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← Southend-On-Sea Young Mens Christian Association

2024-08-31-accounts

(LIMITED BY GUARANTEE) AND SUBSIDIARIES ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

Company registration No. 05051166 Charity Registration No. 1102837

Non Profit Private Registered Provider of Social Housing No. 4853

Contents

1 - 4 Chair’s report
5 - 44 Trustees report
45 - 48 Auditors’ report
49 Consolidated statement of
comprehensive income
50 Group and charity
statement of
fnancial position
51 Group and charity
statement of
changes in reserves
52 Consolidated statement of
cash fows
53-80 Notes to the fnancial
statements

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CHAIR’S REPORT

Welcome to Southend YMCA Annual Report 2023/2024

In 2023-24, Southend YMCA (SYMCA) continued to respond to the cost of living crisis, which negatively impacted the lives of many people. We were troubled by the number of children living in poverty and in overcrowded housing, as this affected the joy and freedoms of childhood. Young people struggled with mental health, online risks, and community safety fears.

Against this challenging background, we were able to deliver life-changing services to more than 16,000 vulnerable children, young people, and families, as evidenced in this report. Despite the charity’s operating costs increasing exponentially due to the cost of living crisis.

We are incredibly grateful to our grant funders and donors. They entrusted us to invest in children and young peoples’ futures and provide high quality developmental activities that would otherwise be unaffordable and inaccessible.

Our open access intervention projects were recreational and enriched lives: from a free music studio, detached youth work, and events, through to one-to-one mentoring promoting resilience and emotional wellbeing.

The charity successfully delivered Transitional Supported Housing for homeless young adults. And a good education with qualifications, through our Alternative Provision school.

Our overarching stategic objective is “To be an innovative, resilient and sustainable charity, delivering social value for children, young people, families and the wider community”. And so we continue to develop research-informed projects with and for beneficiaries, shaping exciting initiatives to meet their aspirations. We will need to fundraise to sustain our work and develop important new initiatives.

Southend YMCA is committed to continuous improvement and developing a strong and sustainable business core. We benefit from dedicated and capable staff and volunteers. Southend YMCA was awarded the prestigious Investors in People (IIP) Award at the Gold Level (for a second time) because we nurture a creative, value-based culture and are focused on delivering public benefit.

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~~[~~ CHAIR’S REPORT

Our Trustees bring professional expertise, set strategic direction, and offer support and challenge. We highly value our collaborative partners in Southend and Essex.

We have completed a Management Knowledge Transfer Partnership (mKTP) project in partnership with Innovate UK and the University of Hertfordshire. The aim of the project was to: stimulate innovation; deliver increased income; attract more customers; raise publicity and brand awareness; and enhance our knowledge for business development using digital platforms and Artificial Intelligence (AI).

Going into our operational year 2024-25:

The YMCA has a long history of adapting itself to societal needs. We have supported Southend and surrounding districts across 100 years.

Southend YMCA is part of a global movement of federated YMCA charities: local, regional, and international. In Victorian times, enlightened social campaigners were concerned with addressing the social divide between the super wealthy and the street destitute. Thus, the YMCA movement was founded in 1844 in London by George Williams.

The YMCA subsequently expanded into a worldwide network of affiliated local organisations. Today, the YMCA works in 119 different countries, reaching more than 58 million people.

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Did You Know?

In 1887-1903 , Southend YMCA was established, providing a men’s hostel and pastoral care on Weston Rd, just off Southend High Street.

In 1915 , the YMCA contributed to the WWI war time efforts, providing a canteen and recreational facility for soldiers at the Shoebury Garrison.

In 1993-1995 , after many years of considering site options, the Newlands building was constructed on Ambleside Drive, providing studio flats with support for homeless young people.

In 2012-2014 , we founded the Southend YMCA Community School, offering a combined GCSE and pastoral programme for vulnerable learners with direct funding from the Department for Education. More recently, Southend YMCA became a Housing Association.

In the year 2023-24 , Southend YMCA worked with more than 16,000 children, young people, and their families through outcome-based projects. We reached thousands more through community initiatives, events, and online interactions.

What is next for Southend YMCA?

As we reflect on the year, we look to the future. T.S. Eliot said: ‘Time present and time past, are both perhaps present in time future, and time future contained in time past.’

Having worked diligently in the past and in the present to build the charity, we intend to keep investing in the future of children, young people, their families, and carers. One of our great joys is to see the longitudinal impact of our work, when beneficiaries share their growth stories.

We look with interest to the new Government’s plans to support the expansion of social housing accommodation provision. And to the Regulator of Social Housing’s drive to continously improve the sector.

CHAIR’S REPORT

We will plan for the social housing decarbonisation agenda and move forward with green initiatives at Newlands. Furthermore, mounting energy costs can be offset to benefit our residents through implementing renewables (solar panels) and retrofitting the building with enhanced insulation.

We would also like to develop further housing units on the Newlands site, given the national shortage of social housing. Our funding goal is in excess of £3 million, and we anticipate working with a range of partners to see this happen.

Research shows that local authority spending on youth services has fallen over the last decade. We have worked hard to counteract the effects of this trend and are cognisant of the promise of a new youth strategy and investment from the new Government.

We are holding unrestricted cash reserves that equate c:3-4 months of operating expenditure. While, within Charity Commission thresholds, our objective to grow reserves remains. Positive pension performance has decreased deficit payments, and the buyout figure has decreased reserve requirements. We met our lender’s covenants and we maintain going concern status.

The year ahead has many exciting opportunities but also many challenges.

And so, we extend our most sincere thanks to our amazing supporter organisations and individuals who have had a massive impact on our ability to stand alongside the most vulnerable in our community. We hope you enjoy reading this report, which captures outcomes and impacts against each service area.

With warm wishes,

Stephen Onslow Chair of Trustees Southend YMCA

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TRUSTEES REPORT

The Trustees are pleased to present their Annual Report together with the Consolidated Financial Statements for the year ending 31st August 2024, which are prepared to meet the requirements of a Directors’ Report and Accounts for Companies Act purposes.

Southend YMCA (the group) comprises:

Southend-On-Sea Young Men’s Christian Association

An Incorporated Charity, company number 5051166 (registered on 20.02.2004) and Charity number 1102837 (registered on 24.03.2004). On the 13th July 2017, Southend YMCA was registered as a Non- profit private Registered Provider of Social Housing ( registration number 4853 Southend on Sea Young Men’s Christian Association). Trustees are aware of The Regulator of Social Housing’s Standards and the need to monitor their implementation through a co regulatory process.

The Southend YMCA Community School

In 2012, the Charity established a subsidiary company (the South Essex Community School Ltd Company Number: 07954295 ) operating as the Southend YMCA Community School ( DFE Number: 882/1101 ). This is an Alternative Provision Free School and an Academy Trust (which is an exempt Charity reporting to the Secretary of State and a ring fenced entity). Ofsted URN: 139903 . The relationship between the Charity and the school is governed through the Memorandum of Association and by a Deed of Agreement, with the Charity having the right to appoint and remove Directors.

The Financial Statements comply with the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022. Applicable UK accounting standards have been followed including the Statement of Recommended Practice (SORP) Accounting by Registered Social Housing Providers Update 2018.

Southend YMCA’s Charity Regulators

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TRUSTEES REPORT CHARITABLE OBJECTIVES AND ACTIVITIES Our charitable objects are set out in full on page 30. In shaping objectives, Trustees consider the Charity Commission’s Guidance on Public Benefit, and there is an intentional link between the charity’s legal purpose (objects) and our strategic goals as detailed Housing To empower vulnerable, homeless and at-risk young people offering safe and supported housing _ ~~a /~~ Training & Education To provide transformational education and training = Family, Health & Wellbeing = To nurture health and well-being for a positive community impact . Youth and Community Work To enable young people’s personal, social, cultural and artistic development through youth work. and other activities which deliver ) ml Support & Advice All of our projects embed information and advice. We also train the next generation of professionals, including social work students, counselling students, and practitioners through dedicated projects and events. 6 a

TRUSTEES REPORT

QUALITY ASSURANCE, REGULATION AND COMPLIANCE

The Matrix Quality Standard for Information, Advice, and Guidance (IAG) importantly notes that the “SYMCA service is truly young person-centred” and that we support Children and Young People (CYP) to “move forward in a positive way”.

The Investors in People Standard at Gold level (IIP) speaks of our creative culture, value-based leadership and agile management: it puts us in the country’s top 17% of firms.

In 2014, our SOS Bus Project was awarded the Queens Award for Voluntary Service (the MBE for voluntary groups).

The school has consistently held an Ofsted ‘Good’ judgement.

With regard to our facilities:

We uphold the Decent Homes Standard. Building compliance is evidenced by an ongoing Health and Safety inspection regime implemented by industry-standard registered bodies.

We were awarded a Combined Heritage and Conservation Architectural Award and the BREEAM Excellent Environmental Standard for our Eco-Hub Building (in 2010).

Historically, we achieved the Community Safety Accreditation Award. We further provide safe spaces through ongoing liaison with Essex Police. This approach is important to safeguard young people given societal challenges and risks such as the criminal exploitation of young people through county drug lines and modern slavery. We seek to be a good neighbour, and liaise with local residents as appropriate.

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THE DIFFERENCE WE MAKE - DELIVERING PUBLIC BENEFIT Who do we benefit?

Southend YMCA directly benefits vulnerable children, young people, their families, and carers, including those who live in poverty and lack opportunity. Common presentations include emotional well-being needs, low self-esteem, and/or risk-taking behaviours. We house homeless young people and work with young people not in employment or education.

Each person is an individual, and we seek to respond accordingly: building on strengths, understanding aspirations and offering bespoke support.

The charity provides information and advice to persons of all ages. Family, Health, and Wellbeing Projects such as Bump to Breast work with parents, carers, babies, and young children living in Southend’s deprived wards, all to support the best start in life. We also know that our online campaigns and events are successfully connecting with the public in general, supporting community cohesion, and delivering important public health messaging.

How do we know we are delivering benefits?

Our delivery is underpinned by a monitoring and evaluation framework appropriate to each type of project. Examples include nationally recognised tools such as YMCA George Williams College’s Socio-emotional Skill Measurement tools, exit surveys, focus groups, case studies, practitioner learning journals, alongside collaborative research with Universities. We develop Theories of Change for our activities, tracking the input-output-outcome-impact of our work. These are iterated with young people.

What types of benefits were received in 2023-2024?

Benefits included improvements in: motivation and emotional well-being; literacy, numeracy, and soft skills; self-care; interpersonal relationships; better physical health; decrease in risk-taking behaviour; progression into education or training (qualifications and awards); new employment opportunities and reduced benefit dependency; an increase in the ability to live independently, and connection to the community through active citizenship.

THE NEXT SECTION DETAILS SOUTHEND YMCA ACHIEVEMENTS AND PERFORMANCE

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Housing

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TRUSTEES REPORT

NEWLANDS

Newlands provides supported accommodation for young people aged between 18 and 25, offering a secure and stable home where young people can live and learn. The average stay is currently estimated between 2- 3 years due to lack of move on opportunities. During this time, our Housing Support Team works extensively with young people so they can develop the knowledge and skills to move on into independence. We have 30 self-contained studio flats, which are let on licenses, and, in addition, we have a 5 bedroom flat with shared facilities.

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7330+
HOURS OF
SUPPORT SESSIONS
PROVIDED
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12,775+
NIGHTS OF
ACCOMMODATION
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Every young person living at Newlands receives a tailor-made package of support comprising of :

Number of Number of
beds residents (annual)
Newlands Supported
Accomodation		 35 54
Care leavers supported by
Social Services (CM16+)		 15

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Training & Education

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TRUSTEES REPORT

SOUTHEND YMCA COMMUNITY SCHOOL

The Southend YMCA Community School is an Alternative Provision for students who cannot attend mainstream schools for a variety of reasons. Our learners join us having experienced barriers when engaging in education, this can lead to feelings of not being valued or belonging in mainstream education.

The school’s ethos is one of ‘Respect’ - nurturing potential while being ‘Restorative’ to help students experience success, with academic and pastoral progress at the heart of the school’s work.

Students undertake a broad, rich and deep curriculum which provides both the academic rigour of GCSE national qualifications fused with a Life Skills Programme to offer pathways to post 16 education and apprenticeships. Students are encouraged to develop their community spirit through community projects within the areas they reside.

The school has established a good reputation within the community and among its peers within the education sector, both locally and nationally, for delivering ‘Good’ alternative education. This has led to sustained numbers of students and an increased number of commissioning schools.

It is our mission and vision to ensure all children receive a high-quality education and we ‘stand in the gap’ to support and help them experience success, remove barriers to learning and enable them to be the best version of themselves.

As practitioners the school team is proud of its approach, which is often unique, and guided by an aspirational philosophy. Consequently, the school is expanding to meet the demand, with a dedicated 6th Form set to open at the YMCA Eco Hub building in September 2024.

6TH FORM WILL LAUNCH AT THE ECO HUB IN 2024-25

STUDENTS LEAVE WITH POSTIVE DESTINATIONS: FURTHER EDUCATION APPRENTICESHIPS EMPLOYMENT

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Youth and Community Work

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~~ee~~ TRUSTEES REPORT

DETACHED YOUTH WORK

The project has been funded through the Violence & Vulnerability Unit (VVU) in partnership with Essex Council for Voluntary Youth Services (ECVYS) and has enabled staff to make positive interventions with young people in parks, high streets, and neighbourhoods in Southend. Youth workers offer support, advice, and signposting through conversations on a need-met basis. The Detached work focused on three wards: Kursaal, Victoria, and Milton. These wards have been identified by the VVU as areas where young people could benefit from extra support.

1044 210 73 YOUNG PEOPLE HOURS SESSIONS REACHED DELIVERED

The team has engaged with otherwise hard-to-reach young people, promoting valuable and useful services to young people. They have also undertaken listening exercises with the young people, highlighting their top three areas of concern to ECVYS commissioners and funders.

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Mental
Knife
Employment
Health
Crime
(long waiting lists/ /Training
(increase in crime/
lack of support/ (cost of living/low
more education youth violence/ wages)
gangs)
needed)
----- End of picture text -----

Here is what young people have to say about Detached Youth Work

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TRUSTEES REPORT

ALL IN MUSIC (AIM)

AIM is funded by The National Foundation for Youth Music and provides a variety of music-making and performance opportunities for young people aged 6-25 years old who are identifed as ‘vulnerable or disadvantaged’ and may have often experienced personal, social and economic challenges. This project is also delivered in partnership with the local Music Education Hub, Music On Sea.

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388 834
129
GROUP TASTER
CORE
SESSIONS PARTICIPANTS
PARTICIPANTS
DELIVERED REACHED
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Each participant receives a minimum of 12 weeks of 1-to-1 and/or group sessions covering a variety of instruments and music activity, including guitar, drums, piano, songwriting, singing and music production

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----- Start of picture text -----
Annual
unique users
Participants who disclosed Mental Health
22%
conditions
Participants who have Special Educational Needs
43%
(SEN)
Participants who are from LGBTQ community 15%
Participants who are from BAME backgrounds 11%
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The project has engaged with 129 core and taster participants, comprising 62% male, 33% female, and 5% transgender and self-identifying young people. Many of the young LGBTQ+ community attend our quarterly Teenage Kicks showcase gigs & live youth events

Here is what young people have to say about AIM

“A great experience, very useful lessons!”

“This workshop was so insightful and inspiring too! I really enjoyed being able to create and record music in the studio - I’m very grateful!”

“I loved the workshop, it was awesome! It gave me some valuable advice and future les-

sons. The information was easy to understand and it was fun and entertaining!”

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usic, 16

Find Your Voice (FYV)

FYV is a youth-led project that empowers young people aged 10-24 to identify, address, and advocate for issues afecting their communities. We help young people to develop skills, provide resources, and opportunities to become active citizens and make a lasting impact.

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----- Start of picture text -----
689
ACCESSED 70 571
FYV DIGITAL
ATTENDED ATTENDED
PLATFORM
YOUTH CLUBS OUR EVENTS
WITH 70
SUBSCRIBERS
3 YOUTH YOUTH
YOUTH
NETWORK HUB CLUBS
EVENTS FOR FOR YOUNG FOR YOUNG
LOCAL YOUTH PEOPLE AGED PEOPLE AGED
SERVICE 18 TO 24 10 TO 24
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Looking ahead for the coming year, we have created an 18-24 Drop In session to help young people in Southend who are struggling to make friends and find the right services for their needs. We are also proud to deliver our own youth leadership course called YMCA Youth Champions, focusing on empowering young people to make a difference in their local community.

Here is what young people have to say about FYV

“SYMCA Youth Club is something I look forward to every week, it gets young people out, helps them to socialise, be interactive, active, stimulating. I hope go college and university in the future.”

“I have made friends at Youth Club I feel good about myself and I have made friends at school and have joined clubs and stayed happy for longer, In the future I would like to do a stage apprenticeship.”

Here is what professionals have to say about FYV

“The Find Your Voice program has helped me in my leadership skills. As a Youth Commissioner this has given me the opportunity to help the youth, SYMCA has helped me find new independence as I now catch the bus into Southend to attend the club.”

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MY FUTURE

The My Future programme for primary school children aims to broaden horizons, challenge stereotypes, and raise aspirations for both future career options and for life opportunities. Every half term, children from Years 1 to Year 6 ‘meet’ volunteers who work in different industries via live Zoom sessions. The children first guess the volunteers’ jobs and then learn about what each person does. The programme is currently delivered in Southend, Basildon and Tendring. The excitement and learning have been fantastic. Feedback from children, professionals, and Ofsted clearly indicate that the project is indeed meeting its aims.

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62
15,000+ 580
CHILDREN SCHOOLS
CLASSES
REACHED ENGAGED
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Here is what pupil have to say about MY FUTURE

MENTAL HEALTH CHAMPIONS

Mental Health Champions was funded by BBC Children In Need and provided 140 young people with the opportunity to increase their awareness and knowledge of mental health while working towards gaining a nationally recognised Level 2 Mental Health First Aid qualification.

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----- Start of picture text -----
24
SESSIONS
DELIVERED
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----- Start of picture text -----
140
CORE
PARTICIPANTS
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TRUSTEES REPORT

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PARTICIPANTS RECEIVED THEIR FULL LEVEL 2 MENTAL HEALTH ACCREDITATION

Each participant received the opportunity to enrol in a 7-week course, receiving a Level 2 Mental Health First Aid Qualification upon completion. A wide range of related topics were covered, such as first aid, myths vs facts, challenging stigma and building emotional resilience.

Participants who reported an increased knowledge of mental health - 78% Participants who are from BAME backgrounds - 15%

Here is what project partiipants have to say about Mental Health Champions

“ I feel like I can state my opinions and help others with their mental health. I’ve even applied for a job with Southend YMCA to help others in the community with their mental health.” female 15yrs”

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hide: sys 7 oP jay Ni i (ANG Sa “ Health PASE),7 m oo; ¥:7 % fe.toy a a ’ 7 Bas ee & Wellbeing We promote health and well-being and have a community impact. \

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TRUSTEES REPORT

BUMP TO BREAST

Started in 2018 and funded by A Better Start Southend (ABSS), Bump to Breast provides friendly and welcoming breastfeeding support groups at various Southend locations each week. Here, people can meet others who are breastfeeding their little ones, ask questions, and receive advice and support. Families are welcome both before and after their babies arrive. Additionally, families can take part in creative projects, including a breastfeeding book, tea towel design, and craft mornings, all aimed at building community, increasing people’s confidence, and normalising breastfeeding.

We are involved in delivering the Southend Supports Breastfeeding Scheme, which aims to welcome and normalize breastfeeding in Southend. We have had a presence at nine community events as part of this initiative. Two of our staff members are training as Lactation Consultants, and one is training as a Forest School Practitioner, further enhancing the skills and resources of our team.

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Supported, Contacted Online, phone call,
200+ 350+ text message
families with antenatal or email advice
breastfeeding families support provided.
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Delivered 6 six-session breastfeeding training courses this year, based on UNICEF materials, which have been completed by 14 people.

Here is what project participants have to say about Bump To Breast

“I ended up going regularly to the Tuesday sessions on Alexandra Street, finding somewhere full of encouragement to breastfeed and where I could get advice and hear about other breastfeeding journeys. I now go every week that I’m free as it’s more than just an excuse to get out, it’s somewhere I feel comfortable and happy.”

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SOUTHEND YMCA ANNUAL ACCOUNTS 23/24
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ENVELOP MENTORING PROJECT

The Envelop Project, an early intervention initiative sponsored by BBC Children In Need, is designed to coach and or mentor children and young people aged 8-18. The project has consistently progressed in making a meaningful difference in the lives of individuals within our community.

This year, we observed an emerging trend of young people relocating to our area from various parts of the country, which, coupled with an increase in referrals from neurodivergent young people, has raised the overall number of referrals to over 500. These demographic shifts have highlighted the need for our targeted, inclusive support.

A unique aspect of our project is the involvement of social work students, who join us on placement. They bring valuable expertise from their field and further benefit from our tailored training to support the project’s goals. Our approach occurs within supportive, enabling environments designed to enhance the engagement of vulnerable children and young people. We aim to improve their emotional and mental health, well-being, and essential skills through creative and inclusive methodologies.

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Impact

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DECREASED
INCREASED
RATE OF FIXED
SOCIAL
5000+ TERM AND
MOBILITY AND
INDIRECT PERMANENT
PARTICIPATION
BENEFICIARIES SCHOOL
EXCLUSIONS
Added Value:
DEVELOPING DIGITAL
LEARNING AND PLATFORM IMPROVED
PROFESSIONAL FOR ENGAGE- COLLABORATIVE
PRACTICE FOR MENT WITH MULTI-AGENCY
SOCIAL WORK FREE RE- WORK
STUDENTS SOURCES
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Our objectives are to foster self-belief, encourage the development of life goals, and reinforce self-help techniques. Our Team remain committed to sustainable, long-term solutions that empower young people, equipping them with the resilience and skills needed for future success.

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4 | 5 i « 2 q Support & Advice

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TRUSTEES REPORT

AMPLIFY YOUTH WORK CONFERENCE

Southend YMCA organised the Amplify Youth Work: Refresh Your Connection conference to elevate the standards of youth work across Southeast Essex by highlighting the vital role youth work plays in transforming young lives.

The conference aimed to raise the profile of the youth work profession through collaboration, sharing learning on quality practices, and emphasising its impact on young people and communities. It provided valuable opportunities for networking and learning, driving the change needed to improve services for both young people and their parents. Additionally, the event showcased Southend YMCA as a leading youth charity in the region, while exploring the crucial role of digital communication in engaging and connecting with children and young people.

The conference was sponsored by:

The conference was supported by:

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a “ = - Ee AMPLIFY YOUTH WORK oe ow ee

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TRUSTEES REPORT

BUSINESS SUPPORT

INFORMATION TECHNOLOGY (IT)

We work with Southend City Council IT, with our systems supported by the Council’s infrastructure. Our IT Online System Improvement Project es is progressing well, focusing on enhancing the use of the Management Information System and leveraging Microsoft cloud applications like OneDrive and SharePoint. This ensures robust security through Microsoft’s built-in data centre protection while enabling collaboration and flexible working.

We continuously refine our IT frameworks to improve efficiency and strengthen cyber defences against breaches and ransomware. The framework incorporates multiple redundancies and rigorous disaster recovery processes, ensuring seamless failover to backup systems. This supports our business continuity plan, minimising costs and disruptions while maintaining service delivery and reassuring commissioners, funders, and insurers. Additionally, IT efficiencies enhance our ability to secure business opportunities, such as delivering online well-being programmes. HUMAN RESOURCES (HR)

Recruitment is conducted in line with our Safer Recruitment Policy and procedures. High-level volunteers increase our operational capacity while also developing the next generation workforce. Of note are the many undergraduate and postgraduate social work students who are deployed in mentoring roles, building on strong partnerships with universities. Staff and volunteers follow robust Workforce Development Plans that provide for mandatory induction training and continuing professional development.

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TRUSTEES REPORT STRUCTURE, GOVERNANCE AND MANAGEMENT Southend YMCA is affiliated to YMCA England and Wales, and is part of a federated network of YMCAs, which share a common goal: To create supportive, inclusive and energising communities where young people can ~~|~~ truly belong, contribute and thrive. In 2017, the Charity adopted the YMCA England and Wales Model Memorandum and Articles where Members and Trustees are the same person. The size of the Board is limited to 10 persons. Trustees have a breadth of relevant professional knowledge, alongside lived experience.

The full charitable objects of Southend YMCA are:

‘To advance the Christian faith, including by:

‘To provide or assist in the provision in the interests if 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 relieve or assist in the relief of people of all ages and, in particular, young people, who are in conditions of need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances’

‘To provide residential accommodation, including social housing, for people of all ages and, in particular, young people, who are in need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstance’

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TRUSTEES REPORT

Whilst Southend YMCA’s beneficial area is not limited, we operate as a local charity - in 2023-24 the charity delivered services within the city of Southend on Sea, and into South Essex.

The Board of Southend YMCA is responsible to the Regulator of Social Housing for meeting Regulatory Standards (Economic and Consumer) and adopts a ‘co-regulatory’ approach. This means that whilst the Regulator sets national standards, the responsibility for agreeing, monitoring and scrutinising local implementation lies with the Board. The mechanisms through which this is achieved is via reports into the Board, subcommittee, and task and finish meetings.

As required by the HE Accounts Direction Trustees confirm a Liabilities Register in place and that they comply with their responsibilities as set out in the HE Governance and Financial Viability Standard. Our Housing Team have facilitated Tenant Satisfaction Survey using the Regulator’s TSM measures with positive results.

Our Board has adopted the ‘Charity Governance Code for Larger Charities’. Trustees have explored their shared values and commitment to delivering charitable purposes within the context of a rapidly changing economic environment. The tensions between opportunities, risks and costs are dynamically addressed. Trustees are aware of housing stewardship and are making plans for additional investment into the Newlands building. This may include recurculating a receipt from the disposal of a non-social housing asset, this being a property at London Road with a remmaining lease of 93 years.

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TRUSTEES REPORT Trustees will be reviewing the organisational purpose and strategy in 2024-2025 cognisant of the housing sector risks as they impact the delivery of more and better housing. There are fiscal challenges impacting Local Authority commissioning and so it is necessary to achieve full cost recovery on all contracts. Trustees agree SYMCA is of good reputation and ~~——T~~ operates to the standards required.

The Board are committed to recruiting new trustees aligned to our core areas of work. Findings from a Trustees’ Skill Audit shows that the strongest professional experience applied to the role comprised: strategic working (Public and Voluntary Sectors), senior management, operating services including housing, health and wellbeing and financial. Whilst some Board Members have lived experience related to our charitable mission, it is our intention to increase diversity of background.

The Board may comprise of not less than two and up to ten members. The Board conducted its business through Board Meetings and SubCommittees which were: Finance, Risk & Audit and Housing & Facilities. Each committee has Terms of Reference and is led by a Trustee (Chair) from a relevant professional background.

It is the Board’s responsibility to bring independent judgement on matters of strategy, performance, resources, and conduct. The Board is able to take professional advice in the furtherance of its duties. All Trustees are required to make a formal declaration of any interests at meetings and sign a register of interests. One Trustee received remuneration for legal work undertaken at substantially discounted rates and following all necessary steps from a probity perspective.

Southend YMCA pays a fixed rate salary, there is no salary scale. Trustees may at their discretion award a cost of living uplift. This will be implemented in 2024-2025. Furthermore, salaries may be reviewed to reflect additional responsibilities as they are assumed by individuals in line with market conditions.

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~~|~~ TRUSTEES REPORT The Board is ultimately responsible for the Charity’s System of internal control and for reviewing its effectiveness. Key internal assurance controls include: • Board Approved Terms of Reference, inter-group Deed of Agreement, ~~— _—~~ Delegated Authorities Schedule.

The Board recognises that any control system can only manage and not eliminate the risk of failure to achieve business objectives and can only provide reasonable assurance against any material misstatement or loss.

FINANCIAL REVIEW

During the year the use of the Xero Financial Information Management Platform supported the delivery of secure and accurate financial control and accounting.

33

Principle sources of funding

The principle sources of funding in 2023-24 were grant income, contract income and rental income. Due to the predictability and reliability of these income sources, there is not the volatility associated with trading. However, achieving full cost recovery (where all cost continues to rise) requires diligence and/or requires mitigating actions.

The total funds held by the group is £4,181,316. This included restricted funds of £2,826,390 being the value of fixed assets, current assets and long term liabilities.

The Funds held by the main Charity comprised £1,346,102 being the value of fixed assets of £2,245,567 including the Eco Hub Building, the Newlands Building and move on accommodation; and cash of £462,913.

The funds held by our subsidiary, South Essex Community Schools Limited, are restricted to the provision of full or part time education for children of compulsory school age who, by reason of illness, exclusion from school or otherwise, may not receive a suitable education unless alternative provision is made for them. At the year-end, the school made a surplus of £324,420. The school had fixed assets of £1,929,959 - this is mainly the value of the school building which is subject to a covenant and is held in trust for the DFE and net current assets of £905,255.

34

TRUSTEES REPORT

Properties

As at 31 August 2024, the Charity owned 3 Housing Properties: Newlands (a 35 bed social housing unit –subject to a mortgage); 2 move on flats (non-social housing) and the Eco Hub Building. The charity also leased a house ceasing post year end in October 2024. SYMCA’s Depreciation Policy is set out in the Notes to the Accounts on page 56-57.

Pension costs

The Charity is a member of a closed YMCA Pension Scheme which has a deficit. The Charity made an annual payment of £ 11,866 to service the debt. During the year it joined with other YMCAs to explore options around limiting long term liabilities.

The Charity recognises possible concern relating to its participation in a Defined Benefit Pension Scheme. Appropriate action has been taken: The Scheme was closed to new members in 2007, and the link to final salary broken in 2011. Additional contributions continue to be made to reduce the deficit. As part of the YMCA Federation, the multi-employer Pension Scheme is run by an independent Trustee Board with employer representation through the Principal Employer, National Council of YMCAs.

The Pension Scheme Trustee obtains an actuarial valuation every three years and we have considered the implications to the Charity’s Finances from the latest available actuarial valuation.

35

TRUSTEES REPORT We have reviewed the Charity’s ability to continue to deliver its charitable objectives by ensuring budgets, forecasts and plans are available and include the impact of deficit repayments. The Pension Scheme Trustee included the impact of Pension Scheme Deficit Repayments in considering going concern status, reserves, and the risks and uncertainties that the ~~|~~ charity face noted elsewhere in this report. The Charity benefits from the Pension Scheme Trustee and the Principal Employer seeking suitable specialist Professional advice both to manage the Scheme and in the continuing effort to explore ways of reducing the overall pension deficit. The notes to the accounts include an accounting policy and further details in note 18.

Principal Risks and Uncertainties

The Board maintains a dynamic approach to risk mitigation – considering a wealth of technical professional advice from accountancy, through to Health and Safety and Facilities Reports. Risk domains correlate with Charity Commission (CC28) Guidance, and the Regulator of Social Housing’s (RSH) ‘Sector Risk Profile’ (2024)

Breach of Covenants - The Interest Service Cover (ISC) is our most restrictive covenant. Within the context of variable mortgage interest costs supplier and employee costs ongoing budgetary management is a priority . Our financial performance in 2023/4 shows covenant compliance and our approved budget for 2024/5 also shows the same. Investment into a community fundraising team is building valued relationships and partnerships, securing donations and gifts to support our vitally important work.

External environment and operating context- we will continue to conduct a PESTLE analysis and SWOT analysis to identify key trends and opportunities to grow or mitigate threats to our charitable plans to deliver public benefit

Local Authority financing pressures- may create lean contracts. Charitable funds should not subsidise the Public Sector and so we will cautiously consider new opportunities, service modelling and innovation for full cost recovery.

36

TRUSTEES REPORT Mitigation Due to tight financial control and reliable income sources, we do not anticipate cash-flow problems in 2024-2025. The Board are considering the sale of a capital asset to invest in more and better housing. In recirculating this receipt, this could include as cash match with capital ~~_— an~~ grants to achieve value for money. Our Reserves Policy focussed on the balance between cash and fixed assets and managing liquidity.

In 2023-24, the Board completed mitigation actions to close down a social business. Staff were transferred to a another service and plans were made to exit a lease. This was successfully finalised post year end.

Reserve’s Policy

The term ‘Reserves’ is used to describe that part of a Charity’s Income funds that are freely available for its operating purposes, not subject to commitments, planned expenditure and spending limits. Reserves do not include endowment funds, restricted funds and designated funds.

Having a Reserves Policy helps inform the way in which we manage our cash, liquid assets and debt. It assists us when planning and explaining our approach to stakeholders and contributes significantly to the Board’s ability to balance the needs of current and future beneficiaries.

We set our reserves level with reference to: analysis of cash flow; existing funds and reserves; future income streams with an assessment of their reliability; committed expenditure and how far this is controllable; examination of past trends; examining the likely changes in the main sources of income and how we may cope with these changes; an assessment of the risks we face, and how likely these are to materialise; and forecasting future income and expenditure.

37

TRUSTEES REPORT Charity Trustees have established a Reserves Policy whereby the balance of funds should be 3 - 6 months of the resources expended. The running costs of our charitable business for 2023-24 are forecast at £97,000 per month which equates to £291,000 to £582,000. The Trustees ~~|~~ consider that the free reserves at the year-end fall within this range. At the year end the Charity held cash of £462,913 of which £123,240 comprised cash held on account (being funders paying in advance) with net current cash of £339,673. This comprises 3.5 months of operating expenditure. This is a decrease in funds compared to the previous year net cash of £377,928.

Trustees accepted that the level of cash funds was acceptable due to the value of fixed assets which could provide security for increased working capital or be liquidated in the event of having to wind up the Charity. Fundraising capacity has been increased in 2023-24 alongside a refreshed Fundraising Strategy.

It is the policy of the Academy Trust to maintain a level of reserves that is sufficient to meet its future obligations. Fund balances at 31.08.2024 comprised: £2,835,214 of which £2,823,624 were restricted funds and £11,590 unrestricted. Of the restricted funds, £1,929,959 is represented by tangible fixed assets, general funds total £893,665.

Governors have approved a three-year plan to use reserves within the current educational climate, mainly on staffing in support of the students. The plan is dynamically risk assessed and staffing is considered is the most significant risk.

Due to the above levels of reserves, Trustees know that they would be able to carry on the group’s day to day activities in the event of a drop-in funding whilst considering how funding would be replaced.

Furthermore, the Charity remains a going concern, with the ability to meet its proportion of the YMCA group pension deficit. Due to a positive valuation deficit payment will remain flat until the end of the term in 2027.

38

TRUSTEES REPORT

For the Financial Year 2024-25 the Board has set objectives to:

increase free reserves, to fundraise for ongoing improvements works to the Newlands Building including decarbonisation measures, and to secure grants supporting youthwork which further the needs and aspirations of beneficiaries. We will seek the support from grant making trusts and through general appeals to assist in these areas.

The Board will continue to monitor the finances of the organisations including the position of the reserves through the Finance, Risk and Audit Committee.

Other Income

Income from other activities includes income from fundraising events, hire of facilities, and donations. Income is receivable in exchange for goods and services and is recognised when entitlement has occurred.

Investment Policy

Aside from retaining a prudent amount in reserves most of the Charity’s Funds are to be spent in the short to medium term on charitable services for beneficiaries.

Previous capital investment in affordable housing secures a long-term return (mission and rental income). The Charity has borrowed to acquire the Newlands Asset. The outstanding balance is £688,144.

39

TRUSTEES REPORT Value for Money (VFM) ~~a, |~~ 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:

Reinvestment % 5.2%
New Supply Delivered 0.0%
Gearing % 22.18%
EBITDA MRI interest cover 251%
Headline social housing cost per unit (provides
for intensive housing management)		 £24,089
Operating Margin % (social housing lettings) 7.7%
Operating Margin % (overall) 6%
Return on capital employed (ROCE) % 3.6%

The Charity is a Member of the Acuity Benchmark Club which enables us to understand our performance in relation to our peer group. The HE Value for Money Standard and Metrics however Benchmarking Housing Associations managing more than 1,000 homes and therefore is not comparable in all areas.

40

TRUSTEES REPORT REFERENCE AND ADMINISTRATION DETAILS The Company is registered under the Companies Act and is a registered charity. ~~7~~ Charity number: 1102837 Company number: 05051166 The Company is a non-profit private registered provider of social housing. Registration no: 4853.

Registered office: Newlands, 85 Ambleside Drive, Southend on Sea, SS1 2FY.

Auditors : Price Bailey LLP, 36 Tyndall Court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR.

Directors and Trustees

The Directors of the Charitable Company (the Charity) are its Trustees for purpose of Charity Law. The Trustees and Officers serving during the year and since the year end were as follows:

Trustees serving in the year were:

Simon Ling-Locke (appointed 29.01.2011) Ron Wright (appointed 20.02.2004, deceased 08.11.2023) Stephen Onslow (appointed 05.05.2017) Kerry Bland (appointed 29.04.2017, resigned 31.03.24) Philip Stepney (appointed 30.09.2018 resigned 31.03.24) Laurence Doe (appointed 30.05.2020) Simon Leftley (appointed 09.12.2023) Edward Joseph Galgano (Appointed 31.03.24) David Bland (Appointed 31.03.2024)

Key Management Personnel at the year end were: Syrie Cox – Chief Executive Officer Southend YMCA John Levy – Housing and Facilities Manager Andrew Snell – HR Officer Mark James - Health and Safety Advisor

41

TRUSTEES REPORT Our Advisers Auditors: Price Bailey LLP, 36 Tyndall Court, Commerce Road, Lynchwood, Peterborough PE2 6LR. Bankers: Barclays Bank, 127 High St, Southend-on-Sea SS1 1LH and CAF ~~——}~~ Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Solicitors: Duncan Lewis (Solicitors) Ltd, Spencer House, 29 Grove Hill Road, Harrow on the Hill, HA1 3BN HR Advisors: HR Initiatives, the Nexus Building, Broadway, Letchworth, Garden City, Hertfordshire, CG6 9BL.

Trustees Responsibilities in Relation to the Financial Statements

The Charity Trustees (who are also the Directors of Southend on Sea Young Men’s Christian Association for the purposes of Company law) are responsible for preparing a Trustees Annual Report and Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards as reflected in FRS 102 and applicable laws).

Company law requires the Charity Trustees to prepare Financial Statements for each year which give a true and fair view of the state of affairs of the Charitable Company and the group and of the incoming resources and application of resources, including the income and expenditure of the Charitable Group for that period. In preparing the Financial Statements the Trustees are required to:

• Prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

42

TRUSTEES REPORT

The Trustees are responsible for keeping proper Accounting Records that disclose with reasonable accuracy at any time the financial position of the Charity and Group and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the Group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

Statement of Disclosures to our Auditors

In so far as the Trustees are aware at the time of approving the Annual Report:

There is no relevant audit information of which the group’s auditors are unaware, and; the Trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information

This Report has been prepared taking advantage of the exemptions for small companies within Part 15 of the Companies Act 2006.

Signed by order of the Board of Trustees

Stephen Onslow (Chair) Date: 09/04/2025

43

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORTTO THE MEMBERS FOR THE YEAR ENDED 31 AUGUST 2024 Opinion We have audited the financial statements of Southend-on-sea Young Men's Christian Association (Limited by guarantee) and it's subsidiary for the year ended 31 August 2024 which comprise a Statement of Comprehensive Income, Statement of Ch3nges in Reserves, Statement of Financial Position, Statement of Cash Flows and notes to the fina ncial statements, including significant accounting policies. The f inancial reporting framework that has been applied in their preparation is applicable Saw 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 the charity's affairs as at 31 August 2024 and of the group's income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs IUKII 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 Ul(, 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 board's 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 responsi bilities of the board with respect to going concern are described in the relevant sections of this report. 45

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORT TO THE MEMBERS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Other information The other information comprises the information included in the annual report, other than the financial statements and our a uditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expres5 any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard, Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertal<en in the coijrse of the audit.. the information given in the trustees, report for the financial yoa r for which the financial statements are prepared is consistent with the financial statements; and the trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our l<nowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, 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 l<ept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us,. or the parent charity financial statements are not in agreement with the accounting records and returns. or certain disclosures of di rectors, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tal<e advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion: a satisfactory system of control over transactions has not been maintained. 46

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORTTO THE MEMBERS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Responsibilities of trustees As explained more f ully in the trustees, responsibilities statement set out on pages 42 to 43, the trustees (who are also the directors of the association for the purposes of charity lawl 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or to 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 ijsers taken on the basis of these financia I statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibil ities, 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.. In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; Assessing whether the judgements made in accounting estimates are indicative of a potential basis; Evaluating the rationale of any significant transactions that are unusual or outside the normal course of busi ness; Analytical procedures are performed as well as substantive testing to identify any potential misstatement due to fraud; and The audit procedures would also involve being aware of any such items from reviewing minutes and third party communications and reports and discussions held with staff and management to obtain an understanding. 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. 47

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORT TO THE MEMBERS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 Auditors responsibilities for the audit of the financial statements (continued) A further description of our responsibilities is available on the Financial Reporting Council's website at httPs://www.frc.org.ul</auditorsrespon5ibilities. 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 undertal<en so that we might state to the charity's trustees those matters we are required to state 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 members as a body, for our audit worl<, for this report, or for the opinions we have formed. Kerry Hilliard ACA FCCA CTA (Senior Statutory Auditor) for and on behalf of Price Bailey LLP Statutory Auditor 36 Tyndall Court Commerce Road Lynchwood PeterboroLtgh PE2 6LR Date: 48

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2024 Year ended Year ended 2024 2023 Note Turnover 3,239,487 2,663,875 Operating expenditure Operating costs 12,817,361) 12,867,299) Operating surplusl(deficit) 422,126 1203,424) Interest receivable 12,297 2,070 Interest payable 156,0371 {46,4501 Surplus/(deficit) before tax 378,386 1247,804) Taxation Surplus/(def icitl for the year 378,386 1247,8041 I ncrease in valuation of investment properties Actuarial gain in respect of pension schemes li 58,384 24,140 97,000 Total comprehensive income for the year 460,910 (150,8041 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. All of the above amounts relate wholly to continuing activities. The accompanying notes form part of these financial statements. The financial statements were approved by the Board on S Onslow Chairman D Bland Director Company Registration No. 05051166 (England and Wales) Charlty Registration No. 1102837 Homes England No. 4853 49

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES GROUP AND CHARITY STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2024 Group 2024 Charity 2024 2023 2023 Note Fixed assets Tangi ble f ixed assets - housing properties Other tangible fixed assets Investment properties 1,480,624 2,504,902 190,000 4,175,526 1,632,273 2,476,297 1,480,624 1,632,273 574,943 577,405 190,000 2,245,567 io li 4,108,570 2,209,678 Current assets Trade and other debtors Cash at bank and in hand 12 109,259 1,502,146 119,980 1,197,879 88,938 462,913 104,710 502,749 1,611,405 1,317,859 551,851 607,459 Creditors: amounts falling due within one year 13 1484,1771 (486,4891 1329,8781 1384,9911 Net current assets/(lia bilities} 1,127,228 831,370 221,973 222,468 Total assets less current liabilities 5,302,754 4,939,940 2,467,540 2,432,146 Creditors: amounts falling due after one year 14 {1,121,438} {1,222,534} 11,121,438) (1,222,534) Provisions for liabilities Def ined benefit pension scheme liability 18 3,000 TOTAL NET ASSETS 4,181,316 3,720,406 1,346,102 1,209,612 RESERVES Income and expenditure reserve Fair value reserve Restricted reserve 1,296,542 58,384 2,826,390 1,205,881 1,284,952 58,384 2,766 1,195,810 20 2,514,525 13,802 4,181,316 3,720,406 1,346,102 1,209,612 The net movement in funds for the year for the charity only was net surplus of £136,490 12023: deficit of £252,193). The charity's income was £1,554,307 (2023.. £1,521,249) less expenditure of £1,515,34112023: £1,773,442), actuarial gains of £39,14012023: nil} and increase in valuation of investment property of £58,38412023: nil}. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The accompanying notes form part of these financial statements, The financial statements were issued and approved by the Board on S Onslow Chairman D Bland Director Company Registration No. 05051166 (England and Wales) Charity Registration No. 1102837 Homes England No. 4853 50

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES GROUP AND CHARITY STATEMENT OF CHANGES IN RESERVES AS AT 31 AUGUST 2024 Group Income and expenditure reserve Restricted Fair value Restricted fixed asset Total reserve reserve reserve Balance as at I September 2022 1,456,401 506,726 1,908,083 3,871,210 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve {150,8041 1150,8041 {99,716) 108,907 19,1911 Balance at 31 August 2023 1,205,881 615,633 1,898,892 3,720,406 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve 402,526 58,384 460,910 1311,8651 280,798 31,067 Balance at 31 August 2024 1,296,542 896,431 58,384 1,929,959 4,181,316 Charity Income and expenditure reserve Restricted Fair value Restricted fixed asset Total reserve reserve reserve Balance as at I September 2022 1,449,840 11,965 1,461,805 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve {252,1931 (252,193) 11,837) 1,837 Balance at 31 August 2023 1,195,810 13,802 1,209,612 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve 78,106 58,384 136,490 11,036 111,0361 Balance at 31 August 2024 1,284,952 2,766 58,384 1,346,102 51

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 Group 2024 2023 Note Net cash flow from operating activitles 23 510,044 107,190 510,044 107,190 Cash flow from investinE activities Purchase of tangible f ixed assets Proceeds from sale of tangi ble fixed assets Interest income 1128,2401 500 12,297 1107,3071 2,070 Net cash flow from investing activities 1115,4431 1105,2371 Cash flow from financing activities Interest paid Repayment of long term loans 156,0371 134,2971 146,4501 136,7221 Net cash flow from financing activities 190,3341 183,1721 Net increase in cash and cash equivalents 304,267 181,2191 Cash and cash equivalents at the beginning of the year 1,197,879 1,279,098 Cash and cash equivalents at the end of the vear 1,502,146 1,197,879 Cash and cash equivalents consists of: Cash at bank and in hand 1,502,146 1,197,879 Cash and cash equivalents at the end of the year 1,502,146 1,197,879 52

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 LEGAL STATUS Southend-on-sea Young Men's Christian Association {the charity} is a private company limited by guarantee incorporated in England under the Companies Act 2006, registered with the Homes and Communities Agency as a private registered provider of social housing and is a registered charity. The registered office is Newlands, 85 Ambleside Drive, Southend-on-sea, SSI 2FY. Southend-on-sea Young Men's Christian Association has one subsidiary, South Essex Community School Ilimited by Guarantee), registered under the Companies Act 2006 and an exempt charity lan Academy Trust) reporting to the Secretary of State. I. ACCOUNTING POLICIES 1.1 Basis of accounting The Group's financial statements have been prepared in accordance with applicable United Kingdom Generally Accepted Accounting Practice (UK GAAPI including Financial Reporting Standard 102 and the Statement of Recommended Practice for registered housing providers: Housing SORP 2018, The financial statements comply with the Companies Act 2006, the Housing Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022. The accounts are prepared on the historical cost basis of accounting and are presented in sterling £. The subsidiary undertaking is an Academy Trust. Consideration has also been given to the Charities SORP (FRS 102) and the Academies Accounts Direction 2023 to 2024, where this is deemed appropriate in order to give a true and fair view. The charity constitutes a Public Benef it Entity as defined by FRS 102. Parent com an disclosure exem tions In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102. the requirement to present a statement of cash flows and related notes; disclosures in respect of the parent company's financial instruments have not been presented as equivalent disclosure exemptions available in FRS 102; no disclosure has been given for the aggregate remuneration of the key management personnel of the parent company because their remuneration is included in the totals for the group as a whole. 1.2 Basis of consolidation The Group f inancial statements consolidate the financial statements of the charity and its subsidiary South Essex Community School (Limited by Guarantee). The results of the subsidiary have been consolidated on a line-by-line basis for the year ended 31 August 2024. The South Essex Community School is a subsidiary of the main charity under section 1162121 {bl of the Companies Act 2006. The section defines 'parent undertaking" and "subsidiary undertaking" for the purposes of the Companies Acts. An undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if it is a member of the undertaking and has a right to appoint or remove a majority of its board of directors. The results of South Essex Community School are shown in note 22. In accordance with section 408 of the companies Act 2006, no individual financial statements have been prepared for the parent company. 53

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.3 Going concern The group's business activities, its current financial position and factors likely to affect its f uture development are set out within the report from the board. The group has in place long-term debt facilities which provide adequate resources to finance corn￿1tted reinvestment and development programmes, along with the group's day to dav operations. The continuing operational existence of the company is dependent upon the continuing support of the main lender forthe group, CAF Bank Ltd. Throughout the 3ccounting year and since the year end, the group has been in communication with the main lender and has received support in the form of a loan covenant waiver. Based upon mitigated budgets and up to date management accounts, the board of trustees are confident that the risk of the coven3nt being breached going forward is low. On this basis, the board has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and f inancial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements. 1.4 Judgements and key source5 of estlmation uncertaintv Preparation of the financial statements requires management to make significant judgements and estimates. The following judgements and experts have had the most significant effect on the amounts recognised in the financial statements.. Housin related su ort income Management judgement is applied in determining the extent to which the risks and benefits are transferred to the charity when considering the income to be recognised. Government and other rants tal(en to i ncome Where entitlement to income is subject to fulf illing performance related conditions, judgement is applied in some situations to determine the stage of completion and the related income to be recognised, rather than deferred. Cost allocation Judgement is required in determining and applying the basis of regulated social housing activity and activities other than social housing costs. Cate orisation of housin and other erties The group has undertaken a detailed review of the intended use of all properties. In determining the intended use, the group has considered if the asset is held for social benefit or to earn commercial rentals. ro Tan ible fixed assets Depreciation is charged on tangible fixed assets over their estimated useful lives, tal<ing into account residual value if appropriate. The actual lives of the assets and their residual values are assessed annually and may vary depending on a number of assumptions. 54

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.4 Judgements and key sources of estimation uncertainty (continued) Pension benef its The cost of defined benefit pension plans and other post-employment benefits are determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, future salary increases, mortality rates and future pension increases. Due to the complexity of the valuation, the underlying assumptions and the long term nature of these plans, such estimates are subject to significant uncertainty. Present value of Local Government Pension Scheme The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 18, will impact the carryi ng amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 August 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability. 1.5 Turnover Turnover represents rental income and service charges receivable, programme activities income, donations and local authority and other revenue grants receivable. Rental income is recognised when the property is let, net of voids. Service charge income and costs are recognised on an accruals basis, Housing Related Support income is recognised as it falls due under the contractual arrangement with the administering authorities. General Annual Grant relating to the academy trust is recognised in full in the Statement of Comprehensive Income in the year for which it is receivable and any abatement in respect of the period is deducted from income and recognised as a liability. Capital grants relating to the academy trust are recognised when there is entitlement and are not deferred over the life of the asset on which they are expended. Unspent amounts of capital grant are reflected in the balance in the restricted reserves. Sponsorship income provided to the academy which amounts to a donation is recognised in the Statement of Comprehensive Income in the period in which it is receivable, where receipt is probable and it is measurable. Housin Pro erties Housing properties are those held for the provision of social housing or to otherwise provide social benefit. Housing properties are stated at cost less accumulated depreciation and impairment losses. The cost of properties is their purchase price together with incidental costs of acquisitions, improvements and revaluation. Investment income Investment income is accounted for on a receivable basis. 55

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES {continued) 1.5 Turnover (continued) Government and other ca ital rants Government and other capital grants include grants receivable from HE, YMCA England, local authorities, and other government organisations. Government grants received for housing propertie5 are recognised in income over the useful life of the housing property structure under the accruals model. Government grants released on the sale of a property may be repayable but are normally available to be recycled and are credited to a Recycled Capital Grant fund. Grants relating to revenue are recognised in income and expenditure over the same period as the expenditure to which they relate once reasonable assurance has been gained that the entity will comply with the conditions and that the funds will be received. Grants due from government organisations or received in advance are included as current assets or l labilities. Other rants Grants received from non-government sources, whether 'capital' or 'revenue' grants, are recognised using the performance method. If there are no specific performance requirements then the grants are recognised when receivable. Income received in advance of the performance conditions being met is deferred and included in creditors. Other income Income from other activities includes income from fundraising events, hire of facilities, first aid training, bus hire and project match funding. Income is receivable in exchange for goods and services and is recognised when entitlement has occurred. 1.6 Investment propertie5 Investment properties consist of properties not held for social benefit. Investment properties are measured using the fair value model and stated at its fair value at the reporting date. The surplus or deficit on revaluation is recognised in income and expenditure. 1.7 Depreciation of housing properties Major components of housing properties are identified and treated as separable assets and are depreciated on a straight line basis over their expected economic useful lives at the fol lowing rates.. Property structure Roof Windows and external doors Kitchens 8athrooms Boilers 125 years 60 years 40 years 30 years 40 years 30 years Freehold land is not depreciated. Leasehold properties are amortised over the life of the lease or their estimated useful economic lives in the business, if shorter. 56

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES Icontlnued) 1.8 Other tangible fixed assets and depreciation Other tangible fixed assets a re stated at cost less accumulated depreciation. Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Statement of Financial Position at cost and depreciated over their expected usef ul economic life. For assets held by the academy trust, where there are specific conditions attached to the funding requiring the continLfed use of the asset, the related grants are credited to a restricted f ixed asset reserve in the Statement of Comprehensive Income and carried forward in the Statement of Financial Position. Depreciation on the relevant assets is charged directly to the restricted reserve in the Statement of Comprehensive Income, Where tangible fixed assets have been acquired with restricted funds, depreciation on such assets is charged to the Income and Expenditure Reserve. This treatment has been applied to present a true and fair view in accordance with the Academies Accounts Direction 2023-24. Depreciation has been provided at the following rates,. Freehold buildings Fixtures and fittings Music, sports and office equipment Computer equipment Motor vehicles Kitchen extension Music room extension Childrens home 100 years straight line 20% 125010 reducing balance 250/0 reducing balance 3 years straight line 25% reducing balance 50 years straight line 6 years straight line 9 years straight line Other freehold land is not depreciated. 1.9 Impairment Housin ro erties Reviews for impairment of housing properties are carried out when a trigger event has occurred and any impairment loss in a cash generating unit is recognised by a charge to the statement of comprehensive income. Impairment is recognised where the carrying value of a cash generating unit exceeds the higher of its net realisable value or its value in use, A cash generating unit is normally an individual property level whose cash income can be separately identified. Following a trigger event for impairment, an impairment test is performed based on fair value less costs to sell or a value in use calculation. The fair value less costs to sell calculation is based on available data from sales transactions in an arm's length transaction on similar cash generating units Ipropertiesl or observable market prices less incremental costs for disposing of the properties. The value in use calculation is based on either a depreciated replacement cost or a discounted cash flow model. The depreciated replacement cost is based on available data of the cost of constructing or acquiring replacement properties to provide the same level of service potential to the charity as the existing propertv. 57

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.9 Impairment {continued) Other fixed assets At each reporting period end date, the group reviews the carrying amounts of its tangible a5setS to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.10 Taxation The charity and its su bsidia ry undertal<ing are exempt from corporation tax on their charitable activities. 1.11 Reserves Income and ex enditure reserves Income and expenditure reserves are incoming resources receivable or generated in furtherance of the general objectives of the group without specified purpose and are available as general reserves. Restricted reserves Restricted reserves represent income received where the funder or other source of the income have imposed restrictions as to how the reserves shall be used. The nature and purpose of restricted reserves is set out in the notes to the financial statements. Restricted fixed asset reserves are resources which are applied to specific capital purposes i mposed by funders where the asset acquired or created is held for a specific purpose. Fair value reserves The difference on transition between the fair value of investment properties and the historical cost carrying value is credited to the fair value reserve. The difference between historical cost depreciation and depreciation charged on the fair value balance is transferred from the fair value reserve to the income and expenditure reserve. 1.12 Pension costs and other post retirement benefits The charity 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 charity. As described in note 17 the charity has a contractual obligation to make pension deficit payments of £10,329 per annum over the period to April 2027 {2023.' £12,368 per annum over the period to April 2029), accordingly this is shown as a liability in these accounts. In addition, the charity is required to contribute £3,292 {2023.. £2,930) per annum to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made. 58

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.12 Pension costs and other post retirement benefits (continued) Retirement benefits to employees of the subsidiary are provided by the Teachers, Pension Scheme l TPS l and the Local Government Pension Scheme l LGPS l. These are defined benefit schemes and the assets are held separately from those of the subsidiary. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees, working lives with the subsidiary in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. As stated in note 18, the TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. The LGPS is a funded scheme and the assets are held separately from those of the subsidiary in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of the scheme instructions, benefit charges, settlements and curtailments. They are incl uded as part of the staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of comprehensive income incorporating income and expenditure account and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses. For defined contribution pension schemes the amount charged to the Statement of Comprehensive Income is the contributions payable i n the year. 59

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued} 1.13 Leases Leases are classified a5 finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases. Assets held under finance leases are recognised initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payment51 at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring the surplus or deficit. Assets held under finance leases are included in tangible fixed assets and depreciated and assessed for impairment losses in the same way as owned assets. Rentals payable under operating leases are charged to income and expenditure on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the group recognises annual rent expense equal to amounts owed to the lessor. 1.14 Debtors and creditors receivable/payable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. 1.15 Financial instruments The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their Settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.16 Employee benefits Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. 60

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 2. TURNOVER, EXPENDITURE, OPERATING COSTS AND OPERATING SURPLUS/{DEFICIT) 2024 2023 Income from Social Housing Lettings Rents receivable excludi ng service charges Service charges receivable 193,393 481,929 178,832 409,782 Other social housing activities Government grants.. Supporting People grant Rochford DC support grant Amortisation of government grants Other grants: Other grants received Other income 138,853 8,667 4,713 138,853 10,833 4,713 40,958 44,975 2,560 15,212 Total 913,488 760,785 Activities other than social housing Income from Asylum Seeker properties Income from rental properties Activities for generating f unds Training Community Impact Positive Activities Children's Home 19,594 6,965 35,602 73,925 7,843 14,583 14,091 366,852 281,171 41,638 531,724 635,523 758,465 Total Charity Income 1,549,011 1,519,250 Educational operations (South Essex Community School Limited) DfE/ESFA grants Other government grants Other funding Donations and capital grants Other tradi ng activities 720,528 233,099 725,299 11,550 559,086 54,700 502,714 28,055 70 Total Income for Group 3,239,487 2,663,875 61

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 2. TURNOVER, EXPENDITURE, OPERATING COSTS AND OPERATING SURPLUS/{DEFICITI (continued) Activities other than social housing Social housing activities 2024 2023 Income 913,488 2,325,999 3,239,487 2,663,875 Operating expenditure 1843,1091 {1,974,252} 12,817,361) 12,801,378) Operating surplus/{deficit) 70,379 351,747 422,126 1137,503) Void losses 12,700 3. ACCOMMODATION IN MANAGEMENT AND DEVELOPMENT At the end of the year accommodation in management for each class of accommodation was as follows: Group 2024 No of units Charity 2024 No of units 2023 2023 Social housing Non-social housing IAsylum Seekers) Supported housing Total owned 35 36 42 35 36 38 38 42 2024 No of properties 2023 2024 No of propertie5 2023 Non-social housing Rental properties Total owned In the prior year, the contract to provide asylum seel<er accommodation ceased. The charity now hold one property as rental property and the other property is on the market to sell. 62

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 4. OPERATING SURPLus/{DEFICIT) The operating surplus/ldeficitl is arrived at after charging/{creditingl: ' Group 2024 Charity 2024 2023 2023 Depreciation on housing properties Depreciation of other tangible fixed assets Impairment of tangible fixed assets Profit/lLoss) on other tangible assets Operating lease rentals 20,033 95,792 19,971 97,917 65,921 591 20,033 35,791 19,971 40,868 65,921 591 3,279 43,842 3,279 42,178 54,567 51,173 Auditors, remuneration: Fees payable to the Charity's auditors., for the audit of the financial statements for other services Fees payable to the component auditors: Audit of the accounts of subsidiaries Total audit services 13,000 7,460 10,000 6,857 13,000 7,460 10,000 6,857 9,450 29,910 9,000 25,857 20,460 16,857 5. INTEREST RECEIVABLE Group 2024 Charity 2024 2023 2023 Interest received 12,297 12,297 2,070 2,070 5,296 5,296 1,999 1,999 6. INTEREST AND FINANCING COSTS Group 2024 Charity 2024 2023 2023 Interest on bank loans 56,037 56,037 46,450 46,450 56,037 56,037 46,450 46,450 63

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 7. STAFF COSTS 2024 2023 Wages and salaries social security costs Other pension costs 1,385,570 131,831 172,933 1,690,334 1,427,762 133,235 155,448 1,716,445 In addition to the above, contributions to the operating expenses of the YMCA Pension Plan of £3,051 were made 12023: £2,761). The average monthly number of employees expressed as full time equivalents (calculated based on a standard working week of 37 hours).. 2024 2023 Housing and support Training Positive activities Childrens home Management and administration South Essex Community School 24 21 42 44 The full time equivalent number of employees receiving annual remuneration excluding employer pension contributions in excess of £60,000 are.. £60,001 to £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £lOO,000 2024 2023 Key management personnel remuneration.. Salary Contributions to pension scheme 581,268 93,642 674,910 651,015 81,884 732,899 The highest paid director's emoluments and pension costs in the year ended 31 August 2024 were £88,728 12023.. £80,721) and £22,73612023: £18,989) respectively, The chief executive is a member of the multi-employer defined benefit pension plan for employees of YMCAS in England, Scotland and Wales. She is an ordinary member of the pension scheme and no enhanced or special terms apply. The charity does not make any further contribution to an individual pension arrangement for the chief executive. 64

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 8. TRUSTEES REMUNERATION, BENEFITS AND EXPENSES During the period trustees were reimbursed expenses totalling £nil12023: £nill, The principal of South Essex Community School Limited receives remuneration in respect of services they provide undertaking the roles of head teacher under their contracts of employment, and not in respect of their services as a trustee, The CEO of Southend YMCA receives remuneration in respect of services they provide undertaking the role of CEO under their contract of employment, and not in respect of their services as a trustee of the school. No other trustees received remuneration from Southend YMCA. 9. TANGIBLE FIXED ASSETS- HOUSING PROPERTIES Social housing Total housing properties properties Grou and charit COST At I September 2023 Additions Transfer to investment property At 31 August 2024 1,773,929 1,773,929 {157,5521 1,616,377 1157,552) 1,616,377 DEPRECIATION At I September 2023 Charge Transfer to investment property At 31 August 2024 141,656 20,033 125,936} 135,753 141,656 20,033 125,936) 135,753 NET BOOI< VALUE At 31 August 2024 1,480,624 1,480,624 At 31 August 2023 1,632,273 1,632,273 Social housing properties have been pledged as security for the bank loan and banking facilities. Social housing ussistance.. At 31 August 2024 there is no occumuloted sociol housing grant receivuble, however the estimoted amount of outstanding Sociol Housing Grant transferred to the charity in connection with the purchtyse of 'Newlands' was £874,363. 65

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 11. INVESTMENT PROPERTIES NON-SOCIAL HOUSING PROPERTIES HELD FOR LEThING Total investment properties Investment properties Grou and charit VALUATION At I September 2023 Transfer from housing properties Increase in value At 31 August 2024 131,616 58,384 190,000 131,616 58,384 190,000 Investment properties were valued by professional IV qualif led external valuers, Ayers & Cruiks in accordance with the RICS Valuation Global and UK Standards. The valuation was undertaken at 25 February 2025 and is considered by the trustees to reflect the fair value of the investment property at 31 August 2024. If assets were stated on a historical cost basis rather than valuation, the total amounts included would have been as follows.. 2024 2023 Cost Accumulated depreciation Carrying value 157,552 {25,9361 131,616 12. DEBTORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Group Trade debtors 8,932 33,970 {5,3911 5,255 66,493 109,259 5,392 38,641 13,3321 12,807 66,472 119,980 Rent and service charges receivable Less provision for bad debts Other debtors Prepayments and accrued income 2024 2023 Charitv Rent and service charges receivable Less provision for bad debts Other debtors Amounts due from subsidiary and associated undertakings Prepayments and accrued income 33,970 {5,3911 2,389 38,641 13,3321 11,161 57,970 88,938 58,240 104,710 67

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 10. TANGIBLE FIXED ASSETS- OTHER Academy Music, Sports Land and Leasehold Trust Land & Office buildings improvement and Buildlngs Equipment Flxtures, Fittlngs and Computer Motor Vehicles Total Fixed Assets Grou COST At I September 2023 Additions Disposals At 31 August 2024 626,839 74,161 2,132,557 32,059 92,689 542,110 127,690 3,596,046 96,181 128,240 17,8951 1100,000) (107,8951 630,396 27.690 3.616.391 626,839 74.161 2,164,616 92,689 DEPRECIATION At I September 2023 Charge Impairment Disposals At 31 August 2024 123,684 5,553 74,161 312,991 35,151 84,895 1,947 418.460 47,807 105,558 1,119,749 5,334 95,792 15,274 460,993 198,7781 1104,0521 12,114 1,111,489 129,237 74,161 348,142 86,842 NET BOOK VALUE At 31 August 2024 497,602 1,816,474 5,847 169,403 15,576 2,504,902 At 31 August 2023 503,155 1,819,566 7,794 123,650 22,132 2,476,297 The Secretary of State for Education holds a legal charge over the school site. At 31 August 2024 the net book value of the school site included within freehold land and buildings was £1,816,47412023: £1,819,566). Academy Music, Sports Land and Leasehold Trust Land & Office Fixtures and buildings improvement and Buildings Equipment Fittings Charit Motor Vehicles Total Fixed Assets COST At I September 2023 Additions Disposals At 31 August 2024 626,839 74,161 92,689 250,709 127,690 1,172,088 37,172 37,172 17,8951 1100,0001 1107,895) 279,986 27,690 1,101,365 626,839 74.161 92.689 DEPRECIATION At I September 2023 Charge Impairment Disposals At 31 August 2024 123,684 5,553 74,161 84,895 1,947 206,385 22,957 105,558 5,334 594,683 35,791 15,274) 224,068 {98,7781 1104,0521 12,114 526,422 129,237 74,161 86,842 NET BOOK VALUE At 31 Auaust 2024 497,602 5,847 55,918 15,576 574,943 At 31 August 2023 503,155 7,794 44,324 22,132 577,405 66

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 13. CREDITORS- AMOUNTS DUE FALLING WITHIN ONE YEAR 2024 2023 Group Bank loan Other loan Trade creditors Rent and service charges received in advance YMCA pension deficit agreement plan Deferred capital grant {note 161 Other taxation and social security Other creditors Accruals and deferred income 32,945 3,000 50,922 541 8,628 17,692 12,912 106,879 250,658 484,177 30,633 3,000 65,608 2,084 10,308 17,691 13,607 151,563 191,995 486,489 2024 2023 Charity Ban1< loan Other loan Trade creditors Rent and service charges received in advance YMCA pension deficit agreement plan Deferred capital grant (note 161 Other taxation and social security Other creditors Accruals and deferred income 32,945 3,000 50,922 541 8,628 17,692 12,912 16,611 186,627 329,878 30,633 3,000 65,608 2,084 10,308 17,691 13,607 76,848 165,212 384,991 Group accruals and deferred income includes the following deferred income.. 2024 2023 Group and Charitv National Lottery Find Your Voice BBC Children in Need UK Shared Prosperity Fund Essex Council for Voluntary Youth Services IECVYSI Sports England Police, Fire and Crime Commissioner Southend Borough Council young peoples homeless service Isupporting Peoplel Youth Music Southend Supports Breastfeeding My Future My Southend 43,941 16,322 27,921 53,492 4,150 13,685 4,320 9,097 11,571 2,504 4,886 23,142 12,465 7,485 15,000 123,241 126,740 68

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 14. CREDITORS- AMOUNTS DUE FALLING AFTER ONE YEAR 2024 2023 Group and Charity Bank loan Other loan YMCA pension deficit agreement plan Deferred capital grant (note 161 767,533 18,000 15,668 320,237 1,121,438 801,142 21,000 62,463 337,929 1,222,534 15. DEBT ANALYSIS Group 2024 Charitv 2024 2023 2023 Bank loans Other loans 800,478 21,000 821,478 831,775 24,000 855,775 800,478 21,000 821,478 831,775 24,000 855,775 Payable within one year Payable after one year 35,945 785,533 821,478 41,539 850,958 892,497 35,945 785,533 821,478 33,633 822,142 855,775 Amounts included above which fall due afterfive years, payable by instalments 635,753 678,609 635,753 678,609 Security One bank loan is secured by fixed charges on housing property known as 'Newlands' 85 Ambleside Drive, 5outhend on Sea and a debenture over Southend YMCA. This loan is repayable over 25 years from the date of drawdown being 27 November 2017 in monthly inst3lments at rates of interest ranging from the Breater of 2% pa over the Bank of England base rate or 2/0 pa. A second bank loan is also secured by fixed charges on housing property known as 'Newlands' 85 Ambleside Drive, Southend on Sea and a debenture over Southend YMCA. This loan is repayable over 10 years from the date of drawdown being l December 2021 in monthly instalments at a fixed rate of interest of 2.43/0 for the first 5 years and at rates of interest ranging from the greater of 20A pa over the Bank of England base rate or 2°A pa thereafter. 16. DEFERRED CAPITAL GRANT 2024 2023 Group and Charity At I September 2023 Grant received in the year Released to income in the year At 31 August 2024 355,620 373,312 {17,6911 337,929 {17,6921 355,620 69

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 17. LEASE COMMITMENTS Total future minimum lease payments under non-cancellable operating leases for each of the following periods is as follows.. 2024 2023 Group Within one year Between one and five years After 5 years 28,674 111,074 189,035 328,783 44,108 112,245 216,535 372,888 2024 2023 Charity Within one year Between one and five years After 5 years 28,258 111,074 189,035 328,367 40,828 111,833 216,535 369,196 70

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS YMCA Pension Plan The charity participated in a contributory pension plan providing def ined benef its based on f inal pensionable pay for employees of YMCAS in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of The Southend-on-sea Young Men's Christian Association and at the year end these were invested in the Mercer Dynamic De-risking Solution, 65OA matching portfolio and 35% in the growth portfolio and Schroder (property units onlvl. The most recent completed three year valuation was as at l May 2023. The assumptions used which have the most signif icant effect on the results of the valuation are those relating to the assumed rates of return on assets of 4.560A, the increase in pensions in payment of 3.180A Ifor RPI capped at 5% per annuml, and the life expectancy from normal retirement age {of 651 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.Im, which represented 92% of the benefits that had accrued to members. The Pension P5an 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 l May 2011. The valuation prepared as at l May 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. The charity has been advised that it will need to make monthly contributions of £861 from l May 2024. This amount is based on the current actuarial assumptions las 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 7'A12023: 3/}. The current recovery period is 3 years commencing 1st May 2024, Repayable Within One to Two to After More than one year two years five years five years one year Total 2024 Total 2023 As at 31 August 2024 8,628 9,232 6,436 15,668 24,296 As at 31 August 2023 10,308 10,992 37,405 14,066 62,463 72,771 Charity defined contribution scheme The charity also operates a defined contribution scheme, the assets of which are held separately from those of the charity. The charge for the period to the income and expenditure account in relation to this scheme is £15,06912023: £16,325). Contributions for employees were a minimum of 50/0 of salary and the employer contributions were 5Yo. 71

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) Other multi-employer defined-benefit schemes The employees of the South Essex Community School Limited belong to two principal pension schemes.. the Teachers, Pension Scheme for England and Wales ITPSI for academic and related staff,. and the Local Government Pension Scheme ILGPSI for non-teaching staff, which is managed by Essex County Council. Both are multi-employer defined-benefit schemes. The latest actuarial valuation of the TPS related to the period ended 31 March 2020 and of the LGPS 31 March 2022. Contributions amounting to £21,505 were payable to the schemes at 31 August 2024 (2023: £14,868) and are included withi n creditors. There were no outstanding or prepaid contributions at either the beginning or the end of the f inancial year. Teachers Pension Scheme Introduction The Teachers, Pension Scheme {TPSI is a statutory, contributory, defined benefit scheme, governed by the Teachers, Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in academies. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. Valuation of the Teachers, Pension Scheme The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation and subsequent consultation are., employer contribution rates set at 28.68% of pensionable pay {including a 0.08 % administration levyl. Th is is an increase of 50A in employer contributions and the cost control result is such that no change in member benefits is needed. total scheme liabilities {pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets {estimated future contributions together with the notional investments held at the valuation datel of £222,200 million, giving a notional past service deficit of £39,800 million. 72

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 IS. PENSION AND SIMILAR OBLIGATIONS (continued) A copy of the valuation report and supporting documentation is on the Teachers, Pension website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy is unable to identify its share of the underlying assets and liabilties of the plan. Accordingly, the academy has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The academy has set out above the information available on the scheme. Local Government Pension Scheme The LGP5 is a funded defined benefit scheme, with assets held in separate trustee-administered funds. The total contribution for the year ended 31 August 2024 was £58,000 12023: £55,000), of which employer's contributions totalled £46,000 12023.. £43,000) and employees, contributions totalled £12,000 {2023.. £12,000). The agreed contribution rates for future years are 23.30A for employers and 5.50A to 12.50A for employees. The LGPS obligation relates to the employees of the academy, who were the employees transferred as part of the conversion from the maintained school and new employees who were eligible to, and did, join the scheme in the year. The obligation in respect of employees who transferred on conversion represents their cumulative service at both the predecessor school and the academy at the balance sheet date. Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013. The amounts recognised in the balance sheet are as follows.. Defined benefit pension plans 2023 2024 Present value of funded obligations Fair value of plan assets {493,0001 493,000 1389,0001 392,000 3,000 Deficit 3,000 The amounts recognised in the statement of financial activities are: Defined benefit pension plans 2023 2024 Current service cost Interest cost 35,000 {I,000} 34,000 52,000 3,000 55,000 73

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) Changes in the present value of the defined benefit obligation are as follows,, Defined benefit pension plans 2023 2024 Opening defined benef it obligation Current service cost I nterest cost Employee contributions Actuarial losses/lgainsl Benefits paid Closing defined benefit obligation 389,000 35,000 21,000 12,000 41,000 15,000) 493,000 345,000 52,000 15,000 12,000 130,0001 {5,0001 389,000 Changes in the fair value of the share of scheme assets: Defined benefit pension plans 2023 2024 Opening fair value of scheme assets Interest income Contributions by employer Employee contributions Actuarial gains/llossesl Benefits paid Closing fair value of scheme assets 392,000 22,000 46,000 12,000 26,000 {5,0001 493,000 263,000 12,000 43,000 12,000 67,000 (5,0001 392,000 Principal actuarial assumptions at the balance sheet date.. 2024 2023 CPI increases Future sala ry increases Future pension increases Discount rate 3.90% 2.80/ 5.10% 5.300 74

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are: At 31 August 2023 2024 Retiring today Males Females 20.7 23.3 20.7 23.2 Retiring i n 20 years Males Females 22.0 24.7 22,0 24.6 The group's share of the assets in the scheme was.. Fair value at 31 August 2024 2023 Equities Gilts Property Cash Alternative assets Other managed funds Total market value of assets 276,000 9,000 35,000 8,000 74,000 91,000 228,000 5,000 31,000 11,000 62,000 55,000 493,000 392,000 The actual return on scheme assets was £48,00012023: £79,000). 75

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 19. FINANCIAL INSTRUMENTS The Group's financial instruments may be analysed as follows: 2024 2023 Flnancial assets: Financial assets that are debt instruments measure at amortised cost 1,544,912 1,251,387 Financial liabilities; Financial liabilities measured at amortised cost 992,732 1,088,637 Financial assets measured at amortised cost comprise cash at bank and in hand, trade debtors and other debtor5. Financial liabilities measured at amortised cost comprise trade creditors, taxation and social security, other creditors, housing and bank loans. 20. MOVEMENT IN RESTRICTED RESERVES Asatl September 2023 Movement in Asat31 the year August 2024 Cherry Family Trust National Lottery- Find Your Voice South Essex Community School: Commissioning Fund Pupil premium Local Authoritv Pension Restricted f ixed assets fu nds Total Restricted Reserves 13,802 113,8021 2,766 2,766 576,262 204,850 33,053 56,931 (3,0001 31,067 311,865 781,112 33,053 79,500 22,569 3,000 1,898,892 2,514,525 1,929,959 2,826,390 76

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 20. MOVEMENT IN RESTRICTED RESERVES {continued) Restricted Funds These funds represent the accumulated surpluses from funds available for a specific purpose: Cherry Family Trust Funds were received to pay for an upgrade to the CCTV system at Newlands property. The National Lottery Community Fund - Find Your Volce A project funded by the National Lottery Community Fund to help young people become more active within their community with additional funding to support the sustainability of youth work including Support for utility costs and investment into greening of the Newlands property as a cost saving measure, South Essex Community School: Restrlcted general funds These funds relate to the Academy's development and operational activities. Restricted pension funds These funds represent the LGPS obligation to the employees of the Academy Trust. Restricted fixed asset funds These funds relate to long term assets held by the Academy Trust and grants to purchase or maintain these assets. 21. CONTROL There is no ulti mate controlling party. 77

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 22. PARTICULARS OF SUBSIDIARY The charity 15 a member of South Essex Community School {Limited by Guarantee) and has the right to appoint or remove a majority of its board members. South Essex Community School (Limited by Guarantee) therefore falls within the definition of a subsidiary found in section 1159111{bl of the Companies Att 2006, The subsidiary's results as extracted from the statutory financial statements for the year ended 31 August 2024 are outlined below.. 2024 2023 I ncoming resources from charitable activities - Educational operations I ncoming resources from charitable activities Other income Resources expended 1,678,926 1,116,500 18,551 28,196 11,373,057) (1,043,298) 324,420 101,398 The aggregate of the assets, liabilities and reserves were: 2024 2023 Fixed Assets Current Assets Current Liabilities 1,929,959 1,059,554 (154,2991 2,835,214 1,898,892 710,400 198,4981 2,510,794 23. RECONCILIATION OF NET MOVEMENT IN RESERVES TO NET CASH FLOW FROM OPERATING ACTIVITES Group 2024 2023 Surplus/lDeficit) for the year Depreciation of housing properties Depreciation of other f ixed assets Impairment of tangible fixed assets Uplift in valuation of investment property Loss on sale of other fixed assets Interest payable Interest received Capital grant Decreaselllncreasel in debtors (Decrease} in creditors 460,910 20,033 95,792 1150,804) 19,971 97,917 65,921 158,384) 3,343 56,037 {12,2971 591 46,450 12,0701 10,721 (66,1111 67,064 (37,8501 Net cash generated from operating activities 510,044 107,190 78

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 24. ANALYSIS OF CHANGES IN NET DEBT Asatl September 2023 Other non- cash Asat31 Cash flows movements August 2024 Cash Loans due within one year Loans due after one year 1,197,879 (33,633} (822,142} 342,104 304,267 34,297 1,502,146 135,9451 1785,5331 680,668 (36,6091 36,609 338,564 25. RELATED PARTY TRANSACTIONS During the year, legal fees amounting to £2,754 {2023: £2,556) were incurred from Duncan Lewis (Solicitors) Ltd, a company in which D Bland is a director. D Bland is a trustee of the charitv. All transactions were conducted under normal market condition5. Southend YMCA is the parent entity in the group and ultimate controlling party, The group has taken advantage of the exemption available under Section 33 of FRS 102 not to disclose transactions with wholly owned subsidiary undertakings, South Essex Communit School Owing to the nature of the school's operation5 and the composition of the school's board of trustees being drawn from public local and private sector organisations, transactions may take place with organisations in which the academy trust has an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the school's financial regulations and normal procurement procedures. 79

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 26. MEMBERS The Board of trustees are the only members of the YMCA. The company is limited by guarantee, having no share capital and, in accordance with the Memorandum of Association; every member is liable to contribute a sum of £1 in the event of the company being wound up. 2024 2023 Number of members No At I September Joining during the year Leaving during the year At 31 August 131 121 80

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORTTO THE MEMBERS FOR THE YEAR ENDED 31 AUGUST 2024 Opinion We have audited the financial statements of Southend-on-sea Young Men's Christian Association (Limited by guarantee) and it's subsidiary for the year ended 31 August 2024 which comprise a Statement of Comprehensive Income, Statement of Ch3nges in Reserves, Statement of Financial Position, Statement of Cash Flows and notes to the fina ncial statements, including significant accounting policies. The f inancial reporting framework that has been applied in their preparation is applicable Saw 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 the charity's affairs as at 31 August 2024 and of the group's income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs IUKII 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 Ul(, 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 board's 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 responsi bilities of the board with respect to going concern are described in the relevant sections of this report. 45

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORT TO THE MEMBERS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Other information The other information comprises the information included in the annual report, other than the financial statements and our a uditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statement5 does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expres5 any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard, Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertal<en in the coijrse of the audit.. the information given in the trustees, report for the financial yoa r for which the financial statements are prepared is consistent with the financial statements; and the trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our l<nowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, 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 l<ept by the parent charity, or returns adequate for our audit have not been received from branches not visited by us,. or the parent charity financial statements are not in agreement with the accounting records and returns. or certain disclosures of di rectors, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tal<e advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion: a satisfactory system of control over transactions has not been maintained. 46

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORTTO THE MEMBERS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 Responsibilities of trustees As explained more f ully in the trustees, responsibilities statement set out on pages 42 to 43, the trustees (who are also the directors of the association for the purposes of charity lawl 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or to 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 ijsers taken on the basis of these financia I statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibil ities, 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.. In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; Assessing whether the judgements made in accounting estimates are indicative of a potential basis; Evaluating the rationale of any significant transactions that are unusual or outside the normal course of busi ness; Analytical procedures are performed as well as substantive testing to identify any potential misstatement due to fraud; and The audit procedures would also involve being aware of any such items from reviewing minutes and third party communications and reports and discussions held with staff and management to obtain an understanding. 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. 47

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES INDEPENDENT AUDITORS REPORT TO THE MEMBERS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 Auditors responsibilities for the audit of the financial statements (continued) A further description of our responsibilities is available on the Financial Reporting Council's website at httPs://www.frc.org.ul</auditorsrespon5ibilities. 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 undertal<en so that we might state to the charity's trustees those matters we are required to state 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 members as a body, for our audit worl<, for this report, or for the opinions we have formed. Kerry Hilliard ACA FCCA CTA (Senior Statutory Auditor) for and on behalf of Price Bailey LLP Statutory Auditor 36 Tyndall Court Commerce Road Lynchwood PeterboroLtgh PE2 6LR Date: 48

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 AUGUST 2024 Year ended Year ended 2024 2023 Note Turnover 3,239,487 2,663,875 Operating expenditure Operating costs 12,817,361) 12,867,299) Operating surplusl(deficit) 422,126 1203,424) Interest receivable 12,297 2,070 Interest payable 156,0371 {46,4501 Surplus/(deficit) before tax 378,386 1247,804) Taxation Surplus/(def icitl for the year 378,386 1247,8041 I ncrease in valuation of investment properties Actuarial gain in respect of pension schemes li 58,384 24,140 97,000 Total comprehensive income for the year 460,910 (150,8041 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. All of the above amounts relate wholly to continuing activities. The accompanying notes form part of these financial statements. The financial statements were approved by the Board on S Onslow Chairman D Bland Director Company Registration No. 05051166 (England and Wales) Charlty Registration No. 1102837 Homes England No. 4853 49

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES GROUP AND CHARITY STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2024 Group 2024 Charity 2024 2023 2023 Note Fixed assets Tangi ble f ixed assets - housing properties Other tangible fixed assets Investment properties 1,480,624 2,504,902 190,000 4,175,526 1,632,273 2,476,297 1,480,624 1,632,273 574,943 577,405 190,000 2,245,567 io li 4,108,570 2,209,678 Current assets Trade and other debtors Cash at bank and in hand 12 109,259 1,502,146 119,980 1,197,879 88,938 462,913 104,710 502,749 1,611,405 1,317,859 551,851 607,459 Creditors: amounts falling due within one year 13 1484,1771 (486,4891 1329,8781 1384,9911 Net current assets/(lia bilities} 1,127,228 831,370 221,973 222,468 Total assets less current liabilities 5,302,754 4,939,940 2,467,540 2,432,146 Creditors: amounts falling due after one year 14 {1,121,438} {1,222,534} 11,121,438) (1,222,534) Provisions for liabilities Def ined benefit pension scheme liability 18 3,000 TOTAL NET ASSETS 4,181,316 3,720,406 1,346,102 1,209,612 RESERVES Income and expenditure reserve Fair value reserve Restricted reserve 1,296,542 58,384 2,826,390 1,205,881 1,284,952 58,384 2,766 1,195,810 20 2,514,525 13,802 4,181,316 3,720,406 1,346,102 1,209,612 The net movement in funds for the year for the charity only was net surplus of £136,490 12023: deficit of £252,193). The charity's income was £1,554,307 (2023.. £1,521,249) less expenditure of £1,515,34112023: £1,773,442), actuarial gains of £39,14012023: nil} and increase in valuation of investment property of £58,38412023: nil}. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The accompanying notes form part of these financial statements, The financial statements were issued and approved by the Board on S Onslow Chairman D Bland Director Company Registration No. 05051166 (England and Wales) Charity Registration No. 1102837 Homes England No. 4853 50

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES GROUP AND CHARITY STATEMENT OF CHANGES IN RESERVES AS AT 31 AUGUST 2024 Group Income and expenditure reserve Restricted Fair value Restricted fixed asset Total reserve reserve reserve Balance as at I September 2022 1,456,401 506,726 1,908,083 3,871,210 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve {150,8041 1150,8041 {99,716) 108,907 19,1911 Balance at 31 August 2023 1,205,881 615,633 1,898,892 3,720,406 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve 402,526 58,384 460,910 1311,8651 280,798 31,067 Balance at 31 August 2024 1,296,542 896,431 58,384 1,929,959 4,181,316 Charity Income and expenditure reserve Restricted Fair value Restricted fixed asset Total reserve reserve reserve Balance as at I September 2022 1,449,840 11,965 1,461,805 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve {252,1931 (252,193) 11,837) 1,837 Balance at 31 August 2023 1,195,810 13,802 1,209,612 Total comprehensive income for the year Transfer of restricted expenditure from unrestricted reserve 78,106 58,384 136,490 11,036 111,0361 Balance at 31 August 2024 1,284,952 2,766 58,384 1,346,102 51

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 Group 2024 2023 Note Net cash flow from operating activitles 23 510,044 107,190 510,044 107,190 Cash flow from investinE activities Purchase of tangible f ixed assets Proceeds from sale of tangi ble fixed assets Interest income 1128,2401 500 12,297 1107,3071 2,070 Net cash flow from investing activities 1115,4431 1105,2371 Cash flow from financing activities Interest paid Repayment of long term loans 156,0371 134,2971 146,4501 136,7221 Net cash flow from financing activities 190,3341 183,1721 Net increase in cash and cash equivalents 304,267 181,2191 Cash and cash equivalents at the beginning of the year 1,197,879 1,279,098 Cash and cash equivalents at the end of the vear 1,502,146 1,197,879 Cash and cash equivalents consists of: Cash at bank and in hand 1,502,146 1,197,879 Cash and cash equivalents at the end of the year 1,502,146 1,197,879 52

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 LEGAL STATUS Southend-on-sea Young Men's Christian Association {the charity} is a private company limited by guarantee incorporated in England under the Companies Act 2006, registered with the Homes and Communities Agency as a private registered provider of social housing and is a registered charity. The registered office is Newlands, 85 Ambleside Drive, Southend-on-sea, SSI 2FY. Southend-on-sea Young Men's Christian Association has one subsidiary, South Essex Community School Ilimited by Guarantee), registered under the Companies Act 2006 and an exempt charity lan Academy Trust) reporting to the Secretary of State. I. ACCOUNTING POLICIES 1.1 Basis of accounting The Group's financial statements have been prepared in accordance with applicable United Kingdom Generally Accepted Accounting Practice (UK GAAPI including Financial Reporting Standard 102 and the Statement of Recommended Practice for registered housing providers: Housing SORP 2018, The financial statements comply with the Companies Act 2006, the Housing Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022. The accounts are prepared on the historical cost basis of accounting and are presented in sterling £. The subsidiary undertaking is an Academy Trust. Consideration has also been given to the Charities SORP (FRS 102) and the Academies Accounts Direction 2023 to 2024, where this is deemed appropriate in order to give a true and fair view. The charity constitutes a Public Benef it Entity as defined by FRS 102. Parent com an disclosure exem tions In preparing the separate financial statements of the parent company, advantage has been taken of the following disclosure exemptions available in FRS 102. the requirement to present a statement of cash flows and related notes; disclosures in respect of the parent company's financial instruments have not been presented as equivalent disclosure exemptions available in FRS 102; no disclosure has been given for the aggregate remuneration of the key management personnel of the parent company because their remuneration is included in the totals for the group as a whole. 1.2 Basis of consolidation The Group f inancial statements consolidate the financial statements of the charity and its subsidiary South Essex Community School (Limited by Guarantee). The results of the subsidiary have been consolidated on a line-by-line basis for the year ended 31 August 2024. The South Essex Community School is a subsidiary of the main charity under section 1162121 {bl of the Companies Act 2006. The section defines 'parent undertaking" and "subsidiary undertaking" for the purposes of the Companies Acts. An undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if it is a member of the undertaking and has a right to appoint or remove a majority of its board of directors. The results of South Essex Community School are shown in note 22. In accordance with section 408 of the companies Act 2006, no individual financial statements have been prepared for the parent company. 53

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.3 Going concern The group's business activities, its current financial position and factors likely to affect its f uture development are set out within the report from the board. The group has in place long-term debt facilities which provide adequate resources to finance corn￿1tted reinvestment and development programmes, along with the group's day to dav operations. The continuing operational existence of the company is dependent upon the continuing support of the main lender forthe group, CAF Bank Ltd. Throughout the 3ccounting year and since the year end, the group has been in communication with the main lender and has received support in the form of a loan covenant waiver. Based upon mitigated budgets and up to date management accounts, the board of trustees are confident that the risk of the coven3nt being breached going forward is low. On this basis, the board has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and f inancial statements are signed. For this reason, it continues to adopt the going concern basis in the financial statements. 1.4 Judgements and key source5 of estlmation uncertaintv Preparation of the financial statements requires management to make significant judgements and estimates. The following judgements and experts have had the most significant effect on the amounts recognised in the financial statements.. Housin related su ort income Management judgement is applied in determining the extent to which the risks and benefits are transferred to the charity when considering the income to be recognised. Government and other rants tal(en to i ncome Where entitlement to income is subject to fulf illing performance related conditions, judgement is applied in some situations to determine the stage of completion and the related income to be recognised, rather than deferred. Cost allocation Judgement is required in determining and applying the basis of regulated social housing activity and activities other than social housing costs. Cate orisation of housin and other erties The group has undertaken a detailed review of the intended use of all properties. In determining the intended use, the group has considered if the asset is held for social benefit or to earn commercial rentals. ro Tan ible fixed assets Depreciation is charged on tangible fixed assets over their estimated useful lives, tal<ing into account residual value if appropriate. The actual lives of the assets and their residual values are assessed annually and may vary depending on a number of assumptions. 54

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.4 Judgements and key sources of estimation uncertainty (continued) Pension benef its The cost of defined benefit pension plans and other post-employment benefits are determined using actuarial valuations. The actuarial valuation involves making assumptions about discount rates, future salary increases, mortality rates and future pension increases. Due to the complexity of the valuation, the underlying assumptions and the long term nature of these plans, such estimates are subject to significant uncertainty. Present value of Local Government Pension Scheme The present value of the Local Government Pension Scheme defined benefit liability depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate. Any changes in these assumptions, which are disclosed in note 18, will impact the carryi ng amount of the pension liability. Furthermore a roll forward approach which projects results from the latest full actuarial valuation performed at 31 March 2022 has been used by the actuary in valuing the pensions liability at 31 August 2024. Any differences between the figures derived from the roll forward approach and a full actuarial valuation would impact on the carrying amount of the pension liability. 1.5 Turnover Turnover represents rental income and service charges receivable, programme activities income, donations and local authority and other revenue grants receivable. Rental income is recognised when the property is let, net of voids. Service charge income and costs are recognised on an accruals basis, Housing Related Support income is recognised as it falls due under the contractual arrangement with the administering authorities. General Annual Grant relating to the academy trust is recognised in full in the Statement of Comprehensive Income in the year for which it is receivable and any abatement in respect of the period is deducted from income and recognised as a liability. Capital grants relating to the academy trust are recognised when there is entitlement and are not deferred over the life of the asset on which they are expended. Unspent amounts of capital grant are reflected in the balance in the restricted reserves. Sponsorship income provided to the academy which amounts to a donation is recognised in the Statement of Comprehensive Income in the period in which it is receivable, where receipt is probable and it is measurable. Housin Pro erties Housing properties are those held for the provision of social housing or to otherwise provide social benefit. Housing properties are stated at cost less accumulated depreciation and impairment losses. The cost of properties is their purchase price together with incidental costs of acquisitions, improvements and revaluation. Investment income Investment income is accounted for on a receivable basis. 55

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES {continued) 1.5 Turnover (continued) Government and other ca ital rants Government and other capital grants include grants receivable from HE, YMCA England, local authorities, and other government organisations. Government grants received for housing propertie5 are recognised in income over the useful life of the housing property structure under the accruals model. Government grants released on the sale of a property may be repayable but are normally available to be recycled and are credited to a Recycled Capital Grant fund. Grants relating to revenue are recognised in income and expenditure over the same period as the expenditure to which they relate once reasonable assurance has been gained that the entity will comply with the conditions and that the funds will be received. Grants due from government organisations or received in advance are included as current assets or l labilities. Other rants Grants received from non-government sources, whether 'capital' or 'revenue' grants, are recognised using the performance method. If there are no specific performance requirements then the grants are recognised when receivable. Income received in advance of the performance conditions being met is deferred and included in creditors. Other income Income from other activities includes income from fundraising events, hire of facilities, first aid training, bus hire and project match funding. Income is receivable in exchange for goods and services and is recognised when entitlement has occurred. 1.6 Investment propertie5 Investment properties consist of properties not held for social benefit. Investment properties are measured using the fair value model and stated at its fair value at the reporting date. The surplus or deficit on revaluation is recognised in income and expenditure. 1.7 Depreciation of housing properties Major components of housing properties are identified and treated as separable assets and are depreciated on a straight line basis over their expected economic useful lives at the fol lowing rates.. Property structure Roof Windows and external doors Kitchens 8athrooms Boilers 125 years 60 years 40 years 30 years 40 years 30 years Freehold land is not depreciated. Leasehold properties are amortised over the life of the lease or their estimated useful economic lives in the business, if shorter. 56

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES Icontlnued) 1.8 Other tangible fixed assets and depreciation Other tangible fixed assets a re stated at cost less accumulated depreciation. Where tangible fixed assets have been acquired with the aid of specific grants, either from the government or from the private sector, they are included in the Statement of Financial Position at cost and depreciated over their expected usef ul economic life. For assets held by the academy trust, where there are specific conditions attached to the funding requiring the continLfed use of the asset, the related grants are credited to a restricted f ixed asset reserve in the Statement of Comprehensive Income and carried forward in the Statement of Financial Position. Depreciation on the relevant assets is charged directly to the restricted reserve in the Statement of Comprehensive Income, Where tangible fixed assets have been acquired with restricted funds, depreciation on such assets is charged to the Income and Expenditure Reserve. This treatment has been applied to present a true and fair view in accordance with the Academies Accounts Direction 2023-24. Depreciation has been provided at the following rates,. Freehold buildings Fixtures and fittings Music, sports and office equipment Computer equipment Motor vehicles Kitchen extension Music room extension Childrens home 100 years straight line 20% 125010 reducing balance 250/0 reducing balance 3 years straight line 25% reducing balance 50 years straight line 6 years straight line 9 years straight line Other freehold land is not depreciated. 1.9 Impairment Housin ro erties Reviews for impairment of housing properties are carried out when a trigger event has occurred and any impairment loss in a cash generating unit is recognised by a charge to the statement of comprehensive income. Impairment is recognised where the carrying value of a cash generating unit exceeds the higher of its net realisable value or its value in use, A cash generating unit is normally an individual property level whose cash income can be separately identified. Following a trigger event for impairment, an impairment test is performed based on fair value less costs to sell or a value in use calculation. The fair value less costs to sell calculation is based on available data from sales transactions in an arm's length transaction on similar cash generating units Ipropertiesl or observable market prices less incremental costs for disposing of the properties. The value in use calculation is based on either a depreciated replacement cost or a discounted cash flow model. The depreciated replacement cost is based on available data of the cost of constructing or acquiring replacement properties to provide the same level of service potential to the charity as the existing propertv. 57

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.9 Impairment {continued) Other fixed assets At each reporting period end date, the group reviews the carrying amounts of its tangible a5setS to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.10 Taxation The charity and its su bsidia ry undertal<ing are exempt from corporation tax on their charitable activities. 1.11 Reserves Income and ex enditure reserves Income and expenditure reserves are incoming resources receivable or generated in furtherance of the general objectives of the group without specified purpose and are available as general reserves. Restricted reserves Restricted reserves represent income received where the funder or other source of the income have imposed restrictions as to how the reserves shall be used. The nature and purpose of restricted reserves is set out in the notes to the financial statements. Restricted fixed asset reserves are resources which are applied to specific capital purposes i mposed by funders where the asset acquired or created is held for a specific purpose. Fair value reserves The difference on transition between the fair value of investment properties and the historical cost carrying value is credited to the fair value reserve. The difference between historical cost depreciation and depreciation charged on the fair value balance is transferred from the fair value reserve to the income and expenditure reserve. 1.12 Pension costs and other post retirement benefits The charity 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 charity. As described in note 17 the charity has a contractual obligation to make pension deficit payments of £10,329 per annum over the period to April 2027 {2023.' £12,368 per annum over the period to April 2029), accordingly this is shown as a liability in these accounts. In addition, the charity is required to contribute £3,292 {2023.. £2,930) per annum to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made. 58

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued) 1.12 Pension costs and other post retirement benefits (continued) Retirement benefits to employees of the subsidiary are provided by the Teachers, Pension Scheme l TPS l and the Local Government Pension Scheme l LGPS l. These are defined benefit schemes and the assets are held separately from those of the subsidiary. The TPS is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees, working lives with the subsidiary in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a prospective unit credit method. As stated in note 18, the TPS is an unfunded multi-employer scheme with no underlying assets to assign between employers. The TPS is therefore treated as a defined contribution scheme for accounting purposes and the contributions recognised in the period to which they relate. The LGPS is a funded scheme and the assets are held separately from those of the subsidiary in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent term and currency to the liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The amounts charged to operating surplus are the current service costs and the costs of the scheme instructions, benefit charges, settlements and curtailments. They are incl uded as part of the staff costs as incurred. Net interest on the net defined benefit liability/asset is also recognised in the Statement of comprehensive income incorporating income and expenditure account and comprises the interest cost on the defined benefit obligation and interest income on the scheme assets, calculated by multiplying the fair value of the scheme assets at the beginning of the period by the rate used to discount the benefit obligations. The difference between the interest income on the scheme assets and the actual return on the scheme assets is recognised in other recognised gains and losses. Actuarial gains and losses are recognised immediately in other recognised gains and losses. For defined contribution pension schemes the amount charged to the Statement of Comprehensive Income is the contributions payable i n the year. 59

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POLICIES (continued} 1.13 Leases Leases are classified a5 finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases. Assets held under finance leases are recognised initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payment51 at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring the surplus or deficit. Assets held under finance leases are included in tangible fixed assets and depreciated and assessed for impairment losses in the same way as owned assets. Rentals payable under operating leases are charged to income and expenditure on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the group recognises annual rent expense equal to amounts owed to the lessor. 1.14 Debtors and creditors receivable/payable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. 1.15 Financial instruments The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their Settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.16 Employee benefits Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred. 60

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 2. TURNOVER, EXPENDITURE, OPERATING COSTS AND OPERATING SURPLUS/{DEFICIT) 2024 2023 Income from Social Housing Lettings Rents receivable excludi ng service charges Service charges receivable 193,393 481,929 178,832 409,782 Other social housing activities Government grants.. Supporting People grant Rochford DC support grant Amortisation of government grants Other grants: Other grants received Other income 138,853 8,667 4,713 138,853 10,833 4,713 40,958 44,975 2,560 15,212 Total 913,488 760,785 Activities other than social housing Income from Asylum Seeker properties Income from rental properties Activities for generating f unds Training Community Impact Positive Activities Children's Home 19,594 6,965 35,602 73,925 7,843 14,583 14,091 366,852 281,171 41,638 531,724 635,523 758,465 Total Charity Income 1,549,011 1,519,250 Educational operations (South Essex Community School Limited) DfE/ESFA grants Other government grants Other funding Donations and capital grants Other tradi ng activities 720,528 233,099 725,299 11,550 559,086 54,700 502,714 28,055 70 Total Income for Group 3,239,487 2,663,875 61

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 2. TURNOVER, EXPENDITURE, OPERATING COSTS AND OPERATING SURPLUS/{DEFICITI (continued) Activities other than social housing Social housing activities 2024 2023 Income 913,488 2,325,999 3,239,487 2,663,875 Operating expenditure 1843,1091 {1,974,252} 12,817,361) 12,801,378) Operating surplus/{deficit) 70,379 351,747 422,126 1137,503) Void losses 12,700 3. ACCOMMODATION IN MANAGEMENT AND DEVELOPMENT At the end of the year accommodation in management for each class of accommodation was as follows: Group 2024 No of units Charity 2024 No of units 2023 2023 Social housing Non-social housing IAsylum Seekers) Supported housing Total owned 35 36 42 35 36 38 38 42 2024 No of properties 2023 2024 No of propertie5 2023 Non-social housing Rental properties Total owned In the prior year, the contract to provide asylum seel<er accommodation ceased. The charity now hold one property as rental property and the other property is on the market to sell. 62

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 4. OPERATING SURPLus/{DEFICIT) The operating surplus/ldeficitl is arrived at after charging/{creditingl: ' Group 2024 Charity 2024 2023 2023 Depreciation on housing properties Depreciation of other tangible fixed assets Impairment of tangible fixed assets Profit/lLoss) on other tangible assets Operating lease rentals 20,033 95,792 19,971 97,917 65,921 591 20,033 35,791 19,971 40,868 65,921 591 3,279 43,842 3,279 42,178 54,567 51,173 Auditors, remuneration: Fees payable to the Charity's auditors., for the audit of the financial statements for other services Fees payable to the component auditors: Audit of the accounts of subsidiaries Total audit services 13,000 7,460 10,000 6,857 13,000 7,460 10,000 6,857 9,450 29,910 9,000 25,857 20,460 16,857 5. INTEREST RECEIVABLE Group 2024 Charity 2024 2023 2023 Interest received 12,297 12,297 2,070 2,070 5,296 5,296 1,999 1,999 6. INTEREST AND FINANCING COSTS Group 2024 Charity 2024 2023 2023 Interest on bank loans 56,037 56,037 46,450 46,450 56,037 56,037 46,450 46,450 63

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 7. STAFF COSTS 2024 2023 Wages and salaries social security costs Other pension costs 1,385,570 131,831 172,933 1,690,334 1,427,762 133,235 155,448 1,716,445 In addition to the above, contributions to the operating expenses of the YMCA Pension Plan of £3,051 were made 12023: £2,761). The average monthly number of employees expressed as full time equivalents (calculated based on a standard working week of 37 hours).. 2024 2023 Housing and support Training Positive activities Childrens home Management and administration South Essex Community School 24 21 42 44 The full time equivalent number of employees receiving annual remuneration excluding employer pension contributions in excess of £60,000 are.. £60,001 to £70,000 £70,001 to £80,000 £80,001 to £90,000 £90,001 to £lOO,000 2024 2023 Key management personnel remuneration.. Salary Contributions to pension scheme 581,268 93,642 674,910 651,015 81,884 732,899 The highest paid director's emoluments and pension costs in the year ended 31 August 2024 were £88,728 12023.. £80,721) and £22,73612023: £18,989) respectively, The chief executive is a member of the multi-employer defined benefit pension plan for employees of YMCAS in England, Scotland and Wales. She is an ordinary member of the pension scheme and no enhanced or special terms apply. The charity does not make any further contribution to an individual pension arrangement for the chief executive. 64

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION {LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 8. TRUSTEES REMUNERATION, BENEFITS AND EXPENSES During the period trustees were reimbursed expenses totalling £nil12023: £nill, The principal of South Essex Community School Limited receives remuneration in respect of services they provide undertaking the roles of head teacher under their contracts of employment, and not in respect of their services as a trustee, The CEO of Southend YMCA receives remuneration in respect of services they provide undertaking the role of CEO under their contract of employment, and not in respect of their services as a trustee of the school. No other trustees received remuneration from Southend YMCA. 9. TANGIBLE FIXED ASSETS- HOUSING PROPERTIES Social housing Total housing properties properties Grou and charit COST At I September 2023 Additions Transfer to investment property At 31 August 2024 1,773,929 1,773,929 {157,5521 1,616,377 1157,552) 1,616,377 DEPRECIATION At I September 2023 Charge Transfer to investment property At 31 August 2024 141,656 20,033 125,936} 135,753 141,656 20,033 125,936) 135,753 NET BOOI< VALUE At 31 August 2024 1,480,624 1,480,624 At 31 August 2023 1,632,273 1,632,273 Social housing properties have been pledged as security for the bank loan and banking facilities. Social housing ussistance.. At 31 August 2024 there is no occumuloted sociol housing grant receivuble, however the estimoted amount of outstanding Sociol Housing Grant transferred to the charity in connection with the purchtyse of 'Newlands' was £874,363. 65

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 11. INVESTMENT PROPERTIES NON-SOCIAL HOUSING PROPERTIES HELD FOR LEThING Total investment properties Investment properties Grou and charit VALUATION At I September 2023 Transfer from housing properties Increase in value At 31 August 2024 131,616 58,384 190,000 131,616 58,384 190,000 Investment properties were valued by professional IV qualif led external valuers, Ayers & Cruiks in accordance with the RICS Valuation Global and UK Standards. The valuation was undertaken at 25 February 2025 and is considered by the trustees to reflect the fair value of the investment property at 31 August 2024. If assets were stated on a historical cost basis rather than valuation, the total amounts included would have been as follows.. 2024 2023 Cost Accumulated depreciation Carrying value 157,552 {25,9361 131,616 12. DEBTORS- AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Group Trade debtors 8,932 33,970 {5,3911 5,255 66,493 109,259 5,392 38,641 13,3321 12,807 66,472 119,980 Rent and service charges receivable Less provision for bad debts Other debtors Prepayments and accrued income 2024 2023 Charitv Rent and service charges receivable Less provision for bad debts Other debtors Amounts due from subsidiary and associated undertakings Prepayments and accrued income 33,970 {5,3911 2,389 38,641 13,3321 11,161 57,970 88,938 58,240 104,710 67

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 10. TANGIBLE FIXED ASSETS- OTHER Academy Music, Sports Land and Leasehold Trust Land & Office buildings improvement and Buildlngs Equipment Flxtures, Fittlngs and Computer Motor Vehicles Total Fixed Assets Grou COST At I September 2023 Additions Disposals At 31 August 2024 626,839 74,161 2,132,557 32,059 92,689 542,110 127,690 3,596,046 96,181 128,240 17,8951 1100,000) (107,8951 630,396 27.690 3.616.391 626,839 74.161 2,164,616 92,689 DEPRECIATION At I September 2023 Charge Impairment Disposals At 31 August 2024 123,684 5,553 74,161 312,991 35,151 84,895 1,947 418.460 47,807 105,558 1,119,749 5,334 95,792 15,274 460,993 198,7781 1104,0521 12,114 1,111,489 129,237 74,161 348,142 86,842 NET BOOK VALUE At 31 August 2024 497,602 1,816,474 5,847 169,403 15,576 2,504,902 At 31 August 2023 503,155 1,819,566 7,794 123,650 22,132 2,476,297 The Secretary of State for Education holds a legal charge over the school site. At 31 August 2024 the net book value of the school site included within freehold land and buildings was £1,816,47412023: £1,819,566). Academy Music, Sports Land and Leasehold Trust Land & Office Fixtures and buildings improvement and Buildings Equipment Fittings Charit Motor Vehicles Total Fixed Assets COST At I September 2023 Additions Disposals At 31 August 2024 626,839 74,161 92,689 250,709 127,690 1,172,088 37,172 37,172 17,8951 1100,0001 1107,895) 279,986 27,690 1,101,365 626,839 74.161 92.689 DEPRECIATION At I September 2023 Charge Impairment Disposals At 31 August 2024 123,684 5,553 74,161 84,895 1,947 206,385 22,957 105,558 5,334 594,683 35,791 15,274) 224,068 {98,7781 1104,0521 12,114 526,422 129,237 74,161 86,842 NET BOOK VALUE At 31 Auaust 2024 497,602 5,847 55,918 15,576 574,943 At 31 August 2023 503,155 7,794 44,324 22,132 577,405 66

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 13. CREDITORS- AMOUNTS DUE FALLING WITHIN ONE YEAR 2024 2023 Group Bank loan Other loan Trade creditors Rent and service charges received in advance YMCA pension deficit agreement plan Deferred capital grant {note 161 Other taxation and social security Other creditors Accruals and deferred income 32,945 3,000 50,922 541 8,628 17,692 12,912 106,879 250,658 484,177 30,633 3,000 65,608 2,084 10,308 17,691 13,607 151,563 191,995 486,489 2024 2023 Charity Ban1< loan Other loan Trade creditors Rent and service charges received in advance YMCA pension deficit agreement plan Deferred capital grant (note 161 Other taxation and social security Other creditors Accruals and deferred income 32,945 3,000 50,922 541 8,628 17,692 12,912 16,611 186,627 329,878 30,633 3,000 65,608 2,084 10,308 17,691 13,607 76,848 165,212 384,991 Group accruals and deferred income includes the following deferred income.. 2024 2023 Group and Charitv National Lottery Find Your Voice BBC Children in Need UK Shared Prosperity Fund Essex Council for Voluntary Youth Services IECVYSI Sports England Police, Fire and Crime Commissioner Southend Borough Council young peoples homeless service Isupporting Peoplel Youth Music Southend Supports Breastfeeding My Future My Southend 43,941 16,322 27,921 53,492 4,150 13,685 4,320 9,097 11,571 2,504 4,886 23,142 12,465 7,485 15,000 123,241 126,740 68

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 14. CREDITORS- AMOUNTS DUE FALLING AFTER ONE YEAR 2024 2023 Group and Charity Bank loan Other loan YMCA pension deficit agreement plan Deferred capital grant (note 161 767,533 18,000 15,668 320,237 1,121,438 801,142 21,000 62,463 337,929 1,222,534 15. DEBT ANALYSIS Group 2024 Charitv 2024 2023 2023 Bank loans Other loans 800,478 21,000 821,478 831,775 24,000 855,775 800,478 21,000 821,478 831,775 24,000 855,775 Payable within one year Payable after one year 35,945 785,533 821,478 41,539 850,958 892,497 35,945 785,533 821,478 33,633 822,142 855,775 Amounts included above which fall due afterfive years, payable by instalments 635,753 678,609 635,753 678,609 Security One bank loan is secured by fixed charges on housing property known as 'Newlands' 85 Ambleside Drive, 5outhend on Sea and a debenture over Southend YMCA. This loan is repayable over 25 years from the date of drawdown being 27 November 2017 in monthly inst3lments at rates of interest ranging from the Breater of 2% pa over the Bank of England base rate or 2/0 pa. A second bank loan is also secured by fixed charges on housing property known as 'Newlands' 85 Ambleside Drive, Southend on Sea and a debenture over Southend YMCA. This loan is repayable over 10 years from the date of drawdown being l December 2021 in monthly instalments at a fixed rate of interest of 2.43/0 for the first 5 years and at rates of interest ranging from the greater of 20A pa over the Bank of England base rate or 2°A pa thereafter. 16. DEFERRED CAPITAL GRANT 2024 2023 Group and Charity At I September 2023 Grant received in the year Released to income in the year At 31 August 2024 355,620 373,312 {17,6911 337,929 {17,6921 355,620 69

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 17. LEASE COMMITMENTS Total future minimum lease payments under non-cancellable operating leases for each of the following periods is as follows.. 2024 2023 Group Within one year Between one and five years After 5 years 28,674 111,074 189,035 328,783 44,108 112,245 216,535 372,888 2024 2023 Charity Within one year Between one and five years After 5 years 28,258 111,074 189,035 328,367 40,828 111,833 216,535 369,196 70

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS YMCA Pension Plan The charity participated in a contributory pension plan providing def ined benef its based on f inal pensionable pay for employees of YMCAS in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of The Southend-on-sea Young Men's Christian Association and at the year end these were invested in the Mercer Dynamic De-risking Solution, 65OA matching portfolio and 35% in the growth portfolio and Schroder (property units onlvl. The most recent completed three year valuation was as at l May 2023. The assumptions used which have the most signif icant effect on the results of the valuation are those relating to the assumed rates of return on assets of 4.560A, the increase in pensions in payment of 3.180A Ifor RPI capped at 5% per annuml, and the life expectancy from normal retirement age {of 651 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.Im, which represented 92% of the benefits that had accrued to members. The Pension P5an 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 l May 2011. The valuation prepared as at l May 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. The charity has been advised that it will need to make monthly contributions of £861 from l May 2024. This amount is based on the current actuarial assumptions las 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 7'A12023: 3/}. The current recovery period is 3 years commencing 1st May 2024, Repayable Within One to Two to After More than one year two years five years five years one year Total 2024 Total 2023 As at 31 August 2024 8,628 9,232 6,436 15,668 24,296 As at 31 August 2023 10,308 10,992 37,405 14,066 62,463 72,771 Charity defined contribution scheme The charity also operates a defined contribution scheme, the assets of which are held separately from those of the charity. The charge for the period to the income and expenditure account in relation to this scheme is £15,06912023: £16,325). Contributions for employees were a minimum of 50/0 of salary and the employer contributions were 5Yo. 71

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) Other multi-employer defined-benefit schemes The employees of the South Essex Community School Limited belong to two principal pension schemes.. the Teachers, Pension Scheme for England and Wales ITPSI for academic and related staff,. and the Local Government Pension Scheme ILGPSI for non-teaching staff, which is managed by Essex County Council. Both are multi-employer defined-benefit schemes. The latest actuarial valuation of the TPS related to the period ended 31 March 2020 and of the LGPS 31 March 2022. Contributions amounting to £21,505 were payable to the schemes at 31 August 2024 (2023: £14,868) and are included withi n creditors. There were no outstanding or prepaid contributions at either the beginning or the end of the f inancial year. Teachers Pension Scheme Introduction The Teachers, Pension Scheme {TPSI is a statutory, contributory, defined benefit scheme, governed by the Teachers, Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in academies. All teachers have the option to opt-out of the TPS following enrolment. The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament. Valuation of the Teachers, Pension Scheme The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Capl Directions 2014 published by HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately and the review specifies the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation and subsequent consultation are., employer contribution rates set at 28.68% of pensionable pay {including a 0.08 % administration levyl. Th is is an increase of 50A in employer contributions and the cost control result is such that no change in member benefits is needed. total scheme liabilities {pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £262,000 million and notional assets {estimated future contributions together with the notional investments held at the valuation datel of £222,200 million, giving a notional past service deficit of £39,800 million. 72

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 IS. PENSION AND SIMILAR OBLIGATIONS (continued) A copy of the valuation report and supporting documentation is on the Teachers, Pension website. Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The academy is unable to identify its share of the underlying assets and liabilties of the plan. Accordingly, the academy has taken advantage of the exemption in FRS 102 and has accounted for its contributions to the scheme as if it were a defined contribution scheme. The academy has set out above the information available on the scheme. Local Government Pension Scheme The LGP5 is a funded defined benefit scheme, with assets held in separate trustee-administered funds. The total contribution for the year ended 31 August 2024 was £58,000 12023: £55,000), of which employer's contributions totalled £46,000 12023.. £43,000) and employees, contributions totalled £12,000 {2023.. £12,000). The agreed contribution rates for future years are 23.30A for employers and 5.50A to 12.50A for employees. The LGPS obligation relates to the employees of the academy, who were the employees transferred as part of the conversion from the maintained school and new employees who were eligible to, and did, join the scheme in the year. The obligation in respect of employees who transferred on conversion represents their cumulative service at both the predecessor school and the academy at the balance sheet date. Parliament has agreed, at the request of the Secretary of State for Education, to a guarantee that, in the event of academy closure, outstanding Local Government Pension Scheme liabilities would be met by the Department for Education. The guarantee came into force on 18 July 2013. The amounts recognised in the balance sheet are as follows.. Defined benefit pension plans 2023 2024 Present value of funded obligations Fair value of plan assets {493,0001 493,000 1389,0001 392,000 3,000 Deficit 3,000 The amounts recognised in the statement of financial activities are: Defined benefit pension plans 2023 2024 Current service cost Interest cost 35,000 {I,000} 34,000 52,000 3,000 55,000 73

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) Changes in the present value of the defined benefit obligation are as follows,, Defined benefit pension plans 2023 2024 Opening defined benef it obligation Current service cost I nterest cost Employee contributions Actuarial losses/lgainsl Benefits paid Closing defined benefit obligation 389,000 35,000 21,000 12,000 41,000 15,000) 493,000 345,000 52,000 15,000 12,000 130,0001 {5,0001 389,000 Changes in the fair value of the share of scheme assets: Defined benefit pension plans 2023 2024 Opening fair value of scheme assets Interest income Contributions by employer Employee contributions Actuarial gains/llossesl Benefits paid Closing fair value of scheme assets 392,000 22,000 46,000 12,000 26,000 {5,0001 493,000 263,000 12,000 43,000 12,000 67,000 (5,0001 392,000 Principal actuarial assumptions at the balance sheet date.. 2024 2023 CPI increases Future sala ry increases Future pension increases Discount rate 3.90% 2.80/ 5.10% 5.300 74

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 18. PENSION AND SIMILAR OBLIGATIONS (continued) The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are: At 31 August 2023 2024 Retiring today Males Females 20.7 23.3 20.7 23.2 Retiring i n 20 years Males Females 22.0 24.7 22,0 24.6 The group's share of the assets in the scheme was.. Fair value at 31 August 2024 2023 Equities Gilts Property Cash Alternative assets Other managed funds Total market value of assets 276,000 9,000 35,000 8,000 74,000 91,000 228,000 5,000 31,000 11,000 62,000 55,000 493,000 392,000 The actual return on scheme assets was £48,00012023: £79,000). 75

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS {continued) FOR THE YEAR ENDED 31 AUGUST 2024 19. FINANCIAL INSTRUMENTS The Group's financial instruments may be analysed as follows: 2024 2023 Flnancial assets: Financial assets that are debt instruments measure at amortised cost 1,544,912 1,251,387 Financial liabilities; Financial liabilities measured at amortised cost 992,732 1,088,637 Financial assets measured at amortised cost comprise cash at bank and in hand, trade debtors and other debtor5. Financial liabilities measured at amortised cost comprise trade creditors, taxation and social security, other creditors, housing and bank loans. 20. MOVEMENT IN RESTRICTED RESERVES Asatl September 2023 Movement in Asat31 the year August 2024 Cherry Family Trust National Lottery- Find Your Voice South Essex Community School: Commissioning Fund Pupil premium Local Authoritv Pension Restricted f ixed assets fu nds Total Restricted Reserves 13,802 113,8021 2,766 2,766 576,262 204,850 33,053 56,931 (3,0001 31,067 311,865 781,112 33,053 79,500 22,569 3,000 1,898,892 2,514,525 1,929,959 2,826,390 76

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 20. MOVEMENT IN RESTRICTED RESERVES {continued) Restricted Funds These funds represent the accumulated surpluses from funds available for a specific purpose: Cherry Family Trust Funds were received to pay for an upgrade to the CCTV system at Newlands property. The National Lottery Community Fund - Find Your Volce A project funded by the National Lottery Community Fund to help young people become more active within their community with additional funding to support the sustainability of youth work including Support for utility costs and investment into greening of the Newlands property as a cost saving measure, South Essex Community School: Restrlcted general funds These funds relate to the Academy's development and operational activities. Restricted pension funds These funds represent the LGPS obligation to the employees of the Academy Trust. Restricted fixed asset funds These funds relate to long term assets held by the Academy Trust and grants to purchase or maintain these assets. 21. CONTROL There is no ulti mate controlling party. 77

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 22. PARTICULARS OF SUBSIDIARY The charity 15 a member of South Essex Community School {Limited by Guarantee) and has the right to appoint or remove a majority of its board members. South Essex Community School (Limited by Guarantee) therefore falls within the definition of a subsidiary found in section 1159111{bl of the Companies Att 2006, The subsidiary's results as extracted from the statutory financial statements for the year ended 31 August 2024 are outlined below.. 2024 2023 I ncoming resources from charitable activities - Educational operations I ncoming resources from charitable activities Other income Resources expended 1,678,926 1,116,500 18,551 28,196 11,373,057) (1,043,298) 324,420 101,398 The aggregate of the assets, liabilities and reserves were: 2024 2023 Fixed Assets Current Assets Current Liabilities 1,929,959 1,059,554 (154,2991 2,835,214 1,898,892 710,400 198,4981 2,510,794 23. RECONCILIATION OF NET MOVEMENT IN RESERVES TO NET CASH FLOW FROM OPERATING ACTIVITES Group 2024 2023 Surplus/lDeficit) for the year Depreciation of housing properties Depreciation of other f ixed assets Impairment of tangible fixed assets Uplift in valuation of investment property Loss on sale of other fixed assets Interest payable Interest received Capital grant Decreaselllncreasel in debtors (Decrease} in creditors 460,910 20,033 95,792 1150,804) 19,971 97,917 65,921 158,384) 3,343 56,037 {12,2971 591 46,450 12,0701 10,721 (66,1111 67,064 (37,8501 Net cash generated from operating activities 510,044 107,190 78

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 24. ANALYSIS OF CHANGES IN NET DEBT Asatl September 2023 Other non- cash Asat31 Cash flows movements August 2024 Cash Loans due within one year Loans due after one year 1,197,879 (33,633} (822,142} 342,104 304,267 34,297 1,502,146 135,9451 1785,5331 680,668 (36,6091 36,609 338,564 25. RELATED PARTY TRANSACTIONS During the year, legal fees amounting to £2,754 {2023: £2,556) were incurred from Duncan Lewis (Solicitors) Ltd, a company in which D Bland is a director. D Bland is a trustee of the charitv. All transactions were conducted under normal market condition5. Southend YMCA is the parent entity in the group and ultimate controlling party, The group has taken advantage of the exemption available under Section 33 of FRS 102 not to disclose transactions with wholly owned subsidiary undertakings, South Essex Communit School Owing to the nature of the school's operation5 and the composition of the school's board of trustees being drawn from public local and private sector organisations, transactions may take place with organisations in which the academy trust has an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the school's financial regulations and normal procurement procedures. 79

SOUTHEND-ON-SEA YOUNG MEN'S CHRISTIAN ASSOCIATION (LIMITED BY GUARANTEE) AND SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 AUGUST 2024 26. MEMBERS The Board of trustees are the only members of the YMCA. The company is limited by guarantee, having no share capital and, in accordance with the Memorandum of Association; every member is liable to contribute a sum of £1 in the event of the company being wound up. 2024 2023 Number of members No At I September Joining during the year Leaving during the year At 31 August 131 121 80