2021-08-31-accounts

				Page
Chair's report				1-3
Trustees' report				4-20
Auditors' report				21-24
Consolidated statement	of comprehensive		income	25
Group and charity statement		offinancial	position	26
Group and charity statement		of changes	in reserves	27
Consolidated statement	of cash flows
Notes to the financial statements				29-56

Value for Money (VFM)	Value for Money (VFM)
The Board is committed to achieving		value for money when	delivering	its purpose	and objectives,	in accordance	with
its Business Plan, VFM Strategy and the HE Value for Money			Standard	and Metrics.
With regard to HE metrics the findings are:						Charity
Reinvestment %							6 40%
New Supply Delivered							5.60%
Gearing %						-28.32%
EBITDA MRI interest cover						1001.00%
Headline social housing cost	per unit	(provides for intensive	housing	management)		f18,394
Operating Margin% (social housing lettings)							3.20%
Operating Margin %(overall)							3.00%
Return on capital employed	(ROCE) %						1.4%

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORTTO THE MEMBERS (continued) FOR TliE YEAR ENDED 31 AUGUST 2021 Auditors responsibllities for the audlt of the financial statements Icontinuedl A further description of our responsibilities is available on the Financial Reporting Council's website at https'./lwww.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the- auditor's-responsibilities-for. This description forms part of our auditor's report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to gtate to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's mèmbers as a body, for our audit work, for this report, or for the opinions we have formed. Kerry Hilliard ACA FCCA CTA Isenior Siatutory Auditor) for and on behalf of Stephenson Smart & Co Statutory Auditor 36 Tyndall Court Commerce Road Lynchwood PeterbDrough PE2 6LR Date.. IS 2021 -24-

						Year ended	Year ended
						2021	2020
					Note	f	f
Turnover					2	2,331,972	2,017,195
Operating	expenditure
Operating costs						(2,261,761)	(1,950,494)
Operating	surplus/(deficit)					70,211	66,701
Gain/(loss) on disposal of property,				plant and equipment
Interest	receivable					342	1,269
Interest	payable					(16,097)	(19,675)
Surplus/(deficit) before			tax			54,456	48,295
Taxation
Surplus/(deficit) for the			year			54,456	48,295
Actuarial	(loss)/ gain		in respect of pension schemes			(12,469)	(91,000)
Total comprehensive		(deficit)/income		for the year		41,987	(42,705)

					Group	Group	Charity	Charity
					31.8.2021	31.8.2020	31.8.2021	31.8.2020
				Note	E	E	f	f
Fixed assets
Tangible fixed assets - housing		properties		9	1,664,227	1,606,001	1,664,227	1,606,001
Other tangible fixed assets				10	2,505,026	2,540,182	550,587	567,093
					4,169,253	4,146,183	2,214,814	2,173,094
Current assets
Trade and other debtors				11	184,012	139,475	159,121	109,792
Cash at bank and in hand					1,282,928	1,298,893	640,662	654,927
					1,466,940	1,438,368	799,783	764,719
Creditors: amounts falling due within one year				12	(457,522)	(531,564)	(380,341)	(446,394)
Net current assets/(liabilities)					1,009,418	906,804	419,442	318,325
Total assets less current liabilities					5,178,671	5,052,987	2,634,256	2,491,419
Creditors: amounts falling due after			one year	13	(1,139,853)	(1,095,156)	(1,139,853)	(1,095,156)
Provisions for liabilities
Defined benefit pension	scheme		liability	17	(229,000)	(190,000)
TOTAL NET ASSETS					3,809,818	3,767,831	1,494,403	1,396,263
RESERVES
Income and expenditure	reserve				1,497,281	1,355,087	1,490,046	1,345,982
Restricted reserve				19	2,312,537	2,412,744	4,357	50,281
					3,809,818	3,767,831	1,494,403	1,396,263

Group			Income and	Restricted	Restricted	Total
			expenditure	reserve	fixed asset
			reserve		reserve
Balance as at 1September 2019			1,355,175	449,180	2,006,181	3,810,536
Total comprehensive	income for	the year	(42,705)			(42,705)
Transfer ofrestricted	expenditure	from
unrestricted reserve			42,617	(9,525)	(33,092)
Balance at 31August	2020		1,355,087	439,655	1,973,089	3,767,831
Total comprehensive	income for	the year	41,987			41,987
Transfer ofrestricted	expenditure	from
unrestricted reserve			100,207	(81,557)	(18,650)
Balance at 31August	2021		1,497,281	358,098	1,954,439	3,809,818
Charity			Income and	Restricted	Restricted	Total
			expenditure	reserve	fixed asset
			reserve		reserve
				6	f
Balance as at 1September 2019			1,346,326	47,183		1,393,509
Total comprehensive	income for	the year	2,754			2,754
Transfer ofrestricted	expenditure	from
unrestricted reserve			(3,098)	3,098
Balance at 31August	2020		1,345,982	50,281		1,396,263
Total comprehensive	income for	the year	98,140			98,140
Transfer ofrestricted	expenditure	from
unrestricted reserve			45,924	(45,924)
Balance at 31August	2021		1,490,046	4,357		1,494,403

							Group
							31.8.2021	31.8.2020
						Note	f	f
Net cash flow from operating			activities			22	77,498	376,202
							77,498	376,202
Cash flow from	investing	activities
Refurbishment oftangible			fixed assets - housing		properties		(38,903)	(13,728)
Purchase of	tangible fixed		assets				(41,956)	(37,798)
Proceeds from sale oftangible fixed assets							1,000	192
Interest income							342	1,269
Net cash flow from investing			activities				(79,517)	(50,065)
Cash flow from	financing	activities
Interest paid							(16,097)	(19,675)
New borrowings							30,000
Repayment	of long term loans						(27,849)	(25,851)
Net cash flow from financing			activities				(13,946)	(45,526)
Net increase in	cash and	cash equivalents					(15,965)	280,611
Cash and cash	equivalents	at	the beginning	of
the year							1,298,893	1,018,282
Cash and cash	equivalents	at	the end ofthe
year							1,282,928	1,298,893
Cash and cash	equivalents	consists of:
Cash at bank and in hand							1,282,928	1,298,893
Cash and cash	equivalents	at	the end ofthe	year			1,282,928	1,298,893

This treatment has been applie Direction 2020-21.	d to present a true and fair view in a	d to present a true and fair view in a
Depreciation has been provided	at the following rates:
Freehold buildings		100years straight line
Fixtures and fittings		20%/25% reducing balance
Music, sports and office equipment		25% reducing balance
Computer equipment		3years straight line
Motor vehicles		25% reducing balance
Kitchen extension		50years straight line
Music room extension		6years straight line

2.TURNOVER, EXPENDITURE, OPERATING	2.TURNOVER, EXPENDITURE, OPERATING	COSTS	AND OPERATING SURPLUS/(DEFICIT)
				2021	2020
				f	E
Income from Social Housing	Lettings
Rents receivable excluding service charges				163,247	161,708
Service charges receivable				376,406	328,270
Other social housing activities				144,547	149,591
Total				684,200	639,569
Activities other than social housing
Income from Asylum Seeker properties				57,502	48,578
Activities for generating funds				48,538	49,394
Training				30,290	26,518
Community Impact				2,180	35,031
Positive Activities				588,148	307,052
Children's Home				2,500
Covid 19				15,400	37,923
Charity Shop Profit Share				936
				745,494	504,496
Total Charity Income				1,429,694	1,144,065
Educational operations (South Essex Community			School Limited)
DfE/ESFA gra nts				532,581	517,873
Other government grants				45,498	65,093
Other funding				275,722	280,244
Donations and capital grants				29,993	8,641
Covid-19 additional funding				17,728
Other trading activities				756	1,279
Total income for Group				2,331,972	2,017,195

URNOVER	, EXPENDITURE, OPERATING C	OSTS AND OPERATING SURPLU	S/(DEFICIT) (co	ntinued)
			Activities
		Social	otherthan
		housing	social
		activities	housing	2021	2020
			E	E	E
Income		684,200	1,647,772	2,331,972	2,017,195
Operating	expenditure	(662,170)	(1,599,591)	(2,261,761)	(1,950,494)
Operating	surplus	22,030	48,181	70,211	66,701
Void losses				2,649

			Group		Charity
			2021	2020	2021	2020
			No of units		No of units
Social housing
Non-social	housing	(asylum seekers)	7	7	7	7
Supported	housing		36	34	36	34
Total owned			43	41	43	41

							Group		Charity
							2021	2020	2021	2020
							E		f	E
	Depreciation	on housing	properties				19,677	17,872	19,677	17,872
	Depreciation	ofother tangible			fixed	assets	75,644	77,522	20,666	25,011
	Profit/(Loss)	on disposal	of housing			properties
	Profit/(Loss)	on other tangible			assets		(468)	(274)	(468)	(274)
	Operating lease rentals:
	office equipment						26,007	24,390	22,613	20,462
	Auditors' remuneration:
	Fees payable	to the Charity's		auditors:
	for the audit	ofthe financial statements					10,000	10,000	10,000	10,000
	for other services						7,292	11,072	7,292	11,072
	Fees payable	to the component			auditors:
	Audit ofthe	accounts of	subsidiaries				7,000	7,000
	Total audit services						24,292	28,072	17,292	21,072
5.	INTEREST RECEIVABLE
							Group		Charity
							2021	2020	2021	2020
								f	E	E
	Interest received						342	1,269	268	1,192
							342	1,269	268	1,192
6.	INTEREST AND	FINANCING	COSTS
							Group		Charity
							2021	2020	2021	2020
							E	F.	E	f
	Interest on bank loans						16,097	19,675	16,097	19,675
							16,097	19,675	16,097	19,675

TAFF COSTS
								2021	2020
								f	f
Wages and salaries							1,116,329		940,156
Social security costs							101,336		82,577
Other pension costs							139,809		102,483
							1,357,474		1,125,216
In addition to the above, contributions			to the	operating	expenses ofthe YMCA	Pension	Plan	of61,772 were made
(2020:61,421).
The average monthly	number	of employees		expressed	as full time equivalents	(calculated		based	on a standard
working week of37 hours):
								2021	2020
Housing and support									6
Training									2
Community impact									1
Positive activities								7	6
Management and administration								4	3
South Essex Community	School							21	18
								38	36

										38	36
The full	time	equivalent		number	of employees	receiving	annual	remuneration	excluding	employer	pension
contributions		in	excess off60,000		are:
E60,001	tof70,000
f70,001	to E80,000									2
										2021	2020
										6	6
Key management			personnel	remuneration:
Salary									571,648		571,648
Contributions		to	pension scheme						64,274		41,655
									635,922		613,303

		Social
~dd h	it	housing properties	Total housing properties
		f	6
COST
At 1September	2020	1,688,123	1,688,123
Additions		77,903	77,903
Disposals
At 31August 2021		1,766,026	1,766,026
DEPRECIATION
At 1September	2020	82,122	82,122
Charge		19,677	19,677
Disposals
At 31August 2021		101,799	101,799
NET BOOK VALUE
At 31August 2021		1,664,227	1,664,227
At 31August 2020		1,606,001	1,606,001

		Academy	Music, Sports	Fixtures,
	Land and	Trust Land	&Office	Fittings and	Motor	Total Fixed
~Grou	buildings	and Buildings	Equipment	Computer	Vehicles	Assets
	E	E	E	E
COST
At 1September 2020	626,839	2,127,129	80,970	423,350	128,791	3,387,079
Additions		5,428		36,528		41,956
Disposais				(23,101)	(28,791)	(51,892)
At 31August 2021	626,839	2,132,557	80,970	436,777	100,000	3,377,143
DEPRECIATION
At 1September 2020	107,028	207,637	78,126	330,016	124,090	846,897
Charge	5,552	35,052	710	33,522	808	75,644
Disposals				(23,101)	(27,323)	(50,424)
At 31August 2021	112,580	242,689	78,836	340,437	97,575	872,117
NET BOOK VALUE
At 31August 2021	514,259	1,889,868	2,134	96,340	2,425	2,505,026
At 31August 2020	519,811	1,919,492	2,844	93,334	4,701	2,540,182

			Academy	Music, Sports
~Charit		Land and	Trust Land	&Office	Fixtures and	Motor	Total Fixed
		buildings	and Buildings	Equipment	Fittings	Vehicles	Assets
		E	f	E	E
COST
At 1September	2020	626,839		80,970	222,628	128,791	1,059,228
Additions					5,628		5,628
Disposals					(23,101)	(28,791)	(51,892)
At 31August 2021		626,839		80,970	205,155	100,000	1,012,964
DEPRECIATION
At 1September	2020	107,028		78,126	182,891	124,090	492,135
Charge		5,552		710	13,596	808	20,666
Disposals					(23,101)	(27,323)	(50,424)
At 31August 2021		112,580		78,836	173,386	97,575	462,377
NET BOOK VALUE
At 31August 2021		514,259		2,134	31,769	2,425	550,587
At 31August 2020		519,811		2,844	39,737	4,701	567,093

11.DEBTORS - AMOUNTS	11.DEBTORS - AMOUNTS	FALLING DUE WITHIN	FALLING DUE WITHIN	FALLING DUE WITHIN	FALLING DUE WITHIN	ONE YEAR
							2021	2020
Group							E	E
Trade debtors							(487)	26,694
Rent and service charges receivable							27,425	22,508
Less provision	for bad		debts				(2,567)	(2,567)
Other debtors							95,691	44,822
Prepayments	and accrued income						63,950	48,018
							184,012	139,475
							2021	2020
Charity								E
Rent and service charges receivable							27,425	22,508
Less provision	for bad		debts				(2,567)	(2,567)
Other debtors							87,722	43,433
Amounts due	from subsidiary			and	associated	undertakings
Prepayments	and accrued income						46,541	46,418
							159,121	109,792
12.CREDITORS - AMOUNTS			DUE	FALLING WITHIN ONE YEAR
							2021	2020
Group							E	E
Bank loan							27,746	27,746
Other loan							3,000
Trade creditors							46,823	57,107
Rent and service charges received					in advance		3,154	2,439
YMCA pension	deficit	agreement			plan		6,236	6,362
Deferred capital grant			(note 15)				4,713	3,738
Other taxation	and social security						15,628
Other creditors							123,798	115,028
Accruals and deferred			income				226,424	319,144
							457,522	531,564

12.CREDITORS - AMOUNTS	DUE FALLING WITHIN ONE	DUE FALLING WITHIN ONE	DUE FALLING WITHIN ONE	DUE FALLING WITHIN ONE	YEAR (continued)	YEAR (continued)
									2021	2020
Charity									f	E
Bankloan									27,746	27,746
Otherloan									3,000
Trade creditors									46,823	52,682
Rent and service charges received			in advance						3,154	2,439
YMCA pension deficit agreement			plan						6,236	6,362
Deferred capital grant	(note 15)								4,713	3,738
Other taxation and social security									15,628
Other creditors									72,905	67,957
Accruals and deferred	income								200,136	285,470
									380,341	446,394
Group accruals and deferred		income includes the following				deferred	income:
									2021	2020
Group and Charity									E	E
National Lottery Community		Fund	(RC London	and	South East Region)				35,402	64,517
National Lottery Community		Fund	(Coronavirus	Community		Support	Fund)			92,061
BBCChildren in Need									4,431
Co-operative Foundation/Big		Lotteryttiwill							6,565	11,667
Essex Community Foundation									27,923	5,000
ECVYS									14,033
Jack Petchey Foundation									4,186
Virtual School									7,828	8,750
YMCAEW									22,000
YMCAEW Y Girls									5,295
Kids Inspire —Fammily	Innovation		Fund						2,083	2,083
Southend Borough Council - Youth Ambassadors									2,438
Southend Borough Council young			peoples homeless		service	(Supporting		People)		12,154
									132,184	196,232
13.CREDITORS - AMOUNTS	DUE	FALLING AFTER ONE YEAR
									2021	2020
Group and Charity									E	E
Bankloan									725,053	752,902
Otherloan									27,000
YMCA pension deficit agreement			plan						56,910	44,676
Deferred capital grant	(note 15)								330,890	297,578
									1,139,853	1,095,156

				Group		Charity
				2021	2020	2021	2020
				E	E	f	E
Bankloans				752,799	780,648	752,799	780,648
Otherloans				30,000		30,000
				782,799	780,648	782,799	780,648
Payable	within	one year		30,746	27,746	30,746	27,746
Payable	after	one	year	752,053	752,902	752,053	752,902
				782,799	780,648	782,799	780,648
Amounts	included		above which fall due after five
years, payable		by	instalments	629,068	641,917	629,068	641,917

DEFERRED CAPITAL GRANT
	2021	2020
Group and Charity	f	f
At 1September 2020	301,316	269,053
Grant received in the year	39,000	36,000
Released to income in the year	(4,713)	(3,737)
At 31August 2021	335,603	301,316

EASE COMM	ITMENTS
Total future	minimum	lease payments	under	non-cancellable	operating	leases for each ofthe following	periods is
as follows:
						2021	2020
Group						f	f
Within one year						49,822	16,815
Between one and five		years				126,184	26,518
After 5 years						263,975
						439,981	43,333
						2021	2020
Charity						f	f
Within one year						46,599	13,478
Between one and five		years				125,833	23,102
After 5years						263,975
						436,407	36,580

				Within	One to	Two to	After	More than	Total	Total
				one year	two years	five years	five years	one year	2021	2020
				E	E	E	E	E	E	E
As	at	31August	2021	6,236	6,667	22,792	27,451	56,910	63,146
As	at	31August	2020	6,362	6,789	23,138	14,748	44,675		51,037

The amounts	recognised	in the balance s	heet are as f	ollows:
					Defined benefit
						pension plans
					2021	2020
					f	E
Present value	offunded	obligations			(451,000)	(361,000)
Fair value of	plan assets				222,000	171,000
					(229,000)	(190,000)
Deficit					(229,000)	(190,000)
The amounts	recognised	in the statement	offinancial	activities are:
					Defined benefit
						pension plans
					2021	2020
					E	E
Current service cost					73,000	49,000
Interest cost					3,000	1,000
					76,000	50,000

Changes	in the		present value ofthe defined benefit obligation are as follow	s:	s:	s:
				Defined benefit
					pension	plans
				2021		2020
				f		f
Opening	defined benefit obligation			361,000	277,000
Current	service		cost	73,000	49,000
Interest	cost			6,000		5,000
Contributions		by scheme participants		9,000		7,000
Actuarial	losses			32,000	23,000
Benefits	paid			(30,000)
Closing defined			benefit obligation	451,000	361,000
Changes	in the	fair value ofthe share of scheme assets:
				Defined benefit
					pension	plans
				2021		2020
				f		f
Opening	fair value ofscheme assets			171,000	206,000
Interest	income			3,000		4,000
Contributions		by employer		31,000	22,000
Contributions		by scheme participants		9,000		7,000
Actuarial	gains/(losses)			38,000	(68,000)
Benefits	paid			(30,000)
Closing fair value ofscheme assets				222,000	171,000
Principal	actuarial assumptions at the balance sheet date:
				2021		2020
RPlincreases				3.39o		3.1/o
CPlincreases				2 9o/		2.3/o
Future salary increases				3.9o/o		3.3/o
Future pension			increases	2.99o		2.3/o
Discount	rate			1.7oo		1.6/o

					At 31August
				2021	2020
Retiring	today
Males				21.6	21.8
Females				23.6	23.8
Retiring	in	20 years
Males				22.9	23.2
Females				25.1	25.2
The group's		share ofthe assets in the scheme was:
				Fair value	at 31August
				2021	2020
				E	E
Equities				142,000	106,000
Gilts				6,000	7,000
Corporate		bonds		10,000	10,000
Property				15,000	13,000
Cash				6,000	5,000
Alternative		assets		25,000	20,000
Other managed			funds	18,000	10,000
Total market value of assets				222,000	171,000

The Group's financial instruments	The Group's financial instruments	The Group's financial instruments	may	be	analysed	as follows:
												2021	2020
													f
Financial assets:
Financial assets that are debt	instruments				measure	at amortised		cost			1,402,990		1,390,350
Financial liabilities:
Financial liabilities measured	at	amortised			cost						972,202		955,222
Financial assets measured at	amortised			cost comprise cash at			bank		and in hand, trade		debtors and other debtors.
Financial liabilities measured		at	amortised cost			comprise	trade		creditors,	taxation	and	social	security, other
creditors, housing and bank loans.
MOVEMENT IN RESTRICTED RESERVES
									As at 1 September 2020		Movement in the year		As at 31 August 2021
										f		F. f
Residents fund										8,147		(8,147)
The National Lottery Community			Fund	—RC London		and South	East
Region										22,579		(22,579)
Better Start										5,489		(5,489)
Co-op Foundation/Big Lottery	Fund ¹iwill				fund Grant					8,499		(4,142)	4,357
Family Innovation Fund										5,567		(5,567)
South Essex Community School:
Commissioning Fund									565,984			(33,063)	532,921
Other EFA grants												2,329	2,329
COVID-19 catch up premium												7,832	7,832
Special Education Projects										2,909		(286)	2,623
Local Authority										10,481		26,555	37,036
Pension									(190,000)			(39,000)	(229,000)
Restricted fixed assets funds									1,973,089			(18,650)	1,954,439
Total Restricted Reserves									2,412,744		(100,207)		2,312,537

							2021	2020
							E
Incoming resources from		charitable	activities		- Educational	operations	871,529	863,210
Incoming resources from		charitable	activities		—Other income		30,823	9,997
Resources expended							(958,506)	(918,666)
							(56,154)	(45,459)
The aggregate ofthe assets, liabilities				and reserves were:
							2021	2020
							E	E
Fixed Assets							1,954,439	1,973,089
Current Assets							667,157	673,649
Current Liabilities							(306,190)	(275,178)
							2,315,406	2,371,560
ECONCILIATION OF	NET	MOVEMENT		IN RESERVESTO NET CASH FLOW FROM OPERATING ACTIVITES
							Group
							2021	2020
							E	E
Surplus/(Deficit) for	the year						41,987	(42,705)
Depreciation of housing		properties					19,677	17,872
Depreciation ofother fixed assets							75,644	77,522
Loss on sale of housing property
Loss on sale ofother	fixed assets						468	274
Interest payable							16,097	19,675
Interest received							(342)	(1,269)
Capital grant							(39,000)	(36,000)
Decrease/(Increase)	in debtors						(44,537)	(10,967)
(Decrease) in creditors							7,504	351,800
Net cash generated	from operating		activities				77,498	376,202

ANALYSIS	OF CHANGES	IN NET DEBT
			As at 1			Other non-
			September			cash	As at 31
			2020	Cash	flows	movements	August 2021
Cash			1,298,893	(15,965)			1,282,928
Loans due	within one year		(27,746)	(2,151)		(849)	(30,746)
Loans due	after one year		(752,902)			849	(752,053)
			518,245	(18,116)			500,129
CAPITAL COMMITMENTS
			Group			Charity
			2021		2020	2021	2020
				E		f	f
Capital expenditure
Expenditure	authorised	by the board, but not
contracted				53,856			53,856
				53,856			53,856

capital and, in accordance with the Memorandum ofAssoc in the event ofthe company being wound up.	iation; every member is liable to contribute a	sum ofE1
	2021	2020
Number of members	No	No
At 1September	8	8
Joining during the year	2
Leaving during the year	(1)	(1)
At 31August