COMPANY REGISTRATION NUMBER: 08151495 CHARITY REGISTRATION NUMBER: 1155885 Cardiff Young Men's Christian Association Company Limited by Guarantee Financial Statements 31 March 2024 CARSTON Chartered accountants & statutory auditor 1st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ
Cardiff Young Men's Christian Association Company Limited by Guarant88 Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 11 statement of financial position 12 Stalement of cash flows 13 Notes to the financial statements 14
Cardiff Young Men's Chrlstlan Association Company Llmlted by Guarantee Trustees, Annual R8POrt (Incorporating the Dlrector's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Reglsterod charlty nam8 Cardiff Young Men's Christian Association Charlty reglstratlon number 1155885 Company roglstratlon number 08151495 Prlnclpal office and reglstered Cardiff YMCA offlce The Walk Roath Cardiff CF24 3AG Tha tru8tees Mr D Colas Mr D Joyce Mrs E Powell MrALBell Ms M Rees Mr O AJ'ayi-Ob8new Ms A Johnson Ms R WlaY Chairperson Resigned 19 March 2024 Resigned 19 MarGh 2024 Appointed 14 Novemb8r 2023 Appointed 19 March 2024 Appointed 19 MarBh 2024 Company Secretary & Senlor Management Andrew Templeton Audltor Carston Chartered accountants & ststutory auditor 18t Floor, Tudor House 16 Cathedral Road Cardiff CF119U Bank•rs Lloyds TSB Bank plc 14 The Globe Centre WellfEld Road Roath Cardiff Sollcltors Morgan Cole Bradley Court Park Place Cardiff CF13DP
Cardiff Young Men's Christian Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the DIreCtoS Report) (conllnu•d) Year ended 31 March 2024 OBJECTIVES AND ACTIVITIES The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard for th8 Charity Commission's guidance on public benefrt. Summary of charity's objects The objects of the association arlse from its acc8Ptance of th8 Paris basis of 1855 incorporated into the national statement of the aims and purposes of the YMCA in VVaEes, 8dopted as part of these articles namely.. Yhe YMCA is a worldwid8 Christian, 8cum8nical. voluntary movement forpeople with speci81 emphasis on the genuine involvement of young people and th8t it saeks to share the ideal of building human community ofjustice with love. peace and reconc1118tn for the fullness oflrfe for all creation" It W81come8 into its fellowship persons of all religious faiths and of none. In accordance with its Christian values the YMCA stands for: 8 worldwide fellowshlp based on the equal value of all persons. respect and freedom for all, tolerance and understanding between peoplè of dlfferent oplnlons; 8nd 8cliva concam for the naads of the communlty. As the expression of its Christian purpose8 the YMCA aims to: provide a walcorne to its members for themselves In a meeting place which is theirs to share. where friendships can be made and counsel sought. develop acttvities which stimulate and challenge members in an environment that enables them to take responsibility to find a sense of achievement" Involve all members in the care and work for others," and create opportunities for exchanging views so that members can improve their understanding of the world, of themselves 8nd of one another. Accordingly, th6 objects of the association are: to provlde or assist in the provision in the interest of social welfare of facllllles for r8sld8ntlal or recraational use and other lelsure tlme occupation for men and women with the object of Improvlng their condition of life; to provide or assist in the provision of education for persons of all ages with the object of developing their physical. mental and spiritual capacity.: and to relieve or assist in the r81i8f of p8rsons of all ages who are in conditions of need, hardship or distress by reason of their social, physical or economic circumstances. 1Olhilst we provide inter-generational serrfices for the whole communty, th8 priority is young people, particulatty in times of need. Although the origins of our organisation Gome from a Christian basis, we welcome people of all faiths and beliefs and of none to use our services. We are an organisation that values diversty and promotes equal opportunities. Strategy for achlevlng the objects The charity continues to wn support programmes across Cardiff and the Vale of Glamrgan. Its focus remains on supporting young carers, young adutt carers, generic youth work and sexual health awareness and education. During the year, it has added programmes on gender equalty for young people, mental health resilience and counselling for its young people. Within the year, it has also worked strategically with its partner organisation, Cardrff YMCA Housing Association to start housing support programmes for unaccompanied asylum seekers and more generally, young people at risk of homelessness.
Cardiff Young Men's Christian Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contlnu¢d) Year ended 31 March 2024 ObJecllves and actlvlties (¢ontlnu•d) In line wtih a refreshed business plan (2024-27). the charity is preparing for its merger with Cardiff YMCA Housing Association, there is an uncertainty with the timing of the merger. This merger will not only strengthen its financial resilience, but also provide it with a Registered Social Landlord status, that will transfer ov8r to th8 charity with the m8rger. Strateglc report The following $8Ctions for achievement8 and p8rfomiance and financial review form the strategic report of the charity. ACHIEVEMENTS AND PERFORMANCE Over the past 12 months, the charlty has agaln successfully ra-tendared or maintained its contracted work In the flelds of young carers, sexual health, gender equality projects and youth work. These mainstay projects continue to provide ongoing support or those at risk or most vulnerable across Cardiff and the Val8 of Glamorgan. In addition, th8 charity's social 8nt8rpris8 arm, YMCA Plas continues to operate successfully and serve the needs of the local communlty and young peopl6 in the area. The charity has also entered into a new area of work in partnership with Cardiff YMCA Housing Association, where it supports young people at risk of homelessness. Through this partnership, 18 new homes are being developed, scheduled to open in February 2025, providing supported housing to young peopl8, at risk of hom8188sn8S8 in the city. YMCA Cardiff, through its CEO and board continues to play a leading role in tha continued development of YMCAS across Wales, wilh tha CEO continuing to chair the YMCA Cymru group of Wel$h YMCA8. An independent review conducted by YMCA England & Wales was launched in the year and YMCA Cardrff activaly participated In this process. Following this, a new leadership panel was convened. and YMCA Cardiff is a member of thls group also, charged with mapping out a new future for the YMCA movement across Wales, A rnerger beiween YMCA Cardiff and Cardiff YMCA Housing As50cialion has been '8greed in principle, for some years. In this year, this matter was revisited and both boards of Trustees agreed this was in the best long-temi interests of both YMCAS, Cardiff YMCA remains committed to a merger wlth Cardiff YMCA Housing Assoclatlon. Whllst the legal and financlal due diligence processes have been undertaken successfully, the board of trustees is aware of the recent ruling on EICR issues that is affecting the housing sector in Wal8s. This presents a degree of uncertainty in terms of a final merger completion and the board is currently actively taking measure to review this issue further in ord8r ensure a marger remains the best long t8mi option for the charity.
Cardiff Young Men's Christian Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (conthiued) Year ended 31 March 2024 FINANCIAL REVIEW Flnanclal Po3ltlon - revlew at the end of the rnportlng parlod Total income for the year was £784,100 (2023.. £720,582). The main source of income is donations and grants received which amounted to £458,674 (2023: £388,821). other sources of income relate to the service level agreem8nt8 and investrnent income from rental of room hir8 etc. The amount of total expenditure for the year was £822,532 (2023: £797,343) There has been an increase in wages costs and yOLrth activty costs resulting from an increase in funding receiv8d for those services. Total net expenditure and net movement in funds amounts to £38,432 (2023: £76,761). Ros•rv•s Pollcy It is the policy of the Charity to make a 8mall surplus each year. This provides suffi'cient funds to cover management, administratlon and support costs, together with any exceptional or unplanned expenditure. The financial reserwes set aside since the fomation of the Charity provide financlal stsbllity and the means for the development of the Charity'8 activities. At the year end th8 re8etV88 Position 18 as follows". Unrestricted reseD/es Designated reserves Restricted reseNes £268,939 £233,493 £559,871 (2023: £286,162) (2023.. £233,493) (2023.. £581,080) Unrestricted free reseNes amount to £132,542 (2023: £157,329). A designated fund contingency reserve has been set up by the trustees as a contingency measure to maintain reserves at a level, which is equivalent to 6 months of budgeted expenditure, which 1$ approximately £100,000. There are also further designated reserves of £120,000 towards Plasnewydd development capital costs and £13,493 towards the rnerger. The total amount of designated reserves are £233,493 (2023.. £233,493). Restricted reserves include Plasnewydd Centre development grants of £411.317 (2023: £420,426). An amount of £580,883 has been exp8nded to date and capitalised as land and buildings. The reserve reduces annually by a depreciation charge now construction has been fully completed. Brlef r8vl8w of th6 charity's flnanclal posltlon Sufficient funds are available to ensure that the Charty will continue in operation for the foreseeable future. Rlsk Management The Board of Directors actively review the major risks which the Charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide SLrfficient resources in the event of adverse conditions. The Board of Directors have also examined other operational and business risks faced by the Charity and confim that they have established systems to mitigate the significant risks.
Cardiff Young Men's Christian Association Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Dir8Ctor's Raport) (conunued) Year ended 31 March 2024 PLANS FOR FUTURE PERIODS The focus for the charity for the coming 12 months will be continuing to build back post Covid its overall charitable operations, but with a particular focus on its YMCA Plas social enterprise site. Architects have been Gommissioned to develop a long-term plan forthe site that builds on the existing sparE at the site to add more community resource to the 8XiSting floor plan as w811 as look to cr8at8 housing on site for young people. This plan will then guide the charity as it sed(s to develop a staged redevelopment plan for the site, The next 12 months will see a re-tender exercise on some of its main young people programmes. The charity Intends to focus its efforts on maintaining these key contracts. The charity will also continue lo prepare for compliance with the YMCA Membership Agr88m8nt standards, which is due in 2023 and a focus on this will be paramount over Ihe coming year. Cardiff YMCA maInS committed to a merger with Cardiff YMCA Housing Association. Whilst the legal and financial due diligence processes have been undertaken successfully, the board of trustees is awar8 of the recent ruling on EICR issues that is affecting the housing sector in Wales. This presents a degree of uncertainty in terns of a final merger completion and the board is currently actively taking measure to review this issue further in order ensu a merger remains the best long term oplion for the Chaiity. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document The predecessor charity, Cardiff YMCA, was fomied in 1844 and registered as a charlty on the 30 December 1966. The Cardiff Young Men's Christian Association was incorporated on 20 July 2012 underthe Compani8s Act 2008 and registered 88 a charity on 21 February 2014. It st8rt8d to operate on the 1 April 2014 having taken over the assets, liabilitFes and activities of the predecessor charty. Whilst the YMCA now has a new charity number and legal structure, the remit of the organisation and its work remains unchanged. The Cardiff Young Men's Christian Association 18 s charitable company limited by guarantee and as such is governed by a memorandum and articl of association. Recrultment and appolntment of Trustees The Board of Directors are also Charity Trustees for the purposed of charity law. Under the constitution, the Chairperson shall nomially serve for a maximum period of five consecutive years. Each year one third of the elected members of the Board shall retire in rotation according to seniority of holding office at the Annual Business Meeting and are eligible for re-election. Organlsatlon Structure The Cardiff YMCA directors also the charty twstees, are legally responsible for the overall management and control and meet at least 10 time5 per year. The work of implementing most of their policies is carried out by the members of the Finance Committee and the Chief Executive, who meet as and when required. The day to day running of the Charity is delegated to the Chief Executive who attends all Board meetings and Sub-committee Meetings.
Cardiff Young Men's Christian Assoclatlon Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Report) (continued) Year ended 31 March 2024 Trustees. responslbllltles statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GeneralFy Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incomlng resources and application of resources, including the income and expenditure, for that period. In pr8paring these financial stat8ment8, the trustees are required to.. select suttable accounting policies and th8n apply th8m con818tently; observo the methods and principlas In the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent,, State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial ststements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and di8close with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with thè Companies Act 2006. They are also responsible for safeguarding the assets of tha charity and henGe for taking reasonable steps for the prevention and detection of fraud and other Irregularities. Exh of the person8 who 18 a trustee at the date of approval of this report confirms that.. so far as they are aware, there is no relevant audit infomiation of which the charity's auditor is unaware" and they have taken all steps that they ought to have taken a8 a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Audltor The auditor is deemed to have been re-appolnted in accordance with section 487 of the Companies Act 2006. The trustees, annual report and the strategic report were approved on ..... ... .. ..... on behalf of the board of trustees by.. and signed Trustee..
Cardiff Young Men's Christian Association Company Limited by Guarantee Independ8ntAudltoVs Report to tha Members of Cardiff Young Men's Christian Association Year ended 31 March 2024 Oplnlon We have audited the financial statements of Cardiff Young Men's Christian Association (the 'charitsble company,) for the year ended 31 March 2024 which comprise the ststement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation Is applicable law and Unlted Kingdom Accounting Stsndards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements-. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordanc8 With International Standards on Auditing (UK) (ISA8 (UK)) and applicable law. Our responsibilities under those standards are further described in the auditols responsibilitl8s for the audit of the financial staterrEnts section of our report. We are independent of the charity in accordanc8 Wlth the ethical r8quir8m8nt8 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 responsibilitias in accordance with these requirements. We believe that the audit evidence we have obtained 18 sufficient and appropriata to provide a basis ft)r our opinion. Concluslons relatlng to golng concern In auditing the financial statements, we have concluded that the trust888' use of the going ¢oncem b8818 of accounting in the preparation of the financlal statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainti88 relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least bNelve monlhs from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the trustees viith respect to going concern are described in the relevant sections of this report. Oth8r Inforniatlon The other Infomiation comprises the infonnation included in the trustees annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statement5 does not cover the other infonmation and, except to the extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. Our responsibility is to read the other infonnation and. in doing so, consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or othwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detennine 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 ar8 r8quired to report that fact. We have nothing to report in this regard.
Cardiff Young Men's Chrlstlan Association Company Limltad by Guarantsa Independent Auditor's Report to the Memb8rs of Cardiff Young Men's Christian Association (conllnu8d) Year ended 31 March 2024 Opinlons on other matters prescrfbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infonnation given in the trustees, report (incorporating the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the directors, report has been prepared in accordan wÉth applicable legal requirements. Matters on whlch we are required to report by exceptlon 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 directopa, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion: adequate accounting records have not been kept. or returns adequate for our audit have not baen received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the inf0mtIOn and explanations we requlre for our audlt,. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tak8 advantage of th8 small companies. exemptions in preparing the directors, report and from tha requirement to prepare a strategic report. Responslbllltles of trustees A5 explained more fully in the trustees, responsibilities statement. the trustees (who ar& also the directors of the eharitab16 company forthe purposes of company law) are responsible forthe preparation of the financial statements and for being satiSfd 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, th8 trustees are responsible for assessing the charitable companys abilty to continue as a going concern, disclosing, as 8pplicable, matters related to going oncem and using the going concem 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. Auditofs responsibllltles for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial stat8m8nts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always deted a material misststement when it exists. Mi55tatements can arise from fraud or error and are considered material if, individually or in the aggregate, they wuld reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with lay and regulations. Vile identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these beeen our audit team members. We then designed and perfomied audit prOdureS responsive to those risks, including obtaining audit evidence sufficient and appropriate to provid8 a basis for our opinion.
Cardiff Young Men's Christian Association Company Limited by Guarantee Independent Auditorfs Report to the Members of Cardiff Young Men's Christian Association (contlnu•d) Year ended 31 March 2024 We design our procedures so as to obtain sufficient appropriate audit evidence that the financial statements are not materially mi8Stat8d due to non-compliance with laws and regulations or due to fraud or eThor. We are not responsible for preventing non-compliance and cannot be expected to detect non- compliance with all laws and regulations - this responsibilty lies with manag8ment with the oversight of the Trustees. Based on our understanding of the charitable company and the charity sector, discussions with management and trustees we identifEd financial reporting standards, Charities Act 2011 and Companies Act 2006 as having a direct effect on the amounts and disclosures in the financial statements. As part of the engagem8nt team discussion aboLrt how and where the charitable company'8 financial statements may be materially misststed du8 to fraud, we did not identify any areas with an increased risk of fraud. Our audlt procedures included.. completing a rlsk-assessment proce&8 during our plannlng for this audit that speclflcally considered the rfsk of fraud: enqulry of management about the charitable company's policies, procedures and related controls regarding compliance wlth laws and regulations and if there are any known Instances of non- compliance,. examlnlng supporting documents for all material balances, transactlons and disclosures: enquiry of management. about litigations and claims and inspection of r818vant correspondence: analytical procedures to identify any unusual or unexpected relationships., specific audit testing on and review of areas that could be subject to management override of controls and potential bias, most notably around the key judgments and estimates. including the carrying value of accruals. provlslons, grant making and revenue recognition,. considering m8nagement override of controls outslde of the nomal operating cycles Includlng testing the appropriateness of joum81 entries recorded In the general ledger and other 8djustmenls made In th8 preparatlon of the financial statements including evaluatlng the r8tlonale of significant transaclions. oulside th8 nomial course of charitable activity. Because of the Inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: Identify 8nd assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perform audit procedures responslv8 to those risks. and obtain audit evidence that Is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resultlng from error. as fraud may involve collusion. forgery, intents'onal omlssions, misrepresentations. or the override of internal control, Obtain an understanding of intemal control relevant to the audit in order to design audit procedu$ that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and re18ted disclosures made by the trustees.
Cardlff Young Men's Christian Association Company Llmited by Guarantee Independent Auditorfs Report to the Members of Cardlff Young Men's Christian Association {conllnugd) Year ended 31 March 2024 Conclude on the appropriateness of the trustees, use of the going concem basls of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertalnty exlsts. we are required to draw attention in our auditorfs report to the related discbsures in the financial ststements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the 8udit evidence obtslned up to the date of our auditorfs report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate th8 overdll pr888ntatEon, structure and content of the financial statements, including the disdosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matter6, the planned scope and timing of the audit and Gneant audit findings, including any significant deficiencies in internal conlrol that we identify during our audit. Uso 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 th8 Companies Act 20IA. Our audit work has been undertaken so that we might state to the charitable company's membars those matters we are required to state to them in an auditorfs report and for no olher 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 mambers as a body, for our audit work, for thls report, or for the oplnlons we have fomied. Farzana Ahmed (Senior Statutory Auditor) For and on behalf of Carston Chartered accountants & statutory auditor 1st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ Dated:Iq[Iil&ox4 10
Cardiff Young Men's Christian Association Company Llmlted by Guarantee Statement of Financial Actlvltles (including income and expenditure account) Year ended 31 March 2024 2024 Restrided funds Total funds Total funds 2023 Unrestricted funds Noto Income and endowments Donations and legacies Charitable activities Other trading activities Investment in¢om& Other income 112,622 348,052 128,000 458,674 128,000 3,586 186.261 7,579 784,100 388,821 112,746 3,586 186,261 7,579 202,483 16,532 720,582 Total Income 310,048 474,052 Expenditure Expenditure on charitable activities Total axpenditurn 10,11 327,271 495,261 822,532 822,532 797,343 327,271 495,261 797,343 Net expenditure and net movement In funds {17.223) (21,209) (38,432) (76.761) Reconciliation of funds Total funds brought forward Total funds carried forward 519,655 581,080 1,100.736 1,062,303 1,177,496 1.100.735 502,432 559,871 The statement of financial activities includes all gains and losses recogni3ed in the year. All income and expenditure derive from continuing activities. The notes on pag•8 14 to 26 forni part of these tlnancial Btatements. 11
Cardiff Young Men's Christian Association Company Limlted by Guarantse stat8m8nt of Flnanclal Position 31 March 2024 2024 2023 Note Fixed assets Tangible fed assets 16 548.509 550,053 Current assets Debtors Cash at bank and in hand 17 78,094 503,433 65.817 551,066 581,527 818,883 Credltor8: amounts falllng du8 wlthln on8 year Not currnnt assets 18 62,733 56,201 560,682 1,110,735 518.794 Total assots loss curront Ilabllltles 1,067.303 Credltors: amounts falllng due after morn than on• year 19 6,000 1,062,303 10,000 Not assets 1,100.735 Fund8 of the charfty Restricted funds Unrestricted funds General funds D88ignated funds 559,871 581,080 268.938 233,493 286,162 233,493 602,431 1,062,303 519,655 1,100,735 Total charlty funds 22 Th8S8 financial statements wore approved by the board of trustees and authorised for issue on 19 November 2024, and are signed on behalf of the board by: Slqn Slgn Prfnt N8mo prtnt Name Trustee Trustee Company Registration Number: 08151495 The notes on pages 14 to 26 forni part of the8e flnan¢lal Statements. 12
Cardlff Young Men's Chrlstian Association Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng activitles Net expenditure (38N32) (76,781) Adjuslm8nts for Depreciation of tangible fixed assets Investment rental income Interest payable and similar charges Accrued expensesl(income) 24,545 20,416 (186,261) {202.483} 113 682 12.007 (12,655) Changes in.. Trade and other debtors Trade and other creditors {24,277) 2,293 (210,012) (180.978) 85,577 4.246 Cash generated from operations Interèst pald Investment nts1 Income 1113) 186,261 (682) 202,483 20,823 Net cash (used in)Ifrom operating activities (23,864) Cash flows from Inv88tlng actlvttl98 Purchase of tanglbl8 assets Net Gash used in investing a¢tivitie3 {23,001> 123,001) Cash flow8 from flnanclng actlvltl88 Payment8 of finance lease liabilities Net cash used in financing actwities (768) (768) {4,600) (4,600) Net (decraase)Ilncraase In cash and cash equlvalents {47,633) 16,223 Cash and cash equlvalents at beglnnlng of year Cash and cash equivalents at end of year 551.066 534,843 551,066 603,433 The notes on pages 14 to 26 fomi part of theso financial statements. 13
Cardiff Young Men's Chrlstlan Association Company Limlted by Guarantea Notes to the Financial Ststements Year ended 31 March 2024 General informatlon The charity is a public benefft entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Cardrff YMCA, The Walk, Roath, Cardiff. CF24 3AG. Statsment of compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charltl8S SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcles Bash of pr•p4ration The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which ts the functional currency of the entty. Golng Goncern After making reasonable enquiries and having considered the impact of various factors on the financial perfomiance of the charity and its current performance, the Trustee's believe that the charity will be able to continue to fulfil its charitab18 purpose, will be able to meet lis liabiltties as they fall due, and will have adequate resources to continue In operational existence for the foreseeable future. Accordingly, the trustees continue to adopt the golng concem basis in preparing the financial statements. Judgements and key sourc88 of •stlmatlon uncortalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the Trustees in furtherance of the general obJ"ectives of the Charrty. Restricted funds comprise income received with special conditions 8ttached. Income for a specif purpose not spent in any year is carried fonvard in the ral8vant fund. Designated funds are unrestricted funds that the Trustees of the Charity have set aside. out of general funds and comprise sums of money for specific projects that can either be the updating of existing, or the development and piloting of new, charrtable serviGes. 14
Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Financial Statements {conflnuedJ Year ended 31 March 2024 Accountlng pollcles IntInu•) Incomlng resources All incoming resources are included in the Statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefts associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gfft, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entit18m8nt is established. incomé from donatèd g(x)ds is m6asur6d at tha falr value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contributs'on of general volunteers. income from ntraCt5 for the supply of services is recognised with the dellv8ry of the contracted seniice. This is classified a8 unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Resourc•s axpandod Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure Includes any VAT which cannot be fully recovered, and is clasSifd under headings of the statement of financial actlviti8s to whlch It relates: expenditure on ralslng funds Includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charttable actiwties includes all costs incurred by a charity In undertaking activit18S that fiJrth8r its charitable aims for the benefit of its beneficiaries. including those 8UPPOrt costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for th8 charty nor part of its expenditure on charitable activities. All costs are allocatad to exp8nditure categories refiecting the use of the resource. Direct costs attributable to a single activty are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded 8t cosc and subsequently stated at cost less any accumu18tgJ depreciation and impairment losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation le&8 any subsequent accumulated d8preciation and subsequent accumulated impaiment losses. 15
Cardlff Young Men's Christlan Association Company Llmlted by Guarantea Notes to the Financial Ststsments {coni?nued) Year ended 31 March 2024 Accountlng policles (conlthu Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less ts residual value, over the useful economic life of that asset as follows.. Improvements to Property Fixtures & Fittings Motor Vehicles Computer Equipment 20/0 and 100/0 Straight line 250/0 Straight line 200/0 Straight line 33°/0 Straight line Financlal Instruments A financial assot or a financial li8bility is re¢cgnised only when the ontity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction, where it is recognised at th8 present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt Instruments are subsequently measured at amorti88d cost. D•fin•d contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction In future payments or a cash refund. Vthen contributions are not expected to be settled wholw within 12 months of th8 end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Dabtors and credltors rèeelvablalpayable wlthln one year Debtors and creditors with no stated interest rate and receivable or payable within on8 year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Llmlted by guarantea Each member of the Board of Trustees has undertaken to guarantee the Charitls dobts to the sum of £1 each. 16
Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 t)onations and legacios Unrestricted Funds Restricted Totsl Fund8 Funds 2024 Donations Donations- General Donations - 1910 Successor Trustees 3,154 100,000 3,154 100,000 Grants Grants receivable 9,468 346,052 366,620 458,674 112,622 346,052 Unrestrictéd Funds Restricted Total Funds Funds 2023 Donations Donations- General Donations - 1910 Successor Trustees 3,908 100,000 3,908 100.000 Grants Grants receivable 284,913 284,913 284,913 388,821 103,908 Charltsble a¢tlvltles Unrestricted Funds Restricted Total Funds Funds 2024 Youth Service level agreement 128,000 128,000 Unrestricted Funds Restricted Total Funds Funds 2023 Youth Service level agreement 2,250 110,496 112,746 Other tradlng actlvltlos Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Catering 3,586 3,586 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rental income 186,261 186,261 202,483 202,483 17
Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Financial Statements {contlnu• Year ended 31 March 2024 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 other income: Recharges to YMCA Housing other incorrts: YMCA England & Wales- Profrt share 16,532 16.532 7.579 7.579 7.679 7,679 16,532 16,532 other income last year represents the recharges made to Cardiff YMCA Housing As80ciation for shared costs, in particular relating to the merger. This year represents one off monies received from YMCA England & Wales from their surplus profrts. 10. Expendltur• on charltable actlvltles by fund type Unregtrlcted Funds Restrlcted Total Funds Funds 2024 Young People's Sep4ices Plasnewydd Community Centre Support costs 101,756 182,909 42,606 486,152 9,109 587,908 192,018 42,606 327,271 495.261 822,532 Unrestricted Funds Restricted Total Funds Funds 2023 Young People's Services Plasnewydd Communty Centre Support costs 87,590 156,269 43,131 501,244 9,109 588,834 165,378 43.131 286,990 510,353 797.343 11. Expondlturo on charFtsble actlvftles by actlvlty type Activiti88 und&rtaken diredly Support Total funds costs 2024 Total fund 2023 Young People's SeNices Plasnewydd Community Centre Govemance costs 587,908 192.018 30,798 3.366 8.442 618.706 195.384 8.442 624,399 168,344 4,600 T19,926 42,606 822.532 797,343 18
Cardiff Young Men's Christian Association Company Llmlted by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 12. Analysls of support costs Young Plasnewydd People's Communty Services Centre Total 2024 Total 2023 Staff costs Premises Communications and IT General office Governanc8 Costs Support costs - Other 6,732 1,477 2,117 10,969 8.442 9,503 3,368 10,098 1,477 2,117 10,969 8.442 9,603 42,606 8,898 1,492 1,083 8,566 4,600 18.492 39,240 3,366 43,131 13. Net axpènditurn Net expenditure is stated after chargingl(crediting)'. 2024 2023 Depreclatlon of tangSble fixed assets Operating lease rentals Fee8 payable for the audit of the financial statements 24,546 18,828 4,1500 20,416 20,540 3,900 Staff c08t8 The total staff costs and amployee beneffts for the reporting period are anatysed as follows: 2024 2023 Wages and salaries Social security costs Employer contribution8 to pension plans 414,374 28,489 29,166 472,019 389,930 26,987 26,228 443.125 Stsff costs include wages recharged by Cardlff YMCA Housing Association of £33,659 (2023,. £29,658). Social security and pension costs represent those of the charity's own payroll schem8. The average head count of employees during the year was 20 (2023.. 21). The average number of full-time equivalent employees during the year is anatysed as follows.. 2024 No. 2023 Management staff Regular staff 19 19 20 21 No employee received employee benefrts of more than £60,000 during the year (2023: Nil). Key Management Personnel Key management personnel include all p8r8ons that have authority and responsibility for planning, directing and contfolling the activities of the charity. The total compensation paid to key management personnel for services provided to the charty was £33,659 {2023.. £29,658). 19
Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Financial Statements (conthuédj Year ended 31 March 2024 15. Trustee remuneratlon and expenses No remuneratron or other benefi'ts from employment with the charty or a related entty were reGetved by the trustees. No trustee expenses have been incurred. 16. Tanglble fixed assets Land and Fixtures and buildings fittings Motor vehicles Equipment Total Cost At 1 April 2023 Additions 599,865 26,959 21,652 35,915 17,329 1,349 18,678 680,068 23,001 703,069 At 31 March 2024 599,865 48,611 35,915 Depreclation At 1 April 2023 Charge for the year At 31 March 2024 63,079 13,516 76,595 22,092 6,532 27,515 4.200 17,329 297 130.015 24.546 28,624 31.715 17.626 154,560 Carrylng amount At 31 March 2024 523,270 19,987 4,200 1,052 548,509 550,053 At 31 March 2023 536,786 4,867 8,400 The cost Incurred In tho development of Plasnavrydd Centre hava bean Included as leasehold buildings additions, and the grants to fund this development fomi a restricted fund. which is being reduced annually by the depreciation charged now that the development is complete. The carrying amount of these restricted funds, included in the carrying amount of the Land and Buildings above. 18 £411,317 {2023 £420,426). 17. D8btors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 75,188 688 2,318 50,348 12,522 2,947 78,094 65,817
Cardiff Young Men's Christian Association Company Limited by Guarantee Notos to tho Flnanclal Statements fcontlnu•d) Year ended 31 March 2024 18. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes Obligations under finance leases and hire purchase contracts Other creditors 31.231 10,529 7.236 24,199 10,522 5,649 768 15,063 13,738 62.733 56,201 Included in accruals and deferred income is deferred income, as follows: 2024 2023 At 1 April 2023 Amount released to Incoma Amount deferred in year At 31 March 2024 5,000 {5,000) 5,000 5,116 (5,118) 5.000 6,000 5.000 19. Credltors: amounts falllng due after mor8 than on• year 2024 2023 other creditors 6,000 10.000 The Cardiff YMCA (1910) Trust provided a loan of £20.000 which wag repayable over 4 annual instalments of £5,000. There are 2 p8yments remaining, which have been split bebNeen due in less than and greater than one year. 20. Flnance leas89 and hlre purcha80 contracts The total future minimum lease payments under finance leases and hire purchase contracts are as fcllows: 2024 2023 Not latar than 1 year 768 21. Pensions and other post-retirem•nt benèfits Deflned contrlbution plans The amount recogntsed in income or expenditure as an expen88 in relation to defined contribution plans was £29.156 (2023: £26,228). 21
Cardiff Young Men's Christian Association Company Limlted by Guarantee Notes to the Financial Statements (contlnu Year ended 31 March 2024 22. Analysis of charitable funds Unrestrlcted funds At1 pril 2023 At31 Income Expenditure March 2024 General funds Designated funds: Contingency reserve Plasnewydd Centre devebpment Merger reserve 286,162 310,048 (327,271) 268,939 100,000 120,000 13,493 100,000 120,000 13.493 519,655 310,048 (327,271) 602,432 At1 April 2022 At31 Income Exponditure March 2023 General funds Designated funds: Contingency reseNe Plasnewydd Centre development Merger reserve 231,472 312,767 (258.077) 286,162 100,000 120,000 30,000 481,473 100,000 120,000 13,493 12,406 325,173 (28,913) (286,991) 519,655 A designated fund has been set as a contingency measure to maintain reserrfes at alovel, which is equivalent to 8 months of budgeted expenditure, this amounts to £100,000. Further designated reserves are also in place towards any ongoing capital costs relating to the Plasnewydd Centre and towards costs of the planned merger with Cardiff YMCA Housing Association. During the previous year, there was expenditure towards the legal & professional fees for the merger. part of which were recharged to Cardiff YMCA Housing Association. thereby reducing the fund. 22
Cardiff Young Men's Chrlstlan Association Company Limited by Guarantee Notss to the Financial Statements (continuedj Year ended 31 March 2024 22. Analysls of charitable funds (contlnued) Restrlcted funds At1 April 2023 At31 Income Expenditure March 2024 CCC Community Building The Waterloo Foundation Plasnewydd Centre Devebpment Vale Young Carer8 - Families First Youth Innovation Grants YMCA England & Wa18s - Y8 Girls Vale Young Carers Plan International UK YMCA England & Wale8 l All Churches Trust Cardiff Council- Young Carers Grant Cardiff CC - Families First Healthy Relationships Healthy Relationships - Children in Need YC Youth Endowment CWIJYS- Summer of Fun Vale Sexual Health Happy Days Cardiff Youth SeNice Postcode Community Trust C3SC Period Dignity Direct Food Support CWYs - Open Acce88 795 26,322 420,426 795 29,814 411,317 35,000 {31,508) (9,109) {65,500) (17,986) (56,163) (33,304> (2,327> 65,500 7,500 42,998 12,820 9.000 17,333 25,677 40,634 7,092 6,847 12,512 20,150 13.765 4,265 (4,265) (66.946} 79,201 12.256 110,000 (110,000) 10,000 (10,000) (20,101) (4,431) (19,452) (1,000) (2,500) 20,101 4,431 14,004 18,000 1,000 2,500 20,000 47,372 1,000 5,681 6,480 474,052 12,552 20,000 19,864 {27,508) (1,000) (5,681) (6.480) (495,261) 581,080 559,871 23
Cardiff Young Men's Christian Association Company Llmited by Guarantee Not8s to th8 Flnanclal Statsm8nts (¢ontlnuedJ Year ended 31 March 2024 22. Analysis of charitable funds (condnued) Restrlcted funds (¢onfinueo) At1 April 2022 At31 Incom8 Expenditure March 2023 CCC Communty Building Garfield W8Ston Foundation The Waterloo Foundation Plasnewydd Centre Development Vale Young Carers - Families First Youth Innovation Grants YMCA England & Wales - Ys Girls Vale Young Carers Plan International UK YMCA England & Wales l All Churches Trust Cardiff Council - Young Carers Grant Cardiff CC - Famllies Flrst Healthy Relationships Healthy Relationships - Children in Need YC Youth Endowment CWMYS- Summer of Fun Vale Sexual Health 795 7,052 41,819 429,535 6,000 24,785 18,417 81.466 7,144 795 (7,052) (15,49n (9.109) (71.500} (22,452} (33,454) (65,772) (52) 26,322 420.426 65,500 15,000 40,714 24,940 17,333 25,677 40,634 7,092 8,670 11,645 (4,405) (119.424) 4,265 107,779 36,302 110,496 (146,798) 10,500 (10.500) (2.293) (1,049) (996) (510,353) 22,394 20,101 4,431 14,004 581.080 5.480 15,000 696,024 395,409 Cardiff Cty Council Communty Building grant income vras received as 8 contribution towards the costs of improving the second floor at The Walk, including the installation of a disabled toilet and a new kitchen. Garfield Weston grant fvnding was received towards the Young Carers project. The Watorloo Foundation grant was received towards the YMCA Young Carar project. Plasnewydd Centre Development consists of the following ¢apit81 grants received for the construction and development of the centre.. Phase 1: Cardiff YMCA (1910) Trust The Clothworkers. Foundation £10.000 £25,000 £150.000 £2,000 Phase 2: The Moondance Foundation G C Gibson Phase 3 (grant received year ended 31 March 2019): Cardiff Council The Tudor Trust Joseph Strong Trust Glamorgan Voluntary Services Cardiff YMCA (1910) Trust Phase 3 (grant received year ended 31 March 2020): Hodge Foundation Cardiff County Council CardfftYMCA {1910) Trust Now Phase 2 and 3 construction work has been completed the grants are reducing annually by depreciation charges. £30.000 £50.000 £1,000 £7.450 £40.000 £100,000 £10,000 £30,000
Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Financlal Statements fcontinued) Year ended 31 March 2024 22. Analysls of charitable funds (continu The Familie5 First- Vale Young Carers grant was received towards salary costs and project costs for young carers. Cardiff County Council - Youth Innovation Grant was received for youth work in the Plasnewydd, V¥hitchurch and Radyr areas. YMCA England & Wales provided grant funding towards the salary cost8 of a mentor for the Y's Girls proj8Ct. Vale Young Carers grant was received toward5 salary costs and project costs for young carers and additional residential activities. Plan International UK grant was received for the salary costs of th8 Young Carers Ivorker for the Test & Leam Boys ProjecL The YMCA England & Wales and All Churches Trust grants were received to help transfomi the Mental Health for Young People. The Cardiff County Council Young Carer8 grant Wa8 recelv8d to provide support for Young Carers. Th6 Cardiff Council Families First grant was r8celv8d to provide Support and advice to schools. BBC Children in Need grant funding was received to fund th8 salary of a Healthy RelatnshIpS Project Work8r. Youth Endowment Fund grant was received to delivery and support young people at risk of youth violence. Council for Wales of Voluntary Youth Servlces (CWbYS) provided funding towards the Summer of Fun project. Vale of Glamorgan Council provided funds under a service level agreement towards the C£ard servic8, supporting better sexual health. Happy Days Charity provided mon8y towards attendance at the Vkles Young Carers Festival. Cardiff Youth Service provided funding as part of the Children & Young People Wellbeing Activities Programme. Project funding was received from Postcode Community Trust tovrfards the development of a Communal Garden. C3SC monias support the Shaping Our Future Wellbeing Strategy. In conjunction with Cardiff YMCA Housing Association, Period Dignity grants wer8 received from Cardiff Council to support related purchases. Cardiff Council also provided funding for the Direct Food SupF))rt Grant Programme. Council for Wales of Voluntary Youth Services (CWVYS) also provided funding towards meals for young people. 25
Cardiff Young Men's Christian Assoclatlon Company Limited by Guarantee Notes to the Financial Ststements (Cl11nU8dj Year ended 31 March 2024 23. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net apAets 136,397 433,768 (62,733} (5.000) 502,432 412.112 147,759 548,509 681,527 {62,733) <5,000) 1.082.303 559.871 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Curr8nt ass8ts Creditors less than 1 year Creditors greater than 1 year Net a880ts 128,833 457,023 {56.201) (10.000) 519,855 421,220 159,880 550.053 616.883 (56,201) (10,000) 1,100.735 581,080 24. Anatysls of changes In nét debt At At 1 Apr 2023 Cash 31 Mar 2024 Cash at bank and in hand Debt due within one year 551,066 (768) 550,298 (47,633) 768 503,433 {46,865) 603,433 26. Rolated partle8 The Chief Executive Mr A T8mp18ton took ov8rth8 Position as th8 Chief Executive of Cardiff YMCA Housing Association from February 2018 and has a du81 Chief Executive role for both organisations. During the year, the charity received £37,567 (2023: £53,191) from Cardiff YMCA Housing Association in relation to rental and other recharges and was charged £112,587 (2023: £102,145) from Cardtff YMCA Housing Association for premises costs and management fe88. At the year-end an aggregate balance of £25.368 {2023: £4.485) was due to the YMCA Housing Association from the charity.