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2024-04-30-accounts

REGISTERED COMPANY NUMBER: 04336719 (England and Wales) REGISTERED CHARITY NUMBER: 1090981

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 FOR YMCA FAIRTHORNE GROUP

Hopper Williams & Bell Limited Statutory Auditor Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire SO53 4AR

YMCA FAIRTHORNE GROUP

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

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Page
Reference and Administrative Details 3
Introduction of the Chair of Trustees and Chief Executive 4
Report to the Trustees (including strategic report) 5 to 11
Report of the Independent Auditors 12 to 14
Consolidated Statement of Financial Activities 15
Consolidated and Charity Balance Sheet 16
Consolidated Statement of Cash Flows 17
Notes to the Consolidated Statement of Cash Flow 18
Notes to the Financial Statements 19 to 34
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YMCA FAIRTHORNE GROUP

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 APRIL 2024

PRESIDENT EMERITUS Mr M Tilbury
TRUSTEES Mr D A Bennett
Ms S Darrell (appointed 14 October 2024)
Mrs E R L Dunford (appointed 5 May 2023, resigned 31 July 2024)
Ms C J Fulford (appointed 14 October 2024)
Ms N Kinally (resigned 31 July 2023)
Mr I J Martin (appointed 14 October 2024)
Mrs M K Radcliffe (appointed 5 May 2023, resigned 31 July 2024)
Mrs P J F G Stokes (appointed 5 May 2023)
Mr T J Titheridge (resigned 30 November 2023)
Mr J D Towers (appointed 5 May 2023, resigned 29 November 2024)
Mr S R Watson (appointed 14 October 2024)
Mrs J Wharton (appointed 14 October 2024)
Mr P M Youngs
COMPANY SECRETARY Ms P J Spicer (appointed 31 July 2023)
Mrs R C Searle (resigned 31 July 2023)
SENIOR MANAGEMENT TEAM
Ms P J Spicer Chief Executive
Ms E Corina Director of Housing and Development
Mr J Hooper Fairthorne Manor Community Director
Mrs S McCarthy Director of People
Mrs R Harris Finance Director (Until 31 May 2024)
Mrs V Kennesion Director of Early Years
REGISTERED OFFICE Fairthorne Manor
Botley Road
Curbridge
Southampton
Hampshire
SO30 2GH
REGISTERED COMPANY 04336719 (England and Wales)
NUMBER
REGISTERED CHARITY 1090981
NUMBER
SENIOR STATUTORY AUDITOR Michaela Johns (FCCA)
AUDITORS Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR
BANKERS Barclays Bank plc
1 Churchill Place
London
E14 5HP

Page 3

YMCA FAIRTHORNE GROUP

INTRODUCTION BY THE CHAIR OF TRUSTEES AND CHIEF EXECUTIVE FOR THE YEAR ENDED 30 APRIL 2024

Introduction by the Chair of Trustees and Chief Executive.

This year marks the first phase of our transformation plan for YMCA Fairthorne Group. This phase involved a refocus of our activities on achieving impact for our core beneficiaries and achieving sustainable services. The children in our early year's settings and the young people in our supported housing services benefited from new quality plans setting clear objectives with progress recognised by Ofsted who have rated all settings as Outstanding or Good. In our supported housing we identified and began targeting the 3 key barriers our young people face: good mental health, a comfortable home and a career that pays. We welcomed 4 new trustees who bring a wealth of knowledge in service quality and fundraising. A new Leadership Team was established involving not just the senior management team but potential leaders from across the organisation; this group helped drive cultural and behavioural changes. Our financial report for the year shows the dramatic turnaround in financial performance achieved in just 12 months.

In addition to the transformation of services, the board and SMT led a process to review our purpose and impact statements with a mind to growing our reach and impact in an evidence-based and measurable way. This work will continue into the new year and we are working in parallel with a national YMCA initiative to establish a common Theory of Change for housing services. This work will enable our strategic plan to focus on new opportunities and growth.

Notable achievements for the year include:

After four years of navigating the negative impacts of Covid, 24/25 feels exciting and full of hope. We have launched an ambitious new fundraising strategy. Phase 2 of our transformation is underway with a focus on Fairthorne Manor and all it can bring to the next generation of children, families and communities. We will actively seek opportunities to respond to changes in the external environment. In particular we are hopeful both that the early years funding environment will improve after years of chronic underinvestment and also that the young people we support will be able to secure an affordable home to live in when they are ready to move on and begin their independent lives.

Dave Bennett and Phillipa Spicer

Page 4

YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Purpose and Charitable Objectives

The Trustees, who are also directors of the charity, submit their annual report (including the strategic report) and audited financial statements for the 12 month period ending 30 April 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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) the provisions of the Statement of Recommend Practice Accounting by Registered Social Landlords (SORP) "Accounting and Reporting by Charities" issued in March 2005 and the “Accounting Direction for private registered providers of social housing” issued in January 2022.

YMCA Fairthorne Group is a community-based charity whose purpose is “We believe everybody should have the opportunity to lead happy, healthy lives”. Our strategy is to establish YMCA places in close partnership with local communities and ensure the delivery of programmes that meet the needs of children, young people, and families.

Our Charitable Objectives as defined by our Articles of Association are:

Public Benefit

The Trustees confirm that they have complied with section 4 of the Charities Act 2006, to have due regard to the Charity Commissioners' general guidance on public benefit, 'Charities and Public Benefit'. The direct benefits that flow from our objectives are:

Page 5

YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Strategic Plan

The first year of delivery of our new strategic plan saw a focus on driving quality and sustainability for our key beneficiaries:

Early years – all settings held Ofsted ratings of Outstanding or Good. All settings achieved their inclusion goals using the Inclusive Classroom Profile. The early years business model aligned with commercial principles, securing their sustainability despite the challenges of the funding environment.

Young people in housing – all services implemented quality improvement plans and invested in staff development. Activities focused on seeking to help young people overcome the 3 core barriers they face: good mental health, a nice affordable home, and a career that pays. The business model was reviewed to identify investment opportunities into infrastructure improvements.

Community – a Youth Investment Fund grant saw the complete refurbishment of Newtown Youth and Community Centre. At Fairthorne Manor new programmes were and team structures realigned. Work is now underway to help people access and benefit from this amazing site all year round.

A Leadership Team was established which began a 12-month development programme, “WeThrive”. The team first focused on driving organisational culture and behaviours and is now refreshing “The YMCA Way” in line with the thinking and is taking responsibility for performance-managing our strategic plan.

Work continued in refreshing our impact and purpose statements with a number of board and SMT workshops taking place. This work will continue into the new year where we will define how our work impacts children and young people.

The YMCA Way

The YMCA Way describes how we design and deliver programmes. It consists of four equally weighted elements which in combination generate quality activities, offering opportunities for individual and community growth. In the context of our refocus and new strategy, The YMCA Way will be reviewed and refreshed over the next year in a staff-led initiative supported by members of the Leadership Team.

Values

Welcoming, Active, Listening, Inspiring, Caring, Exciting.

Community led

Community-led means we undertake activities the community wishes us to do, and wishes to be involved in.

Evidence led

We implement evidence-based practice to achieve positive impact.

Our Behaviours

We model behaviours derived from our values through all interactions with children, families, the community, and each other.

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YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Achievements and Activities

The Very Best Start In Life

880,816 hours of childcare and early years education were provided to 1,360 children across our early years settings at Andover, Barn Owls, Eastleigh, Fairthorne Manor, Gosport, New Milton, Newport, Whale Island and Woolston. Gosport and Barn Owls successfully transferred to their new providers in June and July, respectively. All retained settings maintained or grew their occupancy achieving a 20% growth in income.

The Inclusive Classroom Profile (ICP) project concluded having trained staff and implemented inclusion systems across all 7 of our YMCA settings.

A new Outdoor Preschool founded on forest school principles opened at Fairthorne Manor, enabling children to explore, learn and develop in a fully natural environment.

The Best School Holidays

Children benefitted from exciting and engaging school holiday activities at our Daycamps programmes at Fairthorne Manor and Portsmouth, with over 5377 Daycamps days delivered in the year. We were successful in securing further grant funding from the Department of Education’s Holidays and Food scheme which funded places for children from families in receipt of benefits related free school meals or who face adversity.

Exciting Group Activities and Residentials

14,912 people attended day and residential group activities at our sites at Fairthorne Manor in Hampshire and Winchester House in Isle of Wight, a substantial rise compared to the previous year.

A grant was secured from Adventures Away From Home which enabled 346 young people facing disadvantage to access outdoor activities at Fairthorne Manor.

Young People in Housing

260 young people received support while living in YMCA housing in Basingstoke, Southampton and Isle of Wight. A total of 46 young people successfully moved on to independent living. Support included drugs and alcohol advice, sexual health advice, mental health support and access to counselling.

An Advantaged Thinking assessment took place with the Foyer Federation at Southampton and Basingstoke with feedback demonstrating we are on track to achieve accreditation with the quality improvement work extended until 2025.

New initiatives began including counselling services, development of mental health champions, improvements to the physical environment and a bespoke work-readiness programme called F.I.T. to Work launched at the start of the new year.

Basingstoke secured a winter grant of £31,000 which enabled young people to purchase clothes and resources needed for the cold winter months.

Funding was secured in Basingstoke and Isle of Wight to support cooking lessons for the young people. The funding also provided ingredients for the young adults to prepare and cook nutritious meals themselves, expanding their food choices and giving them the ability to maintain a healthy diet when they transition to their own accommodation.

Community Programmes

We continued with the enormous variety of community programmes at our community branches. This included activities directly delivered by YMCA such as the community library at Weston in Southampton; schemes delivered in partnership with other organisations such as food and clothing pantries; and activities delivered by others in our venues including Food Bank, Men’s Sheds, specialist support meetings such as AA, family activities, fitness classes and healthy lifestyle activities.

On 31 July 2023 we integrated our Isle of Wight Young carers service into the Isle of Wight’s Early Help offer provided by Barnardos. This allowed for the service to sustain in an unsustainable funding climate and be fully connected into other child and family support infrastructure.

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YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

At Fairthorne Manor, 13,245 people enjoyed a range of family programmes including Treetots, Family Park, river access and craft hire, and camping. At Winchester House 2,913 people attended community group activities delivered by partners.

1054 young carers from across England attended the 2023 Young Carers Festival.

Funding was secured to provide IT equipment at Newtown Youth and Community Centre giving children whose first language is not English facilities to complete their homework as part of an after school club, At other times the equipment is available for local adults to use, for example to apply for jobs.

Fundraising

A total of 498k (2023: £257k) was received in the form of grants:

The Trustees would like to thank the following organisations which have supported the work of YMCA Fairthorne Group during the course of the financial period:

Binstead WI Coop Community Fund Hampshire County Council H4Photos IOW Council IW Heroes Con Jackson & Green Accountants John Lewis Masonic Charitable Foundation NHS Nuffield Health Wessex Pfizer Pilgrim Trust PWI Summercamp Sainsburys (Neighboroughly) SIB Youth Investment Fund Sir Jeremiah Coleman Foundation Southampton City Council Southern Water SpecSavers Storage on Site Tesco Groundworks TVR Summercamp UK Youth Fund United Reform Church IOW Walkers Snacks White Lily Centre WightAid Wight Strollers Yarmouth WI Yeo Valley YMCA England & Wales Zurich

No external professional fundraiser or commercial participator was used during this period. Fundraising activities were monitored by the fundraising team, including ensuring that there were no unreasonable intrusions or approaches made in raising funds, either directly or on behalf of the organisation. No complaints were received in relation to fundraising.

Page 8

YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Plans for Future Periods

Strategy

The first year of our transformational strategic plan was about achieving financial sustainability and growing impact. This next year will focus on Fairthorne Manor, defining its role, impact and sustainability for future generations of children.

Impact

The Board and SMT will continue their work on defining our purpose and impact statements which will enable the charity to set and monitor progress against clear impact goals. As part of this work, we will complete our supported housing Theory of Change and develop a charity-wide theory of change linking our activities to the impact for each of our beneficiary types.

Fundraising Strategy

An ambitious fundraising strategy launched at the start of the year which will support the growth of our reach and impact over the next 5-10 years.

Volunteering Strategy

Young People

Our young people’s housing support services, and the physical environment, will be wrapped around concepts of Belong, Contribute and Thrive and provide a staged approach to support, enabling young people to perceive a sense of achievement and progression in life. Support services will address the 3 core challenges they face: good mental health; a safe, affordable home; and access to meaningful employment. The learning and outcomes from the F.I.T. to Work programme will be embedded into a permanent approach. The rent bursary fund will be established to help young people sustain their home when in employment.

Newtown Youth and Community Centre will launch a full programme of youth and community work, in partnership with local groups and organisations. It is intended the centre will be open 7 days a week and led by volunteers.

Early Years

The early years quality team has grown to include a Quality Manager to continue their focus on continual improvement. The Inclusive Classroom Profile will be embedded as standard practice and we will identify what it is that is unique about YMCA’s early years. We expect the funding environment to improve and will take advantage of this to invest in improvements to quality including to our physical environments.

Community

Fairthorne Manor is recognised as the heart of our charity and an underutilised resource. A process of transformation will launch in the new year with a focus on community activities and access so that Fairthorne Manor becomes the destination of choice for schools and families, and a refresh of long-standing programmes to ensure they are fit for the future.

Our People

Employee Voice, a group of staff representatives, have completed their consultation into staff benefits and a new benefits package will launch in the year, giving multiple options that are relevant to our diverse staff team. A full Employee Engagement Survey will take place in the year with feedback fed into improvement plans.

A visionary volunteering strategy launched which seeks to secure at least 200 volunteers at YMCA over the next year, and to grow this to 400 over the next 4 years. This would truly transform the charity to be volunteer-led.

Financial Review

The Trustees note that the year end resulted in income decreasing by £224k to £12,052k (2023: £12,276k) against the prior year. Like for like, income would have dropped below 2019 levels primarily as a result of the impact of Covid 19. As previously indicated, the impact of Covid has been significant and this is demonstrated in the financial accounts as reported. The charity worked hard to minimise the impact of Covid 19 through tight cost control and a restructure across Fairthorne Manor, Central Support and Winchester House. In addition, fundraising and government grants £2,165k (2023: £1,881k) went a long way to limit the impact on the bottom line, resulting in a reported surplus of £659k (2023: Deficit £1,436k).

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YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Risk Management

Our Risk Policy is a regular focus of the Board. Risk is the threat or possibility that an action or event (or sometimes inaction) will adversely affect an organisation's ability to achieve its objectives. The aim of our risk policy is to enable YMCA Fairthorne Group to achieve our mission. Therefore, we accept those risks to which we must subject ourselves to deliver our mission. We strive to:

We aim to understand, document and review all significant risks which arise from our ongoing activities. We do this by making and regularly updating a business risk analysis and following up all matters which require attention. Where controls can be created or improved in a practical and cost-effective manner, these are implemented. Senior members of staff are contractually obliged to report any major risk to the Board.

Our operations are subject to regular review by a number of external agencies, including Ofsted, Environmental Health agencies, auditors and others.

Reserves Policy

The Trustees note that an appropriate level of free reserves should be maintained to safeguard the obligations under all contracts and the needs of all the beneficiaries or users of the Fairthorne Group. In any circumstances, the charity must also have sufficient funds available to act as a responsible employer to all staff members. It has been agreed that the following factors need to be taken into consideration in fixing the levels of reserves:

Bearing in mind the considerations given above, it has been resolved that there should be a target of unallocated free reserves in the range of £200,000 - £800,000.

Investments Policy

The Trustees have kept reserves as liquid as possible during the last sixteen months. This has been to ensure that the charity has been able to meet its obligations to creditors and staff by careful management of cash flow. The Trustees will continue to monitor the situation throughout the year. Specialist advice will be sought when required and will be reviewed by the Trustees.

Page 10

YMCA FAIRTHORNE GROUP

REPORT OF TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024

Statement of Trustees’ Responsibilities

The trustees (who are also the directors of YMCA Fairthorne Group for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing those financial statements, the trustees are required to:

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

In so far as the trustees are aware:

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the group directors, on 12 December 2024 and signed on the board's behalf by:

Mr D Bennett - Trustee

Page 11

YMCA FAIRTHORNE GROUP

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA FAIRTHORNE GROUP, YMCA FAIRTHORNE HOUSING AND PARK FAMILIES LIMITED FOR THE YEAR ENDED 30 APRIL 2024

Opinion

We have audited the financial statements of YMCA Fairthorne Group (the 'parent charity') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Statement of Financial Activities (incorporating an income and expenditure account), the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs(UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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YMCA FAIRTHORNE GROUP

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA FAIRTHORNE GROUP, YMCA FAIRTHORNE HOUSING AND PARK FAMILIES LIMITED FOR THE YEAR ENDED 30 APRIL 2024

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (including the group strategic report).

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

Responsibilities of the trustees

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

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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YMCA FAIRTHORNE GROUP

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YMCA FAIRTHORNE GROUP, YMCA FAIRTHORNE HOUSING AND PARK FAMILIES LIMITED FOR THE YEAR ENDED 30 APRIL 2024

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

Use of our report

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

Michaela Johns FCCA (Senior Statutory Auditor) Hopper Williams & Bell Limited (Statutory Auditor) Highland House Mayflower Close Chandlers Ford Eastleigh SO53 4AR 16 Dec 2024 Date ……………………………

Page 14

YMCA FAIRTHORNE GROUP

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
4
Other
5
Total
EXPENDITURE ON
Charitable activities
6
Total
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
18		 Unrestricted
Funds
£'000
12
11,557
-
11,569
11,123
11,123
446
6,649
7,095		 Restricted
Funds
£'000
20
463
-
483
270
270
213
1,565
1,778		 Year ended
30/4/24
Total
Funds
£'000
32
12,020
-
12,052
11,393
11,393
659
8,214
8,873		 Year ended
30/4/23
Total
Funds
£'000
80
12,124
72
12,276
13,712
13,712
(1,436)
9,650
8,214

The net income for Companies Act purposes comprises the net movement in funds.

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

Movements in funds are disclosed in note 18 to the financial statements.

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YMCA FAIRTHORNE GROUP

CONSOLIDATED AND CHARITY BALANCE SHEET AT 30 APRIL 2024

Company number 04336719
Note
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
Pension liability
22
NET CURRENT LIABILITIES
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Pension liability
22
NET ASSETS
FUNDS
18
Unrestricted funds:
General fund
Pension fund
Restricted funds:
Restricted fund
TOTAL FUNDS		 2024
Group
£'000
15,432
15,432
12
828
1,358
2,198
(8,605)
(51)
(8,656)
(6,458)
8,974
(101)
(101)
8,873
7,247
(152)
7,095
1,778
8,873		 2024
Charity
£'000
9,997
9,997
12
631
1,093
1,736
(7,193)
(51)
(7,244)
(5,508)
4,489
(101)
(101)
4,388
2,764
(152)
2,612
1,776
4,388		 2023
Group
£'000
15,434
15,434
13
1,172
1,376
2,561
(9,417)
(57)
(9,474)
(6,913)
8,521
(307)
(307)
8,214
7,012
(363)
6,649
1,565
8,214		 2023
Charity
£'000
9,962
9,962
13
859
1,137
2,009
(7,311)
(57)
(7,368)
(5,359)
4,603
(307)
(307)
4,296
3,098
(363)
2,735
1,561
4,296

The financial statements were approved and authorised for issue by the Board on 12 December 2024 and are signed on its behalf

Peter Youngs

P M Youngs Trustee

The company has taken advantage of the exemption allowed under Section 408 of the Companies Act 2006 and has not presented its own Income and Expenditure account in these financial statements. The surplus for the parent charity for the period was £92k (2023: £1,448k deficit).

The notes on pages 18 to 34 form part of these financial statements

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YMCA FAIRTHORNE GROUP

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Net cash provided by / (used in) investing activities
Cash flows from financing activities:
Loan repayments in period
Net cash provided by / (used in) financing activities
Change in cash and cash equivalents in the reporting period
3
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2		 2024
£'000
658
(338)
-
(338)
(338)
(338)
(18)
1,376
1,358		 2023
£'000
(630)
(149)
437
288
(213)
(213)
(555)
1,931
1,376

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YMCA FAIRTHORNE GROUP

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2024

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES

Net income / (expenditure) for the reporting period (as per the statement of financial activities)
Depreciation charges
Loss / (profit) on disposal of fixed assets
Revaluation of fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Decrease/(Increase) in pensions
Net cash provided by (used in) operating activities
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand		 2024
£'000
659
339
1
-
1
344
(474)
(212)
658
2024
£'000
1,358		 2023
£'000
(1,436)
324
(72)
317
5
(63)
270
25
(630)
2023
£'000
1,376

2. ANALYSIS OF CASH AND CASH EQUIVALENTS

3 ANALYSIS OF CHANGES IN NET DEBT

Net cash
Cash at bank and in hand
Debt
Debts falling due within one year
Total		 At 1.5.23
£'000
1,376
1,376
(6,391)
(6,391)
(5,015)		 Cash flow
£'000
(18)
(18)
338
338
320		 At 30.4.24
£'000
1,358
1,358
(6,053)
(6,053)
(4,695)

Page 18

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

1. GENERAL INFORMATION

YMCA Fairthorne Group is a charitable company, limited by guarantee, incorporated in England and Wales under the Companies Act 2006. The address of the registered office is Fairthorne Manor, Botley Road, Curbridge, Southampton, Hampshire, SO30 2GH.

The consolidated accounts include YMCA Fairthorne Group, YMCA Fairthorne Housing and Park Families Limited for the full accounting period in both the current year and the previous year.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest thousand.

Preparation of consolidated financial statements

These financial statements consolidate the results of the charity and its two wholly owned subsidiaries, YMCA Fairthorne Housing and Park Families Limited, on a line by line basis, using the acquisition method of accounting.

Going concern

The net current liabilities stand at £6,458k (2023: £6,913k) at the balance sheet date. The net current liabilities include the loan with Barclays as it falls due at the end of March 25 which is £6.0m. Discussions are in place with Barclays who have given the commitment to refinance the loan and property valuations are in progress to achieve this. A cash generating budget has been signed off for FY25 and the results YTD are on track.

The charity known as Park Families Limited under the control of YMCA Fairthorne Group gradually discontinued its activities during the year under review. Park Families disposed of its remaining property assets and settled all creditors post year end. Subsequently an application to strike off and dissolve Park Families was submitted to Companies House on 21 October 2024. The strike off is in progress and YMCA Fairthorne Group will continue their support until such time as the company is fully liquidated.

The Trustees consider that there are no material uncertainties about YMCA Fairthorne Group's ability to continue as a going concern.

Critical accounting judgements and key sources of estimation uncertainty

In preparing these financial statements, the key judgements have been made in respect of the following:

Whether there are indicators of impairment of the group's housing properties and other tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. The trustees have considered the measurement basis to determine the recoverable amount of assets where there are indicators of impairment based on Existing Value in Use for Social Housing (EUV-SH) or depreciated replacement cost. The trustees have also considered impairment based on their assumptions to define cash or asset generating units.

Other key sources of estimation uncertainty:

Page 19

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to items of income have been met, it is probable that the income will be received and the amount can be measured reliably. All income arose in the UK.

Income from charitable activities includes programme fees and youth work. Income is recognised in accordance with service provision.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Rental income and service charge income is recognised in the period for which the service was provided to the resident.

Grants

Grants received from non-government sources are recognised using the performance model. A grant which does not impose specified future performance conditions is recognised as revenue when the grant proceeds are received or receivable. Where a social landlord acquires land/or other assets at below market value from another entity, this is in substance considered to be a grant. Where grants are given by a non-government source without restriction or conditions, the whole amount can be recognised upon receipt.

A grant that imposes specified future performance-related conditions on the association is recognised only when these conditions are met. A grant received before the revenue recognition criteria are satisfied is recognised as a liability.

Government grants will be recognised in full provided they meet the recognition criteria, grants relating to revenue are recognised in income and expenditure over the same period as the expenditure to which they relate, once reasonable assurance has been gained that the entity will comply with the conditions and that the funds will be received. Government grants received during the period includes:

If restrictions are attached and the grant is used to purchase fixed assets, the expenditure of the grant will be recognised over the same period as the useful live of the asset.

Expenditure and basis of allocation of costs

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Support costs

Support costs represent the costs incurred directly in support of the objectives of the charity.

Finance costs

Finance costs are charged to income and expenditure over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets costing more than £1k (2022: £1k) are capitalised and included at cost, including non-recoverable VAT. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:

Plant and machinery over 3 to 20 years Fixtures and fittings - Park Families 25 % reducing balance Office equipment, computer equipment and motor vehicles over 3 to 5 years

Page 20

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Freehold and long leasehold

Depreciation is provided on buildings on a straight line basis over 5-50 years. The long leasehold premium is amortised over the length of 50 years. No depreciation is charged on freehold land.

Depreciation of housing properties

Housing land and property acquired before 2019 is split between land and property. Housing land and property acquired since 2019 will be split between land, structure and other major components that are expected to require replacement over time with substantially different economic lives.

Depreciation charged on Housing property acquired prior to 2019 is depreciated based on the cost of the property as a whole. Housing property acquired after 2019 will be split between the structure and the major components which will require periodic replacement. The cost of any replacements or restorations to the major components are capitalised and depreciated over the determined average useful economic life on a straight line basis as follows:

Description Useful economic life (years)
Structure 100
Roofs 70
Kitchens 20
Bathrooms 30
Boilers 10-15
Electrical work 5
Central heating 30
Windows 30
Lifts 20
Land is not depreciated on account of its indefinite useful economic life.

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last reporting date in the pattern by which the group expects to consume an asset's future economic benefit.

Donated assets and services

When assets are donated to the charity, the value of the donation forms the deemed cost of the asset to the group. Similarly any assets acquired from another charity are valued in the group accounts at fair value which forms the deemed cost to the group.

Impairment

Assets that no longer provide a service value to the group are written down to residual value or otherwise impaired.

Stocks

Stocks consists of catering items. Stocks are valued at the lower of cost and net realisable value.

Taxation

The charitable group is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Where funds are provided for the purchase of fixed assets or fixed assets are donated and there is a restriction on the charity's entitlement to the full sale proceeds, those assets are held in restricted funds to the extent of the restriction and amortised over the economic life of those assets.

Financial instruments

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Operating leases

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred.

Defined benefit pension scheme

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

As described in note 22 YMCA Fairthorne Group has a contractual obligation to make pension deficit payments of £50,552 pa over the period to April 2027 (2023: £56,209 pa), accordingly this is shown as a liability in these accounts. In addition, YMCA Fairthorne Group is required to contribute £16k pa (2023: £13k pa) to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made.

Page 21

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

3. DONATIONS AND LEGACIES

2024 2023
£'000 £'000
Donations 32 80

Total income from donations from the group was £32k (2023: £80k), of which £12k (2023: £5k) was unrestricted and £20k (2023: £75k) was restricted.

4. INCOME FROM CHARITABLE ACTIVITIES

Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families
Year ended 30/4/24
Year ended 30/04/23
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families		 Fees
£'000
3,701
2,033
103
40
1,021
777
58
7,733
9,024
2023
£'000
5,769
2,390
602
62
1,153
1,518
630
12,124		 Statutory
Income
£'000
1,813
38
472
332
3
1,127
-
3,785
3,035		 Trusts &
Foundations
£'000
2
12
51
-
3
8
-
76
65		 Other income
£'000
96
82
-
-
236
12
-
426
-		 Total
£'000
5,612
2,165
626
372
1,263
1,924
58
12,020
12,124

Total income from charitable activities was £12,020k (2023: £12,124k) of which £11,557k (2023: £11,940k) is unrestricted and £463k (2023:£184k) is restricted.

Page 22

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

Government grants
Included within charitable income are the following grants:
Other grants received:
Hampshire County Council
Isle of Wight Council
Portsmouth City Council
Southampton City Council
OFGEM		 2024
£'000
1,195
320
170
480
-
2,165		 2023
£'000
1,051
-
165
626
39
1,881

5. OTHER INCOME

OTHER INCOME
2024 2023
£'000 £'000
Profit on disposal of fixed assets - 72

During the year, no properties were disposed of generating a profit of £nil (2023: £157k), losses of £nil (2023: £85k) were incurred in Park Families Limited following the disposals of the Warren Park, Sharps Copse and Dunsbury Way nurseries.

6. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families
Year ended 30/4/24
Year ended 30/04/23
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families		 Staff Costs
£'000
3,998
708
418
59
524
321
16
6,044
7,149
Year ended
30/04/23
£'000
6,527
2,073
728
94
1,525
1,541
1,224
13,712		 Other direct
costs
£'000
581
494
172
31
702
1,020
14
3,014
4,403		 Depreciation
£'000
93
73
4
14
56
66
4
310
299		 Support costs
£'000
1,188
430
108
71
228
-
-
2,025
1,861		 Total
£'000
5,860
1,705
702
175
1,510
1,407
34
11,393
13,712

Total expenditure from charitable activities was £11,393k (2023: £13,712k) of which £11,123k (2023: £13,387k) is unrestricted and £270k (2023: £325k) is restricted.

Page 23

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

7. SUPPORT COSTS

SUPPORT COSTS
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
Park Families
Year ended 30/4/24
Year ended 30/04/23		 Staff costs
£'000
556
201
51
33
116
-
957
1,306		 Depreciation
£'000
21
4
1
1
2
-
29
25		 Governance costs
£'000
60
22
5
4
13
-
104
86		 Other indirect
costs
£'000
551
203
51
33
97
-
935
444		 Total
£'000
1,188
430
108
71
228
-
2,025
1,861
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
Park Families		 2023
£'000
1,119
417
105
10
200
10
1,861

Support costs have been apportioned against charitable activities shown in note 6 in proportion to income in note 4 to reflect the proportion of time supporting statutory and trustee matters.

8. GOVERNANCE COSTS

GOVERNANCE COSTS
Audit and accountancy fees
Affiliation fee
Trustees indemnity insurance		 Group
2024
£'000
43
56
5
104		 Charity
2024
£'000
31
42
5
78		 Group
2023
£'000
46
36
4
86		 Charity
2023
£'000
27
30
4
61

Page 24

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging /(crediting):

2024 2023
£'000 £'000
Depreciation - owned assets 339 324
Surplus on disposal of fixed asset (see note 5) 1 157
Hire of vehicles and equipment 245 217
Property rental 350 284
Auditors' remuneration - audit fee 27 30
Auditors' remuneration - other services 16 16

The above figures are the audit and other services for all trading entities in the group.

10. TRUSTEE REMUNERATION AND BENEFITS

No trustee received any remuneration in the period. Trustees indemnity insurance of £5k (2023: £4k) was paid in the period. Trustee expenses of £167 (2023: nil) were paid in the period.

11. STAFF COSTS

Wages and salaries
Social security costs
Pension costs
The average number of employees during the period was as follows:
Charitable activities
Support staff
Housing, support and care
The number of employees whose benefits (excluding employer pension costs) exceeded £60,000 for the period was :
£60,001-£70,000
£90,001-£100,000
£120,001 - £130,000		 2024
£'000
6,464
464
73
7,001
2024
296
22
25
343
Year ended
30/4/24
3
1
-		 2023
£'000
7,648
514
293
8,455
2023
406
24
23
453
Year ended
30/04/23
2
1
1

Pension contributions payable for the above employees for the year were £24k (2023: £21k).

Key management personnel of the group include Trustees, Directors of the subsidiaries and the senior management team. The total employee benefits to the key management personnel for the year were £432k (2023: £659k).

During the year, termination payments totalling £14k (2023: £109k) were made to 7 (2023: 15) employees. During the year, ex-gratia payments totalling £nil (2023: £48k) were made to nil (2023: 4) employees.

Page 25

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

12. COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITY - 2023

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families
Other
Total
EXPENDITURE ON
Charitable activities
Early Years Programmes
Children & Group Programmes
Housing & Accommodation Based Programmes
Youth Programme
Family & Community Programmes
YMCA Fairthorne Housing
Park Families
Total
NET INCOME / (EXPENDITURE)
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£'000
5
5,711
2,268
601
61
1,151
1,518
630
72
12,017
6,420
1,934
728
94
1,519
1,488
1,204
13,387
(1,370)
127
(1,243)
7,892
6,649		 Restricted
Funds
£'000
75
58
122
-
1
3
-
-
-
259
107
139
-
-
6
53
20
325
(66)
(127)
(193)
1,758
1,565		 Total
Funds
£'000
80
5,769
2,390
601
62
1,154
1,518
630
72
12,276
6,527
2,073
728
94
1,525
1,541
1,224
13,712
(1,436)
-
(1,436)
9,650
8,214

Page 26

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

13. TANGIBLE FIXED ASSETS

GROUP

GROUP
COST
At 1 May 2023
Additions
Disposals
At 30 April 2024
DEPRECIATION
At 1 May 2023
Charge for the period
Disposals
At 30 April 2024
NET BOOK VALUE
At 30 April 2024
At 30 April 2023		 Freehold
property
£'000
17,449
280
-
17,729
2,663
230
-
2,893
14,836
14,786		 Leasehold
property
£'000
282
-
-
282
131
4
-
135
147
151		 Plant and
machinery
£'000
1,583
51
(3)
1,631
1,117
85
(2)
1,200
431
466		 Computer
equipment
£'000
292
7
-
299
261
20
-
281
18
31		 Totals
£'000
19,606
338
(3)
19,941
4,172
339
(2)
4,509
15,432
15,434

The value of land included in freehold properties that is not subject to depreciation is £9,062k (2023:£9,062k) for the group.

CHARITY

COST
At 1 May 2023
Additions
Disposals
At 30 April 2024
DEPRECIATION
At 1 May 2023
Charge for the period
Disposals
At 30 April 2024
NET BOOK VALUE
At 30 April 2024
At 30 April 2023		 Freehold
property
£'000
11,969
254
-
12,223
2,504
171
-
2,675
9,548
9,465		 Plant and
machinery
£'000
1,551
49
(3)
1,597
1,085
83
(2)
1,166
431
466		 Computer
equipment
£'000
292
7
-
299
261
20
-
281
18
31		 Totals
£'000
13,812
310
(3)
14,119
3,850
274
(2)
4,122
9,997
9,962

The value of land included in freehold properties that is not subject to depreciation is £5,046k (2023: £5,046k) for the charity.

Page 27

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

14. DEBTORS

DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income		 Group
2024
£'000
510
46
272
828		 Charity
2024
£'000
349
27
255
631		 Group
2023
£'000
720
46
406
1,172		 Charity
2023
£'000
483
42
334
859

Trade debtors are expressed net of bad debt provisions totalling £360k for the group (2023: £467k) and £115k for the charity (2023: £174k). The charity has also fully provided against balances due from Park Families Limited totalling £672k (2023; £650k)

15. CREDITORS: AMOUNTS DUE WITHIN ONE YEAR

Bank loans and overdrafts
Trade creditors
Tax and social security
Other creditors
Accruals
Deferred income (note 16)
Amounts owed to group undertakings		 Group
2024
£'000
6,053
555
185
87
352
1,373
-
8,605		 Charity
2024
£'000
3,532
536
131
-
320
1,348
1,326
7,193		 Group
2023
£'000
6,391
564
310
78
429
1,645
-
9,417		 Charity
2023
£'000
3,784
494
220
1
346
1,612
854
7,311

16. DEFERRED INCOME - GROUP AND CHARITY

Balance at start of period
Amounts released to income
Amounts deferred in period
Balance at end of period		 Group
2024
£'000
1,645
(1,645)
1,373
1,373		 Charity
2024
£'000
1,612
(1,612)
1,348
1,348		 Group
2023
£'000
1,634
(1,634)
1,645
1,645		 Charity
2023
£'000
1,500
(1,500)
1,612
1,612

Deferred income comprises advanced fees paid for programmes and nursery places together with the future performance related elements of contracts and grants.

Page 28

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

17. BANK LOAN

The bank loans and overdraft facilities are secured over the group's freehold property.

The loans of the charity and fellow group companies are secured on the assets of YMCA Fairthorne Group and its subsidiaries via a bank cross guarantee.

The charity has a £4,500k loan facility, from which £4,350k was drawn down in 2017 and £150k was drawn down in January 2018.

This loan is due to be repaid 5 years after the date of its first draw down. Repayments are being made based on a 19 year repayment profile. Interest accrues on the loan at a rate of 1.99% above the Bank of England base rate.

During 2018, YMCA Fairthorne Housing took out a long term loan for £2,870k; the full amount being drawn down.

This loan is due to be repaid 5 years after the date of draw down. Repayments are being made based on a 20 year repayment profile. Interest accrues on the loan at a rate of 1.99% above the Bank of England base rate.

During both the current and prior period, the bank allowed for capital repayment holidays. No capital repayments were made between October 2021 and March 2022 as a result. Repayments recommenced April 2022 in line with the original loan agreement's agreed repayment plan. Interest was calculated on outstanding balances and paid via the respective bank accounts.

The Trustees acknowledge the continued level of creditors falling due within one year. The balance relates to the Barclays loan, an extension of the loan terms has been agreed with Barclays, the terms of the loan are due for renewal in April 2025. Conversations regarding the renewal continue to take place and the trustees fully intend to renew the terms of the loan and believe the going concern of the organisation is not impacted by the renewal.

An analysis of the maturity of the bank loans is given below:

Amounts falling due within one year Group
2024
£'000
6,053		 Charity
2024
£'000
3,532		 Group
2023
£'000
6,391		 Charity
2023
£'000
3,784

Page 29

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

18. MOVEMENT IN FUNDS

GROUP

Unrestricted
General Fund
Pension Fund
Restricted funds
Restricted Fund
TOTAL FUNDS
CHARITY
Unrestricted
General Fund
Pension Fund
Restricted funds
Restricted Fund
TOTAL FUNDS
Comparatives
GROUP
Unrestricted
General fund
Pension Fund
Restricted funds
Restricted fund
TOTAL FUNDS
CHARITY
Unrestricted
General fund
Pension Fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1 May 2023
£'000
7,012
(363)
6,649
1,565
8,214
At 1 May 2023
£'000
3,098
(363)
2,735
1,561
4,296
At 1 May 2022
£'000
8,231
(339)
7,892
1,758
9,650
At 1 May 2022
£'000
4,340
(339)
4,001
1,738
5,739		 Income
£'000
11,358
211
11,569
483
12,052
Income
£'000
9,414
211
9,625
442
10,067
Income
£'000
12,017
-
12,017
259
12,276
Income
£'000
9,971
-
9,971
202
10,173		 Expenditure
£'000
(11,123)
-
(11,123)
(270)
(11,393)
Expenditure
£'000
(9,748)
-
(9,748)
(227)
(9,975)
Expenditure
£'000
(13,363)
(24)
(13,387)
(325)
(13,712)
Expenditure
£'000
(11,340)
(24)
(11,364)
(252)
(11,616)		 Transfers
between funds
£'000
-
-
-
-
-
Transfers
between funds
£'000
-
-
-
-
-
Transfers
between funds
127
-
127
(127)
-
Transfers
between funds
£'000
127
-
127
(127)
-		 At 30 April
2024
£'000
7,247
(152)
7,095
1,778
8,873
At 30 April
2024
£'000
2,764
(152)
2,612
1,776
4,388
At 30 April
2023
£'000
7,012
(363)
6,649
1,565
8,214
At 30 April
2023
£'000
3,098
(363)
2,735
1,561
4,296

Page 30

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

19. RESTRICTED FUNDS - GROUP AND CHARITY

YMCA Southampton
Winchester House
Hampshire Community Foundation
Andover House
Other Restricted
Charity Total
YMCA Fairthorne Housing
Comparatives
YMCA Southampton
Winchester House
Hampshire Community Foundation
Andover House
Other restricted
Charity Total
YMCA Fairthorne Housing
Park Families
Group Total		 At 1 May 2023
£'000
231
337
269
655
69
1,561
4
4
1,565
At 1 May 2022
£'000
363
342
270
688
75
1,738
-
20
20
1,758		 Income
£'000
-
-
-
-
443
443
40
40
483
Income
£'000
-
-
-
-
202
202
57
-
57
259		 Expenditure
£'000
(6)
(5)
(9)
(33)
(175)
(228)
(42)
(42)
(270)
Expenditure
£'000
(5)
(5)
(1)
(33)
(208)
(252)
(53)
(20)
(73)
(325)		 Transfers
between funds
-
-
185
-
(185)
-
-
-
-
Transfers
between funds
£'000
(127)
-
-
-
-
(127)
-
-
-
(127)		 At 30 April
2024
£'000
225
332
445
622
152
1,776
2
2
1,778
At 30 April
2023
£'000
231
337
269
655
69
1,561
4
-
4
1,565

The restricted funds that have been received and expended in the period comprise:

Restricted funds

YMCA Southampton: Empty Property Grant YMCA Isle of Wight: Empty Property Grant

Nature of fund

Social housing provision at George Williams House and Kimber House. One unit of Kimber House was sold during the prior year.

Social housing provision at Albany View. The three properties at Albany View were all disposed of during the prior year.

Winchester House Hampshire Community Foundation Andover House

Property with restriction on disposal

Newtown Youth Centre Grant

Property with restriction on disposal

Page 31

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

20. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS

Fund balances at 30 April 2024
Group
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
Pension scheme liability
Charity
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
Pension scheme liability
Fund balances at 30 April 2023
Group
Tangible fixed assets
Current assets
Current liabilities
Pension scheme liability
Charity
Tangible fixed assets
Current assets
Current liabilities
Pension scheme liability		 Unrestricted
Funds
£'000
13,808
2,044
(8,605)
-
(152)
7,095
8,373
1,584
(7,193)
-
(152)
2,612
Unrestricted
Funds
£'000
13,942
2,488
(9,417)
(364)
6,649
8,470
1,940
(7,311)
(364)
2,735		 Restricted
Funds
£'000
1,624
154
-
-
-
1,778
1,624
152
-
-
-
1,776
Restricted
Funds
£'000
1,492
73
-
-
1,565
1,492
69
-
-
1,561		 Total
Funds
£'000
15,432
2,198
(8,605)
-
(152)
8,873
9,997
1,736
(7,193)
-
(152)
4,388
Total
Funds
£'000
15,434
2,561
(9,417)
(364)
8,214
9,962
2,009
(7,311)
(364)
4,296

Page 32

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

21. COMMITMENTS UNDER OPERATING LEASES

GROUP
Operating leases which expire:
Within one year
In two to five years
Over five years
CHARITY
Operating leases which expire:
Within one year
In two to five years
Over five years		 2024
£'000
413
978
5,591
6,982
413
978
5,591
6,982		 2023
£'000
559
1,088
5,812
7,459
559
1,088
5,812
7,459

22. EMPLOYEE BENEFIT OBLIGATIONS

YMCA Fairthorne Group participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of YMCA Fairthorne Group and at the year end these were invested in the Mercer Dynamic De-risking Solution, 65% matching portfolio and 35% 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 of 4.56%, the increase in pensions in payment of 3.18% (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 21.5 years, female 24.0 years, and 23.1 years for a male pensioner, female 25.7 years, retiring in 20 years’ time. The result of the valuation showed that the actuarial value of the assets was £103.1m, which represented 92% 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 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. YMCA Fairthorne Group has been advised that it will need to make monthly contributions of £4,213 from 1 May 2024. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. Agreed future deficit contributions have been discounted using a rate of 3% (2023: 3%). The current recovery period is 3 years commencing 1 May 2024.

Within 1 year 1 to 2 years 2 to 5 years After 5 years Total
£'000 £'000 £'000 £'000 £'000
30 April 2024 51 51 50 - 152
30 April 2023 57 58 184 65 364

23. CONTINGENT LIABILITIES

Note 13 to the financial statements includes a property which was subject to a contingent payment on sale at the year end. In the unlikely event that the property was sold at its most recent obtained valuation of £870k, an amount of £348k (representing 40%) of the sale proceeds would have been payable to the Girls' Friendly Society. No liability has been recognised in the financial statements as YMCA Fairthorne Group had no plans to sell the property. This liability expired in August 2024, so going forward there will be no amount to pay.

24. POST BALANCE SHEET EVENTS

The charity known as Park Families Limited under the control of YMCA Fairthorne Group submitted an application to voluntarily strike off and dissolve the company on 21 October 2024. At the time of signing the application process was ongoing but having ceased trading and settled all creditors this should be concluded in line with Companies House timelines.

Page 33

YMCA FAIRTHORNE GROUP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

25. RELATED PARTY DISCLOSURES

YMCA Fairthorne Group has two subsidiaries, YMCA Fairthorne Housing, Park Families Limited and a linked charity, Newtown Youth Centre Charity.

YMCA Fairthorne Housing

During the year YMCA Fairthorne Group received management charges of £158k (2023: £178k) for recharged senior management salary costs and £459k (2023: £378k) for other charges from YMCA Fairthorne Housing. YMCA Fairthorne Housing also paid £321k (2023: £322k) for staff members employed by YMCA Fairthorne Group. In addition to these transactions, YMCA Fairthorne Housing uses the bank accounts of YMCA Fairthorne Group for treasury management purposes. At 30 April 2024 the balance on the intragroup account due to YMCA Fairthorne Housing was £1,326k (2023: £854k).

Park Families Limited

At 30 April 2024 the balance on the intragroup account due from Park Families Limited was £nil (2023:£nil). An application to strike off and dissolve Park Families Limited was submitted to Companies House on 21 October 2024.

26. SUBSIDIARY COMPANIES

The Charity controls a subsidiary undertaking, YMCA Fairthorne Housing, Charity number 1146415, a company limited by guarantee without share capital and with a status of a provider of social housing (registered social number: 4875).

The Charity also controls a subsidiary undertaking, Park Families Limited, Charity number 1105043, a company limited by guarantee without share capital. An application to strike off and dissolve Park Families Limited was submitted to Companies House on 21 October 2024.

YMCA Fairthorne Group is the sole trustee of Newtown Youth Centre (charity number 301950).

The Newtown Youth Centre charity did not trade in the current or preceding period.

The registered office of all subsidiaries is Fairthorne Manor, Botley Road, Curbridge, Southampton, Hampshire, SO30 2GH.

Turnover
Gross profit
Administrative expenses / resources expended
Surplus / (deficit) for the period
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities		 YMCA
Fairthorne
Housing
2024
£'000
1,926
1,926
(1,406)
520
YMCA
Fairthorne
Housing
2024
£'000
7,054
(2,648)
4,406		 YMCA
Fairthorne
Housing
2023
£'000
1,576
1,576
(1,542)
34
YMCA
Fairthorne
Housing
2023
£'000
6,610
(2,724)
3,886		 Park Families
Limited
2024
£'000
58
58
(33)
25
Park Families
Limited
2024
£'000
169
(763)
(594)		 Park Families
Limited
2023
£'000
631
631
(1,308)
(677)
Park Families
Limited
2023
£'000
269
(887)
(618)

Page 34

Issuer

Issuer HWB Chartered Accountants Document generated Thu, 12th Dec 2024 8:53:36 GMT Document fingerprint 1c010820dca3d48058dd9eb6cb2025bf

Parties involved with this document

Document processed

Party + Fingerprint

Fri, 13th Dec 2024 16:15:35 GMT Sat, 14th Dec 2024 12:17:19 GMT Mon, 16th Dec 2024 9:12:29 GMT Mon, 16th Dec 2024 9:12:29 GMT Mon, 16th Dec 2024 9:12:30 GMT

Dave Bennett - Signer (09611c492e39d7c2c4c9b44c85f4c695) Peter Youngs - Signer (5f4066cb01f7af81cfe09c4f275dd2fd) Michaela Johns - Signer (27dc110f8273b22766cc0e3ef8dccf69) Danielle Rossiter - Copied In (a8138caf9094aef29be7581c146ac977) Matt Pickett - Copied In (5212094aafcd8b6a3dc705392fa5c1d8)

Audit history log

Date

Action

Thu, 12th Dec 2024 8:53:36 GMT Thu, 12th Dec 2024 8:53:36 GMT Thu, 12th Dec 2024 8:53:36 GMT Thu, 12th Dec 2024 8:53:36 GMT Thu, 12th Dec 2024 9:11:34 GMT Thu, 12th Dec 2024 9:11:35 GMT Thu, 12th Dec 2024 9:11:36 GMT Thu, 12th Dec 2024 9:23:59 GMT Thu, 12th Dec 2024 9:23:59 GMT Fri, 13th Dec 2024 16:11:43 GMT Fri, 13th Dec 2024 16:12:08 GMT Fri, 13th Dec 2024 16:12:09 GMT

Envelope generated by Accounts Department172.167.47.247 Document generated with fingerprint 207947c6f4115aca68d190aad75973ac172.167.47.247 Document generated with fingerprint 99ec3df4e34a9854b968fc83f96087f0172.167.47.247 Document generated with fingerprint 07c9679a122b9dac599208926b04e0aa172.167.47.247 Document generated with fingerprint c988f90f0a91eababbbf3736c7406e87172.167.47.247 Document generated with fingerprint 1c010820dca3d48058dd9eb6cb2025bf172.167.47.247 Document generated with fingerprint e9d6d43bcedd8258249b9554bf15af82172.167.47.247 Sent the envelope to Dave Bennett (da.bennett@btinternet.com) for signing172.167.47.247 Document emailed to da.bennett@btinternet.com18.171.212.44 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33

Fri, 13th Dec 2024 16:13:43 GMT Fri, 13th Dec 2024 16:13:43 GMT Fri, 13th Dec 2024 16:14:08 GMT Fri, 13th Dec 2024 16:14:08 GMT Fri, 13th Dec 2024 16:14:36 GMT Fri, 13th Dec 2024 16:14:44 GMT Fri, 13th Dec 2024 16:15:08 GMT Fri, 13th Dec 2024 16:15:09 GMT Fri, 13th Dec 2024 16:15:35 GMT Fri, 13th Dec 2024 16:15:35 GMT

Fri, 13th Dec 2024 16:15:36 GMT Fri, 13th Dec 2024 16:15:36 GMT Fri, 13th Dec 2024 23:00:30 GMT Sat, 14th Dec 2024 9:19:48 GMT Sat, 14th Dec 2024 12:16:45 GMT Sat, 14th Dec 2024 12:17:19 GMT Sat, 14th Dec 2024 12:17:19 GMT

Sat, 14th Dec 2024 12:17:19 GMT

Sat, 14th Dec 2024 12:17:19 GMT Sat, 14th Dec 2024 13:43:43 GMT Sun, 15th Dec 2024 8:17:46 GMT Sun, 15th Dec 2024 8:17:46 GMT Sun, 15th Dec 2024 9:24:02 GMT Mon, 16th Dec 2024 9:11:41 GMT Mon, 16th Dec 2024 9:12:29 GMT Mon, 16th Dec 2024 9:12:29 GMT

Mon, 16th Dec 2024 9:12:30 GMT

Mon, 16th Dec 2024 9:12:30 GMT Mon, 16th Dec 2024 9:12:30 GMT Mon, 16th Dec 2024 9:12:30 GMT Mon, 16th Dec 2024 9:12:30 GMT Mon, 16th Dec 2024 9:12:45 GMT

Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett viewed the envelope86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett opened the document email.86.164.48.33 Dave Bennett signed the envelope86.164.48.33 Sent the envelope to Peter Youngs (peteryoungs@virginmedia.com) for signing86.164.48.33 Dave Bennett viewed the envelope86.164.48.33 Document emailed to peteryoungs@virginmedia.com35.179.103.98 Peter Youngs opened the document email.172.225.176.253 Peter Youngs opened the document email.104.28.40.143 Peter Youngs viewed the envelope86.7.227.189 Peter Youngs signed the envelope86.7.227.189 Sent the envelope to Michaela Johns (michaela.johns@hwb-accountants.com) for signing86.7.227.189 Document emailed to michaela.johns@hwb-accountants.com18.171.162.160 Peter Youngs viewed the envelope86.7.227.189 Peter Youngs opened the document email.104.28.86.105 Michaela Johns opened the document email.86.171.198.236 Michaela Johns opened the document email.86.171.198.236 Document emailed to michaela.johns@hwb-accountants.com3.10.55.108 Michaela Johns viewed the envelope20.68.51.181 Michaela Johns signed the envelope20.68.51.181 Sent the envelope to Danielle Rossiter (danielle.rossiter@ymca-fg.org) for signing20.68.51.181

Sent the envelope to Matt Pickett (matt.pickett@hwb-accountants.com) for signing20.68.51.181

This envelope has been signed by all parties20.68.51.181 Michaela Johns viewed the envelope20.68.51.181 Document emailed to danielle.rossiter@ymca-fg.org35.179.182.28 Document emailed to matt.pickett@hwb-accountants.com52.56.205.162 Michaela Johns viewed the envelope20.68.51.181