**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 2023**
## **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 2023**
|||**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|19|
|**Detailed Statement of Financial Activities**|20|to|21|
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023**
|**TRUSTEES**|A Edwards (resigned 31.3.23)|
|---|---|
||A J Hornsby - Treasurer|
||Mrs J Parkinson|
||F J Perren - Chair|
||A C M Phillips|
||L A W Tallon-Morris|
||Dr J L Withecomb|
||F T Roberts|
||C H Nicholas|
|**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 2023**
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 2023. 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 2023**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The level of activity in the YMCA building has broadly returned back to pre Covid levels. During the year seventeen different local organisations have used the building to hold a wide range of events and activities and this resulted in a footfall of several thousand people.
The After School Club has averaged around 75 child days/week and the Holiday Club averaging just over 40 child days/week despite cancellations for a range of reasons.
The Junior Youth Club has met throughout the year with around 30 attending each evening. The Senior Youth Club started midway through the year with 10 being the average.
The Food Bank has continued to operate throughout the year using the building on two mornings per week when a representative of Citizens Advice has also been in attendance.
The AGM was held on the evening of Tuesday 11th October during which Board members Les Tallon-Morris, Janice Parkinson, Dr Julie Withecomb and Jeff Perren stood down and were re-elected for a further period of 3 years.
## **FINANCIAL REVIEW**
## **Financial position**
The Board of Management are the financial trustees of the YMCA. The Treasurer prepares the annual budget for the Board's approval. The Board then monitors income and expenditure against the 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 adjacent ground floor cafe.
The total income for 2022/23 was £74,186 (£83,679 in 2021/22). Whilst there was a modest increase in income from the After School Club and other clubs, grants only amounted to £1,814 compared to £15,083 in 2021/22. The total expenditure for 2022/23 was £97,081 (£89,693 in 2021/22), with the main increase being wages and salaries (£57,200 in 2022/23 compared to £52,753 in 2021/22). This has resulted in a decrease in the total balances at the end of the year. Net assets were £467,883 (£490,778 in 2021/22) and net current assets (current assets less current liabilities) were £18,381 (£34,070 in 2021/22).
Our only borrowing is a long-term commercial loan from Unity Trust Bank, which at the year end stood at £50,958 (£56,204 at March 2022), repayable by August 2030 at an interest rate of 3% above the Bank of England base rate.
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. The current assets are in accounts with Barclays bank, Unity Trust Bank and The Charities Aid Foundation (CAF).
## **Reserves policy**
The trustees have examined the requirements for free reserves which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The trustees consider that this should be not less than three months of running costs, i.e. between £20,000 and £25,000. During the year our free reserves were £Nil (2021/22 £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 cash flow problems.
## **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.
Page 3
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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 31st March 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 out for anyone with relevant skills and are 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 of their legal obligations under charity law, the committee and decision making processes, the Business Plan and the recent financial performance of the charity. During the induction they meet key employees and 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 14 September 2023 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 2023.
## **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
14 September 2023
Page 5
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
3,075
**Charitable activities**
After School Club and Holiday Club
21,568
Youth Club
1,154
Members Fees
108
Cafe sales
2,540
Photocopier income
16
Other trading activities
3
43,858
Investment income
4
52
**Total**
72,371
**EXPENDITURE ON**
**Charitable activities**
YMCA Activites
84,612
**NET INCOME/(EXPENDITURE)**
(12,241)
**Transfers between funds**
19
96
**Net movement in funds**
(12,145)
**RECONCILIATION OF FUNDS**
Total funds brought forward
60,300
**TOTAL FUNDS CARRIED FORWARD**
48,155|Restricted
funds
£
1,815
-
-
-
-
-
-
-
1,815
12,469
(10,654)
(96)
(10,750)
430,478
419,728|2023
Total
funds
£
4,890
21,568
1,154
108
2,540
16
43,858
52
74,186
97,081
(22,895)
-
(22,895)
490,778
467,883|2022
Total
funds
£
15,951
20,419
493
97
1,798
11
44,910
-
83,679
89,693
(6,014)
-
(6,014)
496,792
490,778|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **BALANCE SHEET**
## **31 MARCH 2023**
|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**|2023
£
494,633
360
1,650
26,657
28,667
(10,286)
18,381
513,014
(45,131)
467,883
48,155
419,728
467,883|2022
£
507,400
410
8,989
35,247
44,646
(10,576)
34,070
541,470
(50,692)
490,778
60,300
430,478
490,778|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 7
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **BALANCE SHEET - continued 31 MARCH 2023**
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 14 September 2023 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 2023**
## **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 2023**
## **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 2023**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Bridgend County Borough Council
HMRC JRS Grant
Moondance Foundation
**3.**
**OTHER TRADING ACTIVITIES**
Fundraising events
Rent Received
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**SUPPORT COSTS**
YMCA Activites|2023
2022
£
£
2,095
868
981
-
1,814
15,083
4,890
15,951
2023
2022
£
£
1,814
2,688
-
5,395
-
7,000
1,814
15,083
2023
2022
£
£
4,133
2,767
39,725
42,143
43,858
44,910
2023
2022
£
£
52
-
Governance
costs
£
21,070|
|---|---|
continued...
Page 11
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **5. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **6.**
|**SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:|||
|---|---|---|
||2023|2022|
||YMCA|Total|
||Activites|activities|
||£|£|
|Wages|20,020|15,314|
|Accountancy fees and Independent|||
|Examination|980|900|
|Legal & Professional fees|70|-|
||21,070|16,214|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||2023|2022|
||£|£|
|Depreciation - owned assets|12,767|13,223|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **8. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Other pension costs|2023
£
57,200
274
57,474|2022
£
52,753
964|
|||53,717|
The average monthly number of employees during the year was as follows:
||2023|2022|
|---|---|---|
|YMCA activities|7|6|
No employees received emoluments in excess of £60,000.
Included in the above is employers national insurance contributions amounting to £Nil (2022: £Nil).
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.
continued...
Page 12
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
|**9.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
6,263
**Charitable activities**
After School Club and Holiday Club
20,419
Youth Club
493
Members Fees
97
Cafe sales
1,798
Photocopier income
11
Other trading activities
44,910
**Total**
73,991
**EXPENDITURE ON**
**Charitable activities**
YMCA Activites
68,799
**NET INCOME/(EXPENDITURE)**
5,192
**RECONCILIATION OF FUNDS**
Total funds brought forward
55,108
**TOTAL FUNDS CARRIED FORWARD**
60,300
**10.**
**TANGIBLE FIXED ASSETS**
Freehold
property
£
**COST**
At 1 April 2022 and 31 March 2023
638,346
**DEPRECIATION**
At 1 April 2022
130,946
Charge for year
12,767
At 31 March 2023
143,713
**NET BOOK VALUE**
At 31 March 2023
494,633
At 31 March 2022
507,400|Restricted
funds
£
9,688
-
-
-
-
-
-
9,688
20,894
(11,206)
441,684
430,478
Plant and
machinery
£
15,389
15,389
-
15,389
-
-|Total
funds
£
15,951
20,419
493
97
1,798
11
44,910
83,679
89,693
(6,014)
496,792
490,778
Totals
£
653,735
146,335
12,767
159,102
494,633
507,400|
|---|---|---|
continued...
Page 13
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
|**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
Other Creditors
Accrued expenses
**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||
|---|---|
continued...
Page 14
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **16. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
**SECURED DEBTS**
The following secured debts are included within creditors:
Bank loans
The bank loan is secured on the freehold property.|2023
£
576
2023
£
50,958|2022
£
576
2022
£
56,204|
|---|---|---|
## **17. SECURED DEBTS**
## **18. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||Unrestricted|Restricted|2023|2022|
|---|---|---|---|---|
||funds|funds|Total funds|Total funds|
||£|£|£|£|
|Fixed assets|74,906|419,728|494,634|507,400|
|Current assets|28,967|-|28,967|44,646|
|Current liabilities|(10,586)|-|(10,586)|(10,576)|
|Long term liabilities|(45,132)|-|(45,132)|(50,692)|
||||||
||48,155|419,728|467,883|490,778|
||||||
## **19. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated Property
**Restricted funds**
Restricted Property Fund
Summer of Fun (BCBC)
**TOTAL FUNDS**|At 1/4/22
£
(16,623)
76,923
60,300
430,478
-
430,478
490,778|Net
movement
in funds
£
(10,224)
(2,017)
(12,241)
(10,750)
96
(10,654)
(22,895)|Transfers
between
funds
£
96
-
96
-
(96)
(96)
-|At
31/3/23
£
(26,751)
74,906
48,155
419,728
-
419,728
467,883|
|---|---|---|---|---|
Page 15
continued...
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **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
Summer of Fun (BCBC)
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Designated Property
**Restricted funds**
Restricted Property Fund
Miscellaneous Fixed Assets
**TOTAL FUNDS**|Incoming
resources
£
72,371
-
72,371
-
1,815
1,815
74,186
At 1/4/21
£
(23,832)
78,940
55,108
441,228
456
441,684
496,792|Resources
Movement
expended
in funds
£
£
(82,595)
(10,224)
(2,017)
(2,017)
(84,612)
(12,241)
(10,750)
(10,750)
(1,719)
96
(12,469)
(10,654)
(97,081)
(22,895)
Net
movement
At
in funds
31/3/22
£
£
7,209
(16,623)
(2,017)
76,923
5,192
60,300
(10,750)
430,478
(456)
-
(11,206)
430,478
(6,014)
490,778|
|---|---|---|
Page 16
continued...
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **19. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|73,991|(66,782)|7,209|
|Designated Property|-|(2,017)|(2,017)|
||73,991|(68,799)|5,192|
|**Restricted funds**||||
|Restricted Property Fund|-|(10,750)|(10,750)|
|Miscellaneous Fixed Assets|-|(456)|(456)|
|Moondance Foundation|7,000|(7,000)|-|
|Bridgend CBC (ASC Grant) Fund|2,000|(2,000)|-|
|Summer of Fun (BCBC)|688|(688)|-|
||9,688|(20,894)|(11,206)|
|**TOTAL FUNDS**|83,679|(89,693)|(6,014)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Designated Property
**Restricted funds**
Restricted Property Fund
Miscellaneous Fixed Assets
Summer of Fun (BCBC)
**TOTAL FUNDS**|At 1/4/21
£
(23,832)
78,940
55,108
441,228
456
-
441,684
496,792|Net
movement
in funds
£
(3,015)
(4,034)
(7,049)
(21,500)
(456)
96
(21,860)
(28,909)|Transfers
between
funds
£
96
-
96
-
-
(96)
(96)
-|At
31/3/23
£
(26,751)
74,906
48,155
419,728
-
-
419,728
467,883|
|---|---|---|---|---|
continued...
Page 17
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **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|146,362|(149,377)|(3,015)|
|Designated Property|-|(4,034)|(4,034)|
||146,362|(153,411)|(7,049)|
|**Restricted funds**||||
|Restricted Property Fund|-|(21,500)|(21,500)|
|Miscellaneous Fixed Assets|-|(456)|(456)|
|Moondance Foundation|7,000|(7,000)|-|
|Bridgend CBC (ASC Grant) Fund|2,000|(2,000)|-|
|Summer of Fun (BCBC)|2,503|(2,407)|96|
||11,503|(33,363)|(21,860)|
|**TOTAL FUNDS**|157,865|(186,774)|(28,909)|
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**|||
|---|---|---|
||2023|2022|
||£|£|
|Unamortised fixed assets|74,906|76,922|
||||
|Designated funds|74,906|76,922|
||||
||||
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.
## **Moondance Foundation**
This was funding to support the wages of the centre manger.
continued...
Page 18
**PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **19. MOVEMENT IN FUNDS - continued**
## **Bridgend CBC**
This was funding to support the wages of the centre childcare team.
## **Summer of Fun (Bridgend CBC)**
To support fun play, leisure, recreational, sporting and cultural activities for children and young people.
## **20. RELATED PARTY DISCLOSURES**
During the year, the charity received £4,140 (2022: £2,050) rental income from Gilgal Baptist Church and Bridgend Foodbank. 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 785 (2022: 409).
Page 19
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
||2023|2022|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|2,095|868|
|Gift aid|981|-|
|Grants|1,814|15,083|
||4,890|15,951|
|**Other trading activities**|||
|Fundraising events|4,133|2,767|
|Rent Received|39,725|42,143|
||43,858|44,910|
|**Investment income**|||
|Deposit account interest|52|-|
|**Charitable activities**|||
|YMCA Charitable Activities|25,386|22,818|
|**Total incoming resources**|74,186|83,679|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|37,180|37,439|
|Pensions|274|964|
|Insurance|1,933|3,993|
|Premises costs|14,294|10,994|
|Stationery & Telephone|192|173|
|Coffee Bar expenses|2,611|1,610|
|After School Club and Holiday Club|1,793|1,279|
|Affiliation Fees|493|528|
|Sundry expenses|1,022|235|
|Advertising|-|50|
|Equipment Leasing|576|576|
|Depreciation|12,767|13,223|
|Loan interest|2,804|2,343|
|Bank Charges|72|72|
||76,011|73,479|
|**Support costs**|||
|**Governance costs**|||
|Wages|20,020|15,314|
|Accountancy fees and Independent Examination|980|900|
|Carried forward|21,000|16,214|
This page does not form part of the statutory financial statements
Page 20
## **PORTHCAWL YOUNG MEN'S CHRISTIAN ASSOCIATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
||2023|2022|
|---|---|---|
||£|£|
|**Governance costs**|||
|Brought forward|21,000|16,214|
|Legal & Professional fees|70|-|
||21,070|16,214|
|Total resources expended|97,081|89,693|
|**Net expenditure**|(22,895)|(6,014)|
This page does not form part of the statutory financial statements
Page 21