in the Twslees Report for the finanal year for which the financial statements are prepared Is ¢onsi5lent wllh Ihe fin8nLial statements,, and the TNstees Repart has beén prepared in accxjrdance wllh appllcable legal requlremenls. Mattern on whlch we ar• r•qulrnd to r•port by •xc•ptlon ln the IwJhl of our knowledgè and understanding of Ihe tharity and Its environment obl8ln8d In Iha course of the audll. we have not Identlfied material mlsstalements in Ihe Tnjslees Report. We have nolhlng to report In fespecl ol Ihe fouowing matters whern the Companles Act 2006 requlr88 us lo report to you if, In our oplnlon.. adgquate 8(xounllng records have nol been kepi. or rBtum$ adequale for our audlt have not been recelved from branches not vlslted by us; or the finandal slatemenls are not In agreement wllh the accounting records and retums; or certain disclosures of trustees remuneration spedf*d by law are not made., or we hava nol raeelved all the Informallon and explanatlons wa raquir8 for our audll. lh8 dlreclors were nol enllllad to prepare the finanoal statements in accordance wlth the small comp8nles regime and take advanlage of the sm811 companles, exemptlons In preparfng the dIreOr$, report and from thé 18qulYemenl to prep8rB 8 8lr8lèglc Mport Responslbllltles of tru8leas As explalned more fully In Ihe Slalement of Tiu$tee$' Responslbllllles (set out on paoe 10). the trustees aré responslble lor the preparation of the flnanclal stalemenls and for belng sallsfied Ihat they glve a true 8nd falr ew, and for suth intemal control as the Iruslees determine Is necessary to enable Ihe preparation of financlal stalemenls th81 ar8 free from malerfal misstatement, whether due to fraud or érror. In preparing th8 finan¢lal statements, Ihe trustees are responsible for assesslng the charfly's ablllty to conllnue as a golng concem, dlsdoslng. as appllcable. matiers related lo going concern and using the golng concarn basis of accounllng unless the truslees either Intend to Ilquldate the charlty or to cease operallons, or have no realis¢ altamallve bul lo do 60. P•ge12
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Comwall Audltor re8pon8ibllllles for the audit of the flnancial statements Our objeetlves are lo oblaln reasonable assurance about whether the financial statements as a whole are free from malerlal misslalement. whethèr due to fraud or error, and lo issue an audltofs report that Includes our oplnion. Reasonable assurance is a high level of assurance, but is nol a guarantee that an audit conducted in accordanr£ with ISAS (UK) will always deted o maleTlal misstatement when il exisls. Misstalemenls can arfse from fraud or eFror and are considered maleiial if, indlbidually or in the agggate, they Uld reason8bly be éxpected lo knfluence the economlc decislons of user3 taken on Ihe basts of these finandal slalements. Irregularities, Induding fraud, are instan$ of non-compllance with laws and regulallons. Wg design procedures In Ilne wilh our responsibllllies, oullined above, to dgteci material misstatements In respect of Irregularities. including fraud. The extent to which our preduleS are capable of delecllng Irregularilles. induding fraud Is dèlailed below.. As part of our audlt plannlno we obl8lned an under8tandlng of th• legal and regulatory framèwot1( that Is applicable lo the charity and Ihe seclor in whlch it operates to identify the key laws an(1 regulaliorns 8ffectlng the enlity. The key laws and regulatlons kleniified were health and safely, salegu8rding, data proleclion, employment law, the Sodal Housing Regulation Act, and compllanrA wlth grant lundlng ojndillons. We also consldered those laws and regulatlons that have a dlrect Impact on the preparation of the finanoal slalemenls, primarily the Companles A(a 2006, Chafilies Act 2011 and ¢omplian¢e wilh the Charitiés Slalement of Recommended Pracil¢¢. We discussed Wkth management how thè compllance with ihese and regulallons 18 monitored and discussed pollcles and proceduros In plac*. We also Id6ntified the individuals who have responslblllly for ensurfng Ihal the enllty complles IMtt)18w$ and regulatlons 8nd deals wtth rèportlng any Issues if Ihey arlse. Wa assessed the 3U8ceptibllily of Iha charfvs financlal statemenls to matellal mlstalement, Induding how fraud mighl occur as part of the audlt plannlng process. We daterminad thal these rf$ks are low consldertng the fact Ihal th8 charily opw8tes on a not for prollt ba$18 and so there would be no mollvallon for management to Inlluence pgrformance for Individual galn. Based on Ihls understandlng we deslgned our audll procedures lo Identify non4ompllance vAlh such laws and regulations. Our procedutss invohfed the folbwlng: ' We review8d lègal and professlonal costs lo Idenlfy any nonrycompllance or legal costs In relallon to non-cfjmpliance. W6 reviewed the board minutes for anyihing unusual. ' W8 made enquire3 to man8gamenl regardlng iheir knovAedge of any non-MPlianca laws and ragulatlons that o)uld affect the flnandal slalement8. We reviewed a sample of expenditure to ¢onfirn It ha8 been incuryed and allocated lo the approprfale fund. ' We revlewed thé rlsk reglsler for anwhlng unu8uAI. We 8udlled the risk of management overrlde of ntrOl8 through lesllng Journal entrEes and other djuslmenls for appropriatenes5. As part of our enquiri8s we di$8$e with management whether there have been any known inslanr£s. allegations or suspicions of fraud of which Ihere were none. Paga 13
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Cornwall Because of the inherent limitations of an audit, there is a risk that w8 711 not d8lect all Irr8gularflla$, Including those leading lo a matetlal mlsslatement In thè financial slalemenls. Thls rlsk Increases the (urlher removed non-compliance wllh laws and regulations is from Ihe events and transactions reflected in Ihe financlal slalemenls as we are less likely lo become aware of instances of nonThcomplianc4. The risk of not detecllng 8 matertal.mlsslatement due lo fraud Is hlaher than Ihe risk of not delecting one resulting from eOr, as fraud may invol¥e dèliberat8 concealment, collusion. omlssion or misrepresenlalion. A lurther descripOn of our responsibililies is available on the Finaneial Reporting Coun¢.8 webslie al: vrt¥w,frc.org.uklaudilorsresponsbi ililies. This de8crSpiion lorms part ol our audllorfs report. Ug• ol our rnport Thls ieport Is madè solely io the ch81itable cKJmpanYs members as a body. In accordance wlth Chapter 3 01 Part 18 ol ihe Companies Act 2006. Our audbl work has been undertaken so that we mlghl slate lo Ihe charAy's members those matters we are iequired lo slate to them in an audilorfs report and for no olher purpose. To the fvllesl extent permltted by law, we do not attept or assume responslbilily lo Anyone other Ihan the tharliable company and Ils marnbets as a boo¥. for work, for thls report. or for Ihe oplnlons we have fom)èd. Darren Perry BA iFlonsj ACA DChA (Senlor Slatutory.Audltor) PKF Ffancls Clath, Slalutory Auditor L¢wln House Tragolls Road Twro Cornwall TR12NA Date., 4 December 2024 Page 14
YMCA Cornwall Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlctad funds Restrlcted funds Total 2024 Not• Income and Endowment8 from: Oonalions and legacies Charilable aclimties Oth8r Irading activitles Investment Income 12,297 1,022.531 30.730 1,397 34,797 47,094 1.022,531 30,730 Total Inffle 1,066 955 1.101752 Expendlture on: Raising funds Chatltabl8 aCtltIeS (23,001) (23,0011 1,100,329 Total 8xpenditure expenditure Net Movent In funds 1,083,24 1 123 330 16,292 5286 1.578 (16,292) (5,286) 121.5781 R¢Goncllladon of funds Total funds brought fofward Total funds caiTled forward 429.170 412.878 257.461 252 175 686,631 665,053 The notes on pages 20 to 41 foftn an kntegr41 part of Ihesg fman¢ial stalemenls. Paga15
YMCA Cornwall Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Comparatlv• Stat•mant of Flnanclal Actlvltle8 for the year ended 31 Mareh 2023 Unr•$trlcied Restrlcted funds funds Total 2023 Not• Income and Endowmon18 fiom: Donalions and legacles Charilable aclivilies Other tradlng actlvlllas Investrnent Inrne 6.823 852.905 33,093 1,999 71.539 84.362 852.905 33,093 1,999 Total Income 77,539 972,359 Expendlture on; Raislng funds Charitable act11186 (25,580) 992.124 <25,580) 1052 470 Total expendllure Nel (expenditure)Ilncome Nel movement in funds 1.017704 1078 050 122,884 17 193 105.891 (122.884) 17,193 (105,691) Ro¢on¢lllatlon ofthnds Tolal funds brought foDHafd Tolal fund8 Carrfed forward S52.054 429170 240.268 792,322 20 257 461 All of the charilY8 actlvltlas deriva from contlnulng operallons durlna the above Iwo perlod8. The funds breakdown for 2023 is shown Sn nola 20. The notes on pages 20 to 41 fom on Inlogral part of thèts flnJn¢lal slaiements. Page 18
YMCA Cornwall (Reg.istration number: 03684583) Balan Sheet as at 31 March 2024 2024 2023 Note Flxad assets Tanglble asse18 12 912.908 976,472 Current assets Debtors Investments Cash at bank and In hand 13 14 15 28.158 230 105.899 70,498 230 102,858 134.287 173.584 Cr•dllor8: Amount8 falllng due wlthln onfr year 16 101,117 120.15 Nat ¢urrnnt 4860ts 33.170 Total a88ets less current Ilabllltle8 946.078 281.025 1.028,899 342.268 Crodltors: Amounts falllng due after mor¢ Ihan on¢ year 17 Net a889ts 686,631 Funds olthe charlty: Restrlcted Unrestricted 252.175 412.878 257,461 429.170 Total fund• 20 865.053 888 831 ndal I lements on pages 15 10 41 were approved by the Iwslaes, and authorl$ed for1s8ue nd signed on their behalf by: Nlcola Hgmsley (Chalri Trustee Th• not•8 on pAg•s 20 ta 41 form an Inlè9ral plrt of tho80 flnanclal stalemenl8. P4go17
YMCA Cornwall Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Noto Cash flov from operating activities Net cash expendlture AdJu8tmonts to cash flows from non¢ash items Depredation Inveslment income Interest payable Proflt on dlsposal of tanglble fixed assets (21,578) (105.691) 101,080 (1,397) 71.654 (1.999) 1.953 5,679 72,428 (34,083) Working capital adjustments Decreasè In stocks Decreasel<ln¢rease) In debtors (Oecreaseifincrease in creditors Decrease In deferréd Incom8 1,322 (3.648) 12,887 13.889 13 16 17 42,338 (21,46n Net cash Ilows fram operallng actlvRles 93,297 37,409 Cash Ilows from Invostlng actlvltlo8 Interest recelvable and simllar Incorne Purchase of tangible fixed assets Sale ol tanglble fixed a858ts Net cash Ilows from Investing ac11110$ Ca8h flows from flnanclng a¢tlvllle$ Vglue of new loans obialned durlng the pertod Repaymenl ol loans and borrowlngs Repayment of capi181 element ol finara leases and HP contracts 1,397 (39.886) 7,049 1.999 (539,564) 12 31,440 537.$65 299,000 (37,540) 18 (61,562) 254 076 Net Cash flows from finandng a¢llvlb'es Nel in(xeasel(decrease) In cash and cash èwxwdlen18 Cash and cash equlvalenl$ al 1 Aprl Cash and cash 8quival8nls al 31 March 58,818 254.384 3.041 {320,590) 423 448 105,899 102.858 Th• note8 on p8ga6 20 10 41 form 8n Integrnl part ol these financlol slalements. Pag& 18
YMCA Cornwall Statement of Cash Flows for the Year Ended 31 March 2024 Reconclliation of net cash flow to movement In net funds Increasel(decrease> in cash Cash inflow from increase in loans Cash oufflow from repayment of loans Change in net fundsl(debt) r8sullin9 from cash flows Repayment of finance lease liabilities Movement in net fundsl(debt) 3,041 {320,590) {259.000) 37,540 51,562 54,603 7,254 (542.050) 34,877) 61,857 {576.927} 290,764 Net {debt)Ifunds at 1 April 2023 Net debt at 31 March 2024 286.163 224.306 (286.163) All of the cash flows are derived from contlnulng operations during the above two periods. The notes on.pages 20 to 41 fomi an integral part of these financial ststements. Page 19
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charfty ststU8 The charity is limited by guarantee, Incorporated in England & Wales. and consequenlty d06s not have share capital. Each of the Mernbe is liable lo o)nlrtbule an amount nol eX(edIng £1 towards the a5sols of tha ¢harlty In the event of Ilquldatsm. The address of ils reglslered oifi¢e is- The Orchard AFverton Road Penzanr Comwall TR18 4TE 2 Accountlng pollcles Summary of slgnlflcant a¢¢ountlng pollclos and key accountlng estlmat•s The prin<xpal atnIn9 polldes applled in the preparation of Ihese financ#al slalemenls afe set out below. These poficies have been (y)nsislenlly applied to all Ihe years presented, unless othepwlse slated. Statement of ¢ornpllanc• The finandol statement8 h&ve been prepared in accordance wlth Accounting and Reportlng by Charlties.. Slalement ol Recommendad Pracilce applicable to charities prepatlng thelr aco)unts In ee¢ord8nce wilh the Flnancl81 Reporting Standard applicable In the UK and Republlc of Ireland (FRS 102) - (Charities SORP (FRS 102)). the Flnanclal Reporting Standard appllcable in Ihe UK and Republk of Ireland (FRS 1021. They also comply with the Companles Acl 2006 and Charfll68 Act 2011. Ba8ls of pyeparatlon YMCA Camwall me8ts the déllnlllon of 8 publlc bénèfit enllty under FRS 102. Assels and Ilabllllles are initially recognlsed 81 hlstorlcal cosl or iransactlon value unless olheNise stated In the relevant accountlng policy notes. Golng conc•rn The financlal statements have been prepared on a golng conc8m basls. The trustees assess wholhor thé use of golng concern Is approprlale l.e. whelher there are any matérl81 un¢erfainlles related lo events or c(Jndilions thal may cast sl9nlficant doubt <)n Ihe ability of Ihe charity to eonllnue as a golng concem. The trustees make thi5 assessment in respect ol a period of one.year from the dale of approval of the financial slalemenls. Havlng coTrsldered the future Impact of Intlation, loan Venants. cashfl(M and pmjecled houslng seniteÈs Income, the trustees consider thal there are no material uncrtaintles about the charityls abilily to continue as a golng concern nor any significant areas of un¢erta5nty Ihal affe¢t the carrying value of assets held by lh& charily. Page 20
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowments All income is recognlsed once the charfty has entitlement to the Income, It is probable thal the income wlll be received and the amount of the income re¢eFvable can bè mè8sur8d reltabiy, lknnatlons and legA¢les Donatlons are recognlsed when the c8rt8inly of recipt and the amount receivable has been eslabllshed. Where the donated good Is a fixed asset, il Is measured al lair value. unle$5 R Ss Impractical lo measure this fellabty. In which case the cost of the Item to th& donor should be used. The gain is recognlsed as Income from donations and a corresponding amount Is induded In the appropriate fixed 2ssel dass and depreciated over the useful economic life In acrdneé wlih the charitable compan3 acKounllng polldes. On recelpl. donated professlon81 servi3 and facilities are recognlsad on the basis of the value of the olft lo Ihe charitable company whKh Is lh8 amount il would have been wllllng to pay to obtaln ser¥ie*s or fapilllles of equlvalenl économlc benefit on Ihe open m8rkel.' 8 cnrre8pondlng amounl Is Ihen recognlsed In expendlture In lh8 pertod of re¢elpi. Grnnts rn¢elv•bl• Grants recelvable are rèo)gnlsed In the year io vthkh they relate. Grants ara deferred vthen they relate to a spoofied future petlrJd. Olft alal Incoming resourcgs from lax redaims are Induded In (he Slatemant of Finandal Aclfvrtles at the same me as the glft lo whlch they relate. Inv•$tm•nt Income Inleresl on furKls hald on dep051t1s Induded when recelvable and the arnounl can be measured rallably by the charitabl8 company: thls Is nomally upon notiflcatlon ol the Inleresl pald or payabio by Ihe Instilullon vlth whom the funds ara déposlled. Incom8 lax Mcoverable In relation lo Inv88tmenl Incomè h recognlgad at the Ilme the Investment Income Is recolvable. Exp•ndltur• Expendllure Is r8cognl8ed once there Is a leg81 or con81ructive obllgailon lo lrnnsler economlc bènéfit lo a third party.11 Is probable thal a transfer of economic benefits will be required in settlement and Ihe amount of Ihe obllgalion can be measured reliably. Expendllure Is da$$lfied by activity. The eosls of èach acllvlly are made up of the total of dlrecl cosls and sh8r8d c0518, Inc4uding support rA$ts involved in undertaking each activity. Direct costs attrlbulable to a slngle aejivily are allorAled direclly to that acllvily. Shared 313 which contribute to more Ihan one actlvlty and support costs whlch are not attributable lo a 8ingl8 acllvity 8re apportioned between those activities on a basls conslstent wllh the use ol resources. Central staff costs ore allocated on the basls of Ilme spenl and depredallan charges allocated on the portion of the assel's use. All expendllurn Is Incluslve of Irracoverable VAT. Page 21
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Ralslng funol• These are costs incurred in allracting voluntary income, the management of Invèstments and th088 incuThed in Irading actiwties that raise funds. Charltable a¢tfvltles Charitable expenditure comprises those c08ts inujrred by the charity in the delivery of Its aciivitles and seNlces for ils baneficiaries. It Indudes bolh costs that can be allocated directly to such activitles and Ih08e cost$ of An indlrect n8lure ne83&ry lo support them. Support cost8 Support costs Include central hjncllons and have been allocaled to actlvlly Cost calegorfe8 on a bas18 conslstent with the use of resources. for example. alkjcating. property cosls by Iloor areas, or per ¢apila, staff cost$ by ihè time Spent and other costs by their usage. Taxatlo The charlly Is nSIdered lo pass the tests set oul In Paragraph 1 Schedule 6 of the Flnance Act 2010 and therefore It m8ets Ihe definilion of 8 charitable company lor UK corporatlon lax purposès. Accordlngly, the charlly Is Potenllally exempl from taxallon In r6spécl of incme or ¢apll81 galns received wilhin categories cov8red by Chapter 3 Part 11 of Ihe Corporatlon Tax Acl 2010 or Sectlon 256 of the Taxallon of Chargeable Galns Act 1992. to Ihè extent that such income or galns are opplied gxdusively lo charitable purpose$. Tanglblo flxed a888ts Tanglbl8 Ilxed assels cosllng £1.000 or morè Are pItalIa0d and recognised when fulura economlc bonants are pmbable and the cosl or value of the assot Can bo meaBured iellably. Tangible fixed assets are inlllally recognlsed al cosL After regnItIOn, under the ¢081 model. tangible llxed ass8ls mèasuréd al Mst less affjimul8t•d d8precSallon and any aUmUlated Impalment losses. All crjsts Incurred lo bn9 a tanglble flxed asset Inlo Its Intended working condltion Should be Included In the measurement of cost. Deprgclatlon Jnd amortlsatlon Depr8cialion is provided on langibla fixed assets so as to %YTtte off the cast or valuath?n, less any esilmated residual value, over Ihelr expeded usefvl eG¢nornlc Ime ag follows.. A88et ¢la$8 Freehold property Motor vehldés Flxtures and fittings Office equlpmenl Land D8pYoclatlon method and rate 10 years straighl line 5 years slialghl line S years stralghl Ilne 3 years stralght line Nol depredaled stock Slocks are valued al the lower of cosl and net realisable value after making due allowance for obsolele and skw-movbng 8to¢k$. C081 Indude8 all direcl costs and an approprlate proportlon of fixed and variable overheads. PAg• 22
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Debtors Trade and olher debtors are recognised al the selllement amount after any trade discount offéred. Prepayments are valued at the amount prepald nel ol any trade dIUnIS due. Ca8h and ca•h •qulvalent8 Cash al bank and In hand includes cash and short-lem highly liquid investmenls with a short maturlty of three monlhs or less frorn the dale of acquisltlon dr opening of Ihe deposit or similar account. Llabll6tle8 Llabllitles are recognlsed when there Is an obligalion al the Balance Sheet dale as 8 resull of a past event. il Is probable that a transfer of economlc benefil will be required in settlemenl, and the amount of the 8etll8ment can b8 eslimated refiably. Uablllllos are CognISed at the amount that the charflable company antiapates It w511 pay to settle the débt or thè amount It has reeAiv6d as advanced p8ymenl8 for the goods or serilcas11 must providé. Provl$lons Provl8ions are me88ured at Ihe best 0811maté of the amounts rnqulred lo selllo th• obllgatlon. Where the effect of the tlme %*lu8 of money18 materi81, the provlsion Is based on the present valuo of those amounts, dlscounled at thpj pre-tax dlseount rale that reflects the dsks specific lo the liabtllty. Thé unwlnding ol the dis0t Is recognlsed in the Slalement of Fln8nci81 Acthilies aj a flnanc4 ¢osL Fund •¢¢ountlng General funds arg unreslricted ftjnds whlth are available for use at the discrelon of the Trustees In furtheranc8 of the general obiectlves of th8 chaiitable company and whlth have nol b88n deslgnaled lor other purposes. Deslgnated funds comprlse unrestrlcted fijnds that hava been set askle ty Ihe TNslees for partilar rposes. The alm and us8 of each de81gnaled fiJnd Is set oul In thè nales to th8 finandal st8lem8nls. R6slrSded funds are fvnds which are to be used In accordance wllh spedftc rnslrtcllons imposed by donors or which have bean r8ls8d by ihe chartlable company for partkular purposes. The costs of ralslng and admlnlstering such funds are charged agalnst th8 spedflc lund. The alm and use of ea restrided lund is sel out In Ihe nol8s lo the financial slalemenls. Inv6slmènl Income, galns and losses are 811¢Jcaled to the approprtaie fund. P•n•lon8 and oth•r post r•Ur•ment obllgatlon• The charltable company operates a defined conlribullon penslon scheme and the pension charge represents the amounts payable by the charitable (xmp8ny lo the fund In respecl of tha year. Flnanclal Instruments Clas$Ml¢allon The charftable company anly has financlal assets and finandal liabllllies of a klnd that quallfy as bas1¢ tlnanclal instruménl8. Poge 23
YMCA Cornwall Notes to the FinanGial Statements for the Year Ended 31 March 2024 R•cognl¢lon and measurement 8a8ic financial InstNments are initially recJ)gnised al transadion value and subsequently measured al their selllèmenl value wllh the exceplion of bank loans which are subsequéntly measured al 8mortised cost uslng the effectlve Interest method. 3 Incomo from don•Oon8 and 1•gacl Unre9tr1ctod funds Restrlctsd fund8 Total fund8 Donations and lega¢le8; Donation8 Grants, Including eapltal grants; Gtants, In(4uding capital grants Total for 2024 4,801 300 4.9)1 7,696 34.497 42.193 12,297 34,797 Total for 2023 Tl.539 84.362 In Ilne wllh the requlremenls of the Ch8ri1185 SORP (FRS 102) where grants are of a genernl nalure and are not gNen spefafically for dellvery of a servic8s or supply of goods. Ihey are allocaled as Income from donallons and18ga¢ies. On this basS$ Ihe comparalive figu$ have been reanalysed to show £77,S39 a8 donallon$ and legacle8 knslead oflncome from tharitabl8 adiwtles. 4 Incomo from ¢harltabl• aetlvlll•8 Unre8lrfct•d fun Total funda Houslng support seDAces Rent Other ser4k8S 680.043 300.357 62,131 660.043 300.357 62,131 1022 531 Total lor 2024 1022.531 Total for 2023 852,SYIS Pagè24
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 S Income from other trading actlvltles Incomé from fundraislng aclivltles Unra•lrlGlod funds Total funds Tradlng Income; Caf8 Income 30,730 30,730 30,730 Total for 2024 Tol•l for 2023 6 Inv•8tment In¢om• Unro8trletad fund• Total funds Invastmenl Income 1.397 Total for 2024 1,397 Totsl for 2023 1,999 Pago 25
YMCA Cornwall Notes lo the Financial Ststements for the Year Ended 31 March 2024 7 Expenditure on ralslng funds a) Costs of tradlng actlvltle8 Unrostrlcted fund• Tol•l fund8 Costs of goods sold (cale) Totsl for 2024 23,001 23,001 Total for 2023 8 Exp•ndtturo on ¢harltablo actlvltlas Actlvlty undartaken dlrnctly AGtlvlty Support costs Total •xp•ndlQur• Expended in pursuance of charitable objects Toial for 2023 758.776 709 149 1100,329 1052.470 343.321 £1.060,246 (2023 - £992.124) of tho abova èxpèndlturo was aitthitable lo unrestslcted furKls and £40,083 (2023- £80,346) lo rostslcted fvnds. Pag¢ 20
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Analy81s of expondolurn on charltable a¢tlvltl•s Total funds Total fund8 2024 2023 Dlrect Costs Pa014 <XJSts Other staff cosls Ouling8, 8cliviiles and weffare Security cover Motor and travel 864,(7 9,634 7,442 n,511 823,064 6,089 9,297 64,876 8.023 758.778 709,149 Support Co6t8 Depredation Rent a rates WAler ghl and heal Communlcallons Office supplies Audll fees Legal & professlonal 101.080 3.001 11,940 27.443 9.519 28,492 8,250 4,031 71,655 3,971 14.491 26.465 10,954 26,654 6,988 3,523 L 11 Affillalion & membershlps Insuranc lThecoverable VAT Sundry 8xpenses Repalr8 & m8lnlenanc8 Ckanlng & refuse Finance co8tB Profitlloss on disposal of fixed asset8 Hoad office rehara 5,385 8,750 47.021 1,794 58,771 14,569 17,188 (5,879) 4.159 7,175 49,331 2,711 59.749 16.894 15.168 23,833 343,321 341,553 Included wllhln the expendlture analysed above, there ara govarnance cosls of £8,250 <2023 £6,988) which rn18ta dlreclly to tharftable 8clivltles. Pog• 27
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Net incomlngloutgolng resourcè8 Nèl outgoing ro8ourc8s for the year Indud6: 2024 2023 Operating18ases- other assets Audit fees Other noTraudlt ser4lcè# Depreriation of fixed assets 1,759 5,000 3,250 101,080 4.320 2.668 71.655 10 TN8t•eg rémuneratlon and expenses No Irusleés. nor any parsons c4nnected wlth Ihem, have recétr4ed any remunerntlon from th• tharlly during thè year. Dlreclly Incurred Trustee 8xpenses bome by the Charlty In lh8 year lotalled £19412023,, £855) and were paid lo 2 TnJslees {2023'. 21. All expensès related lo Iravel. 11 Staff costs The aggregata p8yYoII costs were as lollows: 2024 2023 W8ge8 and Sala80 Soclal securlly $18 Penslon costs 590.978 44.858 28.173 864.IYJ7 549,789 48.827 823.iJ84 In addliion lo the above 818ff ¢osls wages and 8al8rles, sod81 securlty cosls and p8n$lon costs lolalling £13,163 {2023.' £nlll were capllaNs8d durlng the year wlth ward to Capital works. These cosls arè included wlthln addlllons In the tanglble fixed assels nole. P¥ge 28
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 The averng8 number of pérsons employed by th8 tharily during the ar was as followy.. 2024 2023 No Management and administration Houslng seThlc88 8nd Bupport ASrplay Y(yJth 18 19 29 28 Durlng the year, th8 charity made redundancy andlor térmlnation payments whlch lolalled £21.754 {2023- £NID, The temilnallon payinents made were contractual payment8 in lieu of notlca. No ¢mpbyee racolvéd 8molumenls of more than £60,000 durlng the yaar, In tho prlor year. the numbar of ernployaes vth08e emolufflonts fell wllhln Iha followlng bandG was: 2023 £60,001- £70,otMJ The key management personnèl of the charfly are the Chlef Exocullve Offrnr, FInan M8n8g8r, Houslng Manager and Corporate S8Nices Man8ger. The total employee benefits of the key management personnel were £213,412 {2023 - £210,074). Page 29
YMCA Cornwall Notes to the Financial Slatements for the Year Ended 31 March 2024 12 Tanglble flx•d assets Freehold Flxturé8 and property fittlng¥ Motor vehlGles Olfic• •qulpment Total Cost Al 1 Aprll 2023 Addltions Oisposals 1,310,811 34,478 38.244 3,193 85.828 50,674 1,463,557 2,215 39,886 21.784 Al 31 March 2024 1 345 289 51 181 1,481859 Dèpreclatlon Al l April 2023 Charge for th8 year Elimlnaled on dlsposals Al 31 March 2024 404,277 28,781 23,328 31,699 488.085 78,778 2,491 10,000 9,811 101.080 3,600 15.828 20,414 27,672 17,500 40.524 568,751 Nel book v•lu• At 31 March 2024 7,518 10.857 912,908 Al 31 March 2023 906 534 975.472 13 Debtors 2024 2023 Tfade debtors Prepayments AcGru8d in¢ome 2,850 2,442 22.888 28.158 18.015 20,392 32,089 70.496 14 Current asset Investments 2024 2023 Unllst8d Investments 230 230 Pag8 30
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 15 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 9,411 96,488 99.192 102.858 16 Credltorn: amounts falling due wlthln one year 2024 2023 Bank loans Trade creditors Other loans Hlre purchase and finance leases Othèr taxaOn and soclal securlly VAT Ilablllly Other creditors Accruals 7.311 16,102 34,098 7.771 10,523 5,640 47,247 33,859 7,254 11,918 2.821 <1.059) 101.117 120 157 Credllors due wlthln one yaar Includ85 Ihg followlng Ilabllllles. on whlch se¢urtiy has been glven by thè charity: 2024 2023 Other loans 8ank108n8 Hlre purcha8e and finance laa$e$ 29,384 7,311 7,771 44,466 27,400 S,640 7.254 40.294 The loans are secured over fr8ehold prop&ril8s held In langlble fix•d assets. The finance lease Is secured ov8r a motor vehlcle. 2024 2023 Daferred income al 1 Aprll 2023 Amounls released from previous perfods Dalerred income al year end 13.889 13.889 Page 31
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 17 Cr•dltors: amounts falllng due after on8 year 2024 2023 Bank loans Olher loans Hlre purchase and financ8 leases 233.985 27,188 19.852 253.360 61,285 281,025 342.268 Creditors amounts falllng due after morg than one year Indud88 the follon9 Ilabllllles, on whlch security has been glven by tha tharty. 2024 2023 Olher loans Bank loans Hlrè purchase and finan¢6 leasès 23.430 233,985 19.852 52.814 253.360 27.623 333 797 277.267 Durlng the 8 loan covenant was breached In respect ol Inleresl MveT on the bank103n vAth a caryng amount of £241.298. The loan provlder has conflmied the breath vlll nol result In repaymenl or penatilles. The loans 8re secured over freehold propertles held In langlble fixed assets. The finance lease 18 8ecured over a motor vehlcle. Includad in the czedllors ar8 the following amounls due after mora Ihan Ilve yaars: 2024 2023 After more Ihan flve years by instakn8nls 197.651 225.891 18 Obllgallons under1oa8e8 and hlm purchasè eontracts The total value of fulure minlmum lease payments related to the elactrlc mlnlvan vms as follows.. 2024 2023 Wilhin one year In two lo five r3 9.434 9,434 30.e82 40,096 Le$$ finance charges alloeated to futur8 pedod8 27,623 34.595 P898 32
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Assets held under financè leasès Eloctrlc mlnlvan A £10.000 deposit hgs been pald towardg the purchase of tho electric mlnivan. The remalnlng £40.000 is held under a 5 year finance lease whlch commenced in June 2022. The APR is 6.90A and monthly payments are £786.20. The nel carrying amounl of the vehlde al 31 March 2024 Is £32,500 and Included In the Motor asset dass in thè flxed assets nole. Op•rntlng l•as• commltm•nts Total future mlnlmum lea$8 paymanls under norKan¢ellable operating leases are as follow&. 2024 2023 Other Within one ar 88t•fftn one and flve years 1,759 2,053 1,759 3,519 19 P•n81on and other schemes Dofln•d Contrlbullon ponglon 8ehan The charlty operal8s a defined contributlon pension stheme. The p6nslon cost tharge for Ihe year represents (x)nlrlbutlon$ payable by Ihe charfty to the scheme and amauntad to £28,173 (2023 £28,448). Contrfbullon8 tol8lllng £2,883 (2023 - £(153)) were poyable to thfj scheme at the end ol the year and are Incjuded In credllors. Page 33
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 20 Funds Unréstrletsd funds Balance at 1 April 2023 Incomlng resour¢e$ Resourc•s 8alance at 31 oxpended March 2024 Unrn8trlct•d fund• Genernl General unreslrided funds 374,698 1,066,955 (1,083.247) 358,408 De$lgnaled Major repalrs fijnd Prolecl development fund 48.390 48,390 54.472 54,472 Total unr•strl¢t¢d fuftd8 429170 1.066.955 412 878 Restrlctsd fund• Capllal fvnd Homeless Llnk Coffee shop rafurblshmgnt Housing and resettlement support servlce Refurbishrnent of h09t81 Appletree House réfuibishment Comw811 Independenl Powrty bursarfes Tesco Bags for Llfe Monis Hou8e ¢onver8lon Lloyds 8ank Foundallon core grant Big Lottery Funding CCF Em8rg8ncy Fund & Cornwall Communlly Crlsls Fund B&Q Foundalion Other reslrlcled funds BertrlL* Lalng Trust Slreetsmart- Rosident Actlvlilos Ludwtsn Church - Resldont A¢livities Land Ald 138,465 873 1,127 138.465 873 1,127 1,TlO 2,138 1.770 2,138 2.375 (734> 1,841 1,988 612 20.847 1,986 1.355 18,147 1,000 (2sn P,500) 1,587 12,109 1,587 12,109 2.008 4,125 6.650 1,779 2.500 <2.925) (500) (1,404) (255) 1.583 3,62S 1.$24 893 (408). (3,639) 26,569 22,930 Page 34
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Balanc• at I Aprll 2023 Incomlng resources R••ourc•8 Balan¢e al 31 expended March 2024 Shekhlnah - Welcome pa¢k8 Rotary Club SW Trust Fund Blg Lottery WIFI & CCTV Upgrade Clalre Mllne- Slalrllft CCF Upper Sl Levan Boiler Leonard Laity - Resldenl Starter Packs Sklpton Buildlng Sodely Re51denl8 AC11lIeS auakers- Velux windowg Percy Billon . Fridgéfre6zers Albert Hunt TNst- Houslng staff Beririce Lalng Trust- Flal furnishings LandAld - Velux vlndows Rotary- Hug In a box Screwfix - Cherrytree refijrb Roiary - Résidents furn15hings CCF - Infonn Database & tralnlng Total r•8trfctsd fund8 113 12,060 Iixi 300 413 6,114 (5.946) 6,522 5,920 4.927 (3,032) (857) {769) 3,490 5.063 4,1&8 762 (397) 365 2,936 2.500 3,000 12,500) (2,750) 250 7,000 7.000 2.500 3.000 1,500 8.000 1,800 I2.5) <2,500) <1,500) (1,468) (1,800) 500 4.532 1.442 1,$58 257,461 40,083 252.175 Totsl funds 686,631 1.101752 1123.330 865,053 Pago 35
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 1 Aprll 2022 Incoming r•$ource8 Resources expendod Balance at 31 Mar¢h 2023 UnY•gtrlcted funds Genwal Genor81 unreslrfcled funds 497,582 894.820 (1,017,704) 374,698 Oesignated Malor repair8 fund Project d8veloprnenl fvnd 48,390 6.082 48,390 Total unr08tr1cted funds 1.017,704 429.170 Re8trlGted Capllal fund Homeless Llnk Coffee shop refuthshment Houslng and reselllement Support s8r¥lce Refurblshment of hostel AptA8tree Hou refvrt)ishment Cornwall Independent Povorty bursarles Tesco Bags lor Llle MorTiS Hous• Mnversl*)n LI08 Bank Foundatlon core grant Big Lotlary Fundlng CCF Emergency Fund & Cornwall Communlty CrisSs Fund B&Q FoundaNon Olher Teslrici6d funds Bertrice Laing Trusl Slr8elsmart- Resident Ac#iwlies Ludgvan Church- Resldenl Activlties Land Aid Shekninah- WelGwie paths Rotary Club SW Trust Fund Big Loltery WIFI & CCTV Upgrade 136,465 1,247 2.627 136.465 873 1,127 (374) (1,500) 1,TTO 2,138 1.770 2,138 {1.078) 2,375 612 23,147 612 20,847 I2,5) 7,794 14,24e 11889 {20,098) (2,137) 1,587 12,109 2,108 4,625 11,653 1,979 2.800 (2.900) (500) (5,003) (200) 4.125 6,650 (2,10n 400 23.750 (342) (12,4S2) (82) (1,842) {800) 15,271 195 4,702 900 26,589 113 12.060 100 9,200 10,000 {3,478) 8.522 P49• 36
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at I April 2022 In¢oming resources Resources Balancé at 31 expended March 2023 Clalre Mllne- StalAIft CCF Upper Sl Levan Boiler Comwall Community Crisis Fund Leonard Laity- Resident Starter Pad<s Sklpion Bulldlng Sodely Resldenls Activities (80) 173) 5,920 4,927 2,$00 (2,500) 1,000 (238) 762 84 2,936 Total restrlcted funds 240,268 77,539 .346 257.461 Total lund$ 792,322 1.078 050 686,631 P898 37
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 The specific purposes for vknith thè funds are lo be applled are al follows., Designated funds Major repalr8 fvnd - Thè TnJslee8 have deslgnated fund$ lor major rÈpalrs whlch may required at Applelree House, Cherree House ond Sl Lèwan In the (utsjre. Induded In the balanc of thi5 lund Is the n81 book value of capital assels purchased as part of the w0S and as such In futurè years depredation on these ass81s wlll be allocaléd lo this fund. Projecl development re8erve- The Trnsletis have deSIgnat funds for Ihe slartP costs and ongolng costs of prolecls around Comwall. Resldcted fund8 Capital fund - The freehold property Is held vlthin Ihls fvnd whleh Is bèlrtg dèpredaled over the expected life of th6 bullding at 2% per annum. The balance at y8ar-8nd Is equal to thè net book value ol the property. Homeless Llnk- Th8 fijnds were prolded as part of Homeless LinVs Covi&19 emergency funding to he 8lle¥late losses and addlOnal expèndllurè related lo th8 Covi&19 pandemlo. Coffee shop rafurblshment - These fvnds were recelved from the 819 Lottery Awards for An s¢hémé and Beatrice Laing CharTiable Trust in order lo creale an open to all catering farility wilhln YMCA Cornwall In th8 existing dinlng Area whlch was In serlous need of modernisallon, Exp8nditUfe In tha year Is on deprnd8tlon of Gapilal assets purchased durlng thls prolect. Houslng and resetllemenl support W1X- Those fvnds wern rethd from the Hanry Smllh Charlly, The Keslrelman trust, Masonlc Ch8fit8bl8 Trust and Sl James Plafx In order lo enable staff Io wot to sell18 and help Inlegral8 young houslng dienls Into the coinrnunlty by h61plno them mo4w on to secure, Independent accommodauon. enter tralnlng oi employmenl ¢x secure benefits. Refurblshmenl of hostel - Funding was recel¥ed from th• Blg Lollery fund In order to refurf>15h th• Backpack8rs' H081el al YMCA Cornwall. Appletree House refurblshment Thi$ 9rant was awarded by The Garf*ld Weston Foundallon towards the refurt)Ishmenl ol Applelree House. Comwall IndgP8nd8nt Pov8ty bursarles - Thes8 funds are recetved for Ihe general runnlng cyjsts of provlding aceA)mmodation for the homeless young people of Comwall. Tesco Bags lor Llle fundlng - Funds were received from the Tesco Bags for Llf8 Inlll8llve for th8 provlslon of small items of fumtiure and other household equlpment for Morris Hous8 residents. Page 38
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 CCF Emergency Fund This grant was awarded to cover part-lime salary costs ft)r the fronllln8 hou81ng staff working dlr8cUy wlth the Ung people on slte for 12 months. Morrls House Converslon - Funds were receNed from CRASH charily, Land Charitable Twst, The Sylvia Waddllove Foundalion and The Alb8rt Hunt Trust towards the eonverslon af Morris Hous8 into 20 new flals for youno people. LEoyds Foundation - The grant was awarded lo fund an additional houslng support offit8r to help with incréased ¢ase loan upon Ihe creatlon of the Morris House e£Jnversion. Big Lottery Fund - This arant was awarded to furKI the purchase of an electsic véhlcle to rèplaee Iha diesel minibus that was operated to help the YMCA Cornwall reduce it's cart)on footprint and to Iransport resldents lo events and appoinlménls along with Somé business relaled loumeys. B&Q Foundatlon - Thls grant Is lo herp wllh materfal costs for the final phase of the Morris House conversion project to enable us lo house more residents on $lle. Bertlce lalng Blke Shed - Tlils grant Is lo fvnd a new blke shed for YMCA vlsit¢)r8, Streetsmart Resldent Acllvltles - To fund resldenls events and 8(AiNite8, Including organlsed days out and events on slle. LudgvaTr Church Resident Activlllgs organlsed day8 out and events on slle. To be used on re8ldenl8 events and acllwtss, Induding Land Akl - Grnnt lo fund Appletree building extemal renovations. Shekhlnah W8l¢xffle Packs - Thls gtanl w4$ to provlde welcome pa¢k$ for new re8ldents Jolnlng YMCA. Rotary Club - Funding from the Rotsry Club was to help resldents onslte and those moving on through the cost of livlng ulsis, help ranged from pan9 for carpels for an ex resldents new flat. deposits for re8ideDls moving on, crlsls vouthèrs and act11188. Thé Rotary Club has 81s0 provided funds lor the intern81 refvrblshment of Cherrytree as the bulkllng had been badly neglected by Ihe previous oww8. The funds hav8 bèen spenl on brlnging tlats lo 8 standard In Ilne wilh our other buildings. SW Trust Fund - To fund staff tralnlng In fundralslng deportment. Page 39
YMCA Cornwall Notes to the Financial s.tatements for the Year Ended 31 March 2024 Cornwall Community Cflsls Fund - CCF have provided on golng support to resldents In need of ¢rlsls support vouchers. The funds are usad by the YMCA Cornwall lo purchase Tesco vouchers lo be used on IJd grocerigs and lollelries. Big Lottery WIFI & CCTV Upgrade - FundKig frt)m the Natlon81 Lottery Awards for All scheme was lo upgrade our WI-FI around the buildin9 and Integrate CCTV Into the Same system. Prior to the new WFFI system from Ubiquill we had a number of black spots around Ihe sile which often affected resid8nls flats 8nd Ihelr abitity lo gel a stable connecllon for College work. the new sy8lem offers superfast broadband WpFi for Ihe whole sile. Thls was phas8 one of the prolect and thls year w8 integralad Ubwuiti CCTV carnerns whl¢h wlll impft)ve the quality of recording Includlng sound If needed. Sklplon Buldllng Sodety Résldenls Acllvllles Sklplon Buildlng Soclely hav8 provlded funds kir iesldent activitles whlch includè off sil8 days out along with In house woking and arts dubs plus 8 monthty r6sldenls sodal p12za & pool nlghl. Leonard Laity Resklenl Slarter Packs - The Leonard Lalty Stoale Charitable Tnjst prOded fvndlng lor resldenls slarter pad(s fol essenllals thal many of our Tesidenl do not have wfien they arrlve at the YMCA Cornwall, items indude bedroom furnlshlngs, ¢xxJklng ulenslls and kltchen Items. Clalre Mllne Stslrlift -The Clalre Milne Trust provided us wlth fundlng to install and rnalntaln a slalr Ilfl to our sludlo downstslrs as It vrdS difficult for 5110T$ and residents with di8abilits.es to access, CCF Upper St Len Boner - The Comwall Communlly Foundallon proded fvndlng for a new boller In our admln offl¢e. Quakers Velux Imndows - The grant from the Quakers was lo help towarils Ihe ctssl of repla¢lng the VÈSUX wlndows In our Sludlo 2 room, Tbls ensured that we Uld CntInue lo offer ihe space to local ¢ommunlly groups who u8ed 6t, Percy 811ton- Thg grant enabled us lo purcha8e tèn frtdge-freozers to ensure that recenty renovated flats had good quallty modem appllances. Albert Hunt Trust Iwu$lng staff . Tha grant Is provldad to énable us lo Incrna80 our houslng lelms hours lo offer addhlonal support to resldents wllh complex needs in our cara. Bertlce Lalng Trust flat fvmlshlngs - Some of our rosldents do not have any of Ihelr own fumlture when they arriva al th6 YMCA Comwall. the grnnt from Bertrfce Lalng TNSI trnabled us to pui¢hase good quality ilems de3fgned for use In scenados liké ours. LandAld Velux windows - Tha granl from Ihe LandAld wa8 lo help low&rd8 thé cost of replsdng th8 Velux wlndows In our Sludlo 2 room. Thls ensured that we Uld continua lo offer Ihe spaeA lo local communlly group3 who used11. Rotary hug in a box- These funds were given lo Ihe YMCA C<Jmwall to allow us to give èach resident a 8eledion ol glfts for Chrlslma8. Screwfflx chetyrée refurfo - Thls grant was glven lo conllnue th the refurblshmanl of the rec•ntly acqulred Chetyte8 bullding. tho funds wil go towards new kitchens. balhrooms and floorlng. P•g• 40
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2024 Rotary residénts fumishings - Some of our residents do not have any of thelr furniture when they arrive at the YMCA Comwall. the grant from Roiary Shop PenZan enabled us to continue to purchase quality items designed for usè in seenario$ like ows. CCF Infomi database & Iraining- ThlG granl was lo fijnd software and tralnlng for 8 new dalabase Ihat Is used by our housing team to track indikniduals in our care. Thls wlll soon be a mandaiory requirement for supported housing providers. 21 Anatysls ol net A•••ts b•tw••n funds Totsl funds at 31 March 2024 Unre8tr1cted fund¥ General Dgslgnated Restricted funds Tanolble fixed a88et8 Current assets Current li8bililie8 Credllors over 1 year Total n8t assels 709.070 31.478 {101,11n 281.025 358,408 203,838 48.337 912.908 134.287 (101,117) 281025 54.472 252 175 865,053 Total funds at 31 March 2023 Unrestrlcted lunds General Oeslgnated Restrlctsd lund$ Tanglble fixed assets Current assets Cuffent liabifilie8 Credltors over l yaar 759,398 51,157 (93,589) 342.268 374 698 216,074 67,9S5 126.568) 875,472 173,584 (120,15n 342.268 54,472 Total nel assets 54,472 257 481 22 Related party transa¢tlon8 Durlng the year the Charity mada the foftowlng relaled parly transactlon8: Alverton Holdlng8 Llmltod {Derek Tllby is a dlreclor of the domiant company) YMCA paid lor the confiimalion statement lo be filed at a cost of £13 (2023: £13). At the balance sheet date the amount due toffrom Afverton Holdi.ngs Limited was £NS1 (2023 - £N1. Page 41