2025-03-31-accounts

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Registered company:	04430743
Registered charity:	1102301
Registered housing provider:	H4418

ONE YMCA (LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

ONE YMCA Report and financial statements for the year ended 31 March 2025

REPORTS AND ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025

	Page
Corporate information	3
Report of the Trustee Board	4
Operating & financial review and Strategic Report	13
Independent auditor’s report to the members of One YMCA	22
Consolidated statement of comprehensive income	25
Company statement of comprehensive income	25
Consolidated statement of changes in reserves	26
Company statement of changes in reserves	26
Consolidated balance sheet (statement of financial position)	28
Company balance sheet (statement of financial position)	28
Consolidated statement of cash flows	29
Notes to the financial statements	30

ONE YMCA Report and financial statements for the year ended 31 March 2025

CORPORATE INFORMATION

CORPORATE INFORMATION	CORPORATE INFORMATION

TRUSTEE BOARD AND BOARD OFFICERS
Chair	Bishop Richard Atkinson OBE
Treasurer:	Richard Capaldi
Trustees:	Bishop Richard Atkinson OBE John Ball Simon Box Jane Cotton (resigned 16 October 2024) Nicola Grinstead Richard Capaldi John Robinson Alan Victor Sarah Chaudhry Peter Mayne Deborah James (resigned 10 December 2024) Jessica Dollimore (resigned 16 October 2024) Rosa Manning Rachel Redondo(appointed 16 July2025)
Company secretary:	Michael Howe
CORPORATE INFORMATION
Registered company:	04430743
Registered charity:	1102301
Registered housing provider:	H4418
Registered office:	Charter House, Charter Place, Watford, Hertfordshire, WD17 2RT

EXECUTIVE MANAGEMENT TEAM
Chief Executive	Guy Foxell
Deputy Chief Executive	Michael Howe
Chief Financial Officer	Rob Clark
Director of Finance	Lydia Gathogo
AUDITORS, BANKERS, INVESTMENT MANAGER AND SOLICITORS
Auditor (External)	HaysMac LLP, 10 Queen Street Place, London, EC4R 1AG
Auditor (Internal)	Beever and Struthers, 15 Bunhill Row, London, EC1Y 8LP
Bankers:	HSBC Plc, 44-52 Lattimore Road, St Albans, Hertfordshire, AL1 3XL CAF Bank Ltd,25 Kings Hill Avenue,Kings Hill,West Malling,Kent ME19 4JQ
Investment manager:	CCLA Investment Management Ltd, One Angel Lane, 11th Floor, London, EC4R 3AB
Solicitors:	Bates Wells Braithwaite LLP, 10 Queen Street Place, London, EC4R 1BE

ONE YMCA Report and financial statements for the year ended 31 March 2025

REPORT OF THE TRUSTEE BOARD

The Trustee Board presents its annual report together with the audited financial statements for the year ended 31 March 2025.

Organisation

The Group operates across several centres in Hertfordshire, Bedfordshire and Buckinghamshire – and RAF Bases across the country.

The Company is structured by department according to the main service delivery areas which include:  Housing Services (Accommodation and Support),
Family Services (nursery, family support and children’s centres),
Community Services (gym, café and community centres)
Therapeutic Services, support and advice (youth work, counselling and therapeutic support),
Central services (including finance, fundraising, human resources, legal, safety & compliance, ICT and Chaplaincy).

The national structure of the YMCA Federation allows for further support and national policy development though collaboration with partner YMCA associations.

Trustee Board

The Trustee Board is responsible for the overall governance of the Group. Those who have served during the year are set out on page 3. They hold a dual role of being trustees of a registered charity and Registered Provider of Social Housing, as well as being directors for the purposes of the Companies Act.

The Trustee Board is also represented on One YMCA subsidiaries: the Early Childhood Partnership Trustee Board, Signpost Trustee Board, Haven First Trustee Board and One YMCA Development Company Board of Directors.

In accordance with the Articles of Association and the adopted NHF Code of Governance 2020, Trustees serve for a three-year term. At every Annual General Meeting, members of the Trustee Board who have served a term of three years since their appointment or reappointment retire from office. A retiring member of the Trustee Board shall be eligible for re-election for a second and on occasion a third full-term, but then having served a third term, must stand down as an elected member for a period of one year.

Strategic management

The Trustee Board is responsible for setting an appropriate strategy for the Group. It also ensures that relevant performance measures are in place.

During the year the Trustee Board:

Oversaw the operations of the charity and devoted time to strategic direction, especially in light of the major expansion of the charity’s activities by around 17%.
Held Strategy Away Days to lead and guide the development of a new Five Year Strategy to do “More & Better, Together”
Approved a revised Governance Structure and reviewed terms of reference for the Trustee Board, Group companies and all committees to ensure that the Governance Structure remained fit for purpose and the Board continued to effectively oversee all of the charity’s activities
Approved the establishment of a new Quality and Performance Committee. Reviewed the Code of Governance compliance arrangements and confirmed compliance with the exception of those matters set out below.
Reviewed its key policies along with its financial, investment and people strategies.
Undertook succession planning work for both the Trustee Board itself and in respect of key staff.
Ensured that group policies and control frameworks (e.g. financial regulations) applied on a group basis.
Celebrated the successes of the charity and the contribution of those who work and volunteer for it.

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Attracted and trained three new “Trustees in waiting” via a national programme led by One YMCA, called Get on Board, which supports YMCAs to recruit younger trustees to boards.

The Trustee Board utilises a committee structure to undertake some of the detailed work of supervising the activities of the Group in between Trustee Board meetings. The Governance Structure is set out in the following matrix:

ONE YMCA - TRUSTEE BOARD

Sub Committees

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Subsidiary Boards

Working Groups and Forums

ONE YMCA Report and financial statements for the year ended 31 March 2025

Each committee reports progress to the Trustee Board on a regular basis and has established terms of reference. As at 31 March 2025, the membership of each committee was as follows:

Governance & People	Resources	Audit & Risk	Quality and Performance	Property Development	ECP	Signpost
Nicola Grinstead (Chair)	Richard Capaldi (Chair)	John Ball (Chair)	Simon Box (Chair)	Sarah Chaudhry (Chair)	Richard Atkinson (Chair)	Peter Mayne (Chair)
Simon Box (to September 2024)	John Robinson	John Robinson	Rosa Manning	Alan Victor	Nicola Grinstead	Max Beddard
Alan Victor		Richard Capaldi		Anthony Jenkins	Robert Thompson	Jon Sleeper
				Georgia Elliot- Smith

Recruitment of members of the Trustee Board

Members of the Trustee Board are recruited by open and diverse means with sources including:

Trustee recruitment exercises via national voluntary press and volunteering websites, including open social media campaigns.
Recommendation from partner organisations.
Stakeholders.
Contacts made by staff members and members of the Trustee Board.
Recruitment consultants

The Governance and People Committee agrees a standard role description for trustees. All Trustees are interviewed by a panel of Board members. Any preferred candidates initially attend a Trustee meeting as observers and, if that meets the expectations of all, then co-option follows. New Trustees are inducted into the Group using an agreed framework and ongoing training is provided through a combination of trustee updates, attendance at charity conferences / training events and bespoke training. A few of the Trustees also serve or have served as Trustees of other charities and housing associations which broadens the available skills base and the exposure to training and best practice of the social housing and charity sectors. The Governance & People Committee regularly reviews the trustee skills matrix and identifying future needs.

Colleagues

The Group recognises the strength of its colleagues who are committed to the objectives that serve the best interests of its residents and service users. The Group shares information on its objectives, progress and activities through regular management and staff departmental meetings. In addition, an annual staff conference allows the celebration of success, the generation of ideas and positively engages with staff.

The Group is committed to equal opportunities in recruitment, retention and throughout the employee lifecycle.

Gender Pay reporting

The Charity continues to use the Living Wage Foundation’s Real Living Wage as a baseline for employees who are engaged on a permanent YMCA contract of employment. Apprentices are remunerated according to National Minimum Wage rates for workers (as opposed to the much lower apprentice rates). Colleagues covered by TUPE protections retain their existing pay frameworks in most cases. Job evaluation is used to ensure equity and mitigate risks associated with equal pay claims (of which there has been none).

For the purposes of compliance with Gender Pay Gap reporting, employees are treated as ‘male’ or ‘female’ in line with HMRC guidance. We recognise that this does not reflect the potential reality of gender identification within

ONE YMCA Report and financial statements for the year ended 31 March 2025

our employee cohort. At the reporting snapshot date of 5 April 2025, the overall workforce split was 77% female and 23% male (2024: 73% female/ 27% male).

The gender pay gap reporting principles demonstrate the following position as a snapshot at 5 April 2025:

Mean gender pay gap – 17.3% (2024: 16.2%)
Median gender pay gap – 9.5% (2024: 6.1%)
Mean and median bonus gender pay gaps – insufficient data (no bonuses in reference period)
Proportion of males and females in each quartile pay band –
Upper quartile – 30% male & 70% female (2024: 36% / 64%)
Upper middle quartile – 25% male & 75% female (2024: 26% / 74%)
Lower middle quartile – 22% male & 78% female (2024: 24% / 76%)
Lower quartile – 12% male & 88% female (2024: 20% / 80%)

Our gender pay gap remains above average primarily due to the distribution of male and female colleagues across the pay quartiles. We currently have a higher proportion of men in the upper pay bands and more women than men in the lower bands, which impacts the overall average. Our pay policy and job evaluation process are designed to ensure fairness and transparency. Colleagues performing the same role are paid within the same grade and salary range, regardless of gender.

To address the gender, pay gap, we are focusing on improving representation at all levels of the organisation. Initiatives such as our Ignite Academy and Career Pathway are key to supporting career progression, leadership development, and inclusive recruitment practices, helping to create a more balanced workforce over time.

The charity is committed to complying with equal pay legislation for work of equal value and applying the best principles of equity.

Equality, Diversity, Inclusion & Belonging

Good progress towards our desire to be a more inclusive organisation has been made this year building on our becoming a signatory of the Business in the Community “Race at Work Charter” and undertaking preparatory work to gain ISO 30415 (HR Management: Diversity & Inclusion). The charity retained its Investors in People Silver Accreditation, plus the Investor in Volunteers kitemark.

Compliance with taxation

The Group is committed to conducting its business with the utmost integrity, transparency and fairness, and in compliance with all relevant rules, regulations and legislation. The Group will not knowingly engage with any individual or business that does not share our commitment to the prevention of tax evasion. In pursuance of its general obligations, the Group will undertake due diligence on its suppliers to mitigate the risk of facilitation of tax evasion offences and will look to terminate any agreements with suppliers that are not committed to preventing facilitation of tax evasion in compliance with the Criminal Finances Act 2017.

Information security

The Charity is committed to information security and continues to promote good and appropriate collection and use of data and information. The Charity has invested in staff training, new technology and uplifted its working practices. Both One YMCA and Early Childhood Partnership will be seeking re-accreditation of Cyber Essentials Plus in the next financial year. Information security is incorporated into the Group’s internal audit rolling programme.

Indemnity insurance

The Group’s insurance policies indemnify the Trustee Board and Officers against liability when acting for the Group providing their actions are not reckless or fraudulent.

Health and Safety

The Trustees are aware of their responsibilities on all matters relating to health and safety, including fire and building safety. The Group has prepared detailed health and safety policies and provides staff training and

ONE YMCA Report and financial statements for the year ended 31 March 2025

education on health and safety matters. The health and safety forum meets periodically comprising of representatives of all service areas and meetings were chaired by the Executive Team with appropriate Trustee oversight – now reporting into the Quality & Performance Committee.

Investment powers

In accordance with the Articles of Association, the Trustee Board may exercise the power to delegate to any person, company or other organisation any of the Group’s powers of investment, administration or management of all or any part of the money and investments of the Group. Accordingly, the funds held as investments by the Group were managed on behalf of the Trustees by CCLA Investment Management Ltd. The Group has continued to adopt a conservative investment policy that seeks to balance capital preservation and achieving an appropriate return. The cyclical Investment Strategy review process was completed during the year with particular attention being paid to the ethical basis of investment management.

Public Benefit

The Trustee Board held service users at the heart of its approach to formulating the strategic objectives and associated strategies. In doing so, the Trustee Board referred to the guidance contained in the Charity Commission’s general guidance on public benefit when planning for the future. Through the work that the Group undertakes in its service areas, it delivers public benefit and serves a wide range of people, many of whom are vulnerable.

Complaints

We adhere to the Housing Ombudsman’s complaints code and our clear and simple complaints policy is issued to all residents and available to all other service users. Details of our compliance, along with our annual complaints statistics and reporting to the Board are publicly available and published on our website.

Donations

During the year, the Group made donations of £10,000 to New Hope Trust to support their Chaplaincy scheme which supports shared beneficiaries and £5,000 to Charis to support their programs with sex workers within our accommodation (2024: £nil).

Going Concern

The Trustees reviewed the Group’s financial position and financial forecasts for 2025/26, plus the coming seven years, to test the entity’s ability to continue as a going concern. The Executive produced several scenarios including the positive, realistic and severe scenarios modelling income and expenditure as well as cashflows over the foreseeable future. The Resources Committee continues to scrutinise financial information including cashflow forecasts to ensure the resilience of the Charity.

As a result of this ongoing review, the Trustees believe that the Group is well placed to manage external, operational and financial risks successfully. Accordingly, the Trustees have a reasonable expectation that the Charity and the Group have adequate resources to continue in operational existence for the foreseeable future. As a consequence, they continue to support the going concern basis in preparing financial statements.

Reserves Policy

Reserves that are unrestricted funds held by the Group should be sufficient to meet all payment obligations and to contribute to the Group fulfilling its aims and purposes. The target level of free reserves is determined annually, by the Trustees upon recommendation from the Resources Committee and must reflect the overall objectives of the Group’s long-term Financial Strategy and other plans.

The Trustees consider that the unrestricted funds should be classified into two categories:

Unrestricted funds for earmarked projects, objectives and risks, and;
Unrestricted funds that are free reserves held to cover working balances and payment obligations.

ONE YMCA Report and financial statements for the year ended 31 March 2025

The reserves as at 31 March 2025 were as follows: Reserves Housing property revaluation reserve Revenue reserve Restricted reserve Permanent endowment reserve Total unrestricted funds (revenue reserve)	£ 5,119,384 13,068,303 372,508 375,107
	18,935,302

When taking these reserves into account, the revaluation reserve relates to accounting adjustments which are not cash based. The revenue reserve amounted to £13,068,303 of which free reserves total £8,382,472.

In determining the level of unrestricted funds held as free reserves to cover working balances and payment obligations, the Trustees have considered the following matters

Three months of salary and running costs are approximately £6.9 million, and
Business interruption insurance cover is in place with a two-year indemnity period.
The operations of the Charity’s trading subsidiary.

Accordingly, the Trustees consider it prudent to retain working balances of £3 million in cash and/or readily realisable unit trust investments that are not designated or earmarked in order to meet unforeseen risks or obligations. The Trustees are content with the current level of reserves and refer to this as one of our Golden Rules.

Risk Management

Strategic Risk is managed throughout the year through an ongoing cycle of review by the Executive Leadership Team, the Audit and Risk Committee, and the Board.

In the year, the Audit and Risk Committee reviewed and updated the Risk Management Framework. The Committee and the Board also reviewed the RSH Sector Risk Profile and approved a redesigned Strategic Risk Register, with a renewed focus on the principal and emerging risks facing the charity, which aligned to the Secor as a whole.

The Strategic Risk Register sets out the following key risks:

Financial Resilience
Property Health, Safety and Compliance
Economic Environment
Mission / Strategy
Resources Capacity and Capability
Customer Expectations
Supplier Availability and Performance
Regulation and Legislation
Safeguarding
Business Continuity
Data Governance
• Decarbonisation
Cyber Security

Statement of Internal Control Effectiveness

The Trustees acknowledge their overall responsibility for establishing and maintaining the whole system of internal control and for reviewing its effectiveness.

ONE YMCA Report and financial statements for the year ended 31 March 2025

The Charity has a system of internal controls across the three lines of defence and has adopted an annual selfassessment approach to reviewing controls effectiveness across key business areas. In addition, it conducts selfassessment reviews of compliance with key regulatory and legislative requirements and has an annual programme of internal audit to provide additional third line assurance of controls effectiveness to the Board. In the most recent review of internal control effectiveness there were no significant controls weaknesses identified. However, the Senior Leadership Team have identified potential improvements which will be progressed in the coming financial year.

The Associate Director of Governance & Legal maintains a Gifts and Hospitality Register and reports on Probity and Data Governance issues to the Audit and Risk Committee on a quarterly basis. The charity also submits an annual fraud return to the Regulator of Social Housing.

No instances of fraud were identified or reported in the year.

Code of Governance

Following an annual self-assessment, the Trustee Board is pleased to report that the Group complies with the National Housing Federation’s Code of Governance (2020), except for Principal 3.7(3) where a Trustee that had served the maximum tenure of 9 years was reappointed within 2 years of retiring. This arises as John Robinson retired from the Board following a 9-year term in 2018 and was reappointed in 2020. This appointment was compliant with the Associations Articles of Association and the decision was taken to make the appointment on the basis that John Robinson brought skills and knowledge that the Board required during a time of growth and significant turnover, to ensure that the Trustees retained the skills and knowledge required to effectively run the Association.

The Trustee Board continues to review and improve the Charity’s standard of Governance. During the course of the year, the Audit & Risk Committee reviewed the compliance framework as well as approving the annual review of Financial Regulations and governance arrangements.

Annual review of the Governance and Financial Viability Standard

The Trustees have reviewed the Charity’s compliance with the Regulator of Social Housing’s Governance and Financial Viability Standards and confirms that the Group has complied with them.

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEE BOARD FOR THE REPORT AND FINANCIAL STATEMENTS

General Financial Responsibilities

The Trustee Board is responsible for preparing the Report of the Trustee Board, the Operating and Financial Review and Strategic Report and financial statements in accordance with applicable law and regulations.

Company law requires the Trustee Board to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable laws). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and the surplus or deficit of the Company and the Group for that period. In preparing these financial statements, the Trustees are required to:

select suitable accounting policies and apply them consistently.
make judgements that are reasonable and prudent.
state whether applicable UK Accounting Standards and the Statement of Recommended Practice (SORP) Accounting by Registered Housing Providers 2018 update, have been followed, subject to any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

ONE YMCA Report and financial statements for the year ended 31 March 2025

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s and Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and Group and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the Company and Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees confirm that:

so far as each Trustee is aware, there is no relevant audit information of which the Company’s auditors is unaware; and
the Trustees have taken all steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the auditors is aware of that information.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Annual General Meeting

The annual general meeting will be held on 30 September 2025.

The Report of the Trustee Board was approved by the Trustees on 25 September 2025 and signed on their behalf by:

Bishop Richard Atkinson OBE Chair & Trustee

ONE YMCA

Report and financial statements for the year ended 31 March 2025

OPERATING & FINANCIAL REVIEW AND STRATEGIC REPORT

Introduction

The report and financial accounts for the year ended 31 March 2025 sets out the activities and achievements of the Charity.

Principal Activity

The Group’s principal activity is that of the provision of supported accommodation for people facing multiple disadvantages. In addition, the Group continues to deliver services to people of all ages offering the opportunity to take part in children and family services, health & wellbeing, therapeutic & specialist support, community activities and youth work.

The Group’s mission is to enable people to develop their full potential in body, mind and spirit. The mission is inspired by, and faithful to, Christian values to create a supportive and energising community that is open to all, where young people can truly belong, contribute and thrive.

BUSINESS AND FINANCIAL REVIEW

As well as major expansion in our support and accommodation services to homeless individuals and increases in our work with those suffering the effects of Domestic Abuse and Sexual Violence, Trustees were also delighted to secure the Family Support Service to deliver support to young families across Hertfordshire.

Financial review

The Group returned an operating surplus on the Group’s activities of £462,051 (2024: £46,059).

Total comprehensive income for the year returned a surplus of £247,109 (2024: £693,308) for the Group after taking into account unrealised investment loss of £155,059 (2024: £328,330 - gain) during the year. There was no actuarial movement on the YMCA pension fund (2024: £530,249 – gain).

On an ongoing basis, the Trustee Board is committed to achieving a surplus operating budget. With regard to the 2025/26 financial year, a surplus budget has been set.

The Group closely monitors its banking covenants and credit rating. Throughout the year, it was compliant with all covenant obligations.

Housing metrics

The Group has reviewed its metrics in accordance with the Value for Money Code of Practice. The core housing information is set out in the following table.

Metric	Definition	2025	2024
Business Health
Operating Margin - Social Housing	Operating surplus or (deficit) from social housing lettings / turnover from social housinglettings	1.4%	5.1%
OperatingMargin - Overall	Operatingsurplus or deficit overall/turnover overall	1.5%	0.2%
EBITDA MRI interest cover	Earnings before interest, tax, depreciation, amortisation, major repairs/Interest cover	-232.6%	-196.4%
Development
New supply	Number of new units as a % of current units	0%	0%
Gearing	Short term loans + long term loans - cash and cash equivalents + finance lease obligations / Tangible fixed assets: Housing properties at cost(currentperiod)	12.3%	-23.6%
Outcomes
Reinvestment %	Development of new properties (housing) + newly built properties acquired + works to existinghousing properties +	44.3%	19.2%

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Metric	Definition	2025	2024
	capitalised interest on housing properties + schemes completed/Tangible fixed assets housingat cost
Effective Asset Management
ROCE	Operating surplus or (deficit) overall / total assets less current liabilities	1.1%	0.2%
Costper unit
Headline social housing cost	The unit cost metric assesses the headline social housing costper unit as defined bythe regulator	£24,386	£22,438

As a result of a successful property development programme which has attracted and continues to attract public sector funding, in addition to the borrowing secured this financial year, significant additional borrowing will be undertaken in the next financial year which will affect the interest cover and gearing ratios.

Value for money

One of the Group’s objectives is to provide social housing accommodation and support services to meet the needs of its residents. The aim is to achieve a balance between reasonable cost and good quality. Value for money means:

Ensuring effective business planning by setting out at the beginning of each financial year what will be achieved with money prior to it being spent.
Increasing longer term social benefits through the expansion of our internal homelessness prevention pathway, such as with the addition of move-on accommodation units.
Effectively managing performance and approach to risk, to ensure that plans are delivered.

The Group measures its value for money in terms of cash and outputs / outcomes in various ways such as:

Commissioning of external consultation led Cost Consequences and Added Social Value impact reports,
External accreditation,
Financial returns,
Key performance indicators and benchmarking,
Service quality,
Social value benefits to individuals and communities,
Savings to the public purse,
Benefits to the organisation and its people,
Feedback from residents and other service users,
Regulatory Compliance and good practice.

The Group’s value for money strategy is to:

Generate surpluses to maintain a viable organisation, fund the capital programme and to continue to provide and develop services for service users, both present and future.
Ensure that high levels of service user satisfaction are achieved.
Comply with its banking covenants.
Live up to the Group’s Values and Impact Objectives in the delivery of services and value.

As a registered provider of social housing, the value for money objectives over the next three years are to:

Substantially increase the positive social impact on those facing or at risk of facing rough sleeping and homelessness in all geographical areas of operation, by building on and scaling up our proven, recognised and award-winning Dynamic Pathway to Independence (DPI) model.
Embed the non-accommodation aspects of the DPI (e.g. health & wellbeing activities, training & education elements and employment opportunities via specific social enterprises) into the areas we already have a footprint within.

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Establish and develop strong relationships with commissioners and third sector partners in new and emerging areas of geographical operation with a view to understanding unmet needs in the sector, to then resource and deploy the necessary elements of the DPI to maximum effect.
Work to deliver “More & Better, Together” through the active combination of housing, family and specialist therapeutic (e.g. Domestic Abuse / Sexual Violence support) services, leveraging strengths and skills sets to meet local need and secure additional funding.
Seek out and deliver best value through the ongoing efforts to target ‘the right support, in the right way, at the right time, in the right place’ through the mobilisation and embedding of the Digital Support Journey.
Seek out additional financial and non-financial support (e.g. corporate supporters) to underpin the best-value aspects of service delivery, helping to meet the costs of existing services and enabling the mobilisation of new (non-statutory) services to meet identified need.
Work in partnership with a variety of external stakeholders to identify opportunities and meet identified (and unfulfilled needs), delivering meaningful change through innovation and collaboration for the benefit of those who need it most.
Proactively drive the performance and use (e.g. occupancy) of all social housing assets to ensure maximum return on investment, in both social and financial terms, for the benefit of all those supported across our geographical areas of operation.
Embed the resident and service user voice within our activities to ensure a better understanding of need, satisfaction and opportunities to further increase the social and personal impact of our housing and support services.
Maintain investment and efforts across the portfolio with a view to enhancing the living environment in line with the DPI principles, recognising and generating impact from the asset as an inherent part (and able to contribute to) the support journey.
Maintain our position of trusted partner with all of the district and county authorities with which we work to support an ongoing agenda of sector alignment and cohesive pathway progression for those escaping homelessness.

Reporting on Value for Money is a requirement of the Regulator of Social Housing and over the last year, the Group has continued in its drive to deliver value for money. Activities that develop the effectiveness of the Group include:

Initiative	Status, saving or gain	Comments
Social housing
Deliver the budget for social housing	£267k operating surplus (All Housing)	A positive return of 1.4% (2024: 5.1% positive) This is largely due to a much lower bad debt provision resulting from better bad debt recovery.
	£462k operating surplus (Group)	A positive 1.5% return (2024: 0.2%). During the year a much larger family support contract was acquired in the last quarter of the year hence a significant improvement.
	£247k Total Group surplus	A 0.8% (2024: 2.7%) return. There was no actuarial movement on pension during the year (2024: £530k gain), and investment account movement was a loss of £155k(2024: £328kgain).
Deliver good occupancy performance to maximise income and service delivery to beneficiaries	94.5% (2024: 95%)	Overall occupancy for the Housing Division (all services) Decreased slightly, partly due to slower referrals from local authorities (despite the housing crisis) and partly due to some remediation and compliance works, plus new projects coming online, which took time to fill

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Initiative	Status, saving or gain	Comments
Use of the housing repairs system to track workflow and target job completion	System embedding underway	The internal Place & Environment team have substantially improved the compliance and general living-environment aspects of the overall portfolio, completing over 1,400 tasks across the year.A standardised asset format and design, aligned to the DPI, has enabled rapid turnaround of voids and rolling programme of improvement e.g. psychologically informed environment colourways and improved green agenda (e.g. LED lighting). This all alongside substantial growth and the introduction of new assets to support the meeting of distinct local need in key areas. Efforts remain ongoing to identify and mobilise a suitable, cost effective and future proof repairs, maintenance,reportingand compliance system.
Secure new work to increase the units under management and spread overhead costs	Substantial growth into new areas achieved and wide recognition of the effectiveness of the DPI model in terms of positive outcome delivery	The brand and reputation of the Housing Team for getting excellent results has led to a further expansion of our supported accommodation services. During the year, the addition of new leased houses, plus a major purchase and refurbishment of Anderson House in Hitchin have boosted our capacity significantly.
Financial modelling and stress testing	Extensive efforts to inform development activities with ongoing and expanded activities moving forwards	As we continue to increase the number of operational units as part of our ongoing development programme, our focus on the key aspects of financial modelling and stress testing is being maintained. These aspects are led by our internal finance team with support from external specialists, with their outcomes sitting at the heart of key decisions around operational and long-term investment. A long-term financial plan was signed off by the Board alongside the five-year operational strategy
Generate a surplus on Abbots Langley nursery operations and contribute an overhead, while delivering excellent provision	£353k contribution to overheads and generated a surplus of £188k.	The ongoing quality of service delivery resulted in a positive grading from OFSTED during the year (OFSTED GOOD). Whilst recruitment remains a key challenge for Early Years at a national level, the Nursery has maintained excellent occupancy levels ahead of last year’s results, leading to a surplus.
Effectively lead and manage the international Airplay contract	£1m pa contract across 24 RAF bases, in partnership with 10 YMCAs	Having led the other YMCAs to successfully win this major contract, our YMCA needs to focus on influencing and inspiring excellent attendance and outcomes across the Federation, while also delivering high quality youth and children’s work in the seven bases we are responsible for.
Early Childhood Partnership
Children’s Centre services
Effective delivery of the Children’s Centre contract	Successfully deliver the contract	The budget maximised the deployment of financial resources for beneficiaries. The children’s centre contract is underpinned by a series of key performance indicators (KPI) sitting within four performance areas. These KPIs are regularly monitored by the Trustee Board, Council and managers. The team members are clear about which KPIs their activities contribute to, and they understand the links between the KPIs and achieving good outcomes for our children and families The design and delivery of the timetable of activities is informed by local available data. There is an appropriate split between universal and targeted activities. The staff work hard to ensure a high-quality universal service offer is available both face to face and remotely. The Group will seek ongoing cost mitigation in consultation with the Commissioner,while deliveringhighqualitysupport.

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Initiative	Status, saving or gain	Comments
Deliver specialist and Therapeutic services	ISVA (Independent Sexual Violence Advice) IDVA (Independent Domestic Violence Advice)	These services are delivering well above commissioner expectations with excellent feedback from clients supported through their traumatic experiences
	Other grant funded work	Our Horizons team provide support for victims of domestic abuse through our My Choice or Liberty programmes. We have a bespoke service for male victims as well, which provides specialised support sessions. Our play therapy work has been extended to provide additional funding across Central Bedfordshire and Bedford Borough for children who have witnessed domestic abuse. These generally take place in schools and have created new opportunities for a member of staff to train as aplaytherapist.
Signpost
Signpost Youth Counselling	Resecure vital funding for youth counselling and therapy activities	Following the conclusion of an extended £100k pa contract to deliver counselling sessions to young people in south west Herts, Signpost secured a new contract of a similar value to serve the entire county with Play Therapy, plus school and community services – ensuring continued local impact.

The Group’s ongoing commitment to value for money and continuous improvement will remain a high priority given the challenges to income streams that every social housing provider faces and the need to keep service users at the heart of decision making. Specific on-going activities will include:

Performance managing outcomes and costs,
Responding to service user needs,
Promoting a high social housing occupancy with good rent collection levels,
Responding to commissioner funding decisions,
Increasing the diversity of our workforce, being deliberate about our inclusive attitude and together developing ways to ensure that everyone has equality of opportunity,
Investing in the culture and values to maximise the Group’s potential, value for money and continuous improvement.

In conjunction with the Group’s strategic objectives and five-year strategy, the 2025/26 value for money approach will provide the foundation for continuous improvement and efficiency developments.

Objectives and Strategy

The charitable objects of the Group arise from its acceptance of the Basis of Union of the YMCA of England, Ireland and Wales, adopted by the British YMCA Assembly held in Birmingham in 1973, which are:

To unite those who, regarding Jesus Christ as their God and Saviour according to the Holy Scriptures, desire to be His disciples in the faith and in their life, and to associate their efforts for the extension of His Kingdom.
To lead young people to the Lord Jesus Christ and to fullness of life in Him.
To provide or assist in the provision, in the interests of social welfare of facilities for recreation and other leisure time occupation for men and women with the object of improving their conditions of life.
To provide or assist in the provision of education for persons of all ages with the object of developing their physical, mental or spiritual capacities.
To relieve or assist in the relief of persons of all ages who are in conditions of need, hardship or distress by reason of their social, physical or economic circumstances.
To provide residential accommodation for persons of all ages who are in need, hardship or distress by reason of their social, physical or economic circumstances.

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Various strategies are employed to achieve the charity’s objectives within service areas of:

Accommodation,
Family work,
Health and wellbeing,
Support and advice,
Training and education.

Achievements and performance

The last year has continued the Group's trajectory of growth and performance improvements, while also strengthening our culture.

We have seen major steps forward in the commencement of our largest ever building project (100 bedspaces in Welwyn Garden City) as well as securing multi-million-pound grants from Homes England and local authorities to deliver other supported accommodation projects, most notably in Hitchin. These allowed us to increase our number of supported bedrooms beyond 700 and created a combined total of £20m Social Value and savings to the public purse.
We secured the county-wide contract to deliver Family Support Services to thousands of families in our area, which will complement many of our other community services and provide bases in 46 locations from which to operate
We successfully secured Ofsted Registration for our U18 supported accommodation services and look forward to expanding this rapidly as the need increases
We reduced colleague turnover by 50%, through a range of new people and culture measures, which helps to consolidate the investment in recruitment and initial training
We welcomed the activities and staff of Dignify to the charity, allowing us to dovetail specific research, education and advocacy relating to the effects of pornography on our young beneficiaries
The number and range of people we helped can be found in the infographics below and with fuller details on our website, including a suite of service user stories and videos.

We have helped and supported local people to belong, contribute and thrive in their communities, specifically including:

ONE YMCA Report and financial statements for the year ended 31 March 2025

More information on our achievements as a Group, plus inspiring videos and case studies of those we’ve supported can be found at: https://oneymca.org/what-we-do/

Accreditations

The Group continues to work hard to secure and maintain accreditations that reflect the quality, compliance and impact of work undertaken. These currently embrace:

a) Investors in People – Silver,
b) Investors in Volunteering,
c) Ofsted – Good – for Charters Nursery, Abbots Langley,
d) Ofsted Registration for U18 Supported Accommodation
e) Centre for Housing Support – Service Excellence Standards,
f) SafeContractor - Charity,
g) Cyber Essentials Plus – One YMCA and Early Childhood Partnership,
h) Fundraising Regulator,
i) Disability Aware,
j) Mindful Employer,
k) Leading Light – community based Domestic Abuse services,
l) Race at Work Charter,
m) Respect - services for perpetrators of domestic abuse,
n) Lime Culture – Sexual Violence support,
o) Accredited Living Wage Employer.

The Group will continue to seek accreditations where it is in the best interests of the charity and its beneficiaries to do so. This currently includes ISO30415 (Human Resource Management – Diversity & Inclusion).

ONE YMCA Report and financial statements for the year ended 31 March 2025

Future plans

Having completed our successful Mission 25 Strategy, we have embarked on a new five-year strategy, which was shaped over many months by several hundred pieces of feedback from colleagues, beneficiaries and partners, then refined by senior leaders and eventually Trustees:

Future of social housing

The social housing strategy now sits firmly in the overarching More & Better, Together strategy which will ensure that it remains a key part of our focus and growth

Several key redevelopment / development activities sit at the heart of the strategy, each with varying degrees of secured (or in final stages of negotiation) public sector funding.

Resident involvement

The inclusion of resident feedback and the ‘lived experience’ voice sits at the heart of our activities and is further enhanced through the activities of #Mission25, our strategy to double our impact between 2020 and 2025. There are a number of concepts contained in the mission, but the most relevant to this topic being:

ProjectConnect
MakingHomes

Within these concepts and actively underpinned by the move to mobilise the Digital Support Journey, there is a specific focus to ‘connect’ stakeholders from across the organisation. This will bring together staff, volunteers and residents from all areas with the specific aim of eliciting feedback, opinion and suggestions.

Alongside this our overarching commitment, via the Chaplaincy Team, to attract, train and embed volunteers will remain a constant. This extra resource provides a completely different voice to the support / resident journey and offers considerable extra value.

ONE YMCA Report and financial statements for the year ended 31 March 2025

Risks and uncertainties

Risks that may prevent the Group achieving its objectives are considered and reviewed by the Trustee Board, Audit & Risk Committee and Executive Management Team on a revolving basis. The risks are recorded and assessed in terms of their impact and probability. Major risks, presenting the greatest threats to the Company and Group recorded in the Strategic Risk Register (SRR). The SRR is reviewed at every Audit & Risk Committee meeting and Trustee Board Meeting. The Strategic Risks set out in the SRR over the last 12 months related to:

Financial Resilience
Property Health and Safety Compliance
The Economic Environment
Effective controls and direction of the Mission / Strategy
Resource Capacity and Capability
Customer Expectations
Supplier Availability and Performance
Regulation and Legislation
Safeguarding
Business Continuity
Data Governance
• Decarbonisation

The principal financial risks relate to loss of income and/or contracts and development programme cost escalation. Whilst the Audit & Risk Committee reviews controls and standards, the Resources Committee proactively monitors and challenges the financial and service performance of the Group.

On an annual basis, the Group reviews its key policies and controls frameworks. These included the financial regulations as well as the Code of Governance, committee terms of reference, code of conduct, safeguarding, fraud, whistleblowing, health & safety, UK GDPR, equal opportunities and risk management policies.

The risk management and internal controls arrangements are described in more detail in the Report of the Trustee Board on page 10 .

Borrowings

At year end, the Group had long term borrowings of £11,062,280, (2024: £4,214,601) which are secured against income generating assets: the supported housing hostels. In approving the Operating and Financial Review, the Trustees are also approving the Strategic Report in their capacity as directors of the Group.

The Operating and Financial Review and the Strategic Report were approved by the Trustee Board on 25 September 2025 and signed on their behalf by:

_____ Bishop Richard Atkinson OBE Chair and Trustee

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Independent auditor’s report to the members and trustees of One YMCA

Opinion

We have audited the financial statements of One YMCA for the year-ended 31 March 2025 which comprise the consolidated and company statements of comprehensive income, the consolidated and company statements of changes in reserves, the consolidated and company 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:

give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2025 and of the group’s and parent charitable company’s surplus for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing from January 2019; and
have been prepared in accordance with the requirements of the Companies Act 2006.

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

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustee Board (which includes the directors’ report), and the Operating and Financial Review and Strategic Report. 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

ONE YMCA Report and financial statements for the year ended 31 March 2025

work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Trustee Board, the Operating and Financial Review and the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report contained within the Report of the Trustee Board, the Operating and Financial Review and the Strategic Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustee Board, the Operating and Financial Review or the 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:

adequate accounting records have not been kept by the parent charitable company; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees for the financial statements

As explained more fully in the Statement of Responsibilities of the Trustee Board set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 the trustees 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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.

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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

ONE YMCA Report and financial statements for the year ended 31 March 2025

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulation of registered providers of social housing, Ofsted, and Health and Safety regulation, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011 and the Housing and Regeneration Act 2008, and we considered other factors such as tax compliance.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to areas of estimation uncertainty and manual accounting journals. Audit procedures performed by the engagement team included:

Inspecting correspondence with regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud;
Evaluating management’s controls designed to prevent and detect irregularities;
Identifying and testing a sample of manual journals; and
Challenging assumptions and judgements made by management in their accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 charitable company'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 charitable company'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 charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Tracey Young (Senior Statutory Auditor) For and on behalf of HaysMac LLP, Statutory Auditor Date: 23/10/2025

10 Queen Street Place London EC4R 1AG

ONE YMCA Report and financial statements for the year ended 31 March 2025

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

FOR THE YEAR ENDED 31 MARCH 2025
Turnover Operating expenditure Operating Surplus (Loss) on disposal of property, plant and equipment Interest receivable and other income Interest and financing costs Movement in fair value of financial instruments Gain on transfer of assets at fair value Surplus for the year Actuarial gain relating to YMCA pensions scheme Total comprehensive income for the year COMPANY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2025 Turnover 3 Operating expenditure 3 Operating Surplus 4 (Loss) on disposal of property, plant and equipment 5 Interest receivable and other income 6 Interest and financing costs 7 Movement in fair value of financial instruments 13 Gain on transfer of assets at fair value 27 Surplus for the year Actuarial gain relating to YMCA pensions scheme 19 Total comprehensive income for the year	3 3 4 5 6 7 13 27 19	2025 2024 £ £ 30,951,955 26,468,821 (30,489,904) (26,422,762) 462,051 46,059 (13,043) (117,652) 288,747 230,982 (370,839) (324,660) (155,059) 328,330 35,252 - 247,109 163,059 - 530,249 247,109 693,308 2025 2024 £ £ 29,204,238 24,793,861 (28,625,642) (24,648,851) 578,596 145,010 (13,043) (117,652) 271,610 224,791 (370,839) (324,660) (155,059) 328,330 35,252 246,675 346,517 502,494 - 530,249 346,517 1,032,743	2024 £ 26,468,821 (26,422,762)
			46,059 (117,652) 230,982 (324,660) 328,330 -
			163,059 530,249
			693,308
		2025 £ 29,204,238 (28,625,642) 578,596 (13,043) 271,610 (370,839) (155,059) 35,252 346,517 - 346,517

The accompanying notes form part of these financial statements.

ONE YMCA

Report and financial statements for the year ended 31 March 2025

CONSOLIDATED STATEMENT OF CHANGES IN RESERVES FOR THE YEAR ENDED 31 MARCH 2025

GROUP	Income and expenditure reserve	Restricted reserve	Permanent endowment reserve		Property revaluation reserve	Total
	£	£	£		£	£
Balance at 1 April 2024	12,763,733	355,835	383,632		5,184,993	18,688,193
Surplus from income and
expenditure account	261,701	(6,067)	(8,525)		-	247,109
Transfer from revenue reserve to
restricted reserve	(22,740)	22,740	-		-	-
Transfer from Property Revaluation
Reserve to income and expenditure
reserve	65,609	-	-		(65,609)	-
Balance at 31 March 2025	13,068,303	372,508	375,107		5,119,384	18,935,302
COMPANY		Income and expenditure	Restricted reserve		Property revaluation	Total
		reserve			reserve
		£		£	£	£
Balance at 1 April 2024		12,522,840	34,595		5,184,993	17,742,428
Surplus from income and expenditure
account		362,826	(16,309)		-	346,517
Transfer from revenue reserve to restricted
reserve		(115,312)	115,312		-	-
Transfer from revaluation reserve to
income and expenditure reserve		65,609		-	(65,609)	-
Balance at 31 March 2025		12,835,963	133,598		5,119,384	18,088,945

ONE YMCA

Report and financial statements for the year ended 31 March 2025

GROUP	Income and expenditure reserve	Restricted reserve	Restricted reserve	Permanent endowment reserve	Permanent endowment reserve	Property revaluation reserve	Total
	£		£		£	£	£
Balance at 1 April 2023	11,993,147	358,978			392,158	5,250,602	17,994,885
Surplus from income and
expenditure account	729,751	(27,917)			(8,526)	-	693,308
Transfer from revenue reserve
to restricted reserve	(24,774)	24,774			-	-	-
Transfer from Property
Revaluation Reserve to
income and expenditure
reserve	65,609		-		-	(65,609)	-
Balance at 31 March 2024	12,763,733	355,835			383,632	5,184,993	18,688,193
COMPANY		Income and expenditure	Restricted reserve		Property revaluation		Total
		reserve			reserve
		£		£		£	£
Balance at 1 April 2023		11,430,597		28,486	5,250,602		16,709,685
Surplus from income and expenditure
account		1,026,634		6,109		-	1,032,743
Transfer from revaluation reserve to
income and expenditure reserve		65,609		-	(65,609)		-
Balance at 31 March 2024		12,522,840		34,595	5,184,993		17,742,428

ONE YMCA

Report and financial statements for the year ended 31 March 2025

BALANCE SHEET Registered company 04430743

AS AT 31 MARCH 2025

		Group	Group	Company	Company
	Notes	2025	2024	2025	2024
		£	£	£	£
Fixed assets
Tangible fixed assets-
Housing properties	11	32,329,111	18,679,027	32,409,469	18,399,034
Other tangible fixed
assets	12	2,252,150	1,976,847	2,252,150	1,976,847
Investments	13	3,305,042	3,460,101	3,305,043	3,460,102
		37,886,303	24,115,975	37,966,662	23,835,983
Current assets
Trade and other debtors	14	5,954,140	5,882,866	5,729,181	6,098,761
Stock		6,354	4,988	6,354	4,988
Cash and cash
equivalents		7,081,295	8,620,595	6,046,438	7,185,418
		13,041,789	14,508,449	11,781,973	13,289,167
Creditors: falling due
within one year	15	(7,964,358)	(6,001,956)	(7,659,958) (5,477,147)	(7,659,958) (5,477,147)
Net current assets		5,077,431	8,506,493	4,122,015	7,812,020
Creditors: falling due
after more than one
year	16	(23,893,530)	(13,719,802)	(23,893,530) (13,719,802)	(23,893,530) (13,719,802)
Pension funds	19	(86,202)	(165,773)	(86,202)	(165,773)
Provision for liabilities and
charges	18	(48,700)	(48,700)	(20,000)	(20,000)
Total net assets		18,935,302	18,688,193	18,088,945	17,742,428
Capital and reserves
Housing property
revaluation reserve		5,119,384	5,184,993	5,119,384	5,184,993
Revenue reserve		13,068,303	12,763,733	12,835,963	12,522,840
Restricted reserve	22	372,508	355,835	133,598	34,595
Permanent endowment
reserve	22	375,107	383,632	-	-
Total reserves		18,935,302	18,688,193	18,088,945	17,742,428

The accompanying notes form part of these financial statements. The accounts were approved by the Trustee Board on 25 September 2025 and were signed on its behalf by:

Richard Atkinson ____ Chair and Trustee R Capaldi Richard Capaldi______ Treasurer and Trustee

ONE YMCA

Report and financial statements for the year ended 31 March 2025

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Net cash generated from operating activities Surplus for the financial year Adjustments for non-cash items: Depreciation of tangible fixed assets Write off of WIP Grants amortisation (Increase) in trade and other receivables Increase in trade and other creditors Decrease/(Increase) in stocks Loss / (Gain) on fixed assets disposals Movement in fair value of financial instruments Actuarial gain relating to YMCA Pension Fund Pension costs less contributions payable Interest payable Investment income receivable Cash generated from / (used in) operating activities Cash flow from investing activities Purchase of tangible fixed assets Transfer of assets on merger Sale of tangible fixed assets Investment income received Grants received Net cash from investing activities Cash flows from financing activities Interest paid Repayments of borrowings New borrowings Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Cash and cash equivalents at 31 March Cash at bank	2025 £ 2024 £ 247,109 693,308 728,755 695,555 132,551 30,270 (127,682) (112,294) (71,274) (2,765,313) 1,915,972 (1,366) 1,507,015 (1,315) 13,043 117,652 155,059 (328,330) - (530,249) (27,168) (105,456) 370,839 324,660 (288,747) (230,982)
	3,047,091 (705,479)
	(14,799,736) (4,214,000) - - 140 2,976,518 371,414 230,982 3,702,770 6,563,859
	(10,725,412) 5,557,359
	(594,911) (317,252) (192,964) (74,934) 6,926,896 -
	6,139,021 (392,186)
	(1,539,300) 4,459,694 8,620,595 4,160,901
	7,081,295 8,620,595
	7,081,295 8,620,595
	7,081,295 8,620,595

The accompanying notes form part of these financial statements.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Status

The Company is a company limited by guarantee, registered under the Companies Act 2006 registration number 4430743, a registered charity number 1102301 and registered with the Regulator of Social Housing as a social housing provider registration number H4418. The charity meets the definition of a public benefit entity under FRS 102.

The registered office is Charter House, Charter Place, Watford, Hertfordshire WD17 2RT.

Each member of the Company undertakes to contribute such amount as may be required (not exceeding £1.00) to the assets of the Company in the event of the same being wound up while he or she is a member or within one year after he or she ceases to be a member for payment of the debt and liabilities of the Company contracted before he or she ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves. If upon the winding up or dissolution of the Company there remains, after the satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid or distributed among the members of the Company but shall be transferred to The National Council of Young Men’s Christian Association (Incorporated) for its general purposes.

2. Principal accounting policies

The financial statements are prepared in accordance with Financial Reporting Standard 102 and the Statement of Recommended Practice: accounting by registered social housing providers 2018 (“SORP”) and comply with the Accounting Direction for private registered providers of social housing 2022.

No judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. No complex financial instruments are held.

(a) Basis of accounting

Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy notes. Those assets measured at fair value are re-measured at each balance sheet date.

(b) Basis of consolidation

The Group financial statements consolidate those of the Company and its subsidiary undertakings of Early Childhood Partnership, Signpost, Haven First, One YMCA Development Company and Stevenage Consolidated Charities drawn up to 31 March 2025. A transfer of charitable undertaking from Haven First to One YMCA took place on 31 March 2023 whereby the activities, assets and liabilities of Haven First transferred to One YMCA. Intra-group transactions and balances are eliminated in full in accordance with FRS 102.

The Group’s business activities, its current financial position and factors likely to affect its future development are set out within the Trustees’ Report. On this basis, the Trustee Board has a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, being a period of twelve months after the date on which the report and financial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements. No material uncertainties exist.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

(d) Turnover

Turnover comprises rental and service charge income receivable in the year and other services at invoiced value (excluding VAT) of goods and services supplied in the year.

Revenue grants are receivable when the conditions for receipts of agreed grant funding have been met. Charges for support services funded by Housing Related Support and Family & Children’s Centres are recognised as they fall due under the contractual arrangements with Administering Authorities.

Where an asset is acquired at undervalue a notional grant is recognised in respect of the difference between the purchase price and the fair value of the asset. The trustees determine the fair value based on the available data including external valuations.

(e) Expenditure

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 categories, they have been allocated to activities on a basis consistent with the use of resources. Support and other central costs have been apportioned to each activity on the basis of turnover and staff numbers.

(f) Debtors and creditors

Short-term debtors are measured at transaction price, less any impairment and short-term creditors are measured at the transaction price.

(g) Housing properties

Housing properties are principally properties available for rent. The properties at Peartree Lane, Welwyn Garden City and Charter House, Watford were revalued upon the implementation of FRS102 and SORP. The Company elected to measure housing properties on the date of transition at its fair value and use that fair value as its deemed cost at that date. The valuation is based upon an Existing Use Value for Social Housing (EUV-SH) basis by an independent professional advisor qualified by the Royal Institute of Chartered Surveys to undertake valuations.

Housing properties are stated at cost less depreciation, the cost of future additions being the cost of acquiring land and buildings and expenditure incurred in respect to improvements.

Work to existing properties which replace a component that has been treated separately for depreciation purposes, along with those works that result in an increase in net rental income over the lives of the properties, thereby enhancing the economic benefits of the assets, are capitalised as improvements.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

(h) Housing properties and depreciation

The Company separately identifies the major components that comprise its housing properties, and charges depreciation, so as to write down the cost of each component to its estimated residual value, on a straight-line basis, over its estimated useful economic life.

The Company depreciates the major components of its housing properties at the following annual rates:

Component Structure (Leased) Structure Roofs Windows Kitchens Bathrooms Heating Lifts	Useful economic life
	Residue of lease 80 years 30 years 20 years 20 years 30 years 20 years 15 years

Where the unexpired lease term is shorter than the longest component life envisaged, the unexpired term of the lease is adopted as the useful economic life.

(i)

Other tangible fixed assets and depreciation

Depreciation is provided evenly on the cost of other tangible fixed assets to write them down to their estimated residual values over their expected useful lives. The principal annual rates used for other assets are:

Component Non-Housing Leasehold improvements Fixture and fittings Motor Vehicles ICT	Useful economic life Over the term of the lease 5 years 5 years 3 - 7 years (depending upon items)

(j)

Operating leases

Rentals payable under the operating leases are charged on a straight-line basis over the lease term. The benefits of lease incentives entered into after the date of transition to FRS 102 are recognised in income and expenditure over the lease period.

The Company has taken advantage of the exemption in FRS 102 section 35 to continue to treat incentives received on leases entered into before the date of transition on the same basis as at the date of transition.

(k)

Pensions

YMCA Pension Plan

The Company 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 the company.

As described in note 19 the Company has a contractual obligation to make pension deficit payments over the period to April 2027, accordingly this is shown as a liability in these accounts. In addition, the company is required to contribute £27k pa (2024: £26k pa) to the operating

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made.

Group Personal Pension Plan (defined contribution)

The Company also makes contributions to a group personal pension plan (defined contribution) provided by Aviva which is open to all employees.

(l)

Social Housing Grant

Social Housing Grant (SHG) is receivable from Homes England as a contribution towards the capital cost of housing schemes. The Company has taken advantage of transitional relief for deemed cost and treated all SHG grant on transition under the performance model in accordance with SORP. Any subsequent SHG grants received for housing properties are recognised in income over the useful life of the housing property structure and, where applicable, its individual components (excluding land) under the accruals model.

SHG due from Homes England or received in advance is included as a current asset or liability. SHG is subordinated to the repayment of loans by agreement with Homes England. SHG released on sale of a property may be repayable but is normally available to be recycled and is credited to a Recycled Capital Grant Fund and included in the balance sheet in creditors.

Where individual components are disposed of and this does not create a relevant event for recycling purposes, any grant which has been allocated to the component is released to the income and expenditure account. Upon disposal of the associated property, the Company is required to recycle these proceeds as such a contingent liability is disclosed to reflect this.

(m)

Other Grants

Other grants are receivable from local authorities and other organisations and are accounted for under the accruals model. Capital grants are recognised in income over the expected useful life of the asset. Grants in respect of revenue expenditure are credited to the income and expenditure in the same period as the expenditure to which they relate.

(n)

Investments

Investments held as fixed assets are valued at mid-point of the quotation in the Stock Exchange daily official list. Any movements in the fair value of investments are recognised in income and expenditure.

(o)

Interest Free Loans

Long term loans carrying no interest are disclosed at amortised cost using the market rate of similar debt instruments – the effective interest method.

(p) Provisions for Liabilities

Provision has been made for expected property costs at the end of the leases held by the Early Childhood Partnership subsidiary. This is based on the lease terms, management’s assessment of the property condition and external evidence supporting the likely costs. This estimation involves a level of judgment and will be reassessed annually.

(q) Holiday pay accrual

The group recognises an accrual for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

within the next 12 months. The accrual is measured at the salary cost payable for the period of absence.

(r) Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. The revaluation of properties is reported separately in the property revaluation reserve. This is the difference between the fair value of social housing properties and the historical cost carrying value.

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.

Permanent endowment funds preclude them from being sold or used for any purpose other than the provision of charitable accommodation.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

(s) Transfer of Signpost and Haven First

The assets and liabilities of Signpost and Haven First were recognised in 2023 at the Trustee’s best estimate of their fair value.

Report and financial statements for the year ended 31 March 2025

ONE YMCA

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Group - Turnover, operating costs and operating surplus	3. Group - Turnover, operating costs and operating surplus
2025	Turnover	Operating costs	Operating surplus/ (deficit)
	£	£	£
Social Housing:Rent receivable	13,492,863	(13,309,797)	183,066
Other social housing activities:
Housing related support	5,435,545	(5,351,952)	83,593
Total – social housing activities	18,928,408	(18,661,749)	266,659
Other non-social housing	177,909	(177,909)	-
Total housing activities	19,106,317	(18,839,657)	266,659
Non-social housing activities
Health & wellbeing – budget gyms	80,926	(139,571)	(58,645)
Health & wellbeing – other	107,113	(200,908)	(93,795)
Child and family services	6,145,000	(5,971,494)	173,506
Nursery	1,510,664	(1,358,452)	152,212
Youth	1,292,036	(1,456,298)	(164,262)
Community Centre	613,272	(652,917)	(39,645)
Government grants taken to income	1,710,044	(1,710,044)	-
Other	386,583	(160,562)	226,021
	11,845,638	(11,650,246)	195,392
	30,951,955	(30,489,904)	462,051

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Group – Turnover, operating costs and operating surplus

roup – Turnover, operating costs and operating surplus	roup – Turnover, operating costs and operating surplus
3. Group - Turnover, operating costs and operating surplus
2024	Turnover	Operating costs	Operating surplus/ (deficit)
	£	£	£
Social Housing:Rent receivable	12,835,242	(12,197,675)	637,567
Other social housing activities:
Housing related support	3,601,324	(3,393,370)	207,954
Total – social housing activities	16,436,566	(15,591,045)	845,521
Other non-social housing	64,307	(64,307)	-
Total housing activities	16,500,873	(15,655,352)	845,521
Non-social housing activities
Health & wellbeing – budget gyms	323,276	(508,329)	(185,053)
Health & wellbeing – other	98,348	(216,498)	(118,150)
Child and family services	5,252,409	(5,154,572)	97,837
Nursery	1,258,101	(1,325,399)	(67,298)
Youth	1,318,814	(1,485,177)	(166,363)
Community Centre	491,584	(683,503)	(191,919)
Government grants taken to income	1,164,433	(1,164,433)	-
Other	60,983	(229,499)	(168,516)
	9,967,948	(10,767,410)	(799,462)
	26,468,821	(26,422,762)	46,059

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Company - Turnover, operating costs and operating surplus

2025 Social Housing:Rent receivable Other social housing activities: Housing related support Total – social housing activities Other non-social housing Total housing activities Non-social housing activities Health & wellbeing – budget gyms Health & wellbeing - other Child and family services Nursery Youth Community Centre Government grants taken to income Other	Turnover Operating costs Operating surplus/ (deficit) £ £ £ 13,492,863 (13,301,272) 191,591 5,435,545 (5,351,952) 83,593
	18,928,408 (18,653,224) 275,184 177,909 (177,909) -
	19,106,317 (18,831,133) 275,184
	80,926 (139,571) (58,645) 107,113 (200,908) (93,795) 4,491,278 (4,275,375) 215,903 1,510,664 (1,358,452) 152,212 1,292,036 (1,456,298) (164,262) 613,272 (652,917) (39,645) 1,174,390 (1,174,390) - 828,242 (536,597) 293,919
	10,097,921 (9,794,510) 305,687
	29,204,238 (28,625,642) 578,596

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Company - Turnover, operating costs and operating surplus

2024 Social Housing:Rent receivable Other social housing activities: Housing related support Total – social housing activities Other non-social housing Total housing activities Non-social housing activities Health & wellbeing – budget gyms Health & wellbeing - other Child and family services Nursery Youth Community Centre Government grants taken to income Other	Turnover Operating costs Operating surplus/ (deficit) £ £ £ 12,835,242 (12,180,625) 654,617 3,601,324 (3,393,370) 207,954
	16,436,566 (15,573,995) 862,571 64,307 (64,307) -
	16,500,873 (15,638,302) 862,571
	323,276 (508,329) (185,053) 98,348 (216,498) (118,150) 3,551,822 (3,458,272) 93,550 1,258,101 (1,325,399) (67,298) 1,318,814 (1,485,177) (166,363) 491,584 (683,503) (191,919) 763,539 (763,539) - 487,504 (569,832) (82,328)
	8,292,988 (9,010,549) (717,561)
	24,793,861 (24,648,851) 145,010

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Turnover, operating costs and operating surplus (continued)

Operating costs for social housing:

	Group			Company	Company
	2025	2024		2025		2024
Management	(8,493,592)	(6,902,603)	(8,493,592)			(6,902,603)
Services	(1,909,191)	(2,153,179)	(1,909,191)			(2,153,179)
Routine maintenance	(1,133,410)	(844,378)	(1,133,410)			(844,378)
Planned maintenance	(482,624)	(688,259)	(482,624)			(688,259)
Rent losses from bad
debts	(934,026)	(1,209,746)	(934,026)			(1,209,746)
Depreciation of housing
properties and
equipment	(356,954)	(399,510)	(348,429)			(382,460)
	(13,309,797)	(12,197,675)	(13,301,272)		(12,180,625)
Void losses: notional
calculation of income
lost from vacant rooms	(866,244)	(711,940)	(866,244)			(711,940)
Number of registered
accommodation units	733	638		733		638
4. Operating Surplus
		Group			Company
		2025	2024	2025		2024
The operating surplus is arrived at after		£	£		£	£
charging:
Depreciation		728,755	695,555	720,230		678,505
Operating lease payments:
- Land and buildings		1,989,941	1,396,869	1,989,941		1,396,869
-Vehicles		30,327	36,122	30,327		36,122
Auditors’ remuneration (excluding VAT)
- Fees payable for the audit of the financial
statements		67,530	56,780	38,760		30,800
5. (Loss) on sale of fixed	assets
		Group			Company
		2025	2024		2025	2024
		£	£		£	£
Disposal proceeds		140	2,976,518		140	2,976,518
Carrying value of fixed	assets	(13,183) (3,094,170)			(13,183)	(3,094,170)
		(13,043)	(117,652)		(13,043)	(117,652)

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 6. Interest receivable and other income

Interest receivable and other income
Interest receivable and similar income Income from listed investments	Group Company 2025 2024 2025 2024 £ £ £ £ 193,694 133,093 176,557 126,902 95,053 97,889 95,053 97,889
	288,747 230,982 271,610 224,791

7. Interest and financing costs

Interest and financing costs
Defined benefit pension charge Loan and bank overdrafts	Group Company 2025 2024 2025 2024 £ £ £ £ - 14,607 - 14,607 370,839 310,053 370,839 310,053
	370,839 324,660 370,839 324,660

8 Directors’ and Executive Management Team Remuneration

No member of the Board received any remuneration from the Group (2024: £nil). £1,025 expenses were reimbursed for Board members (2024: £nil).

The Executive Team comprised of the Chief Executive, Chief Financial Officer, Deputy Chief Executive, Finance Director, Director of Place & Environment, Director of Housing & Community. Each of these, including the Chief Executive, is a member of the Aviva defined contribution pension scheme. Both the Company and employee make contributions to this money purchase scheme.

Executives’ remuneration

Executive team emoluments Contribution to pension scheme	Group Company 2025 2024 2025 2024 £ £ £ £ 755,032 542,080 755,032 542,080 42,067 35,788 42,067 35,788
	797,099 577,868 797,099 577,868

The emoluments relating to the Chief Executive Officer in the year were £169,462 (2024: £156,996) and the employer’s contribution to the pension scheme on his behalf was £12,726 (2024: £11,760).

The full-time equivalent number of staff who received emoluments:	2025	2024
	No	No
£60,001 to £70,000	1	4
£70,001 to £80,000	1	1
£80,001 to £90,000	2	2
£90,001 to £100,000	1	-
£100,001 to £110,000	-	2
£110,001 to £120,000	1	-
£120,001 to £130,000	1	-
£150,001 to £160,000	-	1
£160,001 to £170,000	1	-

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Employee information

Average monthly number of employees: Housing Support Services Sports, health & fitness Child & family services Youth & community Early Childhood Partnership Signpost Total Staff costs (for the above persons) Wages and salaries Social security costs Other pension costs	Group Company 2025 2024 2025 2024 No No No No 170 159 170 159 69 54 69 54 - 10 - 10 156 117 156 117 69 57 69 57 45 5 46 4 - - - -
	514 447 464 397
	2025 2024 2025 2024 £ £ £ £ 13,335,670 10,520,749 12,109,129 9,512,553 1,214,279 941,973 1,110,294 848,989 579,686 455,727 535,501 418,354
	15,149,635 11,918,449 13,754,92410,779,896

During the year, there were termination payments of £275,777 of which £29,128 (2024: £37,193) were recognised as an expense as compensation for loss of office. £246,649 of the £275,777 termination payments relate to the new Family Support Service acquired during the year. These payments were classified as contract onboarding costs and have therefore been deferred; to be released as an expense over the contract period.

10. Taxation

The Company is a registered charity qualifying for relief from income and capital gains taxes on its charitable activities.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Group – Tangible fixed assets (housing properties)

Cost At 1 April 2024 Reclassification Additions Transfer from WIP WIP write off Disposals At 31 March 2025 Depreciation At 1 April 2024 Reclassification Providing during the year Released upon disposal At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Freehold Property Housing long leasehold property Housing property improvements WIP Total £ £ £ £ £ 4,048,450 5,282,258 7,054,363 4,896,102 21,281,173 18,284 - 113,120 - 131,404 - - 504,302 13,829,924 14,334,226 - - 233,615 (233,615) - - - - (132,551) (132,551) - - (182,629) - (182,629)
	4,066,734 5,282,258 7,722,771 18,359,860 35,431,623
	395,604 600,783 1,605,759 - 2,602,146 17,563 - 308,479 - 326,041 65,151 64,341 227,461 - 356,954 - - (182,629) - (182,629)
	478,318 665,124 1,959,070 - 3,102,512
	3,588,416 4,617,134 5,763,701 18,359,860 32,329,111
	3,652,846 4,681,475 5,448,604 4,896,102 18,679,027

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Company – Tangible fixed assets (housing properties)

Cost At 1 April 2024 Reclassification Additions Transfer from WIP WIP write off Disposals At 31 March 2025 Depreciation At 1 April 2024 Reclassification Providing during the year Released upon disposal At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Freehold Property Housing long leasehold property Housing property improvements WIP Total £ £ £ £ £ 4,048,450 4,856,000 7,054,363 4,999,742 20,958,555 18,284 - 113,120 - 131,404 - - 504,302 14,181,750 14,686,052 - - 233,615 (233,615) - (132,551) (132,551) - - (182,629) - (182,629)
	4,066,734 4,856,000 7,722,771 18,815,326 35,460,831
	395,604 558,157 1,605,760 - 2,559,521 17,563 - 308,479 - 326,041 65,151 55,816 227,461 - 348,429 - - (182,629) - (182,629)
	478,318 613,973 1,959,071 - 3,051,362 3,588,416 4,242,027 5,763,700 18,815,326 32,409,469
	3,652,846 4,297,843 5,448,603 4,999,742 18,399,034

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Company and Group – Tangible fixed assets (non-housing)

Other Property Long leasehold property £ £ Cost At 1 April 2024 - 760,000 Reclassification 36,552 - Additions - - Disposals - - At 31 March 2025 36,552 760,000 Depreciation At 1 April 2024 - 87,323 Reclassification 31,469 - Providing during the year - 8,736 Released upon disposal - - At 31 March 2025 31,469 96,059 Net book value At 31 March 2025 5,083 663,941 At 31 March 2024 - 672,677 13. Investments Fair value Listed on a recognised stock exchange Unrealised (losses) / Gains on valuation 1 £1 ordinary share in One YMCA Development Company Ltd As at 31 March	Other Property Long leasehold property £ £ - 760,000 36,552 - - - - -	Leasehold improvements Fixtures, fittings & equipment Total £ £ £ 2,271,568 1,928,470 4,960,038 202,325 (370,253) (131,376) 189,670 275,840 465,510 (350,762) (454,156) (804,918)
	36,552 760,000	2,312,801 1,379,901 4,489,254
	- 87,323 31,469 - - 8,736 - -	1,196,202 1,699,666 2,983,191 144,850 (502,472) (326,153) 258,767 104,298 371,801 (337,579) (454,156) (791,735)
	31,469 96,059	1,262,240 847,336 2,237,104
	5,083 663,941	1,050,561 532,565 2,252,150
	- 672,677	1,075,366 228,804 1,976,847
		2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 3,460,101 3,131,771 3,460,101 3,131,771 (155,059) 328,330 (155,059) 328,330 1 1
		3,305,042 3,460,101 3,305,043 3,460,102

An investment in 1 £1 ordinary share in One YMCA Development Company Ltd, a private limited company registered in England and Wales (company 11220819), was made in September 2019. The £1 is unpaid and the company was dormant until 31/03/2023 and active since 1/4/2023.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Debtors

14. Debtors
Rent arrears (including housing benefit, and resident arrears) Less provision for doubtful debt Trade debtors Less provision for doubtful debt Other debtors Other taxes / social security costs Prepayments and accrued income Amounts due from subsidiary undertakings 15. Creditors Amounts falling due within one year Current instalments due on loans (see note 16 for security details) Trade creditors Other taxes / social security costs Other creditors Amounts due to subsidiary undertakings Deferred grant income Accruals and deferred income	2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 3,393,746 2,389,098 3,393,746 2,389,098 (2,330,409) (1,519,867) (2,330,409) (1,519,867)
	1,063,337 869,231 1,063,337 869,231 3,070,339 1,392,517 2,938,612 1,300,977 - (132,055) - (132,055)
	3,070,339 1,260,462 2,938,612 1,168,922 436,023 2,919,547 435,209 2,919,510 171,469 438,289 - 102 1,212,972 395,337 1,173,478 367,101 - - 118,545 773,895
	5,954,140 5,882,866 5,729,181 6,098,761
	2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 190,750 79,320 190,750 79,320 20,147 786,446 18,468 726,763 430,239 299,065 408,953 255,828 1,256,784 726,437 1,249,375 715,940 - - 718,787 - 249,902 112,294 249,902 112,294 5,816,537 3,998,394 4,823,723 3,587,002
	7,964,358 6,001,956 7,659,958 5,477,147

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

16. Creditors

Amounts falling due after more than one year Bank loan Other loans Deferred grant income	2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 10,825,880 4,089,308 10,825,880 4,089,308 45,649 45,973 45,649 45,973
	10,871,529 4,135,281 10,871,529 4,135,281 13,022,001 9,584,521 13,022,001 9,584,521
	23,893,530 13,719,802 23,893,530 13,719,802

A loan of £124,000 was made by Watford Borough Council in 1977. The loan is interest-free and is repayable over the term of the lease. The amount due of £45,649 at 31 March 2025 (2024: £45,973) is the measurement of the liability after discounting for the income rate of return.

A facility of £9,000,000 was agreed in February 2022 with CAF Bank at 1.65% above the Bank of England’s base rate and is repayable over a 25-year term. The amount due at 31 March 2025 was £8,713,471 (2024: £4,168,628).

A new facility of £2,290,000 was agreed in December 2024 with Unity Trust Bank at 1.75% above the Bank of England’s base rate and is repayable over a 25-year term. The amount due, including accrued interest, at 31 March 2025 was £2,302,160 (2024: £0).

Based on the earliest repayment date, borrowings are repayable as follows: One year or less One year or more but less than two years Two years or more but less than five years Five years or more	2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 190,750 79,320 190,750 79,320 287,085 83,827 287,085 83,827 632,954 185,773 632,954 185,773 9,951,491 3,865,681 9,951,491 3,865,681
	11,062,280 4,214,601 11,062,280 4,214,601

a) The lease of Charter House, Watford is held as security for the above Watford Borough Council loan.
b) The CAF Bank facility is secured against the freeholds of Crest Road, High Wycombe and 4 Northgate End, Bishop’s Stortford .
c) The Unity Trust Bank facility is secured against the freehold of Anderson House, Florence Street, Hitchin

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Deferred Capital Grants

Deferred income as at 1 April Additions Transferred Released to Statement of Comprehensive Income As at 31 March Deferred income to be released to the statement of comprehensive income: In less than one year In more than one year 18. Provision for liabilities and charges As at 1st April Arising during the year Used during the year As at 31 March	Deferred income as at 1 April Additions Transferred Released to Statement of Comprehensive Income As at 31 March Deferred income to be released to the statement of comprehensive income: In less than one year In more than one year 18. Provision for liabilities and charges As at 1st April Arising during the year Used during the year As at 31 March	2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 9,696,815 3,144,655 9,696,815 3,033,971 3,702,770 6,563,859 3,702,770 6,563,859 - 100,595 - 211,279 (127,682) (112,294) (127,682) (112,294)
		13,271,903 9,696,815 13,271,903 9,696,815
		2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 249,902 112,294 249,902 112,294 13,022,001 9,584,521 13,022,001 9,584,521
		13,271,903 9,696,815 13,271,903 9,696,815
		2025 Group 2024 Group 2025 Company 2024 Company £ £ £ £ 48,700 48,700 20,000 20,000 - - - - - - - -
		48,700 48,700 20,000 20,000

A provision for dilapidations to premises is being held to cover the costs of any necessary reinstatement and repairs to the properties at the termination of the lease.

19. Pensions

The Company has recognised pension liabilities relating to one scheme, the multi-employer defined benefit pension plan for employees of the YMCAs in England, Scotland and Wales.

Pensions – YMCA Pension Plan

The company 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 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).

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Pensions – YMCA Pension Plan (continued)

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. The company has been advised that it will need to make monthly contributions of £6,824 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% (2024: 3%). The current recovery period is 3 years commencing 1 May 2024.

At 1 April Decrease in liability Paid in year Unwinding of discount included in finance costs At 31 March Repayable within one year Repayable in more than one year Discount	2025 2024 £ £ 252,477 863,448 (4,966) (484,550) (86,704) (143,908) 4,966 17,487
	165,773 252,477
	2025 2024 £ £ 79,571 86,704 88,900 173,438 (2,698) (7,665)
	165,773 252,477

In addition, the company may have over time liabilities in the event of the non-payment by other participating YMCAs of their share of the YMCA Pension Plan’s deficit. It is not possible currently to quantify the potential amount that the company may be called upon to pay in the future.

During the year, the Company made contributions to the defined contribution pension scheme of £453,802 (2024: £455,727). The amount payable as at 31 March 2025 was £45,866 (2024: £31,341).

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

20. Group analysis of changes in net debt

Cash at bank Loans falling due within 1 year Loans falling due after more than 1 year Cash at bank Loans falling due within 1 year Loans falling due after more than 1 year	1 April 2024 £ Cash flows £ Non-cash movement £ 31 March 2025 £ 8,620,595 (1,539,300) - 7,081,295 (79,320) (192,964) 81,534 (190,750) (4,135,281) (6,926,896) 190,648 (10,871,529)
	4,405,994 (8,659,160) 272,182 (3,980,984)
	1 April 2023 £ Cash flows £ Non-cash movement £ 31 March 2024 £ 4,160,901 4,459,694 - 8,620,595 (354,780) (74,934) 350,394 (79,320) (3,934,755) - (200,526) (4,135,281)
	(128,634) 4,384,760 149,868 4,405,994

21. Operating lease commitments

The future minimum lease payments are set out below. Leases relate to the rental of properties in 41 locations and two vehicles.

The following operating lease payments are committed to be paid within 1 year within 1-2 years within 5 years	Group Company 2025 £ 2024 £ 2025 £ 2024 £ 1,787,715 1,495,673 1,720,784 1,495,673 1,092,387 1,637,689 1,039,457 1,637,689 2,997,468 3,947,360 2,855,781 3,947,360
	5,877,570 7,080,722 5,616,022 7,080,722

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 22. Restricted funds

Group One YMCA Big Lottery - Horizons Project ISVA LGBTQ Community Link Worker Steele Charitable Trust Harper Trust DA Counselling SV Counselling WARM SPACES ISVA DA Specialism Project John Lewis Partnership ISVA TNL National Lottery Million HR Get On Board Young Trustees Signpost Restricted Funds Permanent endowment funds	1-Apr Income Expenditure Transfers 31-Mar 2024 2025 £ £ £ £ £ 125,326 - (31,301) - 94,025 30,663 174,525 (139,114) (35,621) 30,453 4,403 55,374 (43,683) (16,094) - - 25,349 (23,857) (1,492) - 5,000 5,000 (7,954) (2,046) - 16,138 68,853 (46,348) (26,045) 12,598 - 44,999 (38,155) (6,844) - - 44,999 (40,570) (4,429) - 1,975 - (1,975) - - 32,620 - (32,620) - - - - - 25,658 25,658 - - (7,214) 62,714 55,500 - - (4,500) 6,939 2,439 - 30,000 - 20,000 50,000 139,710 255,937 (293,812) - 101,835
	355,835 705,036 (711,103) 22,740 372,508

	383,632 - (8,525) - 375,107

The Permanent endowment funds (£375,107) arise from properties within Stevenage Consolidated Charities that have covenants which precludes them from being sold or used for any purpose other than the provision of charitable accommodation.

The Unrestricted funds in Signpost at 31 March 2025 (£101,835) become restricted funds on consolidation due to the objects of Signpost being narrower than those of One YMCA.

The Horizons Project

The grant received during the year of £174,525 is to equip individuals experiencing domestic abuse with empowering strategies to enable them and their families to make safe choices and rebuild their lives.

John Lewis Partnership

This donation was received to deliver laptops and/or tablets for the use by Charter House residents.

ISVA

This fund helps deliver specialist support to victims of sexual abuse and rape to children and adults of all genders.

TNL National Lottery Million HR

This was received to fund additional youth work hours in, or benefitting young people living in, eligible wards that have a higher rate of anti-social behaviour.

Get On Board Young Trustees

This fund helps to recruit, train and support Young Trustees (aged under 30) onto the Boards of YMCAs across the Central and Anglian region.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Restricted Funds Company WARM SPACES ISVA DA Specialism Project John Lewis Partnership ISVA TNL National Lottery Million HR Get On Board Young Trustees	01-Apr Income Expenditure Transfers 31-Mar 2024 2025 £ £ £ £ £ 1,975 - (1,975) - - 32,620 - (32,620) - - - - - 25,659 25,659 - - (7,214) 62,714 55,500 - - (4,500) 6,939 2,439 - 30,000 - 20,000 50,000
	34,595 30,000 (46,309) 115,312 133,598

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. Restricted funds

Group One YMCA Big Lottery - Horizons Project Children In Need Male victims - Safety Net Violence & Exploitation Reduction Unit ISVA LGBTQ Community Link Worker Steele Charitable Trust Harper Trust Cyclical Maintenance Fund Publicity Grants Extraordinary repair fund Contingency fund SBC Locality budget grants Christian Mission Stay and Play Initiative WARM SPACES ISVA DA Specialism Project Winter Tangibles RSI5 funding Outreach Project Funding Housing First Support Worker HFC Grant- Stevenage BC Signpost Restricted Funds Permanent endowment funds	1-Apr Income Expenditure Transfers 31-Mar 2023 2024 £ £ £ £ £ 125,326 - - - 125,326 - 123,671 (144,287) 51,279 30,663 2,958 - - (2,958) - 2,179 - - (2,179) - 11,741 - - (11,741) - 12,399 40,760 (31,879) (16,877) 4,403 6,658 25,349 (23,119) (8,888) - - 30,000 (25,000) - 5,000 - 7,862 (7,862) 16,138 16,138 5,913 - (5,913) - - 828 - (828) - - 21,122 - (21,122) - - 357 - (357) - - 266 - (266) - - - 1,200 (1,200) - - - 6,316 (6,316) - - - 2,000 (25) - 1,975 - 204,600 (171,980) - 32,620 - 1,867 (1,867) - - - 249,425 (249,425) - - - 43,000 (43,000) - - - 49,856 (49,856) - - - 5,290 (5,290) - - 169,232 186,452 (215,974) - 139,710
	358,979 977,648 (1,005,566) 24,774 355,835

	392,158 - (8,526) - 383,632

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Restricted Funds Company Cyclical Maintenance Fund Publicity Grants Extraordinary repair fund Contingency fund SBC Locality budget grants Christian Mission Stay and Play Initiative WARM SPACES ISVA DA DA Specialism Project Winter Tangibles RSI5 funding (year 2) Baldock Outreach Project Funding (year 2) Housing First Support Worker HFC Grant- Stevenage BC	01-Apr Income Expenditure 31-Mar 2023 2024 £ £ £ £ 5,913 - (5,913) - 828 - (828) - 21,122 - (21,122) - 357 - (357) - 266 - (266) - - 1,200 (1,200) - - 6,316 (6,316) - - 2,000 (25) 1,975 - 204,600 (171,980) 32,620 - 1,867 (1,867) - - 249,425 (249,425) - - 43,000 (43,000) - - 49,856 (49,856) - - 5,290 (5,290) -
	28,486 563,554 (557,445) 34,595

23. Related party transactions

One YMCA Development company balance owed to One YMCA One YMCA Development company balance owed by One YMCA Haven First balance owed to One YMCA ECP balance owed to One YMCA ECP balance owed by One YMCA Signpost balance owed by One YMCA Dignify balance owed to One YMCA 24. Capital commitments Contracts placed for future capital commitments not provided in the financial statements Commitments approved by the Board but not contracted for Total	2025 £ - 717,771 118,545 - 2,030 715 1,729 2025 £ 9,004,958 17,448,476 26,453,434	2024 £ 338,113 - 115,607 320,177 - - - 2024 £ 13,710,059 20,796,876 30,506,935

The above capital commitments will be financed through loans and cash reserves totalling £18,570,654 with the balance of £7,882,780 funded through public sector grant.

ONE YMCA Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Contingent liabilities

As at 31 March 2025, there was a contingent liability in respect of social housing grant that was awarded to the Company in prior years. There is a potential for repayment or recycling in accordance with the Regulator of Social Housing’s guidance if the sites were disposed of and/or taken out of social housing use. The properties are:
a) Charter House, Watford - £2.9m of social housing grant awarded in 1977 and a further £1.4m in 2024 to facilitate the construction of the site.
b)Peartree Lane, Welwyn Garden City - £570k of social housing grant awarded in 1995 and a further £5.0m in 2024, to facilitate the construction of the Hostel 2 building.
c) 4 Northgate End, Bishop’s Stortford - £782k of social housing grant awarded in 1995 to facilitate the construction of the building.
d) Crest Road, High Wycombe - £6.1m of social housing grant awarded between 1994 and 2005 to facilitate the construction of the scheme.
e) Anderson House- £3.1m of social housing grant awarded in 2024

All these assets remain in social housing use and the Company has no plans to change the status of these sites.

26. Membership

As at 31 March there were 38 members of the Company (2024: 38)

27. Subsidiary Results and Balance sheets

The results and balance sheets of the subsidiaries of One YMCA Group are shown in their summarised financial statements presented below.

Early Childhood Partnership was incorporated on 24 May 2016 with registered office at 30 Meadway, Bedford, England, MK41 9HU. Signpost CIO was registered on 10 May 2016 and has its principal office at St. Marys Churchyard, High Street, Watford, WD17 2BE. One YMCA Development Company was incorporated on 22 February 2018 with registered office at Charter House, Charter Place, Watford, Hertfordshire, United Kingdom, WD17 2RT.

The figures below are presented before elimination of intra-group trading.

			Net			Net
2025	Income	Expense	Result	Assets	Liabilities	Assets
	£	£	£	£	£	£
Early Childhood Partnership	2,012,893	1,966,432	46,461	763,074	183,538	579,536
Signpost	255,937	293,812	(37,875)	138,713	36,878	101,835
One YMCA Development
Company	7,425,168	7,179,822	245,346	1,076,817	831,470	245,347
			Net			Net
2024	Income	Expense	Result	Assets	Liabilities	Assets
	£	£	£	£	£	£
Early Childhood Partnership	1,969,623	1,905,157	64,466	1,286,110	753,035	533,075
Signpost	186,452	205,871	(19,419)	176,672	36,962	139,710
One YMCA Development
Company	2,294,576	2,294,576	-	415,561	415,560	1
						54

ONE YMCA

Report and financial statements for the year ended 31 March 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	Company	Charity
One YMCA Group	Number	Number	% Ownership
Early Childhood Partnership	10197205	1168090	100%
Signpost	N/A	1167027	100%
One YMCA Development Company	11220819	N/A	100%

28. Dignify Acquisition

On 30 September 2024, the activities, assets and liabilities of Dignify (charity number 1192067) transferred to One YMCA.

The following table sets out the fair value of assets and liabilities of Dignify as the date of transfer, 30 September 2024:

Cash and bank Creditors	Value reported in Dignify £ Transfer in recognised at fair value £ 35,401 35,401 (149) (149)
Net Assets	35,252 35,252
	35,252 35,252
Funds: Unrestricted funds

REPORTS AND FINANCIAL STATEMENTS

REPORTS AND ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS

CORPORATE INFORMATION

REPORT OF THE TRUSTEE BOARD

Organisation

Trustee Board

Strategic management

Report and financial statements for the year ended 31 March 2025

ONE YMCA - TRUSTEE BOARD

Sub Committees

Subsidiary Boards

Working Groups and Forums

Recruitment of members of the Trustee Board

Colleagues

Gender Pay reporting

Equality, Diversity, Inclusion & Belonging

Compliance with taxation

Information security

Indemnity insurance

Health and Safety

Investment powers

Public Benefit

Complaints

Donations

Going Concern

Reserves Policy

Risk Management

Statement of Internal Control Effectiveness

Code of Governance

Annual review of the Governance and Financial Viability Standard

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEE BOARD FOR THE REPORT AND FINANCIAL STATEMENTS

General Financial Responsibilities

The Trustees confirm that:

Annual General Meeting

OPERATING & FINANCIAL REVIEW AND STRATEGIC REPORT

Introduction

Principal Activity

BUSINESS AND FINANCIAL REVIEW

Financial review

Housing metrics

ONE YMCA

Report and financial statements for the year ended 31 March 2025

Value for money

Report and financial statements for the year ended 31 March 2025

Objectives and Strategy

Report and financial statements for the year ended 31 March 2025

Achievements and performance

Accreditations

Future plans

Future of social housing

Resident involvement

ProjectConnect

MakingHomes

Risks and uncertainties

Borrowings

Independent auditor’s report to the members and trustees of One YMCA

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees for the financial statements

Auditor’s responsibilities for the audit of the financial statements

Use of our report

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

CONSOLIDATED STATEMENT OF CHANGES IN RESERVES FOR THE YEAR ENDED 31 MARCH 2025

ONE YMCA

Report and financial statements for the year ended 31 March 2025

AS AT 31 MARCH 2025

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Status

2. Principal accounting policies

(a) Basis of accounting

NOTES TO THE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025