2025-03-31-accounts

Company number: 05460005 Charity number: 1110087

MAIDSTONE YMCA

(A company limited by guarantee)

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

MAIDSTONE YMCA

CONTENTS

	Page
Reference and administrative details	1
Trustees’ report	2-8
Independent auditor’s report	9-12
Statement of financial activities	13
Balance sheet	14
Statement of cash flows	15
Notes to the financial statements	16-30

MAIDSTONE YMCA

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name	Maidstone YMCA
Charity number	1110087 (England and Wales)
Company number	05460005 (England and Wales)
Principal and registered office Sports and Community		Centre
	Melrose Close
	Maidstone
	Kent ME15 6BD
Trustees	V A Wallis MBE (President and Company Secretary)
	B W P Price (Chair)
	S J Fraser-Mackintosh (Vice Chair)
	M Dewsbury
	I Newbury
	N Harvey
	S Martin (appointed 25	September 2024)
	D J Mortimer (resigned	2 May 2024)
Key management	A J Bantock (Chief Executive Officer)
Independent auditor	Lindeyer Francis Ferguson Limited
	North House
	198 High Street
	Tonbridge
	Kent TN9 1BE
Bankers	Lloyds Bank Plc	Close Brothers
	18 Week Street	10 Crown Place
	Maidstone	London
	Kent ME14 1RW	EC2A 4FT
Solicitors	Gullands
	16 Mill Street
	Maidstone
	Kent ME15 6XT
Investment advisors	Rathbone Investment Management Limited
	Port of Liverpool Building
	Pier Head
	Liverpool
	L3 1NW

1

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees (who are also the directors of the company for the purposes of company law) present their report together with the audited financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and in accordance with the governing document, current statutory requirements and the provisions of "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019) - (Charities SORP).

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The objectives of Maidstone YMCA arise from its acceptance of its founding Christian principle, The Paris Basis of 1855 incorporated into the National Statement of the Aims and Purposes of the YMCA in England as it may be amended from time to time.

The Charity is part of the Worldwide YMCA, a Christian Movement which seeks to unite those who, regarding Jesus Christ as their God and Saviour according to the Holy Scriptures, desire to be his disciples in their faith and their life, and to associate their efforts for the extension of his kingdom. Any difference of opinion on any other matter shall not interfere with the harmonious relations of the YMCA Movement.

The Charity welcomes, serves and works with persons of all religious faiths and of none.

Accordingly, the Objects of the Charity are:

• to promote a Christian environment inspired and motivated by the life, example and teaching of Jesus Christ, where people of faith and people of no faith can work together for the transformation of communities;

• to enable people of all ages and in particular young people, to flourish through experiencing and responding to the love of God demonstrated by the life, example and teaching of Jesus Christ;

• to provide or assist in the provision in the interests of social welfare of facilities for recreation and other leisure time occupation for men and women with the object of improving their conditions of life;

• to provide or assist in the provision of education for people of all ages and in particular young people, with the object of developing their physical, mental or spiritual capacities;

• 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.

2

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

The mission of Maidstone YMCA is to enable people to develop their full potential in mind, body and spirit. Inspired by, and faithful to our Christian values, we create supportive, inclusive and engaging communities where people of all ages can truly belong, contribute and thrive. The Charity's activities in the period under review were operating two community centres one in Loose and one in Tovil, serving the Borough of Maidstone. The centres provide for approximately 1000 members and many non-members to take part in a range of sporting, educational and leisure activities forming strong and creative community hubs in which to develop the supportive aims of the charity.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

Maidstone YMCA remains financially strong, and experienced in the provision of community services with diversity and inclusion at its heart, including for the disabled, with special attention to the needs of young people and their families. Budgets and policies are intended to protect the financial strength of the Charity, which empowers our strength in these sectors.

Maidstone YMCA shares the Christian ethics and values of the national YMCA movement and will participate in national policies and standards. The operating policies of the Charity are set by the Board incorporating high standards of Governance and Stewardship.

It continues to be Board policy to coordinate the management and promotion of the two locations, in Loose and Tovil. Building on our strengths in succeeding with the Loose and Tovil sites, we are open to opportunity to extend the activities of Maidstone YMCA to other parts of the Borough, although there is no intention to acquire the freehold of further sites, preferably to lease/hire/occupy suitable premises so limiting financial exposure, working in partnership with other organisations to achieve common ambitions and ensure viability.

Management and staff are encouraged to engage and participate in achieving our objectives, through the reporting on and review of key performance indictors: to monitor and promote membership, activities, and revenues, to optimise the use of assets such as room use/space/reserves and human resources; to control costs, and to encourage staff development and achievement.

c. Volunteers and Apprentices

The Board consists entirely of volunteers, and working directly with the professional staff to assist with the growth of the business, to discharge its charitable aims and provide guidance on any high level operational issues. We are greatly indebted to these volunteers for their commitment and support.

We also look to recruit apprentices to learn and gain employment experience, and to assist in productive roles in the Charity working directly with professional staff. Some may stay on in permanent positions and others will move on to use their experience elsewhere.

3

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

STRATEGIC REPORT

Achievements and performance

a. Main achievements of the charity

2024-25 was expected to be a year of further progress in continuing our efforts to revive our activities and reduce our losses, to serve more members, and to offer a valuable service to neighbouring communities. In fact, we achieved much better results than expected, returning a small surplus on ordinary activities of £2,772. Furthermore, we have made a promising start in financial year 20252026, growing membership, in further developing the business and in assessing new income streams.

The Trustees plan the evolution of the activities of the Charity, to ensure we have a robust business plan for the future, but also to see an increase in the charitable and outreach activities which have been so inhibited by the lack of grant funding for our charitable activities in the recent times.

b. Review of activities and financial review

This financial year we budgeted to further recover from the impact of the Covid pandemic and our strategy has been to tightly control costs, knowing that membership numbers were down in line with industry trends. In summary, we recorded total income of £1,385,289 up 16.6% on the previous year. With total expenditure of £1,382,517 we recorded a surplus on ordinary activities of £2,772 (2023/2024 deficit £1,079) which was considerably better than budgeted. The net movement in funds after the increase of £3,260 in the provision for the pension fund deficit and net gains of £1,115 on our investments, amounted to an increase in total funds of £627 compared to an increase of £61,247 in the previous year.

We generated a positive cash flow from operating activities of £93,972 which contributed considerably to our expenditure on fixed assets during the year of £53,078.

Considerable efforts continue to be made to arrange more events and activities as a means of attracting footfall to the Loose centre, and in promoting our facilities in general.

The two Preschools, at Loose and Tovil, continue to be cornerstones of our business, with every effort made to keep attendances at maximum levels, but the margin between income and costs has been shrinking as income per child has not kept pace with the increase in salary costs driven by the increases in the minimum wage in recent years. Nevertheless, we remain committed to the provision of Preschool in both Loose and Tovil and see an opportunity to extend business in ‘Early Years’ provision.

Overall, we had a very successful year, performing much better than we dared budget, affording the £168,885 growth in salaries through business growth and in managing other costs, to achieving a near break-even situation. The Board wish to express their gratitude to staff and management for this achievement.

c. Fundraising activities and income generation

The charity uses internal fundraisers only to generate income and these are closely monitored by the charity. Fundraisers comply with the charity's Code of Conduct policy and the Fundraising Regulators

4

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Code of Practice. The charity has received no complaints regarding its fundraisers or fundraising activities.

GOING CONCERN

Although income continues to grow, we have experienced inflationary pressures on costs and the increase in the minimum wage from April 2025.

The Trustees have performed a robust analysis of forecast cash flows and have taken into account the potential impact on the business of inflationary pressures and of local competition and market changes. Based on these assessments, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the ‘going concern’ basis in preparing the annual report and accounts.

Reserves policy

The Trustees now consider that they should maintain the Charity’s free reserves at a level of approximately 3 months average expenditure of about £300k. This policy is reviewed annually.

At the year end, the Charity held total funds of £4,752,250 (2024: £4,751,623) of which unrestricted funds were £4,654,480 (2024: £4,656,294). The charity’s free reserves (general funds less the net book value of fixed assets) at the year-end amounted to £511,942 (2024: £459,372). These funds will be used to further the Charity’s objectives.

Designated funds were £3,756,998 (2024: £3,810,663) of which the full amount (2024: £3,801,881) represents the net book value of freehold land and buildings less amounts funded by restricted capital grants as these funds can only be realised by disposing of the Charity’s tangible fixed assets.

Restricted funds were £97,770 (2024: £95,329) and represent the element of the Tovil Community Centre building which was part funded by various grants from other external organisations, along with £5,770 of unexpended grants received in the year.

Our pricing policy

Our pricing policy reflects our strategy of enabling the community to access the activities we provide consistent with the need for the Charity’s financial stability. Wherever possible we work with outside agencies and organisations to resource funding for those with limited means to access our programmes.

Investment policy

Investment policy is reviewed regularly according to market conditions. Our £250,000 investment in Rathbones Greenbank Strategic Growth Portfolio, a sum which we did not foresee a need to draw on in the next few years, have not performed very well and in November 2023 we liquidated approximately half of the portfolio investment and placed the proceeds of £110,000 into a short-term deposit account. Other funds are held in bank accounts on short-term deposits

The ’Early Years’ investment plan is at an advanced stage: plans for the Day Nursey have been drawn up and will be submitted for planning approval, at which time we will obtain build costs with which to assess the viability of the project which will call heavily on reserves and a supporting financial loan.

5

MAIDSTONE YMCA TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Financial risk management objectives and policies

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks which are:

• Substantial reduction in membership – Membership is reviewed monthly against budget and programmes are varied, moved or replaced if necessary. Appropriate advertising is arranged to ensure areas of the business are promoted.

• Interruption to the Centre facilities availability – Covered by property insurance and loss of earnings cover.

• Fraud – This is mitigated as far as possible by the assignment of duties and authorisation rights set at appropriate levels. All expenditure is monitored by the Trustees who meet 10 times a year. The Trustees are confident that there is no knowledge of any actual or suspected fraud affecting the Charity during the year and that there are no events or conditions that may cast significant doubt on the Charity’s ability to continue as a Going Concern.

• Loss of Key Management Personnel including Trustees – succession planning, and regular staff reviews are in place. The current position of the Trustees is healthy with six in regular attendance at Board meetings, although the Trustees continue to search for new Trustees.

• • Early Years/Day Nursery is a major challenge and will require most careful consideration before committing to the Build.

Plans for future periods

It is the intention of the Trustees to continue to develop and expand the services they offer from the community centres at Loose and Tovil.

Another Away Day Strategic Review is planned for the 25[th] July 2025 at which Trustees and key Management will be discussing and reassessing risks and opportunities to develop the business over coming years.

Structure, governance and management

a. Constitution

The Charity was incorporated as a company limited by guarantee by its Memorandum and Articles of Association dated 23 May 2005. It was registered with the Charity Commission with effect from 17 June 2005 under the charity number 1110087.

The Memorandum and Articles of Association were replaced by new Articles of Association adopted by the members at the AGM on 27 September 2018.

The members of the company are the Trustees named on page 1, each of whom have agreed to contribute £1 in the event of the company being wound up.

6

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

b. Methods of appointment of Trustees

New Trustees are appointed by the Board of Management. All new Trustees are provided with guidance obtained from the Charity Commission regarding their position. We will continue the search for new members to the Board and training is available.

c. Organisational structure and decision-making policies

The day-to-day management is under the control of the Chief Executive and senior team and is closely monitored by the Board of Management/Trustees.

d. Pay policy for key management personnel

Pay rates are reviewed annually by the Board considering increases in average earnings and the local market rates. The directors who are the Charity's Trustees, give their time freely and hence no director received any remuneration during the year.

e. Related party relationships

Any relationship the Trustees have with any organisation or person involved with the Charity must be fully disclosed to the Board of Management.

Maidstone YMCA is affiliated to the national organisation YMCA England and Wales. This is a Federation membership in which we maintain our status as an independent local charity and share the national identity of the YMCA brand.

f. Charity governance

Maidstone YMCA complies with trusted charity status as stipulated by YMCA England and Wales.

Statement of trustees’ responsibilities

The trustees (who are also the directors of the company for the purposes of company law), are responsible for preparing the Trustees’ Report and Financial Statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare accounts for each financial year. Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure account, of the charity for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and

7

MAIDSTONE YMCA

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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

Statement of disclosure to auditors

In accordance with company law, the trustees certify that:

• so far as each person who was a trustee at the date of approving this report is aware, there is no relevant audit information of which the company’s auditors are unaware; and

• the trustees individually have taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant audit information and to establish that the company’s auditors are aware of that information.

Auditors

The auditors, Lindeyer Francis Ferguson Ltd, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime in Part 15 of the Companies Act 2006.

Approved by the Board of Trustees on 25 September 2025 and signed on its behalf by:

B W P Price Chair

8

MAIDSTONE YMCA

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Maidstone YMCA (“the charitable company”) for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

9

MAIDSTONE YMCA

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees’ report, which includes the directors’ report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within 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 the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and

10

MAIDSTONE YMCA

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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 charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the legal and regulatory framework applying to the charitable company and the procedures that management adopt to ensure compliance, and have considered the extent to which non-compliance might have a material effect on the financial statements, and in particular we identified: the Companies Act 2006, the Charities Act 2011 and Charities SORP FRS102.

We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures within the financial statements, but for which compliance is fundamental to the charity’s operations and to avoid material penalties, including Employment law, Health and Safety Law, General Data Protection Regulation, Food Hygiene, and regulations relating to safeguarding children with the key legislature being the Children and Social Work Act 2017.

Having reviewed the laws and regulations applicable to the charity, we designed and performed audit procedures to obtain sufficient appropriate audit evidence. Specifically, we:

• Assigned an engagement team to the audit with particular familiarity in dealing with charity and not-for-profit organisations;

• Obtained an understanding of the charity’s procedures for ensuring compliance with laws and regulations;

• Obtained and reviewed internal policy and procedure documents;

• Made enquiries of management and the trustees regarding whether they were aware of any actual or suspected incidences of non-compliance with laws and regulations;

• Obtained and reviewed meeting minutes;

• Reviewed legal expenses accounts for indications of any possible non-compliance; and

11

MAIDSTONE YMCA

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

• Reviewed the completeness and accuracy of any disclosures made in the financial statements.

We assessed the susceptibility of the charity’s financial statements to material misstatement, including considering how fraud might occur. This was performed by:

• Making an assessment of the charity’s control environment, systems and controls including identifying any weaknesses and considering the risk of management override of controls;

• Considering whether there are any incentives or opportunities for management to manipulate financial results;

• Obtaining and evaluating the trustees’ assessment of the risk of fraud, and enquiring as to whether they are aware of any actual or suspected incidences of fraud; and

• Reviewing the accounting policies and accounting estimates for signs of management bias.

• • Identifying key risks relating to irregularities as relating to revenue recognition, management override of controls and the pension provision.

We then designed audit procedures in response to the risks identified, including performing substantive testing on all material income streams, reviewing journal entries and accounting estimates in relation to management override and reviewing the assumptions included in the pension provision for reasonableness.

The audit has been planned and performed in such a way as to best identify risks of material misstatement, however the inherent limitations of audit procedures means that there remains a risk that material misstatements may not be identified. In particular we are aware of the inherent difficulties in detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities that result from error, due for example, to override of controls, collusion or misrepresentations. In addition, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Use of our report

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

	Lindeyer Francis Ferguson Limited
Jonathan Healey FCA	Statutory Auditors
Senior Statutory Auditor	North House
	198 High Street
	Tonbridge
Date: 2 October 2025	Kent, TN91BE

12

MAIDSTONE YMCA

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note Income from: Donations, grants and legacies 4 Charitable activities 5 Other trading activities Investments Total Expenditure on: Charitable activities 6 Net income / (expenditure) 7 Transfers between funds 15 Other recognised gains: (Increase)/decrease in provision for pension fund deficit 14 Net gains on investments 11 Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 15	2025 £ 6,339 1,342,942 3,976 16,015 1,369,272 1,368,941 331 - ( 3,260) 1,115 ( 1,814) 4,656,294 4,654,480 Unrestricted funds	2025 Restricted funds £ 16,017 - - - 16,017 13,576 2,441 - - - 2,441 95,329 97,770	2025 Total funds £ 22,356 1,342,942 3,976 16,015 1,385,289 1,382,517 2,772 - ( 3,260) 1,115 627 4,751,623 4,752,250	2024 Total funds £ 13,697 1,161,548 2,202 10,749
				1,188,196
				1,189,275
				( 1,079)
				- 54,040 8,286
				61,247
				4,690,376
				4,751,623

13

MAIDSTONE YMCA

BALANCE SHEET AS AT 31 MARCH 2025

Note Fixed assets Intangible assets 9 Tangible assets 10 Investments 11 Current assets Short term cash deposits Stocks Debtors 12 Cash at bank and in hand Creditors:amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors:amounts falling due after more than one year 14 Total net assets The funds of the charity: Restricted funds Unrestricted funds 15	2025 £ 345,623 3,019 38,458 191,982 579,082 ( 75,786)	2025 £ 1,963 4,140,575 125,627 4,268,165 503,296 4,771,461 ( 19,211) 4,752,250 97,770 4,654,480 4,752,250	2024 £ 330,000 2,630 52,113 150,073 534,816 ( 69,727)	2024 £ 3,085 4,193,837 125,135
				4,322,057 465,089
				4,787,146 ( 35,523)
				4,751,623
				95,329 4,656,294
				4,751,623

The financial statements were approved by the Board of Trustees on 25 September 2025 and were signed on its behalf by:

B W P Price Chair

S J Fraser-Mackintosh Vice Chair

Company number: 05460005

14

MAIDSTONE YMCA

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note Cash flows from operating activities: Net cash from operating activities A Cash flows from investing activities: Interest received Proceeds on sale of investments Purchase of tangible fixed assets Purchase of intangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Being Cash at bank and in hand Short term cash deposits Cash balances on investments 11 A. Reconciliation of net expenditure to net cash flow from operating activities Net movement in funds for the year Depreciation charges Amortisation charges Loss on disposal of fixed assets Net gains on investments Interest received (Increase)/decrease in stocks ` Decrease/(increase) in debtors Decrease in creditors Net cash from operating activities	2025 £ 93,972 16,015 - ( 53,078) - ( 37,063) 56,909 480,827 537,736 191,982 345,623 131 537,736 627 100,978 1,122 5,362 ( 1,115) ( 16,015) ( 389) 13,655 ( 10,253) 93,972	2024 £ 36,543 10,749 111,742 ( 76,453) ( 3,365)
		42,673 79,216 401,611
		480,827
		150,073 330,000 754
		480,827
		61,247 99,380 280 2,761 ( 8,286) ( 10,749) 222 ( 9,489) ( 98,823)
		36,543

15

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

MAIDSTONE YMCA

1 ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Maidstone YMCA meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling and rounded to the nearest pound.

Going concern

Although income continues to grow, there are inflationary pressures on costs and an increase in the minimum wage from April 2025.

The Trustees have performed a robust analysis of forecast cash flows and have taken into account the potential impact on the business of inflationary pressures and of local competition and market changes. Based on these assessments, the Trustees have concluded that there is no material uncertainty and that they can continue to adopt the ‘going concern’ basis in preparing the annual report and accounts.

Income

Income from donations, grants and legacies is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable.

Income from charitable activities is recognised in the period in which it is receivable and to the extent that goods have been provided or services completed. Income received in advance is taken to deferred income in creditors.

16

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

MAIDSTONE YMCA

1 ACCOUNTING POLICIES continued

Income continued

Income from other trading activities is recognised in the period in which it is receivable.

Investment income is recognised when receivable and the amount can be measured reliably.

Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs are allocated to the charitable activity to which they relate. Direct costs and support costs which are not easily attributable to a particular activity are apportioned on the basis of the split of income.

Expenditure on charitable activities is expenditure incurred on directly undertaking the activities which further the charity's objects, as well as any associated support costs.

Irrecoverable VAT is charged as an expense in the Statement of Financial Activities.

Fund accounting

Unrestricted funds can be used in accordance with the charity's charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds which have been set aside by the trustees for particular purposes.

Restricted funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Intangible fixed assets and amortisation

The charity's website is accounted for as an intangible fixed asset. It is recognised initially at cost and subsequently as cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Website

Straight line over 10 years

17

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

MAIDSTONE YMCA

1 ACCOUNTING POLICIES continued

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Freehold land Not provided Freehold buildings 50 years straight line Plant and equipment 10 to 20 years straight line Fixtures and fittings 10 years straight line or reducing balance Office equipment 5 years straight line Computer equipment and software 3 to 10 years straight line

Assets costing less than £500 are not capitalised but are recognised as expenditure in the Statement of Financial Activities in the year incurred.

Investments

Listed investments are stated at market value. Gains and losses arising on the revaluation of investments are taken to the Statement of Financial Activities.

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Financial instruments

The charity only has financial instruments of a kind that qualify as basic financial instruments. Short term basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

18

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

MAIDSTONE YMCA

1 ACCOUNTING POLICIES continued

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period to which the entitlement relates.

Maidstone YMCA 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 Maidstone YMCA.

As described in Note 18, from 1 May 2024 Maidstone YMCA has a contractual obligation to make annual pension deficit payments of £19,428 (2024: £22,114) over the period to April 2027. This is a reduction on previous years due to the improved performance of the YMCA Pension Plan which has also led to a reduced repayment period from April 2029 to April 2027. This is shown as a liability in these financial statements. In addition, Maidstone YMCA is required to contribute £6,193 each year towards the operating expenses of the pension plan and these costs are charged to the Statement of Financial Activities.

2 VOLUNTEERS

The charity relies on unpaid volunteers for support. The value of the volunteers' time is not included in the Statement of Financial Activities incorporating Income and Expenditure account.

3 STATUS

Maidstone YMCA is a charitable company limited by guarantee incorporated in England and Wales. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is Sports and Community Centre, Melrose Close, Maidstone, Kent ME15 6BD.

4 INCOME FROM DONATIONS, GRANTS AND LEGACIES

Grants from trusts and foundations In the preceding period, income of £13,697 was restricted.	2025 £ 22,356 22,356	2024 £ 13,697
		13,697

19

MAIDSTONE YMCA

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

5 INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Sports and community centres Pre-school income	2025 £ 986,333 356,609 1,342,942	2024 £ 885,707 275,841
		1,161,548

In the preceding period, income of £2,857 was restricted.

6 EXPENDITURE ON CHARITABLE ACTIVITIES

Sports and community centres Pre-school Direct costs comprise: Staff costs Other staff costs Depreciation Amortisation Loss on disposal of fixed assets Direct activity costs Advertising and marketing Legal and professional costs Premises costs Insurance and licences Office and other costs Irrecoverable VAT	2025 Direct costs £ 787,546 406,070 1,193,616	2025 Support costs £ 138,740 50,161 188,901	2025 Total £ 926,286 456,231 1,382,517 2025 £ 735,762 5,911 100,978 1,122 5,362 79,703 4,572 5,930 127,843 30,938 56,146 39,349 1,193,616	2024 Total £ 814,239 375,036
				1,189,275
				2024 £ 557,526 9,505 99,380 280 2,761 86,743 5,881 5,651 125,746 28,419 44,954 35,077
				1,001,923

20

MAIDSTONE YMCA

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

6 EXPENDITURE ON CHARITABLE ACTIVITIES CONTINUED

Support costs comprise: Staff costs Investment management fees Office and other costs Governance costs: Audit fees Other	2025 £ 175,720 755 2,986 8,340 1,100 188,901	2024 £ 167,840 1,208 9,304 7,900 1,100
		187,352

In the preceding period, £12,227 of expenditure came from restricted funds.

7 NET INCOME / (EXPENDITURE)

Net income / (expenditure) is stated after charging: Depreciation and amortisation Auditor's remuneration for audit services Auditor's remuneration for non-audit services STAFF COSTS Gross salaries Employer's National Insurance contributions Employer's pension contributions Coaching costs	2025 £ 102,100 8,340 1,100 2025 £ 809,592 33,814 11,119 56,957 911,482	2024 £ 99,660 7,900 1,100
		2024 £ 653,753 24,346 7,541 39,726
		725,366

8 STAFF COSTS

There were no employees with employment benefits (excluding employer pension contributions) of more than £60,000 in the current nor preceding period.

The average number of employees on a headcount basis during the year was 68 (2024: 67).

21

MAIDSTONE YMCA

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

9 INTANGIBLE FIXED ASSETS

INTANGIBLE FIXED ASSETS
Cost At 1 April 2024 At 31 March 2025 Amortisation At 1 April 2024 Charged for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Website £ 3,365
	3,365
	280 1,122
	1,402
	1,963
	3,085

22

MAIDSTONE YMCA

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

10 TANGIBLE FIXED ASSETS Freehold property £ Cost At 1 April 2024 4,630,737 Additions 11,409 Disposals - At 31 March 2025 4,642,146 Depreciation At 1 April 2024 734,556 Charged for the year 58,592 Eliminated on disposal - At 31 March 2025 793,148 Net book value At 31 March 2025 3,848,998 At 31 March 2024 3,896,181	Plant & equipment £ 455,593 11,148 ( 21,432) 445,309 275,952 23,274 ( 20,710) 278,516 166,793 179,641	Fixtures & fittings £ 291,449 3,668 ( 18,575) 276,542 177,582 15,465 ( 13,935) 179,112 97,430 113,867	Office equipment £ 58,547 26,853 ( 16,470) 68,930 54,399 3,647 ( 16,470) 41,576 27,354 4,148	Total £ 5,436,326 53,078 ( 56,477)
				5,432,927
				1,242,489 100,978 ( 51,115)
				1,292,352
				4,140,575
				4,193,837

Freehold property includes land valued at £1,733,238 (2024: £1,733,238) which is not depreciated.

11 INVESTMENTS Market value At 1 April 2024 Disposals Unrealised gains on investments Movements in cash balances At 31 March 2025	124,381 - 1,115 - 125,496 Listed investments	Cash held 754 - - ( 623) 131	2025 £ Total 125,135 - 1,115 ( 623) 125,627	2024 £ Total 228,045 ( 112,961) 9,504 547
				125,135

23

MAIDSTONE YMCA

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

12 DEBTORS

12	DEBTORS
			2025	2024
			£	£
	Trade debtors		2,749	5,625
	Prepayments and accrued income		31,800	37,589
	Other debtors		3,909	8,899
			38,458	52,113
13	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			2025	2024
			£	£
	Trade creditors		14,180	14,750
	Accruals and deferred income		32,266	29,246
	Payments received on account for performance-related grants		6,035	-
	Pension liability	(see notes 14 and 18)	18,592	18,673
	Other creditors		4,713	7,058
			75,786	69,727
	The movement on deferred income, which relates to subscriptions and grants, is as follows:
			2025	2024
			£	£
	Balance at 1 April 2024		18,996	13,019
	Released to income		( 18,996)	( 13,019)
	Received in the year and deferred		23,026	18,996
	Balance at 31 March 2025		23,026	18,996

24

MAIDSTONE YMCA

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

14 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Pension liability (see note 18) Pension liability At 1 April 2024 Payments made Increase/(reduction) in provision At 31 March 2025 Due within one year Due in more than one year	2025 £ 19,211 19,211 54,196 ( 19,653) 3,260 37,803 18,592 19,211	2024 £ 35,523
		35,523
		130,296 ( 22,060) ( 54,040)
		54,196
		18,673 35,523

25

MAIDSTONE YMCA

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

15 MOVEMENT ON FUNDS

CURRENT YEAR Restricted funds: Tovil Community Centre Community Resilience Fund Breastfeeding initiative Winter Community Support Royal British Legion Tovil Parish Council Other Unrestricted funds Designated funds: Freehold land and buildings Bequest General fund Total funds	Brought forward £ 94,300 - 29 1,000 - - - 95,329 3,801,881 8,782 845,631 4,656,294 4,751,623	Income £ - 5,000 - - 5,000 5,817 200 16,017 - - 1,369,272 1,369,272 1,385,289	Expenditure, gains and losses £ ( 2,300) ( 3,240) ( 29) ( 1,000) ( 3,460) ( 3,347) ( 200) ( 13,576) ( 56,292) - ( 1,314,794) ( 1,371,086) ( 1,384,662)	Transfers £ - - - - - - - - 11,409 ( 8,782) ( 2,627) - -	Carried forward £ 92,000 1,760 - - 1,540 2,470 -
					97,770 3,756,998 - 897,482
					4,654,480
					4,752,250

26

MAIDSTONE YMCA

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

15 MOVEMENT ON FUNDS CONTINUED

PRIOR YEAR Restricted funds Tovil Community Centre Maidstone Borough Council Breastfeeding initiative Winter Community Support Holiday Activities and Food 3G Pitch lighting River Rotary Maidstone Lions Other Unrestricted funds Designated funds: Freehold land and buildings Bequest General fund Total funds	Brought forward £ 96,600 2,950 - - - - - - - 99,550 3,832,046 8,782 749,998 4,590,826 4,690,376	Income £ £ - ( 2,300) - ( 2,950) 1,000 ( 971) 1,000 - 2,857 ( 2,857) 8,548 - 300 ( 300) 735 ( 735) 2,114 ( 2,114) 16,554 ( 12,227) - ( 55,350) - - 1,171,642 ( 1,059,372) 1,171,642 ( 1,114,722) 1,188,196 ( 1,126,949) Expenditure, gains and losses	Transfers £ - - - - - ( 8,548) - - - ( 8,548) 25,185 - ( 16,637) 8,548 -	Carried forward £ 94,300 - 29 1,000 - - - - -
				95,329 3,801,881 8,782 845,631
				4,656,294
				4,751,623

Tovil Community Centre property

This fund represents the balance of grants received from various external organisations to assist with the costs of construction of the new Community Centre in Tovil. The annual depreciation charge on the proportion of the building funded by these grants is charged as an expense against this fund.

27

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

MAIDSTONE YMCA

15 MOVEMENT ON FUNDS CONTINUED

Community Resilience Fund

In May 2024, following a successful grant application, Maidstone Borough Council awarded Maidstone YMCA £5,000 to support Young Carers in Maidstone and the surrounding areas. The money was used to hold two festivals for children aged 11 to 18 years, where young carers came together to enjoy team activities, sports, a pamper room with photo booth, have lunch and refreshments, and to get to know each other. The Young Carers enjoyed being children again, and they shared experiences to support their mental health.

Breastfeeding Initiative

A grant was received last year from KCC towards a baby friendly breast feeding initiative. This was used to set up breastfeeding areas, including the purchase of chairs, tables and activities to occupy older siblings.

Winter Community Support

The funding was awarded last year to help with supporting our veterans based at the Royal British Legion Industries in Aylesford. Maidstone YMCA have, and continue to, provide a range of activities including football and lunch/refreshments to the veterans.

Royal British Legion

A grant was provided from RigLift to support RBLI Veterans with their physical health. All Veterans living in RBLI temporary accommodation have been street homeless and suffer with PTSD. Maidstone YMCA have provided activity days such as six a-side football and also host regular activities like pickleball, darts, badminton and table tennis. Veterans can also stay for dinner or just enjoy coffees and snacks.

Tovil Parish Council

Tovil Parish Council (TPC) have provided a grant to support a Senior's Social Club and Youth Basketball for the local community in the area of Tovil. During the year Maidstone YMCA launched the Seniors Club at the Tovil Centre which was similar to the highly successful and established club in Loose. The new Basketball Club will start in June 2025.

Designated funds - Freehold land and buildings

The designated funds represent the net book value of freehold land and buildings less amounts funded by restricted capital grants. The fund can only be realised by way of disposing of the charity's tangible assets.

Designated funds - Bequest

This designated fund was for a bequest received from J. Sturge which was designated to be used to deliver activities for local children in the Tovil Centre. During the year the Trustees agreed that the acoustic clouds and panels installed in the hall at Tovil will benefit the children in the Tovil Pre-School and that they wished to now treat all the funds as being expended and transfer back to the General Fund the sum of £8,782.

28

MAIDSTONE YMCA

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

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

CURRENT YEAR Fixed assets Net current assets Creditors due in more than one year PRIOR YEAR Fixed assets Net current assets Creditors due in more than one year	£ 4,176,165 497,526 ( 19,211) 4,654,480 4,227,757 464,060 ( 35,523) 4,656,294 Unrestricted funds	Restricted funds £ 92,000 5,770 - 97,770 94,300 1,029 - 95,329	Total funds £ 4,268,165 503,296 ( 19,211)
			4,752,250
			4,322,057 465,089 ( 35,523)
			4,751,623

17 RELATED PARTY TRANSACTIONS

The key management personnel are considered to be the trustees and the Chief Executive Officer.

There were no Trustees' remuneration or other benefits during the current or prior period. During the year there were no expenses reimbursed (2024: one trustee reimbursed £71 for travel costs).

The total amount of employee benefits (including employer's pension contributions) received by key management personnel during the year was £31,750 (2024: £29,760).

18 PENSION COMMITMENTS

Maidstone YMCA participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of Maidstone YMCA and at the year end these were invested in the Mercer Dynamic De-risking Solution, 65% matching portfolio and 35% in the growth portfolio and Schroder (property units only).

The most recent completed three year valuation was as at 1 May 2023. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets of 4.56%, the increase in pensions in payment of 3.18% (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 21.5 years, female 24.0 years, and 23.1 years for a male pensioner, female 25.7 years, retiring in 20 years’ time. The result of the valuation showed that the actuarial value of the assets was £103.1m, which represented 92% of the benefits that had accrued to members.

29

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

MAIDSTONE YMCA

18 PENSION COMMITMENTS CONTINUED

The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits all employed deferred members became deferred members as from 1 May 2011.

The valuation prepared as at 1 May 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. Maidstone YMCA has been advised that it will need to make monthly contributions of £1,619 from 1 May 2025. This amount is based on the current actuarial assumptions (as outlined above) and may vary in the future as a result of actual performance of the Pension Plan. Agreed future deficit contributions have been discounted using a rate of 4.50% (2024: 5.25%). The current recovery period is 3 years commencing 1 May 2024.

19 CAPITAL COMMITMENTS

At 31 March 2025 the charity had capital commitments of £37,353 (2024: £nil).

30