Yn¢A YMCA South Devon (A company limited by guarantee) Company Registration Number: 04183050 Charity Registration Number: 1086783 Annual report and Financial Statements for the Year Ended 31 August 2024
YMCASouth Devon Contents Contents Page Relerence and Adminlstratlve Details Trustees. Report Independent Examiners Report 10 Statement of Flnancial Actlvltles 11 Balance Sheet 12 Ca8hflow statement 13 Notes to tho Financlal Statements 14-24
YMCA South Devon Reference and Administrative Details Charlty Name YMCA South Devon Charity Reglstration Number 1086783 Company Registration Number 04183050 Principal Office Dartmouth Road Paignton Devon TQ4 6NX Registered Office Dartmouth Road Paignton Devon TQ4 6NX Trustees Wendy Thomas- Chair of the board Trustees Tanya Alford-Howard ( appointed 2015124) James Devonport Maria Goodwin Rachel Murch Johanna Morrell (resigned 2171241 Patric Stapleton Nicholetta Holmes (resigned December 2023) Clare Talbot Alison McSparron-Edwards David Gledhill Directors WendyThom8s (appointed 1212124) Tanya Alford-Howard ( appointed 20151241 James Devonport Rachel Murch Johanna Morrell (resigned 2n124) Patric Stapleton ALison McSp8rron-Edw8rds David GLedhill Company Secretary and Chlef Executive Maria Goodwin Bankers HSBC PLC 7 Palace Avenue Paignton TQ3 3ED Accountants lan Barrett Barretts Chartered Accounts and Chartered Tax Advisers 22 Union Street Newton Abbot TQ12 2JS
YMCA South Devon Trustees, Report for the year ended 31 August 2024 The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their annual report together with the financial statements of YMCA South Devon (the company) forthe year ended 31 August 2024. The legal and administrative information set out on page one forms part of this report. The trustees have adopted the provisions of 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 UK8nd Republic of Ireland {FRS 102) (effective 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Trustees are elected to the board at the annual general meeting. AIL trustees have to be 8 full member of the association. The board has the powerto co-opt someone to the board in between Annual meetings. but that person must either step down or be fully elected atthe followlngAGM. Only full members are able to vote and there must be at least five full members present to form 8 quorum. The Board of Trustees of up to flfteen members, who meet at Le8St quarterly, administers the charity. A Chief Executive Is appointed by the Trustees to man8ge the day-to-d8y 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 authorisstion 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. OVERALL MISSION OFTHE YMCA MOVEMENT The overall mission of the YMCA movement is to supportyoung people to improve their life conditions by: educating and inspiring them to fulfil their potentlal supporting those who are vuLnerable and in need providing leisure and other recreational activities YMCASOUTH DEVON'SAMBITIONSANDACTIVITIES YMCA South Devon is a charity and a christian based association, which encourages the young people we work with to embrace and follow christian values. To achieve the above mission we aim to". 1. Improve the lives of children and young people by: identifying needs and providingtailored e8rly interventions providing a safe place forthem and their families to thrive and reach their potential supportirsg those who are vulnerable and at risk
YMCA South Devon Trustees, Report for the year ended 31 August 2024 2. Ensure thatthe work we do contributes to the wellbeing of the community as a whoLe by: raising aspirations of children and young people helping to reduce 8nti-social behaviour preventing homelessness encouraging our young people to make 2 contribution to society by engaging in education, training and employment 3. Create 8 community hubwhere people can come togetherto Learn, socialise and develop skills and relationships WHOWEWORKWITH 1. We provide seniices for children 8nd young people aged between O and 25 2. Extend our re8ch into the followlng groups wlth the 8im of 8chl8vlng positive outcomes for: early years aged 0-5 children and young people aged 5-16 young people post 16 to 25 parents, families and c8rers young people at risk of losing their home the community HOWWE WORK To achieve our ambitions we: 1. Ensure that we recruit and retain sufficient staff for continuous delivery of services. 2. Ensure that st8ff: receiv8 the best support and trainingto fulfil their accountabilities with confidence understand the overall purpose of the YMCA and how the different teams contribute tothis 3. Work collaboratively with parents, carers, schools, police 8nd volunteers 4. Eng8ge with the people in our community 5. Enhance and increase: our partnership working networks with other agencies 6. Collaborate with other social entities 7. Develop a communications and PR strategy that will raise awareness 8cross Torbay of the YMCA'S work and achievements 8. Develop 8 fundr8ising strategythat: engages our local community accesses financial support from local and national gr8nts and aw8rding bodies 9. Ensure thatthe charity is:
YMCA South Devon Trustees, Report for the year ended 31 August 2024 financially robust and stable across all SeiceS to ensure its continued longevity complies with the Charity Commission guidelines OUR ACTIVITIES YMCA South Devon seeks to meet the needs of children and young people in the South Devon area by delivering quality, efficient, effective and economic8lly viable programmes and projects. These programmes and projects aretailored to meetthe diverse needs of the community and are focused on delivering positive outcomes to the overall community. Our main programmes are: 1. Muddywellles Nursery 2. Flt for Llfe 3. Buddy Base 4. Nightstop S. Toddler groups Muddywellies, Nursery Our nursery provision is for Oto 5 year olds. Our purpose-built nursery hasthe use of our amazing outdoor space of gardens, woodlands and p18yground to encourage physical activity and exploration of the environment around us. The children spend time together but are also separated into age groupsfortheirtargeted earlyyears learning, the m8jorityof which is achieved through pl8y, even when they are preparing for entry to compulsory education. Fft for Llfe This service is aimed at children and young people needing an alternative approach to education, b8sed on meeting their social and emotionaL. It provides 8n altern8tive approach to education for young people who h8ve fallen out of the traditional educ8tion system. We work in sm81l group and one to one sitU8tlons with children 8nd young people that are referred to us by the local authority or their school. By working in small groups or one to one, we can build relationships wlth these vulnerable children 8nd young people to address their personal. social and emotional needs and aLsoto worktowards enablingtheir education with us, with a view to them returning to mainstream education as soon as is practicably possible. This enrichesyoung people's lives who otherwise maywell be completelyout of the education system and unsupervised duringthe school day, placingthem at unnecessary risk. The wider community also benefits as young people become a constructive part of society. Buddy Base Through the workwith young people in our Fit for Life programme, we became aware of the huge anxiety that chiLdren face when moving up from primaryto secondary school. Buddy Base is our well-being youth group, which is specifically aimed at school years 5-8 to equip them with the
YMCA South Devon Trustees, Report for the year ended 31 August 2024 resilience and self-confidence to navigate this transition and provide them with peer support along with the guidance from qualified and experienced youth workers. Nlghtstop This service is for young people that find themselves homeless. Launched in December 2021 Nightstop operates from YMCA South Devon offering a community response to youth homelessness. It is an established service overseen by DePaul UK and offered in thirty-three towns and cities across the UK. YMCA South Devon are also working closely with the local authority and surrounding areas to assist with the appropriate next steps for the young person. as we believe everyyoung person should have somewhere safe, to call home. Toddler group Following on from the pandemlc, we realised there were lots of new parents that had missed out on the chance to meet fellow parents and for their children to socialise with others. Wriggles & Giggles started and is a small group of parents and children that attend a weekly session led by one of our experienced Earlyyears team. YMCA charlty shops We have had some of our Ioc81 YMCA shops close but do still have one in Torquay and one In Paignton. They continue to be busy and active in our community 8nd, as 8Lways, we are 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. SUMMARYOF KEYSUCCESSES MuddyWeLLles Our nurserycontinuesto offer a homefrom home experiencefor our children. We have continued to develop our outdoor curriculum and guarantee 'muddy wellies, dailyl Our chiLdren thrive from the supportive and nurturing care they receive, and parents give us positive feedback. With a strong SEND offer, we are able to 8SSiSt our children with additional needs, so th8t they can access the s8me daily progr8mme of activities. Fit for Life The second half of thls year saw a renewed stability with the appointment of a new Youth Manager, following some difficult times with staff ing. Our alternative provision has continued to support young people referred to us and help them achieve the best possible outcomes. By working in a trauma informed w8y, offering bespoke packages, specifically tailored to a young person's individual strengths, we are able to increase aspirations and self-esteem. Buddy Base Following our initial success, we aim to seek more fundingto expand this service and reach more young people. In time we Sim to offer additionaLsessions that could include, for example, music, drama and speciaList art workshops.
YMCA South Devon Trustees, Report for the year ended 31 August 2024 Nightstop With 196 bed nights provided by us this year. this service is sadly very much needed in Torbay. We continue to seek new hoststojoin us in providingthese important safe nights and our primary focus remains securing funding to keep this service operating. Working in collaboration with Torbay Council and YMCA Exeter, we are preparing to deliver 36 units of supported accommodation in Torbay, this will enhance the options available for our young peopLe accessing Nightstop as well as the young people already seeking accommodation in the bay. CHALLENGESAND PLANS FOR THE FUTURE CHALLENGES The bulldlng Due to the popularity of our seNices, we have outgrown our building and have had to install a portacabin in the car park as 8 temporary office. Our buildlng is now over 55 ye8rs old and is no longer watertight, with inadequate ventilation and minimal disability access. We are working on securing funds to build a new building on our current site, which would be to current standard, but also enable us to expand on what we currently offering as well as offering additional seNices. So far our attempts to find adequate funding haven't been successful. If this continues to prove beyond our reach, we will attemptto secure funds to repair and replace where possible. Recrultment and retentlon This rern8ins an issue for the sector as 8 whole 8nd we continue to work hard to look at creative Ways to not only recruit staff but to ensure that they receive quality training and support that maintains their confidence and motivation. We continue to 'grow our own, through apprenticeships and our newlytrained apprentices have continued to workforYMCASD. PLANS FOR THE FUTURE Muddywellies will continue to offer quality childcare and expand our services to meetthe growing needs of parents and will further evoLve as we strive to address the expansion of government funded childcare. Fit for Life WILL continue to be an aLtern8tive provision for children and young people that struggle to access mainstream education. With more spaee we will aim to expand our offer to include Post 16 as many of our young people find the transition to the next stage of their education very difficult. Nightstop is pLanningto introduce a 'Daystop' service so ouryoung people have somewhere safe to go during the day. We 81so aim to assist with supported accommodation as. currently,
YMCA South Devon Trustees, Report for the year ended 31 August 2024 there is very little provision in Torb8y which offers the appropriate amount of supportto enable young peopLe to live independently. Toddler Group Our toddler group is well attended. and parents feedback tells us thatthe group has"a lovely atmosphere. inclusive. supportive & welcoming-l've met lots of new mums" and "I love the arts & crafts and the singing & dancing". In time we would like to expand our offerto include sessions offering specific support on topics such as weaning, safe sleeping, baby massage, messy play etc. FINANCIAL REVIEW After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the nearfuture. For this reason, they continue to adopt the going concern basis in preparing the financi8L statements. Furtherdet8ils regardingthe adoption of the going concern basis can befound in the Accounting Policies. Since the period end we h8ve been working hard to build on our programmeto ensure profitability so that we can meet our costs and begin to build our reserves. The gross incoming resources for the period were £854,970 and the net outgoing resources expended were £830,401. This leaves a movement in funds of £24,569. Totalfunds on 31 August 2024 were £107,739. The period has seen some ch8LLengingtrading, but with some new initi8tives in place we hope to build expand our current services to offer an improved service for the community we seNe. The Chief Executive 8nd the Leadership te8m continue to work hard at identifying other ways we can grow and achieve sustainability and how we can best serve our local community for the future years to come. The str8tegy continues to include pursuing funding sources for new projects that meet our over8LI objectives and raising awareness of the work w8 currently do. Small company provlsions This report has been prepared In accordance with the small companies regime under the Comp8nies Act 2006. Approved by the Board and signed on its beh8Lf by: Wendy Thomas Director 8nd Trustee Date 31 March 2025
YMCA South Devon Independent Examiners Report I report on the accounts of the charity forthe year ended 31" August 2024, which are set out on pages 11 to 24. Responsibilities and basis of the report As the charity's trustees of the Company {and also its directorsforthe purposes of company lawl 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 ex8mination, 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 bythe Charity Commission under section 145 {5) (b) of the 2011 Act. Independent examlner's statement Slnce the Company's gross income exceeded £250,000 your ex8miner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the ex8mination because l 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 Comp8ny as required by section 386 of the 2006 Act: or 2. the accounts do not accord with those records; or 3. 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 fairview which Is not 8 matter considered ss part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Ststement of Recommended Practice for accounting 8nd reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concerns 8nd have come across no other matters in connection with the examination to which 8ttention should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. lan Barrett FCA FCIE Barretts Chartered Accountants 22 Union Street Newton Abbot TQ12 2JS Dated 8. May 2025 10
YMCA South Devon Statement of Financial Activities (including Income and Expenditure Account) Unrestricted Funds Restrlcted Funds TOTAL 2024 TOTAL 2023 Note Income from: Donations and legacies Other trading activities Charitable activities Investment income Total Income 40.549 29.705 754,452 177 824,883 26,707 3.380 67,256 33.085 754,452 177 854.970 66.214 32.075 650,155 30.087 748,444 Expendlture on: Raising Funds Charitable activities Total Expenditure 8,718 774,442 783.160 206 47,035 47.241 8,924 821.477 830,401 10.040 800,223 810,263 Net Income/(expendlture) 41,723 (17.154) 24.569 (61.819) Transfer between funds Net movement in funds 41,723 (17,154) 24.569 {61,8191 Reconclllation of funds Total funds brought forward 39,407 43,763 83,170 144,989 Total fvnds carrled forward 81,130 26,609 107,739 83,170
YMCA South Devon Balance Sheet 31 August 2024 TOTAL 2024 TOTAL 2023 Note FIXED ASSETS Tangible Assets 11 73,531 87,668 CURRENT ASSErs Debtors Cash at bank and in hand 12 957 95,535 96,492 7.585 75,712 83,297 CREDITORS . amountsfalllng due wlthln one year 13 (39.625) (40,225) Net current assets 56.867 43,072 Total assets less current Ilabilities 130,398 130,740 CREDITORS . amounts falling due wlthln one year 14 (22.659) {47,570) TOTAL NEf ASSEf5 107.739 83,170 THE FUNDS OF THE CHARITY Unrestricted Restricted TOTAL CHARITY FUNDS 81,130 26.609 107,739 39,407 43,763 83,170 Forthe financialyear ended 31 August 2024. the charitywas 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 smaLI companies regime. Approved bythe Board on 31 March 2025 and signed on its behalf by: WendyThomas Director and Trustee
YMCA South Devon Cashflow statement 31 August 2024 2024 2023 Net cash flow from operating actlvities 20,279 (77,157) Cashflows from investing actlvlties Proceeds of sale of Tangible fixed assets Purchase of Tangible fixed assets 258 (714) 2,736 (4,368) Net cash provided by/(used in) Investlng artlvltles (456) (1,632) Change In cash and cash equlvalents In the reportlng perlod 19,823 {10,904) Cash and cash equlvalents at I September 75,712 154,501 Cash and cash equlvalents at 31 Au8USt 95,535 75,712 Reconclllatlon on net Income/(expenditure) before investment galns Net Income before Investment gains 31 August Adjustments for: 24,569 {61,819) Depreciation charges Decrease/(increasel in debtors 14,593 6,628 14,149 {4,993) IDecrease)/lncrease in creditors Net Cash provlded by/(used In) operatlng actlvltles 125,511) 20,279 (24,4941 {77,157) Analysis of cash and cash equivalents Cash in Hand Notice deposits (less than 3 months) 95,535 75,712 95,535 75,712
YMCASouth Devon Notes to the Financial Statements 1. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as foLIows: 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 2019) Charities SORP (FRS 102), the Financial Reportingstandard 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 2024 which takes into account proposed income improvement and cost saving mechanisms introduced during the year. On the basis of projections. the trustees are confident that the company will continue to operate as a going concern for the foreseeable future. Fund accountlng 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 the specific purpose. Further details of each fund ar8 disclosed in note 17. Incomlng, resources Voluntary income including donations, and grants that provide core funding or are of a general nature is recognised where there is entitlement; rec8iPt 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 las the related goods and services are provided) under contract. 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.
YMCA South Devon Notestothe Financial Statements 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 seniices 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. Fixed assets Individual fixed assets are capitalised and recorded at cost. Depreclatlon 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 Property improvements Camping Equipment Motor Vehicles Furniture and equipment 2% of cost 10% ofcost 33 % straight line 250A) reducing balance 15% reducing balance Operating leases Rentals payable under operating leases 8re ch8rged in the statement of financial activities on a straight-line basis over the Lease term. Penslon3 The charity participates in a defined contribution scheme. In accordance with SORP IFRS102) contributions to the schem8 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 20, YMCA South Devon has a contractual obligation to make pension deficit payments of £20,976 pa over the period to April 2027, accordingly this is shown as a liability in notes 12 and 13 to these accounts. In addition, YMCASouth Devon is required to contribute £4,539 pa to the operating expenses of the Pension Plan and these costs are charged to the Statement of Financial Activities as made. 15
YMCA South Devon Notes to the Financial Statements 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 revision and future periods is 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. Flnancial Instruments The charity only has financi8l 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. 16
YMCA South Devon Notes to the Financial Statements 2. Donations and legacies Unrestrirted Funds Restricted Funds TOTAL 2024 TOTAL 2023 Donations and legacies Appeals and donations 8,678 10 8,688 20,415 Grants Grants receivable 31.871 40,549 26.697 26,707 58.568 67,256 45,799 66,214 3. Other Tradlng Actlvltles Unrestricted Funds Restrlcted Funds TOTAL 2024 TOTAL 2023 Fundraising Rent and service charges received 16,363 13,342 29.705 3,380 19,743 13,342 33,085 20,692 11,383 32,075 3.380 4. Income resources from charitable activities Unrestricted Funds Restricted Funds TOTAL 2024 TOTAL 2023 Schools work After School Clubs, Holiday Activities and Nursery Intervention Youth Work 463,886 463,886 337,657 290.566 754.452 290,566 754,452 312,498 650,155 5. Investment Income Unrestricted Funds Restricted Funds TOTAL 2024 TOTAL 2023 Investment income Bank deposit interest 177 177 177 177
YMCA South Devon Notes to the Financial Statements 6. Total resources expended Unrestricted Funds Restricted Funds 2024 2023 Raising funds Fundraising costs 8.718 206 8.924 10,040 Charltable activltles: Cost of goods sold Employment costs exc pensions Employment costs- pensions Establishment costs Repairs and maintenance Off ice expenses Printing, postage and stationery Sundry and other costs Cleaning Motor expenses Travel and subsistence Advertising and promotion Accountancy and legal fees Bank charges Legal and professional costs Bad debts Loss on sales of tangible fixed assets Depreciation of tangible fixed assets 14.993 636.333 30,898 18.612 4.336 11,565 5.324 7,860 2,224 9,536 544 38,301 15,537 674,634 30.898 18.612 4.543 12.564 6,436 12.274 2,899 9.536 758 9,402 2,590 (1,444) 5,274 2.371 2,217 12,376 821.477 17,516 636,151 27,160 16,200 7,493 18,500 6,861 15,078 3,612 13,967 1,154 8,987 2,814 1,724 8,857 207 999 1.112 4.414 675 758 9,377 2,590 (1.444) 5,274 2.371 2,217 12,376 774,442 25 736 13,413 800,243 47,035 Total Expendlture 783,160 47.241 830.401 810,263 Expenditure for the year includes £47,241 (2023: £61,251) in respect of restricted funds and £783,160 (2023: £749.012) in respect of unrestricted funds.
YMCA South Devon Notes to the Financial Statements 7. Trustees. remuneration and expenses One trustee is also an employee of the charity and received remuneration of £45,461 (2023: £44,876) in respect of their 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 policyfor CharityTrustees Indemnity Insurance. The cost during the year ended 31 August 2024 was £1,939 (2023: £1,724). 8. Net expenditure Net expenditure is stated after charging: 2024 2023 Loss/lProfit) on disposal of tangible fixed assets Depreciation of tanglble flxed assets 2,217 12,376 736 13,413 9. Employees remuneration The average number of persons employed by the charity (including trustees) during the year, analysed by category, was as follows: TOTAL 2024 TOTAL 2023 Youth activities Administrative activities Management activities 26 26 36 35 The aggregate payroll costs of these persons were as follows: TOTAL TOTAL 2023 2024 Wages and salaries Other pension costs 674.634 30.898 705,532 636,151 27,160 663,311 19
YMCA South Devon Notes to the Financial Statements No employees received benefits of more than £60,000. The total employee benefits of the key management personnel of the charity were £151,430 (2023: £142,634) 10. Taxation The company is a registered charity and is, therefore, exempt from direct taxation. 11. Tangible fixed assets Leasehold and other interests In land and buildings Plant and machinery includlng motor vehicles Fixtures. fittlngs, and equipment TOTAL Cost As at I September 2023 Additions Disposals 212,145 3,300 74,500 714 289,945 714 (3,300) (3,3001 As at 31 August 2024 212,145 75,214 287,359 Depreciation As at I September 2023 Elimlnation on disposals Charge for the year 139,913 825 (825) 61,539 202,277 {825) 12,376 10,301 2,075 As at 31 August 2024 150,214 63,614 213,828 Net book value at 31 August 2024 61,931 11,600 73,531 Net book value at 31 August 2023 72,232 2,475 12,961 87,668 12. Debtors 2024 2023 Trade debtors 957 7,585 7,585 957 20
YMCASouth Devon Notes to the Financial Statements 12. Creditors amounts falllng due within 1 year 2024 2023 Trade creditors Taxation and social security Other creditors Agreed additional pension contribution5 3,313 8,191 7,145 20,976 39,625 4.788 10.014 5,120 20,303 40,225 13. Creditors amounts falling after more than one year 2024 2023 Agreed additional pension contributions 22,659 22,659 47,570 47,570 14. Member's liabllity 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 commltments As at 31 August 2024, the charity had total commitments under non-cancellable operating leases as follows: Operating leases which expire: 2024 2023 Within 5 years 26,255 35,576 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. 21
YMCASouth Devon Notes tothe Financial Statements 17. Analysls of funds Current year: Atl September 2023 Incoming resources Resources expended Transfer5 At 31 August 2024 General Funds Unrestricted Income Fund 39,407 824,883 (783,1601 81,130 Restrlcted Funds Nightstop Total 43,763 83,170 30,087 854,970 (47,241) (830,4011 26,609 107,739 Prevlous year: Atl September 2022 Incoming resources Resources expended Transfer At 31 August 2023 General Funds Unrestricted Income Fund 73,194 702,180 {749,012) 13,045 39,407 Restricted Funds IT fund Kitchen fund Awards for all Trusthouse refurbishment Devon IT Nightstop 318 561 2,326 2,337 1,096 65,157 71,795 144,989 (48) (85) (349) (351) {165) 160,2531 (61,251) (810,263} {270) (476) (1,977) {1,986) 1931) (7,0451 113,045) 46,264 46,264 748,444 43,763 43,763 83,170 Total Restricted Funds Nightstop Project Income was received for the setting up and running of a Nightstop project, placing young people at risk of homelessness with trained volunteers. 22
YMCA South Devon Notes to the Financial Statements 18. Net assets by fund Tangible Fixed Assets Net Current Assets Long Term Liabilities TOTAL Restricted Funds Nightstop 26,609 26,609 30,258 56,867 26,609 26,609 81,130 107,739 Unrestricted Funds Total (22,659) (22,659) 73,531 19. Penslons Defined Contrlbution Scheme During the year ended 31 August 2024, the charity mad8 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 2023. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets held before and after retirement of 4.16¥0 and 2.66% respectively, the increase in pensions in payment of 3.61%, (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement (of 66) for a current male pensioner of 22.2 years. female 24.1 years, and 24.Oyears 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 £132m. This represented 86% 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 al empLoyed deferred members became deferred 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 2023 showed that the YMCA, Pension Plan had a deficit of £21.3 million. YMCA South Devon has been advised that it will-need to make monthly contributions of £1,748 from 1 May 2024. This amount is based on the current actuarial assumptions (as outlined above) and mayvary in the future as a resultof actual performance of the Pension PLan. The current recovery period is 14years commencing 1st May2015. 23
YMCA South Devon Notes to the Financial Statements Repayable One to Two to two five years Within One year After five years After more than one year Total 2024 Total 2023 years As at 31 August 2024 As at 31 August 2023 20,976 20,976 1,683 22,659 43,635 20,303 20,303 27,267 47,570 67,873 In addition, YMCASouth Devon may have overtime 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 2024, the charity made payments towards the deficit and administration costs of £24.238 {2023: £25,183). 24