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2023-03-31-accounts

YMCA BRUNEL GROUP & SUBSIDIARY (FORMERLY MENDIP YOUNG MEN'S CHRISTIAN ASSOCIATION)

(Regulator of Social Housing registration: 4871 Company Number: 03719773 Registered Charity Number: 1074660)

REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

YMCA BRUNEL GROUP

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2023

CONTENTS

Page
Reference and administrative details 1
Trustees' report 2-11
Independent auditors' report 12-15
Statement of comprehensive income - Group 16
Statement of comprehensive income - Charity 17
Balance sheet - Group 18
Balance sheet - Charity 22
Statement of change in reserves - Group 24
Statement of change in reserves - Charity 25
Statement of cash flows - Group 26
Statement of cash flows - Charity 27
Notes to the financial statements 28

YMCA BRUNEL GROUP

REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 March 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees
Mr R Caddick
Rev. C Hare
Mrs M Hare
Mr S Harrison
Mr D Pendle (Chair)
Mr P Rose (Treasurer)
Ms K Patel
Secretary Mr M Fairbeard
Chief Executive Mr M Fairbeard
Senior Management Team Mr M Fairbeard Chief Executive
Ms J Honeywell Director, Children’s Services
Ms P Fairbeard Director, Strategy & Communications
Mr D Bowler General Manager, The Bristol Wing
Mr M Wilcox Director, Youth & Community
Ms S Montagne Head of People Management
Mr J Marshall Director, Finance
Ms M King Director, Housing Bath
Registered Company Number 3719773
Registered Charity Number 1074660
Regulator of Social Housing Number 4871
Registered Office International House
Broad Street Place
Bath
BA1 5LH
Auditors Sumer Audit
County Gate
County Way
Trowbridge
BA14 7FJ
Solicitors Tozers Solicitors LLP,
Broadwalk House,
Southernhay West,
Exeter
EX1 1UA
Bankers National Westminster Bank,
24-25 Stall Street,
Bath
BA1 1QF

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YMCA BRUNEL GROUP

TRUSTEES’ REPORT

For the year ended 31 March 2022

The Trustees are pleased to present the financial statements for the year ended 31 March 2023 and confirm that they comply with United Kingdom Generally Accepted Accounting Practice (UK GAAP), including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland.’

OUR OBJECTIVES

The objects of the group arise from its acceptance of the Basis of Union of the Young Men's Christian Associations of England, Ireland and Wales adopted by the British Young Men's Christian Association Assembly held in Birmingham in the year 1973, that is to say:

"The Young Men's Christian Associations seek to unite those who, regarding Jesus Christ as their God and Saviour according to the Holy Scriptures, desire to be His Disciples in their faith and in their life, and to associate their efforts for the extension of His Kingdom. Any difference of opinion on other subjects, however important in themselves, shall not interfere with the harmonious relations of the Associations of the Young Men's Christian Association Movement in England, Ireland and Wales".

Accordingly the objects of the association are:

In shaping the objectives for the year and planning activities the Trustees have considered the Charity Commissions guidance on public benefit.

AIMS

YMCAs in England are autonomous charities who affiliate to YMCA England. Their core purpose is to meet the diverse needs of young people regardless of gender, age, race, ability or faith. The YMCA as a movement works with young people, families and the wider community by providing a range of high-quality programmes that support and develop them in mind, body and spirit.

YMCA Brunel Group seeks to achieve this, both within the charity work and through its subsidiary trading company Tria-Aktiv (UK) Ltd.

The main focus of the charity is the personal development of individuals by creating pathways that allow individuals to access health and wellbeing activities, supported and move on accommodation, low cost childcare, and youth and community clubs and projects. This is all achieved within a Christian ethos where our values and integrity are central to the work and meet the objects stated

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

above (a, b, c, d, e and f).

The Trustees confirm that they have due regard to the Charity Commission’s general guidance on Public Benefit, ‘Charities and Public Benefit’.

Vision:

We build strong communities where everybody can belong, contribute and thrive.

Values:

Inclusion

We recognise that every person is different but equally valuable. We actively include people at every level of our organisation, ensuring that our service users, young people, staff, trustees, volunteers and customers are representative of the communities that we serve. We work hard to enable each person to realise their potential.

Compassion

Our work is focussed on connecting with people, and responding to them in a caring and compassionate way.

Community

We believe that we are designed to live alongside other people. Our work actively creates opportunities for the people who are part of the YMCA (our young people, service users, staff, volunteers, customers etc) to be part of a community.

Humility

We are here to serve the needs of the communities in which we work. We don’t know everything. We listen to, and work alongside others to ensure that together we are making an impact where it is most needed. If we make mistakes – we learn from them and are honest and open about it.

Creativity and Innovation

We aren’t afraid to try a new approach or take a measured risk to increase the impact we make and respond to the challenges in our communities.

Sustainability

We think about the future, working in ways that bring about long-term benefit to our communities and our planet.

OUR ACTIVITIES

YMCA Brunel Group provides a range of services for people and communities in response to their needs, with the emphasis on supported housing and homelessness, youth and communities, children’s services and nurseries and health & wellbeing.

MEASURES USED TO ASSESS OUTCOMES AND SUCCESS

The charity seeks to measure outcomes and success in all aspects of its work. The approach is tailored to the specific activity but includes the number of participants, approval rating (hostel), move-on data (supported housing), Family outcome tracking (Childcare), member journey software (health & wellbeing) in addition to reporting budgetary and financial outcomes.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

We seek to collect stories from individuals who have been positively affected by our work and respond promptly and review learning when there are complaints or negative experiences.

SAFEGUARDING STATEMENT

"The YMCA’s vision is of an inclusive Christian movement, transforming communities so that all young people truly belong, contribute and thrive."

YMCA Brunel Group aims to create and maintain a safe and secure environment for all staff, trustees, volunteers, residents and visitors to our facilities.

In particular the Association is fully committed to safeguarding all children, young people and vulnerable adults that come into contact with our work.

We believe that all children, young people and vulnerable adults have an absolute right to protection from abuse, regardless of their age, race, religion, ability, gender, language, background or sexual identity and consider their welfare is paramount.

We will: -

INFORMATION OF FUNDRAISING PRACTICES

YMCA Brunel Group generates most of its funds through contracts, subscriptions, grants and donations, plus the commercial activities of it trading subsidiary. We employ a part time Events and Fundraising Manager to help raise awareness of our work, manage events and coordinate all fundraising initiatives such as applications for grants, trusts or funds.

As YMCA Brunel Group does not currently run any fundraising campaigns, other than accepting donations, we do not currently subscribe to any fundraising regulation schemes.

YMCA Brunel Group has not received any complaints about its fundraising activities, and other than via its website, does not actively pursue funds from the general public.

STRATEGIC REPORT

YMCA Brunel Group and the Current Challenging External Environment

On 1[st] April 2020 YMCA Mendip and YMCA Bath Group merged together to form a new YMCA – YMCA Brunel Group.

At roughly the same time the UK, (and the rest of the world), encountered the beginning of the COVID 19 Pandemic. This led to a number of national and local lockdowns and the suspension of trading for many businesses.

The economic environment in which we are currently operating is presently turbulent, and the UK is still recovering from the COVID pandemic, whilst at the same time feeling the financial consequences of both Brexit and the current war between Russia & Ukraine. Overheads and salary costs are rising, and are expected to continue to do so for the foreseeable future. The labour market it also stretched, and it is becoming more and more difficult to fill vacancies, especially in our Housing and Childcare projects.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

OUR ACTIVITIES

The activities of YMCA Brunel Group can be broken down into 4 core areas: Housing & Support, Children’s Services, Youth and Community Services and Health and Wellbeing Services.

HOUSING AND SUPPORT SERVICES

16 - 25 year olds

We currently house and support 82 clients across 9 Projects in South Somerset and Mendip, 17 of which are living in our dispersed flats receiving floating support. This is as part of the Pathways to Independence contract we hold with Somerset council. We provide high quality support to all young people living in our projects, ensuring they are always at the centre of everything we do, are treated as individuals with their own unique journey planned through the pathway to independence. The support we provide each person includes, guidance, advocacy, activities and life skills support. We have a high success rate where supporting clients into education, training and employment.

Adult and Homeless Services

We provide a supported housing project for adults with complex needs with a home and support to develop life skills, access specialist support and prepare to move on to independent living. The support we offer is funded by Somerset Council. The Tenancy Accreditation Scheme (TAS) also assists with setting up and maintaining a tenancy and includes a modular life skills programme to help reduce repeat homelessness. Our Deposit Scheme is administered on behalf of the Council and provides deposits to landlords for anyone aged 18+ who is in receipt of benefits or on a low income.

Platform 4 Life

As part of our work with vulnerable young people we worked with B&NES council to secure funding to implement this project. We purchased four 4 bedroomed houses (2 in Bath and 2 in Keynsham). These homes are allocated to young people in education or employment. They each have their own room and share facilities in the house. It is a great stepping stone to independent living and we have a support worker who helps all the residents settle in, become more independent and ultimately move on to longer term accommodation. The projects are supported with a dedicated worker across all projects, who holds regular house meetings, and supports clients on site and remotely.

Bath Hostel Supported Living Scheme

A part of our work is with disadvantaged people who need a safe temporary place to stay and we allocate 14 of our hostel rooms in Bath to this area of work and use additional bed spaces when available. We provide supported temporary accommodation for people at a time of need in their lives who find themselves homeless. Low level support is provided with an aim to find more permanent accommodation and allows them to get back on their feet.

The hostel also increases its provision of temporary accommodation from October to February which allows a few month’s respite for people currently sofa-surfing or with short term accommodation problems.

Night Stop/ Day Stop

A lottery funded scheme where we place vulnerable young (16-25yrs) people who find themselves suddenly homeless with host families whilst our support worker helps the young person find longer term solutions. During the day they are able to access support/ guidance via our Day Stop service at our main hostel in Bath.

We can provide emergency accommodation for a young person for a couple of days to a few weeks. The benefit of using the YMCA for young people is that it is safe accommodation with staff on site 24 hours and it allows time for agencies to work towards finding supported lodgings or mediating with the family to allow them to return home.

The Day Stop service is based in Bath to support young people within and outside of our housing projects that need support, guidance and advice – as well as a friendly ear and refreshments, IT access and a space to be during office hours. The housing team in Bath work with other agencies to deliver a holistic support system for the young people accessing this and the Nightstop facilities.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP

For the year ended 31 March 2022

FAMILY WORK & CHILDRENS SERVICES

Preschool education through nursery provision

Our Children’s work continues to evolve and develop. There are currently 8 nurseries and pre-schools operating across Wiltshire. Altogether, there are over 300 nursery places. These are supported by enthusiastic and caring team members.

Our staff are committed to:

We have adopted ‘Family’ an electronic method of assessing the younger children using iPads. Parents can upload their family events and comment and delight in their child’s day at nursery.

Recruitment continues to prove challenging in this area nationally and the government shortfall in NEG funding has resulted in many nurseries, country wide, closing. However, despite these difficulties we have continued to provide high quality care, although have unfortunately had to close our setting in Bath during the year as a result of these pressures.

We have dressed up, dressed down, face painted and spattered and sprayed paint everywhere. We have played chess, scrabble, snakes and ladders, patience and playground games.

Ofsted have inspected all of our nurseries in the last few years and they have all passed with flying colours. As a learning organisation we continue to seek to improve and develop our work and welcome the challenges that inspections bring.

YOUTH AND COMMUNITY SERVICES

Youth Groups

Our work with young people welcomes anyone aged between 10 and 19 years (up to 25 years old with Special Educational Needs); some of these young people can be vulnerable and / or have additional needs. We provide safe environments where every young person’s view is considered.

We ensure continued engagement and participation in planned programmed of positive activities and issue-based work; relevant to the needs and development of individuals and peer groups. All of our activities are designed to develop social and like skills; increase confidence and resilience; and help young people move away from any harmful behaviours.

Our youth club programmes are delivered through non-formal educational activities which combine enjoyment, challenge and learning. These are designed to guide young people to think for themselves, make healthy choices, improve their emotional health and wellbeing, build life skills as well as develop their own individual characters whilst gaining a better understanding of the world they life in.

We are based in Frome, Coleford, Glastonbury Windmill & Redbrick, Shepton Mallet, Street, Milford, Westfield and Wyndham in Yeovil.

Our funding for our Youth work comes from a variety of sources, although as the Youth Investment Fund (YIF) from the National Lottery and Department of Culture, Media & Sport is no longer available and no replacement funding has been put in place, we now fund the majority of work ourselves. We have strong links and some financial support from all of the Town and Parish Councils where our youth work takes place and we endeavour to deliver our services in keeping with needs of young people and their communities.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

HEALTH & WELLBEING

Our Health & Wellbeing centre in Bath offers a fully equipped & spacious gym, alongside a large studio for classes. Membership is available at a fully inclusive monthly rate and also at a day rate. This gives unlimited access to the gym, classes and 1-2-1 support from our professional trainers. Classes are varied but include: HIIT, circuits, indoor cycling, body pump, yoga, Pilates and Zumba. Some classes are available on Zoom.

The centre prides itself on being there for the community and to that end works with our own residents, other charities and offers a free (or donation based) yoga class every week. Membership numbers are currently averaging 650 - 700 members. There has again been an increase in competition with Pure Gym opening a second large facility with walking distance of ourselves and more private studios opening locally.

PUBLIC BENEFIT

The board has considered the general guidance on public benefit issued by the Charity Commission, has taken due regard of that guidance and is satisfied that the charity's activities do provide wider public benefit.

FINANCIAL REVIEW

This financial year ending 31[st] March 2023 has, as anticipated, been a challenging period. We are still feeling the after effects of the Coronavirus Pandemic and are also having to deal with the ongoing consequences of Brexit and the war between Russia & Ukraine. Recruitment remains difficult and increasing inflation rates have led to continual rises in energy and overhead costs.

For the year ended 31[st] March 2023 a surplus for the year after tax and total comprehensive income of £94,174 has been recorded, compared to a surplus of £65,931 in the previous year.

This year has been very much one of consolidation and we have endeavoured to concentrate on improving our existing services as well as trying to maximise the surplus generated by our trading company (Tria Aktiv (UK) Ltd). We have reopened the Bristol Wing as a commercial backpacker’s hostel in March 23 and bookings have been coming in thick and fast. Sadly, we also had to close our day nursery in Bath due to the fall in demand for places locally.

YMCA Brunel Group recognises possible concern relating to its participation in a defined benefit pension scheme. Appropriate action has been taken: The scheme was closed to new members in 2007, and the link to final salary broken in 2011. Additional contributions continue to be made to reduce the deficit. As part of the YMCA federation, the multi-employer pension scheme is run by an independent Trustee board with employer representation through the Principal Employer, National Council of YMCAs. The pension scheme Trustee obtains an actuarial valuation every three years and we have considered the implications to the charity’s finances from the latest available actuarial valuation. We have reviewed the charity’s ability to continue to deliver its charitable objectives by ensuring budgets, forecasts and plans are available and include the impact of deficit repayments. The pension scheme Trustee included the impact of pension scheme deficit repayments in considering going concern status, reserves, and the risks and uncertainties that the charity face noted elsewhere in this Report.

YMCA Brunel Group benefits from the pension scheme Trustee and the Principal Employer seeking suitable specialist profession advice both to manage the scheme and in the continuing effort to explore ways of reducing the overall pension deficit. The notes to the Accounts include an accounting policy and further details in note 26.

Value for Money

Value for Money is integral to our approach to budgeting and business planning. Financial sustainability through the delivery of Value for Money to our stakeholders is central to ensuring that we achieve our mission and all our strategic objectives. We regularly review, report and monitor our outcomes with our stakeholders through various reporting mechanisms as and

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

demonstrated in the activities section of the report.

We include the following metrics specifically designed for social housing:

Principal risks and uncertainties

YMCA Brunel Group has developed a full and thorough policy for risk management for the organisation. The aim of the policy is to identify and assess risks as far as is reasonable, take steps to mitigate those risks wherever possible, and ensure that a suitable plan is in place to review and monitor risks on an ongoing basis.

For each of the following areas a risk assessment has been undertaken, to identify the main areas of risk which could affect the organisation.

YMCA Brunel Group acknowledges that the responsibility for the management and control of the organisation lies with the trustee body. The Board of Management has therefore developed a policy to ensure that each department is equipped with the resources to carry out all the necessary tasks which can then be reviewed by the Board of Management.

A standard procedure to identify and assess risk, evaluate action required and ensure consistent monitoring of the risk has been developed which can be applied to all areas of work.

The main areas of risk identified are:

The trustees understand these risks and feel they are mitigated by the various sources of secure income available to the charity. We have robust systems that monitor daily sales in all areas of our charitable operations. We look at future trends and have an experienced and capable senior staff team who work to a continuous improvement model. We are keeping appraised with the possible changes to Housing Benefit and National and Local Housing funding and have stress tested our budgets to reflect these possibilities and are satisfied that the charitable outcomes in each case can be achieved sustainably.

PLANS FOR THE FUTURE

The Trustees’ plan is to continue to develop our work in line with our strategy.

The focus for 2023/24 will be to ensure that YMCA Brunel Group is fit for purpose and commercially viable as we continue our recovery from the pandemic and the difficult economic environment. This will involve rebuilding the health and wellbeing, nursery and hostel accommodation income streams, while we look to re-tender for the Pathways to Independence project in Mendip & South

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

Somerset and to develop our various housing projects for young people in need. We will also seek to develop more housing projects for vulnerable Adults and to seize opportunities to create communities which will enable positive development.

RESERVES POLICY

Introduction

The Trustees have considered carefully the level of free reserves that should be maintained to safeguard the obligations under our contracts and the needs of all the beneficiaries or users of YMCA Brunel Group.

In any circumstances, the charity must also have sufficient funds available to act as a responsible employer to all staff members.

The charity has diverse and relatively secure income streams across 29 separate locations. We maintain a comprehensive range of insurances including Business Interruption cover of in excess of £5,000,000 over any 24 month period.

It has been agreed that the following factors need to be taken into consideration in fixing the level of reserves.

Bearing in mind the considerations given above, it has been resolved that there should be a target of unallocated free reserves in the range of £300,000 - £350,000.

As at 31[st] March 2023, the total funds held were £3,234,271 of which £233,094 was represented by restricted funds. These funds are predominantly represented by properties that we own, however we do hold £642,835 at bank and in cash as at 31[st] March 2023.

Therefore, although we currently have no free reserves, we do hold enough cash on hand to cover 2 months’ worth of salary costs. This will continue to be monitored by the Trustees on a quarterly basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Company history

YMCA Brunel Group is a charitable company which started as YMCA Mendip, has been active since 1892, and was incorporated on 25[th] February 1999. It is limited by guarantee and governed by a memorandum and articles of association.

YMCA Mendip, as it then was, adopted the new model Governing Documents, recommended by the YMCA Movement, at the AGM held on 17[th] April 2019. These were subsequently accepted by both Companies House and the Charity Commission.

YMCA Mendip was renamed as YMCA Brunel Group when the merger with YMCA Bath Group occurred in 2020.

YMCA Brunel Group is part of the worldwide movement of YMCAs, although it is an autonomous charity, separately funded and locally managed.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2022

Directors and Trustees

The Trustees, who are also Directors for the purposes of company law, are appointed in accordance with the Articles of Association.

New Trustees are elected to serve on the board of management by majority vote of the existing Trustees full members at the Annual General Meeting. New Trustees follow an induction programme in addition to training provided during board meetings and at strategic planning / training days.

A board of management, consisting of the Trustees and the Chief Executive, meets four times a year to administer the charity. There are sub-committees covering human resource, remuneration and audit. Other task and finish groups meet as required. The Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity and in turn is supported by a team of senior staff.

The Trustees of the charity during the year were:

Mr R Caddick Rev. C Hare Mrs M Hare Mr S Harrison Mr D Pendle (Chair) Mr P Rose (Treasurer) Ms K Patel

Arrangements for setting pay and remuneration of key management personnel

The charity’s Trustees and the Senior Management Team comprise the key personnel of the charity, in charge of directing, controlling, running and operating the charity on a day-to-day basis. All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in notes 8 & 27 to the accounts.

The Remuneration Committee, comprising the Chair, Treasurer and Chair of the Human Resource Committee, consider the remuneration of the senior staff. They benchmark similar roles within the YMCA Federation and in other comparable organisations and seek to pay competitive salaries in relation to the scope and impact of each role.

Network and other relationships

The Group is an independent member of the YMCA Federation in England and is affiliated to the National Council of YMCAs. This gives us access to the support and representation provided by YMCA England.

We have been an early adopter of the new National Brand and have benefited from the consistency this brings, both through a better visual identity and programme areas being grouped as Support & Advice, Accommodation, Family Work, Health & Wellbeing and Training & Education, albeit that much of our work overlaps two or more areas.

We benefit from a close working relationship with our neighbouring YMCAs, particularly in the South West.

We are free to set our own operating policies, but seek to share good practice wherever possible.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP

For the year ended 31 March 2022

Risk management

As detailed in the Principal Risks and Uncertainties section of the Financial Review, the Trustees continue to examine the major strategic, business and operational risks which the charity faces and confirm that systems are established to ensure that the necessary steps can be taken to mitigate these risks.

Compliance with Governance and Financial Viability Standard

The Board has reviewed compliance with the standard and confirms that it complies in all material aspects.

STATEMENT OF RESPONSIBILITIES OF THE BOARD

The Trustees (who are also Directors of YMCA Brunel Group for the purposes of company law) are responsible for preparing the Narrative Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Signed on behalf of the trustees

Mr D Pendle Trustee

7 July 2023

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2023

Opinion

We have audited the financial statements of YMCA Brunel Group ('the parent charitable company') and its subsidiary ('the group') for the year ended 31 March 2023 which comprise the consolidated statement of comprehensive income, the charity only statement of comprehensive income, the group and charity balance sheet, the group and charity statement of change in reserves, the group and charity cash flow statements and notes to the financial statements including a summary of significant accounting polices. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and the aparent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the board's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent chariatble company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2023

Our responsibilities and the responsibilities of the board with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2023

In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion:

Responsibilities of the board

As explained more fully in the board’s responsibilities statement set out on page 13, the board is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the board determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the board is responsible for assessing the group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the board either intends to liquidate the group or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: • Enquiry of management and those charged with governance about any known or suspected instances of non compliance with laws and regulations and fraud;

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YMCA BRUNEL GROUP

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2023

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of report

This report is made solely to the parent company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Gare (Senior Statutory Auditor) For and on behalf of Sumer Audit Statutory Auditors Chartered Accountants County Gate County Way Trowbridge BA14 7FJ Date: …...............................11 July 2023

15

YMCA BRUNEL GROUP

STATEMENT OF COMPREHENSIVE INCOME - GROUP For the year ended 31 March 2023

Notes
Turnover
2, 4
Operating expenditure
Operating surplus
Interest receivable and similar income
6
Interest payable and similar charges
Taxation
On behalf of the Board
Date: …...............................
Surplus on ordinary activities for the year before tax
Surplus for the year after tax and total comprehensive
income
D Pendle (Chair)
P Rose (Trustee)
7 July 2023		 2023
£
6,849,941
(6,735,412)		 2022
£
6,259,528
(6,241,967)
114,529
42,819
(63,174)		 17,561
74,180
(25,810)
94,174 65,931
- -
94,174 65,931

16

YMCA BRUNEL GROUP - Charity Only

STATEMENT OF COMPREHENSIVE INCOME - CHARITY For the year ended 31 March 2023

----- Start of picture text -----
Notes 2023 2022
£ £
Turnover 2, 4 6,327,549 5,895,228
Operating expenditure (6,211,918) (5,876,040)
Operating surplus 115,631 19,188
Interest receivable and similar income 6 42,819 74,180
Interest payable and similar charges (61,307) (25,810)
Surplus on ordinary activities for the year before tax
97,143 67,558
Taxation - -
Surplus for the year after tax and total comprehensive
income 97,143 67,558
On behalf of the Board
D Pendle (Chair)
P Rose (Trustee)
----- End of picture text -----

Date: …...............................7 July 2023

17

YMCA BRUNEL GROUP - Company number 03719773

BALANCE SHEET - GROUP As at 31 March 2023

Notes
FIXED ASSETS
Social housing properties
10
Other tangible fixed assets
11
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS: amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: amounts falling due after one year
16
NET ASSETS
RESERVES
Income and expenditure reserve
21
Restricted funds
22
TOTAL RESERVES		 2023
£
2,505,554
4,595,040
332,487
7,433,081
353,439
642,835
996,274
(965,860)
30,414
7,463,495
(4,229,224)
3,234,271
3,001,177
233,094
3,234,271		 2022
£
2,545,146
4,683,970
337,680
7,566,796
198,220
726,127
924,347
(836,578)
87,769
7,654,565
(4,514,468)
3,140,097
2,922,387
217,710
3,140,097

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved and authorised for issue by the Board on …………………………7 July 2023 and signed on their behalf by:

D Pendle (Chair)

P Rose (Trustee)

18

YMCA BRUNEL GROUP - Company number 03719773

BALANCE SHEET - CHARITY As at 31 March 2023

Notes
FIXED ASSETS
Social housing properties
10
Other tangible fixed assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS: amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: amounts falling due after one year
16
NET ASSETS
RESERVES
Income and expenditure reserve
20
Restricted funds
22
TOTAL RESERVES		 2023
£
2,505,554
4,564,291
332,587
7,402,432
358,066
483,075
841,141
(802,447)
38,694
7,441,126
(4,206,855)
3,234,271
3,001,177
233,094
3,234,271		 2022
£
2,545,146
4,646,473
337,780
7,529,399
226,269
638,705
864,974
(774,173)
90,801
7,620,200
(4,483,072)
3,137,128
2,919,418
217,710
3,137,128

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved and authorised for issue by the Board on …………………………7 July 2023 and signed on their behalf by:

D Pendle (Chair)

P Rose (Trustee)

19

YMCA BRUNEL GROUP

STATEMENT OF CHANGE IN RESERVES - GROUP For the year ended 31 March 2023

At 1 April 2021
At 31 March 2023
At 31 March 2022 and 1 April
2022
Surplus / (Deficit) for the year
after transfers
Surplus for the year after
transfers		 Restricted
reserve
£
204,776
12,934
217,710
15,384
233,094		 Unrestricted
Reserve
£
2,869,390
52,997		 Total
£
3,074,166
65,931
2,922,387
78,790		 3,140,097
94,174
3,001,177 3,234,271

20

YMCA BRUNEL GROUP

STATEMENT OF CHANGE IN RESERVES - CHARITY For the year ended 31 March 2023

At 1 April 2021
At 31 March 2023
At 31 March 2022 and 1 April
2022
Surplus for the year after
transfers
Surplus / (Deficit) for the year
after transfers		 Restricted
reserve
£
204,776
12,934
217,710
15,384
233,094		 Unrestricted
Reserve
£
2,864,794
54,624		 Total
£
3,069,570
67,558
2,919,418
81,759		 3,137,128
97,143
3,001,177 3,234,271

21

YMCA BRUNEL GROUP

STATEMENT OF CASH FLOWS - GROUP For the year ended 31 March 2023

Note
Cash flow from operating activities
23
Cash flow from investing activities
Payments to acquire tangible fixed assets
11
Interest payable
Interest received and similar income
6
Net cash used in investing activities
Cash flow from financing activities
Payments towards pension liability
New loans received in the year
Repayment of loan capital
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2023		 2023
£
248,779		 2022
£
517,140
(128,964)
(63,174)
48,011		 (536,347)
(25,810)
46,276
(144,127) (515,881)
(31,764)
-
(156,180)		 (41,323)
425,442
(250,160)
(187,944) 133,959
(83,292)
726,127
642,835		 135,218
590,909
726,127
642,835 590,909

22

YMCA BRUNEL GROUP

STATEMENT OF CASH FLOWS - CHARITY For the year ended 31 March 2023

Note
Cash flow from operating activities
23
Cash flow from investing activities
Payments to acquire tangible fixed assets
12
Interest payable
Interest received and similar income
6
Net cash used in investing activities
Cash flow from financing activities
Payments towards pension liability
New loans received in the year
Repayment of loan capital
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2023		 2023
£
179,754		 2022
£
422,465
(142,925)
(61,307)
48,011		 (527,463)
(25,810)
46,276
(156,221) (506,997)
(31,764)
-
(147,399)		 (41,323)
425,442
(200,160)
(179,163) 183,959
(155,630)
638,705
483,075		 99,427
539,278
638,705
483,075 638,705

23

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

1. ACCOUNTING POLICIES

General information and basis of preparation of financial statements

YMCA Brunel Group is a charitable company and a private registered provider of social housing in the United Kingdom. The address of the Company is given in the reference and administrative details on page 1 of these financial statements and the nature of the Company's operations and principal activities are provided within the Trustees' Report.

YMCA Brunel Group constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102, The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2018 (SORP), and with the Accounting Direction for private registered providers of social housing in England 2015. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008, the Companies Act 2006 and the Charities Act 2011.

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the organisation and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Group financial statements

These group financial statements consolidate the results of the charity and its wholly-owned subsidiary Tria-Aktiv (UK) Limited, both of which make up their financial statements to 31 March. A separate statement of financial activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006.

Tangible fixed assets

Tangible fixed assets (including social housing properties) are stated at cost (or deemed cost). Cost includes costs directly attributable to making the asset capable of operating as intended such as the cost of acquiring land and buildings, developments costs, interest charges on loans during the development period and expenditure on improvements. Expenditure on improvements will only be capitalised when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Assets costing less than £1,000 are not capitalised.

24

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land Not Depreciated Freehold Property Improvements Over 10 years Non-housing freehold buildings Over 50 years Leasehold Property Over the term of the lease Leasehold Property Improvements Over 10 years Equipment Over 3-5 years Fixtures and fittings Over 10 years

Housing properties are divided into the major components and charged depreciation, so as to write-down the cost of each component to its estimated residual value, on a straight line basis, over its estimated useful economic life. The company depreciates the major components of its housing properties at the following annual rates.

Land Not Depreciated Main fabric Over 100 years Roof structure Over 70 years Kitchens Over 20 years Bathrooms Over 30 years Windows and doors Over 25 years Mechanical systems Over 30 years Gas boilers Over 15 years Electrics Over 40 years

Annually, housing properties are assessed for impairment indicators. Where indicators are identified an assessment for impairment is undertaken comparing the property's carrying amount to its recoverable amount. Where the carrying amount of a property is deemed to exceed its recoverable amount, the property is written down to its recoverable amount. The resulting impairment loss is recognised as operating expenditure. Where a property is currently deemed not to be providing service potential to the Company, its recoverable amount is its fair value less costs to sell.

Properties that provide housing are included within Social Housing fixed assets regardless of how they are funded.

Social housing properties transferred are included in fixed assets at fair value with an equivalent amount shown as donated income. Any liability to repay the grant funding if the property is no longer used for social housing is not included on the balance sheet but is shown as a contingent liability.

Investments

Listed investments are held at market value and represent investments held in investment funds that are externally managed. Unrealised gains and losses arising on the revaluation of investments are credited or charged to the Statement of Comprehensive Income. Investments in subsidiaries are measured at cost less impairment.

25

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Financial Instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the charity and their measurement basis are as follows:

Financial assets – trade debtor, accrued income and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in note 14. Prepayments are not financial instruments. Amounts from the charity’s wholly owned subsidiary are held at face value less any impairment.

Cash at bank and in hand – includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. It is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in notes 15 and 16. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Loans and borrowings, are initially recognised at the transaction price including transaction costs and subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Debtors receivable and creditors payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

26

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Leases

Rentals payable and receivable under operating leases are charged on a straight line basis over the period of the lease.

Tax

The Company is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes.

The activities of the Company are partially exempt from VAT. Irrecoverable VAT which can be attributed to a capital item or operating expenditure is added to the cost of the capital item or expenses were practicable and material.

Turnover and other income

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Turnover represents rental income receivable in the year net of losses from voids, revenue grants from the government (local authorities) and Homes England (formerly the Homes and Communities Agency) and other income from trading.

Government grants are received in respect of purchasing fixed assets. These grants are recognised at the fair value of the asset received or receivable. The assets are accounted for using the cost model and the government grant is accounted for using the accruals model. The difference between the fair value of the asset and the consideration is recognised as a liability and amortised over the useful economic life of the asset. This amortisation is recognised within turnover. Where disposal of government donated assets are required to be recycled, a liability is included to recognise this obligation.

Grants received as a contribution to revenue expenditure are recognised in the statement of comprehensive income on a systematic basis over the period in which the organisation recognises the related costs for which the grant is intended to compensate. Grants are recognised in the same period as the related expenditure provided the conditions for receipt have been satisfied and there is reasonable assurance that the grant will be received.

Other income streams are recognised when the Company is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. More detail on specific elements of other income streams are provided below.

For donations to be recognised the Company will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Company and it is probable that they will be fulfilled. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

27

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Donated facilities and donated professional services are recognised as income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity. However it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from the hostel, restaurant, health suite and nursery, together with other income, is included in incoming resources in the period to which the income relates.

Investment income is earned through holding assets for investment purposes such as property. It includes interest and rent. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Interest income is recognised using the effective interest method. Any associated income tax recoverable is recognised at the same time as interest income is receivable.

Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Operating profit

Operating surplus includes all income and expenditure of the organisation, other than interest receivable and investment gains.

Employee benefits

When employees have rendered a service to YMCA Brunel Group, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

YMCA Brunel Group operates defined contribution plans for the benefit of its employees. Contributions are expensed as they become payable.

28

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

YMCA Brunel Group participated in a multi-employer defined benefit pension plan for employees of YMCAs in England, Scotland and Wales, which was closed to new members and accruals on 30 April 2007. Due to insufficient information, the plan's actuary has advised that it is not possible to separately identify the assets and liabilities relating to YMCA Brunel Group.

As described in note 26 YMCA Brunel Group has a contractual obligation to make pension deficit payments of £41,323 pa over the period to April 2029, accordingly this is shown as a liability in these accounts. In addition, YMCA Brunel Group is required to contribute £9,803 pa to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made.

Restricted reserves

Restricted reserves are those reserves which are only expendable in accordance with the wishes of the funder or regulatory body. Restricted reserves include funds raised in response to a specific appeal. Revenue and expenditure cannot be directly set against restricted reserves but is taken through the statement of comprehensive income and then a transfer to restricted reserves is made as appropriate.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Company to be able to continue as a going concern.

Judgements and key sources of estimation uncertainty

The key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities include obligations under defined benefit pension schemes (see note 26) and the split and useful lives of components of social housing and other fixed assets (see notes 10 and 11).

29

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

2. TURNOVER

Grants
Donations and legacies
Pathway to independence (P2i)
income
Adult & Homeless Prevention
Income
Social Housing (see Note 4)
Other turnover (including Gift
Aid donations from the
subsidiary)
Income from trading subsidary
(see Note 3)
Health and wellbeing income
Bristol Wing income
Preschool education		 Group
2023
£
244,051
131,052
1,852,283
43,480
1,058,549
1,837,480
206,605
253,174
774,783
448,484
6,849,941
-		 Charity
2023
£
244,051
131,052
2,168,863
43,480
1,058,549
1,837,480
206,605
253,174
-
384,295
6,327,549
-		 Group
2022
£
373,498
154,717
1,707,370
64,481
1,019,553
1,822,797
241,742
227,021
535,347
113,002
6,259,528		 Charity
2022
£
373,498
154,717
1,707,370
64,481
1,019,553
1,822,797
241,742
227,021
-
284,049
5,895,228

30

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

3. INCOME FROM TRADING SUBSIDIARY

The wholly-owned trading subsidiary, Tria-Aktiv (UK) Limited, company number 02189118, which is incorporated in the United Kingdom, pays all its taxable profits to the charity by Gift Aid. Tria-Aktiv (UK) Limited operates a hostel at Bath YMCA and Bristol YMCA. The charity owns the entire issued share capital of 100 ordinary shares of £1 each. A summary of the trading results as recorded in that company’s statutory accounts (therefore, gross of all intragroup transactions), is shown below:-

2023
£
Turnover and interest receivable
Hostel income
710,611
Catering income
52,002
Room hire
1,062
Functions
-
11,108
Grant income
-
774,783
Interest
-
Profit / (Loss)
Retained profit brought forward
Amount gifted to YMCA Brunel Group
The assets and liabilities of the subsidiary were:
Fixed assets
Current assets
Creditors: amounts falling due within one year
Total assets less net liabilities
Called up shared capital
Reserves
Cost of sales and
administrative expenses
Miscellaneous sales		 2023
£
774,783
(579,364)
195,419
2,971
(198,390)
-
30,749
166,133
(196,782)
100
100
-
100		 2022
£
527,598
-
360
-
855
6,534
535,347
-		 2022
£
535,346
(419,824)
115,522
4,496
(117,047)
2,971
37,497
105,223
(139,649)
3,071
100
2,971
3,071

31

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

4.
SOCIAL HOUSING TURNOVER AND COSTS (GROUP AND CHARITY)
SOCIAL HOUSING LETTINGS
2023
£
Turnover
Rent receivable after voids
1,852,283
Expenditure
Social housing lettings
Management
1,479,007
Maintenance
76,063
Bad debts
28,378
Depreciation of housing properties
39,216
Other costs
180,138
Total social housing lettings
1,802,802
Operating surplus / (deficit) from social housing activities
49,481
Rent losses from voids
229,164
5.
ACCOMODATION OWNED AND IN MANAGEMENT (GROUP & CHARITY)
2023
Property
Units
Supported Housing - owned and managed
41
Supported Housing - managed for others
101
142
6.
INTEREST RECEIVABLE AND SIMILAR INCOME
Group
Charity
Group
2023
2023
2022
£
£
£
Rental Income
45,306
45,306
43,670
2,705
2,705
2,606
48,011
48,011
46,276
(5,192)
(5,192)
27,904
42,819
42,819
74,180
Gains / (losses) on investments
Total investment income
Interest and dividends
receivable		 2022
£
1,707,370
1,434,503
64,962
17,908
39,591
121,428
1,678,392
28,978
249,597
2022
Property
Units
41
101
142
Charity
2022
£
43,670
2,606
46,276
27,904
74,180

32

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

7.
SURPLUS / (DEFICIT) ON ORDINARY ACTIVITIES
Group
Charity
2023
2023
£
£
224,042
216,789
39,592
39,592
-
-
39,871
29,505
Depreciation - other fixed
assets
Deprecation - social housing
properties
Operating lease rentals
Auditors remuneration - audit
fee
The operating (deficit) /
surplus is arrived at after		 Group
2022
£
224,391
39,591
-
37,575		 Charity
2022
£
214,152
39,591
-
27,968

8. BOARD AND KEY MANAGEMENT PERSONNEL REMUNERATION

The key management includes the trustees of YMCA Brunel Group and the senior management team as detailed on page 1.

Total remuneration (including employer national insurance) for key management personnel of the Company and the Group amounted to £420,823 (2022: £387,320).

No remuneration was received by trustees and non-executive board members.

During the year no trustees received reimbursement of expenses (2022: £nil).

9. STAFF NUMBERS AND COSTS

Pension costs
Wages and salaries
Social security costs		 Group
2023
£
3,279,348
234,330
185,627
3,699,305		 Charity
2023
£
3,073,400
210,286
169,042
3,452,728		 Group
2022
£
3,246,827
218,447
177,344
3,642,618		 Charity
2022
£
3,073,400
210,286
169,042
3,452,728

The average weekly number of employees, including members of the management team, calculated on a full time equivalent basis was 135 (2022 : 140).

One employees received remuneration between £80,000 and £90,000 (2022: one employee earned beyween £70,000 and £80,000). No other employees earned over £60,000.

33

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

10.
SOCIAL HOUSING PROPERTIES (CHARITY & GROUP)
Land
£
Cost
At 1 April 2022
225,650
Additions
-
At 31 March 2023
225,650
Depreciation
At 1 April 2022
-
Charge for the year
-
At 31 March 2023
-
Net book value
At 31 March 2023
225,650
At 31 March 2022
225,650		 Property
£
2,415,642
-
2,415,642
96,146
39,592
135,738
2,279,904
2,319,496		 £
Total
£
2,641,292
-
2,641,292
96,146
39,592
135,738
2,505,554
2,545,146

Land leased to third parties for social housing represents freehold land, which has been developed by Bridgwater Young Men's Christian Association, under a 99 year long leasehold arrangement. The property was transferred to YMCA Brunel Group on 1 July 2020 and the long leasehold on the land was revoked. The land has been reflected in the accounts at the cost to YMCA Brunel Group.

11. OTHER TANGIBLE FIXED ASSETS - GROUP

Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Freehold
land &
property
£
3,889,598
42,621
(6,900)
3,925,319
1,210,186
87,708
(6,900)
1,290,994
2,634,325
2,679,412		 Leasehold
land &
property
2,141,892
7,430
-
2,149,322
351,593
60,040
-
411,633
1,737,689
1,790,299		 Plant &
Machinery
£
308,263
46,730
-
354,993
280,862
23,164
-
304,026
50,967
27,401		 Gym
Equipment
£
86,527
22,192
(30,714)
78,005
86,527
7,323
(30,714)
63,136
14,869
-

34

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Office
Equipment
Fixtures &
Fittings
£
Cost
At 1 April 2022
144,995
388,016
Additions
4,191
5,800
Disposals
(8,204)
At 31 March 2023
140,982
393,816
Depreciation
At 1 April 2022
118,840
232,647
Charge for the year
20,040
24,433
On disposals
(8,204)
(6,148)
At 31 March 2023
130,676
250,932
Net book value
At 31 March 2023
10,306
142,884
At 31 March 2022
26,155
155,369
12.
OTHER TANGIBLE FIXED ASSETS - CHARITY
Freehold
land &
property
Leasehold
land &
property
£
Cost
At 1 April 2022
3,889,598
2,100,995
Additions
42,621
7,430
Disposals
(6,900)
-
At 31 March 2023
3,925,319
2,108,425
Depreciation
At 1 April 2022
1,210,186
336,626
Charge for the year
87,708
55,950
On disposals
(6,900)
-
At 31 March 2023
1,290,994
392,576
Net book value
At 31 March 2023
2,634,325
1,715,849
At 31 March 2022
2,679,412
1,764,369		 Motor
Vehicles
£
6,667
-
-
6,667
1,333
1,334
-
2,667
4,000
5,334
Plant &
Machinery
£
239,082
46,730
-
285,812
217,295
19,765
-
237,060
48,752
21,787		 Total
£
6,965,958
128,964
(45,818)
7,049,104
2,281,988
224,042
(51,966)
2,454,064
4,595,040
4,683,970
Gym
Equipment
£
86,527
22,192
(30,714)
78,005
86,527
7,323
(30,714)
63,136
14,869
-

35

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Office
Equipment
Cost
At 1 April 2022
132,395
Additions
3,119
Disposals
(8,204)
At 31 March 2023
127,310
Depreciation
At 1 April 2022
112,193
Charge for the year
16,754
On disposals
(8,204)
At 31 March 2023
120,743
Net book value
At 31 March 2023
6,567
At 31 March 2022
20,202
13.
INVESTMENTS
Group
2023
£
UK quoted unit trusts
284,138
Investment property
48,349
-
332,487
Movements in market value
At 1 April 2022
337,680
(5,193)
At 31 March 2023
332,487
Historical cost
At 1 April 2022 and at 31 March 2023
UK quoted unit trusts
100,000
Leasehold property
18,530
118,530
Other investment (shares in
trading subsidiary)
Net gains / (losses) on
revaluations		 Fixtures &
Fittings
£
279,578
20,833
(14,466)
285,945
124,209
27,955
(6,148)
146,016
139,929
155,369
Charity
2023
£
284,138
48,349
100
332,587
337,780
(5,193)
332,587
100,000
18,530
118,530		 Motor
Vehicles
£
6,667
-
-
6,667
1,333
1,334
-
2,667
4,000
5,334
Group
2022
£
289,331
48,349
-
337,680
309,775
27,905
337,680
100,000
18,530
118,530		 Total
£
6,734,842
142,925
(60,284)
6,817,483
2,088,369
216,789
(51,966)
2,253,192
4,564,291
4,646,473
Charity
2022
£
289,331
48,349
100
337,780
309,875
27,905
337,780
100,000
18,530
118,530

36

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

No change in market value has been reflected for the investment properties. The Trustees consider that retail property value have not increased during that period due to the existence of vacant retail units in Bath & North East Somerset.

14.
DEBTORS
Group
Charity
2023
2023
£
£
Due within one year
Trade debtors
227,594
221,665
Intercompany
-
10,902
125,845
125,499
353,439
358,066
15.
CREDITORS DUE IN ONE YEAR OR LESS
Group
Charity
2023
2023
£
£
Due in one year or less
Bank loans (see note 17)
153,192
143,216
Other loans (see note 18)
67,000
67,000
Trade creditors
136,180
128,939
Credit cards
8,162
6,687
Other taxation and social security
93,909
61,839
Other creditors
51,405
49,325
Accruals and deferred income
398,257
287,686
Deferred capital grant
57,755
57,755
965,860
802,447
16.
CREDITORS DUE AFTER MORE THAN ONE YEAR
Group
Charity
2023
2023
£
£
Due after more than one year
Bank loans (see note 17)
1,305,402
1,283,033
Other loans (see note 18)
-
-
Deferred capital grant
2,768,167
2,768,167
Pension deficit
155,655
155,655
4,229,224
4,206,855
Prepayments and accrued
income		 Group
2022
£
115,708
-
82,512
198,220
Group
2022
£
135,854
110,000
82,402
13,554
72,550
57,619
306,844
57,755
836,578
Group
2022
£
1,413,920
22,000
2,825,921
252,627
4,514,468		 Charity
2022
£
98,064
45,851
82,354
226,269
Charity
2022
£
126,124
110,000
79,435
13,554
55,721
56,698
274,886
57,755
774,173
Charity
2022
£
1,382,524
22,000
2,825,921
252,627
4,483,072

37

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

17. BANK LOANS

Amounts falling due:
In one year or less
Between one and two years
Between two and five years
More than five years		 Group
2023
£
153,192
153,444
900,892
251,066
1,458,594
-		 Charity
2023
£
143,216
143,216
888,751
251,066
1,426,249
-		 Group
2022
£
135,854
136,100
1,012,317
265,503
1,549,774
-		 Charity
2022
£
126,124
126,124
991,602
264,798
1,508,648
-

Financial instruments measured at amortised cost comprise the loan holdings provided by the bank to the charity. The banks loan are repayable in instalments and interest is payable on at 2% p.a. over base rate. Bank borrowings are secured by fixed and floating charge over the assets of the charity. Interest paid on the bank loans during the period was £25,780 (2021: £30,214).

Contained within the group balances is an additional £50,000 coronavirus business continuity loan. This is interest free for the first year and then is charged at 2.5%. The loan is repayable at £887 per month.

18. OTHER LOANS

OTHER LOANS
In one year or less
Between one and two years		 Group
2023
£
67,000
-
67,000		 Charity
2023
£
67,000
-
67,000		 Group
2022
£
110,000
22,000
132,000		 Charity
2022
£
110,000
22,000
132,000

The other loans are with Mendip District Council, it is interest free and repayable at £5,000 per month.

19. OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Not later than one year
Later than one and not later than five years
Later than five years		 2023
£
356,138
301,354
2,852,879
3,510,371		 2022
£
332,560
316,354
2,924,781
3,573,695

38

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

20. INCOME AND EXPENDITURE RESERVE - CHARITY

This represents cumulative surplus and deficits net of other adjustments.

Income and Expenditure

At 1 April 2022
Total income (turnover and bank interest)
Total expenditure (operating expenditure and interest payable)
Transfers (to) / from restricted reserve
Reserves Carried forward		 2023
£
2,919,418
6,370,368
(6,273,225)
(15,384)
3,001,177		 2022
£
2,864,794
5,969,408
(5,901,850)
(12,934)
2,919,418

21. INCOME AND EXPENDITURE RESERVE - GROUP

This represents cumulative surplus and deficits net of other adjustments.

Income and Expenditure

At 1 April 2021
Total income (turnover and bank interest)
Total expenditure (operating expenditure and interest payable)
Transfers (to) / from restricted reserve
Reserves Carried forward		 2023
£
2,922,387
6,892,760
(6,798,586)
(15,384)
3,001,177		 2022
£
2,869,390
6,333,708
(6,267,777)
(12,934)
2,922,387

22. RESTRICTED RESERVES (CHARITY & GROUP)

Revenue and expenditure cannot be directly set against restricted reserves but is taken through the statement of comprehensive income and then a transfer to restricted reserves is made as appropriate. Details of any restricted income received and spent in the year and unspent at the year end are provided below:

There were restricted funds of £233,094 to carry forward at the year end date. Details of restricted monies received and spent in the year are as follows:

Year ended 31 March 2023

Routes Frome
Zaiger Trust
Dawe Trust Grant
The Malmesbury Fund
Other grants and projects		 At 31
March
2022
£
36,424
32,085
17,739
91,105
40,357
217,710		 Income
£
48
-
10,576
-
24,710
35,334		 Expend-
iture
£
-
(4,914)
(11,761)
-
(3,275)
(19,950)		 At 31 March
2023
£
36,472
27,171
16,554
91,105
61,792
233,094

39

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

Year ended 31 March 2022

Routes Frome
Zaiger Trust
Y&C Garfield Weston
Dawe Trust Grant
The Malmesbury Fund
Other grants and projects		 At 31
March
2021
£
36,376
28,788
-
8,678
91,105
39,829
204,776		 Income
£
48
7,000
-
32,408
-
7,810
47,266		 Expend-
iture
£
-
(3,703)
-
(23,347)
-
(7,282)
(34,332)		 At 31 March
2022
£
-
36,424
32,085
-
17,739
91,105
40,357
217,710

Restricted reserve descriptions

Routes Frome

The Routes fund is monies received to fund the shortfall for the Routes drop in centre at Frome Foyer

Zaiger Trust

An ongoing fund for resident activities in South Somerset.

Dawe Trust Grant

Dawe Trust Grants are payments made on behalf of residents to assist with setting up their Move On accommodation.

The Malmsbury Fund

The Malmesbury Fund represents the monies received from National Council of YMCAs for which YMCA Bath Group now acts as Trustee. It is governed by agreements dated 1921 and 1926 stating that the funds should be applied for the benefit of the residents of Malmesbury. The Fund was established following the sale of a YMCA property in the town and it is envisaged that the monies will be used to establish a new piece of YMCA work.

Other grants and projects

Other restricted grants and projects included a number of small grants and donations, individually controlled and accounted for by the Trustees, in respect of a number of youth work and accommodation projects.

40

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

23. RECONCILIATION OF OPERATING (DEFICIT) / SURPLUS TO CASH FLOW FROM OPERATING ACTIVITIES

Operating surplus
Depreciation charges
Amortised capital grants
Investment loss / (gains)
Revaluation of pension liability
Loss on disposal of fixed assets
Interest receivable and similar
income
Interest payable and similar
charges
Decrease / (increase) in debtors
Increase / (decrease) in
creditors		 Group
2023
£
94,174
263,634
(57,754)
(6,148)
(48,011)
5,193
63,174
(74,771)
(155,219)
164,507
248,779		 Charity
2023
£
97,143
256,381
(57,754)
8,318
(48,011)
5,193
61,307
(74,771)
(131,797)
63,745
179,754		 Group
2022
£
65,931
263,982
(64,231)
2,042
(46,276)
(27,904)
25,810
91,302
66,851
139,633
517,140		 Charity
2022
£
67,558
253,743
(64,231)
-
(46,276)
(27,904)
25,810
91,302
-
69,138
369,140

24. ANALYSIS OF NET CHANGES IN DEBT - GROUP

Loans due in less than 1 year
Loans due in more that 1 year
Total Liabilities
Cash
Total net debt		 At 31 March
2022
£
(245,854)
(1,435,922)
(1,681,776)
726,127
(955,649)		 Cashflow
£
25,662
130,520
156,182
(83,292)
72,890		 At 31 March
2023
£
(220,192)
(1,305,402)
(1,525,594)
642,835
(882,759)

25. ANALYSIS OF NET CHANGES IN DEBT - CHARITY

Loans due in less than 1 year
Loans due in more that 1 year
Total Liabilities
Cash
Total net debt		 At 31 March
2022
£
(236,124)
(1,404,525)
(1,640,649)
638,705
(1,001,944)		 Cashflow
£
25,908
121,492
147,400
(155,630)
(8,230)		 At 31 March
2023
£
(210,216)
(1,283,033)
(1,493,249)
483,075
(1,010,174)

41

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

26. PENSION COMMITMENTS

Defined Benefit Pension Scheme

YMCA Brunel Group participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of YMCA Brunel Group and at the year end these were invested in the Mercer Dynamic De-risking Solution, 62% matching portfolio and 38% in the growth portfolio and Schroder (property units only).

The most recent completed three year valuation was as at 1 May 2020. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets held before and after retirement of 2.59% and 1.09% respectively, the increase in pensions in payment of 2.99% (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 22.0 years, female 24.4 years, and 23.7 years for a male pensioner, female 26.1 years, retiring in 20 years’ time. The result of the valuation showed that the actuarial value of the assets was £146.1m, which represented 79% of the benefits that had accrued to members.

The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits all employed deferred members became deferred members as from 1 May 2011.

The valuation prepared as at 1 May 2020 showed that the YMCA Pension Plan had a deficit of £39 million. YMCA Brunel Group has been advised that it will need to make monthly contributions of £2,573 from 1 May 2023. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. Agreed future deficit contributions have been discounted using a rate of 3% (2022: 3%). The current recovery period is 6 years commencing 1st May 2023.

In addition, YMCA Brunel Group may have over time liabilities in the event of the nonpayment by other participating YMCAs of their share of the YMCA Pension Plan’s deficit. It is not possible currently to quantify the potential amount that YMCA Brunel Group may be called upon to pay in the future.

Amounts recognised in the Balance Sheet are as follows:
Pension deficit due in less than 1 year
Pension deficit due in 1 to 2 years
Pension deficit due in 2 to 5 years
Pension deficit due after 5 years
Deficit		 2023
£
31,760
30,807
92,421
32,426
187,414		 2022
£
41,323
41,323
123,969
87,334
293,949

42

YMCA BRUNEL GROUP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

27. RELATED PARTY TRANSACTIONS

During the year, the charity paid for air conditioning maintenance totalling £1,675 (2022: £1,675), from a company controlled by a close family member of Maggie King, a member of key management personnel.

28. HOMES ENGLAND CONTINGENCIES

The Charity has contingent liabilities of £372,895, £250,150 and £1,795,400 to the Homes & Communities Agency in respect of the Social Housing Grants obtained originally from YMCA England for the Frome Foyer, Harris House and Street Foyer buildings respectively. These liabilities remain with the buildings for as long at they are used for social housing by a Registered Provider and are therefore not expected to become payable.

29. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the charitable company.

43