Company registration number.. 03684583 Charfty regIstraOn numb8r.' 1073674 YMCA Cornwall (A company Ilmlted by guarant88) Annual R8POrt and Financlal Ststements for the Year Ended 31 March 2025 •AEHR5U16• 1911212025 COMPANIES HOUSE A4
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YMCA Cornwall Contents Trustees R8POrt 1to9 R8ference and Administrative D8tails Statement of Truslee8' Responsibilltles 10 Independenl Auditors. Report 111014 Statement of Financial Activities 15to16 Balance Shéèl 17 Statement of C88h FlovpJ 18 Notes to the Financial Statements 191040
YMCA Cornwall Trustees Report Th8 trustees, who are directors for the purposes of company law, present the annual reFK)rt together with the financial slalements and audilors, report of the ¢haritabl8 cornpany for the year ended 31 March 2025. ObJe¢tlves and actlvltl•s YMCA Cornwall Mlsslon Statement Our rnis51on Is to provide safe 8nd supported houslng for young people aged 16-24 who are homeless or at risk of homelessness. We offer a stable environmenl. dedicated support, and access to facilities that promote wellbelng, personal growth, and Independence. Our goal is to help young people bulld strong foundations for the future Ilnding employment, and leamlng the Skills needed lor Ind8pendgnt Ilving. maintaining educ811on. As part of an inlemalional Christian movement, we value the equal worth of 811 individuals. W8 are committed to serving our local community (wilh a focus on young people) by ¢reatlng a positlve, Indu8ive envlronment thal enables them to thriv8 and contribute to the IN8S of others. Objecls and alms The objécts of the charity as defined in the Memorandum and Articles of Assoclalion (revised December 2022) are.. 1. To 8dv8nc8, enable and empower péople of all ages and In partlcular young people. to Ilourish through experiencing and responding to the care and support. 2. To provide resldential accommodallon. Including Soclal Houslng, for people of 8118ges and in particular young people. who are In Deed. hardship, or distress by reason of their social. physical, emotlonal, or economlc ¢1UmstanCes. 3, To advance and enable people of all ages and in particular young people, to be empowered lo thrive through expèriencing high quality support. 4. To provide or assist in the provislon in the interests of social welfare of facililles for recreation and other leisure tlme occupatlon for all wlth the object of improvlng their condlts'ons of Ilfe. 5. To provide or asslst In the provision of educallon for people of all ages and in particular young people. with the object of developing their physical, mental, or emotional heallh. 6. To relieve or 8S8iSt in Ihe relief of people of all ages and In particular young people, who are In conditions of need, hardship. or dlstress by reason of thelr social, physical, emotlonal, or economic clrcumstances. Page 1
YMCA Cornwall Trustees Report The YMCA is a Christian Federation and welcomes into its fellowship persons of all religious faiths and of none. In accordance with its Christian values the YMCA stands for: A worldwide fellowship based on th8 equal value of all persons., • Respect and freedom for all, tolerance and undetslanding been people of differ8nt oplnlons: Acllve concarn for the needs of th8 community; United effort by Christians of different traditions. As the expression of Its Chrlstian purposés the YMCA alm8 to: Provide a welcome lo its members for themselves In a meeting place whl¢h Is Ihelrs to share. where friendships can be made and counsel sought., Develop activities which sllmLJlale and challenge members In an envimnment that enables them lo take r8sponsibility lo find a sense of achievem8nt- Involve all m8mbers in Ihe care and work of others., Create opportunities for exchanging views so that members can Improve their und8r8tanding of the world. of themselves and of one anolher. Objectlves. strategles and actlvltlgs The charitys primary objective is to support young people through the provision of safe, affordable houslng and a range of support servlces. We aim to promot6 Independ8n¢e, bulld confidencè, and equip individuals with the tools needed lo move forward in Ilfe. Our aclivilies during th8 year included supported accommodation. houslng advIr, and youth work inilialives. Publlc beneflt The maln areas of charitabl8 actlvity undertaken by YMCA Comwall lo further public benefit are., Youth Housing Providlng supported housing for ywng people aged 16-24, induding social ' housing. housing advice, counselling, and resettlement support. Youth and Community Work - D8liverlng youth clubs and adult communlty actlvltles, and offerlng affordable room hire io olher local charities, public seNices, and community groups. The trustees confirm that they have complied wlth the requirements of section 17 of the Charitles Act 2011 to have due regard to the public benefit guldan¢8 publlshed by the Charity Commission for England and Wal8s. Structure, governance and management Nature of govornlng document The charrty Is registered as a charitable company limit8d by guarantee and was sel up by a Memorandum of Assoclallon dated 4 D8c8mber 1998 (revlsed December 2022) and is reg15t8red charily number 1073674. In the event of the company b8lng wound up mamb8r8 are required to onlribute an amount not exceedlng £1 each. Page 2
YMCA Cornwall Trustees Report ReGrul*ment and appolntment ol trustees The Directors of the company are also Charlty Twslees for the purposes of charity law and under the companrfs Articles are known as members of the Management Committèe. Under the Requirements of the Memorandum and Articles of Associatlon the members of the Management Committee are elected lo serve for a perfod of three years after whlch they musl be r8-818Ct8d at the next Annual General Meeting. Due to the nature of focus, social housing for young people and youth aclivities make up much of the charivs work and, inevitably, the organisatton's focus Is on young people. The Management Committee seeks lo ensure that the ne8ds of these groiips arè appropriately reflected through the diversty of the trusteè body. Inducllon and tralnlng of Iruste¢s New truslees are invited and encouraged to attend a short training session (of no more than an hour) to farniliarise thernselves with the charlty and the context within which 11 operates. Th8 Chalr of the Management Committee or the Chlef Executlve of the charily can cover and lead these.. The obllgations of Managem8nt Committee member8', The main documents which set out the operational framework for the charity Includlng the Memorandum and Articles: Resourcing and the current flnanci81 posltion as set out In Ihe18t8sI publlshed accounts.. • Future plans 8nd objectives, The YMCA Cornwall Trustee Inducllon pack, lasl reviewed in Febuary 2025, draws infomiation from the various Charily Commission publications signposled through the Commission's guide "The Essential Trusl8e' as a follow up lo these sessions. This Is dlstribut8d to all new trusl88s along wlth the Memorandum and Articles and the latest flnancial 8tatements. Organlsatlonal structurn YMCA Comwall has a Manag8ment Commi118e consisting of a body of members who moet quarterly and are responsible for the stra18gic direction and policy ol the charily. The Members are from a varlety of professlonal backgrounds r8levant to the work of the Charity. The S8¢retary also sils on th8 Committee but has no voting rights. A scheme of delegation Is In plac8, with day-to-day responslbllity for service provlsion r8Sting wth the Senior Management Team. which includes the Financial Controller, Head of Operations, Housing Manager. and HR & Corporate Govemance Lead. The Senior Man8gemenl Team Is a¢¢ountable lor ensuring that the Charity delivers its services as specified and meets key performance indicators. They also overs88 the operalion81 management of their respective departments, provlde individual supervision lo staff, and ensure that the team continually develops Its skllls and working PTaclic8s In line with best praGtIC85. Relalionshlps wlth related partles In alignment with the chariws objectives, the organisatlon is guided by bolh local and national policies where relevant. Page 3
YMCA Cornwall Trustees Report Reference and Administrative Details Chlof Executlve Offlc6r Palrl¢ia Woodfield (Appolnted 3 February 2025. Resigned 7 August 2025) Derek Tilby (Deputy Chairl Penny Mams Hudson Smith Trustees Chris Seamafks (rèslgn8d 25 Aprll 2024) Nlcola Hemsley (Chair) Zena Muth Patricia Woodfield (Appointed 25 September 2024. Résigned 2 February 2025) Amanda Chambers (TreaSur) (Appolnted 11 June 2025) Louise Mallas (Resigned 2 February 2025, Appolnled 8 August 2025) Patricia Woodfield (Appointed 3 February 2025, Resigned 7 August 2025) 1073674 S•cratary Charfty Ragl8lratlon Number Company Reglstratlon Number 03684583 PrlnGlpal Offl¢¢ The Orchard Alverton Road Penzance Cornwall TR18 4TE PKF Francis C18rk Slalulory Auditor Lowln House Tregolls Road Truro Cornwall TR12NA Audltor Sollcltors: Coodes Sollators 49-50 Morrab Road Penzance Comwall TR18 4EX Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Page 4
YMCA Cornwall Trustees Report Achlevements and performance Youth Houslng During the ye8r, YMCA Cornwall continued to deliver supported houslng and housing adv servic8S to young people across Wesl Cornwall. The charity supported 95 young people with accommodation and provided housing advice to 79 Individuals in person and 156 over the phone, through both internal and partnership services. Our supported houslng Is delivered across multiple key sltes: Cherrytr•e Hous•, Applelrèe Housè, St Levan, Morrls Hous• (Supported Houslng Prolocts) Applelree 8nd Chetyree Houses are purpose-bullt, self-contsined accommodations provlding supported housing for 22 young people. Applelree House, opened in 1994 in partnership with YMCA England, and CherNree House. opened in 2004 in partnership with Penwith Houslng Association (now LiveW8st), serve as vital resources for vulnerable youth. In March 2023, we successfully purchased CherNree House from Llvewest, securfng its long-lemi futu and enabling fvrther Investment In the property. Morris House completed In July 2021, was converted from a fomer sports hall into 20 self<onlained fiats over three Iloors. This prolecl was delivered by our in-house rnalnl8nanc8 team. During the 2024-25 year, a suc¢essful fundraising campaign enabled a full roof replacement. ensuring the bulldlng's conllnued safety and stsblllty. Our St Levan flats offer four short-tem rooms wlth shared facllitles. These support young people In Immedlale need vthile long6r.t8rm housing Is arranged. wlth support workers hélping them prepare for independence. Mov••on Flats In October 2006. Penwlth Houslng Associatlon, now part ol Livewest, integrated four flats Irom their general needs stock into a management agreement wllh YMCA Comwall. These flats play a vitsl role as rnove-on accommodation for young peopl8 transitloning out of supported houslng after their two-year stay. This collaboratlve effort ensures a o)ntinuum of care. supporting young individuals as Ihey progress from supported housing to more independent Iwing arrangements. fostering a smooth and sustalnable transillon. Room Hire YMCA Cornwall is dedicated to offering excellenl, affordable room hire facilities lor various communily groups and local organizatlons. Additionalty, we provide offic8 rental spaces for respected partners such as the Liberal Democrats and Citizens Advice. Our Commitment to providing accessible and high-quality facilities supports the diverse needs ol our community. fostering collaboration and engagemenl. Page S
YMCA Cornwall Trustees Report Financlal Review During the year the Charity conllnued lo devèlop it5 servlces. For the year endlng 31 March 2025 the Charity has generated a surplus of £117,468 (2024: loss of £21,578). A surplus of £28,057 (2024: loss of £5,286) related to restricted lunds has bèen gen6rated and wlll be carried loard for ongolng projects. Unrestricled funds have created a surplus 8fter transfers of £89.411 (2024.. loss of £16,292) durlng the As at 31 March 2025 unrèslricled general funds stood at £447,817 (2024.. £358,406) and th8 designated unreslricted fund at £54,472 (2024: £54,472). Restricted funds totalled £280,232 {2024: £252.175) 8131 March 2025. ReseNes Policy Th8 Board has examined the charlvs requlrémenls for reserv6s In light of the main risks to the organisation. It has established a policy of whereby the unrestricted funds not commilled or invested in tanglble fixed assets held by the charity should be betwe8n three to Six months of the core expendlture. Th8 reseNes needed to meet the working capital requirements for the charity and the Board are confld8nl that al thls level they would be able lo continue the current acllvilies of the Gharlty in the event of a slgnificant drop in funding. 8udgeled core 8xpendllura for 2025126 18 £1,127.316 and therefore the target Is £281.829 to £563,658 in free unrestricted reserves. Current, free unreslrided reserves (excluding tsngible fixed assets and long term loans over 1 year) are £26.843 12024.. {£69.639)) so slgnificant progress has been made towards tha target. We alm over the next one to years to accrue an addilional £100,000 free reserves and the Board has eslabllshed an expectatlon Ihat, apart from development of seiCe$, every project or service musl go Into a new financial year with a balanced budget. Ov8r the coming financial year, we expect to bring the frèe reseNes Gloser to the agreed tsrget range. Page 6
YMCA Cornwall Trustees Report Investment Pollcl•s and Oblectiv8$ In accordanc8 with the powers set out In its Memorandum and Articles of Assoclation. the charity Is permitted to invesl funds in any manner deemed appropriate by the Trustees. The Board lake a cautious end responsible approach lo investment. Taking into a¢count th8 organisation's operational needs and its reseNes policy, available funds are currently held in an interest-bearing deposit account to ensur8 1)oth ac¢essibllity and 88curity, while generating modest retums. Rl8k Managamont Management have carded out a comprehenslve assessmént of the key rlsks laclng the charlty. A carefully maintained risk register Is regularly reviewed by the Board to ensure ongoin9 oversight. To mitigale identified risks, thè charity has implemented robust sys18ms and procedu$ tailored for effective risk management. In response to significant external funding risks, a strategic plan has been developed lo div8r5ify fundSng sources and broaden the scope of aclivilies. YMCA Cornwall adively manages Intemal control risks through robust procedures and oversight. All transacllons, acllvities. and projects are Subject to clear 8ulhorl$8tion processes. ensurlng Strong financial and operational accountability. The organisalion malnlalns a strong focus on health and safety for slaff, volunteers. clients. and vlsllors. Comprehensive proc8dur8s are In place to ensure full compllance wlth $18tutory requirements and best practice. As part of our commitment lo contlnuous Improvement and peopla-focused le8dership. YMCA Cornwall has held Investors In People (IIP) accredilation since 2014. We were awarded Silv8r slalus in 2017 and in 2025 successfully renewed our ac¢redltation, d8monstr81ing our ongolng d8dlcatlon to developing and supporting our workforce. Golng Concern The Trustees have reviewed the charitls financi81 positlon. bu¢Jget forecasts, and op8rational rlsks and are satisfied that YMCA Comwall has adequate resources to continue operating for the fores8eable fulure. Our solid finandal perfomance, ongoing lundraising success, and Investment In addltlonal housln9 units support our ability to meet luture commitments. The Board therefore considers the charity a going concern. Page 7
YMCA Cornwall Trustees Report Plans for future perfods Alms and key oblectlves for futuro periods In July 2025, the Board completed a full review of YMCA Comwall's Strategic Plan. The charittys prlorities remain focused on expanding and enhanclng our supported houslng offer. strengthening partnerships with Itxal agencies, and contlnuing to deliver life-changing seNic88 10 young people across Cornwall. A major focus for the coming year is the expanslon of our houslng provlsion through capltal development prolecls already undeNay. In summer 2025, work began to convert tha upper dance studio on our main sit8 into thffje one-bedroom flats, whlch will provide high-quality supported accommodation for young people and contribute to our long-term financial sustsinability. Alongside this. a new self.contained flat is being created within Applelree House by repurposing exlsting offlce space. These developments are expected lo complete wlthln 12 months, sublect lo the success of grant funding applications currently in progress. These projects form part of ovr broader alm lo increase capaclty, reduce rellance on extemal property partners, and reinvest surplus income into frontline services and organisalional development. Overall Strategy YMCA ComvRII aspires to be a leading county-wide organisation, recognised for ils abilty lo respond ffecilv8ly lo local needs 8nd dellver hlgh-lmpact servlces for young people and Ihe wlder communlty, W8 ar8 commltted to conlinually slr8ngihening Ihe quallty and reach of our programme5 by.. Exploring and developing new inilialives and income-generaling opportunities • Offerlng 8ngaglng, relevant. and accesslble programmes that meet the interests of our communlty Investlng in our people, facilities, and Infrastructure 8ulldlng a resllient financial foundation lo support long-term growth and Innovatlon Our key objectives for organlsational development Include.. • Raislng our profi18 and influence 88 a trusted youth and community organlsalion across Comwall Ensuring that our seNices are shaped by and responsive to the needs of individua15 and communltles Strengthenlng relationships with local partnèrs, agencies, and stakeholders Proactively implementing creative and suslalnable programmes that reflect local demand Managlng risk effectively and maintalning agility In the face of change Dl$closuM of Information to auditor Each trustee hBS taken steps ihat they ought to have taken as a truslee in order to make themselves aware of any relevant audlt information and to establish that the charity's audilor is aware of that informalion. The Iruslees confimi that there Is no relevant information that th8y know of and of which they know the auditor Is unaware. Page 8
YMCA Cornwall Trustees Report Small companies provlslon statoment This report has been prepared In accAJrdanc8 wilh thè small companies reglm8 under the Companies Act 2006. The annual rèport was approved by the trustees of the charlty on behalf by.. and slgned on ils Icola Hemsley (Chair) Trustae Page 9
YMCA Cornwall Statement of Trustees, Responsibilities The trustees (who are also the directors of YMCA Comwall for th8 purposes of company law) are responsible for preparlng th8 trustees, report and the financial statements In accordanc8 Wlth applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reporting Slandard appllcable in the UK and Republi¢ of Ireland" Company law requires the trustees to prèpare financial statements for each financial year. Under company law the trustees must not approve th8 financial statements unless they are salisfied that they give a tru& and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure. of the charitable ompany for that period. In preparing these flnancial statements, the trustees are required to.. select suitable accountlng policies and apply them consistently. observe thé methods and principles in the Charities SORP: make judgemen15 and estimates that are reasonable and prudent: stale whether applicabl8 a¢counting standards, cornprising FRS 102 have been foll¢)wed. subject to any material departures dlsclosed and explained in the financlal statements., and prepare the financial slatemenls on the going concem basis unl85S It is inappropriate to presum8 that the charllable company will contlnue In business. The trustees are responsible for keeping proper acu>untlng records that can disc1088 with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companles Act 2008. They are also responslble for safeguarding the assets of the charitable company and hence for taking reasonable steps for the pVentIOn and detectlon of fraud and other irregularities. The trustees are responslble for the malnlenance and inlegTIty of the corporate and financlal Information included on the charltable company's website. Legislation governing the preparation and dissemination of flnancial statements may differ from legislation in other jurisdictions. Approved by the Iruslees of the ¢harlly on and signed on ils behalf by. la Hemsley jCh8lrj Trustee Pago 10
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Cornwall Opinion We have audited the flnancSal statements of YMCA Comwall {th8 'charlty') for the year ended 31 March 2025, whlch comprise the Statement of Financial Aclivllies. Balance Sheet. Stalemenl of Cash Flows, and Notes to the Financial Stalemenls, including a summary of signlficant accounting polides. The financial reporting framework that has been applied in their preparatlon Is United Kingdom Accounting Standards, comprising Charities SORP FRS 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounllng Practice). In our opinion the financial statements: glve a tnje and falr vlew of the stale of th8 charlvs affalrs as at 31 March 2025 and of its Incomlng resources and application of resources, Includlng 118 Income and expenditure, for the year then ended; have been property prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢tlce- and have been prepared in accordance with tho requlrements of Ihe Companies Act 2006. Ba818 for oplnlon We conducted our audit In accordance With Inl8mational Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our responsibilities under those standards are further described In the auditor responsibillties for the audit of the financial slalements section of our report. We are Independent of the charity in accordance with the ethical r8qulrem8nts 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 rÈsponsSbilitles in accordgnce with th8se requlrements. We believe that the audit evldence w8 have obtsined is sufficlent and appropriale to provide a basis for our oplnion. Con¢luslon8 relatlng to golng concern In audits'ng the financial statements, we have concluded'4hat the trusteès use of the going concem basis of accountlng in the preparallon of the financial statements Is approprfate. Based on the work we have performed. we have not Idenried any material uncertainties relallng to events or conditions that, individually or llectivelY. may cast significant doubl on th8 charity's ability to ¢ontinu& as a golng concern for a period of at least Iwelve months from when the original financial statemenls were authorised for Issue. Our responslbilllies and the responslbilitles ol the trusleès wllh r&spect to golng concern are described in the rel8vant seclions of thls report. Other Infom)atlon Th8 trusl8es are responslble for the other informatlon. The other information comprlses the Information included In the annual report, other than the financial slalemenls and our audilorfs report thereon. Our opinion on the financlal statements does not cover the other information and. except lo the extent otherwlse explicilly stated In our report, we do not express any fomi of assurance conclusion therecm. Page 11
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Cornwall In connection with our audit of Ihe financlal statements, our responsibility Is to read the other information and, in doing so. consider whether the other infomation is maleTially inconslstenl with the financial stat8m&nts or our knowledge obtained in the audit or otheThvis6 appears to be materially missl8t8d. If we identify such material inconslslencies or 8ppar8nl material misst8lem8nls, w8 are r8quired to determin8 whether there is a material misstatement in the financial slalements or a material misstalemenl of the other informatlon. If, based on the work we have performed. we conclude that there Is a material rnisst818menl of Ihls other information. we are requlred lo report that faGt. We have nothing lo report In thls regard. Oplnlon on othér matter prescrlbed by the Companies Act 2006 In our oplnion. based on the work undertaken in the course of tha audit: the infom8tion glvan In the Trustees Report for thè financlal year for whlch the financlal slalements are prepared is consislent with the financial statements. and the Trustees Report has been prepared in accordance with applicable legal requiréments. Matters on whlch we are requlred to raport by excepllon In the light of our knowledge and undefstanding ol the charily and Its ènvlronment oblained in tho course of the audit, we have not Idèntified rnalerial misstatements in the Trustees Report. We have nothing lo report in resp8d of the following matters where the Companies Acl 2006 requires us to report to you if, In our opinlon.. adequate accounllng records have not been kept, or relums adequate lor our audlt have not b88n receiv8d from branches not visited by us., or the financial statements are not in agreement with the acrnunting records and r8tums', or certain disclosures of Iruste8s remuneratlon specrfied by law are not made,. or we have nol received all the Infomalion and explanations we require for our audlt. the directors w8re not enlilled to prepare Ihe financlal statements in accordance wllh the small companies regim8 and take adv8nlage of the small comp8nies' exempllons In preparlng the directors, report and from the requirement to prepa a strategic report. Responslbllltles of trustees As explained more fully In the Sta18ment of Trustees. Responslbilltles (sèt out on page 10), the tru8tees are responsible for the pparation of the flnanci81 slalemenls 8nd for belng satisfi8d that Ihey give a Irue and fair view, and for such intemal conlrol as Ihe trustees determine is necessary io enable the preparation of financial statements that are free from malerial misstatement. whether due to fraud or error. In prep8rin9 the flnanclal statements, the ITUStees are responsible for assessing the Chaty.3 ability lo continue as a going concem, disclosing, as applicable, mallers related to going concern and using the going concern basis ol accounting unless the trusl88s either intend to liquidate the charily or to cease operations. or have no realistic alt6mative bul to do so. Page 12
YMCA Cornwall Independent Auditor's Report to the Members of YMCA Cornwall Audltor responslbllltles for thè audlt ol the tlnanclal statements Our obj8Ctive8 are lo obtain reasonable assurance about whether the financSal stst8m8nt8 as a wholo are free from material misslat6menl, whether due lo fraud or error, and to issue an audilor's report that includes our opinion. R8asonable assurance is a high level ol assurance, but is not a guarante& thal an audit conducted in accordance with ISAS (UK) wlll aayS detect a mater181 misslalement when it exists. Misslalem8nts can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably bè experted to influence the econorni¢ decisions of users tsken on the basis of these financial statements. Irregularitles,-Including fraud,.are.instances of_nonvcompllance-wlth-laws and-regulations.. We d8slgn-_" procedures in line with our responsibilitles, outlined above, to detect material misslatomenls in respect of irregularities. Including fraud. The extent to which our procedures are capable of delecting Irregularities, Including fraud is detalled below.. As part of our audit planning we obtained an understanding of the legal end gUlatOry framework that is applicable to the charity and th8 sector In whlch 11 op8rales to Identity the key laws and regulalions affecting th8 entity. The key laws and regulallons we identified were health and safely, safeguarding, data protection, employrnenl law. the Social Housing Regulation Act, and compliance with grant funding conditions. We also considered those laws and rggulallons that have a dlrecl impact on the preparation ol th8 financial statements, primarily the Companies Acl 2006, Charities Acl 2011 and compliance with the Charities St8tem8nl of Recommended Practice. We dlscussed wllh management how the compliance wllh these laws and regulations is monitored and discusséd policies and procedures in place. Wé also identified the individuals who have responsibility for ensuring that the entlly complies with laws 8nd regulations and deals with reporting any Issues if they arise. We assessed the susceptibility of the charitys financlal ststements lo material mistatement, Includlng how fraud mlght occur as part of the audit plannlng process. We determlned that these risks are low considering the f8cI that the charity operates on a nol for profil basis and so there would be no molivalion for management to influence performance for individual gain. Based on Ihls understanding we designed our audit procedures to identify non-compliance with Such laws and regulations. Our procedures involved the following.. We reviewed legal and professional costs to identrfy any non-compliance or legal costs In felation to non-compliance. ' We revlewed the board minutes for anng unusual. We made enquires to management regarding their knowledge of any non-compliance with18ws and regulations that could affect the financial statements. We reviewed a samplo of expendllure lo confirm 11 ha8 been Incurred and allocated to the appropriate fund. ' We rewewed the risk register for anything unusual. We audited the risk of management override of controls through 18sling joumal entries and other adjustments for appropriateness. As part of our enquiries we discussed with management whether there have been any known Instances. allegatlons or susplclons of fraud of vthlch there wère none. Page 13
YMCA Cornwall
Independent Auditorfs Report to the Members of YMCA Cornwall
8ecause of the Inherent Ilmitatlons of an audit, there is a rlsk that we will not detecl all Irrégulariti8$,
includlng those leading to a material mi8ststemenl in the financlal ststements. The risk of not
detecting a materfal mlsslatement due to fraud Is hlgher than thè rlsk of not detecting one resulting
from eor, as fraud may involve doliberate omls$ions, colluslon. forgery. mlsrepresentations. or the
override of intemal controls. We are also less likely to becom8 aware of Snslances of non
YMCA Cornwall Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrlct8d funds Restrlctèd funds Total 2025 Note Income and Endowments from: Donations and legades Charit8ble activities Other tradin9 activi1188 Investment income 13,370 1,116,338 34,700 3.575 105.718 119,088 1,116,338 34.700 3.575 Total Incom8 1.187.983 105.718 1,273,701 Expendlture on: Raislng funds Charltable activilieg (20,632) 1,062 307 120.632) 1.135.601 73,294 Total expènd51ure 1,082.939 73,294 1,156.233 Net income Translers beeen funds 85,044 32.424 4,367 117,488 Net movement In funds 89.411 28.057 117.468 Reconclllation ol fundg Totel funds brought fOnard Total funds carrled forward 412,878 252,175 665,053 21 502,289 280,232 782,521 The notes on pages 19 10 40 fomi an Integral part of these financial statements. Pa98 15
YMCA Cornwall Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Comparatlve Statom•nt of Financlal Actlvllie8 for the yoar endod 31 March 2024 Unrestrl¢ted Restricted f4Jnds funds Total 2024 Noto Income and Endowments from: Donallons and legacies Charll8ble aclivi118S Other Irading acllvillas Investment income 12.297 1,022,531 30,730 1,397 34,797 47.094 1,022,531 30,730 1.397 Tolal Income 1,066,955 34,797 1,101,752 Expendlture on: Raislng lunds Charllable activille$ {23,001) 1,060,246 {23,001) 1.100,329 40,083 Total expendlture Net expenditure 1.083,247 40,083 1,123,330 16,292 5,286 Net movement in funds (16,292) {5.286) (21.578) Rocon¢lllatlon of fund• Total funds brought fornard Total funds carrled forward 429,170 257,461 686,631 21 412,878 252,175 665.053 All ol the charity's activllles derlve from conllnuing operations during the above tw(> perlolys. The funds br8akdown lor 2024 Is shown In note 21. The notes on pages 19 10 40 fom) an integral part of these financial slalements. Page 16
YMCA Comwall (Registration number; 03684583) Balance Sheet as at 31 March 2025 2025 2024 Not Flxed assets Tangible assets 12 899,416 912.908 Currant assets Debtors Investrnents Catr¥li al bank and in hand 13 14 15 40,515 230 201,228 28,158 105,899 241,973 134.287 Credltors: Amounts falllng due wlthln one year Nèt current assets 16 108,680 101.117 133,293 33,170 Total asset8 1098 curront Ilabllltles 1,032,709 946,078 Credltors: Amounts lalllng due after Mora than onè y•ar 17 250,188 281,025 Net assets 782,521 665,053 Funds of the charlty: Restricted Unrestricted 280,232 502.289 252,175 412,878 Total funds 21 782,521 665.053 The fina ¢ial s lemenls on pages 15 to 40 were approved by the trustees. and authorised for issue and slgned on their b8half by: Nicola Hemsley (Chair) Truste8 The noies on pages 19 to 40 fom an integral part of Ihese financlal statements. Page 17
YMCA Cornwall Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operatlng activltl•s Net cash Incomel(expendltur8) 117,488 (21,578) Adlustments to cash flow8 from nonacash Iterns Depreciation Investment incom Profit on disposal of tangible fixed assets 103,303 (3.575> 101,080 {1,397) 5,679 72,426 217.196 Worklng capltal adjustmgnts (Incr8aseyd8crease in debtors Increasel(decrease> In creditors Net cash flows from operatlng aclivltias Cash flows Irom Invèstlng actlvltles Interest receivable and slmilar Income Purchase of tangible fixed assets Sale of tangible fixed assets 13 16 (12.357) 13.474 42,338 21.467 218.313 93,297 3,575 189.811) 1.397 (39.886) 7.049 12 Nel cash flows from investing activlll8s Cash flows from flnanclng aetlvltles Repayment ol loans and borrowings Repayment of capital element of financ818ases and HP contracts 86,236 31.440 16 (28.977) (51,562) 18 7.771 7,254 Net Cash flows from financing activitles Net Increase In cash and cash equlvalents Cash and cash equlvalents at 1 Aprll Cash and cash equivalents al 31 March 36,748 58.816 95,329 3.041 105.899 102,858 201,228 105,899 l of the cash flows arn derlved from r3)nlinuing operations durlng Ihe above periods. The notes on page5 19 to 40 form an int8gr81 part ol these financlal statements. Page 18
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charity status The charity is limited by guaranlee, incorporated in England & Wales, and consequ8nlly does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards th8 assets of the charity in the event of liquidation. The address of Its registered office is.. The Orchard Alverton Road Penzance Cornwall TR18 4TE 2 kn¢ountlng pollclos Summary of slgnificant accountlng pollclo$ and kay accounllng •8tlmato8 The princlpal accounting policies appli8d in the preparation of these financial statements are sel out below. These policigs hav8 been consistently applied to all the years presented, unless otherwlse staled. Statomonl ol ¢ompllanc• The financial s181em8nts hav8 been prepared in accordance wilh Accounting and Reporting by Charities: Statemènt ot Recommended Practice applicable lo charities prepanng Ihelr accounts in accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) - (Charities SORP (FRS 102)), the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companles Act 2006 and Charities Act 2011. Bas18 of preparation YMCA Cornwall meets the definitlon of a publlc benefit entity under FRS 102. Assets and Ilabilltlés are initially recognised at historical cost or transaction v81ue unless olhenwise sts18d in the relevant 8ccountlng policy note5. Golng concern The financial statements have been prepaffjd on a going cLJncem basts. Th8 trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related lo evants or condllions that may cast signiflcant doubt on Ihe ability of the charlly to continue as a golng conc8m. The trustees make this assessment in resp8Ct of a period of one year from the date of approval of the financial statements. Having consldered the future impact of Inflalion, loan covenants. cashflow and projected houslng service5 income, the trustees consider that there are no material uncertainties about the charilrfs ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Page 19
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Income and endowments All incom81s recogni5ed once th8 charity has enlillemenl to the Income. It Is probable that the Income wbll be receNed and the amount of the income recèlvable can be measured reliably. Donatlons and legaclés Donations are recognised when the certainty of recelpl and the amount recelvable has been established. Where thè donated good is a fixed asset. il is measured at f8ir value. unless it 18 impractical to measure this reliabty, in which case the cost of the item lo the donor should be used. The gain is recognised as income from donations and a corTesponding amount is included in the appropriate fixed asset class and depr8cialed over the useful economlc life in accordance vAlh th8 charilable companls acUntIng policies. On receipt, don8t6d professional services and facllllles are recognised on the basis of the value of tha gift lo Iha charitable company which Is thé amount il would h8ve been willing to pay to obtain seNlces or facilities of equivalent economic benefit on the open mark81: a corresponding amount is then recognlsed In 8xpendllure In the perlod of recelpt. Grants recelvablo Grants receivable are r8cognised in the year to which they relate. Grants are deferred when they relat8 to a speclfled future perlod. Gift ald Incomlng resources from tsx r8¢laims are Induded in the Ststement of Financlal Actlvities at the same tlme as Ihe gift to whlch they relate. Investment Income Inl8rest on funds held on deposit Is included when receivable and tho amount can be measured reliably by the charitable company. this Is normally upon notlflcatlon of the Interest pald or payable by the inslllution wilh whom the lunds ara deposited. Income tax recoverable In relatlon to Investment income is recognised at the tlme the investmant Income is recelvable. Expendlture Expenditure is recognised once there is a legal or constructive obligatlon lo transfer economic beneflt to a third party, it is probable that a transfer of economic benefits will be required in setllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by actNity. Th8 costs of each aclivlty are made up of the total of direct costs and shared costs, includlng support costs involved in undert8king e8ch activity. Direct costs attributable to 8 single activity are allocaled directly to that activity. Shared costs which contribut8 to more than one actlvity and support costs which are not attributabl8 lo a slngle actiwly are 8ppoth.oned béiween those 8Ctivlties on a basls conslstent th the use of resources. C8ntral staff costs are allocated on Ihe basis of time spent and dapreciation charge5 allocaled OTI the portion of the asset's use. All expendllure is Incluslve of irrecoverable VAT. P8ge 20
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Ralsing funds These are costs incurred in attracting voluntary income, the management of investments and those Incurred in trading actNitles that ralse funds. Charltable actlvlties Charltable expenditure comprises those costs Incurred by th& charity In the dellvery of Its activities and services for its beneficiaries. 11 includes both costs that can be allocated directty to such activities and those costs of an indirect nature necessary to support them. Support costs Support cosls inciude c6nlral lunclions and have been allocated to activity cost ¢ategoTi8s on 8 basis consistent with the use of resourc6s. for example, allocating property costs by floor areas, or per capita, staff costs by the Ilme spent arKI other costs by their usage. Taxatlon The charity is consldered to pass the tests S81 out in Paragraph 1 Schedule 6 of th8 Finance Act 2010 and Iherefore il meets the deftnition of 8 charitab18 company for UK corporation tax purpos8S. Accordingly, the charity is potentially exempt from laxation in respect of income or capital gains received wllhin categoriés covered by Chapt8r 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or galns ar8 applled excluslvely to charitable purposes. Tanglbl8 flxed assets Tangible fixed assets costing £1,000 or more are capitallsed and recognlsed when future economic benefrts a probable and the cost or value of the asset can be measured reliably. Tangible fix8d 8ssets ar8 initially recognlsed at cost. Aftèr recognitlon. under the cost model, tangib18 fixed assets ar8 measured at costlass accumulated depreciation and any accumulated impaimient losses. All ¢¢)sls incurfed lo bring a tanglble fixed asset Into Its intended worklng conditlon should be included in the measurement of cost. Depreclatlon and amortlsatlon Oepreciation Is provlded on 18ngiblè fixed assets so as to wrtle off the cost or v8luallon, less any esllmated resldual value, ov8r their expected useful economic lrfe as follows.. A8SOt class Fre8hold property Motor vehicles Fixtures and filtings Office equlpment Land Deproclatlon method and rat• 10-20 years straighl line 5 years straight line 5 years straighl line 3 yeats straight line Not depreciated Stock Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. C051 includes ell dlrect costs and an appropriate proportion of fixed and varlable overheads. Page 21
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at thè amount prepald net of any trade dlscounls due. Cash and ¢ash equlvalents Cash at bank and in hand includes cash and short-temi hlghly liquid investments with a short maturity of three monlhs or18ss from the date of acquisltion or opening of lh8 deposit or similar account. Llabilltles Llabilities are recngnised when there Is an obllgation al the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement Gan b8 estimated reliably. Llabiliti8s are recognised at lh8 amount Ihal thè ¢harltable company antlclpates It wlll pay lo sèttl8 tha debt or the amount it has received as advanced payments for the goods or SeNices it must provide. Provlslons Provisions are measured at the best estimate of the amounts required to setll8 th8 obligalton. Whère the eff8Ct of thè time value of money is matenal, the provlslon is based on the present value of those amounts, dSscounted at th8 pre-tax discount rate that reflects the rlsks spé¢ifi¢ lo thg liablllly. The unwinding of the dlscount Is recognised in the Statement of Financial Aclivilies as a flnanca ¢ost. Fund accountlng General funds aré unrestricled lunds which ar8 avallable for use at the discretion of Ihe Trustees in furtherance of the general objectives of the charltable company and which have not been designated for other purposes. Designated funds comprlse unreslrlcted funds that have been set aslde by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the flnancial slalemenls. Reslricled funds are lunds which are to be used in accordance with specific restrictions imposed by donors or whlch have been ralsed by th8 charitable company for partlcular purposes. The costs of raising and administering such funds are ch8rged against Ihe specific fund. The aim and use of each restricted fund is sèt out in the notes to the flnanclal statements. Investment Income, galns and105ses are allo¢ated to the approprlate fund. Penslons and other p081 retirament obllgatlons The charitable company operates a defined contribulion pension scheme and the pension charge represents Ihe amounts payable by the charllabl8 company to the fund In respect of thè year. Flnanclal Instruments Classlflcallon The charitable Gompany only has financial assets and financlal liabilitie5 of a kind thal qualify as basic financial instruments. Page 22
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Recognltlon and measurement Basic financial instruments are initially recognised al transaction value and subsequently measured at thelr selllemènt valu8 wlth the exception of bank loans which are 5ubsequenlly measured at amortised cost using the effective interest method. 3 Income from donatlons and lega¢les Unrestrlcted funds Restrlcted funds Total funds Oonations and legacies: Donatlons Grants, includlng capital gr8nls,' Granls. Including capital grants 11,574 37,102 48,676 68,616 105,718 70,412 119.088 Total for 2025 13.370 Total for 2024 12,297 34,797 47.094 4 Incom• from chafltablo actlvlllas Unrestrlcted funds Total funds Houslng support 8eNlces Rent Other services 731,484 333,882 50,972 731.484 3J3,882 50,972 Total for 2025 1,116.338 1,116,338 Total for 2024 1.022,531 1,022,531 Paga 23
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 S Income from other tradlng actlvlti8s Income from fundraising actwilies Unrestricted funds Total funds Trading income; Cafe income 34.700 34.700 Total for 2025 34,700 34,700 Total lor 2024 30,730 30,730 6 Invastm•nl Income Unrestrlcted funds Total funds Investrnént income 3,S75 3.575 Total for 2025 3,575 3,575 Total lor 2024 1,397 1,397 7 Expendlture on ral8ing fund8 a) Costs of tradlng activltle8 Unr¢$trlcted funds Total fund$ Costs of goods sold (cafe) Total for 2025 20,632 20.632 20,632 20,632 Tolal for 2024 23.001 23,001 Page 24
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 8 Expendltura on charftable activlties Actlvlty undertaken diro¢tfy Actlvlty support costs Tolal expendlturé Expended In pursuance of charitable objects Total for 2024 741,861 393,740 1,135.601 758,776 341,553 1,100.329 £1,062,307 12024: £1,060,246) of Ihe above expenditure was attribut8ble to unrestrfcled funds and £73,294 (2024.. £40,083) lo restricted funds. Analysls of expendllure on charitable actlvltios Total funds 2025 Totsl fund¥ 2024 Dlrect Costs Payroll costs Other staff costs Outings, acllvities and welfare Security cover Motor and travel 844.590 5,520 8,544 77,806 4.401 741.861 664,007 9,634 7.442 72.511 5,182 758.776 Support Costs Oeprecialion Rant & rales Water Light and heat Communlcalions Office supplies Audlt fees Legal & professional Affiliation & m8mb8rshlp8 Insurance Irrecoverable VAT Sundry expenses Repairs & maintenance Cleanlng & refuse Finance costs {Profit)lloss on dlsposal of fixed as68ts 103,303 3,172 13,959 38.962 10,801 16,876 14.460 7.757 6.769 11,429 56,313 2,495 58.349 13,890 36.205 101,080 3,001 11,940 27,443 9,519 28,492 8,250 4,031 5,385 8,750 47,021 1.794 58,771 14,569 17,186 5,679 393.740 341,553 Page 25
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Included wthin the expenditure analysed above, there are govemance costs of £14.460 (2024: £8,250) which relale directly io charitable activities. 9 N•t incomlngloulgolng re•ource8 Nel incoming/(ouigoingl resources for the year include: 2025 2024 OperalSng leases - olher assets Audit fees Other non-audit s8rvlc8S DepCIatIon of fixed assets 1,759 11.460 3,000 103,303 1.759 5,000 3,250 101,080 10 Trustees r•mun•rallon and expon8es No truslees, nor any pérsons connected wlth them, have rec8lved any rèmuneratlon from th8 charity during the year. Dlrectly Incurrad Trustee expenses bome by the Charlly In the year lot8lled £239 (2024.. £194) and were paid to 3 Trustees (2024.. 2). All expenses related lo travel. At the year end the amount due to trustees was £9512024: £nil). 11 Staff cos18 The aggregate p8yroll costs were as follows: 2025 2024 Wages and salarles Social securlty cosls Penslon costs 576,587 43,564 24.439 590,976 44,858 28,173 664,007 644.590 In addition to the above staff costs wages and salarles, soclal security costs and p8nsion costs totalling £16,914 (2024: £13,183) were capiialised during the year wlth regard to capital works. These costs are Included within additions in the tangible fixed assels nole. Page 26
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 The average number of persons employed by the charity during the year was as follows.. 2025 No 2024 Management and adminlslralion Housing s8rvices and support Airplay Youth 18 18 28 29 During the year, the charity made redundancy andlor temiinalion payments which tolalled £Nil (2024.. £21,754). The termination payments made in the prior year were contractual payments In Ileu of notice. No employee recelved emoluments ol more than £60,000 during the year. The key managemeDI p8rsonn81 of the charity are the Chief Execullve Officer. Financé Manager, Housing Manager and Corporate Services Manager. The total employee benefits of the key management personnel were £189,70112024; £213,412). Page 27
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 12 Tanglble flxed assets Freehold property Flxtures and tittlngs Motor vehlcles Offlce oqulpment Total Cost At 1 April 2024 Additions 1,345,289 85,829 35,190 1,650 49,999 51.181 1,481.659 2,332 89,811 At 31 March 2025 1,431,118 36.840 49,999 53.513 1,571.470 Oepre¢latSon At 1 Aprll 2024 Chargè for the year 483,055 27.672 17,500 40.524 568,751 82,479 2,772 10,000 8,052 103,303 At 31 March 2025 565,534 30,444 27,500 48,576 672,054 Nèt book value Al 31 March 2025 865.584 6,396 22.499 4,937 899,416 At 31 March 2024 862,234 7.518 32,499 10,657 912.908 13 Debtorn 2025 2024 Trade debtors Prepayments Accrued Income 3.094 11.091 26.330 2,850 2,442 22,866 40,515 28,158 14 Current asset Investments 2025 2024 Unlisted Investments 230 230 Page 28
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 15 Ca8h and cagh equlvalents 2025 2024 Cash on hand Cash at bank 13.900 187,328 201,228 9.411 96,488 105,899 16 Credltor•: amounts falllng due wllhln one year 2025 2024 Bank loans Trade creditors other loans Hlre purchase 8nd finance lease8 Other taxation and social security VAT liability Other creditors Accruals 7,756 24.062 27,188 8,325 12,625 732 4,471 23,521 108,680 7,311 16,102 34.098 7,771 10,523 564 2,821 21,927 101,117 Creditors due within one year Includes the following liabllitias, on lch security has b88n given by the charity". 2025 2024 Other loans Bank loans Hire purchase and finance leases 23,430 7,756 8.325 29.384 7,311 7,771 39.511 44.466 The loans are $ecur8d over freehold propertles held In tangible Ilxed assets. The finance lease is secured over a motor vehicle. Page 29
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 17 Creditors: amounts falllng due after one year 2025 2024 Bank loans Other loans Hire purchase and finance leases 238,661 233,985 27,188 19,852 11,527 250,188 281,025 Credltors amounts lalling due after more than one year Includes the followlng Ilablllti8s, on whlch security has been given by the charity.. 2025 2024 Other loans Bank loans Hlre purchase and Ilnance leases 23,430 233,985 19,852 238,681. 11,527 277,267 The loans are secured over freehold properties held In langlble flxed assets. The flnance 18ase Is secured over a motor vehicle. During the year, the Charity continued lo reduce its oblig8tion to Big Issue Invest. No long.lem liability Is now due, with the flnal payment scheduled for December 2025. Included In the creditors are the following amounts due after more than flve years: 2025 2024 After more than fflve years by instslments 201,739 197,651 18 Obllgatlons under108908 and hlro purchase conlra¢t8 The total value of future minimum lease payments related to the eleclrlc minlv8n was 88 follows.. 202S 2024 Withln one year In two to five yèars 9,434 12,078 21,512 1.660 9.434 21,512 30,948 Less flnance charges allocated to future perlods 3,323 27,623 19,852 Page 30
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Assets held under finance leases Electrlc mlnlvan A £10,000 deposit has been paid towards the purchase of the electrtc mlnivan. The remalning £40,000 is held under a 5 year finance lease which commenced In June 2022. The APR is 6.90A and fflonlhly payments are £786.20. The nel carrying amount of the vehicle a131 March 2025 is £22.500 and included in the Motor asset class in th8 fixed assets noté. Operatlng l•a8e commitments Total future mlnimum lease payments under non-cancellable operating leases are as follows.. 2025 2024 Othgr Within one year Between one and five years 1,759 293 1,759 2,053 3,812 2,052 19 Penslon and other schemes Deflned contrlbutlon pension s¢heme Th8 charity operates a defined contribution p8nslon scheme. The pension cost charge for the year represents contributions pay8ble by the charlty lo the sch8m8 and amounted lo £24,439 (2024., £28,173). Contributions tolalling £3,346 (2024.. £2,863) w8re payable to the scheme at the end of the year and are included in creditors. 20 Commitmenls Capltal commitments There Is a capital commitm8nt In relation to boller works at the year end. whereby a 50% deposll for the work has been paid, but the works were not carried out unlll Summer 2025. The remainlng 50% has therefore been dlsGlosed as a capital commltment. The lolal 8mount contracted for but not provlded in the flnancl81 statem8nts was £7,18012024= £NII). Page31
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 21 Funds Unrestricted funds Balance at l Aprll 2024 Balance al 31 March 2025 Ineomlng Rasources re$our¢es expended Transfors Unreslrlcled funds General General unrestricted funds 358,406 1,167.983 (1.082,939) 4,367 447,817 Deslgnatod Major repairs fund Project development fund 48,390 6,082 48,390 6,082 54.472 54,472 Total unrestrlcted fund8 412,878 1,167,983 1,082,939 4.367 502,289 Restrlcted funds Gapllal fund Homeless Link Coffee shop refurbishment Housing and re88tt18ment support service Refurbishment of hostel Appletree House refurbishment Comwall Indepèndent Poverty bursaries T8sco Bags for Lif8 Morris House conversion Lloyds Bank Foundation core grant Big Lottery Funding CCF Emergency Fund & Cornwall Community Crisis Fund B&a Foundation Other restricted funds Bertrice Laing Trust streetsmart - Resident Activities 136,465 873 136,465 (873) 1,127 1.127 1.770 2.138 1.770 2,138 1.641 (2,200) 559 1.986 1,355 18.147 1.986 1,336 51,667 (19) {3,5821 37.102 1.587 12.109 1,587 6,411 (2,849) (2.849) 1,583 3,625 5,943 1,524 5,000 (8,182) (500) (1,8721 (255) 401 3,125 5.774 1,269 1,703 893 893 Page 32
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Balonca at 1 April 2024 Balance at 31 March 2025 Incomlng Resources résourcas expended Transfers L8nd Ald Shekhinah - Welcome packs Rotary Club SW Trust Fund Big Lottéry WIFI-&-C'CTr" Upgrade Clair8 Milne Stairfift CCF Upper St Levan Boller Leonard Laity - Resident Starter Packs Skipton Bullding Society Residents Activities Percy Billon Fridgelreezers Albert Hunt Tru8t- Housing staff LandAid - Vèlux window8 S¢r8vffjix - Chetyree refurb CCF . Inlomi D8tab8se & Ir8ining B&Q . Cherrree r8furb CCF- 8oller CCF - Police Property Fund - CCTV CCF - Proleclor The Natlonal Lottery Communiiy Fund - Boiler Sedel Collins Fund Sl James Place 22,930 2.500 (11.374) (2.077) 11.979 413 6.114 100 413 4,837 100 500 (1,777} 3,490 5,063 <2,643) (857) 847 4,206 4.158 (440) 3,718 365 (951 270 2.936 (154) 2,782 250 250 7,000 500 7,000 {8,080) 5,920 500 4,532 (4,532) 1,558 1,558 3,952 1,997 10,000 1,997 (6,048) 5.000 1.500 {478) (302) 4,522 1.198 15.234 8,182 10,000 15,234 (8,182) 10,000 Total r08trl¢ted funds 252 175 105,718 280,232 73.294 4,367 Total lunds 665.053 1,273,701 1,156.233 782,521 Page 33
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at I Aprll 2023 Incoming re80urces Resources Balance at 31 expendod March 2024 Unr•stricted funds General General unrestricted funds 374,698 1,066,955 (1,083.247) 358,406 Deslgnated Malor repairs fund Project development fund 48,390 6,082 48,390 6,082 54,472 Total unrostrlcled funds 429,170 1,066,955 1,083,247 412,878 Restrlct•d Capital fund Homeless Link Coffee shop refurbishment Housing and reselllament 5UPPOrt service Refurbishment of hostel Appletree House refurblshmenl Comw811 Ind8pendent Povety bursaries Tesco Bags for Life Morris House conversion Lloyds Bank Foundation core grant 8lg Lottery Fundlng CCF Emergency Fund & Cornwall Community Crisis Fund B&Q Foundallon Other restricted funds Bertrice Laing Trust Slreetsmart- Resldent Acliwtles Ludgvan Church - Resldent Activities Land Aid Shekhinah - Welcome packs Rotary Club SW Trust Fund Big Lottery WIFI & CCTV Upgrade 136.465 873 1.127 136,465 873 1,127 1,770 2,138 1,770 2,138 2.375 (734) 1,641 1,986 612 20,647 1,986 1,355 18,147 1,000 (257) 12,500> 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 3.625 5,943 1,524 697 893 893 408 26,569 113 12,060 100 (408} (3,639) 22,930 413 6,114 loo 300 (5,946) 6.522 (3,032) 3.490 Page 34
YMCA Comwall Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 1 April 2023 Incoming resources Resources Balance at.31 expended March 2024 Claire Milnè - Stairlift CCF Upper Sl Levan Boiler Leonard Lalty - Resident Starter Packs Skipton Bullding Society Residents Aclivilies Quakers - Velux windows Percy Bilton - Fridgefreezers Albert Hunt Trust- Houslng staff Bertrice Lalng Trust.. Flat fumlshings LandAid - Vèlux windows Rotary- Hug in a box Screwnx - Cherrytree relurb Rotary - Residenls fumlshlngs CCF - Infomi Database & training Total r•strf¢ted funds 5,920 4,927 (857> (769) 5,063 4,158 762 (397) 365 2,936 2.936 2,500 3,000 12,500) (2,750) 250 7.000 7,000 2,500 3,000 1,500 6,000 1,800 (2,500) (2,500) (1,5001 (1,4681 11.800) 500 4,532 1,442 1.558 257.461 34,797 40,083 252,175 Total funds 686,631 1.101,752 1,123,330 665.053 Page 35
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 The specific purposes for which the funds are lo b8 applied are as follows.. Designated funds Major repairs fund - Tha Trustees have designated funds for major repairs which may be requlred at Appletree House, Chetyree House and Sl Levan in the future. Included In the balance of this fund is the n81 book value of capital asset5 purchased as part of the works and as such in future years depreciation on these asse15 will be allocated to this fund. Project developm8nt reserve - The Trustees have deslgnaled funds for the start-up costs and ongolng costs of projects around Comwall. Restric18d funds Capltal lund - The freehold propety is held wlthin this fund which Is being depreclaled over the expecled life of the building al 2Yo per annum. The balance at the year-end is equal to the net book value of the property. Homeless Link - The funds were provided as part of Homeless Link's Covid-19 emergency funding to help a118viate losses and additional expenditure related lo the Covid-19 pandemic. Coffee shop refurbishment - These funds were recelved from th8 Blg Lollery Awards for scheme and Beatrice Lalng Charitable Trust in order to craale an open to all catering facllty within YMCA Comw811 in the existing dining area which was in serious need of modemisatlon. Expéndllure in the year is on depreciation of capital assets purchased during this proSect. Housing and resettlement support service - These funds were received from the Henry Smllh Charity, The Kestrelman Trust, Masonlc Charltable Trust and Sl James Place In order to enable staff to work to settle and help integrate young houslng clients into the community by helplng them move on to secur8. independanl accommodation. enter training or ernploymenl or secure benefits. Refurblshment of hostel - Fundlng was recelved Irom the Blg Lottery fund In order to refurblsh Ihe Backpackers, Hostel at YMCA Comwall. Appletrèe House refurblshment - Thls grant was awarded by The Garfleld W8Ston Foundation towards the refurbishmenl of Applelree House. Comwall Independent Poverty bursar4es - These funds are received for the general runnlng costs of provlding accornrnodalion for the homeless young people of Comwall. Tesco Bags lor Lrf8 fundlng - Funds were recelved from the Tesco 8ags for Life Initiallve for the provision of small items of fumilure and other household equipment for Morris House residents. Page 36
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 CCF Emèrgency Fund This grant was awarded to cover part-tlme salary costs for the frontline housing staff working directly wllh the young peoplè on site for 12 months. Morris House Conversion Funds were received Irom CRASH charity, Land Aid Ch8rilable Trust, Th8 Sylvia Waddilove Foundatlon and The Albert Hunt Trust towards the conversion of Morris House into 20 n8w nats for young people. Lbyds Foundation - The grant was awarded to fund an addltional housing support offlcer to help wlth increased case loan upon Ihe creation of the Morris House conversion. Big Lottery Fund Thls grant was awarded to fund the purch858 of an electric vèhicle to replace the diesel minibus that was operated to help the YMCA Comwall reduce it's carbon footprint and to transport residents to events and appolntments along wlth some business related joumeys. B&Q Foundation Morrls House This grant is to help wlth materlal costs for the final phase of the Morris Hous8 conver8lon project to 8nable us to house more resldents on 8it8. Berttce Laing Bike Shed - This granl Is to fund a naw blke shed for YMCA vlsilors. Street8mart Resident Activities To fund r88idents events and actlvites, including organised days out and èvents on sile. Ludgvan Church Resldent Actlvlties org8nlsed days out and events on slte. To be used on resldents events and acliviles, including Land Aid - L8ndAld originally fijnded the renovation of the Applelree bullding. A retention of £2,500 was withheld pending Internal completion 8nd slgnaoff by the funder, which was subsequently released in FY2025. Shekhlnah Welcome Pae.kFJ - Thlg grant Wo8 lo provlde vffjlcome packs for new rejldents loinlng YMCA. Rotary Club The Rotary Club provided funding to 8UPPOrt resldents, welfarè and activities. Th18 funding was utilised for residents, cooking Clubs, social sessions, and skllls development activities. SW Trust Fund . The South West Trust Fund, which holds funds on behalf of all YMCAS in th8 South West, provided financial support for staff training, including Health and Safety {NEBOSHI and a Chartered Institute of Houslng (CIH) diploma for team members. Page 37
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Cornwall Community Crisis Fund The Cornwall Community Foundation (CCF) provided fundlng for emergency uisis vouchers to support residents experlencing hardship, particularly where income has been withheld by social services. These funds were primarily used lo purchase Tesco vouchers to help residents meet essential food needs Big Loltery WIFI & CCTV Upgrade - Funding from the National Lottery Awards for All scheme was lo upgrade our Wi-Fi around the building and integrate CCTV into the same system. Prior lo the new Wi•Fi system from Ubiquiti we had 8 number of black spots around the site which often affected residents flats and Ih8lr abillly to get a stable eonnecllon for college work. the new system offers superfast broadband Wi-Fi for the whole sile. This was phase one of the proj8Ct and this year we integrated Ubiquiti CCTV cameras which will improve the quality of recordin.g including sound if needed. Skipton Buildlng Soclety Residents Aclivities Sklpton 8uilding Society have provlded funds for resident activities which include off sile days out along with in house cooking and art clubs plus Monthly residénts 8oGlal pizza & pt)Jl night. Leonard Laity Resident stsrter Packs The Leonard Lalty Stoate Charitable Trust provlded funding for resld8nts starter packs for essentials that many of our resld8nts do not have when they arrive at the YMCA Cornwall, itèms include bedroom furnishings, Cooking utènsils and kitchen Items. Clalre Mllne Stairtlft -The Claire Milne Trust provided us wlth fundlng io install and maintain a stair lift lo our studio downstsirs as it was dlffi¢ult for vi5ilors and resldenls with disabi1Sti8s to ac¢es$. CCF Upper St Levan Boiler - The Comwall Communlty Foundation Pfo¥ided funding for a new boller In our admln offlce. Quakers Velux Windows - The grant from the Quakers was lo help towards the cost of replacing the Velux wlndows In our Studio 2 room. Thls ensured that could continue lo offer the space to local comfflunity groups who used it. Percy Blllon - The grant enabled us to pur¢has8 len Iridge-freezers lo ensure that recently renovatad flats had good quality modern appllances. Albert Hunt Trust housing staff - The Albert Hunt Trust funded addltional hours for three Housing Support Workers over a six-monih period. enabling staff to dedicate more lime to residents with complex needs. B8rti¢e Lalng Trust flat fumishings - Some of our residents do not have any of their own fumiture when they arrlve at the YMCA Comwall, Ihe grant from Bertrice Laing Trust enabled us lo purchasa good quality items designed for use in scenarios like ours. LandAid Velux windows - The 9ranl from the LandAid was lo help towards the c051 of replacing the Velux windows in our Studio 2 room. This ensured that we could continue to offer the space to local community groups who used11. Rolary hug in a box - These fijnds were given lo the YMCA Cornwall to allow us to glv8 each resldent a selection of gifts for Christmas. Scr8wfix Cherrytree refurb - This grant was given lo continué with the refurbishm8nt of the Cherrytree building, the funds wll go towards new kltchens. bathrooms and flooring. Page 38
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Rotary resldents furnishings - Some of our residenls do not have any of their own furniture when they arrive at the YMCA Comwall. the grant from Rotary Shop Penzance enabled us lo conllnue lo purchase good quallty items designed for use in scenarios like ours. CCF Infomi database & training - This grant was to fund software and training for a new datsbase that is used by our housing team to track indlviduals in our care. This will soon be a mandalory requirement for supported houslng providers. B&Q Foundallon Ch8rytree Renovation The B&Q Foundation. via N8ighbourly. provided funding to contlnue the renovation of our recently acquired Cherrrea building. This funding was used lo -purchase.and.install naw..kitchens_and_b_a_Ihrooms. Sedel Collings - Sedel Collings, vla the Cornwall Communlty Foundallon, funded additlonal hours for three Housing Support Workers over a six-monlh period. allowing staff to provide enhanced support to residents with more complex needs. CCF Boller Shortfall The Comwall Communlty Foundation are lunding tho shortfall in the cost of a new boiler initially financed by the National Lotterfs Awards for All programme. Due to delays and increased costs, CCF contrlbuled the addltional amounl requlred to complete the Installation. Pollce Property Fund CCTV Upgrade Through the Cornwall Communlty Foundation, the Police Propety Fund supported Phase Two of our Wi-Fi and CCTV upgrade. This funding covered the Infrastructure required lo Instsll higherquallty cameras Integrated with our Wi-Fi system. St. James's Place Foundation Funding from the St. James's Plac8 Foundatlon was allocated toward5 Staffing Costs within the Supported Housing Team. CCF Projector and Screens The Comwall Community Foundation funded the purchase of a new projector and projector screens for use within our oroanisation and community actNlties. Natlonal Lottery Awards for All Tl)e National Lotterys Awards for All programm8 is funding the replacement of tha maln buildlng's boiler, upgrading an ageing bas8ment sysl8m to a sm811er, more energy-èfficient model. Transfers between funds have been made to.cover excess expenditure on r8slricled funds and to allgn balances tied up In restrlcted fixed assets with the relevent asset net book values. 22 Analysls of net assets between funds Total funds at 31 March 2025 Unr¢$trl¢tèd funds Goneral Deslgnaled RoStrlct•d funds Tanglble fixed assets Current assets Current liabilities Creditors over 1 year 671,162 135,523 (108,680) 250,188) 447.817 228,254 51,978 899,416 241,973 (108,680) 250,188 54.472 Total nel assets 54,472 280,232 782,521 Page 39
YMCA Cornwall Notes to the Financial Statements for the Year Ended 31 March 2025 Total funds at 31 March 2024 Unrestrfcted funds General Deslgnated Rostricted funds Tanglble fixed assets Current assets Current liabililles Creditors over 1 year 709.070 31.478 (101,117) 281,025 203,838 48.337 912.908 134,287 (101,117) 281.025 54,472 Total net assets 358,406 54,472 252,175 665,053 23 Analy$ls of net funds At 1 Aprll 2024 Flnanclng At 31 March cash flows 2025 Cash at bank and in hand Debt due wilhln one year Debt due after more than one year Finance leases and hlre purchase contracts Nel debt 105.899 <41,409) {261,173) 27,623 95.329 34,944 22,512 7.771 201,228 16,4651 (238,661) 19,852 224,306 At l Aprll 2023 180.556 63,750 Flnanclng Al 31 March cash flows 2024 Cash at bank and in hand Debt due within one year Debt due after more than one year Flnanc8 leases and hSre purchase contracts 102,858 (39,499) (314,645) 34,877 3,041 (1,910) 53.472 105,899 (41.409) {261,173) 27.623 Nel d8bt 286,163 81.857 224.306 24 Rolated party transactlons Durlng the year the charlty made the followlng related party Ir8nsactlons: Alverton Holdlngs Llmlted (Derek Tllby is a director of the dormant company) YMCA paid for the confirmation slalement to be filed, a corporation lax fine 8nd web-filing cost for a total of £164 {2024: £131. At the balan¢e sheet date the amount due tolfrom Alverton Holdings Limited was £Nil (2024- £Nil). Page 40