OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REGISTERED COMPANY NUMBER: 08634510 (England and Wales) REGISTERED CHARITY NUMBER: 1154553

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR SWANSEA YMCA

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA79LA

SWANSEA YMCA

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Reference and Administrative Details
Repor of the Trustees 2
to7
Repor of the Independent Auditors 8
to10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15
to28
Detailed Statement of Financial Activities 29
to30

SWANSEA YMCA

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES

REGISTERED OFFICE

Mrs S L Owens (Chair) PR Treseder Mrs D Lane Ms E F Gilroy RWilliams 1 The Kingsway Swansea SA1 5JQ

REGISTERED COMPANY NUMBER

08634510 (England and Wales)

REGISTERED CHARITY NUMBER

AUDITORS

1154553 Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA79LA

Page 1

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

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 202 3 . 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).

Recruitment and appointment of new trustees:

As set out in the Articles of Association, all trustees and designated officers including the Chair is appointed at the AGM. All members are circulated with invitations to nominate Trustees prior to the AGM. Full lists of those nominated are circulated to members prior to the AGM date for consideration.

Attention of members is drawn to the need to have a balance of representation and diversity including: gender, age, ethnicity, disability, sexuality and geography. The Trustee Board meets no less than four times in each financial year.

Functions of the Board include:

framework of the sector and in line with the organisation's governing document, continually striving for best practice in governance.

-Interviewing, appointing and monitoring the work and activities of senior paid staff.

The Trustee Board members are required to sign a Code of Conduct Declaration and Register of Interest.

Induction and training of new Trustees:

New Trustees receive an induction pack containing the following:

A Skills and Knowledge Audit, along with an EDI survey, is sent out as part of the selection process.

Organisational structure

The Board of Trustees administers the Charity. The Board meets monthly and there are sub-committees that report to the Board on a task and finish basis. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the Charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the Board, for operational matters including finance, employment and performance related activities within the core services.

The Trustee Board has oversight of financial matters through reports to each of the Trustee Board meetings and the Trustee Board may amend these powers from time to time. There are approximately 9 full time staff and 19 part time staff.

Related parties

We would like to thank all of our partners that have worked with us in the past year to help us deliver our services and develop new approaches to meeting the needs of young people and the wider community.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustee Board has conducted a review of the major risks to which the organisation has been exposed. A risk register has been established and will be updated annually with an appropriate action plan. When necessary, systems and procedures have been established to mitigate the risks the charity faces. Controls are in place to minimise internal risks by the implementation of procedures for authorisation of all transactions and projects. Health & Safety reviews are carried out regularly.

Page2

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

OBJECTIVES AND ACTIVITIES Objectives and aims

Swansea YMCA was established in 1868. It became a company limited by guarantee on 1st August 2013 and adopted a new articles of association. It is governed by a Board of volunteer Trustees, employs 44 people, and has a regular volunteer base.

We are part of a Federation of over 80 YMCAs in England & Wales, which in tum is part of an international movement with 64 million members worldwide.

Swansea YMCA (trading as YMCA Swansea) is an independent charity, affiliated to YMCA England and Wales. It is responsible for local services and fundraising. All monies raised are spent locally in Swansea and the surrounding area to support local children, young people and communities in need.

YMCA Vision:

'Transforming communities, so that young people can belong, contribute and thrive'

Swansea YMCA aims to tackle poverty, improve health and well being, promote equality & diversity and improve the quality of life for children, young people & communities in Swansea and surrounding areas.

The core YMCA service areas are:

Our Ethos:

YMCA Swansea supports up to 1500 vulnerable young people and adults per annum across all of our services. Our main beneficiaries are disadvantaged and vulnerable children and young people, adults and communities due to poverty, ill health &discrimination.

Our Social Businesses are:

-Fitness @ Swansea YMCA

Our Teams:

The Core Business Offerings:

-Education, Skills & Training.

Each year our Trustees review our activities to ensure they continue to reflect our aims. In carrying out this review the Trustees have considered the Charity Commission's general guidance on public benefit.

YMCA work is guided by our core values as follows:

Page 3

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Quality

We have clearly defined services that reflect our overall vision and strategic purpose developed in consultation with service users.

Equality

We are committed to equality & diversity and ensuring services are accessible and inclusive.

Participation

We ensure that young people are involved in the design and delivery of services and that they are involved in the decision-making processes at all levels.

Responsive

Holistic services which reflect individual needs.

Accountable

Effective and accountable governance, which reflects the ethos of the YMCA.

Strategic Aims

Management & Governance • The management and governance of the YMCA will create value by being efficient. effective and accountable .

Human Resources - YMCA staff will have the skills to enable our objectives to be met within a framework that ensures they are supported , appraised, valued and developed.

Finance & Funding - The YMCA will generate sufficient income to meet its objectives and have appropriate systems to ensure resources ar e managed efficiently and accountably.

Physical Resources - The YMCA will have the physical resources required to meet its objectives.

Communication - The YMCA will effectively communicate both internally and externally with stakeholders.

Youth Work - The YMCA promotes opportunities for children and young people to gain the knowledge, skills and experience to reach their full potential. Children's rights are at the heart of our service.

Health Wellbeing & Fitness - The YMCA will provide services and support to enable children, young people and adults to lead healthy lives and tackle health inequalities.

Arts - The YMCA will provide arts services and support to enable children, young people and adults gain access to arts and music to learn new skills, improve their lives and promote the creative industries.

Equality & Diversity - The YMCA promotes equal rights & diversity in communities across Wales.

Volunteers - Volunteers are a valued and important resource for the YMCA and are core to the delivery of our services.

Page4

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRATEGIC REPORT Achievement and performance People:

People are at the 'heart' of what we do, and are involved in planning, developing and evaluating our services to ensure that they are relevant, meet need and are fit for purpose. We work in partnership to improve the quality of life for people across Swansea Bay.

We deliver a wide range of services and provide a supportive environment that cares for the most vulnerable and disadvantaged members of our community.

YMCA Swansea has a long standing track record of successful community engagement offering diverse, accessible services and has a dynamic entrepreneurial approach & commitment to social justice.

YMCA Projects & Services:

YMCA Swansea has extensive experience of delivering services supporting the most vulnerable children, young people and adults in our communities to become active citizens and gain the skills to live safe, fulfilled, independent lives.

Youth Work, Community Development & Employment Support Key Programmes

Our programmes work holistically, along with any 1 :1 support as required.

Young Carers

Supporting young carers aged 8-18years in Swansea via a range of funded projects and in association with a number of partners- including events, activities, educational support, PSE delivery, awareness raising and empowerment. It is led by the Young Carers forum who also feed into local authority decision making.

LGBTQ+ Provision

Our funded LGBTQ+ provIsIon includes Good Vibes. It supports LGBTQ+ young people in the Swansea and surrounding area (and others as required) who are aged 11-24 years. As well as The club night, wellness and drop in sessions and activities, it also offers peer led Transgender awareness and support.

YHUB

YHUB (Supporting NEET young people aged 11-25 years old). The open access youth club and outreach facilitates access to soft employment skills, further training and wider engagement opportunities.

Employability

Youth Upskilling, mentoring & building the confidence of NEET young people, providing paid Programme work placements, helping unemployed young people to move closer to employment.

Y-Training

Training Centre specialising in Youth & Participation, Health & Well-Being, PSE & Y Training Employability

Y-Talent

Y Talent is our music/arts programme for vulnerable children & young people which supports participation in music & the creative industries

Y-Futures

Y Futures is a funded environmental project that facilitates youth solutions to the current climate emergency. Focussing on local rural wards, the project seeks to establish practical work at a local level.

Peer Action Collective

Working as part of a UK wide initiative, YMCA Swansea contributed to the Welsh element (which was led by a third sector partner).

Page 5

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

YMCA Health & Well-Being:

Our Health & Well Being Programme works with 1,500 people per annum to improve fitness, well-being, mental & physical health, nutrition, aid recovery from illness & injury and support people with disabilities.

Services Include:

Y Training

Y Training is a Recognised Agored Cymru Centre and offers a targeted community training portfolio which includes delivery of national YMCA signature programmes that are tailored to create engagement in education, training, volunteering and employment opportunities.

YMCA Community Hub provides city centre office space in Swansea to:

YMCA Swansea Tenants

Financial review

During the year the company raised income principally from service level agreements, donations and grants, office and room hire and membership of our fitness facility.

The trustees are proud to report that, against a backdrop of increasingly limited funding resources and economic pressures, the Charity has returned a surplus of income this year of £2,804 despite suffering an impairment in value of its' freehold property amounting to £74,895.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Swansea YMCA registered as a Company Limited by Guarantee on 1st August 2013. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £10.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Swansea YMCA for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 6

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES· continued

In so far as the trustees are aware:

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 21 December 2023

Mrs SL Owens - Trustee

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SWANSEA YMCA

Opinion

We have audited the financial statements of Swansea YMCA (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditors' 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.

Material uncertainties relating to going concern

In forming our opinion on the financial statements which is not modified, we have considered the adequacy of the disclosure in note 1 to the financial statements concerning the charity's ability to continue as a going concern.

The charity continues to be dependent on bank support and in the event this support was not available, the charity may not be able to continue in existence for the foreseeable future. Therefore, a material uncertainty exists that my cast a significant doubt on the charity's ability to continue as a going concern.

The financial statements do not include the adjustments that would result if the charity were unable to continue as a going concern.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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 Report of the Trustees.

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

Page8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SWANSEA YMCA

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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 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.

Our 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 a Report of the Independent Auditors 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Independent Auditors.

Page9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SWANSEA YMCA

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 those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Henry Lloyd Davies (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Date:..... . 21 December 2023

Page 10

SWANSEA YMCA

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Fitness Centre
Room/Ofice Hire
Projects, Activities & Admin
Other trading activities
3
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Projects, Activities & Admin
Total
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
34,345
22,689
153,667
1,200
211,901
6,168
128,034
134,202
(74,895)
2,804
697,843
700,647		 Restricted
funds
£
863,774
863,774
863,774
863,774		 2023
Total
funds
£
34,345
22,689
153,667
863,774
1,200
1,075,675
6,168
991,808
997,976
(74,895)
2,804
697,843
700,647		 2022
Total
funds
11,792
28,618
135,769
817,209
993,388
2,059
961,982
964,041
29,347
668,496
697,843

The notes form part of these financial statements

Page 11

SWANSEA YMCA (REGISTERED NUMBER: 08634510)

BALANCE SHEET 31 MARCH 2023

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
PROVISIONS FOR LIABILITIES
19
NET ASSETS
FUNDS
20
Unrestricted funds
TOTAL FUNDS		 Unrestricted
Restricted
funds
funds
£
£
1,284,224
64,166
133,207
197,373
(233,408)
(36,035)
1,248,189
(522,542)
(25,000)
700,647		 2023
Total
funds
£
1,284,224
64,166
133,207
197,373
(233,408)
(36,035)
1,248,189
(522,542)
(25,000)
700,647
700,647
700,647		 2022
Total
funds
£
1,388,129
120,558
144,559
265,117
(399,002)
(133,885)
1,254,244
(531,401)
(25,000)
697,843
697,843
697,843

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 21 December 2023

S-k.- Owe-11\S

SL Owens - Trustee

The notes form part of these financial statements

Page 12

SWANSEA YMCA

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 177,094 136,944
Interest paid (30,255) (31,839)
Net cash provided by operating activities 146,839 105,105
Cash flows from investing activities
Purchase of tangible fixed assets (12,041) (13,153)
Sale of fixed asset investments (74,895)
Net cash used in investing activities (86,936) (13,153)
Cash flows from financing activities
New loans in year 4,427
Loan repayments in year (71,255) (56,966)
Net cash used in financing activities (71,255) (52,539)
Change in cash and cash equivalents in
the reporting period		 (11,352) 39,413
Cash and cash equivalents at the
beginning of the reporting period		 144,559 105,146
Cash and cash equivalents at the end of
the reporting period		 133,207 144,559

The notes form part of these financial statements

Page 13

SWANSEA YMCA

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 2,804 29,347
Adjustments for:
Depreciation charges 41,146 40,788
Losses on investments 74,895
Interest paid
Revaluation of tangible fixed		 30,255
74,895		 31,839
Decrease/(increase) in debtors 56,392 (42,341)
(Decrease)/increase in creditors (103,293) 77,311
Net cash provided by operations 177,094 136,944

2. ANALYSIS OF CHANGES IN NET DEBT

ANALYSIS OF CHANGES IN NET DEBT
At 1.4.22 Cash flow At 31.3.23
£ £ £
Net cash
Cash at bank and in hand 144,559 (11,352) 133,207
144,559 (11,352) 133,207
Debt
Finance leases (377) (377)
Debts falling due within 1 year (124,861) 62,301 (62,560)
Debts falling due after 1 year (531,401 ) 8,859 (522,542)
(656,639) 71,160 (585,479)
Total (512,080) 59,808 (452,272)

The notes form part of these financial statements

Page 14

SWANSEA YMCA

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, as modified by the revaluation of certain assets.

Going Concern

As a largely grant funded organisation, there is always a degree of financial uncertainty within the field that we work. The current economic climate remains unstable and external funding priorities are beyond our control. The trustees, as part of their due diligence, have carefully assessed the impact of the year end net current liability position and considered the material risks that would affect the organisation's ability to continue operating as a going concern in the next twelve months, starting from the date the accounts are signed.

They are as follows;

Renewal of funding may not occur which would affect the ability to meet overheads. The loan covenant has been breached twice in the last five years. Creditors of longstanding debts may require immediate repayment. Property values may fall due to economic and inflationary pressures. Key building tenants may themselves lose funding/income or cease trading.

The trustees are ultimately responsible for risk management, and they are satisfied that appropriate controls and safeguards are in place to mitigate the risks outlined above. We have assessed the operational forecasts for the coming year, along with the necessary strategies, and are satisfied that there are sufficient resources available to continue as a going concern. However, should one or more of the issues above arise over the coming 12 months this could lead to a material uncertainty on going concern. As always, this will be carefully monitored so that appropriate action can be taken at any point should we no longer have that confidence.

We are grateful that our bank, Unity Trust pie, continue to support us with the provision of an overdraft and have recently renewed our loan facility for the next two years.

Income

All incoming resources are included on the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from room hire is recognised when the hire takes place.

Office hire is recognised by reference to the period to which it relates. Rent is charged in accordance with the terms of the rental agreement.

Fitness centre income is recognised when paid. When a payment is made for an extended period it is credited evenly over the period to the SOFA.

Donations and similar incoming resources represent monies received by the charity from charitable donations and gifts. These are recognised in the Statement of Financial Activities upon receipt.

Grant income is accounted for on an accruals basis and is shown in the financial statements when the Charity earns the unconditional right to the funds. Grants received for a specific purpose are treated as restricted funds. Revenue grants are credited directly to the Statement of Financial Activities and Capital grants are released over the life of the asset in line with the depreciation policy.

Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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.

Page 15

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES- continued

Expenditure

The cost of generating funds comprises those costs associated with attracting grant income. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities, both costs directly attributable and indirect support costs. Governance costs include those costs associated with meeting constitutional and statutory requirements of the Charity.

All costs allocated between expenditure categories are on a basis designed to reflect their resource usage. For some costs this means direct allocation to activities, other costs are apportioned, e.g. by staff time spent on the activity, or another equitable usage measure.

Joint delivery costs are recognised in the period which they are awarded to the extent that they have been expended in accordance with the funding terms and conditions.

The Charity initially identifies the costs of its support functions. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charities programmes and activities. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the three key charitable activities undertaken) in the year.

Allocation and apportionment of costs

Costs have been allocated as far as possible between the expenditure 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 have been apportioned based on the estimated usage of the resource.

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

Fixtures and Fittings - 20% on cost

Improvements to Property - 2% on cost

Plant and Machinery - 20% on cost

Included in freehold property is a land element which has a nil depreciation rate.

Taxation

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

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.

Restricted funds are funds subject to specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

Page 16

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their useful lives. Those held under finance leases are depreciated over their estimated useful lives.

The interest element of these obligations are charged to the SOFA over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the SOFA on a straight line basis over the period of the lease.

Legal status of the charity

The charily is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
2023 2022
£ £
Donations 31,677 7,563
Sundry income 2,668 4,229
34,345 11,792
3. OTHER TRADING ACTIVITIES
2023 2022
£ £
Training income 1,200

Page 17

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

4. INCOME FROM CHARITABLE ACTIVITIES

Activity
Fitness centre income
Room hire
Fitness Centre
Room/Ofice Hire
Grants
Projects, Activities & Admin
Grants received, included in the above, are as follows:
Swansea Council Summer of Fun - Goodvibes
CIN LGBT Grant
Youth Cymru
Kickstar
CIN Young Carers Grant
Swansea Council Young Carers Provision
Crossing Borders
SDF Youth Solutions
Seaside Youth Club
CIN Y Talent
Lloyds Bank Foundation
Swansea Council Young Carers ID Cards
Regional Integrated Fund - We Care
Waterloo Foundation
CIN Booster Grant
YMCA E & W Corona Grant
CRJS grants
Welsh Government
SCC LGBT + Wellbeing
LGBT Winter of Wellbeing
Regional Integrated Fund - Y Hub
Swansea Council Young Carers Respite Grant
Regional Integrated Fund - Young Carers
Y Legacy - National Museum Wales
ICF We are Young Carers
RDP Youth Solutions "Y-Future"
Neath Port Talbot
Swansea Council Young Carers Winter of Wellbeing
WCVA Active Inclusion
Peer Action Collective
Charities Aid Foundation
WCVA S.I.D. Grant
World Wildlife Fund
Moondance Foundation
Swansea Council LGBT Grant
West Glamorgan Partnership
Period Poverty Grant
Gower Riders
Regional Integrated Fund - Young Carers Grant
Swnsea Carers Centre
WG SWYVO Grant
WCVA- Third Sector Resilience Fund
C F in Wales Grant
Ars Council Wales
CWVYS Film School
Swansea Council Summer of Fun - Young Carers
Swansea Council Summer of Fun - Y Hub
Household Suppor Fund
Direct Food Support Fund
Cheshire Community Fund
Pathways to Work
Carried forard
2023
£
22,689
153,667
863,774
1,040,130
2023
£
6,500
10,000
1,085
52,326
12,500
25,873
11,349
6,818
77,868
17,537
500
24,416
39,986
26,074
174,629
29,009
171,976
1,848
714
22,000
1,113
21,953
21,953
2,975
34,678
6,992
2,200
5,000
1,200
2,430
1,771
39,751
855,024		 2022
£
28,618
135,769
817,209
981,596
2022
£
10,000
2,000
12,618
39,742
49,834
450
5,000
500
25,727
33,791
10,000
55,748
18,750
8,000
8,324
21,000
19,991
3,400
24,866
14,300
12,240
4,686
22,119
13,382
500
6,000
204,208
25,139
80,988
52,904
900
12,102
5,000
13,000
817,209

Page 18

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

4. INCOME FROM CHARITABLE ACTIVITIES - continued

4. INCOME FROM CHARITABLE ACTIVITIES - continued
2023 2022
£ £
Brought forward 855,024 817,209
LGBTQ+ Tender 8,750
863,774 817,209
5. RAISING FUNDS
Other trading activities
2023 2022
£ £
Bad debts 6,168 2,059
6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£ £ £
Projects, Activities & Admin 976,407 15,401 991,808
7. SUPPORT COSTS
Finance Support
costs		 Totals
£ £ £
Projects, Activities & Admin 1,535 13,866 15,401
--- --- ---
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2023 2022
£ £
Depreciation - owned assets 41,051 40,787

8.

9. 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.

10. STAFF COSTS

2023 2022
£ £
Wages and salaries 637,231 622,260
Other pension costs 8,058 9,562
645,289 631,822

Page 19

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2023

10. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

The average monthly number of employees during the year was as follows:
2023 2022
Facilities 6 24
Fitness 2 2
Project 18 3
Management 4 10
Placements 9
39 39
-- --

The Key Management Personnel of the Charity received remuneration of £143,304 (31/03/2022: £149,220), this includes gross salary paid, employers national insurance contributions and employers pension contributions.

11.


includes gross salary paid, employers national insurance contributions and employers
includes gross salary paid, employers national insurance contributions and employers
pension contribu
tions.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 11,792 11,792
Charitable activities
Fitness Centre
Room/Office Hire		 28,618
135,769		 28,618
135,769
Projects, Activities & Admin 8,324 808,885 817,209
Total 184,503 808,885 993,388
EXPENDITURE ON
Raising funds 2,059 2,059
Charitable activities
Projects, Activities & Admin 153,097 808,885 961,982
Total 155,156 808,885 964,041
NET INCOME 29,347 29,347
RECONCILIATION OF FUNDS
Total funds brought forward 668,496 668,496
TOTAL FUNDS CARRIED FORWARD 697,843 697,843

Page 20

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

12. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£ £ £ £ £
COST OR VALUATION
At 1 April 2022 470,000 1,296,674 93,063 345,181 2,204,918
Additions 2,650 5,298 4,093 12,041
Revaluations (74,895) (74,895)
Reclassification 1,299,324 (1,299,324)
At 31 March 2023 1,694,429 98,361 349,274 2,142,064
DEPRECIATION
At 1 April 2022 133,000 268,466 79,485 335,838 816,789
Charge for year 6,996 25,967 4,469 3,619 41,051
Reclassification/transfer 294,433 (294,433)
At 31 March 2023 434,429 83,954 339,457 857,840
NET BOOK VALUE
At 31 March 2023 1,260,000 14,407 9,817 1,284,224
At 31 March 2022 337,000 1,028,208 13,578 9,343 1,388,129

Cost or valuation at 31 March 2023 is represented by:

Cost or valu ation at 31 March 202 3 is represented by:
Fixtures
Freehold Plant and and
property machinery fittings Totals
£ £ £ £
Valuation in 2023 (74,895) (74,895)
Cost 1,769,324 98,361 349,274 2,216,959
1,694,429 98,361 349,274 2,142,064

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

If freehold land and buildings had not been revalued they wo
cost:		 uld have been included at the fol lowing histori
2023 2022
£ £
Cost 1,769,324 1,646,673
Aggregate depreciation 434,437 401,468
Value of land in freehold land and buildings 120,000 120,000

Freehold land and buildings were valued on an open market basis on 6 September 2023 by Bruton Knowles.

Included within Freehold Property is land, to the value of £120,000 that is not depreciated.

The freehold property is not considered to be a mixed use property by the trustees as the property is used to establish a third sector hub to benefit the community rather than to earn rentals.

continued ...

Page 21

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

12. TANGIBLE FIXED ASSETS- continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Fixed assets, included in the above, which are held under finance leases are as fo llows:
Fixtures
and
fittings
£
COST OR VALUATION
At 1 April 2022 and 31 March 2023 30,760
DEPRECIATION
At 1 April 2022 and 31 March 2023 30,760
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 38,152 15,156
Other debtors 3,418 85,755
Prepayments and accrued income 22,596 19,647
64,166 120,558
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 16) 62,560 124,861
Finance leases (see note 17) 377 377
Trade creditors 1,722 8,403
Social security and other taxes 59,438 60,036
Other creditors 2,470 21,071
Deferred income 73,022 154,721
Accrued expenses 33,819 29,533
233,408 399,002
15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans (see note 16) 522,542 531,401
The finance lease was used to purchase equipment for the gymnasium.
16. LOANS
An analysis of the maturity of loans is given below:
2023 2022
£ £
Amounts falling due within one year on demand:
Bank loans 62,560 124,861
Amounts falling between one and two years:
Bank loans - 1-2 years 50,149 32,352
Amounts falling due between two and five years:
Bank loans - 2-5 years 129,419 109,422

Page 22 continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

16. LOANS - continued

16. LOANS - continued
2023 2022
£ £
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 342,974 389,627
17. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£ £
Net obligations repayable:
Within one year 377 377
18. SECURED DEBTS
The following secured debts are included within creditors:
2023 2022
£ £
Bank loans 585,102 656,262
Finance leases 377 377
585,479 656,639

The bank loans and overdrafts are secured by:

Finance leases are secured against the assets they relate.

19. PROVISIONS FOR LIABILITIES

19. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Provisions 25,000 25,000
20. MOVEMENT IN FUNDS
Net
movement At
At 1.4.22 in funds 31.3.23
£ £ £
Unrestricted funds
General fund 697,843 2,804 700,647
TOTAL FUNDS 697,843 2,804 700,647

Page 23

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

20. MOVEMENT IN FUNDS - continued

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

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 211,901 (134,202) (74,895) 2,804
Restricted funds
Swansea Council Summer of Fun -
Goodvibes 6,500 (6,500)
CIN LGBT Grant 10,000 (10,000)
Regional Integrated Fund - Y Hub
Kickstart
Swansea Council Young Carers Provision		 24,416
1,085
52,326		 (24,416)
(1,085)
(52,326)
SDF Youth Solutions 12,500 (12,500)
CIN Y Talent 25,873 (25,873)
Lloyds Bank Foundation Grant 11,349 (11,349)
Swansea Council Young Carers ID Cards 6,818 (6,818)
Regional Integrated Fund - We Care 77,868 (77,868)
Waterloo Foundation 17,537 (17,537)
CIN Booster Grant 500 (500)
Regional Integrated Fund - Young Carers 39,986 (39,986)
RDP Youth Solutions "Y-Future" 26,074 (26,074)
WCVA Active Inclusion 174,629 (174,629)
Peer Action Collective 29,009 (29,009)
Charities Aid Foundation 171,976 (171,976)
Period Poverty Grant 1,848 (1,848)
Gower Riders 714 (714)
Regional Integrated Fund - Young Carers
Grant 22,000 (22,000)
Swansea Carers Centre 1,113 (1,113)
WG SWYVO Grant 21,953 (21,953)
WCVA- Third Sector Resilience Fund 21,953 (21,953)
C F in Wales Grant 2,975 (2,975)
Arts Council Wales 34,678 (34,678)
CWVYS Film School 6,992 (6,992)
Swansea Council Summer of Fun - Young
Carers 2,200 (2,200)
Swansea Council Summer of Fun - Y Hub 5,000 (5,000)
Household Support Fund 1,200 (1,200)
Direct Food Suport Fund 2,430 (2,430)
Cheshire Community Fund 1,771 (1,771)
Pathways to Work 39,751 (39,751)
LGBTQ+ Tender 8,750 (8,750)
863,774 (863,774)
TOTAL FUNDS 1,075,675 (997,976) (74,895) 2,804

Comparatives for movement in funds

Net
movement At
At 1.4.21 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 668,496 29,347 697,843
TOTAL FUNDS 668,496 29,347 697,843

continued ...

Page 24

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENDED 31 MARCH 2023

20. MOVEMENT IN FUNDS· continued

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

Comparative net movement in funds, included in the ab ove are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 184,503 (155,156) 29,347
Restricted funds
CIN LGBT Grant 10,000 (10,000)
Youth Cymru 2,000 (2,000)
Regional Integrated Fund - Y Hub 24,866 (24,866)
Kickstart 12,618 (12,618)
Swansea Council Young Carers Provision 89,576 (89,576)
Crossing Borders 450 (450)
SDF Youth Solutions 5,000 (5,000)
Seaside Youth Club 500 (500)
CIN Y Talent 25,727 (25,727)
Lloyds Bank Foundation Grant 33,791 (33,791)
Swansea Council Young Carers ID Cards 10,000 (10,000)
Regional Integrated Fund -We Care 55,748 (55,748)
Waterloo Foundation 18,750 (18,750)
YMCA E & W Corona Grant 8,000 (8,000)
Welsh Government 21,000 (21,000)
SCC LGBT + Wellbeing 19,991 (19,991)
LGBT Winter of Wellbeing 3,400 (3,400)
Swansea Council Young Carers Respite
Grant 14,300 (14,300)
Regional Integrated Fund - Young Carers 12,240 (12,240)
Y Legacy - National Museum Wales 4,686 (4,686)
ICF We are Young Carers 22,119 (22,119)
RDP Youth Solutions "Y-Future" 13,382 (13,382)
Neath Port Talbot 500 (500)
Swansea Council Young Carers Winter of
Wellbeing 6,000 (6,000)
WCVA Active Inclusion 204,208 (204,208)
Peer Action Collective 25,139 (25,139)
Charities Aid Foundation 80,988 (80,988)
WCVA S.I.D. Grant 52,904 (52,904)
World Wildlife Fund 900 (900)
Moondance Foundation 12,102 (12,102)
Swansea Council LGBT Grant
West Glamorgan Partnership		 5,000
13,000		 (5,000)
(13,000)
808,885 (808,885)
TOTAL FUNDS 993,388 (964,041) 29,347

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.4.21 in funds 31.3 .23
£ £ £
Unrestricted funds
General fund 668,496 32,151 700,647
TOTAL FUNDS 668,496 32,151 700,647

Page25

continued . .

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 MARCH 2023

20. 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:

A current year 12 months and prior year 12 m
as follows:		 onths combined n et movement in f unds, included i n the abovea
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 396,404 (289,358} (74,895) 32,151
Restricted funds
Swansea Council Summer of Fun -
Goodvibes 6,500 (6,500)
CIN LGBT Grant 20,000 (20,000)
Youth Cymru 2,000 (2,000)
Regional Integrated Fund - Y Hub 49,282 (49,282)
Kickstart 13,703 (13,703)
Swansea Council Young Carers Provision 141,902 (141,902)
Crossing Borders 450 (450)
SDF Youth Solutions 17,500 (17,500)
Seaside Youth Club 500 (500)
CIN Y Talent 51,600 (51,600)
Lloyds Bank Foundation Grant 45,140 (45,140)
Swansea Council Young Carers ID Cards 16,818 (16,818)
Regional Integrated Fund - We Care 133,616 (133,616)
Waterloo Foundation 36,287 (36,287)
CIN Booster Grant 500 (500)
YMCA E & W Corona Grant 8,000 (8,000)
Welsh Government 21,000 (21,000)
SCC LGBT + Wellbeing 19,991 (19,991)
LGBT Winter of Wellbeing 3,400 (3,400)
Swansea Council Young Carers Respite
Grant 14,300 (14,300)
Regional Integrated Fund - Young Carers 52,226 (52,226)
Y Legacy - National Museum Wales 4,686 (4,686)
ICF We are Young Carers 22,119 (22,119)
RDP Youth Solutions "Y-Future" 39,456 (39,456)
Neath Port Talbot 500 (500)
Swansea Council Young Carers Winter of
Wellbeing 6,000 (6,000)
WCVA Active Inclusion 378,837 (378,837)
Peer Action Collective 54,148 (54,148)
Charities Aid Foundation 252,964 (252,964)
WCVA S.I.D. Grant 52,904 (52,904)
World Wildlife Fund 900 (900)
Moondance Foundation 12,102 (12,102)
Swansea Council LGBT Grant 5,000 (5,000)
West Glamorgan Partnership 13,000 (13,000)
Period Poverty Grant 1,848 (1,848)
Gower Riders 714 (714)
Regional Integrated Fund - Young Carers
Grant 22,000 (22,000)
Swansea Carers Centre 1,113 (1,113)
WG SWYVO Grant 21,953 (21,953)
WCVA - Third Sector Resilience Fund 21,953 (21,953)
C F in Wales Grant 2,975 (2,975)
Arts Council Wales 34,678 (34,678)
CWVYS Film School 6,992 (6,992)
Swansea Council Summer of Fun - Young
Carers 2,200 (2,200)
Swansea Council Summer of Fun - Y Hub 5,000 (5,000)
Household Support Fund 1,200 (1,200)
Direct Food Suport Fund 2,430 (2,430)
Cheshire Community Fund 1,771 (1,771)
Pathways to Work 39,751 (39,751)
LGBTQ+ Tender 8,750 (8,750)

Page26

continued ...

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

20. MOVEMENT IN FUNDS • continued

MOVEMENT IN FUNDS • contin ued
1,672,659 (1,672,659)
TOTAL FUNDS 2,069,063 (1,962,017) (74,895) 32,151

Restricted Funds

The purpose of the restricted funds are detailed below:

Swansea Council Summer of Fun grants provided fun activities for young people and families across Swansea during the school holidays.

Children In Need LGBT Grant - providing a safe space for young LGBT + (11 - 18) people to meet and access workshops in a peer led group.

Regional Integrated Fund - Y Hub provides a safe environment to support young people in our community and neighbourhood who are at risk of exploitation; it provides not only a safe space to allow in-depth work with young people bit offers a source of hope, empowerment, and education.

Kickstart - a Government backed scheme offering six-month placements open to those aged 16 - 24 who are claiming Universal Credit and at risk of long-term unemployment.

Swansea Council Young Carers Grant - supporting young carers by providing a holistic family approach to reducing barriers to accessing support and increasing their resilience to their caring role.

SDF Youth Solutions - Y-Gower project providing opportunities for young people to explore the Gower via trips, visits and activities.

Children In Need Y Talent - for young people aged 5 to 18 to use music and arts as an engagement tool to improve mental health and wellbeing.

Lloyds Bank Foundation - Y Street programme provides intensive support for people at risk of homelessness/currently sofa-surfing aged 16plus.

Swansea Council Young Carers ID Cards.

Regional Integrated Fund We Care Young Carers Project - Young Carers School Work, PSE lessons, professionals training, residentials, trips and activities, forum and podcast

Waterloo Foundation - providing intensive support and "buddy sessions" for young carers and organise family events so that all members of the young carer's family can attend.

CIN Booster Grant - An extension of our grant for Y-Talent using music and creative opportunities as a catalyst for engagement and impactful youth work for young people aged 5-18.

Regional Integrated Fund YMCA Young Carers - weekend wellbeing project for young carers as well as a school drop in provision and homework club. As well as information stalls in the community about young carers and our related services.

RDP Youth Solutions "Y-Future" - Y-Future - a youth led project looking at the environment and climate change.

WCVA Active Inclusion - supporting people to overcome barriers to employment by providing work placements, accredited training and intensive support.

The Peer Action Collective was a research project that engaged, inspired, and motivated young people into discussions about society and the communities in which they live with a particular focus on issues relating to youth violence and the youth justice system.

Charities Aid Foundation Resilience Fund Grant - enables organisations in communities hardest hit by the COVID-19 pandemic to adapt and thrive; to continue to deliver services that support the needs of beneficiaries whilst also building organizational resistance.

Period Poverty Grant - provide free period products to those who access our building and our services Gower Riders - provided funding for a trip for young carers from Swansea and surrounding areas.

Regional Integrated Fund Young Carers Grants - enabled young carers to apply for grants to help them over the Christmas period. This included vouchers and money towards individual needs.

continued ...

Page 27

SWANSEA YMCA

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

20. MOVEMENT IN FUNDS - continued

Swansea Carers Centre - funding for the Designing Young Carers Charter event.

Welsh Government SWYVO Grant - LGBTQ+ Co-Ordinator role supporting LGBTQ+ young people, including a youth group, school work, creating training for professionals.

WCVA Third Sector Resilience Fund 3 - grants with a loan element to help third sector organizations build resilience following income reduction due to Covid-19.

Community Fund In Wales Grant - Sessional Workers for Y-Hub project to support the outreach provision and the youth groups aspects of this project.

Arts Council Wales - Salary costs and project costs for Y-Talent to use music as a gateway for youth work including outreach sessions in the community.

CWVYS Film School gave young people an opportunity to learn about filming and editing from industry professionals, learn new skills and play a part in developing our Y-Legacy series.

Household Support Fund - White goods for our kitchen area used in our work with young people Direct Food Support Fund - provided money to pay for food for our youth groups.

Cheshire Community fund - Sessional Workers for Y-Hub project to support the outreach provision and the youth groups aspects of this project.

Pathways to Work - Employability project which provided support for people not in education, training or employment to find placements or paid employment.

Swansea Council LGBTQ+ Tender - to expand on our LGBTQ+ provision including our youth group and school work advocating for and supporting LGBTQ+ young people

Transfers between funds

During the year the charity has transferred unrestricted funds to various restricted funds for matched funding.

The trustees have transferred funds in relation to capital grants received in prior years to unrestricted funds. The trustees consider this to be more appropriate as all monies have been spent relating to the grants and there are no restrictions.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page28

SWANSEA YMCA

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

FOR THE YEAR ENDED 31 MARCH 2023
2023 2022
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 31,677 7,563
Sundry income 2,668 4,229
34,345 11,792
Other trading activities
Training income 1,200
Charitable activities
Fitness centre income 22,689 28,618
Room hire 153,667 135,769
Grants 863,774 817,209
1,040,130 981,596
Total incoming resources 1,075,675 993,388
EXPENDITURE
Other trading activities
Bad debts 6,168 2,059
Charitable activities
Wages 637,231 622,260
Pensions 8,058 9,562
Telephone 12,593 11,753
Postage and stationery 3,499 2,821
Sundries 5,903 5,281
Premises costs 99,170 91,751
Travel costs 26,127 11,823
Training costs 7,135 9,154
Marketing costs 1,136 2,547
Project costs 79,043 76,604
Subscriptions & memberships 4,458 6,774
Refreshments 612 854
IT costs 4,104 11,666
Legal & professional fees 15,937 7,818
Grants repayable
Depn of freehold property
Improvements to property		 7,091
25,967		 11,500
7,000
25,932
Plant and machinery 4,722 6,046
Depn of fixtures and fittings 3,366 1,810
Bank interest 10,204
Bank loan interest 20,051 31,839
976,407 954,795
Support costs
Finance
Bank charges 1,535 2,788
Support costs
Accountancy and legal fees 13,866 4,399
Total resources expended 997,976 964,041
Net income before gains and losses 77,699 29,347

This page does not form part of the statutory financial statements

Page29

SWANSEA YMCA

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

FOR THE YEAR ENDED 31 MARCH 2023
2023 2022
£ £
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments (74,895)
Net income 2,804 29,347

This page does not form part of the statutory financial statements

Page 30