YMCA South Devon (A company limited by guarantee)
Annual Report and Financial Statements Year Ended 31 August 2020 Company Registration Number: 04183050 Charity Registration Number: 1086783
YMCA South Devon
Contents
| Contents | Page |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Report | 2 to 4 |
| Independent Examiner’s Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 18 |
YMCA South Devon
Trustees Report for the Year Ended 31 August 2020
| Charity name | YMCA South Devon |
|---|---|
| Charity registration number | 1086783 |
| Company registration number | 04183050 |
| Principal office | Dartmouth Road |
| Paignton | |
| Devon | |
| TQ4 6NX | |
| Registered office | Dartmouth Road |
| Paignton | |
| Devon | |
| TQ4 6NX | |
| Trustees | J Inett |
| P Stapleton (resigned 20 July 2020) | |
| G Deighton | |
| R Murch | |
| M Goodwin | |
| A Elliot | |
| Secretary and Chief Executive | M Goodwin |
| Solicitors | Boyce Hatton |
| 58 The Terrace | |
| Torquay | |
| Devon | |
| TQ1 1DE | |
| Bankers | HSBC PLC |
| 7 Palace Avenue | |
| Paignton | |
| Devon | |
| TQ3 3ED | |
| Accountants | Francis Clark LLP |
| Sigma House | |
| Oak View Close | |
| Torquay | |
| Devon | |
| TQ2 7FF |
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YMCA South Devon
Trustees Report for the Year Ended 31 August 2020
TRUSTEES' REPORT
FOR THE PERIOD ENDED 31 AUGUST 2020
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of YMCA South Devon (the company) for the ended 31 August 2020. The legal and administrative information set out on page one forms part of this report. The Trustees confirm that the Annual report and financial statements of the company comply with the current statutory requirements, Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities 2005. The accounts have been prepared in accordance with the special provisions of the Companies Act 1985 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2005).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustees are elected to the board at the annual general meeting. All trustees have to be a full member of the association. The board has the power to co-opt someone to the board in between annual meetings, but that person must either step down or be fully elected at the following AGM. Only full members are able to vote and there must be at least 5 full members present to form a quorum.
The Board of Trustees of up to 15 members who meet at least quarterly administers the charity. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity.
It is the policy of YMCA South Devon not to unduly put any of its financial assets, staff or operations at risk. Internal risks are minimised by the implementation of procedures of policies for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operation aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
OBJECTIVES AND ACTIVITIES
In setting objectives and planning activities for the year the trustees have had due regard to the Charity Commission’s guidance on public benefit.
YMCA South Devon is a charity and is a Christian based association, which seeks to lead young people to Lord Jesus Christ and fullness of life in Him.
The objects include:
-
To provide or assist in the provision, in the interest of social welfare, of facilities for recreation and other leisure time occupation for men and women, with the object of improving their conditions of life.
-
To provide or assist in the provision of education for persons of all ages with the object of developing their physical, mental and spiritual capacities.
-
To relieve or assist in the relief of persons of all ages who are in conditions of need, hardship or distress by reason of their social, physical or economic circumstances.
To this end YMCA South Devon seeks to meet the needs of children and young people in the South Devon area in the delivery of quality, efficient, effective and economic programmes.
In order to achieve this objective, the charity offers a number of programmes and projects tailored to the diverse needs of the community and to give public benefit to that community. This year we have purchased the land we occupy, from Torbay Council, and will begin to plan for a more sustainable future with the opportunities that brings.
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YMCA South Devon
Trustees Report for the Year Ended 31 August 2020
Our main programmes for the public benefit are ‘Fit for Life’ aimed at children and young people needing an alternative approach to education, based on meeting their social and emotional needs and our ‘Muddy Wellies’ Nursery for 6 months-4 year olds.
Fit for Life provides an alternative approach to education for young people who have fallen out of the traditional education system. We work in one to one situations with children and young people that are referred to us by the local authority or their school. By working one to one, we can build relationships with these vulnerable children and young people to address their personal, social and emotional needs and also to work towards enabling their education with us, with a view to them returning to mainstream education as soon as is practicably possible. This enriches young people’s lives who otherwise may well be completely out of the education system and unsupervised during the school day, placing them at unnecessary risk. The wider community also benefits as young people become a constructive part of their community.
Our purpose built nursery has the use of our amazing outdoor space of gardens, woodlands and playground to encourage physical activity and exploration of the environment around us. Our children spend time all together but are also separated into age groups for their targeted learning, the majority of Early Years learning is done through play, even when they are preparing for entry to compulsory education.
We began our inter-generational project this year and began taking some of our 3-year olds to visit a local Nursing Home, this worked really well and both the children and the residents gained greatly form the experience. Some of the elderly residents joined our nursery children for Christmas dinner and the children entertained them afterwards by singing some of their Christmas songs, there is much academic research listing the benefits to both age groups through having regular interaction.
This year has thrown many challenges our way due to the pandemic, we remained open throughout the lockdown to provide daily care for our vulnerable children and those of our key workers, we also kept in contact with our other families and were delighted to welcome them back in September. All our staff are qualified and provide care in line with OFSTED and the Local Authority legislation.
SHOPS
Due to the pandemic, our shops have faced hard times, however thy have continued to trade when they could and we continue to be grateful for their hard work and the percentage of shop profits that we receive, all of which goes directly to supporting the work we do.
COMMUNITY INVOLVEMENT
Unfortunately, the majority of our community activities have been forced to close for much of this year, due to the pandemic. We are really hopeful that this is something we can build back up once it is safe to do so and we look forward to welcoming back our Baby & Toddler Group, our netball teams, tai-chi, archery, ASrUS youth group and basket ballers.
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
FINANCIAL REVIEW
Having considered the fluctuating nature of our work and the fact that many of the organisations who pay for our services are themselves under considerable financial pressure, the YMCA aims to hold reserves amounting to approximately three months’ average expenditure. This equates to a reserve of around £60,000 however due to the pressures we have faced in the last couple of years, we have worked hard to increase our unrestricted funds which at the end of the period stands at £40,042.
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YMCA South Devon
Trustees Report for the Year Ended 31 August 2020
Since the period end, we have been working hard to build on our programme to ensure greater profitability so that we can meet our costs and begin to build our reserves.
The gross incoming resources for the period were £498,965 and the net outgoing resources expended were £485,163. This leaves a movement in funds of £13,802. Total funds at 31 August 2020 were £70,042.
The period has seen some stability following what has been a very challenging year, we hope to build on this and expand our current services to offer an improved service for the community we serve.
The Chief Executive is working hard at identifying other ways we can grow and achieve sustainability, looking at how we can best serve our local community for the future years to come. The strategy continues to include pursuing funding sources for new projects that meet our overall objectives and raising awareness of the work we currently do.
PLANS FOR THE FUTURE
We will begin a fundraising programme to secure funds to build a new YMCA, as we have long outgrown our existing building and the repairs needed to patch it up are becoming more difficult to achieve and a financial burden, causing us to redirect money that could otherwise be spent on providing services.
The coming year we continue to offer our core youth services – Fit for Life. The need for this type of provision within our community is growing each year, it is our intention to improve and develop so that we can continue to offer this service. We will also look to expand upon our offer of academically educational sessions, to assist with the transition back into mainstream school, for those that would be appropriate for. We are now able to offer our children and young people sessions with a fully qualified counsellor, in the newly refurbished counselling room.
The nursery will continue to offer high quality childcare for local families, and we will endeavour to publicise this more widely to attract larger numbers of children and will continue to grow on the successes already achieved. When it is safe to do so, we will reconnect with the local Nursing Home, to continue our inter-generational work with its residents and our nursery children.
The plan for the coming year is to continue to offer the services we already do, with a view to widening our offer to support more families. We will also concentrate on seeking funding for our new build, which will allow us the opportunity to provide more modern facilities for the children and young people that attend our services, as well as the wider community.
Small company provisions
This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.
Approved by the Board and signed on its behalf by:
J Inett Trustee Date:
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YMCA South Devon
Independent Examiner’s Report to the Trustees of YMCA South Devon
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.
Independent examiner's statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Martin Hobbs ACA Francis Clark LLP Sigma House Oak View Close Torquay TQ2 7FF
Date:
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YMCA South Devon
Statement of Financial Activities (including Income and Expenditure Account)
Year Ended 31 August 2020
| Year Ended 31 August 2020 | |||||
|---|---|---|---|---|---|
| Total | Total | ||||
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2020 | 2019 | ||
| Note | £ | £ | £ | £ | |
| Income from: | |||||
| Donations and legacies | 2 | 45,921 | 17,591 | 63,512 | 60,484 |
| Other trading activities | 3 | 13,903 | - | 13,903 | 10,378 |
| Charitable activities | 4 | 421,550 | - | 421,550 | 554,952 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total | 481,374 | 17,591 | 498,965 | 625,814 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Expenditure on: | |||||
| Raising funds | 5 | 7,784 | - | 7,784 | 9,157 |
| Charitable activities | 5 | 411,406 | 24,691 | 436,097 | 519,892 |
| Support costs | 5 | 41,282 | - | 41,282 | 22,967 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total | 460,472 | 24,691 | 485,163 | 552,016 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 20,902 | (7,100) | 13,802 | 73,798 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 19,140 | 37,100 | 56,240 | (17,558) | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 40,042 | 30,000 | 70,042 | 56,240 | |
| ================================ | ================================ | ================================ | ================================ |
The notes on pages 9 to 19 form an integral part of these financial statements.
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YMCA South Devon
Balance Sheet
31 August 2020
| 31 August 2020 | |||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 10 | 109,993 | 108,501 | ||
| Current assets | |||||
| Stocks | - | 50 | |||
| Debtors | 11 | 8,319 | 20,334 | ||
| Cash at bank and in hand | 139,896 | 75,512 | |||
| ------------------------------- | ------------------------------ | ||||
| 148,215 | 95,896 | ||||
| Liabilities | |||||
| Creditors: Amounts falling due | |||||
| within one year | 12 | (30,539) | (42,857) | ||
| -------------------------------- | -------------------------------- | ||||
| Net current assets | 117,676 | 53,039 | |||
| -------------------------------- | -------------------------------- | ||||
| Total assets less current liabilities | 227,669 | 161,540 | |||
| Creditors: Amounts falling due after | |||||
| more than one year | 13 | (157,627) | (105,300) | ||
| -------------------------------- | ------------------------------- | ||||
| Total net assets | 70,042 | 56,240 | |||
| ================================ | ================================ | ||||
| The funds of the charity: | 17 | ||||
| Restricted funds | 30,000 | 37,100 | |||
| Unrestricted funds | 40,042 | 19,140 | |||
| -------------------------------- | -------------------------------- | ||||
| Total charity funds | 70,042 | 56,240 | |||
| ================================ | ================================ |
For the financial year ended 31 August 2020, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board on ………………………… and signed on its behalf by:
J Inett Trustee
(Registration number: 04183050)
The notes on pages 9 to 19 form an integral part of these financial statements.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
YMCA South Devon meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees have reviewed the future prospects of the charity and produced cashflow projections up to 31 August 2021 which take into account proposed cost saving mechanisms introduced since 31 August 2020. On the basis of the projections, the trustees are confident that the company will continue to operate as a going concern for the foreseeable future.
Fund accounting policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.
Further details of each fund are disclosed in note 17.
Incoming resources
Voluntary income including donations and grants that provide core funding or are of a general nature is recognised where there is entitlement, receipt is probable, and the amount can be measured with sufficient reliability.
Shop income and income derived from events is recognised as earned (that is, as the related goods or services are provided).
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
Resources expended
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Fixed assets
Individual fixed assets are capitalised and recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Long-term leasehold property - 2% of cost Property improvements - 10% of cost Camping equipment - 33% straight line Motor vehicles - 25% reducing balance Furniture and equipment - 15% reducing balance
Stock
Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow-moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Items donated for resale or distribution are not included in the financial statements until they are sold or distributed.
Operating leases
Rentals payable under operating leases are charged in the statement of financial activities on a straightline basis over the lease term.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
1. Accounting Policies (continued)
Pensions
The charity participates in a defined contribution scheme. In accordance with SORP (FRS102) contributions to the scheme are charged to the Statement of Financial Activities as they fall due.
YMCA South Devon also participated in a multi-employer defined benefit pension plan for employees of YMCAs in England, Scotland and Wales, which was closed to new members and accruals on 30 April 2007. Due to insufficient information, the plan's actuary has advised that it is not possible to separately identify the assets and liabilities relating to YMCA South Devon.
As described in note 19 YMCA South Devon has a contractual obligation to make pension deficit payments of £16,475 pa over the period to April 2027, accordingly this is shown as a liability in notes 12 and 13 to these accounts. In addition, YMCA South Devon is required to contribute £3,596 pa to the operating expenses of the Pension Plan and these costs are charged to the Statement of Financial Activities as made.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no critical estimates or judgements that the Trustees have made in the process of applying the accounting policies.
Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
2. Donations and legacies
| Total | Total | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Donations and legacies | |||||
| Appeals and donations | 3,591 | - | 3,591 | 4,554 | |
| Grants | |||||
| Grants receivable | 42,330 | 17,591 | 59,921 | 55,930 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 45,921 | 17,591 | 63,512 | 60,484 | ||
| ================================ | ================================ | ================================ | ================================ | ||
| 3. | Other Trading Activities | ||||
| Total | Total | ||||
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Fundraising | 2,916 | - | 2,916 | 2,009 | |
| Charity shops (share) | 3,837 | - | 3,837 | (2,255) | |
| Rent and service charges received | 7,150 | - | 7,150 | 10,624 | |
| -------------------------------- | -------------------------------- | -------------------------------- | ------------------------------- | ||
| 13,903 | - | 13,903 | 10,378 | ||
| ================================ | ================================ | ================================ | ================================ | ||
| 4. | Incoming resources from charitable activities | ||||
| Total | Total | ||||
| Unrestricted | Restricted | Funds | Funds | ||
| Funds | Funds | 2020 | 2019 | ||
| £ | £ | £ | £ | ||
| Schools work | |||||
| After School Clubs, Holiday Activities & | |||||
| Nursery | 160,928 | - | 160,928 | 177,854 | |
| Intervention Youth Work | 259,195 | - | 259,195 | 358,475 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 420,123 | 420,123 | 536,329 | |||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| After School Clubs & Holiday Activities | |||||
| After School Clubs, Holiday Activities & | |||||
| Nursery | 1,427 | - | 1,427 | 18,623 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 421,550 | - | 421,550 | 554,952 | ||
| ================================ | ================================ | ================================ | ================================ |
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
5. Total resources expended
| 2020 | 2019 | |
|---|---|---|
| Total | Total | |
| £ | £ | |
| Direct costs | ||
| Raising funds: | ||
| Fundraising costs | 7,784 | 9,157 |
| Charitable activities: | ||
| Cost of goods sold | 7,919 | 15,403 |
| Employment costs – care | 294,093 | 358,032 |
| Employment costs - administration | 57,213 | 61,182 |
| Establishment costs | 17,898 | 18,328 |
| Repairs and maintenance | 5,794 | 3,778 |
| Office expenses | 7,494 | 5,838 |
| Printing, posting and stationery | 4,434 | 5,099 |
| Equipment hire | 8,541 | 5,186 |
| Sundry and other costs | 4,957 | 6,088 |
| Cleaning | 1,767 | 3,518 |
| Motor expenses | 9,611 | 18,756 |
| Travel and subsistence | - | 14 |
| Advertising and promotion | 2,445 | 3,669 |
| Accountancy and legal fees | 3,419 | 3,324 |
| Bank charges | 236 | 377 |
| Legal and professional costs | 2,252 | 1,200 |
| Depreciation of tangible fixed assets | 8,024 | 9,475 |
| Loss on disposal of fixed assets | - | 625 |
| ----------------------------------- | ------------------------------ | |
| 443,881 | 529,049 | |
| Support costs | ||
| Employment costs | 41,282 | 22,967 |
| -------------------------------- | -------------------------------- | |
| 485,163 | 552,016 | |
| ================================ | ================================ |
Expenditure for the year includes £24,691 (2019: £8,425) in respect of restricted funds and £460,472 (2019: £543,591) in respect of unrestricted funds.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
6. Trustees' remuneration and expenses
One trustee is also an employee of the charity and received remuneration of £35,000 (2019 £35,000) in respect of this employment during the year. None of the trustees received any remuneration in respect of their roles as trustees or reimbursement of expenses during the year.
The charity has taken out a policy for Charity Trustees Indemnity Insurance. The cost during the year ended 31 August 2020 was £1,001 (2019: £732).
7. Net expenditure
| Net expenditure is stated after charging: | 2020 | 2019 |
|---|---|---|
| £ | £ | |
| Loss on disposal of tangible fixed assets | - | 625 |
| Depreciation of tangible fixed assets | 8,024 | 9,475 |
| ================================ | ================================ |
8. Employee’s remuneration
The average number of persons employed by the charity (including trustees) during the year, analysed by category, was as follows:
| 2020 | 2019 | |
|---|---|---|
| No. | No. | |
| Youth activities | 21 | 29 |
| Administrative activities | 3 | 3 |
| Management activities | 4 | 4 |
| -------------------------------- | -------------------------------- | |
| 28 | 36 | |
| ================================ | ================================ | |
| The aggregate payroll costs of these persons were as follows: | ||
| 2020 | 2019 | |
| £ | £ | |
| Wages and salaries | 343,520 | 411,458 |
| Other pension costs | 41,282 | 22,967 |
| -------------------------------- | -------------------------------- | |
| 384,802 | 434,425 | |
| ================================ | ================================ |
No employees received benefits of more than £60,000.
The total employee benefits of the key management personnel of the charity were £96,000 (2019: £107,054).
9. Taxation
The company is a registered charity and is, therefore, exempt from direct taxation.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
10. Tangible fixed assets
| Leasehold | Plant and | ||||
|---|---|---|---|---|---|
| and other | machinery | ||||
| interests in | including | Fixtures, | |||
| land and | motor | fittings and | |||
| buildings | vehicles | equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| As at 1 September 2019 | 195,542 | 7,190 | 71,403 | 274,135 | |
| Additions | 8,655 | - | 861 | 9,516 | |
| Transfers | 1,102 | - | (1,102) | - | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| As at 31 August 2020 | 205,299 | 7,190 | 71,162 | 283,651 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Depreciation | |||||
| As at 1 September 2019 | 111,140 | 3,625 | 50,869 | 165,634 | |
| Elimination on disposals | - | - | - | - | |
| Charge for the year | 4,089 | 891 | 3,044 | 8,024 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| As at 31 August 2020 | 115,229 | 4,516 | 53,913 | 173,658 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net book value | |||||
| As at 31 August 2020 | 90,069 | 2,674 | 17,250 | 109,993 | |
| ================================ | ================================ | ================================ | ================================ | ||
| As at 31 August 2019 | 84,402 | 3,565 | 20,534 | 108,501 | |
| ================================ | ================================ | ================================ | ================================ | ||
| 11. | Debtors | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Trade debtors | 1,616 | 919 | |||
| Other debtors | - | 4,000 | |||
| Prepayments and accrued income | 6,703 | 15,415 | |||
| -------------------------------- | -------------------------------- | ||||
| 8,319 | 20,334 | ||||
| ================================ | ================================ | ||||
| 12. | Creditors: Amounts falling due within one year | ||||
| 2020 | 2019 | ||||
| £ | £ | ||||
| Trade creditors | 588 | 613 | |||
| Taxation and social security | 5,048 | 5,458 | |||
| Other creditors | 6,428 | 10,791 | |||
| Accruals and deferred income | 2,000 | 10,000 | |||
| Agreed additional pension contributions | 16,475 | 15,995 | |||
| -------------------------------- | ------------------------------- | ||||
| 30,539 | 42,857 | ||||
| ================================ | ================================ |
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
13. Creditors: Amounts falling due after more than one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Agreed additional pension contributions | 108,460 | 105,300 |
| Other creditors | 49,167 | - |
| -------------------------------- | -------------------------------- | |
| 157,627 | 105,300 | |
| ================================ | ================================ |
14. Members’ liability
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
15. Operating lease commitments
As at 31 August 2020 the charity had total commitments under non-cancellable operating leases as follows:
Operating leases which expire:
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Within five years | 41,907 | 14,146 |
| ================================ | ================================ |
16. Related parties
Controlling entity
The charity is controlled by the trustees who are all directors of the company.
There were no related party transactions during the year.
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
17. Analysis of funds
| Current year: | At 1 | At 31 | ||
|---|---|---|---|---|
| September | Incoming | Resources | August | |
| 2019 | resources | expended | 2020 | |
| £ | £ | £ | £ | |
| General Funds | ||||
| Unrestricted income fund | 19,140 | 481,374 | (460,472) | 40,042 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| Restricted Funds | ||||
| IT fund | 613 | - | (173) | 440 |
| Kitchen fund | 1,440 | - | (748) | 692 |
| Big Lottery | 36 | - | (36) | - |
| Awards for all | 5,742 | - | (2,871) | 2,871 |
| Trusthouse refurbishment | 5,772 | - | (2,886) | 2,886 |
| Devon IT | 2,051 | - | (534) | 1,517 |
| Nursery fund | 21,446 | - | (371) | 21,075 |
| Devon Community Fund | - | 5,000 | (5,000) | - |
| Torbay Council | - | 11,591 | (11,591) | - |
| South West Trust Fund | - | 1,000 | (481) | 519 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 37,100 | 17,591 | (24,691) | 30,000 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| Total | 56,240 | 498,965 | (485,163) | 70,042 |
| ================================ | ================================ | ================================ | ================================ | |
| Previous year: | At 1 | At 31 | ||
| September | Incoming | Resources | August | |
| 2018 | resources | expended | 2019 | |
| £ | £ | £ | £ | |
| General Funds | ||||
| Unrestricted income fund | (62,583) | 625,314 | (543,591) | 19,140 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| Restricted Funds | ||||
| IT fund | 721 | - | (108) | 613 |
| Kitchen fund | 2,188 | - | (748) | 1,440 |
| Big Lottery | 816 | - | (780) | 36 |
| Awards for all | 6,255 | 500 | (1,013) | 5,742 |
| Trusthouse refurbishment | 7,229 | - | (1,457) | 5,772 |
| Devon IT | 2,585 | - | (534) | 2,051 |
| Nursery fund | 25,231 | - | (3,785) | 21,446 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 45,025 | 500 | (8,425) | 37,100 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| Total | (17,558) | 625,814 | (552,016) | 56,240 |
| ================================ | ================================ | ================================ | ================================ |
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
17. Analysis of funds (continued)
Restricted Funds
Capital grants: Kitchen
Capital grants were received for the purchase and installation of a new kitchen at the Centre. The fund represents the Net Book Value of the assets purchases with the grant.
Capital grants: IT equipment
Capital grants were received during the period for the purchase of IT equipment. The fund represents the Net Book Value of the assets purchased with the grant.
Reaching Communities- Big Lottery
Income was received towards Fit for Life Youth project.
Awards for All
Income was received towards the replacement of the boiler.
Trusthouse refurbishment
Income was received towards the refurbishment of the property.
Devon IT
Income was received towards the purchase of new IT equipment.
Nursery Development
Income was received towards the development of the nursery.
Devon Community Fund
Income was received towards the help of Coronavirus.
Torbay Council
Income was received towards supporting practitioners and Special Education Needs Co-ordinators working with children with special education needs and/or disabilities in early years settings in Torbay.
South West Trust Fund
Income was received towards the help of HR training and the purchase of computer equipment.
18. Net assets by fund
| Net assets by fund | ||||
|---|---|---|---|---|
| Net Current | ||||
| Tangible | Assets/ | Long Term | ||
| Fixed Assets | (Liabilities) | Liabilities | Total | |
| £ | £ | £ | £ | |
| Restricted Funds: | ||||
| IT fund | 440 | - | - | 440 |
| Kitchen fund | 692 | - | - | 692 |
| Awards for all | 2,871 | - | - | 2,871 |
| Trusthouse refurbishment | 2,886 | - | - | 2,886 |
| Devon IT | 1,517 | - | - | 1,517 |
| Nursery fund | 21,075 | - | - | 21,075 |
| South West Trust Fund | - | 519 | - | 519 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 29,481 | 519 | - | 30,000 | |
| Unrestricted fund | 80,512 | 117,157 | (157,627) | 40,042 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 109,993 | 117,676 | (157,627) | 70,042 | |
| ================================ | ================================ | ================================ | ================================ |
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YMCA South Devon
Notes to the Financial Statements
Year Ended 31 August 2020
19. Pensions
Defined Contribution Scheme
During the year ended 31 August 2020, the charity made payments towards its defined contribution scheme.
YMCA Pension Plan
YMCA South Devon participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of YMCA South Devon and at the year end these were invested in the Mercer Dynamic De-risking Solution, 40% matching portfolio and 60% in the growth portfolio and Schroder (property units only).
The most recent completed three year valuation was as at 1 May 2019. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets held before and after retirement of 3.75% and 2.25% respectively, the increase in pensions in payment of 3.35%, (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 22.2 years, female 24.1 years, and 24.0 years for a male pensioner, female 26.0 years, retiring in 20 years time. The result of the valuation showed that the actuarial value of the assets was £141.2m. This represented 81% of the benefits that had accrued to members.
The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits all employed deferred members became deferred members as from 1 May 2011.
The valuation prepared as at 1 May 2019 showed that the YMCA Pension Plan had a deficit of £33.6 million. YMCA South Devon has been advised that it will need to make monthly contributions of £1,295 from 1 May 2020. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. The current recovery period is 12 years commencing 1st May 2015.
Within One year £ As at 31 August 2020 16,475 ================================ As at 31 August 2019 15,995 ================================ |
Repayable One to two years £ Two to five years £ After five years £ After more than one year £ Total 2020 £ Total 2019 £ 16,475 65,901 26,084 108,460 124,935 ================================ ================================ ================================ ================================ ================================ 15,995 63,980 25,325 105,300 121,295 ================================ ================================ ================================ ================================ ================================ |
|---|---|
| One to two years £ Two to five years £ After five years £ 16,475 65,901 26,084 ================================ ================================ ================================ 15,995 63,980 25,325 ================================ ================================ ================================ |
In addition, YMCA South Devon may have over time liabilities in the event of the non-payment by other participating YMCAs of their share of the YMCA Pension Plan’s deficit. It is not possible currently to quantify the potential amount that YMCA South Devon may be called upon to pay in the future.
During the year ended 31 August 2020, the charity made payments towards the deficit and administration costs of £14,133 (2019: £18,409).
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