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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 08156824 (England and Wales) REGISTERED CHARITY NUMBER: 1149008

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 20
Detailed Statement of Financial Activities 21 to 22

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021

TRUSTEES A Edwards
A J Hornsby - Chairman
Mrs J Parkinson
F J Perren
A C M Phillips - Treasurer
L A W Tallon-Morris
Mrs S M Warlow
Dr J L Withecomb
F T Roberts
J Berry BEM - President
COMPANY SECRETARY Mrs P J Fielding
REGISTERED OFFICE 25 John Street
Porthcawl
Bridgend
CF36 3AP
REGISTERED COMPANY 08156824 (England and Wales)
NUMBER
REGISTERED CHARITY 1149008
NUMBER
INDEPENDENT EXAMINER Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

Page 1

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted 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).

The Trustee Report includes the Report of the Directors' as required by company law.

OBJECTIVES AND ACTIVITIES Objectives and aims The Y.M.C.A, stands for:

(i) A world-wide fellowship based on the equal values of all persons.

(ii) Respect and freedom of all, tolerance and understanding between people of different opinions.

(iii) Active concern for the needs of the community.

(iv) United efforts by Christians of different traditions.

The Y.M.C.A aims to

Provide a welcome to members for themselves, in a meeting place which is theirs to share, where friendships can be made and counsel sought.

Develop activities which stimulate and challenge its members in an environment that enables them to take responsibility and find a sense of achievement.

Involve all members in care and work for others.

Create opportunities for exchanging views, so that its members can improve their understanding of the world, of themselves, of one another and of the unique relevance of the Christian Faith to their lives.

The charity has served the town of Porthcawl for over one hundred years as a social and ecumenical arm of the Christian Church. We seek to contribute to the life of the community of Porthcawl, primarily, but not exclusively, in terms of providing services for children and young people. Many activities we run ourselves, with a variety of paid and voluntary help, but we also make the building available to other organisations that want a town centre venue for one-off or regular activities.

Public benefit

The Trustees are aware that the Charity has a responsibility under the Charities Act to demonstrate that it has charitable aims that meet the public benefit requirement and are therefore charitable. The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit and comply with S17 Charities Act 2011 when considering, planning and implementing the activities of the charity. As Trustees, we believe that the aims of our organisation are charitable and for the public benefit. Furthermore, in our view, no detriment or harm arises from our Charity carrying out its work and we are not aware of any widespread views among others that such detriment or harm might arise.

Page 2

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

I think I can safely say that this has been a year like no other in the 112 year history of Porthcawl YMCA.

Towards the end of March 2020 the Covid-19 pandemic was spreading rapidly throughout the world and the UK government initiated lockdown measures. As a result, the YMCA was forced to close its doors, the only continuing activity being the local foodbank. All the staff apart from the Centre Manager were immediately furloughed (with the Centre Manager following in June).

In the autumn there was a gradual easing of lockdown restrictions and we were able to reopen our After School Club. The second lockdown just before Christmas stopped this again, but with Covid numbers in Wales falling gradually, we hope to be able to restart it once again soon after Easter.

Most of the other 30 or so different groups that normally use the building for a variety of purposes were forced to close throughout the pandemic. The ones that work with children are likely to be the first to return, whereas groups that tend to cater for an older clientele, such as those organised by the U3A, may well be slower to restart.

FINANCIAL REVIEW

Financial position

The Board of Directors are the financial trustees of the YMCA. The finance sub-committee prepares the annual budget for the Board's approval. The Board then monitors income and expenditure against that budget, aiming to ensure that income from activities in the building more or less matches day to day expenditure. The interest on our long-term loan and other overheads such as insurance are covered by the rent received from the ground floor shop, which changed hands during the year, with Sarah's Snakk's taking on a fifteen year lease.

When the YMCA was forced to close its doors because of the UK government's lockdown measures, our attention turned to applying for grants to cover our loss of income, and eventually grants totalling approximately £36,000 were obtained from Bridgend County Borough Council, our parent body the YMCA's of England and Wales, the Moondance Foundation and the Waterloo Foundation. Together with furlough payments which during the year totalled over £25,000, the YMCA somewhat ironically finds itself in better shape financially than at the start of the pandemic.

During 2020/21, total incoming resources were £91,093 (2019/20 £94,030) and total resources expended were £87,411 (2019/20 £103,598). Net assets were £496,792 (2019/20 £493,110) and net current assets £32,579 (2019/20 £19,317).

Current liabilities stand at £15,483 (2019/20 £10,888). Our only borrowing is a long-term commercial loan from Unity Trust Bank, which at the year end stood at £61,715, repayable over a flexible term of 10 to 15 years and at a current interest rate of just 4%.

We believe that the building is adequately insured against all likely risks.

Investment policy and objectives

The trustees have the power to invest in such assets as they see fit. Our long term assets were largely used during the major building project in 2012, but the £3,000 or so that remains is held in a deposit account with Barclays and in an investment account run by the Charities Aid Foundation (CAF), who offer a pooled facility for charitable deposit accounts.

Reserves policy

The trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The trustees consider this ideally should be not less than three months of running costs, i.e. around £25,000. During the year our free reserves were £Nil (2019/20 £Nil), as reserves have been set aside to cover future depreciation charges on the property, realistically, the trustees aim to retain approximately £25,000 in cash, which would be sufficient to cover any short term cashflow problems.

Page 3

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

EVENTS SINCE THE END OF MARCH 2021

All of the staff have now started back on a part-time basis, and we have cautiously reopened our After School Club and Holiday Club, although numbers to date are lower than pre-pandemic. It is almost impossible to predict how things will unfold over the next few months - the optimistic view is that there will be a gradual return to normality, while the pessimistic view is that there will be a further spike of Covid-19 and lockdown measures will have to be reintroduced. A second grant from the Moondance Foundation, of £7,000, received in March 2021, is intended to keep us going through our projected cash flow deficit during the first half of the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Porthcawl YMCA is a Company Limited by Guarantee with Charitable Status, registered in England & Wales.

Recruitment and appointment of new trustees

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Board of Trustees.

The trustees in office as at March 2021 are set out on page 1. All of these were trustees throughout the year. Trustees are elected for a period of three years, after which they are eligible for re-election.

We are always looking for anyone with relevant skills who might be prepared to serve the community of Porthcawl in this way.

Induction and training of new trustees

New Trustees must be interviewed and take part in an orientation session to brief them on their legal obligations under charity law, the committee and decision making processes, the Business Plan and recent financial performance of the charity. During the induction they meet key employees and other trustees.

INDEPENDENT EXAMINERS

A resolution to re appoint the independent examiners, Baker Knoyle Chartered Accountants, will be proposed at the Annual General Meeting.

This report has been prepared in accordance with the small company reporting regime S419(2) of the Companies Act 2006, and with the Charities SORP (FRS102) ' Accounting and Reporting by Charities'.

Approved by order of the board of trustees on 30 September 2021 and signed on its behalf by:

A J Hornsby - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

Independent examiner's report to the trustees of Porthcawl Young Men's Christian Association ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Richard Knoyle ACA Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL

30 September 2021

Page 5

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
37,589
Charitable activities
YCare
-
After School Club and Holiday Club
5,668
Youth Club
-
Room Hire
3,099
Coffee Bar Sales
-
Members Fees
97
Other trading activities
3
18,637
Investment income
4
20
Total
65,110
EXPENDITURE ON
Charitable activities
YMCA Activites
50,153
NET INCOME/(EXPENDITURE)
14,957
RECONCILIATION OF FUNDS
Total funds brought forward
40,151
TOTAL FUNDS CARRIED FORWARD
55,108		 Restricted
funds
£
25,983
-
-
-
-
-
-
-
-
25,983
37,258
(11,275)
452,959
441,684		 2021
Total
funds
£
63,572
-
5,668
-
3,099
-
97
18,637
20
91,093
87,411
3,682
493,110
496,792		 2020
Total
funds
£
7,008
135
34,817
1,799
30,078
4,695
153
15,214
131
94,030
103,598
(9,568)
502,678
493,110

The notes form part of these financial statements

Page 6

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

BALANCE SHEET

31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Stocks
11
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
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2021
£
520,623
-
13,040
35,022
48,062
(15,483)
32,579
553,202
(56,410)
496,792
55,108
441,684
496,792		 2020
£
533,916
132
19,533
10,540
30,205
(10,888)
19,317
553,233
(60,123)
493,110
40,151
452,959
493,110

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

BALANCE SHEET - continued 31 MARCH 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 September 2021 and were signed on its behalf by:

A J Hornsby - Trustee

A C M Phillips - Trustee

The notes form part of these financial statements

Page 8

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The following specific policies are applied:

Voluntary income

Income received by way of grants, gifts or donation is included in full on receipt unless it is subject to a condition when it is treated as deferred income.

Deferred income

Income or grants received in advance are held as deferred income and carried forward to future accounting periods to be released when the defined purposes of the work or project have been completed, approved or certified.

Gifts in kind

Gifts in kind are included in the income and expenditure account where they are applied in carrying out charitable activities, where the company would otherwise have to purchase the donated facility and the benefit is both quantifiable and material. The quantifiable benefit is shown as both incoming and expended resources within the appropriate funds. Where the gift is an asset it is treated as income and taken to stock or fixed assets as appropriate.

The value of services provided by volunteers is not quantified.

Investment income

Investment income is included when receivable.

Trading income

Trading income is recognised when earned.

Government Grant Income comprises specific project related direct support. Please refer to 'Incoming Resources' note, for am ounts.

Expenditure

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

Expenditure includes any VAT which cannot be fully recovered.

Costs of generating funds

Costs of generating funds include the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.

continued...

Page 9

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

Expenditure

Charitable expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes the costs that can be attributed directly to those activities and those costs of an indirect nature necessary to support them.

All expenditure

All expenditure is allocated between the categories of the SoFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned between categories on a basis that fairly reflects their usage.

Pension costs

Contributions are made to the employees own personal pension schemes. The pension cost charge represents those contributions payable to individual schemes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Plant and machinery - 25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Organisational status

The organisation is a company limited by guarantee and a registered charity. The directors are the trustees and they form a Board of Trustees which is the executive body of the charity. The aims and objectives and rules for governance are set out in the charitable company's Memorandum and Articles of Association.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist.

continued...

Page 10

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

2. DONATIONS AND LEGACIES

Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Bridgend County Borough Council
HMRC Furlough Grant
Waterloo Foundation
National Council of YMCA's Covid Emergency Fund
Moondance Foundation
Welsh Church Acts Fund
Bridgend CBC
3.
OTHER TRADING ACTIVITIES
Fundraising events
Rent Received
4.
INVESTMENT INCOME
Deposit account interest
5.
SUPPORT COSTS
YMCA Activites		 2021
2020
£
£
1,978
1,137
262
818
61,332
5,053
63,572
7,008
2021
2020
£
£
10,000
4,100
25,350
953
5,000
-
7,500
-
5,400
-
5,082
-
3,000
-
61,332
5,053
2021
2020
£
£
-
1,547
18,637
13,667
18,637
15,214
2021
2020
£
£
20
131
Governance
costs
£
12,538

continued...

Page 11

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

5. SUPPORT COSTS - continued

Accountancy Fees include:
Fees payable to the charity's Independent examiners for the independent
examination of the charity's financial statements
Support costs, included in the above, are as follows:
Wages
Accountancy fees
Legal fees
6.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 2021 2020
£ £
900 1,111
2021
YMCA
Activites
£
9,856
900
1,782
12,538
2021
£
13,293		 2020
Total
activities
£
-
1,111
1,821
2,932
2020
£
12,877

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

8. STAFF COSTS

STAFF COSTS
Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:		 2021
£
49,059
878
49,937		 2020
£
63,023
991
64,014
2021 2020
YMCA activities 6 9

No employees received emoluments in excess of £60,000.

Included in the above is employers national insurance contributions amounting to £Nil (2020: £Nil).

continued...

Page 12

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

8. STAFF COSTS - continued

The key management of the charity comprises the Directors/Trustees. The total benefits of the the key management personnel of the charity was £Nil.

Pension Costs

The Charity contributes to employee's government work place pension scheme. The pension cost charge represents contributions paid by the Charity to the individual schemes.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
7,008
Charitable activities
YCare
135
After School Club and Holiday Club
34,817
Youth Club
1,799
Room Hire
30,078
Coffee Bar Sales
4,695
Members Fees
153
Other trading activities
15,214
Investment income
131
Total
94,030
EXPENDITURE ON
Charitable activities
YMCA Activites
103,598
NET INCOME/(EXPENDITURE)
(9,568)
Transfers between funds
19,859
Net movement in funds
10,291
RECONCILIATION OF FUNDS
Total funds brought forward
29,860
TOTAL FUNDS CARRIED FORWARD
40,151		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
(19,859)
(19,859)
472,818
452,959		 Total
funds
£
7,008
135
34,817
1,799
30,078
4,695
153
15,214
131
94,030
103,598
(9,568)
-
(9,568)
502,678
493,110

continued...

Page 13

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

10. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1 April 2020 and 31 March 2021
638,346
DEPRECIATION
At 1 April 2020
105,412
Charge for year
12,767
At 31 March 2021
118,179
NET BOOK VALUE
At 31 March 2021
520,167
At 31 March 2020
532,934
11.
STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Social security and other taxes
VAT
Pension creditor
Accruals and deferred income
Accrued expenses		 Plant and
machinery
£
15,389
14,407
526
14,933
456
982
2021
£
-
2021
£
13,040
-
13,040
2021
£
5,305
283
1,869
177
7,000
849
15,483		 Plant and
machinery
£
15,389
14,407
526
14,933
456
982
2021
£
-
2021
£
13,040
-
13,040
2021
£
5,305
283
1,869
177
7,000
849
15,483		 Totals
£
653,735		 Totals
£
653,735		 Totals
£
653,735
119,819
13,293
133,112
520,623
533,916
2020
£
132
2020
£
14,754
4,779		 2020
£
132
19,533
2020
£
4,935
404
3,777
372
-
1,400
10,888

Deferred Income

Deferred income represents income received from contributing agencies where the contribution was restricted to a fixed time period project which extends beyond the current financial year. Income is deferred on the basis that the contribution was to the project as a whole, the time period of the project was fully disclosed to the contributing agencies and that time period is certain.

continued...

Page 14

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The deferred income carried forward is analysed as follows:
Opening balance
Movement in the year
Deferred income carried forward
Deferred income analysed by project:
Restricted - Moondance Foundation
14.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 15)
15.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
16.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year		 2021 2020
£ £
- -
7,000 -
7,000 -
2021 2020
£ £
7,000 -
2021
£
56,410
2021
£
5,305
21,222
35,188
2021
£
691		 2020
£
60,123
2020
£
4,935
17,050
43,073
2020
£
691

Page 15

continued...

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

17. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£ £
Bank loans 61,715 65,058

The bank loan is secured on the freehold property.

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted 2021 2020
funds funds Total funds Total funds
£ £ £ £
Fixed assets 78,939 441,684 520,623 533,916
Current assets 41,062 7,000 48,062 30,204
Current liabilities (8,483) (7,000) (15,483) (10,888)
Long term liabilities (56,410) - (56,410) (60,122)
55,108 441,684 496,792 493,110

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated Property
Restricted funds
Restricted Property Fund
Miscellaneous Fixed Assets
TOTAL FUNDS		 At 1/4/20
£
(40,806)
80,957
40,151
451,977
982
452,959
493,110		 Net
movement
in funds
£
16,974
(2,017)
14,957
(10,749)
(526)
(11,275)
3,682		 At
31/3/21
£
(23,832)
78,940
55,108
441,228
456
441,684
496,792

Page 16

continued...

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Property
Restricted funds
Restricted Property Fund
Miscellaneous Fixed Assets
Waterloo Foundation
National Council of YMCA's Covid
Emergency Fund
Moondance Foundation
Bridgend CBC
Welsh Church Acts Fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Designated Property
Restricted funds
Restricted Property Fund
Miscellaneous Fixed Assets
TOTAL FUNDS		 At 1/4/19
£
29,860
-
29,860
472,818
-
472,818
502,678		 Incoming
resources
£
65,110
-
65,110
1
-
5,000
7,500
5,400
3,000
5,082
25,983
91,093
Net
movement
in funds
£
(9,568)
-
(9,568)
-
-
-
(9,568)		 Resources
Movement
expended
in funds
£
£
(48,136)
16,974
(2,017)
(2,017)
(50,153)
14,957
(10,750)
(10,749)
(526)
(526)
(5,000)
-
(7,500)
-
(5,400)
-
(3,000)
-
(5,082)
-
(37,258)
(11,275)
(87,411)
3,682
Transfers
between
At
funds
31/3/20
£
£
(61,098)
(40,806)
80,957
80,957
19,859
40,151
(20,841)
451,977
982
982
(19,859)
452,959
-
493,110

continued...

Page 17

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
94,030
TOTAL FUNDS
94,030
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1/4/19
in funds
£
£
Unrestricted funds
General fund
29,860
7,406
Designated Property
-
(2,017)
29,860
5,389
Restricted funds
Restricted Property Fund
472,818
(10,749)
Miscellaneous Fixed Assets
-
(526)
472,818
(11,275)
TOTAL FUNDS
502,678
(5,886)		 Resources
Movement
expended
in funds
£
£
(103,598)
(9,568)
(103,598)
(9,568)
Transfers
between
At
funds
31/3/21
£
£
(61,098)
(23,832)
80,957
78,940
19,859
55,108
(20,841)
441,228
982
456
(19,859)
441,684
-
496,792

continued...

Page 18

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 159,140 (151,734) 7,406
Designated Property - (2,017) (2,017)
159,140 (153,751) 5,389
Restricted funds
Restricted Property Fund 1 (10,750) (10,749)
Miscellaneous Fixed Assets - (526) (526)
Waterloo Foundation 5,000 (5,000) -
National Council of YMCA's Covid
Emergency Fund 7,500 (7,500) -
Moondance Foundation 5,400 (5,400) -
Bridgend CBC 3,000 (3,000) -
Welsh Church Acts Fund 5,082 (5,082) -
25,983 (37,258) (11,275)
TOTAL FUNDS 185,123 (191,009) (5,886)

Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects.

The free reserves are available to provide funds to cashflow projects funded on a retrospective basis and are available with the approval of the trustees to fund any expenditure on projects or expenses which fall within the organisations general aims and objectives. They are accumulated in accordance with the reserve policy as stated in the trustees report.

Analysis of Designated Funds

Analysis of Designated Funds
2020
£
Unamortised fixed assets 80,957
Designated funds 80,957

Designated funds represents the amounts set aside to write down the remaining net book value of fixed assets held against unrestricted funds.

Restricted funds

Restricted funds represent balances held to fund future projects where the resources have been received and are required by the donors to fund a specific project.

Activities undertaken within each major restricted fund

The restricted funds of the charity have been applied during the year or are held for future expenditure in the following area:

Restricted Property Fund

This fund represents the net book value of land and buildings funded by specific restricted grants.

continued...

Page 19

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

19. MOVEMENT IN FUNDS - continued

Waterloo Foundation

This was funding to support the organisations running costs during covid.

YMCA Emergency Fund

This was funding to support the wages of the centre manger.

Moondance Foundation

This was funding to support the wages of the centre manger.

Bridgend CBC

This was funding to support the wages of the centre childcare team.

Rhondda Cynon Taff County Borough Council (RCTCBC)

This was funding towards the installation of UPVC windows.

20. RELATED PARTY DISCLOSURES

During the year, the charity received £870 rental income from Gilgal Baptist Church together with £1,155 rental income and a £500 donation from Bridgend Foodbank, of which Mr John Hornsby is a Trustee of both.

21. GIFTS IN KIND

Volunteer Time

The value of volunteer time is not quantified in terms of money but the time contributed by volunteers is an invaluable resource in terms of the outstanding contribution made by them.

The number of hours contributed by volunteers in the year was Nil (2020: 904).

Page 20

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Other trading activities
Fundraising events
Rent Received
Investment income
Deposit account interest
Charitable activities
YMCA Charitable Activities
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Insurance
Premises costs
Stationery & Telephone
YCare
Coffee Bar expenses
After School Club and Holiday Club
Youth Club expenses
Affiliation Fees
Sundry expenses
Advertising
Equipment Leasing
Depreciation
Loan interest
Bank Charges
Support costs
Governance costs
Wages
Carried forward		 2021
£
1,978
262
61,332
63,572
-
18,637
18,637
20
8,864
91,093
39,203
878
2,295
12,999
1,115
200
132
193
-
460
974
50
460
13,293
2,549
72
74,873
9,856
9,856		 2020
£
1,137
818
5,053
7,008
1,547
13,667
15,214
131
71,677
94,030
63,023
991
2,190
11,711
1,959
-
2,428
1,752
23
489
588
120
388
12,877
2,055
72
100,666
-
-

This page does not form part of the statutory financial statements

Page 21

PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Governance costs
Brought forward
Accountancy fees
Legal fees
Total resources expended
Net income/(expenditure)		 2021
£
9,856
900
1,782
12,538
87,411
3,682		 2020
£
-
1,111
1,821
2,932
103,598
(9,568)

This page does not form part of the statutory financial statements

Page 22