R•g1gt•red numbgr: 4116412 Charfty number: 1086320 YMCA BLACK COUNTRY GROUP TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 WR Partners Protecting your future. 'ADCDP78Q* 2510912024 COMPANIES HOUSE #46 YMCA BLACK COUtITrY GROUP (A ¢ompany limltsd by guarantee) CONTENTS R•f•r•nM and admlnl8lY•tr• d•tsll4 01 th• ¢ompany. Its TN•teeB and 4dvl•• Chalrnian's 8t•l•m•nt Tn*t••8' rnport 4.27 Ind•p•nd•nt iurfrtOTS' rnport on th• flnaneial #tat•m•nts 28-31 Con8olld•tsd b•l•nc• •h••l 34-35 coM￿nY baknnc¢ •hoot 36-37 Con•olld•ted stai•m•nt of 6•sh Ilo Notes to the Ilnan¢lol ¥tstsm•nts YMCA BLACK COUNTRY GROUP (A comp•ny IhThltsd by guarantsel REFERENCE AND ADMINISTrATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Tnmtaei J Oathy. Chalr A Walsh. Chair S Bologun G England M Fussell R Malhan (pppolnl8d 27 Jun• 2024) S Patrfck J Rowe J Sargeant M Shenton G StWiyef (appoSnled 11 December 2023) P Tomllnjon P Walkèr J Wetsby Company reql8t•r•d number 4116412 Charfty r•gl•knd numb•r 1086320 R•gl•t•r•d offl¢• Tramway Drivo Wolvethamplon West Mldlands W2 IBJ Complny ••er•tsry Chl•l •x•¢utiv• olNG•r S B￿ngtOn Indopendent audltorn WA Partners Charterod Accountants & Stalutory Audtiors Belmont House Shrewsbury Bu91n•81 Po Shrew5bury Shrop6hir• SY2 6LG 8ank•rn Unlty Tntst Bank PLG Four Brindlay Plac4 8lmlngham B12JB Sollcltorn MFG Sollcltors LLP Pamorg House Hall Court Hal] Park Way Overdale Telford TF3 4LX Page 1 YMCA BLACK COUNTRY GROUP {A comphny Ilmlied by 9uaranl¢¢) REFEREMCE AND ADMINISTRATIVE DEfAILS OF THE COMPAPIY. ITS TRUSTEES AND ADVISERS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 SollGltprn (Human R•80urc•s1 I￿1Th Mitthell Soltalors 31 Temple Streel Birmlngham B2 5DB Solieltorl IOp•rallon• & Wii9hl Hass911 LLP D•v•lopm•ntsl Olympu8 Avenue Royal Leamlnoton Spa WaNlck CV34 8BF Chl•f Olfimv T•affl Chlof Execufvé Offl¢er. Steve B•¥lryton Chlof C¢rpoiat• Offic•r- Jlll Law Chlef Oper81ions Officer (Plac8s>- Sally C(Man Chlef Operations Ollk*r (Progrnmmesl - Joanrn G¢ldl• Chlel Op8F8tlons Officw (Earfy yem) - Helen Brown (appolnted 10 Jun• 2024) R•g181or•d Provld•r of L4S50 8o¢lal Hou•lng Number Pago 2 YTrJJCA BLACK COUNTRY GROUP (A compiny Ilmltsd by gvaranlA¢l CIIAiif8 STATEMENT FOR THE YEAR EMDED 31 MARCH 2024 The Chair wesents hts statement f*X the year. Tn￿lee5 and slaff ar8 to be ￿ngra1VI￿1ed for thelr endeavour and Intsgthy, durfng 202>2024 agalnst the backdrop and contexl of some slwifi￿nI national political ond oconomic tumioll, a8 we resel followlng tho Covid orn. and arn adJu611np io iho fjnanclal 8qUOgZe that is affoctlng th• whol• counlry. AS we rJ)me lo the end of Ihe penumlmlte y88r of the 5 year Conng¢t•d C¢)mmunblle6 202(k25 Slrateglc Plan. pl•nned end written prlor to m8ny ¢hallenge5 outslde of our control. I hove been de1￿hled10 6eo the lfflpact that we have made over the last lew year5. For example, ow ambliion to providti high quality fflov&oD accornmo(tsllon for YDUNJ ￿Ople al a ¢￿t that would onable them to sabr for the luture, has po¥ltivety shaped Our hou$ing offer and ￿nIInUeS to 9row alongslde our supported hou5wy. We also opned ¢)ur nlnth day nursery in the ¢entre of Oudlty, sorvlw thè working populalion Qfthe borough. A8 1$ Ilttlng, all thanks to th• Lord J•5us for hls provlslon, guldance and encouragement to IIv6 otst OUT Ilenp and opportunty lo ffl•ké • posluvo dllhr•nc• In th• Ik¥88 of •laff, 8tskeholdern and th• wld•r comrnunity we 6errf•. As part ol an in¢reased lo￿5 Dn young peo￿e, and parli¢ularfy heamg thelr volce In our deryslon maklng, Ih 8gard is aCt￿elY reryuiling O young Truslee lo repre¥ent youth voke 8t 8oard level. To 8UPPOrt Ihelr Intsgralion and effectlveness, they aio lak5ng part In 8 YMCA tralning programmo. and mentorèd by ono of the current Tnrstees. with Ihe hope that they wlll becom? a TNslee al Ihe end of Ihls tratnlng. Th• Chartty has remalned slable through the transltlon and Ilr8t ￿aT of th• now CEO. Bulldlng on hl predocossor'6 woth, h• ha¥ brought 8 renew•d impelu$ to IncTeq$e our presence 8Th1 r*pul8tlon wllh #takeholder8 and partners across th8 Black County and beyond. Th18 has18d lo new pwrtnernhips, Indudlng the privllege of belrlg chosen by Black County Chafflb•r ol Commerce as Ih¢lr 'Chortly of th• Yaf., We have wealhgrod Ihg varf8d and aTduous 8tormF and, de8Prto thg ongolng ch•llengeB comrnon to th•ritlDs and btssln•ss ¥llke, we are steadlly fflovlng towards A pMs• of gro￿th. We have a190 maintaln¢d (w focu8 arj the YMCA V￿lOn and VAlu85 With thè appointment of the Head of Chri$ts•n Mlsslon. whD1gads on both th8 Internal support for Èlaff and monage￿. as well as e>lernally increasing our ￿$1￿lIty and Ilnks wlth ¢hurches 8nd oiher Chrlsuan organls011on8 a¢x05s Ihe Black Counlry. Th18 vltal worf( supports Ihe ￿re mSssion of lh• YMCAS work, in partlcular ensurfn9 that wa Mntlnue lo help people Ihrfv¢ In 'Splrft' 01 well 09 body and mthd, We ar• a Ioc41 charfty, embedded In Ihe f8brfc of tho Black County and South Slaffordshlre area, but we are also comm6tted lo playlng our part in tho wider movemenl. l am pleaMd ihal the YMCA 8lac* Country has been able lo $eNe the European YMCA movement by cothbuung lo Iho ongoiry dovglopmenl and dallvfrry of UNIFY Europe.. 4 collaboration of YMCAS who seek lo lurther ambed thè ChristS8n elhos. emphasls and mivJion ol the YMCA. This indudes activè support and engzgement wllh Youth UNIFY. sending youn9 People from Ihe Black County lo participate In lh• •nnual Youth UnSfy Fe￿iVal In Budapest In Summer 2023. A8 wju r?ad through the pa90$ of Ih18 TNJl•es Rewl and Annual Accou￿, you wlll dlscover an organlsallon wllh a clpar sens• ol purpo￿ and direGllon. • strong governance and manag8menl IramotAorf¢ and a slable finondal po?Ilk)n, There 1$ ao much need With￿ Iho 81ack co￿trY, 8nd an organlsglw ￿mM￿ted lo Iran$foTrning ¢ommunilie$ and onabllng young poople lo belong, eontrme and thrrve In body, mind and splril Is more relevant than ever. Dal m662 2024 Paoè 3 YMCA 8LACK COUNTRY GROUP IA ¢ompany Ilmltsd by quarantea) TRUSTEES. REPORT (incoypornting •trnleolc report) FOR THE YEAR ENDED 31 MARCH 2024 The fwslees presenl thetr annuBI rBPOrt logelher with Iho audtted flnanGlal slatemenls Df the YIACA Block Country Group IOT the year 1 Aprl 2023 to 31 March 2024. The AnrbUO1 rèport ts•r￿ the Pufposes of bolh a Twsleos. report 8nd a Dlredors. roport under compary law. The Trnstees confirm that Iho Annual report and finandal ststement$ ol tha char#ablo company eomply wlth tr current slalulory roqulromerrtj, the requirèments of th• chaihablg compan18 governing documffil •nd the proNision8 of lh& Slat•morrt of Recomm•nded Pr8¢tlce {SORP) Hpwicable lo dwiiTrès preparfng thelr 8¢¢ounls In accordanco wlth Ihg FthaKlal Reporting Slandard appllcable In the UK and Republic of Ireland (FRS1021 (effecyve October 2019) as amended by Upd8ted 8ullètln 1 and 2. The Group Indudes lh8 Charty, YMCA Black County Group and two subsldlary tharttles,, YMCA Walsall arKI YMCA Wolv•th•mplon. Ref8renL*s lo 'Th• Ch•rW re￿¢ to YMCA Black C*Xbnty Group onw. R6feren¢o lo nsolldated actl¥ity oi specllk sub$ldlarfes are 81aled. Commènt from the Chl•l ExKultv• OIfiMr 202>24 has been a yeai of Gonsolidatlon ond reviow. The work of chan9lng Ilves however has continued unabaled. We have slaned di•cu88ion¥ •bO￿ how we grow aur Impaet wth Ihe next generallon. To IhlE gnd hAv6 a ienewed youth focus and ero plannlng suslalnAble youth eon8ullotion as w• prepare foi a ygar of reviow and planning towards a new 61rnte9y for 202MO. The dèvelopmenl of 26 new unlt• of Yl6vin9 aC￿MModatIOn at 23S Hamsl8ad Road wa8 completed and handed ov•r In MArch 2024 wlth the scherne avallable for let earty In tho 2024r25 financlal year. followin9 a lol•l capftal Inve$lmgnt ol over £3.Sm. Thls wlll Increase oui r￿UsIng capaclty for Y-Liwng lo 165 units. ThSs vital move-on accommodatlon enablos wovking youn9 poople to secur¢ a hlghqualty Iow408l horne. provldlng 6tabillty and enabllng Ihern to save for tho firturo. Our Earty Years d•parfrngnl launched the YMCA Appr•nttc4$hlp Academy, lo T•cwN •nd trnln appr•nI1￿$ who are thtal lo Ihv ongoing succ888 01 th• nino nursery Gettlngs across the Black County. 24 Apprenllc08 across Iwo cohorts of leamèrs were reC￿fted and tralfted durtng thé yèar. The YMCA partnered ￿1h DWP to h051 tm Sandwell Youlh Hub. Thls hub WOTks wlth young pe(we •g?d 18-24,. WIK> Ire refeThed by the Job Cenlre. In partnershlp wilh DWP Work o)athos. YMCA m•nlors whhln Youlh Hubs have • primary ft>cus of addressing key b•rfer9 Ih•t ole currentty ple￿ntIn9 young people from ffidlng 8r#l keeplng employment. A¢r06s tho Gr￿P we Sérved ov•r 2,100 young paoplo. ¥vlnorabla adulls and young prohsslonals through our a¢¢ommod&lion and thildcare 6•r¥lr*8 (bf¢>adly Comparable on the prevlous year), and a fvrther 17,480 ¢omrnunlly member engagements In our range of pwogramme 8cllvSly1on Incre&60 of 20% on Ihe PTevlou8 ye8r). Consolidated tumover grew by 8% to £8,292,282. The defidt in the Chartty alone was £257,901 w6th a 0Tr501idaled deficit across the Group 01 £209.090. HthY•￿I. aur consolld8t•d E8ITOA waj £238.102 and £3S3.346 re$pecllv¢ty. The Golng Conc4m revlew re¢elved by Tru$lae$ In September 2024 ￿nIinueS lo demon5trale that the Chafitable Group is in a strong financlal posilion. despite the effect of ¢)ngolng e*éemal faclors such as higher enor9y ¢0615, and Ihat 9ovemanee and rnanagem8nt $lruclures are worklng effKivety. Contwiued gr￿h 15 ontr4palad in Ihe next financlal year. and o relum to 8 consolldalad swplus. Flnalty, I would like lo Joln the Chair and Truslees in noting my thanks lo all our supporters. slakehold¢r And our inuedibl8 Chief Officer¥, Slaff arKI Volunteer team, helplng lo makè what Is set out in these pa9tS PQ$sible. Page 4 YMCA BLACK COUNTRY GROUP (A ¢omp•ny Ilmltsd by guarant••l TRUSTEES. REPORT (Incorporatlng stratsAk rèport) {CONTINUED) FOR THE YEAR ENDED 31 IIIARCH 2024 ObJ¢¢tlv•• and a¢tlvltl•8 Mlsslgn, Ethos & Valu YIACA Blod( County Group Is a charlly committed Io Gommunlty Ifarnfom)atlon, enabllng peoplo to tJ8velop in rnlnd, body ond 6plfll, Btslll on a Chrfsllan foUnda￿on, wllh an •lh06 that Is Indu$ho of all, wo ar• a youth-mlnd8d org•nlMllon, wllh 4 ￿mmUnIty •ppro•th. l)Jr WOTk Ss prlmanty In pl•¢e$ 8VOS$ the Blad¢ Counlry and border areas, workSw with children, young people and Iheir famdie$. offering support & advlcp, accommodotion, famlly work, heollh & wellbelng, and trakning & oducatlon •VIff￿. TI¥IVIII b IJUT8 12..22 Tru81 Page 5 YMCA BLACK COUNTRY GROUP IA company Ilmlt•d by guaran1••) TRUSIEE8' REPORT (In¢orporatlng $trate9lc report) (COIfflNUEDI FOR THE YEAR ENOED 31 MARCH 2024 ObJecllv•s and •¢ts¥ltlè8 (conllfiu•d) b. Conn?etsd Communlilps: A Str4t•gl¢ Guld• The Senlor Leadorsh* Team And Tru$lees launched Conne(a•d COmm￿￿te$.. A Slrntegic Guide at the bèglnnlnp of the 20r21 finandal year. Thls year wo have ￿￿linued lo prijgross agalnst 11$ obJeL*ves. Th8 Stralepic Gulde ¢h¥li the dlrectlon ol YMCA Bla¢k Country Group (and •ub8idlarle$) Ihrough to th¢ end ol 2025. The slraiegy allows for conslderablg flexibllty In *ppllcatlM. and de8pile wider ehallengè9. It remalns robust docwnenl to gubdè tho I0￿41d. Connoot•d CommunlJ•s.' 2021%24 a Slrnlw Guhl•.1s surnmgrf$ed b•low, and 1$ beln9 dellv•i•d through fivè Plac•9 of Trnnsfoffliolbon A YIICA B¢ prn6ence •prn8d 8om88 our8r6e. WI￿ tran•fom?¢i￿n&ft ¢ommunil im 2L125 AIM 4 full svrylce 'central' Community BT8nches {2} 5 8ddiilon•l communty brnnches 925 ChlldcBrn pl•c•g (279} 175 SupponèLI accommodailon unS1512 01 { 751. 278 Youn9 Ptofe$slonal I worko1 unlts (60)1278}" CommUn￿Y outreach presènl inl 30 lown$ {13) {25}. 1 In 2 mombèfA of publk Are •waren•$$ ol YMCA pr¢••ncè In Communlty Branch lowns Focus I: Dellvernd By Sustainable 'Communlty 6ranche$' thal have suslalnablg 'qconomlc englnes. prfnclpauy b•sed on ¢hlldcare and 8ceommodatlon, Ind Irom whlch oihar community serylce8 c•n be dollv8red. Community Ovtroach l•callon8. which mfret 6lr•l•glcally IdoniHl•d n••d6. Commuth awareness of YMCA pro$ènc• & poslllvè Impact. Ntsmbèi In 2019 In 2024 Pfogrnmm•s for P•opl• Pa￿ developfft•nlptiJgrnmm•a. SO￿lft ol YIACA BCG 8gMc•B. 2025 Alm PIo9rnmme• r•e¢hlrbg 7,000 pèopl p,500) {17.480}' Quallty ossessmenls raled '9ood' whh >20% •t outsIBndlng (100% good) {11% 'outsIan￿1llg. 78% "Good., 11•A w•lllng lo be gradedl 018ilTrctiv• impad m•asur•s, d•v•lop•d & applled for all seTrlcg$ 1 Nthv icolabl• $odal enleiprl80 Id•nilfied & PTov•n Fow,• 2: Dellvewed By L¢Hmlng & SPJlls l HgaKh & W•ll4•lng 1 Famlly WO￿ I Support & Advlc• programmfjs whlch •vld8nc• inpacl, provlded from Communfty 8ranche81 Oulfeach Locdllons, or where area. widelspod•llsl servic•s me•1 8trat•glc need. FO￿$1n9 on th• dlstincilve of YMCA BCG, Dur 'eonnected ¢ommunty' apwoach •nd OUT unlqug •lhtrG and valuu. Nurtuiing a mtxed modol ol $oclal enterprise. alongside donor*•sed and comm5sslon•d 50rvl¢•s. '()Numbèiln2019{}In 2024 Pago 6 YMCA BLACK COUNTRY GROUP (A company limited by guaTrntsel TRUSTEES. REPORT lin¢orpornllng 4tr4tsgle Mport) ICONTINUEDI FOR The YEAR ENDED 31 MARCH 2024 ObJecOv￿ and aetlvltle8 (conthu•dl P￿rIng Young P•ople . Speual empl￿8￿ on enabling Jvtmg * aged 045yws Iv 8ok>n Contnbuh & Thrive. 2025 Alm Cfaaied a suslalnable youth-WO￿ model réguloily r88¢hlng 500 1o•nogèr$ {641 J month) Blrth Y4xrth Adull progression In 4 commun￿ eranches13} SO young >laH thdv• Ihfough 'Gmup' t•¥k*roup* whSch Btrelth Ih•m 100 young p•oph conirfbul• •• volunl••f8 4nnu•lly {120} Incr8a80 tru81848 agod under 35 {1) {1} Focus A. Dellvef•d By Informal èducailon youlh wort linked to YMCA BCG PTogramfflo •rea$ d•ltvered In YMCA Communlty Branches and Outroath loc•ilons. Provldin9 '8elong, Confribut•, Thriv•. pTogr888lon roule8 In Community Btan¢he8 for yQL•ng p•opl• lo grow wrlhin Ihe YMCA •D￿ronM•￿1 ... from chlld to l••n•9•r lo adulL Empoivedng youn9 sliffl volunleetsl Irugteeg to Bolon9, Conlribuie & Thrlve. Numberln 2019 In 2024 Gvowlng Etho8 & Valu NurtuiFn9 an fftcluswe Chrifjtian Gvllur•. wh•rn •¥• benefft*T. Fo￿8 4: Dolfver•d By Eff•clNe Inducllon and th• conslsten DI Chilsllan Mljslon Across the gtoup. 10.9. 6plrllupl cont8nt progw8mmo In nursedes) E$t4bNshlng Elhos Champlons In all YMCA BCG locallons. Developlng youth work whlch Ilnks Into Church l Ml88ional opportunlties. Supportln9 Chrfsti8n MIA$itin growlh through YMCA, locally, n•llonalty and olobally. 2025 AIIii SO Gov•rn•nc• Mambftrg (18) {2 100% compl•l• lull Inducllon wFlhlTr 3 monthG - duvkng th• yoar. lh¥ Group revgrtgd back to fa¢frto- foc8 Corporat• InducilonB howevw due lo ch8n901 In personnel, Ihls hai nol beèn as effecllve ag 8nllclpaled wfth o fresh approbth and llnk wllh tho Georgo Willl8m8 College belng explor￿ for the 204125 year 90% of locailons have a 1rftln￿ ￿h￿S eh4mplDn (O)- durfng lh• yoar, and lollow¥np Iho appolntsmnl of our Héad of Chaplalncy. the rol• of our Elhos Charnplony ivqs under i•vlew ind wlll bè •mb•dd•d In the 202W25 y•Ar All curTl¢vliims •rnb•d Mfnd Booy & Splrll and Belony, Conlrfbule & Thflve In•w childcare ¢urnkulum} 5 Chur¢h youth work partnershlps wothng wtth oY•r 100 young people {3 In ongolng developmenl) Ovpr 70% DI stsff en9ago in Chiistlan Mlsslon events 8nTrually P023124 over 50%} A nallonal Chrfsllan M5sslon stratew eslabllshed which conlrfouleB lo Worfd YMCA 'Numberfn 2019 In 2024 Page 7 YMCA BLACK COUNTRY GROUP IA ¢ompany Ilffllt•d by guarnnte•) TRUSTEev REPORT Iln¢ofporatlng str•t•glt rnpvrtl ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ObJecllv•g •ctlvltl•s (¢ontlnu•dl Invostlng al•nl Cfft*n9 • skillod. MI￿al$d and¢r••livv 8taff188m l•mgnl th• Str• io Guth. 1025 Alm 8 slaff have •Jnderta*en Entiepleneuflal I Splfllu•l I organ150tional1oad•rnhlp dev•fopmonl (oi w•r• reuvhed lor Ihe9e 5kill>) A longo of10018 afe dèvolop¢d 8llowlng Staff lo rè9ularfy reflecl on th• YIACA BCG ValuE8 lo lest they ale lfvin9 Ihem sn the51 woikfn9 pradic•. Rèal LI￿n0 WA9¢ lrnpl•m•Nollon tompleted Focus S: •llv•Trd By Spedfic •mph8858 on the development I Rcqulsition ol Entrepreneurlal L•8d8r8hip, SplrtluAI Le8dotshlp •nd OrganisaUoTral M•n8gement I Leadetshlp R•crulllng & felalnln9 ext•H•frt staff. ¢•ntlnualty d•v•lop•d And whg •x8mplKv ovr Elhol & Value8. 8tcomln Real Lmn eem lover Stral•gle r•pgrt Achlèvern•nts •nd pèrfomiance a. K•y iln•n¢l•l porfomi•n¢• In ortl¢r to enhan¢e transparonw and opennes$. accouTrls o)n3olkl8ted V*ith those of its charflable sub8irSiarfes •re Induded in the Financlal knounts and Stalemenls. in addillon to those of the c￿nty itself. Consolldated tumovor grew by 8% to £8.292,282. The dellcll In thè Charfty alone £257,961 wlth consolidated defKit 8cr085 the Group of £209,090. Howfftr. our consolidaled EBITDA was £238.102 and £353,346 iespocti¥ety.11 Jhould be noted that Ihe surplu8e8 kndude Iho Mcoqnlllon of¢apFtal gr•n18 a6 Incorng In aKordan¢o wth FRS102. b. R•vl•w ol aellvlll•8 Our Communlly Brnnches prnvlde a sustaln?bl¥ YMCA prnlence In town8 across th8 Blacl Country. Eath comprising a sodal ente￿riSe (usually chlldc4re or housln9 roialed) whtch forms n$ economic ¢ngine, and from whlch wlder charilable sor¥rie•s can be dpllvored. Communty branche$ hav8 8 rec4Ptlon, ¢2ntr¥l me¢iing hub, and deli￿1 3 key seThke oreis on slngle or rnuluple s1188. Full sorniiee communlly brgncheB deltver acrw 8115 Ihematlc seNl¢a are88 {houslng, tsmlty. & youth work, heaiih & well belng, trainin9 8 edu(glion. wpporl & advico). We asplre to dellv8r lour full somce Community 8r8n¢hes by the end of 2025. Wesl Bromwlch Cenlrnl Commvnlt 814nch Wèlsall Central Commun 8rnnth Wofveth&m lon Centr81 Commtsnl Full SeNIc Full Sèrvlce Curienil . delNgfS a¢r￿ 4 Ihgmattc alga8 Branch Page 8 YMCA BLACK COUNTrY GROUP IA ¢ompary Ilmh•d by guarant••) TRUSTEES. REPORT IlnGorpor4tlng str4t•AIG report) (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2024 Slrnl*gi¢ Rport l¢onllnued) Achl•v•m•nt• •nd p•rfomian¢• (¢onllnu•d Communlty Outrèach I￿￿on$ wlden tr* Scope and impaGI of our work boyond areas seNed by our Communlty 8r8n¢hes. Gi¥•n our aspirallon was to be reaching 25 Itiwntheighbourhoods by 2025, w8 have more than exceeded thr8 largel 8$ We are ￿rrnnlty reathlng 27 lowni (representing 135 neighbourhoodsl across oui s•nrtce aroa8 kn Progr4mrne8 alom. Communl OutrDach Locailons Dudley Centr41. Wrens Nest. Kales Hlll. Sedglgy. Lyg, Slourbrldgè, KlngswIDfoid, Cosel•y. Hg10sowgn, Bl&¢k H•glh, Rus9•11 Hall, MllkinB Bank. Prfory. Holly H•ll, Oakhom. Springfiplds, Netherton. Upper Gomal, Gomal Wood, LoweT Gom•l, Ocker ' trNII. Tlpton, Bank. Pensnett, Cradlgy HeBih, Old Hlll Dudley .Harnsk8d, w￿nesbury, Gre•18 Gre•n. W•st Brom C•nlral. Gr•ai Befr. RO￿eY Reg1¥, Old 08coIL Phoosey. Qulnlon, Oldbury, L8ngley Grèen, W4rt•y. Tlvldale. Burnl Tfè•, Gie•l Bridge, Black Lok•, Ling. Dartmouth. Gunns Vlllage. Chuichflplds, Stone Cros8, Fliar Pl￿. H4t•l•y Heath, Chartèrnonl, Str•¢dy. Boirdsley Groan W818811 Rush811, P•lsal, Caldmor•. Fullbrook, W•lsAII C•nlr•l. PaKrey, Ythy Tr••. C•ldmw•, Hlgh Galo. Blrchllls, Alumwvll, Chuck•ry, L•amor•, 04h•y Bgnk, Dèlvas, 8l*kenho11 He8th, Kln98 Hln. B••chdal•. Pel8811, Choslyn Hoy. 8rownhllL8, ￿drfdge. 818eott, D•rtaston WolVeth•rn￿oft P•ndefoid. W•dn•8 d. P•rkfi•ldJ. 8lak•nhill. Horlely Flgldth, Goldthorn Park, M•rry D•lfj, Chapel A8h. Bll$l•n. Gr41g•l•y, Merry Hnl. Pondelord. Dung1•ll HIO. Falllngs Pbrk. Wlll8nhall, Park Vlllage, Low Hlll, Wodne5field, Ettinpshall. Moseley, 8rndl•y, Clnder Hlll, Brodmore. Heolh Toivn. Lon•yffi•ld, Upp•i P•nn, All Soinls, Wood End. Ngw Bfldge, P¢nn. Cosfoid Siaffordshlro Boiders. l Othor Rug¢l¢y. Cannock Cho$9. Coslord. Shlwbury, BalsaN H•8th. Rollon Park, Harboufne, Handsworth, Nechallg. Aslon. Cgmden, Hednesfonl. Klngs Hèaih. Sotto. Hockley. Loz•lls, Acock8 Grèen. Selly Park, Jewellery Quarter. Pwry 84rr, Shard En¢J, Sollhull, LlcMl•ld, S•Mety. Lmle A51on. Cod8ali, Coven Th¢ number of accornff￿atiQn and thlld¢are placej offered acrojs the Bla¢k Countryls shown belLW. Pagè 9 YMCA BLACK GOUNTRY GROUP (A ¢omp•ny Ilmlt•d by guafant¢el TRUSTEES. REPORT IIThGQry>Orntlng 6tr0tsglc rttportl {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Str•t•glc Mport l¢ontlnueJl Aehl•v•m•nts and p•rforni•nce Icontlnuedl 'Communtty r•nc W•tsdl Centr Wast Bromwlth Central Wolvoth8mpton Childur• lac Hou•lng CornmuNty Outroach Loc•tlons Dudle C•ntral Pendeford - Chlldcw• HouBlng 21 179 23 10 179 115 85" Rugoley~ 28 Wedn46bury 'Dellv•rèd bv YMCA W8ls•ll . Delfvered by YMCA Wolvgrhamplon ExGluding 8ddilionAI 26 unh3 completed at th• •nd ol the Inandal y•ar Bloth County SL Hosls 45 Pelsatt Vill• • W8IBall Pelsall Lone Wals•ll Hurst Hlll Dudle L 0 Siourbrid Dudlo Central 32 60 30 63 100 Page 10 YP•lCA BLACK COUNTRY GROUP (A company limltsd by gu•r•ntro) TRUSTEES. REPORT lincorporatlng •hteg1¢ r•port) ICONTINUED) FOR THE YEAR ENOED 31 MARCH 2024 Stralègic v•port (conllnu¢d) Aehlavèments and perfomian¢• (eonthiued) Aeross the GTOUP. YMCA BCG and tt8 subsld]8ry Lthailb'es hBve provlded a cons18t•nt provlston ofaec•mmodatlon throughout the year. Supported hL)uslng piovtslon for 422 youn9 people wa6 dehvwed In Dudley. Sandwell. W8lsall, W0￿e￿OMplOn and South Slaffordshlrp, through a range of houslng projects In our Cummunlty Bianthes and Outreath projects, induding our Swortod Lodglngs netwtyk ol hojl forn￿104 and IndI￿dual9. . 162190Y•) tyibxh lty., I￿41¢Y0J￿￿f•%tr tknJWIiW.IyKt'slriili¢ Addlllonaly 153 ￿Ung adult8 beneffted from fhe Chartys Y-Lfvln9 (young PTof¢sslonal I w0￿er) a¢c4mmodalion In Sandw•ll, Dudloy and Wolvgrhamplon, The charfty shop based in W￿ne51}e10 wa• doxd when the lease expired in Augusl 2023. Durfng Ihe year, our'p•opi• d¢v•lopmenl' progrnrnmos coverlng a fange of seNl&* •re8$ Includlng1•8mlng and sk1118. heallh & wellbeing. lamily work and 8UPPOrt and advica programmes continued to Ihrlve. Our Comrnunlty Branthas In We8t Bromwith and Walso11, have fadlltl8$ for olher local d)ariti8s and social enterpTl$e4 to d•lfver Ihelr sarrflces and programmes lo the local community. and these ha￿ relum8d to 2D19 level5. Acr066 all of YMCA Black Country Group'* progrnmmo Aetlvlty (Including cornmu￿ty prol•cl$. supported hou•lng and chlldcare) th• charty group has worked wlth 17.480 people during the year. One ol our setting818 ofsl?d grad¢d'Othstsnding'. and 911 elght ofthe other 68tt1ng9 are Ofslod gradad 'Good'. 01gtlnclSve trnpact measurns have been devaloped Ihrough a june of key pèrforrnance IndlG91or8, ¥thlch aro collected and monllored by the Senlor Management Toam, •nd reported to th? Flnanc•. Audll and Rlsk Commmee Ihroughoul the yoar. The Strateglc Guldo asplrntlgn lo Identlfy one new scalable social enterprise has nol boen an area devewd In th15 fin8nclal year. Page 11 YMCA BLACK COUNTrY GROUP IA MmpAny Ilmlled by guirnntsel TRUSTEES. REPORT lin¢orporatlho stratsgi¢ report} (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Strntsglc rnport (contlnued) A¢hi•voments and ￿r￿•￿￿The• (conljnued) Watsall Central Sino11 Stre61 has enioyed a slalil• twèlve mothh peAodfollowin9 0 Blow recovery Irom the prevlous few years: In¢ludtng thè pèndemlc. The offlees are now fvll ond new partnoTshlps wlih Iho Ioc81 auihorfty havo been form•d as Sm411 Str••l b•c8m• on• ol lh• more succ•88lul W•l$•ll Conn¢Gtod Hubs,. A ¢apilal gfonl from the Cloth Workerp* Foundalion w•6 8ecured lo •nable ro￿￿1$hment ofthe communal JpBce8 Bnd for tho confèfOnCg #pacos, ind￿￿1n9 new brondlng for ihe cenlre In order lo Ma￿01 tho ladlbli8s moro'8pprowtototy. Progrnmmgs 11 th• Gl•b• C•ntrè' hJv• conilftued thlj y•4r wlih both 118 Publlc Heahh ¢oTrlrocl and the Blg Lott•ry funded INSPIRE programmé. ThlB yg•rwo hav• linked •ven morè slrateglc8lly wfth Ihe W•lsBII Dwg and Alcohol Siraleglc Bo&wd whlch hats further Incieased opportunlt5•s for partn•r5hLo wothjng whlch ha$ been wo1¢0ffi• addmlon lo the timel•bl8 ol acllviileg offeied. In qddlilon, we have hoslgd two oth•r local str¥leeJ •1 lh• Gl•b• (th8 Be•¢on ond the S•xtsat H•alth Clknk) fvrther c•m•ntlng our po$RIon $lraleglcalty wllhtn Walsall. We8t Bromwlch Cèntrbl y￿Yrn and Coff¢0 Shop have both boen gfowln9 and dèv¢ktpln9 thelr 0¢11￿ty ovèr lh• pa61 y•ar. Th• Coff09 Shop h•$ 69•n 4 ¢oTr$lslent growih In ovef the counl•r J•l•J •ftd provideLI A qr•BI c•nlT• ol •cifvhy lor Wog10rn GAI•woy. Y.Gym has conllnued lo conJl81onty Incr•a6•d In It8 m•mber5hlps lh￿ y•01 Ind now has a Sloble base of dlrecl dobil membets •ftd has slortod lo Increas• Ihe staff pr96•Trc8 on Ihe 9ym floor whlch is havlng 8 posluve aff8cl upon memberJhlpJ. Slmlljty 101091 yefir, gym memb¢r6hlp8 have not been aft158U•. bul thè hlrtn9 01 tho Iqrgof SPOCe8 8uch os the *porl6 h*ll and tho daftc• sludlo conilnut lo pre$ent thgllenGo6, dgsplte belng utilts8d wherever po8slble. W•8leih G•toway'$ Incubaior Unlts and Offlc• Let• h•Y• b••n fulty lèi over the p*Jl tr•I•￿e monlh*. Page 12 YMCA BLACK COUNTRY GROUP (A ¢omp•ny limit￿ by g￿ran￿o) TRU8TEES' REPORT Ilncorpornilng •trnt•ql¢ rnportj (CONTINUED) FOR THE YEAR ÉNDED JI PAARCH 2024 8￿t•91¢ Mport (Contlnued) A¢hl•v•ments and perforniance Iconllnued) Block Covntry-wlde Our Ment4)rlng Ailvlco & Guld•nu firogramme. G•l¢woy To AchigVP W•8 5UPPOrted by Ihe Boardlg run a slx month progiammg lo r•141n8laff whnst oddlllonAI prol8cls w•re dèvéloped. In October 2023 YMCA savrf the 6u¢c•88fv1 op•nlng ol lh8 DWP Youih Hub In Wesl Bromwlch whlch PrO￿￿e8 menlorfng and support lo youn9 p¢ople Rged 1&24 g¢eking emptoymenL Thls continvè5 lo be a succossful youth hub and has also hid vory w•ll att•nd•d lobs f•lrs h4ld al W¢stein G8tew•y. YMCA Black County Group ha8 also bo•n 8uee•s&fully d•llv•rfng thè Nallon•l M•ntorifftg Progf4mm&: Y8 glrli through • Partnershlp Agro•m•nl whh YMCA England and W•les. Th1$ programmo mglches Irained volunteer mentors wlth vuln¢rfyble l•malo8 •9ed &14. Howtvèr, duo lo Ihe lack of lunthng Ihls ro r8rnme doAed In March 24. Th• Youth Work Programm•, Y'a yO￿h hjs rnducéd delfvery durfng lèrn Ilm•i due lo a lack ol fundlng. Tha ¢uff¢ni programm• dèlhars tsyo ses51ons per week, one for SEND thlldren and on• lor homo odurAled youn9 Poopl•. Both tak• Pla￿ durlng th• daylim•. lft the holklay peftods w8 conknue ￿ dellvèr Ihè Holld8y Aetlvlty progrnmffle whlds In conlr8ded for all mAln xhool holdlys and funded by addNlonal #YES giants For ihe hglllorm provl81oft. Thls continue$ lo bo vgry wel attended and one of tho mjln p•thvrdys lo •ngage wfth youn9 p•opl• In Wolvwhafflplon. 05v•th•mplofvWld• udky ren8 Nesi Navi9nlor8 Hag now complelod thr•¢ yoars ¢1 d¢livery, whh 8tlendance rèmalnln9 hl9h and o change In the ofler of octivhi08 bling dellv•fed s • r•svh of successful coproduciion wllh the communhy. Wfens Nesl even saw pne ollts young volunleers boln9 short119t•d for, Young Volunleer of the Yearf at Ihe national YMCA Youth Matlers awards. Thg RAF Alrplay contrad began ln January 2022. Irb Soptember 2023 YMCA Black Country hand￿ back RAF sha￿Ury lo the main conuad holdor. Thls was dup lo the dlslance of Ihe prolecl- localod In the Shieivsbury. YMCA Black Country look on th• projecl In lh¢ 8tead of YMCA WellEnplon who dld not hav• capa¢lty to dehverth• prolecl, howeveithe inlgnslty ofmanagement ind LIsiAnc• lo the prohcl was un6uslalnable for the avaFlabl• flnaneès of the proJ•ct. Slaffordshlr• Bordérs Dellvered by YMCA W8lsall . D81￿OI•d by YMCA Wotvpthamplon Page 13 YMCA BLACK COUNTRY GROUP (A company limitèd by gu*rdnt••) TRUSTEES, REPORT {Incon>orntlng ¥tratsg1¢ r•portl ICONTINUED) FOR THE YEAR ENDED 31 ￿RCH 2024 sht•glc T•port {contlnu•d) A¢hlw•m•nts and p•rfomianu (¢onllnuodl Youn Wo fv•￿ seen a IMgibl8 In the groa ol work al YMCA wlth t4￿￿nUed lunding lor Y$ Youlh, Iht deltvery of Y'• girls, Ihe Wren6 N881 N•vlgalor$ w4ecl and alw the most recent delivery at both RAF Cosford and Sh•wbury. W• h¥¥e ytyjth W¢fk r•gularty M•ehlng an average ol over600 tèènagers per monlh. Wort in othef Slrateglc Objecllbtt to empoweT >ffjung peaplo wll be gl¥•n greater prlorfty in Ihe perlod 2022 2025. nomoly.. aating Blrth Youth Adutt PTogrn•ilon rout•8 In 4 Communty Branches Enabling 50 JNn9 stsfl membw5 to Ihrive through'Group' la8k groups ￿1¢h stretch ihem 100 young peo￿9 contributing a5 volunleors annually Incré8S0 th6 nurnbor ol tntstoes Bged under 35 Th• Trustees o)ntthue to revkn¥ the fole of Governance Member6 8nd explore +)PPOrtunlUes lo Inere•8e Membership fvom 22 loward the 2025 goal 0150. YTrACA Blad( County Group'• chlldcare curriculum conllnueB lo b• •mb•dded aerols 811 our thlknre s•ttlng$ ombeddlng Mlnd, Body & Splrfl and B8long. Contdbut? & Thdve wlthln tho Earfy Years Framework. Thlj CUrri￿1￿M has be•n shared widety aCfOS8 tho YMCA movement. YMCA 81aek Country Eaty Years learn and leadtrshlp have provtded ongoing Éupport lo other YMCAS lo Improve thelr pracuce and quamy, and lo model dSvèrnty wlthln B ch￿311•n ethos fram8warf(. The Ch•rlty cOntin￿d to wpport th• pl•nnlng of YMCA'S Unlfy Chrl8ll•n Ml38lon •vènts w4lh f8¢trlfyfaee e￿nIN durfng tho yeor, Includin9 our atteftdance at YMCA European Untty vthleh took place In Progua In Februory 2024 and whith was attended by a nurnber ol YMCA staff 8ntJ 8 8Dard Member. Followlng on from th16, our Chlfrl Operallng Ofllcer {Programme$)16 now a member of the YMCA Youth Unlfy Plannlng Gioup. laklng a group of ygung peoplo to tho foslfval In 8Lthp681 In Aull￿t 2LY23 and helpkw lo plan Youlh Unlfy 2024. Thè Charlty8 Head of Chrlsllan Ml88lon support lh• splrltual Ive ol tho org8n15allon, parflcul¥rty In taklng • lead lo pla￿de pastornl support lo slaff, and ovewelng chap181ncy IrnpACt wllh JeTrlce users and wslomern. The HeBd of ChrSsllan Mi65ion 16 a160 leathng on connoclln9 With local Church¢8 around th? Blod( Country and particulwfy In areas close to YMCA Propertie5. This wlll bulld slr8teglc links with p8rtners who Support +￿r seMce5 through volunteertng and joint Sntllatives. The Charws Chaplahw serviGe h55 Gonttnued to be supported durlng the y•ar through the West Bmmwich Church of England Deanery, and Blue Rsh Chaplalncy. WDlv•th•mptan. Tho Charfty has c4Jntinued Io FUPPOrt the woik ot Ihe YMCA MDvernenl Ihrough Fnvofvement in Ihe Reglonal forums & noh¥¢)rks, Goveman¢e Comrnlttee$, and Nallonal and Intematlonal conleiences and ovonls. Page 14 YMCA 8LACK COUNTRY GROUP eompany limited by guarantso) TRUSTEes' REPORT {In¢orporntlng •tr•tsglG MPOrtI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Strat•gk rnport l¢•ntlnuedl AGhl•v•m•nts •nd p•rfoThn•nM {¢onllnu•d) The Chartty was not Immuno from the cfjst of Ilvkng er15i$ and the oconomi¢ Impact ol In(Yeaslny Infiatlon, compoundpd by Ihe fvel cr1515 pladn9 • slraln on th• Tru81oe'$ ablllty to malntsln real term pay level$. Wh5Lst Ihe Real u￿ng Wago was nol abl8 to be Implemented durfng th• y88T, a 5% uplfft vrn$ awardod for slaff paid above Nalional Llving Wage from 1 Apfll 2023. From Aprl 2024, the Board awarded a 2.5°A upllll lor ari staff lor staff pald abov8 Nallonal Lmffj Wage, and Increased the b45• rnle for all 81off10 11p over th8 Natt(Thl Lmng wage. The Tnrnlees would Ilke to place on record theb thank8 to Iho CharlW8 Igam of staff and volunteers. who havo made suth a dlfference in lh¥ of many children. yvung peoF4e and famity m8mbers arJoJs the Black County •nd ¥uThounding area. evSdenc*d In thè above revtew of a(thIUes. c. CapStAI commIth￿lts The developrnenl of our land a1235 Hamstead Road. Gieal Barr conllnued durfng Ihg sear wilh tho pmpoty belng handed over In March 2024 and ready for lettlng May 2024. Thls development whh Jessup Partnershlp d81fv8TS 26 unh6 ol affordable young profèBslonal wovker accommodallon. Tho lotal build c¥>sts bgforo grant fundlng (and excludlng VAT)18 £3.2Q7m, with Ihe developer 88curfng Homai En91gnd 9r*nt lundlno of £1.949m and YMCA enlerfng into • wnlracl wllh Ihe d襕loper worth £1.256m. The YMCA h•$ se¢wed 8 dovelopmenl loan Charfty ￿nk for £1.2m (8eeur•d on Wastem Gate*ayl Ind the refflalnlng £0.058m from YMCA ResoTve6. Page 15 YMCA BLACK COUNTRY GROUP IA ¢ompany Ilmlt•d by guarantso) TRUSTEES. REPORT I1￿01pO￿tIng 8trnlegl¢ rtportl (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3trateglc rnport leonllnu•d) Flnanclal r•vl•w •. aolng COnC•rn The Trustees. supported ty thè Flnanee Audlt and Rlsk Commlttae. undertaken a detalled gcong concem revivw of Cu￿nI and future operatlons of the Charity 8nd the Group as whole and. alter making 8ppiopri8te enquSrfos, vory Ihorough conkld&r8llon ol draft budg818 and ￿$h Ilow up lo Mar¢h 2025 and hyond. ma￿n9 laken key sl(Bteglc deLaslon8, tho Trustees have a rea$orr8ble expectallon Ihal the Chartty has ad•quat• res(wr(x8 to contlnue operstlonil exi¥Jlence for the fore8eeable luluT•. TNBtéos have no doubt Ihal 1he Charfty can pay Its debls vthen they fall due. ￿rtaInlY lor in excess ol anè yaaf from Ihg date the annual ac(x>unts were 8pprovad. For Ihij reason. they eontlnue lo adopl the wng concern ba51s In prepaTlng tho fmanclal 81oi•mènts, Tho Tr￿108$ noted that desplle onolh•T challoDgln9 y•ar. the Group g•ngratod an 'EBITDA' cash Su￿1 (beforè depredatlon and loon Interest) 01 ¢.£353k whlch was onty m8rginal￿ below the budgeted E81TDA ol £404k. Al the lrne ot approval of thesg accounts. and In tho four monlhs to July 2024. Group had relumod a nsolldated $uWU$ of £231k w811 abov8 budget •nd an'EBITDA' cash surplus of a£468k. b. YMCA P•n•lon Pr•vWon YMCA Black Country Group recogni8•s posslblo eonL*m r8lating1o its partl*atlon in a defflned benefit ponsion 6¢h•m•. Approprlalé action has lakan.. thè sthemè was c1088d lo mombern In 2007 and tho Ilnk to Ilnal salAry broken In 2011. Addlb(Thl conlrlbullons contlnue lo be mado lo T•duGe lh• defficm. As part ol I YMCA federntion. the mulikemplo￿r scherne l¥ Nn by an indep8ndent board of IrustBe8 wbth •mployer rnpresonlgtton through the Prlncipal Employer. tho National Coundl of YMCAS. The peniion 8d)ème trustee$ oblain an advarial valLMtion 8vary three yearn and we have consldered Ihe Impll¢allons lo the charW$ flnances from lateil available 8duafial valuallon. We have review•d th• Gh8rW8 abilty to cont￿U• t¢ deliver Its ¢harllabl• objects by eniurlng budgetg, lorec8sl8 and plans ale av8118blo and InGlud• th• impad of th• d6ficil fopayments. The Iruslees Included th• Impact of pension schemo doficit r•payments ￿7 consld•ring g¢irvJ concwn, re￿￿4 and tha rlsk and uncertalDtle$ that the charfly fau noled elsewhere In Ihls Repart. YMCA Blad¢ County Group bonefits from th8 penslon 8¢h•m• tnJ8laes and the Prln(ipal Ernplo￿f seeking wltable $ped811s1 prolesslonal ad¥lce bolh lo rnanago Ihe Gchème and the conllnuing effort lo èxplore *Bys ol redudng Ihe overall pensbon defldl. Th• noles lo tho Ac￿Unts Indude• •n •¢countin9 polbw and lurih•r d•larfs in nole 21. Pa98 16 YMCA BLACK COUNTRY GROUP {A ￿rnPany limlt•d by guarantee) TRUSTEES. REPORT Iln¢orporatlng •tratsgl¢ r•port) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 e. Re•em8 PolE¢y Th• rev•luallon r¢8•rve repr•senl• the Su￿U8 ovar lh• ortglnal cost of th• ffeehdd lorn1 and bulldlngl whl¢h occuired. less deprecialion ol Ihe freahotd bulldlng•. loilowing v•rk)vs ￿lU￿tiOns, the last of whlth waa undertakn in March 2019. Thè Board haye agreed a poficy of r61alnlng a mlnlmurn £950k consolidaled cash reseNe (excludlng deslgnaled reser¥es) as suffi¢lenl to support tho c•$h management of Ihe Group. considering thè developmenl of futu prolocts, and in order lo a¢hleve Ihe grovrth 06plraUgn8 01 the Group'6 2020 2025 Slraleolc Gukle. Thls reserv• provld•s Immedlate cash for wortlng capFtal. Indudlng ihe ilucluaknng demonds ol deveknpmonL AddSllonalty. for the Chadty alone. lh8 cash rese￿0 polirylg lo be malnlalnfjd al a rninlmurn of the avernge monlNy oulgoings, which for 2021Q4 w8s £550k. Al 31st Morch 2024 the adual consolidated osh reseNe (exctuding des&Mted 108oM$) was £1,377K and lor the Ch8rfly along wag £600I bolh gchloving the poliw requirements. In ¢onsideiing medium term rfsks the Board have aweod tho1 unreJtri¢tod funds Ilnrjuding prop¢rty but n¢1 of 8oclal hou8ln9 gfanl and borrowlng) should be 8 mlnSmum ol 8 months op•rallng cost which al 31sl March 2024 was £3,304k Adual unrestrlct¢d lund$ equalknd £10.612k wovidln9 sITong fe8uurnnc8 offin#ndal #tsbllty. The Board also tracks a measure of IncDrn8 Securtty. requlrlng the propOrt￿n of budg8ted irKome considered 6vcure to be >80% of the overall budg81. Basod on iecenl porfomiance, budg8tod accornniodallon and conlr8¢f hcome are conslderèd swJr•. The Income Securlty Measure for 2023r24 18 93%. d. Dèslgn•t•d re8•r¥o• pollcy In addltlon to lh• Gon6011dated cash res•r¥es relwred lo above. the Board hava delernilned to 8et aslde Ihe lowng ¢•8h re80ur¢• lo be d¢s￿nated •• follow•: Slnklng Fund: £112k as a •lnklng lund r•8er¥• loi ffl8￿r ￿￿tal Improvement• In lh• yearn ah•ad. Tén Pef¢ent Fund £65k towards 6mo1 sule projètxs whlch fulfil YMCA BCG'8 ch8rllablg abjeds, meet the followin9 Cxkteria: A¢tlvlll¢$ whtch 6UPPOrt Chrfstlan Ml$8lon 8ulldlng Impro¥emenl# lor specific projects Posllfve o(*vitte$ whlch divert away from anll 80dd b•h8vlour Fomity acll¥ities whlch support good par8nUng Emergency resplle chlklcore hrfvg. Fund: £10k a$ fund lo support young peopl• PTOgIOS9Fng Into Hlgher EdUts￿On al d￿rnIty, Durlng the yew. £3k of supp?rt was provlded. 'Weffafe' Fund: £10k d￿l9￿018d to provlde finandal a881star￿ to our r•6ldent$ $uff•rlng from fitol rive irto Worr Fund: È30k de51ghated by the Board ri February 2023 to support our ro$id•nts w￿h Ihg Mlt of Ilwng Crisi$ qnabllng them lo move Into thelr own av￿MModatIon. Th08e fund$ have bè•n deslgfft￿tI lor a M￿muM a pèrlod ol two ye8rs, DurlThJ th• yew, £3.7LKI ol ffinancial gupport wa8 provlded. As a131 March 2024. unspent donations rec£Ned total £33,T15 for our"Moving Forward Fund. whkh have beori treaied as defe￿ed Incorne for future perlods of expenditure. Our "Moving FoTrvard Fund. provides financlal 8UPPOrt Io Ouf rosldenlj and servlce u8ern move lo independenl IhAng. Page 17 YMCA BLACK COUNTRY GROUP (A Company Ihnltsd by guArant••) TRUSTEE8' REPORT (in¢orporallng •trateglG r•portl ICONnNUED) FOR THE YEAR ENOED 31 MARCH 2024 •. mat•r1￿ Inveslrnnts polley Under Ihe Artldu of A6s0clatlon. 1hg Charfty has Ihe pry*er to in￿1 In any way the TNstee8 *tsh. The Trusl005, having regard to th• Ilquldlty r¢qulrements of doy-tfyday operalking and lo reBer4os h•ve, h11lori￿lty. OP8Taled a poli¢y of keoplng sufficient fvnd8 avallable on eurronl account Oo offsot $1ond•rd bank Charges) and in an interest beaiing 8e£èunt in order to gonerate a rntxlèsl Rte of ￿turn on such monles. The Chartty cuThenlty do86 not have funds awdilable to uliUse for investmerrt purpo8eg: worklng rapilal requlmments are from the Choritys currentaccount. l. PrfnGlyl rfskt and unMrtalntl80 YMCA BCG mainlalnl a Crxpornt• Rlsk R•glsl•r whl¢h l¥ Ih•n 'RAG' r•t•d. Thls 18 8cNllnlfjed by th• Rnon¢e Audtt and Risk Commltteo annualty and p￿sented to lh• Board for appr¢val. Thls ts ra￿eWed on a regular basls y IhB Chief Offlrtr team *tho, In accordance with the Rlsk Manapement Poll¢y, Ole requiied lo nolfy the Chult of the Board {nomially vla tha CEO> ol any n8w rlsks or any r• evalualéd exi$tlng Ralalned (Nel) Rlsks whleh axe••d th• Att•plabl• Rlsk Seort Thr•ihold a$ k18ntsf￿d on th• Co￿11&11 Rlsk ReW*t•f. The FAR completed Its annual soirtlny of Ihe CorporAie R18k Reglster llt its June 2024 meetlrvJ and tecornmondgd th16 to the Board fw apprnval. In addilion. Ihe Senlor Le8der¥hip Team are responstble for highllghtbng operatlonal rlsks which are captured on an Operatlonol Risk Register. Th13 Is perlodl¢alty reviewed at Senlor Leadeishlp Team meetings wllh a(Idition81 r16ks antl changos to existing risks discussed. g. Fln•ncl•l rf•k m•n•g¢ffl•nl obJfrctlv•s •1￿ pollcl•• The Tru8tees havo overnll re¥pon$ibllrty for the srJtem ol inlemal financtBI con￿. Ihe effecllveness ol whlth has b•on T•￿￿WOd Bnd r•portgd on to tho TNgleo8 by th* Flftan￿. Audbt and Rlsk Sub Commltte•. The prlnclpal elements of the system. which Is de81gnèd lo recollnli• the 6p8clilc charnLa•rfsllcs and obl•eli¥e8 ol the Assocolion and the rlsks la whlthll Ss exp05ed, Indude.. A clearly defined strudure whlch delegates authorlty, responslbbllty and aceounlAbility. Inc￿dIng r•8ponslbShty l¢r Intemal finanelal control lo management.. A weTI established budgotlng and reportlng luncalon. wlth budgets and results reviewed al 8 8enlor hvel wlthln the Assodalion to provldo 0 tirnoly and regular rnoniloring of financkl ￿rfOrmanCe., An inv•stmenl evaluation PTO¢81S to gnsure Tw8tees' approval lor all m*r capltal exp8ndliure commllmenls. and A regular revléw prooedurn carrted out by the A•4oclatlon of it¥ rf>k exposure •nd of Ihl $y8loms ol Inlemal Ilnanclal control In place to rnNigate those risks, wllh annu81 reports of findings lo the Trust•e$. Intem•l flnanclol control, by Il¥ nalurn. provldej thly rea8onabl? and not •bsolut• a8suran￿ Agalnit materlal ml•statement or loxj. Page 18 YIACA BLACK GOUNTRY GROUP (A ¢ompany Ibnlted by gvarantéel TRUSTEES, REPORT (In¢O￿or•t1Thg 8lrdt•qk rnportl (CON71NUED> FOR THE YEAR ENDED 31 MARCH 2024 h. Pflnclp•l fimdlng The Tru$le¢s wlsh lo Trcord trwlr slnGere approdlltlon lo Ihe varlous publlc bodlo• for m8kln9 9rnnts lot8lllng £3,607,948 across Ihe ¢onsolidated Group. The maln fundlng 8oiirc48 Mnlnuo to be iho $W>POrted houslng and $upportod lodolngs prdecl•, rnnls f•cel¥ed for accommodallon molnly through hou•hg bonafft logether capttal grnnl lundlng seGur•d lor th• 235 Phas8 2 DevelopmenL The Pdnclp•l lundlng soureai for the Ch•rfty ftir th• finon¢kg1 s•ar w•r•: Sourc• Accommodation R•nl Bla¢k Counlry Gro1￿ ￿al Homes Engkind CHAOO ILéid Conlr•ciofl Donailons Pro l Are• of Work In¢luding Housng B¢n8frt and Self.R•nl YMCA Cily Gateway- Phase 2 Icapllall 235 Phosfj 2 (Capmall Tfansntonii suM>trrt l aeeoMoOallon lor young peopl In¢luding Walsdl Almshousu and The Movin9 Forwartl Fund Supportln9 People Dudley Meiropoliwl Borouoh Councll The Evesoft TfU51 Sandwfll M•tropolitsn 8orou9h ¢ourt¢il Walsall Metropolitan Borough Court¢ll Cty ¢f Wohrtwnplon Covn¢ll Supported Lc(13ingS Supported LrJ(kJing5 and HAF pro¥iiiL)n Supported Led9inO$ YMCA Watsal Supported Lo*ings, #y￿ pr¢ie¢l, yoylh Prolfj￿0n ond YMCA Wofvttharn lon Wrens Nest aThd YMCA Wilsall. The Glebe C•ntr• The N8tiopAI Loiiery Commwlty FvThJ . RC Midlgnd Region DWP Commurdties in Sync W•81•rn Gai•wiy Sandw•N Youlh Hub WiLfer DelermiMnl$ of Health Gym. Cllé, Ccnfèrèneè 8ooklngs. Office Rental and Ct)ftfe(ence Bc#)k Gaieway lo Aehieve Room S onsorshl , C¥dent Prg YfvICA Wolverhampton YMCA Wolverhampton YMCA W¢fvert￿n￿lOn YMCA Walsall YUCA Walsan Benefact Iru$t YMCA Engi•nd Jnd Wale$ Nurs¢ry Fet$ One YMCA Sl•ffordshir¢ Co￿tY Council Sm•ii Slreet Centre GarTheld Weston ecl Page 19 YMCA BLACK COUNTRY GROUP IA comp•ny Ilmlt•d by gu•rnntoel TRU8TEES' REPORT On¢•n>tsr•tlng strateglc rnport) (CONTINUED) FOR THE YEAR EMOED 31 MARCH 2024 S1n•GtU￿ gOv¢Man￿ and maMq•m•nt a. Constitirtion The Charny Is • company Ilmlted by guarnnloe and Il• govornlng doevmonl 18 Its Artldol of AsKet3llon. ft Is an •utonomous Charity. and an aftlknqled membof of Iho Nattonal ol Young Mens Cmstian Assoclallons. whlch Is the mechanlsm by whicth the Individual YMCAA of England and Wales federate. In January 2020. the Board Tealfimiod Ils affifialion. 8i9ning the new Membership Agreemant ol tr* lederotion. For tho of elaiity. all rofw•ne•8 to Thiii••s ar• iynonymous vllh Olr¢cto(¥ for purpo$e• ofcompany law. The Objects of tho Ch•rity •r¢'. To •dvanc• the Chrlsllan f4lh, IrKludng by: a) promoilng a Chrtdan en¥ironm¢rt In$plréd and motivated by tho tilo. example and teacNng ol Josu6 ChriBt. wherg pgople offarfh and p￿pIe of none work together for the tronsfonmllon of comrnunlllo8,' and eng4bling peopl& of 811 age• and In partlcul•r young peoplo. to Iloyilsh Ihrough ￿P¢r1•n¢1n9 •nd re8p¢ndlng to the low of God d•monBtratod by the lih, example and teaching olJèsus Christ,. b) To Pro￿de or as$l8t In the provlslon In the Intere¥ts of 8orJg1 wellarn of lad1￿1¢& for racfe81ion and olh•r l•l$urn Ilm• ¢￿￿POIl¢n for fflon and women with th• object of Improvlng th•lr ￿nd1￿¥￿S of lif•; To provlde or 86$1st In lh& provlslon of ¢ducatlon foi peoWO of ail ago3 and In part[￿lar young people. Iho obJ•GI ol developing tholr physlcal. mental or wiitual capa¢bll85' To relleva or 8$slat In the Trllef of people ol 8118ges and Ih partius18r young peopl•. who are In u>ndlllons of need. hardshlp Dr dlstress by reason of Iheir ￿¢4a1. phywcal. emollonal, Jplrllual or ¢¢•nomic circumstan￿.. 8nd To wovlde ro81denU•l actommodalSon, Inckndlng Soclal Houslno, f¢r pwl• ol all Jgo¥ and In panl¢ular young peo￿e, who are in need. ha￿ShIP or dl$tres• by f¢•son oftheir social. physleal, emil￿91. Spiritual or economic cir¢umstances. Th• Ch•ffly w6l¢om••, 8eM8 ano v￿rkI wlth per•ons of qll r•llglou• lallhs and of none. Pa9e 20 YMCA 8LAGK COUMTrY GROUP IA ¢0Tr4)any Ilmlt•d by gu•nnts•) TrUSTEES' REPORT Ilncorporating otratsglc r•port) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Stru¢tufe. governanc• and management l¢onllnuod b. Pllethods ol appolntmwrt or alecllon olTrustees Th• Goveman¢• Comrnittee is la8ked wth oveTseelw lh• proc088 of Board 6klll gap anatys18 and th• recrullmenl Df nèw Trustees. Thè Committe• have been partlcularty acllve in rerkn*nt year8 oversa8in9 tho r•cruitment of new tnJ8tths as reUr6ng tsustses hav¢ ￿MPla{ed Ihelr threè tèrni$ ol offico. Thoy havo Gwght lo de￿lOP o heollhy diver>ty, ensuflng al￿&y$ an appropriato matth ol skllls and •thos. ¢omblnod wlth an Inienllonal deslre to broaden gender. Othnldty and profaes. The Board place on record Ihelr Ih8nks io G•off Stonyor who rollrod as 8 Tfuslee In November 2022, Furthof Mciultmèn1 1$ planned lor 2024r25 In(authng reuvlllng a Young Trustee.. TNsleo8 810 appointed by el•ction al AGM or LY) option. in 8¢cothnA wllh lh• Artlcles. At the lirn• of this report'8 opwgvol, the mokfrup of Ihe Board was ats follo￿. ex Fem81• al• .Ethnlc Elhnlc Mlnorlty Whll4 20-40 41 11 . Oryanliallonal •tructurn and decS8loD4n•klng pollths The Ch8rW• forbvard stral•9y, twher wlth hlgh lovol polKy arè wrowd by th B￿rd. The Chl•l Ex•artlv• Offl•r IB fo$ponElble to th• Board for Ihg operational Nnpl•mentallon, d8lfvergd through Chl•f oifie8r$. and wldar Senior Leadernhlp Team. PA I• IM Chl•l Olll¢•n Chl Chl•lg>p•w•tl** ¢hl•l ¢(*Tror•i• 1yri￿￿- oiri¢W- t•ply *•ry 01 %•l*ly W￿.11b•¥I7 ¢rt¢rtrn4*hily Chi•f Offle•r Strudur• and Wider Sonlor knader$hlp Ttam R•$pon$lbllltl•$ Page 21 YMCA B￿K COUIITftY GROUP mp•ny Ilmltsd by guarnntse TRVSTEES. REPORT Ilncorporallng $tral•gic raport) ICONTINUEDI FOR THE YEAR EIIDED 31 MARCH 2024 Structuretr 9o¥•rnan¢• and m•na9emeTht (conllnu•dl Group Subsldlarles YMCA 8CG h th• 1016 fflen￿r of Iwo thoilt•ble iubsldlarf•8, YMCA waI￿N, and YMCA Wol¥•rharnpton. E8¢h dellver$ against objects conslslfrnt wllh YMCA BCG for Ihelr des&naled geo9rnphlol 8r&J$. YMCA Wolverharnom addillonally takes prfme responslblllty forthe Group'$ Ofstad regl$l¢fed dI￿d￿re provision. All pre8enl Tru6tee8 are tho Trusl•es of the6e two subsldl•ry chorftl¢8. TN$to01 oro •180 DIraCt￿ ol an as8odale company West Bromwl¢h & Dl$trkt YMCA ComMun￿Y Enterprises and subsidl#ry company YMCA Blad¢ Counlry Sodal Ente￿nseS Umlted. both of whlch are dormant lollDwln9 Ihg Gro￿ re¥truclure offecllve from 1 Aprll 2019. •. Rl•k m•n•g•m•Trt The Tru5teeJ have assessed Ihe major rf8k8 to vthlch Iho Charbtyls exp09ed, In partiwlor those related to the OP•falion$ and finance of th• Chprfty. and are 60llsfied Ihat 5￿m8 and promdures are ITh pl•¢e lo mStigal• aXP08ure to the majoi ri8ks. The Truslees hwe assessed the rnalor risks to ￿1¢h Ihe Charty15 exposed, In partthlor Iho8e r•*t•d to thè operations and flnance ol the Charlty, and are saU$lled that systems and procedures are In place lo fflitigale exrA)5UM to thè major rlsks. The FAR complg1•(1118 annual $(xullny of tho Corpor•l• Rl¥k R•gl&ler at It4 June 2024 m¢gilng wllh lh• R•gi•i•r m￿MM0nded Io ond oppr0￿d by th• 8oaTd In July 2024. f. Govemanc• M•mb•rn Governance Membgr8 •fO members ol the cornpany under Ccmpjny lthv. gnd appolnted, os definod In th de¥. Govemence members ensure the Chanty remolns faithlul lo ll8 Chrisllan foundation and charttsble PUIP06es. ty. holdln91h• Board lo •ecounl al •ath Annual Gen•rnl Meellng,. afid appointwig new trust•• dir•dors to th• Board. Throughoul the year. Oovomancè Member8 arn updated on Ihe Chartys progres$, In%4ied lo propd vls118 ond spocial evenl8. and whore approprialely $kllled, ¢omo partl¢lp•t• on a number ol the Charity8 Commhl•g8. Th¢re are cu￿e￿Ily 22 Gts¥eMan￿ M¢mbers. and the Bowd plan8 19 Increase Ihlj lo 80, lo gakn gr•ater (Mne￿h1P gflhe Charty from acr*x81 Ihe BlarJ( Country. Pag8 22 YMCA BLACK COUNTrY GROUP (A ¢ompony Ilmltsd by guarantee TRUSTEE8' REPORT Iln¢oryorntlng •triieglc report) ICONTINUED) FOR THE YEAR ENDED 31 IIARCH 2024 Structsr•. gov•rnan¢e and m•nwm•nt IcontJnu•d) g. Commltt•o Stfuthrn The Board delegate scnrtlny lo several standlng Cornmlttees to ptovide offic48th g￿rnan¢e and effeclive usè ol Board ilrne. COMM￿e86 oper8les under terms of reference 601 by the Board. Commltt Composllk¥n 7rustees Mark Fussell *arn'. Numb•r 13 Sox •m•l• Male Eihnlc Eihnlc Whlle nlor Manag•r• 16-35 3645 5645 Inodty 13 Manaoorn Sup•TvI8oT• 16 36-55 $645 66+ 11 20 F•m* Mall 31 Elhnl¢ Whlte Undl8clos•d Inodty 13 21 Oih•r l R•ll•f I Volunteer8 196 16-35 36-55 5645 108 F•m•l Male 156 40 Eihnle Mlnorlty IAlhlte Undi8cIo8•d 7d 110 12 40 The Gov•fflane• Commthe8 hag tAen wthing to bnprovo th• CharW8 re8pOn￿ lo EDI mattbrs for th• PHBt few years, and are p8rtKularly plegs8d ￿rf1h Iho posltlve devebprnenls Ihls year. Plans loi firtur¢ p•rfgd• Tho Connecled CommunSlieg.' 2020 25 strAleglc guide. contlnues lo provldo the h8lpfvl Btew Ihrough Ih18 turbulent time. conl8ining sulllclent fl8xlblllty across the flve areas of focus, to adjust to Ihe thangin9 •nvironmonl. Sp•dfi¢ Inltlatlvgs In the eomng yaar Inthd• lh• follTh4ing: Explorlng tho utillsallon of tr*1ond and bulldlng8 adjolnlng our wemls85 81 Gfeen Lanq whlch was purchased durtnp Ihe 2022123 year. Conllnulng to embtrd the YMCA Black Country Cmdcare Cuthpjlum withln our sèttings and expknln9 opportunltte$ to womolg lh• Cuirlculum a¢ro8$ the YMCA Federation; E¥pandlng youlh Wofk and menlorlng provlslon In Wolvethampton, Wilsall. Oudléy and San(hy￿. ExploTlng opporlunilles lo expand oui Earty Years offer across the Black Counlry., Emwering more young people Ihrough sponsoiship and volunleering OPPDrtun611es'. and Supportlng In Iho coordlnation of Youth Unity and European Unlfy devolion￿ programmes. Page 24 YMCA BLACK COUNTRY GROUP (A company Ilmll•d by guarant•8) TRUSTEES, REPORT Ilncorpornllw strateg1¢ rnport) (CONTINUEDJ FOR THE YeAR ENDED 31 MARCH 2Q24 R•gulatory Bod1•6 and Statutory Contr• Ch•rfty Comml••lon and R•gulrtor ol 80¢lal Hou•ln9 YMCA gCG rewnlseg that good govemanee Is essenual to Ihè suceess ol a charfty. In sel8Ctlng a Code of GovgTnanc¢ lo adopt (seo below), the Tn￿lee5 rnnsld•ied their obllgallons lo bolh the Charxy Commission Ènd tho Règulatorof Soelal Houslng. A 9011 a$se¥smpnl r•vlew of Ihe Economlc and Coniumor Stsndotds Set by tho R•9ulilor of Soclal Housln9 took place h the Summer of 2021 undortaken by Chl•f Offic•r8 and nomlnated Tru8teo8, whSth waj laler report•d Inlo the Boayd. TNgleeJ remoln confidenl thil the chArtty remaln6 ￿mplIant wllh thè slandards, There were no 8•flw$ Inddgnts rlpprtable lo Ihe Chartiy Commisslon or the Regulalor ol Soclal Hpuslng durln9 Ihe year. Cod• ol Gov•rnan Followlny a compaTatFve rnvlew by Ihg Govamance d8¥elDpm•nl Commltt•e, In March 2021 Ihg TNsl•es odopted the Charity Code ol Gov•m8rtt (2020) belièving Iho rev6sed fonnat better suhed 1he needs to tho chartty. Pflor lo thls. the thrlty usad the Na11onal Houswig F•dwallon Code ol Governanre12015). Th• Tru¥l••$ ocknowledg• eomplianc• vlth th• Chamy Cod• ol GovornAnce <2020) codè, and have l•sked tho Govamlnce Commlttao wilh Ihe Tole of Tocommendlng rem•dlal and lrnpmm8N 8￿10n￿ tt> the Board. Fundral8lng 8tst•mw Fundralslng undertaken by Ihe Charhy IoT116 chaTttable ocllbltles are caThied out by •mpkyees or volunteer8 01 Ihe Charity. Fund8 r8i5ed outside of contracts and Iradod Income are malnty sourced Ihrwgh ¢h•iitoble granls obtolned ihrDugh 8 rf9ofDUS procosl ol appIl￿tIon. Fund$ pr8Benlly raimd from volunlary don8l•Dn• ar• prfnclpally ft*r sp•eified PUW*608. n8m•ly thè 'Movlno ForniArd Fund. wlth fund$ raijed d•$ionaled lo provide low cost resources lo YMCA resldenls who arg In Ihe pro¢es4 of movlnB inlo Independent 8LxxJmmoda1￿ft: the Glebe (>ntre, wlth donatlons ra58ed lor Ihe operatlon ol the cent￿, provig1oTr of food and elothlng,. Ind tho 'emergency fv61' fvnd. ￿1th donalions supwlng YMCA resldeni8 who are stnwgling lo meet thelr basSc hEaU ghling naeds. No fundral8ing has been und8rt8K¢n on beholf of Iha YVLA 8la¢k County Group T the aud of the nnanclal slatements section ol our reporL We are independent of the Group In aC￿nIance with the ethScal reqwrements that are relovanl to our oudit ol the financlal statements in the Uniléd KIngd￿, Induding Ihe Flngn¢l#l Reportin9 Coundl'8 Elhlc81 St4ndard, and wo hav• fulfilléd ¢ur othor elhlcal iesponsibililie$ In accord8ne* wilh those requlremonts. We bal5•￿ that tho audtt ¢vldone• wo havè oblalrnod 1$ 8ufficlenl and appropr5alg lo provide a basls fgf our ophl¢n. Conclu•lon• rnlatlng to golng con¢¢rn In audSNng Ihe financlal Jtstsmenl8, we hwe conduded thal lh• TiLffjieotr uuè of the polng oonc•m b•Bl$ ol aC￿lUnting in lh• preparation of Ihe ffinAndal 3tetemen151s apprapriate. Based on Ihe work wè have porfomed. we have nol IdenlifRd any maleriol uncertaintles relallng lo evenls or condlUon$ IhaL Indlvldualty or coDocllYety. may GJ$l 8lgn5fic&nl doubl on Ihe Group's or Ihe parent ¢harllable companls •bilty lo continue as a 9olng ¢oncwn foi i pèrfod of At leAiI tw•lve rnonlhs from whon th• Ilnancbal statements authorised for issu•. Our re6ponSi￿litie5 and i•sponsibnities of the TrnSte￿ wilh rn8POCt lo golng cancem ar8 de8uibed In the l•vant Sg¢#on$ of Ihl$ roporL Page 28 YMCA BLACK COUNTRY GROUP IA company Ilrnl¢•d by guirnnt••) INDEPENDEKf AUDITORS. REPORT TO THE MEMBERS OF YMCA BLACK COUNTRY OROUP ICONTINLIEDI Oth•r Inlomi•tlon Th8 other Infam)atlon cofflpris￿ the lTrformatit)n included #i the Annual report olhef than Ihe financial Slatemenls and our Audllor6' report Ih6r¢on. Tho Trustees are responslblo for Ihfr olher irfomiallon Contained within thè Annual r•p)rt Our Wnlon the Itnancl81 Bt&tem8nts does nol cO￿T Ihe Diher Inlom)allon and, exrept to th• oxlgnl olheThY15e oxpliotty 81at•d In our roport. we do not •xpro$$ any foTh of assurance conclu8lon Ih•reon. Our sponslbllily Is to read the other infofflwtion and. In dolng 50. conslder whether the other Inforniation ts materialty Inconslslenl with Ihe financial 8loleTnents or our knowledge obtained Sn the course of th• audit, or otherwSse appegr8 to be m4teiialy mi¥stated. If we identy 8uch maleriol Inconsi￿ene101 or appqTOnl m*erfal ml8$totemonts, we ar• r•qulr•d to dolemiine whoth8r IhL% glves rls• lo a material mlBslal•monl In th• flnanclal $talemenls them$el¥es. If, based on Ihe work we ha￿ porformed, we condudo that there 15 a mateilal misstalement of thls olher Infomiallon, w• wo requlred to feport Ihal tdct. W• ha￿ nolhlng io rnpart In lh￿ rn9•rd. Opinlon on olh•r malteyB PrnI¢rf￿d by Ihe Comp•Dl•• Act 20 In our opinlon. ba￿d 4>n Ihg work undortaken In th• courn• ofthe audtL' Iho Inlormatlon 91¥on In Iho Trustees, report Indudlng the Strateglc report lor th• fin8ncial year for whlth tho financlal Statements are wopared Is conglslentwtth the finane4al st8temonls. the Trn6tees' report 8nd the Slr8tegic r•porl ha¥0 boen p￿Pared In arxoTdanrA wNh appllcable legal r•4ulrements. Mattovs on wblch w• am rnqulrvd to rnpDrt by ¢xG•pdon In the Iighl ol our know￿98 and undernlandlng ol the ¢harlt8bl• c4mpany and tl8 ¢n￿ronment obtatned In the urse of tho audlt. we hBve rKt idonllfied material misslatements In tho Truslo0$' r•port kncludlng Ihfr Sirdt¢9le r¢pori W• hav& nothlno lo report In rnjpeth of lh• lollowlng mattern In rnL•tk)n to vthkh Comp•nlp• A¢1 21)J6 r•qulr•s us lo report lo you ff. In our oplnlty).. the parent chwrtable ¢ompany has not kepl adequate ar￿ 8ufficlent ac¢ountlng records. or r•tums adequalfr for our èudil hov• nol been receiveLI from branches not Vi6tted by us; or lh• parenl charhabla comp8Ay Ihanci81 gthiem8nt$ are not In aweemenl wlth th• aco)untln9 rKofd8 •nd retu1￿., or Certain dlsclosures OfT￿S￿Os. Temunwatton specified by law are not rnada; or we have not ree4lvad all Ihe SnlormatiDn and eXp￿na￿an$ w8 r4qubre for ow audll. Page 29 YMCA BLACK COUNTRY GROUP IA company Ilmlted by guarantse) INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF YMCA BLACK COUNTRY GROUP (cotinNUED) RKpon8lbillli•s of In*toes As expl•ln•d mor• fvlly In the T￿10•*, f•Bpon￿bIlM(oS $t01em•nt, tho Truslo08 (who ar• a180 tho dlTecl¢M ol Iho charilable company for the purpose$ of company law) aro rn•ponsible fof the PTeparation of the financi•l statements arKI lor bdng satisllod that they gNe a true ond fllr view. ar￿ lor 8u(* internal control as tr Trustees delemilne Is nece68ary lo gnable Ihe pr•parnllon ol finoncl#l statemènts thal are frèe from m*erlal misststem•nL whether duè kn fr8ud or error. In wepartng Iho flnandal 8tatsm•nts. the Tw$lees are rn$pon81ble f¢r a$$e8elng the Group's and the pargnl chailtsble companls abillty to continue Bs 8 go5ng concem. disdoslng, as applicable. matter8 ielated to going oncem and using the going concern ba61B of accounting unless the TN$teos eSth8r Intend lo liquidate the Group or the PaT•nt tharllablo cthpany or to c•as• op•rnlion8, N hwo no reallstl¢ aft6mall¥o Ixrt lo do $0. Audltord. r••ponBlblllll•• for tho •udltof the fln•nelal 8tAt•m•nts Our obleetNes are to oblaln ieasonable a$$uranc4 about wh&th8r the finandal st8tèmenl8 as a whole are free Irom materkl mlsslalemenl, whelher duo to fraud or error, and lo Issue an Auditors, ieport lh￿ Inejudes our oplnion. Reasonablo •ssufdnc• Is 4 hlghlovel of a88urnnco. bui 16 nol 0 9uarnnt81 Ihal an audtt contJucl8d In gccordinc* with ISA$ (UK) wlll always déiect a malerl81 mlsslalèment when il 9x1815. misstatemer￿ can arise ftorn froud or effor and are consldered fftateii8111. IndivKlually or In Ihe aggregate. they could re860riably b8 •xpecled lo Infiuonce Ihe econornk deixslons of users taken on the ba$ls ol these financial ststefflgnts. Irrepulafftlei. Includino fraud, arè In8tanc•i of noTrvcompllanee wllh law8 •nd r•gulglloM. W• des￿￿ pro¢gduT•S In Iln8 With our re8pon61bilitles, outllned above, lo deled matsrtal mi$stslements In Trspecl of I￿egUlarl1￿S, Includlng fraud, The extenl to whlch our proc8dures ale ￿Pable ol deleding irregularliles. Inclurfinp fraud ki da&illed below.. . We Teviwod the •UBcepllbllity oflh• tharitabla ccmpanyg finonclal stglernents lo malerfal rn18slal•ment and id•nllfled tho prlnclp81 iisks. Impiemerthng a 861ios ¢1 tesllng pio¢edure$ io provldo us wllh 8ufflclgnt comfort lo Issue Qui ophwon. . We r8viewed the ehafttable COrnPAtys regulatory ènvlronmenl to enwr6 we o)utd concludo ihai tt had adad In accordance wilh thè framèwo￿ relevant to the chaiitable ojrnpany and Its en￿rOnment and Idenlfy inst•nceJ ol non-compll8nu. . We also assesgod Iho charltablo coryi•nYi Intain•l control proc•dur•s to en8UfO w• c4uld appffoprlat•ty SGrullnlse Ihose conlrols and ostablish btheth•r our undwstandlng of th• rthfol •nwonm•nl was suffl¢l•nt lo supplemont our 8dditSonal tOSttng wacedures. . The engagemEnl leam conslsled of a learn that tho engagement partner believes is equipped wilh Ihe r•l•vant levd of18chnlcal and choritablo e4>mpary awar6nos8 to corry OLrt our worf¢ lo tho requlred •l•ndard. 8e¢8use of th8 Inherenl ￿mItatIonS of on oudl Ihern is a rlsk Ih41 we will nol dete¢a all fvgulariil•$, Indudlng thosè lea￿￿g to a malerial misst818m•nl in Ihe ffinarKial stalemenls or nOr￿COmp￿3nee with regulation. Thls rtsk n(xeases t￿ mor6 that cornpllance wlth a law or r8gLdation Is removed from Iha events and transa¢tlons reflected In th¢ finandal 51alemenl$, 8$ we will be1055 likely lo become ttware of inslaneès of non IIIDEPENDENT AUDITORS, REPORT TO ThE MEMBERS OF YMCA BLACK COUNTrY GROUP (CONTINUED) U89 of our r•port Th18 rewl li mad8 solely to the th•rftable companvs rnembws. a• o body. In acc£*rthce ￿th Chapler 3 01 Port 16 of 1he Cgmpanlès Acl 2006. Ouw avdit work has been undertaken so that we mlghl tslats to thg chartlable Gompanrfs members those matters we ￿e required to slate to them in an Audilors. ￿POrt and lor no other purpos8. To the fullest extent permltted ty law, wo do not accept or a8surn• respon6￿lIty to an￿e olher than thi charitabl• eomp8ny and itg mernbars. as a body. audll wort(, fty th1$ r•port. or fw lh& opinions wa have lomied. Andr*w M•lpags and on behaff ol WR Partnern Chartered Accountants & Sthknrtory Audblo Bglmont House Shrewsbury 8uslnes8 Pafk Shrawsbury ShTOPBhlr• SY2 6LG A FCA IS•nlor •l•lvlory •udltor Date- Pag831 YMCA 81ACK COUNTRY GROUP (A ¢ompany Ilmhod by gu•ranio•) COMPAMY STATEMENT OF COMPREHENSIVE INCOME AS AT 31 MARCH 2024 2024 2023 Nole Turnover Operating Expondittsre Opmtlno Surplu￿(0•flc1l} Finance Income nanco Payablè surplu￿{D•I￿lty lor th• y•ar Totil ¢omprnh•n•lv• Incom• for th• y•ar 6Y8,446 6 S09 981 6,022.853 5 803 595 219.058 10 31.465 206 1267.M11 33,987 P898 32 YMCA BLACK COUNTRY GROUP ¢A ￿fflPary limlt•d by guaraftt••) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMe AS AT 31 MARCH 2024 21124 2023 Note Tumovw Oporating Expbndilurè Opornllng Syrplu•llD•fi¢KI Flnance Income Financ• P￿•t1• SurplU￿{D*fklfj lor th• y•ar Tot•1 eompr•h•n6lvè In¢om• lor thè ye 8,291282 7,642.523 80h14 7,127 244.573 10 1209AIg01 59.482 Page 33 YMCA BLACK COUNTRY GROUP IA company Ilmlted by guarant•e) REGISTERED IIUMBER: 4116412 CONSOLIDATED BALANCE SMEET AS AT 31 MARCH 2024 2024 2LY23 Nots Flxed assets Housing prwrties Tanglbl¢ as¥ts 11 12 16.867.466 1,186,702 15,637,558 1.071.845 18,054.167 18,709,403 Cun•nt 86&6ts Sio(*s O•blorJ Ca$h al bank and In hand 13 14 18 2J8 527,568 2,347,767 238 840. 714 2,562,283 2.•75,513 3,411,235 Crpdilors: om(iurts falling duo withln one year 16 (2367,1171 (1212,313) N•1 Gurr•nt a61•ts 108,376 1,198,022 Tolal a•sets less currnnt Ilabllttbo 18,662,643 17,908,325 CMdStor8'. amounts falling due ¥fi¢r fflore th•n on• (6,376,862) (4.388, 750) Nèt •Mets ¢x¢ludlDg p•n8lon liiblllty Defined benefft pension scheme liobShty 13,286,981 128,8811 13,519,575 (53,385J 21 Tolal n•tiu•ts 13,257,100 13,466, 190 Page 34 YMCA BLACK COUNTRY GROUP (A company limlted by qwrnntsel REGISTERED NUMBER: 4116412 CONSOLIDATÉD BALANCE SHEEf ICONTINUED) AS AT 31 MARCH 2024 2024 2023 Chirlty ￿nd¥ Restricted fvnds Unrostrlcted fimd8 363,837 12,903.263 399.832 13,066.358 Total fund8 13,267,100 11468, 190 The Trustee$ a¢knO￿edge their responsibWilies for comptylng with the r•qthremtrfs of the Act Ylth respe￿ lo a￿>untIng re￿rdS and prep8fatioTr of flnandal $tatements. Tho flnandal •lat•m•nli w•1• •pwoved and authOrf￿d ft*r Issu• by the TnJJtoes and •1gngd on Ih•lr behalf by, Chlof E¥e(xrtlve '. S. i&4liihl&TO Da 2014 Th• notè$ on p •8 4010 58 lami part of th•80 ffinaneJal stot•ments. Page 35 YMCA BLACK COUNTRY GROUP (A compftny Ilmltsd by gu•rnnto11 REGISTERED NUMBER: 4116412 CCthPANY BALANCE SHEET AS AT 31 MARCH 2024 2024 2LY23 Flxed •wts Houslng propvrties Tanglbl• a•iets 11 12 18.887,485 307.171 15,637,558 244, 190 17.174.143 14881,748 Currènt u••ts Debtors Cash 01 bank ond Sn hand 14 334,496 953,068 698, 141 792,238 1,287,604 1,490.379 Cr8dltors'. amounts falllng dua wlthln one yegr 15 12,119,005) (1,784.272) N•t ¢urT•nt IIAbllltl (293,893) Total ai8•ts1•99 currgnl Il•bS110ès 16,293,102 15.587.855 CredlloTS.' amounts laUln9 due aft•r more Ihan on• ￿#1 f4,388, 7SQ) Net a$8•ts gx¢ludlng p•n8lon Illblllty 08ltnod bonofit penslon scheme fiabillty 10.916,640 11.199. 105 21 128,8811 (53,385) Totsl n•1 ￿•*• 10,887,759 11.145, 720 Page 36 YMCA BLACK COUIITRY GROUP (A ¢ompany limited by guaran1••) REGISTERED NUMBER: 4116412 COMPANY BALANCE SHEET ICONTINUEDI AS AT 31 MARCH 2024 2024 2023 Chartty fund• Re8tricled lunds Unrestrtcied fundB 10.SOO 10.177259 27.482 11.118,238 Tolal lund8 10,8•7.769 ti,145.720 Tlw carnpons1$ not rnovemeTrt In fimd8 lor th• y•ar w•• £{257.961) (2023- £33,967J. The Twstees acknowl8dge thelr rosponslbllttles for e£+mplylng wlth the r¢qulremDnts ol the Act wllh respecl to accounb'ny records ond prèparntion of financlal 51alomenl5. The finandal ilalements w•r• 4pwoved 4￿ho￿led lor ljjue by the TN8lee8 and 8lgn8d on Ihelr b•haff br. $1 Chief Executlvo . &. 6AiiIN&Tb Da IÉ 2ou* Tho note8 on p8gei 40 to 58 form part ol thesè fftianclal statement6, Page 37 YMGA BLACK COUNTRY GROiIP (A ¢ompany Ilmlted ty guarante•) REGISTERED NUIIBEK. 4116412 COMPANY BALANCE SHEET (CONTIWUED) AS AT 31 MARCH 2024 Group 8tat•m•nt olChAnges In Equlty Aevenu• D•4gnat•d R•v•luatlon R•Jtrletod Rosèr¥•s R•wrv•s Reser¥es 2023 AllA￿l Syolu$l{defidl) ftsr year TrnnvfBr3 9,237,733 -188.223 997,944 2,830,681 399.831 13,408.190 13,408. 708 40,867 409,090 59.4W2 113,895 8.768 Q5,127 176 2,830 611 363,837 13,257 100 13,466. 190 Conwany 8tateTrnt of Changes In Equlty R?v•nu• D•ggnated Renluatlon Re•lrl¢ted R••eNeg ResoNas R•*rv•8 2023 Al 1 Aprll Swphtsi{defidl) tsr Ihe yaar Trnn•fETS 8,ff27.323 280,233 2.830,681 27.482 11.146,720 11. 111.763 -257,961 Q57.981 33.967 49,e82 2.71X) -18.982 10 500 10,087 7Sg 11, 144 720 Page 38 YMCA 8LACK COUNTRY GROUP (A Company Ilmlt•d by ouarant001 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Caoh IIOVA from op•ratlno acllvttl Net cash used In op•Trting aclvilies 17 265012 211,174 Cash flow• Irom Inv••tlng •etlvld•• Oividftnds. Int•r•$ts And rènts froffl investiii•ils Pu￿h￿s* oftsngible fwed a$s¢ts Purch•so of houjlng propertlei io (2Q4,6471 f92,5TO) 11 J•8hlO) (633,451) Net ca•h u••d In bnv••llng o¢ilvld?s 11.600.152) r126,0111 Caoh 11ow• from fln•nclno aedvlil•• Cash Inflows Irom new boml Ropaym•nts of b¢rruwlng 1.200.000 179,086) (112,285) N•t ¢a8h provld•d byqumd In) Ilnanclng •dlvllles 1.120,914 11112861 Cthan9• In cash •nd ¢a•h •qulvahnts In th• y•Ar Cajh anfl ca8h equi￿lents 31 Iho beg5nnlng olthe ye•r (214,026) 1627,12ZI 2,681283 3,189,405 C••h ind u•h •qulval•nts at th• •nd of th• y•ar 18 2,U7,767 1562,283 The nolè8 on p8ge8 40 to 58 fomi pArt ofth•se financl81 *Éèmonts Pago 39 YMCA BLACK COUNTRY GROUP IA eompany Ilmlt•d by 9u•ranteel NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Genernl Infommllan YMCA 81aek County Group Is a ￿vate company Ilmlled by guaranl•e, rngislered in England and Wales. The charitable companls fogi5ter¢d number and registered address can be found on the Company Infomiallon paqg. The rnemberj of the company are the Twslee8 nomed an page 1, In the event ol Ih? C4>rnpany being wound up, the Ilabllity In reJpeGt of the guaianlee 5$ limlled to £1 p¢r member of I cornpany. The principal acliiity of the company is th• pmvision ot s¢xlal houjln A¢Muntlny pollclo4 11 8asls of prwrntlon of Ilnan¢lal ststsmonts Tho finandal stslem•nt8 have been prepared In acry)rd¥nce wllh Ihe Fln4ndal ReP￿Ing Standard phcoble in th8 UK and Republlc of Ireland (FRS 102) ond the Companles Act 2006 and comp wllh Ihe Accounting Dlre(lion for Pri¥aie Regisleied Provid•rs of Sodol Housing 2015, tho Slatomonl ot RKommended Prao*lce for S¢ci21 Housing Provid•rs (SORP) and Iho Houslng and Rogistralion Aci 2008. YMCA Bl•ck County Group h•• prnpar•d tho fin•nd•l atatsments In a¢¢ordance wth FRSIO2. The ConsoHd•ted stslernent Df financial acttvitFe$ (SOFA) and Consolldaled balance ¥heel consolldale Ihe finandjl slatements of the company arml it8 subsidl•ry undertaklng. The results of Iho •ubgldlory ir• ¢on8olldaled on a Ilne ty Ilne ba618. The company ha6 takon advantage ol Ihe exempllon allowed undor secllon 408 01 Ihe Companles Ad 2008 and ha8 nol prosonled Its Statfrment ol Ilnand81 adlvill In theso finonei•l $l•lemgnl$. 12 Twnov•r Tumover feprnsents f8nl and ¥eNl¢a charyes recelvable potss 11 wlll pay to ￿ttle the debt or the arnount it ha• rgMiv•d 91 ¥dvanc•d P8>ffn•nts for the goods or $er4lcg4 It musl PTovfde. Pmvislons are mgasurod at the bosl ejllmate of the arnounl8 r¢qulrod to settlo th? obllgallon. Whovv the effect of the 14rne value ol money15 material, Ihe provlslon is based on the present value of those arn¢)unts. dI$￿Unted at Ihe pre•lBx disL*unt fate thal rolleth the rf8k8 Sperific lo tho liability. Tho unwlnding ol Iho dlseount 59 rg0)9nlwl in lh• Consolldatod itatèmènl ol financlal acliviliei a• fiMnt* ¢ost. 2.14 FIMnd•l Instrnmgnts The Group only has financlal assets and Ilnandol Il•billlles of a ￿nd Ihat qu•Thfy as b8￿C finane4al instruments. Baslc flnandal inslrum8nt8 alè Inltlally rneA)gnlsed al Iransadion valu• and 8ubBequenlly measured al IhelT selllernont Vdlue wth Ihe exception of bank loan5 which are subsequenfty me8sured al amorfised ¢o¥l u$ing th8 thcttve Inlwp$l method. Page 42 YMCA BLACK COUNTRY GROUP IA company Ilmtted by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ounllng pouch• {¢onllnuad 2.16 So¢tsl Houslng grnnts ISHG) •nd oth•r grants Government grants are Tecwlsed as revènue when the gfanl pr￿eedS are received or receviable. Where a grant Imposes $peclfic fuiure perfomune£ felaled condrflons It Is recognlsed as rèvenuè wh8n the pfrrlormanefvrelaled condlltons are meL A grant received before Ihe r•venue recognblion crftsrla are 8atlsfted Is recoonl6ed a8 a Woblltty. Whore qowfflmenl qrant Is provldod for th• nslrulllon of houslng propertles with 8 8PgGIfiG $¢heme. Ihen the pwtsm1an￿ related rmdilion Lry mel when tho construrjion of the housing propprtles15 COff41lete. 2.16 P•n•bn• YMCA Black County Gioup partldpaled In Ihe Mum￿8Mpl￿ d&fin•d p•nslon phn for emWtyee8 of YMCAS in Englarxl, s&￿and and Wabs. whlth w8s doséd lo new mèmbers and 8￿r￿alS on 301h Aprfl 2(X)7. Duo lo Insuifidènt Informatlon, Ihe plan's aduary has 8Llvised th4111 1$ npl pp#lblo lo $ep•rale the Idenllfy the assets andl18bllil￿S rel8t¢d lo YMCA Bla¢k County Group. A5 deycdbed In nola 21. YMCA 8la¢k Country Gioup has a contractual oblSgalon lo make penslon dofictt poymenls 01 £21,215 pa ovw the perlod to Aprti 2027 {2023.' £24,504 pq lo Aprll 2029) accordlngly. th18 Is Shown as a Ilabllity In IheBo accounts. In •ddlllon, YMCA 81ack Counlry Group l• rfjqulrod to witrlbule £6,761 pa (2023: £S,804 pa) lo thè operatlny exponses ol the Pènslon PIAn and thoBe costs 410 chorged In Ihe Slalemenl of Comprehen8l¥e Income 8s mad8. Page 43 YMCA BLACK COUNTRY GROUP IA C￿npanY lifflited by guarants•l NOTES TO THE FINAIICIAL 8TATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng poll¢les (¢onUnuèdl 2.17 Fund a¢¢ountlng General fvnds are unrnstrlded ￿ndS whleh are avallable foi use al tho d￿CretIon of the Tn￿te¢S In furtherance of ihe oeneral objpdves of Ihe Group and which have be8n desrdnaled lor olhor purp05e8. D•si9naled lund• comprlJ• unrn¥trlcted fvndj thal hove b¢•n ••t i•ld• ty Iho Trustees for partleul•r purpo8e¥. Th• •nd u•e of •gch d?￿gnAted fund Is Ml out In th• not•8 10 th• financial statem¢nl$. Restrlcted fund$ are lunds whlth are to be used In acrA>rdancè wlth spedfie rèslrfcllons IMpo￿d ty donorn or whlch h•w been r•l$•d by the Group for porliGvlar purposèi. Th• cos1$ of ial8ln9 and admlnlslertng suc* fijnds arn charged agaIn￿ tho Bperjfic fvrKI, Th• alm and us• ol each re•trlcled lund Is sol out ITh the notes lo Ihe financlal slatements, Invoslmenl Incorno. glin$ and loss•$ ar• aifocated to the 8PPfOPrtale fijnd. 2.11 Glft p•ym•nts GLft 8tt1 pamen15 Are charged 88 dlslilbuuons of reserves In awdanco wlth Ihe guldance Induded In Ihe tnslltute of Ch•rt¢red AcI￿nIants tech11￿1 release'Guld•ntso on donatlgns by 8 company lo ts parent Gh8rltrf. 2.19 Ctltl¢•l accountlng •8llmats8 and ar•a6 of Judgmont E$timate8 and ludgments are ctX)tifiually evaluated and gm bayed on hlsloiical experienu And other IActors. Indudlng expoctolioni of fulure events that arn benev¥d lo be r••ryonobbe undei th* drcumslances. Cridcal accountlNd éstlmates and usumptions: The campany makes esllmates and assumptlon$ ¢oneAmlng the fulum. Th8 resufting accounllng ¢81irnal•s and assumptlons wlll. by definition, sèldom equal the r8lal8d adual rasults. In the opinbon of th¢ Tiu$log$ Ihero ar8 no e¥tlmate$ and asgumptions Ihol have 8 slpnfficath rlsk of causin9 a male￿1 adju51rnent lo the ¢4rryrfng amounts of a65ets and Ilablllllos wllhln the next fina￿la1 year. Pag¢ 44 YMCA BLACK COUNTRY GROUP (A ¢ompany IlmH•d by g￿rIntO￿l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Turnover. Operndng Costs •Trd Opemtlng Surplu• 2024 2Q24 Twnmr Opbi*ttng 2024 2913 1023 2fj23 Op#r•llnB Tur*v4•r Op•r*llng Op•r•ll Expbndilur• Ir¢xn lettlnBB Mmmodallon Qthir InG¢mo & £xp•nrfttur• Communityk15th 2,036A36 14.IB3.045) (2,146,501) 2.074,151 13.343.943) (1.289.792) Dona￿on* 64.101 64,1 $1 22,333 22.333 Oih•r In¢¢m• 307169 287,663 287fv53 s.•￿,?53 14J25A54) 1￿76399 5268.386 <4,064m7) 1.201 J7• Tot•1 ,29lhOg I,so• 209,ODO 7,642.623 17,397.950 244,573 Cth)p•ny 2024 2024 TwnD¥•r Oppi•tlry 20 202$ 2023 2923 Op•rAllrvJ T(rthmt Oper•llry Operatlng Dmllelt £ E#p•nB•s sur￿￿* Inc(¥n• & p•nthur• from tllnp £commod8llon other I￿orn• è(p•ndllur• CommunItyPd￿l Donattons Olh•i Inc•m• 3,3BOJ66 (2,752.4511 •l•hP9 3.019.404 12,575.719) 443.605 618.868 12h9• 1.636.12• {4,054,1581 (JNJS.888) 581.190 (3,227.878) 12,666.6861 12A99 16.850 16.856 2NJ6,121 2.425303 2,425203 Tol•1 11 6 106.612 2571161 6.022.653 5.803.595 219.058 Page 45 YMCA BLACK COUMTRY GROUP (A compary Ilmlted by 9uarnntr¢l NOTES TO THE FINANCIAL 8TATEMEMTS FOR THE YEAR ENDED 31 MARCH 2014 Turnov•r from l•ttlngJ Group Group Company Cornpany 2024 2023 2023 Income from lefflnp R¢nl r¢cetr￿￿e 4,719,U2 4,148.281 3,264782 2.917,174 Net Rent RO￿1¥4b1• Supportlng people- grar Supportèd h)dglnp 35.CQO 1ff2,230 115,173 116,173 102,230 Total In¢cffl• from lettin96 4,8TZ,516 4,285.511 3,JW,9155 3.019.404 Rent Logsu from ￿7 1,465,748 1.738.571 1,571,620 1.627.590 Page 46 YMCA BLACK COUNTRY GROUP (A ¢omp•ny Ilmlted by gu•rantrel MOTES TO THE FINANCIAL sfATEMEiirs FOR THE YEAR ENDED 31 MARCH 2024 Opernllng c09ts Group 2024 Group Compary Compwv 2023 2024 2023 People Relaled Prnmlse8 Rel•l¢d Office C0515 Di￿¢ ActI￿ty Costs othgr Direcl Expenses other Owalln9 (K•thoad R8ch•ry B4¢J Debt8 Bllnk ChHry Tr&•1 Cosls Pmgrammg Dollwry Solarf¢$ NIC Penslon D•pr¢d•llon 351.401 1,008,41• 1&611 338,46B 3,700 70,003 356,474 972,930 327,10S 797,789 50.161 153.078 3,700 309,428 782,8 26.382 61,406 205,1)52 436 116,022 39,082 1,231,076 1,229,278 81,0•2 67.759 79.904 11,062 3,834 JOJ,J49 1,855,112 111,403 31,989 69,203 87,810 6,911 4,819 288,853 1,788,049 103.895 24,2J8 59,283 60,908 3,914 1.241 2,827 3.862 1,231 7,125 Totsl Op•rnllng Caa• from L•llln98 4,32J,454 4,044,Otr1 1752N68 2,076.719 Other Opérntlng C4st• 4,183,04S 3,363,943 4.054.158 3.227,878 Tol•l Operntlng oo•t• 7 397 980 1805 812 0 803 5 Flnanc• In¢om• Group 2024 Group 2023 Company 2024 Company 2023 Bank lrterasl 7.127 io zoo 10 7,127 10 205 10 Page 47 YMCA BLACK COUNTRY OROUP IA ¢ornp4ny Ilmlt¢d by gu•fantee) NOTE3 TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2024 Int¢r•g1 payab Gmup 2024 Group Company Company 2023 2024 2023 Lo•n Int•r*s1 payab 298.631 184101 29&631 115.101 296,831 185101 296,631 185, 101 Np IntergBI was Cdpltalised In th? year (2023.. ÉN￿. Net theom•llExpondI￿1•l This15 6taied •ft¢r char9lng: 2024 2023 D•y•doll¢n of t8nglble fixed as8eti D•pTect•llon of hou8lng PfOP•rtIo1 Audltorg remynerntioft OpeTaOng le880 rentali 19.7 186.603 27,6DO 217,421 194,354 22,240 336,268 Durfng the year, no TN8t8es recelved any remuneratton or benefflts In klnd (2tr23." £NITJ. Duriftg Iho year. •xpenses lotalllng È131 were reimbur8•d lo l Tr￿te8 (2023.. £NII to O Tfuslees). Slaif costs Gffjup 2024 Gmup Comp•ny Company 2023 2024 2023 Wages and salarles Sod418ecurtty Lvst8 Conlrlbutlon to d￿ned contrbutkjn parnlon 1¢hom¢6 3,747.531 270,645 3.541,017 244871 1,963h14 163.166 1,811,811 145,857 79,S32 82,167 48.785 49.180 4.0•7,708 3,869,055 2.168.36S 2.006.828 Induded In the abov•, ar* £17.981 {2023'. £6.044) redunderry paymenls pakl oui to 3 emplo>Tes (2023.. 5 •mployee5). Page 48 YMCA 8LACK COUNTRY GROUP {A company Ilmlted by guarnntso) NOTE8 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 staff ¢o•ts16onUnu•d) The average number of pernons employed by the company durkng Ihe year was as hllows: Group 2024 Gmup 2023 A¥er•9e staff numborn 212 202 Thè number of employees vthofe emplo>w bonoffts (excludng employer p•ndon ￿Ce•d £60,000 was.. Group 2024 Gmup 2023 In tho band £80,001- llO.000 In th? band £70,001- £80.000 Dlr8raorn' and Senior ExecuNwg EmolumDntg Group io Gmup Company 2023 2024 Company 2023 Emolum¢nts Pan￿on ¢onlrlbullon8 239,083 1,808 255,759 30.215 70,660 1,763 &3,513 13,229 246.889 285.974 72,323 66, 742 The chlol exoiartfve 18 indudod In the YMCA P•nBlon S¢heme and 1$ an ordlnary memb8r ol the Stheme, No onhanced or special t¢rnis apply. During the period the trAal arnO￿t cofflrlbuted lo the In(fivKlual penslon ofrangemenl woj £1,763 (2023.. £13229). 10. Taxatlon Stats• YMCA &a¢k Counlry Gro￿ 58 a r3)mpany limtod by gLMf8ntw. a regljlered charty and18 r•gl$ter•d wlth Regulator ol Social H¢)uslng undeT the Houslng and Regenerauon A(X 2008. Th• Compsny ha6 ¢hgthabl8 8lalu$ fw tax Pu￿01•$ and no l￿bIllty lo corporation tax •rlMs. Page 49 YMCA 8LACK COUNTrY GROUP IA compAny Ilmltsd by guarant••> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PA4RCH 2024 11. Hou51ng Proporti•s Group •nd Comyny Houslng PMpertte$ Go At 1 Apdl 2023 Addillons 16A88,396 IJg6,410 Al 31 March 2024 18.284.806 Amortl•atton Al 1 P•rll 2023 Charge for Ihe ￿•T 1.260,838 q66.503 Al 31 Mirch 2024 1,417,341 N•t book vafu• Al 31 M•rch 2024 16,167h68 At 31 March 2023 15,637,558 Page SO YMCA BLACK COUNTRY GROUP IA ¢omp•ny limSted by gu8rant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Tanglbh fixed assets (3rgup le•s?hold propèrty and FI￿rn• •nd Offi¢• Comput•r Improvern•nts Illng• •qulpmofft oqulpment Tolal Cost or valuallon Al l April 2023 Addltbnj I,OS4h92 841820 91.628 114,829 38,440 1,900,818 28￿63 204,647 AI 31 MArdi 2024 1,13¢758 n4363 164,829 67.293 2,106,233 pr•clAlion Al 1 Apiil 2023 Chargo for tho ye•r 207.143 63A70 435,064 24,109 160,686 828.741 89.790 7,687 Al 31 Marth 2024 260,613 469,663 164,829 33.526 918.631 N•t l)0ok valu• Al 31 Maft* 2024 878.14S 274.790 33,767 1.116.702 Al 31 Ma￿￿ 2023 847,349 207,771 4.244 12,481 1,071,845 Poge 51 YMCA BLACK COUNTRY GROUP (A ¢ompiry Ilmlt•d by B￿rAntee? NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 Tanglble flxed a8•0ts {¢ontlnu¢dl Com￿ry l•a¥•hold FlxtW•8 and pMp•rty flttlThg• Computer •quipm8nt Totsl Cmt or ￿l￿atIon Al 1 Aprll 2023 Addl￿on$ 157.0 310,192 $7,662 31.246 21,853 648,493 86,405 At 31 M•rc** 21f24 167,036 417.744 60,IIB 834,899 D•pr•¢l•tion At 1 WI Z023 Chiip for lh• yo•r 10,836 5.187 12,487 22,280 1,267 304,303 23,417 Al 31 M•rdi 2024 22A99 277.674 27,547 327,72D Net book v•lu• Al 31 March 2024 134.537 140.070 32.571 307.178 Al 31 March 2023 140,200 94005 8.985 244. 199 13. 8t•¢ Group 2024 2023 Food for nurnw¢es 238 238 Page 52 YMCA BLACK COUIITRY GROUP (A eompany INnited by guaranteè) MOTES TO THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 klARCH 2024 14. D•btorn Gn>up 2024 Group Company Company 2023 2024 2023 Due whhln on• y•ar Tradè debtois Amounls owed by gfOUP undortakings Other debtors Pf•PayTnonts and accyutd 291,731 620,490 211,232 46,869 6.284 70.111 454.355 46.250 15.090 182,440 63,699 182.134 24293 202.931 527.568 848, 714 334.491 698. 141 Probl￿on5 for bad and doublfvl debts Included Sbovo lor group are £189,78912023'. £184,748). PfQVOlon8 for bad •nd doubfful debls Inclwled •bov• for th• eompony ar• £139.657 (2023: £139,506>. Rent 81rear8 induded within the obove lor thè group are £289,284 (2023: £581,987) and lor th• 8re £240,198 (2023.. £465.254). Crndltor•: *Jnounts f•lllnq du• wlthln on• y••r Grn￿P 2024 Gmup Comp•ny 2023 2024 Company 2023 B•nk loan• Trade tredllors Amounls owèd to group undertaklng$ Other taxatkon and 8oc4al securfty Olher uodllor• Aeup 2023 C&sh In hand 2,347,707 2.562,283 Tolal ¢•$h and ￿*b •qulval•nts 2,347.757 2,562,283 19. An•ly•h of chafig￿ In n•t d•bl. At 1 Aprll 2023 Cash flows At 31 Mar¢h 2024 C88h al bank ond In hand Debt due withln 1 year Debt due after 1 year 2.662,283 1214,6261 2,347,767 1121,4091 1133,1021 1254611} 14,388.7501 19B7.112) {5,376.562) 11,947,876> (1,336.440) 13.28J,316) Page 55 YMCA 8LACK COUNTRY GROUP IA company Ilndtsd by guarnnteel NOTES TO The FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 20. Capltsl commltrnents Group 2024 Gmup Company 2023 2024 Company 2023 Contracted lor but not pr•vld?d In th•s• financlal Btatsmgnts A¢quigkn oftAngiblo fLKed assets 1.258.000 1,258,000 21. P•Mlon eommilm•nts D•ffin•d Contrlbuloon Sehemo Th8 GMup opèrates • defined ￿ntrIbutionS pension scheme. The assets of the Btheme are hehj sepaiately fiom thos• ol the Group In an Indyndonlly adrninlsleièd fund. Tho pengion cosl charyo repr•s•nts conlrlbulions Poy•ble by lh• Group to th• fvnd and afflounled to £79.531 (2023.. £82,16n. D•fin•d Ben•llt S¢hem• YMCA Blfjd( C¢wnlry Group porticlp8led In a conlrlbulory p8n8lon ￿9n provldlng defined beneffts based on ffinal pensIonab￿ pay for ernploye•s In YMCA$ in Enuland, SG¢)Iland and WalÈ$. The aB58ts of lh8 YMCA P•n8lon Plan are hild separoltly from Iho8e ol YMCA Black County Group and al the end pf tho yoar Ih•so were Invested In MerG•r Dyn•ml¢ D¢.rl8kwig Solution, 65% malchlng portlolio gnd 3516 In the grov*lh portlollo ol Schrod¢r (property unllG only). Tho most recent c(xmpletod thra8 yoar valuauon was at 1st May 202& The 85$umptlon$ uBed *fil¢h ha tho most 51gnificanl effect the ie8ull$ Of tho valuation are Ihose ￿￿tIng lo the assumed rnles of relum on a88811 014.58VA. th• Incroasp in ponslons In p8ym8nl of 3.18•A {for RPI capped al 5% p8). and the aveiagè lffa exped8ney from nornial rètiremént age (of 65) for a current male pen81oner of 21.5 yoars, female 24.0 year8 and 23.1 years for a male p•n$loner, femal• 25.7 yea￿, retlrlng In 20 years t¢me. Th& resuil oflhe valuallon shtswed Ihal thè 8cluarial value of Iho asse1$ wa8 £103.1m. which represenlefl 92% of Ihe benth that had a¢xNed to membern. The Pension Plan was rjosed to new membor5 ond ￿turn Mr¥ico amal wlth effed from 30 April 2007. W41h Ihe removal of tho 6alary Ilnko9• for b•ngfft1 #ll •mploy•d deferr•d m•mb•rs b•came def•rf mernb•r5 * Irom 1 May 2011. The valualk)n prepared as at 1 May 2023 Showed IhBI 1he penslon plan had a defldl of £9.1 milllon. YMCA Black County Group ha6 been adviwd thal il need lo make monlhty contributions of £1,787 from 1st of May 2024. This amount Is based un the current actuartal assumptlons (as oullned al)ove) and rnay v•ry In Ihe fulure as a result ol adual performanco of the pension plan. Agreed fLrture deficil ¢onlribubpn8 have discounted rale of 0% (2023 3•/0) The currenl re￿Wery period L8 three year8, eommendng 1 May 2024. P8ge 58 YMCA BLACK GOUNTRY GROUP IA ¢omp•ny Ilmfted by guarnnl•e) NOTES TO ThE FINANCWL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 R•con¢lllatlon of op•nlng and elo8lno pml8lon 2024 Prthlslon •1 the 818rt of lh• y•ar dt ￿trIb[rtIon p•ld 79.271 (Z4,0041 (248a6) Op•rnllng I•4￿ ¢ommMm¢nts At 31 March 2024 ttie Group and the company eommlifftonts to make fvture minrmum lea88 payments ur*Jer nonrfancellable operallng lewes as followffj: Grotsp 2024 Gmup Cofflpany 2023 2024 Comp•ny 2023 Not l•ler Ihon 1 yogr Later than l year and nol lthi than 5 y••r• Latèr th•n S years 389.655 1,151.692 1,000,588 287.421 210,925 341. 713 194.916 406.819 31,000 118,788 109,725 31,500 2.601.933 840,059 631.734 260.013 Th& follo￿n9 lease p8yTh¢nts ha￿ been rn¢0gnlsed as an •xpen8e In the Slatemenl of financlal Group 2024 Gmup 2023 Company 2024 Compbny 2023 Operating le¥$fr fentals 217821 336.268 118.788 209,66 P•go 57 YMCA BLACK COUNTRY GROUP ¢ompary Ilmit•d by gu•r•ntee) NOTE3 TO THE FINANCIAL 8TATEMENfd FOR THE YEAR ENDED 31 IAARCH 2024 R•lated party tran••¢dons YMCA Black Country Group whleh18 lo￿81ered In England @nd Wal08 Is Ihe ulUmat• par•nl undertakln9 of: YMCA Wolv8thampton- a ¢ornpany fimlted by gu•renlee re9[￿ered chértty In Enjiand and Wales. YMCA Walsall {PrevTrou5ty tsading 8$ Flrsl Bast Wal6alO - a compary fjmited by guarenloe and a rnglstered charty #i Enpland end WAles. Non¢ fil• regltstsred wllh lh• Regulator of Sodal Houslng. Trnnga¢tlong wllh Nona•gul•tod Sub•ldl•rf•• 2024 2023 Renlal Expondltur• YMCA Wolwrfwmpton YMCA Walsall 33,000 38,100 M•n•g•m•nt Ch•r8• In¢om• YMCA Wol4Brharnpt( YMCA Walsall 378,623 86,035 359,957 87,fX87 RenlBI Incomo YMCA Wol¥fth•mpl YMCA Walsall 169,800 86.000 146.800 85.000 Pr•mlq•• R•lat•d In¢•m• YMCA WoNerfwmpt YMCA Walso11 47.183 50.120 Page 58