Yn¢A YMCA BRUNEL GROUP & SUBSIDIARY (FORMERLY MENDIP YOUNG MEN'S CHRISTIAN ASSOCIATION) (Regulator of Social Housing registration: 4871 Company Number: 03719773 Registered Charity Nurnber: 1074660) REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
YMCA BRUNEL GROUP REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 CONTENTS Page Reference and admlnlstratlve detalls Trustees, report 2-12 Independent auditors, report 13-16 statement of comprehensive income - Group 17 Statement of comprehensFve income - Charlty 18 Balance sheet - Group 19 Balance sheet - Charlty 20 statement of change In reserves - Group 21 ststement of change in reserves - Charlty 22 ststement of cash flows - Group 23 Statement of cash flows - Charity 24 Notes to the financial statements 25
YMCA BRUNEL GROUP REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 March 2024 REFERENCE AND ADMINISTRATniE DETAILS Trustees Mr R Caddlck Rev. C Hare - Resigned 15101124 Mrs M Hare - Resigned 15101124 Mr S Harrlson Mr D Pendle (Chair) Mr P Rose (Treasurer) Ms K Patel Mr R Tldswell - appointed 26104123 Mr A Cook - appointed 04105123 Secretary Mr M Fairbeard Chlef Executlve Mr M Fairbeard Senior Management Team Mr M Fairt)eard Ch ief Executlve Ms J Honeywell Dlrector, Chlldren's Services Ms P Fairbeard Director, Strategy & Communications Nr D Bowler General Manager, The Bristol Wlng Mr M WilcDX Director, Youth & Community Ms S Montagne Head of People Management Mr J Marshall D1ctOr, Finance Ms M King Director, Housing Bath Ms M Bulman Head of Supported Houslng Somerset Registered Company Number 3719773 Registered Charity Number 1074660 Regulator of Social Houslng Number 4871 Registered Office Internatlonal House Broad Street Place Bath BAI 5LH Auditors Sumer Audltco Limited, Fortescue House, Court street, Trowbridge, BA14 8FA Solicitor5 Tozers Solicitors LLP, Broadwalk House, Southemhay West, Exeter EXI IUA Bankers Natlonal Westmlnster Bank, 24-25 stall Street, Bath BAI IQF
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 The Trustee5 are pleased to present the financial statements for the year ended 31 March 2024 and confirm that they comply with United Kingdom Generally Accepted Accounting Practice (UK GAAP), Includlng 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 tho Brltlsh Young Men's Christian Association Assembly held In Blrmlngham 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 Saviou r accord ing to the Holy Scriptures, desire to be His Disciples in their faith and in their life, and to associate thelr eFforts for the extenslon of HIS Klngdom. Any dlfference of oplnlon on other subjects, however Important In themselves, shall not Interfere wlth the harmonious relatlons of the Associations of the Young Men's Christian Association Movement in England, Ireland and Wales" Accordlngly the objects of the assoclation are,. (a) To unite those who, regarding Jesus Christ 05 their God and Saviour according to the Holy Scrlptures, deslre to be HIS dlsclples In their faith and In thelr Ilfe, and to assoclate their efforts for the extenslon Df hls Klngdom. (b) To lead young people to the Lord Je5U5 Chrlst and to fullne55 of life in Him. Cc) To provide or assist in the provision in the interests of social welfare of facilities for recreation and other leisure time occupation for men and women with the object of improving thelr condltlons of life. (d) To provide or asslst in the provision of education for persons of all ages with the object of developing their physical, mental or spiritual capacities. (e) To relleve or assist In the rellef of persons of all ages who are in condltlons of need, hardship or distress by rea50n of their social, physical or economic circumstances. (f) To provide resldential accommodatlon for persons of all ages who are in need, hardship or dlstress by reason of their social, physica l or economic circumstances. In shaping the objectives for the year and planning activities the Trustees have considered the Charity Commissions guldance on public beneflt. 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 hlgh-quallty programmes that support and develop thÈm in mind, body and spirit. YMCA Brunel Group seeks to achieve this, both within the charity work and through its subsidiary tradlng company Trla-Aktlv (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 an accommodation, low cost childcare, and youth and community clubs and projects. This is all achieved withi n a Christian ethos where ou r values and Integrlty are central to the work and meet the objects stated
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 above (a, b, c, d, e and 0. The Trustees confirm that they have due regard to the Charlty Commlsslon's general guidance on Public Benefit, 'Charitles and Public Jeneflt,. Vlslon: We bulld strong communities where everybody can belong, contribute and thrlve. Values: Incluslon We recognlse that every person is different but equally valuable. We actlvely Include people at every level of our organisation, ensuring that Dur setvice users, young people, staff, trustees, volunteers and customers a representative of the communltles that we Serve. We work hard to enable each person to realise their potentla l. Compassion Our work is focussed on connecting with people, and responding to them in a caring ènd compassionate way. Communlty We belleve that we are deslgned to Ilve alongside other people. OLJr wcirk actlvely creates opportunitie5 for the people who are part of the YMCA (our young people, servlce users, staff, volunteers, customer5 etc) to be part of a communlty. Humility We are here to serve the needs Df the communities In which we work. We dont 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 mlstakes - we learn from them and are honest and open about It. Creatlvlty and Xnnovatlon 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. Sustalnability We think about the future, viorklng In ways that bring about long-term benefit to our communlties and our planet. OUR AcrIvrriES YMCA Brunel Group provldes a range of Services for people and communities in response to their needs, with the emphasis on supporteé housing and homelessness, youth and communities, ch ildren's services and nurseries and health & wellbeing. MEASURES USED TO ASSESS OUTCOMES AND SUCCESS The charity seeks to measure outcomes and success In all asperts of its work. The approach is tailored to the speciffic attivity but incl udes the number of participants, approval ratlng (hostel), move-on data (supported housing), Family outcome tracking (Childcare), member journey sothare (health & viellbeing) in addition to reporting budgetary and financlal outcomes.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 We seek to collect stories from Indlvidua15 who have been positlvely affected by our work and respond promptly and revlew learning when there are complaints or negative experiences. SAFEGUARDING STATEMENT 'The YMCA'S vlslon Is of an incluslve Chrlstian movement, transformlng communltles so that all young people truly belongi contribute and thrive. YMCA Brunel Group aims to create and maintain a safe and secure environment for all staff, trustees, volunteers, resldents ènd visitors to our facillt]es. In particular the Association Is Fully commltted to safeguardlng all chlldren, young people and vulnerable adults that come into contact with our work. We belleve that all children, young people and vulnerable adults have an absolute right to protection from abuse, regardless of their age, race, rellgion, abllltyi gender, language, background or sexual identity and consider their welfare 15 paramount. We will: Take every reasonable step to ensure that chlldren, young people and vulnerable adults are protected where our staff, trustees, vol unteers and all associates are involved In the dellvery of our work. Enable ?11 our staff and those who work with us to make informed and confident risk-based decisions regardlng safeguarding. Respond appropriately to any allegation, report or suspiclon of abuse. INFORMATION OF FUNDRAISING PRACTICES YMCA Brunel Group generates most of its funds through contracts, subscriptionst grants and donatlons, plus the Commercial activities of it's trading subsidiary. We employ a part time Events and Fundralsing Manager to help raise awareness of our work, manage events and coordinate all fund raising initiative5 suth a5 applications for gr4nts, trusts or funds. As YMCA Brunel Group does not currently run any fLJndralsn9 campaigns, other than accepting donations, we do not currently subscribe to any funéralsing regulation schemes. YMCA Bru nel Group has not received any complaints about its fundraising activities, and other than via it's webslte, does not actively pursue funds from the general public. EPO and the Current Challen In External Envlronment On 1st April 2020, YMCA Mendlp and YMCA Bath Group merged to form a new entlty - YMCA Brunel Group. Currently, the economic and polltlcal envlronment In whlch we operate Is turbulent. The UK is faclng ongolng fi nanclal challenges arlslng from the Brexlt transltion, the war betvieen Russla and Ukraine and political changes happening across the world. These factor5 have contributed to rlsing overhead and salary costs, which are expected to continue increasing for the foreseeable future. Addltlonal ly, the labour market Is stretched, making it increasingly difficult to fill vacancies, especially in our Houslng and Childcare projects, however more recently we have witnessed some improvements in recrultment and are Investlng In staff retentlon schemes to help keep them.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 3 1 March 2024 OUR ACTIVITIES The attlvltles of YMCA Brunel Group can be broken down Into 4 core areas: Houslng & Support, Chlldren's Servlces, Youth and Community Services and Health and Wellbeing Servlces. HOUSING AND SUPPORT SERVICES 16 - 25 year olds We currently house and support 95 clients at any one tlme, across South and East Somerset, aged 16 - 25 years. This is part of the Thrlve 16+ contract, commlssioned by Somerset Council, and has been implemented since April 2024. Prevlous to this we operated the Pathways to Independence Servlce for the Councll and we took part in the recom missioni ng of the service durlng 2D23, In which we were successful. We provide high-quality support to all young people in our projerts, ensuring they are always at the centre of our efforts. Each Indlvldual is treated with respect and given a unique, personalised plan through the Thrive 16+ programme. Our support includes guldance, advocacy, actlvltles, and life skills trainlng. We have a high SucsS rate in helping client5 transition i nto educatlon, tralnlngi employment, and ultimately Independent Ilvlng. Adult and Homeless Services We provlde a supported housing project for adults with complex needs with a home and support to develop Ilfe skllls, access Specialist support and prepare to move on to independent Ilvlng. The 5UPPOrt we offer is parily funded by Somerset Council. The Tenancy Accreditation Scheme also assists with setting up and maintainlng a tenancy and include5 a modular life ski115 programme to help reduce repeat homelessne55. Our Deposlt Scheme 15 administered on behalf of the Councll and provides deposits to landlords for anyone aged 18+ who is in receipt of beneflts or on a low Income. Platform 4 Life As part of our work wlth vulnerable young people we worl(ed with B&NES council to secure funding to Implement thls project. We have 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 ultlmately move on to longer term accommodation. The projects are supported with a dedlcated worker across all projects, who hold5 regu lar house meetlngs, and supports client5 on site and remotely. Bath Hostel Supported Livlng Scheme A significant part of ou r work involves supporting disadvantaged indivlduals In need of a safe, temporary place to stay. We allocate approxlmately14 hostel rooms in Bath specifically for this purpose and utilise additlonal bed spaS when available. Our goal is to provide supported temporary accommodatlon for those facing homelessne55, offering low-level support armed at helping them secure more permanent housing and regain stability in thelr lives. Support Is on han to help these people back into independent livlng. Night Stop/ Day Stop Dur lottery-funded scheme supports vulnerable young people {18-25 year5 old) who suddenly find themselves homeless by placing them wlth host families. Meanwhile, our support worker assist5 them In flndlng lon9-term housing solutlons. During the dayi these young people can access 5UPPOrt and guidance through our Day Stop service at our main hostel In Bèth. We provide emergency accommodation for durations ranging from a couple of days to a few weeks. The YMCA offers a safe environment wlth staff avallable 24 hours a dayf giving agencies tlme to secure supported lodglngs or mediate wlth famllles to facilitate a retum home. The Day Stop service In Bath offers SUPPOrt, guidance, and advice to young people both within and outside our housing project5. It provides a friendly ear, refreshments, IT acce55, and a Safe Space during office hours. Our housing team in Bath collaborates wlth other agencies to deliver a holistlc support system for the young people uslng our services, including Nightstop.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 FAMXLY WORK & CHILDRENS SERVICES Preschool educatlon through nursery provision Our children's program5 contlnue tci evolve and thrSve, with eight nurseries and preschools operating across Wiltshlre, offerlng over 300 places. These faclllties are supported by a team of enthusiastic and caring staff members dedicated to providing high-quality care. Our staff are committed to: Recognislng each child as unique and planning for their individual interests and developmental stages. Providing stimulating, safe, and innovative envlronments both indoors and outdoors. Offeri ng quality care that meets the diverse needs of children and their families. Developing trusting and sUPPOrtive partnerships between home and the nursery, Encouraging social and emotional developtnent as a foundation for life. We have adopted 'Family,' an electronlc method of assessing younger chlldren uslng IPads. Thls allow5 parents to upload famlly events, comment on, and enjoy their child's day at nursery. Recruitment remains a national challenge, however the improvements to government funding are having a positive impact and have allowed us to review salaries. We are optimistic about the futu re of our chlldcare servlces and hope to develop them further over coming years. YOUTH AND COMMUNrrY 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); sotlle of these your)g people can be vulnerable and / or have aédltlonal needs. We provlde safe environments where every young person's view is considered. We ensure continued engagement and partlclpatlon In planned programmed of posltive actlvltles and issue-based work; relevanL to the need5 and development of individuals and peer groups. All of our actlvlties are designed to develop SDcial and life skills; increase confidence. and resilience; and help young people move away from any harmful behavlours. Our youth club programmes are delivered through non-formal educational activities which combine enjoyment, challenge and learning. These are desigr)ed to guide young people to think for themselves, make healthy choices, i mprove their emotlonal health and wellbeing, build life skllls as well as develop their own indivldual characters whllst galning a better understhndlng of the world they life in. We are based in Frome, Coleford, Glastonbury Wlndmlll & Redbrfck, Shepton Mallet, street, Mllford, Westfield and Wyndharn In Yeovll. More recently we have been approached about additional clubs In the Mendip area. Somer5et Council pay for us to deliver specific youth clubs for young carers. Whilst we operate from a varlety of physical locations, we also deliver detached youth work targeting harder to reach young people. Our funding for our Youth work comes from a varlety of sources, We are currently undertaklng some major work at our main youth centre in Frome as a result of YIF capital funding. We have strong Ilnks and some financial support from all of the Town and Parish Councils where our youth work takes place and we endeavour to dellver our servlces In keeping wlth needs of young people and thelr communities.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 HEALTH & WELLBEING Our Health & Wellbelng centre In Bath offers a fully equlpped & spaclous gym, alongslde a large studlo for classes, We also aCsS a second studlo space called the Dojo that is local (5 minutes) from our main site, for some of our yoga classes as It offers a quieter setting. Membership is avallable at a fully Incluslve month ly rate and also at a day rate. This gives unllmlted access to the gym, classes and 1-2- 1 support from our professional trainers. Classes are varled but Include.. HIIT, circuits, indoor cyclingi body pump, yoga, Pirates and Zumba. Some classes are available on- line. The centre prides Itself on belng the for the communlty and to that end works wlth our own residents, other charities and offers two free (or donation based) yoga classes every week. Membershlp number5 are currently averaglng 700 750 members. There has again been an increase in competition with Pure Gym opening a Second large faclllty vwith in walking distance of ourselves and more private studios opening locally. In the last year we have also stsrted to deliver level 2 Gym Instructor teacher trainlng courses that are provlng popular. PUBLIC BENEFIT The board has considered the general guidance on publlc benefit Issued by the Charity Commission, ha5 taken due regard of that gu Idance and is satlsfled that the charity's activities do provide wider publlc benefit. FINANCIAL REVIEW This financlal year ending 31st March 2024 has, as anticipated, been a challenging period. We are still feeling the after effects of the Comnavirus Pandemlc and are also havlng to deal with the ongoing consequences of Brexit and the war between Russla & Ukraine. Recruitment remains difficult and increasing inflatlon rates have led to contlnual rises in energy and overhead costs. For the year ended 315t March 2024 a surplus for the year after tax and total comprehensive income of £246,092 has been recorded, compared to a surplus of £97,143 in the previous year, This year has been very much one of con501idation and we have endeavoured to concentrate on improving our existing services as well as trying to maximise the surplus generdted by our trading company (Tria Aktiv (UK) Ltd). We have reopened the Brlstol Wing as a commercial backpacker's hostel in March 23 and booklngs have been coming in thlck and fast. YMCA Brunel Group recognise5 possible concern relatlng to its partlclpation in a deflned benefit pension scheme. Appropriate actlon has been taken,. The scheme was closed to new members in 2007, and the link to final salary broken in 2011. Additional contributions continue lo be made to reduce the deficlt. As part of the YMCA federation, the multi-employer pension schemels run by an Independent Trustee board with employer representation through the Principal Employer, Nationol Council of YMCAS. The penslon scheme Trustee obtalns an actuarial valuation every three years and we have tDnsidered the Impllcations to the charity's flnance5 from the latest available actuarlal valuatlon. We have revlewed the charity's ability to continue to deliver its charltable objectives by ensurlng budget5, forecast5 and plans are available and include the impact of deflclt repayments. We have induded the Impact of pension scheme deflclt repayments In considering going concern status, reserves, a nd the rlsks and uncertainties that the charity face noted elsewhere In this Report. YMCA Brunel Group benefits from the penslon scheme Tmstee and the Principal Employer seeking suitable specialist profession advi both to manage the Scheme and in the continuing effort to explore ways of reduclng the overall penslon deflclt. The note5 to the Accounts Include an accountlng pollcy and further detalls In note 26.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 3 1 March 2024 Value for Money Value for Money Is Integral to our approach to budgeting and buslness plannlng. Financlal Sustainability through the delivery of Value for Money to our stakeholders is central to ensurlng that we achieve our mission and all our strateglc objectlve5. We regularly review, report and monitor our outcomes wlth our stakeholders through various reporting mechanisms and as demonstrated In the actlvltles section of the report. We include the following metrics specifically designed for Social housing., Relnvestment: OW New supply (Social Housing units): 00/0 New su pply (Non-social housing units): Ovo Gearing.. 8.7% EBITDA MRI Interest Cover.. 581010 Headllne Soclal Houslng Cost: £13,036 Operating Margin (social housing letti ngs): _1.41 % Operating Margin (overall).. 3.090/0 Return On Capital Employed: 3.310/0 Principal risks and uncertainties YNCA Brunel Group has developed a full and thorough policy for risk management for the organisation. The a im of the pollcy is tci identify and assess risks as far as is reasonable, take steps to mitigate those risks wherever possible, and ensure that a sultable plan Is In place to review and monitor risks on an ongoing bas15. For each of the followlng areas a risk assessment has been undertaken, to identify the main areas of risk whlch could affect the organisation. Governance Operatlons Finances Environmental or extemal factors (such as publlc oplnlon or relatlonship with funders) The charity's compliance with law or regulation YMCA Brunel Group acknowledges that the responslbllll'y for the management and control of the organisation Iles wlth the trustee body. The Board of Management has therefore developed a pollcy to ensure that each department Is equipped with the resource5 to carry out 411 the necessary tasks which can then be reviewed by the Board of Management. A standard procedure to identify and assess risk, evaluate actlon requlred and ensure conslstent monitoring of the risk has been developed which can be applied to all areas of work, The maln areas of risk identified are.. Significant reduction in Income from contractsl funders Major damage to reputation through Serious error in an area of work Change in fu nding* e.g. Housl ng Beneflt or Local Authorlty Contracts, causing reductlon In income 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 charltable operations. We look at future trends and have an experlenced and capable senlor staff team who work to a contlnuous Improvement model. We are keeping appralsed wlth the possible changes to Housing Benefit and National and Local Housing funding a nd have stress tested our budgets to reflect these possibilities and are satisfled that the charitable outcomes In each case can be achleved sustalnably.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 PLANS FOR THE FUTURE The Trustees, plan is to contlnue developlng our work In Ilne wlth our strateglc goals. For 2024/25, our focus wlll be to ensure that YMCA Brunel Group 15 frt for purpose and commercially viable as we navigate the current economlc and political envlronment. Thls indudes: Embed the Thrive 16+ project and deliver fully against the commissioned agreement. Develop additional housing projects for vu Inerable adults. Invest in and grow our health & wellbelng project. Develop and Invest In our children's servlces, Expand our youth work across more communities and celebrate the reopening of our Frome youth and community centre in early In 2025. Investlng In our commerclal hostels to surpass customer expectatlons and build ratings, custom 3nd Income. Invest In all our staff through professional development opportunities and robust su pport Systems. Invest In our central services to ensu we have the right staff in the rlght jobs as we plan our future. Conduct a comprehensive review of our strategic plan over thè coming 12 months, involving trustees and staff in the process. Through networking, partnershlps, and strategic plannlngi we aim to grow ou r role In the communlties we sewe, ensuring that we continue to meet the evolving needs of those we support. By investing in our staff and infrastrutture, we are committed to bulldlng a reslllent and sustainable future for YMCA Brunel Group RESERVES POLICY Introduction The Trustees have considered carefully the level of free reserves that should be ma intained to safeg uard 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 5tream5 across 29 separate locations. We malntai n a comprehenslve range of Insurance5 including Bu5ine55 Interruption cover of In excess or £5,000,000 over any 24-month period, It has been agreed that the followlng factors need to be ta ken into conslderation in fixing the level of reserves. The costs of completing any outstanding contracts. Any liabilities under property or other leases, or extended credit agreements. Any responsibilities for maintenance under property lease5. Sufflclent funds avallable for Trustees to be able to take advantage of changes or opportunltles that may arise, Cash-ftowlsurplus generated, or forecast from YMCA Brunel Group's on-going operation. The majorlty of our assets are in either freehold or leasehold buildings, but some could potentlally be sold if requlred. We have a good relationship with our bank and would expect a fijrther borrowlng facility to be available if reqLJired Bearing In mlnd the con5ideration5 given above, it has been resolved that there should be a target of unallocated free reserve5 in the range of £300,000 - £350,000. As at 31$t March 2024, the total funds held were £3,480,363 of which £247,631 wag represented by restrlcted funds. These funds are wholly represented by properties that we own, however we do hold El,239,561 at bank and in cash as at 3151 March 2024.
YMCA BRUNEL GROUP TRUSTEES. REPORT For the year ended 31 March 2024 Therefore, although we currently have no free reserves, we do hold enough cash on hand to cover 2 months, worth of salary costs. This wlll contlnue to be monltored by the Trustees on a quarterly basis. STRucfuRE, GOVERNANCE AND MANAGEMENT Company history YMCA Brunel Group Is a charltable company which started as YMCA Mendipy has been active since 1892, and was incorporated on 25th February 1999. It Is Ilmlted by guarantee and governed by a memorandum and articles of a550Ciatlon. YNCA Mendlp, as It then was, adopted the new model Goveming Documents, recommended by the YMCA Movement, at the AGM held on 17th April 2019. These were subsequently accepted by both Companies House and the Charity Commisslon. YMCA Nendip 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 local ly managed. Dlrertors and Trustees The Trustees, who are also Dlrectors for the purposes of company law, are appolnted 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 trai ning provided durlng board meetlngs and at strateglc plannlng / tra ining days. A board of management, consistlng of the Trustees and the Chief Executive, meets four I'lmes a year to administer the charity. There are sub-commlttees covering human resource, remuneratlon and aLJdit. other task and Fin ish groups meet as requi red. The Chief Executive is appoi nted 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 Trvstee5 of the charity during the year were.. Mr R Caddick Rev. C Hare - Resigned 15101124 Mrs M Hare - Resigned 15101124 Mr S 14a rrison Mr D Pendle (Chair) Mr P Rose (Treasurer) Ms K Patel Mr R Tidswell appointed 26104/23 Mr A Cook - appointed 04105123 io
YMCA BRUNEL GROUP TRUSTEES, REPORT For the year ended 31 March 2024 Arrangements for settlng pay and remuneratlon of key management personnel The charlty's Trustees and the Senior Management Team comprise the key personnel of the charityi i n charge of dlrecting i contmlllngi running and operating the charity On a day-to-day basls. All Trustees give their time freely and no Trustee recelved remuneratlon in the year. Details of Trustees, expenses and related party transactions are dlsclosed In notes 8 & 27 to the account5. The Remuneration Commlttee, compri51ng the Chair, Treasurer and Chalr of the Human Resource Committee, consider the remuneration of the senior staff. They benchmark slmllar roles wlthln the YMCA Federatlon and In other comparable organisations and sÈek to pay competltlve salaries in relation to the scope and Impact of each role. Network and other relationships The Group Is an Independent member of the YMCA Federatlon in England and is afflllated to the National Councll of YMCAS. This gives u5 acce55 to the support and representation provlded by YMCA England. We were an early adopter of the new Natlonal Brand and have benefited from the consistency this brings, both through a better visual Identlty and programme areas being grouped as Supporl & Advlce, Accommodation, Family Work, Health & Wellbeing and Trainlng & Education, albelt that much of our work overlaps two or more areas. We benefit from a close worklng relatlonshlp wlth our neighbouring YMCAS, particularly In the South West. We are free to set our own operating pollcles, but seek to share good practice wherever possible. Risk management As detailed in the Principal Risks and Uncertainties section of the Financial RevSew, the Trustees continLJe to examine the major strategic, business and operatlonal r15ks vihich the charity faces and conflrm that systems are establlshed to ensure that the necessary step5 can be taken to mitigate these rlsks. Compliance wlth Governance and Flnancial Viability Standard The Board has reviewed compliance wlth the standard and confirms that it complies in all material aspects. li
YMCA BRUNEL GROUP TRUSTEES, REPORT For the year ended 31 March 2024 STATEMENT OF RESPONSIBILITIES OF THE BOARD The Trustees (who are also Director5 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 appllcable law and Llnited Kingdom Accounting Standards, includlng Financial Reportlng Standard 102., The Financial Reporting Standard applicable In the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice). Company law requ Ires the Trustees to prepa re flnancla I statements for Éach flnancial year which glve a true and fair view of the state of affairs of the charltable company and of the Income and expenditure, of the tharitable company for that period, In preparing these flnanclal statements, the Trustees are required to: select sultable accounting policles and then apply them consistently; observe the methods and principle5 in the Houslng SORP; make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures dlsdosed and explalned In the flnanclal statements; and prepare the financlal statements on the golng concern basls, unless St is inappropriate to presume L"hat the charitable compa ny will continue in business. The Trustees are responslble for keeping adequate accounting records that disclose with reasonable accuracy at any tlme the flnanclal posltlon of the charltable company and enable them to ensure that the financial Statements comply with the Companie5 Act 2006. They are also responsible for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the preventlon and detectlon of fraud and other Irregularftles. In so far a5 the Trustees are aware: there Is no relevant audit infomiation of which the charitable company's auditors are unaware,. and the Trustees have taken all steps that they ought to make themselves aware of that information. Slgned on behalf of the trustees Mr D Pendle Trustee 12
YMCA BRUNEL GROUP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2024 Opinion We have audited the financial statements of YMCA Brunel Group ('the parent charitable company,) and Its subsidiary ('the gmup,) for the year ended 31 March 2024 which comprise the consolidated statement of comprehensive income, the charity only statement of comprehensive Income, the group and charlty balance sheet, the group and charlty statement of change In reserves, the group and charlty cash flow statements and notes to the financial statements including a summary of significant accounting polices. The financial reportlng framework that has been applled In their preparation is applicable law and United Kingdom Accountlng Standards, including FRS 102 "The Financlal Reporting Standard applicable In the UK and Republlc of Ireland" (United Kingdom Generally Accepted Accountlng Practice). In our opinlon the financial statements: glve a true and farr vlew of the state of the group's and parent charitable company's affairs as at 31 March 2024, and of its incoming resources and appllcation of resources, including its Income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been properly prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneratlon Act 2008 and the Accounting Direction for private registered providers of social housing in England 2019. Basis for opinion We conducted our audlt in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our respon5ibillties under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent or 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 ethlcal responsibilities in accordance wlth these requirements. We believe that the audit evldence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In audlting the financlal statements, we have concluded that the board's use of the golng 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 uncertaintles relating to events or conditions that, Indlvldually 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 flnanclal statements are aLJthorised for issue, 13
YMCA BRUNEL GROUP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2024 Our responsibilities and the responsibilities of the board with respect to going concern are described in the relevant sections of thls report. Other Information The board is responslble for the other information. The other information comprise5 the Informatlon Included in the Trustees, Report, other than the financial statements and our auditor's report thereon. Our opinion on the flnanclal statements does not cover the other information and we do not express anv form of assurance conclusicin thereon. In connettion with our audlt of the flnanclal statements, our responslbillty Is to read the other information and, in dolng so, Consider whether the other information is materially inconsistent with the financial statements or our knovvledge obtained in Lhe audit or otherwise appears to be materially mlsstated. If we Identlfy such materlal Inconslstencies or apparent materlal misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companie5 Act 2006 In our opinion, based on the v40rk undertaken In the course of the audiL: the information glven In the Trustees, Fleport for the financial year for which the financial Statements are prepared is consistent with the financial statements. and the Trustees, Report has been prepaffd In accordance with appllcable legal requlrements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and the pant charitable companv 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 Att 2006 quires us to report to you if, in Dur opinion.. adequate accountlng records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the flnanclal statements are not in agreement with the accounting records and returns. or certain disclosures of dlrectors, remuneration specified by law are not made. or we have not reiVed all the information and explanations we require for our audit 14
YMCA BRUNEL GROUP INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2024 In addition, we have nothlng 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: satisfactory system of control over transactlons ha5 not been maintained. Responsibllltles of the board As explained more fully in the board's responsibilltles statement set out on page 13, the board is responslble for the preparation of the financial statements and for belng satlsfied that they glve 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 flnanclal statements, the board is responsible for assessing the group'5 and the parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and Ljsing the going conrn basls of accounting unless the board either intends to liquidate the group or to cease operations, or have no reallstic alternative but to do so. Auditorfs responsibllities for the audlt of the financial Statements Our objectives are to obtain asOnable assurance about whether the financial statements as a whole are free from material mlsstatement, 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 alway5 detect a material misstatement when it exists. Mlsstatements 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. Irregularltles, including fraud, are instances of non-compllance with laws and regulation5. 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, Includlng fraud is detailed below: Enquiry of management and those charged wlth governance about any known or suspected Instances of non compliance wlth laws and regulations and fraud. Reviewing minutes of meeting of those charged with governan any correspondence with the Charity Commission; Reviewing financial statement disclosures and testlng to supportlng documentation to assess compliance with applicable laws and regulations; Performlng analytical procedures to identify any unusual or unexpected relationship that might indicate a risk of material mlsstatement due to fraud; 15
YMCA BRUNEL GROUP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA BRUNEL GROUP For the year ended 31 March 2024 Performing audit WDrk over the risk of management override of controls, including testing Journal entries and other adjustments for appropriateness, evaluatlng a range business rationale of significant transactlons outside the course of business and reviewing accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularlties, including those leading to a materlal misstatement in the financlal statements or non-compliance with regulation. Thls 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 rlsk Is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omisslon or mlsrepresentation. 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. Thls 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 sectlon 137 of the Houslng and Regeneration Att 2008. Our audlt work has been undertaken so that we might state to the company's member5 those matters we are reqLJired to state to thern 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 bodyi for cur audit work, for this report, or for the oplnions we have formed. James Gare (Senior Statutory Auditor) For and on behalf of Sumer Auditco Llmlted statutory Auditors Chartered Accountants County Gate County Way Trowbridge BA14 7FJ Date.. i.l-lio........ 16
YMCA BRUNEL GROUP STATEMENT OF COMPREHENSIVE INCOME - GROUP For the year ended 31 March 2024 Notes 2024 2023 Turnover 7,965,614 6,849,941 Operating expenditure (7,719,090) (6,735,412) Operatlng surplus 246,524 114,529 Interest receivable and slmllar income 85,210 42,819 Interest payable and similar charges (85,642) (63,174) Surplus on ordlnary actlvlties for the year before tax 246,092 94,174 Taxation Surplus for the year after tax and total cornprehensive income 246 092 On behalf of the Board D Pendle (Chair) R Tidswell (Trustee) Date:
YMCA BRUNEL GROUP- Charlty Only STATEMENT OF COMPREHENSIVE INCOME - CHARITY For the year ended 31 March 2024 Notes 2024 2023 Turnover 6,955,950 6,327,549 Operating expenditu (6,743,756) (6,211,918) Operatlng surplus 212,194 115,631 Interest receivable and slmllar income 85,210 42,819 Interest payable and similar charges {85,642) (61,307) Surplus on ordinary activities for the year before tax 211.762 97,143 Taxatlon Surplus for the year after tax and total comprehenslve Income 211 762 On behalf of the Board D Pendle (Chalr) R Tldswell (Trustee) Date: 18
YMCA BRUNEL GROUP- Company number 03719773 BALANCE SHEET- GROUP As at 31 March 2024 Notes 2024 2023 FIXED ASSETS Social housing properties Other tanglble flxed assets Investments io li 13 2,484,780 4,509,947 364,360 7,359,087 2,505,554 4,595, 040 332,4S7 7,433,081 CURRENT ASSErs Debtors Cash at bank and in hand 14 240,270 1 239 561 1,479,831 353,439 642.835 996,274 CREDITORS: amounts falllng due withln one year 15 (1,394,265) (965,860) NET CURRENT ASSETS 85,566 30,414 TOTAL AS5Efs LESS CURRENT LIABILITIES 7,444,653 7,463,495 CREDITORS: amounts falling due after one year 16 (3,964,290) (4,229,224) NET ASSETS 3.480.363 3,234,271 RESERVES Income and expenditure reserve Restricted funds 21 22 3,232,732 247,631 3,001,177 233,094 TOTAL RESERVES 3,480,363 3,234,271 These financial statements have been prepared in accordance wlth the special provlslons of Part 15 of the Companles Act 2006 relating to charitable small companies. The financial statements were approved and authorised for issue by the Board on and signed on their be D Pendle (Chair) R Tidswell (Trustee) 19
YMCA BRUNEL GROUP - Company number 03719773 BALANCE SHEET - CHARITY As at 31 March 2024 Notes 2024 2023 FIXED ASSETS Social housing properties Other tanglble fixed assets Investments io 12 13 2,484,780 4,486,359 364,460 7,335.599 2,505, 554 4,564,291 332, 587 7,402,432 CURRENT ASSETS Debtors Cash at bank and In hand 14 383,418 1,003,546 1,386,964 358,065 483,075 841,140 CREDITORS: amounts falling due withln one year 15 (1,323,710) (802,447) NET CURRENT ASSETS 63.254 38,693 TOTAL ASSETS LESS CURRENT LIABXUTIES 7,398,853 7,441,125 CREDITORS: amounts falling due after one year 16 (3,952,821) (4,206,855) NET ASSETS 3.446,032 3,234,270 RESERVES Income and expenditure reserve RestricLed funds 20 22 3,198,401 247,631 3,001,176 233, 094 TOTAL RESERVES 3,446.032 3,234,270 These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable srnall companles. The financial statements were approved and authorised for issue by the Board on 30 and slgned on their behalf by.. D Pendle (Chair) R Tidswell (Trustee) 20
YMCA BRUNEL GROUP STATEMENT OF CHANGE IN RESERVES- GROUP For the year ended 31 March 2024 Restricted reservo Unrestricted Reserve Total At l April 2022 217,710 2.922.387 3,140,097 Surplus for the year after transfers 15,384 78,790 94,174 At 31 March 2023 and l April 2023 233,094 3,001,177 3.234,271 Surplus / (Deflclt) for the year after transfers 14,537 231.555 246.092 At 31 March 2024 247,631 3 232 732 3,480,363 21
YMCA BRUNEL GROUP STATEMENT OF CHANGE IN RESERVES- CHARITY For the year ended 31 March 2024 Restrlcted reserve Unrestrlcted Reserve Total At a April 2022 217,710 2,919,418 3,137,128 Surplus for the year after transfers 15,384 81,759 97,143 At 31 March 2023 and l April 2023 233.094 3,001,177 3,234,271 SLFrplus / ( Deficit) for the year after transfers 14.537 197.224 211,761 At 31 March 2024 247 631 3,198 401 3,446,032
YMCA BRUNEL GROUP STATEMENT OF CASH FLOWS - GROUP For the year ended 31 March 2024 Note 2024 2023 Cash flow from operating activities 23 935 300 248 779 Cash flow from Investing activities Payments to acquire social housing property Payments to acquire tangible fixed assets Interest payable Interest received and slmllar Income Net cash used in Investing activities io 11 (20.908) (132.548) (85,642) (128,964) (63, 174) {185.761 144 127 Cash flow from financing activities Payments towards penslon liabillty New loans reiVed in the year Repayment of loan capiLal (31,764) (31, 764) 121,049 (152.813) (156,180 187,944 Change In cash and cash equivalents in the year 596,726 (83,292) Cash and cash equivalents at l April 2023 642.835 726,127 Cash and cash equivalents at 31 March 2024 1 239 561 642,835 Cash and cash equlvalents conslsts of: Cash at bank and in hand Cash and cash equivalents at 31 March 2024 1 239 561
YMCA BRUNEL GROUP rATEMENT OF CASH FLOWS- CHARITY For the year ended 31 March 2024 Note 2024 2023 Cash flow from operatlng activities 23 351,204 179, 754 Cash flow from investing activities Payments to acquire social housing property Payments to acquire tangible fixed assets Interest payable Interest recelved and similar income Net cash used In investing activities io 12 (20,908) (128,769) (85,642) 53,337 181 982 (142,925) (61,307) 48,011 156 221) Cash flow from flnanclng actlvltles Payments towards pension liability New loans received in the year Repayment of loan capital (31,764) (31,764) 147 399 (179,163) 147,399 (179, 163) Change in cash and cash equivalents in the year (9,941) (155,630) Cash and cash equivalents at l April 2023 483,075 638, 705 Cash and cash eqLJivalents at 31 March 2024 473 134 483 075 Cash and cash equivalents consists of: Cash at bank and in hand Cash and cash equivalents at 31 March 2024 1,003,546 483,075 24
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 ACCOUNTING POLICIES General inftirmation and basis of preparatlon of financlal statements YMCA Bmnel Group Is a charitable company and a prlvate registered provider of social housing in the United Klngdom, The address of the Cornpany is given in the reference and administratlve details on page l of these flnancial statements and the nature of the Company's operatlons and princlpal actlvltles are pmvided within the Trustees, Report. YMCA Brunel Group constitutes a public benefit entity as deffined 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 Includlng Financlal Reporting Standard 102, The Financial Reportlng Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recomrnended Practice for Social Housing Providers 2018 (SORP), and with the Accounting Dlrection for private registered providers of social housing in England 2022. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008, the Companles Act 2006 and the Charltles Act 2011. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certaln 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 signlficant 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 flnanclal statements These group financlal statements consolidate the results of the charlty 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 expendlture account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Sectlon 408 of the Companies Act 2006. Tangible fixed assets Tangible flxed assets (including social housing properties) are stated at cost (or deemed cost). Cost includes costs dlrectly attributable to maklng 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 impalrment losses, Cost Includes costs directly attributable to making the asset capable of operating as intended. 25
YNCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Assets costing less than £1,000 are not capitali5ed. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estlmated resldual value, of each asset on a systematlc basls over its expected useful life as follows: Freehold land Freehold Property Improvements Non-housing freehold buildings Leasehold Property Leasehold Property Irnprovernents Equipment Fixtures and fittings Not Depreciated Over 10 years Over 50 years Over the term of the lease Over 10 years Over 3-5 years Over 10 years Plousing properties are divided into the major components and charged éepreciatlDn, so as to write-down the cost of each component to Its estiinated resldual value, on a straight line basis, over its estimated useful economic life. The company depreciates the major components of its houslng properties at the following annual rates. Land Maln fabrlc Roof structure <itchens Bathrooms Windows and doors Mechanical system5 Gas boilers Electrics Not Depreciated Over 100 years Over 70 years Over 20 years Over 30 years Over 30 years Over 30 years Over 15 years Over 40 years Annually, housing properties are assessed for impairment indicators. Where indicators are identlfled an assessment for impalrment 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 arrount, the property is written down to Its recoverable arnDunt. The resulting Impairment loss is recognised as operating expenditure. Where a property is currently deemed not to be providing service potentlal to the Company, Its recoverable amount is its fair value less costs to sell. Properties that provide housing are included within Social Housing fixed asset5 1"egardless 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. 26
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Investments Listed investments are held at market value and represent investment5 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 subsldlarles are measured at cost less impairment. Financlal 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: in trade debtor, accrued income and other debtors are basic financial Instruments and are debt instruments measured at amortlsed cost as detalled In note 14. Prepayments are not financial instruments. Amounts from the charity's wholly owned subsidiary are held at face value less any impairrnent. Ca at bank and in hand includes cash and short term highly liquid investments with a shorL maturity of three months or less from the date of acqulsltion or opening of the deposit or similar account. It Is classified as a basic financial instrument and Is measured at face value. Flnancial liabilities trade creditors, accruals and other credltors are financlal Instruments, and are measureé at amortised cost as detailed in notes 15 and 16. Taxation and social security are not included in the financial instruments dlsclosure definitlon. Deferred income is not deemed to be a financlal liability, as the cash settlement has already taken place and there is an obligation to deliver servlces rather than cash or another financial instrument. Loans and bormwings, are initially recognised at the transaction prlce 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. Impaimient Assets not measured at fair value are revlewed for any Indication that the a55et may be Impalred 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 carrylng amount exceeds its recoverable amount, an impairment10ss is recognised in profit or loss unless the asset is carried at a revalued amount Whe the impalrment 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. 27
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Debtors receivable and creditors payable within one year Debtors and creditors with no stated InteSt rate and receivable or payable within one year are recorded at transaction price. Any losses arising from Impairment are recognlsed in expendlture. Loans and borrowlngs Loans and borrowings are initially recognised at the transaction price Includlng transactlon costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less Impalrment. If an arrangement constitutes a finance transaction it is measured at present value. 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 I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charity for UK corporation tax purposes. The activities or the Company are partlally 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 arid trade discounts. The policies adopted for the recognltlon of tumover are as follows: Turnover repSents. rental Income receivable in the year net of 105ses 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 mDdel and the government grant is accounted for uslng the accruals model. The difference between the fair value of the asset and the consideration is recognised as liabillty and amortised over the useful economic life of the asset. This amortlsation is cognised within turnover. Where disposal of government donated assets are required to be recycled, a liability is included to recognise this obligaLion. Grants received as a contrlbution to revenue expendlture 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 reccgnised 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. 28
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Other income streams are recognlsed when the Company is legally entitled to the incorne after any perfomiance conditions have been met, the amount can be measured rellably and it is probable that the Income will be recelved. More detall on specific elements of other Income streams are provided below. For donations to be recognlsed 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 perforrnance before entitlement can be obtained then Income is deferred unt51 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 retsived under Gift Ald or deeds of covenant is recognised at the time of the donatlon. Donated facilities and donated professional services are recognlsed as income at their fair value when their economic beneflt Is probable, it can be measured reliably and the charity has control over the item. Fair value is determlned on the basls of the value of the gift to the charity. For example the amount the charity would be willing tci pay In the open market for such facilities and services. A corresponding amount15 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 or the charity belng notified of an impending dlstribution or the legacy being received. At this point income is recognlsed. On Occasion legacies will be notified to the charlty. 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 incorning resources in the perlod 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 rneasu reliably, Interest income is recognised using the effective interest method and dlvldend and rent income is recognised as the charity's right to receive payment is established. Interest income Is recognised using the effectlve interest method. Any associated income tax recoverable is recognised at the sarne time as interest income is receivable. 29
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 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 partles, It Is probable that the settlement will be required and the amount of the obligation can be measLJred 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 organisatlon, other than interest receivable and investment gain5. Employee benefits When employees have rendered a service to YMCA Brunel Groupi 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 it5 employees. Contributions are expensed as they become payable. 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 rnembers 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 Ilabilities relating to YMCA Brunel Group. As described in note 26 YMCA Brunel Group has a contractual obllgation to make pension deficlt payments of £23,356 pa over the period to Aprll 2027 (2023.. £41,323 pa to April 2029), accordingly this is shown as a liability in these accounts. In addition, YMCA Brunel Group is requlred to contribute £7,444 (2023: £9,803 pa) to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as Restrlcted reserves Restricted reserves are those reserves which are only expendable in accordance with the wishes of the funder or ff gulatory 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. 20
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Going conrn The financial statements have been prepared on a going concern basis as the Trustees believe that no materfal uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorlslng these financlal statements. The budgeted income and expenditure is sufflclent wlth the level of reserves for the Company to be able to contlnue as a going concern. Judgements and key sources of estlmation uncertainty The key sources of estimatlon uncertainty at the reportlng date that have a significant risk of causing a material adjustment to the carrying amounts of assets and Ilabllitles include obligations under defined benefit penslon schemes (see note 26) and the split and useful lives of components of social housing and other flxed assets (see notes 10 and 11). TURNOVER Group 2024 Charlty 2024 Group 2023 Charity 2023 Grants Adult & Homeless Prevention Incorne social Housing (see Note 4) Donatlons and legacies Pathway to independence {P2i) income Preschool education Bristol Wing income 447,915 130,932 447,915 130,932 244,051 131,052 244,051 131,052 1,954,988 29.948 1,157,695 2,453,014 29,948 1,157,695 1,852,283 43,480 1,058,549 2,168,863 43,480 1,058,549 1,943,551 106,899 279,314 1,943,551 106,899 279,314 1,837,480 206.605 253,174 1,837.480 206,6Q5 253,174 Health and wellbelng Income Income from tradi ng subsidary (see Note 3} other turnover (including Glft Aid donations from the subsldlary) 1,273,227 774,783 641,145 406,682 448,484 384,295 7,965,614 6,955,950 6,849,941 6,327,549 31
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 INCOME FROM TRADING SUBSIDIARY The wholly-owned trading subsidiary, Tria-Aktiv (UK) Limited, company number 02189118, whlch Is Incorporated In the Unlted Klngdom, 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 IOD ordinary shares of £1 each. A summary of the tracling results as recorded in that company's statutory accounts (therefore, gross of all intra- group transactlons), Is shown below:. 2024 2024 2,023 2,023 Turnover and interest receivable Hostel incorne 1,193,692 Catering income 66,291 Room hire 1,665 Functions Mlscellaneous sales Gi'ant income 710,611 52,002 1,062 11,579 11,108 1,273,227 774, 783 Interest 1,273,227 774,783 Cost of sales and administratlve expenses (1,029,328) 579,364 Profit / { Loss) 243,899 195,419 Retained profit brought ft)rward Amount gifted to YMCA Brunel Group 2,971 (198,390) (209,563) 34,336 The assets and liabilities of the subsidiary were: Fixed asset5 Current assets Creditors: amounts falling due within one year Creditor5: amounts falling due after one year 23,588 237,652 (215,335) (11,469) 30,749 166,133 (174,412) (22,370) Total assets less net liabilities 34,436 loo Called up shared capital Reserves loo 34,336 loo 34,436 loo 32
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 SOCIAL HOUSING TURNOVER AND cosrs (GROUP AND CHARITY) SOCIAL HOUSING LErrINGS 2,024 2, 023 Turnover Rent receivable after volds 1,954 988 1,852 283 Expenditure Soclal housing lettings Management Maintenance Bad debts Depreciation of houslng properties Other costs Total socia I housi ng lettings 1,606,510 91,663 79,184 39,216 165 985 1, 982,558 1,479,007 76,063 28,378 39,216 180 138 1,802,802 Operatlng su rplus / (deficit) from socia I housi ng activities (27,570) 49,481 Rent losses from voids 231.206 229,164 ACCOMODATION OWNED AND IN MANAGEMENT (GROUP & CHARITY) 2,024 Property Unlts 2,023 Property Units Supported Housing owned and managed Supported Housing managed for others 41 102 41 ioi 143 142 INTEREST RECEIVABLE AND SIMILAR INCOME Group 2024 Charity 2024 Group 2023 Charity 2023 Rental Income Interest and dividends receivable Gains / (losses) on investments 45,566 7,771 45,566 7,771 45,306 2,705 45,306 2,705 31,873 31,873 (5, 192) (5, 192) 85,210 85,210 42,819 42,819 33
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 SURPLUS / (DEFICIT) ON ORDINARY ACTIVITIES Group Charity 2024 2024 Group 2,023 Charity 2, 023 The operating (deficit) / surplus is arrived at after Depreciation other fixed assets 223,789 212,074 224, 042 216,789 Deprecation social housing pmperties Operating lease rentals Audltors remuneration - audit fee 41,682 41,682 39,592 39,592 37,670 39,871 29,505 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 l. Total remuneration (including ernployer national insurance) for key management persDnnel of the Company and the Group amounted to £425,363 (2023: £42D,823). No remuneration was received by trustees and non-executive board members. Durlng the year no trustees received reimbursement of expenses (2023: £nil). STAFF NUMBERS AND COSTS Group 2024 Charity 2024 Group 2,023 Charity 2,023 Wage5 and salaries Social security costs Pension costs 4,157,832 291, 761 214,444 3,627,899 259,988 203,968 3,555,171 247,398 197,396 3,279,347 234,330 185,627 4,664,037 4,091,855 3,999,965 3,699,304 The average weekly number of employees, including members of the management team, calculated on a full time equivalent basis was 158 (2023: 149). One employee recelved remuneration between £80,000 and £g0,OOD (2023: one employee). No other employees earned over £60,000. 34
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 10. SOCIAL HOUSING PROPERTIES (CHARITY & GROUP) Land Property Total Cost At l April 2023 Additions 225,650 2,415,642 2,641,292 At 31 March 2024 225,650 2,436,550 2,662,200 Depreciation At l April 2023 Charge for the year At 31 March 2024 135,738 135,738 177,420 177,420 Net book value At 31 March 2024 225,650 2,259,130 2,484,780 At 31 March 2023 225,650 2,279,904 2,505,554 Land leased to third parties for social housing represents freehold land, which has been developed by Bridgwater Young Men's Chrlstlan Association, under a 99 year long leasehold arrangement. The property was transferred to YMCA Brunel Group on l 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. 35
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 11. OTHER TANGIBLE FIXED ASSETS- GROUP Freehold land & property Leasehold land & property Plant & Machinery Gym Equipment Cost At l April 2023 Additions Dlsposals At 31 March 2024 3,925,319 17,750 2,149,322 63,149 354,993 14,290 78,005 3,943,069 2,212,471 348,662 78,005 Depreciation At l April 2023 Charge for the year On disposals At 31 March 2024 1,290,994 86,654 411,633 60,042 304,026 21,008 20,621 304,413 63,136 7,323 1,377,648 471,675 70,459 Net book value At 31 March 2024 2,565,421 1,740,796 44,249 7,546 At 31 March 2023 2,634,325 1,737,689 50,967 14,869 Office Equipment Fixtures & Fittings Motor Vehicles Total Cost At l April 2023 Additions Disposals At 31 March 2024 140,982 2,928 14, 114) 129,796 393,816 34,431 6,667 7,049,104 132,548 (34,735 7,146,917 428,247 6,667 Depreclation At l April 2023 Charge for the year On disposals At 31 March 2024 130,676 8,912 (14,114) 125,474 250,932 38,517 (6,148) 283,301 2,667 1,333 2,454,064 223,789 {40,883 2,636,970 4,000 Net book value At 31 March 2024 4.322 144.946 2.667 4,509.947 At 31 March 2023 142 884 4,595 040 36
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 12. OTHER TANGIBLE FIXED ASSETS- CHARITY Freehold land & property Leasehold land & property Plant & Machinery Gym Equlpment Cost At l April 2023 Additions Disposals At 31 March 2024 3,925,319 17,750 2, 108,425 63,149 285,812 14,290 20 621) 279,481 78,005 3,943,069 2,171,574 78,005 Depreciation At l Aprll 2023 Charge for the year ON disposals At 31 March 2024 1,290,994 86,654 392,576 55,952 237,060 18,793 20 621) 235,232 63,136 7,323 1,377,648 448,528 70,459 Net book value At 31 March 2024 2.565,421 1,723,046 44,249 7,546 At 3 1 March 2023 2 634 325 1 715,849 48,752 Office Equipment Fixtures Fittings Motor Vehicles Total Cost At l April 2023 Additions Disposals At 31 March 2024 127,310 2,928 (14,114 116,124 285,945 30,652 775 6,667 6,817,483 128,769 (35 510 6,910,742 315,822 6,667 Depreclation At l April 2023 Charge for the year On disposals At 31 March 2024 120,743 5,626 (14,114 112,255 146,016 36,393 2,667 1,333 2,253,192 212,074 176,261 4,000 2,424,383 Net book value At 31 March 2024 3.869 139,561 2,667 4,486,359 At 3 1 March 2023 139,929 4,000 4 564 291 37
YMCA BRUNEL GROUP NOTES TO THE FXNANCIAL STATEMENTS For the year ended 31 March 2024 13. INVESTMENTS Group 2024 Charity 2024 Group 2,023 Charity 2, 023 UK quoted unit trusts Investment property Other investment <shaS In trading subsidiary) 316,011 48,349 316,011 48,349 284,138 48,349 284,138 48,349 loo loo 364,360 364,460 332,487 332, 587 Movements In market value At l April 2023 Net gains l (losses) on revaluations 332,487 332,587 337,680 337,780 31,873 31,873 (5,193) (5,193) At 31 March 2024 364,360 364,460 332,487 332,587 Historical cost At l April 2023 and at 31 March 2024 UK quoted unit trusts Leasehold property loo,000 18,530 loo,000 18,530 loo,000 18,530 loo,000 18,530 118,530 118.530 118,530 118,530 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 2024 Charity 2024 Group 2.023 Charity 2, 023 Due within one year Trade debtors Intercompany Prepayments and accmed income other debtors 105,492 218,811 31,465 227,594 221,665 10,902 134,778 133,142 125,845 125,498 240,270 383,418 353,439 358,065 38
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 15. CREDITORS DUE IN ONE YEAR OR LESS Group 2024 Charity 2024 Group 2,023 Charity 2,023 Due In one year or less Bank loans (see note 17) other loans (see note 18) Trade creditors cdit cards other taxation and social security other creditors Accruals and deferd income Intercompany Deferred capital grant 153,444 40,000 103,119 11,904 117,640 47,774 862,629 143,216 40,000 92,943 10,348 75,823 45,470 858,155 153,192 67,000 136,180 8,162 93,909 51,405 398,257 143,216 67,000 128,939 6,687 61,839 49,325 287,686 57,755 57,755 57,755 57, 755 1.394.265 1,323,710 965,860 802,447 16. CREDITORS DUE AFTER MORE THAN ONE YEAR Group 2024 Charity 2024 Group 2,023 Charity 2, 023 Due after more than one year Bank loans (see note 17) other loans {see note 18) Deferred capital grant Penslon deficlt 1,211,101 1,199,632 1,305,402 1,283,033 2,710,412 42,777 2,710,412 42,777 2,768,167 155,655 2,768,167 155,655 3,964,290 3,952,821 4,229,224 4,206,855 17. BANK LOANS Group 2024 Charity 2024 Group 2,023 Charity 2,023 Amounts falling due: In one year or less Between one and two year5 Between two and five year5 More than flve years 153,444 153,703 820,688 236,710 143,216 143,216 819,706 236,710 153,192 153,444 900,892 251,066 143,216 143,216 888,751 251,066 1,364,545 1,342,848 1,458,594 1,426,249 Financial instruments measured at amortised cost comprlse the loan holdings provlded 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 £85,644 (2023,. £61,315). 39
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Contalned within the group balances is an additional £50,000 coronavlrus business continuity loan. This Is interest free for the flrst year and then is charged at 2.5%. The loan is repayable at £887 per month. 18. OTHER LOANS Group 2024 Charity 2024 Group 2,023 Charity In one year or less Between one and two years Between two and five years More than five years 40,000 40,000 67,000 67,000 40,000 40,000 67,000 67,000 The other loans a with Mendlp Dlstrlct Councll, it is interest free and repayable at £5,000 per month. 19. OPERATING LEASE COMMITMENTS Total future mlnlmum lease payments under non-cancellable operating leases are as follows: 2024 2,023 INot later than one year Later than one and not later than five years Later than flve years 372,967 406,954 2,852,879 356, 138 301,354 2,852,879 3,632,800 3,510,371 20. INCOME AND EXPENDITURE RESERVE . CHARITY This represents cumulative surplus and deficits net of other adjustments. Income and Expenditure 2024 2,023 At l April 2023 3,001,176 2,919,418 Total income (turnover and bank Interest) 7,041,160 6,370,367 Total expenditure (operating expenditure and interest payable) (6,829,398) (6,273,225) Transfers (to) / from restricted reserve (14,537) (15,384) Reserves Carrled forward 3,198,401 3,001,176 4Q
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 21. INCOME AND EXPENDITURE RESERVE- GROUP This represents cumulative surplus and deficits net of other adjustments. Income and Expenditure 2024 2, 023 At l April 2023 3,001,177 2,922,387 Total income (turnover and bank interest) 8,050,824 6,892, 760 Total expenditure (operating expenditure and interest payable) (7,804,732) (6,798,586) Transfers (to) / from restricted reserve (14,537) (15,384) Reserves Carried forward 3.232,732 3.001,177 22. RESTRICTED RESERVES (CHARITY & GROUP) Revenue and expendlture cannot be directly set against restricted reserves but is taken through the statement of comprehenslve 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 restrlcted funds of £247,631 to canry forward at the year end date. Details of restricted monies reiVed and spent in the year are a5 follows: Year ended 31 March 2024 At31 March 2023 Expend- At 31 March iture 2024 Income RoLFtes Frome Zaiger Trust Dawe Trust Grant The Malmesbury Fund Other grants and projects 36,472 27,171 16,554 91,105 36,472 27,171 31.091 91,105 23,413 (8,876) 57,000) (65,876) 233,094 80,413 247,631 41
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Year ended 31 March 2023 At31 March 2022 Expend- At 31 March iture 2023 Income Routes Frome Zaiger Trust Dawe Trust Grant The Malmesbury Fund other grants and projects 36,424 32,085 17,739 91,105 40,357 217,710 48 36,472 27,171 16,554 91,105 61,792 233,094 (4,914) (I 1,761) 10,576 24,710 35,334 (3,275 (19,950) Restricted reserve descriptions Routes Frome The Routes fund is monies received to fund the shortfall for the Routes drop In ntre 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 resldents to asslst wlth setting up thelr Move On accommodation. The Malmsbuiy Fund The Malmesbury Fund represents the monie5 reiVed 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 sIdentS of Malmesbury. The Fund was established following the sale of a YMCA property ir) 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 Trustee5, in respect of a number of youth work and accommodation projects. 42
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 23. RECONCILIATION OF OPERATING (DEFICIT) / SURPLUS TO CASH FLOW FROM OPERATING ACTxvrrIES Group 2024 Charlty 2024 Group 2,023 Charity 2,023 Operating surplus 246,092 211,762 94,174 97,143 Depreciation charges Amortised capital grants 265,471 (57,755) 253,756 (57,755) 263,634 (57,754) 256,381 (57, 754) Loss on disposal of fixed assets Interest receivable and slmllar income Investment loss / (gains) Interest payable and similar charges Revaluation of pension li abll Ity (6,148) (5,373) (6,148) 8,318 (53,337) (31,873) (53,337) (31,873) (48,011) 5,193 (48,011) 5,193 85,642 (90,010) 85,642 (90,010) 63,174 (74,771) 61,307 (74, 771) Decrease / (increase) in debtors Increase l (decrease) in credltors 113,169 (25,353) (155,219) (131,797) 464,049 63,745 464,049 63, 745 935,300 351,204 548,321 179, 754 24. ANALYSIS OF NET CHANGES IN DEBT - GROUP At 31 March 2023 At 31 March 2024 Cashflow Loans due in less than l year Loans due in more that l year Total Liabilities (220,192) (1,305,402) (1,525,594) 26,748 94,301 121,049 (193,444) 1 211 101 (1,404,545) Cash 642 835 596,726 717,775 1,239,561 (164.984) Total net debt (882,759) 43
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 25. ANALYSIS OF NET CHANGES IN DEBT- CHARITY At 31 March 2023 At 31 March 2024 Cashflow Loans due In less than l year Loans due in more that l year Total Liablllties (210,216) 1 283 033 (1,493,249) 27,000 (183,216) 1 199,632 (1,382,848) 110,401 Cash 483 075 520 471 1 003,546 (379,302) Total net debt (1,010,174) 630,872 26. PENSION COMMITMENTS Deflned Benefit Pension Scheme YMCA Brunel Group participated in a contributory pension plan providing defined benefits based on final pensionable pay for employee5 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, 650/0 matching portfollo and 350/0 in the growth portfolio and Schroder (property units only). The most recent completed three year valuation was as at l May 2023. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets of 4.560/0, the Increase In penslons in payment of 3.180/0 (for RPI capped at 50/D p.a.}, and the average life expectancy from normal retIrnet age (of 65) for a current male pensioner of 21.5 year5, female 24.0 year5, and 23.1 years for a male pensioner, female 25.7 years, retiring in 20 years, time. The result of the valuation showed that the actuarial value of the assets was £103.1iTr, which represented 92010 of the benefits that had accrued to members. The Pension Plan was closed to new members and future service accrual with effecL from 30 April 2007. With the removal of the salary linkage for benefits all employed deferred members became deferred members as from l May 2011. The valuation prepared a5 at l May 2023 showed that the YMCA Pension Plan had a deftcit of £9.1 mllllon. YMCA Brunel Group has been advised that it will need to make monthly contributlons of £30,800 from l May 2024. Thls amount Is based on the current actuarlal 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 5 % (2023: 3 % ). The current recovery period is 3 years commencing 1st May 2024. 44
YMCA BRUNEL GROUP NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 In addition, YMCA Brunel Group may have over time Ilabilities in the event of the non- payrnent by other participating YMCAS of their share of the YMCA Pension Plan's deficit. It Is not possible currently to quantify the potentlal amount that YMCA Bmnel Group may be called upon to pay in the future, Amounts recognised in the Balance Sheet are as follows: 2024 2023 Penslon deficit due in less than l year Pension deficit due in I to 2 years Pension deficit due in 2 to 5 years Pension deficit due after 5 years 22,897 42,776 31,760 30,807 92,421 32,426 Deficit 65,673 187,414 27. RELATED PARTY TRANSACTIONS During the year, the group paid for air conditioning maintenance totalling £3,774 (2023: £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 contlngent liabilities of £372,895, £250,150 and £1,795,400 to the Homes & Communities Agency in respect of the Social Houslng Grants obtained originally from YMCA England for the Frome Foyer, Harris House and Street Foyer bullélngs 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. 45