COMPANY REGISTRATION NUMBER: 08151495 CHARITY REGISTRATION NUMBER: 1155885 Cardiff Young Men's Christian Association Company Limited by Guarantee Financial Statements 31 March 2025 CARSTON ETL Chartered accountants & statutory auditor 1 st Floor, Tudor House 16 Cathedral Road Cardiff CF119LJ Cardiff Young Men's Christian Association Company Limited by Guarantee Financial Statsments Year ended 31 March 2025 Page Trustees, annual report (incorporating the directols report) Independent auditorfs report to the members Statement of financi818ctivitie8 (inclLKling income and expenditure account) 11 Statement of financial position 12 Statement of cash flows 13 Notes to the financial statements 14 Cardiff Young Men's Chrlstlan Association Company Limited by Guarantee Trustees. Annual Report {Incorporatino the Directorfs Report) Year ended 31 March 2025 The trustees, who are also the director8 for the purposes of company law. present Iheir reF)0rt 8nd the )Inan¢ial statemenls of the tharity for th8 year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DEfAIL8 Registered Gharlty name Cardiff Young Menb Ch￿st18n Asso(iafjon Charlty réglslrallon numbor 1155885 Company reglslration number 08151495 Prlnclpal offlce and reglstored Cardff YMCA office The Walk Roath Cardiff CF24 3AG The trustees Mr D Cole8 - ChairpgfBon Mr D Joyce Mrs E Powell Mr A Farah Ms A Johnson Ms HS D¢yJoo Ms J Green Miss MH Wllllams Mr O AJ8yI-Obanaw Ms R Wooley Mr ZJ Amold Rostyed 31 March 2025 Reslgned 31 March 2025 Resigned 14 Octob6r 2025 Re&￿ed 9 Saptember 2025 Company Mcretary Andrew Templeton Auditor Carston ETL Chartered accountants & statutory audlor 1st Floor, Tudor House 16 Cethedral R08d Cardiff CF119U Bankers Uoyds TSB Bank pl¢ 14 The Globe Centre Wellfield Road Roath Cardlff Solicitors Morgan Cole Bradloy Court Park Place Cardlff CF13DP Cardiff Young Men's Christian Assoclatlon Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Directorfs Roport) (owthu•dJ Year ended 31 March 2025 OBJECTIVES AND ACTIVITIES The INstees confirm Ihat they have complled wlth the duty In Section 4 of the Charitles Act 2006 to have due regard for the Charity Commlsslon's guidance on public benefit. Summary of chariws oblects The objocts of th8 a8s0clatlon arlse from its acceptance of the Paris basls of 1855 Incorporated into the natlonal statemenl of the ainB and purposes of the YMCA In Wales. adopted as part of these articles namely: Yhe YMCA Is a wOrtd￿ Chrlst18n, ecumenlc81, volunt8ry movemert forpeOe with si￿181 emphasls on the genuine involvement of young peO￿e and that It Seeks to share the id881 olbuikllng human communlty ofJu8llae wth lov8, p88ce 8ndreconolial￿n for the fullness of life for 811 creallon" 11 wèleom88 Into Its felk>wshlp perso￿ of all rellglous fafths and of none. In acGordanc8 wfth Its Chrfsllan values the YMCA stands for: worldwide fellowship based on the equal value of all persons: respect and freedom for all, tclerance and understandin9 belween people of dlfferent oplnlons; and adlve concern for the needs of t￿ communlty. As lh8 expr888lon of Sts Chr18tlan purposes the YMCA alw£ to". provlde a welcome to Its m8mb8rs for them8elv88 In 8 me8tlng place whlch Is thelfs to share, where friendshlps can be mad8 8nd coun861 Bought; develop activltles whSch stlmulate and challenge members In an envlronment that enables them to take respon3lbllity to find a sénse ol achlavement; Involve all members In the care and work for others: and creale opporlunitie6 for exchanglng vlews so that members can Improve their understandlng of the world, of themselves and of one another. Accordlngty, the objects of the a860aatlon are: to provlde or asslst In lh8 provision Sn the Inleresl of social wélfare of facllltlès lor resldentlal or recreational use and other lelsure ttm8 0￿upatIon for men and women wlth the oblect of Improving thelr condition of Ilfe; to provide or asslsl in the provlslon of educatlon for persorr8 of all ages with the object of developlng thelr physlcal. mental and splrllu81 capaclty.; and to relleve or assisl In the rellef of persons of all ages who are In condltlons of n8ed, hardshlp or dlstress by reason of thelr sodal, physlcal or economic circumstances. Whllst we provlde Inter-generallonal servlces for Ihe whole wmmunity, the prlorlty Ss young p8ople. particularfy In Ilmes of need. Allhough the origins of our organisat¢on come from a Chrlstlan basls, we welcome people of all falths and beSets and of none lo use our ser4ic8s. We are an organlsallon that values divetslty and promotes equal opportunlties. Stratsgy for achlevlno the objects The charity contlnues to fun support programmes across Cardiff and the Vale of Glamrgan. Its focus romains on supporting young carers, generlc youth work and sexual health awareness and educatlon for young people. W￿h1n the yeer, it has also worked strateglcalty vAlh Its partner organisation, Cardiff YMCA Housing Association to stsrt housing support programmes for unaccompanied esylum seekers 8r¥J wK)re generally, young people at rfsk of homelessness. Cardiff Young Men's Christian Association Company Llmited by Guarantee Trusteès. Annual Report (Incorporating the Directorfs Report) (eonunu Year ended 31 March 2025 Objectives and activltles (wthw*d) The current strategic ￿an for the chaiity is now In its second year (2024-27). Whllsl economic and fundlng uncertainty remains, the charity remains conNnitted to Its merger wlth Cardiff YMCA Houslng Assoclation. This merger will not only strewth8n its finanrial rg5ilienGe, Lwt also provide It with Reglstered Social Landlord status, that wlll transfer ov8r to the charity wlth the merger. &mrlarly, the charity remalns engaged wlth a broeder strategic di8cusslon around the YMCA movement aGiOSS Wales and how besl to malntaln the YMCAS charitable footprint and impact acro86 the country. Strategic report The following secllons for achl8vem8nts and performance and financial revlew fonn the Strategic report of the charfty. ACHIEVEMENTS AND PERFORMANCE Ov8r the past 12 months, the ¢h8rfty has malntalned Its work In the fields of young ￿rers, sexual health, gender equ8lrty projects end youth work. These malnstay projeds contlnue to provlde ongoing support or those at risk or rnost vuln8rabl8 across Cardiff and the Vale of Glamorgan. In addition, the charfty's sodal enterprfse ami, YMCA Plas continues lo operate succes5fulty and serve the needs of the local communty and young p8oplg in the area. Durlng the year, the charfty successfully retalned Welsh Govornm8nt Youth Work QualSty Mark IBfonz8 award) alongslde Its exlstlng Sllver and Gold awatd8. Through Its partnetshlp with Cardiff YMCA Hou8lng Assoclatlon, where It supports young people 81 rfsk of homele88n88S, the charfty now 8UPPOrts young unaccompanled 88ylum saekers across Cardlff. Thls has resulted In houslng and youth work P￿pport combinlng to 8UPPOrt th050 at rlsk of hom8lessnes6 In the clty In YMCA 8ccommodation as well as In our convnunlty centro. It16 hopad more 8uch projects can start Sn th8 naar futuro. YMCA Cardiff, through Its CEO and board contlnues to play 816adlng role In the contEnued development of YMCAS across Wales. After 8 years at the helm of chgiring YMCA Cymru megtSngs, Its CEO stepped down frorn thls ro18 durlr¥J the year to focus more on the day-t(Hlay work of YMCA Cardlff. YMCA Cardlff however ierrthin3 8 key player In the Welsh YMCA movement. Further work has been undertaken by both YMCA boards durtng the year on the merger of both YMCA8. The risks hlghlighted last year In the housing sector on EICR r818ted issues have now been 18rgely resofved. It 18 therefore expected that this merger, following final Financial Conduct Authoiity {FCA) approval wlll be finaksed from 1 February 2026, finally creating a unified YMCA Cardiff. FINANCIAL REVIEW F5nanGlal Position - revlew at the end of the reporting period Totsl Income for th8 year was £737.422 (2024: £784,100). Thg main source of income Is donatlons and grants received whlch amounted to £415,21212024.' £458.674). Other sources of incom8 relate to the service level 8greements and Investment income from rental of room hire elc. The amount of total expenditure for th8 year was £796.04812024-. £822,532). There has been an increase In wag88 costs and youth activity costs resufting from an increase in funding reG8ived forthose seNlces. Total n8t exp8nditur8 and net movement in funds amounts to £58,626 (2024: £38,432). Cardlff Young Men's Chrlstian Assoclation Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Directors Report) (eonthuad) Year ended 31 March 2025 Flnanclal revlew (Conffn￿ Reserves Pollcy It 15 the policy of the Charlty to mak8 a small surplus 8ach year. This provides $ufficlent fvnds to cover management, adnlnlstratlon and support costs, together with any exceptional or unplanned expenditure. The financial reserves Set aside since the formtion of the Charlty wovlde finandal stabllKy ond the means for the development of the Charity's actlvitles. At the year end the re8eTves p08hlon18 as follows: Unrestrtcted reseNa8 Designated reseNes Restrlctsd reserves £268,332 (2024: £268,939) £233,493 (2024: £233.493) £501,8S2 P024: £559.871) Unrestrf(aed free reserves amount to £148.380 (2024: 132,$42). A designated fund contlngency res8rvo has bean set up by the trustees as a contlngency measure lo maSntaln reserves at a level, which 55 8qulval8nt to 6 llK)nths of budgeted exp8ndlture, which is approximately £100,000. There are also further deslgnated reserves of £120,000 for any further Plasnewydd deVelopn￿nt ca￿tal costs and £13,493 lowards the rnergoT. The total amounl of deslgnated reserves are £233,493 (2024: £233,493). R88trlcted r888rv8s Include Plasnewydd Centre devek)pment grants of £402,208 (2023: £411,31n. An amount of £580,883 has been expended to date and c8rAtalised 88 land and bulld5ngs. The r88eNe wlll reduce annually by a depreclatlon charge now constructlon has bean fulty completed. Brl•f Yevlew of tho chawity's flnanclal posltlon Sufficlent funds are avallable to ensure that Ihe Charlty wlll continue in operatlon foi the for888oable future. Rlsk Management The Board of Dlrectors actlvely revlew the major rlsks whlch the Charlty faces on a regular basls and belleve that malntalnlng reserves at current levelg. comblned with an annual revlew ofthe controls over key financlal systsms, wlll provlde sufflclenl fesourc88 In the event of adverse conditions. The Board of Dlrectors have atso examlned other oper8tlonal and business rlsks faced by the Charlty and confirm that Ihey have establlshed 8yStems to mitlgate the slgnifiGant rfsks. PLANS FOR FLITURE PERIODS The charlty Is commltted to post merger consofidatlng Its new unifjed ststus and ènsurlng all 8eNlce areas remaln unaffected. A revigw of its core alms and obiecliv86 will follow throughout 2026 as wel as a refresh of the charlty's Jrrent strategic plan, scheduled to run through to 2027. The charfty Intends lo Continue to grow its housing stock and seNice programmgs to Gonlinue to adapt the ongoing needs of the communities and people it 88tve8. Cardiff Young Men's Christian Associatlon Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Directo¢8 Report) (￿OnU￿dj Year ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The predOCOSBOI charity, Cardlff YMCA, was formed in 1844 and reglstered as a charlty on the 30 December 1966. The Cardiff Young Men's Christian Associalion was Incorporated on 20 Juty 2012 urKler the Companies Act 2006 and registered as a charity on 21 February 2014. It slarted to operate on Ihe 1 ApTII 2014 haviThJ taken over the assets, liabilities and activities of the predecessor charlty. Whltst the YMCA now has a new char6ty number and legal structure, the remlt of the organlsatlon and Its work remains unchanged. The Cardiff Young Men's ChrfS￿8fi Assoclalion Is a tharitable company Ilmlted by guarant66 and as such Is governed by o memorandum and articles of assoclation. R•crultsThnt and appolnknent of Trustoes Tha Board of Director3 are also Chatlty Trustees for the pufposed of charity law. Under the constltutlon, the Chalrperson 8hg11 normally seNe for a fflaxlmum period of five consecutlve years. Each year one thlrd of the el8Cted memb8ts of the Board shall retire In rolation according lo 8enS0rity of holdlng office at th8 Annual Bu8ln688 Meellng and are effgible for re-electlon. Organisation 3tru¢tur• The Cardlff YMCA dlrectors also the charfty trust888, arelggalty responslble for the overell m8nagem6nt and control and meet al least 10 tlme5 per yeai. The work of implements.ng most of thelr polScle8 Is carded out by the members of the FlnanGe Committe8 and the Chlef Executlve, who megt as and when requlred. The day to day running of the Ch8rfty Is delegated to the Chlaf Execufjve who attends all Board m8elSng8 and sU￿cOMmIttee Meetlng8. Ev•nts aft•r th• end of tho r•porting p•rlod Particularn of events 8ft&r the reportlro date are detalled In note 24 to the finandal statements. Trusleos. responslbllltles slatsm8Dt Th8 tru8te8s, who are also dlrector8 for the purposes Of company law, are responslble for preparlng the trustees, report and the finandal 8tatemenls In accordance wlth appllcatAe law and Unlted Klngdom Accountlng Standards {Unlted KSngdom Generally Acceptsd Accounling Pr8dlce). Company law requlres the charfty trustees to prepare fin8ncial stalements for each year whlch gNe a true and falr view of the stste of aff81rs of Ihe cha￿able company and the Inconlng resources and appllc8tlon of resources. Includlng the Income and expen(￿(Ure, for that perfod. In preparfng these ffn8ndal stalem8nts, the trustees are requlred to: select sultable accounting policles and then apply them consl8t8nty; obs8Ne the methods and prindples in the applicable ChawStles SORP 2019 (FRS 102); make Judgments and accounting estimates that are reasonable and Fxudent: state whether app￿cable UK Accounling Standards have been followed, subjeGt to any material departures disdosed and explain8d in the financial State￿￿nts. prepare the financial statements on the going concern basis unless It Is Inapproprlate lo presume th8tthe th8rity will continue in buslness. Cardlff Young Men's Christian Association Company Limitsd by Guarantse Trustees. Annual Report (Incorporating the Directorfs Report) (conthu•d) Year ended 31 March 2025 The trustees are responsible for keeping adequate accountlNJ we￿rdS that are suffident to show and explain th8 charity& tran8aclrons and disckjse wlth reasonable aGuJracy at any time the financial posltlon of the charlty and enable them to ertsure that the finandal st8t8ments compty wlth the Companies Act 2008. Th8y are also responsible for safeguardlNJ the assets of the charity and hence for taklng reasonable steps for the prevention and deteclion of fraud and other itr8gulariti8s. Each of th• persons who f8 a trusts8 at the dats of 8￿roVal of thls report confinm Ihat: so far as they are aware, ther• 18 no relevant a￿lIt Info￿natIon of whlch the Charity￿ auditor Is unaware; and they have taken all steFe that they oughl to have taken as a tru8t8e to make thewBelv6s av￿re of any relevant audlt Infor￿tIon and to establish Ihat the charftyb audltow Is aware of that infomiatlon. Audftor The 8udltor18 deemed to have baen re-appolnted In accord8n¢o With sectlon 487 of tha CompanleG Act 2006. The ttu$tees' annual report arml the strateglc report were approved on 11 Novembor 2025 and slgned on behalf of the board of trustees by: Name... Cardiff Young Men's Christian Assoclation Company Limited by Guarantee Independent Audltorfs Report to the Members of Cardiff Young Men's Christian Association Year ended 31 March 2025 Oplnlon We have audited the financlal ststeff£nts of Cardiff Young Men's Christian Associalion (the '¢haritable company? for the year ended 31 March 2025 which comprise the statement of finan(xal acliviti8S (Includlng income 8nd expenditure account), statemenl of financial position, slatem8nt of cash flows and the related notes, Includlng a summary of slgnlficant accounling policles. The finandal reporbng framework that has been applled In their preparation is applicable law and Unlted Kingdom Accounting Standards, Including FRS 102 Tha Flnancial Roportlng Standard applicable In the UK 8nd Republic of Ireland (Unlted Kingdom Generally Accepted AGcourttlNJ Practice). In our oplnlon the financSal statements: give a true and f8lr vlew of the state of thè chsrltable compeny's 8ffalrs as at 31 M8rch 2025 and of Its Incoming resources and appllcatlon of resources, Includlng Its Income and expendlture. for the y8ar then endad; have been properly prepared In accordance wllh Unlted Klngdom Generally Accepted Accounting Practice; have been prepared In accordancg wlth the requlrements of the Companies Act 20C6. Basls foropinlon W8 conducted our audlt In accordance wlth Intemational Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our responslbS1itles under those standard8 are further descrfbad In the a￿lItorS responsStAlitles for the audtt of the financial statements section of our report. We 819 Independent ofthe ch8rft8ble company In a¢￿[dance wlth th6 ethlcal requirenwnts that are relev8nt to our audlt of the financlal statements In the UK. Including the FRC'8 EthIc81 Standard, and we have fulfilled oui other ethical responslkn'lllles In accordance with these requirements. We belleve Ihat the audlt evldence we have obtain8d Is suffident and approprfate to provide a bas18 for our oplnlon. Conclu$lon$ rnlating to golng concern In audltlng the fjnanclal stst8mentS, W8 have concluded that the trustees, use ofthe going concem basf8 of accountlng In the prep8relion of Ihg financSal statements 18 approprlate. Based on the work we have performed, we have not Identified any fnaterial unc8rtalnlles relating to events or corKlStlons that, IndSvlduglly or collectfvety. may cast slgnfficant doubt on the charltable companys ability to contlnu8 as a going concern for a period of at least hyelve months fromwhen the financial slatem8nts are authorfsed for Issue. Our responslblltles and the responsibilities of the trustees wtth respecl to going concern are described In the relevant sections of this report. Other infonnallon The other informatlon comprises the information included In the Irustees, annual report, other than the fjnanclal statements and our 8uditorfs report thereon. The trustees are responsible for the olher Information. Our opinion on the financial statements does not cover the other informallon and, exce0 to the extent otherwise explicitly stated in our report, we do not express any ft)rm of assuran￿ conclusion thereon. Our responsibifity 15 to read the other informatlon and. in doing so, conslder whether the other Information is mateiialty Inconsistent with the financial statements or our knowledge obtained In the course of the audlt or otherwlse appeers to be rnaterially mlsstated. If we klentlfy such maleii81 Inconsistencies or apparent mterial nlsstatements, we 8re requlred to determine whether this giv85 rise lo a material misstatement In the financial statements thomse￿e8. If. based on the work we have performed, we conclude that there is a material mISstate￿nt of thls other Information, we are required to r8POrt that fact. We have nothlng to report in this regard. Cardiff Young Men's Christian Association Company Limited by Guarantee Independent Audltor's Report to the Members of Cardiff Young Men's Christian Association (¢onllnu8d) Year ended 31 March 2025 Oplnlons on other matters prescrlb•d by th• Companles Act 2006 In our oplnion, based on the work undertaken In the couTre of the 8udlt; the Informakn'on given In the truslees, report for the financlal year for which the flnanclal statements are prepared 18 consSslenl wlth the financlal statements,. and the trust888' report has been prepared In accordance vrtth appflcable legal requlrements. Matters on whlch we arn requlred to report by exceptlon In the light of th& knowledge and Unde￿￿ndIng of the charftable company and Its envlronment otknln8d In the course of the audit, we have not Identlfied materfal mlsstatements in the trustee5' report. We have nothlng to report In rospect of the followlng matters In relatlon to whlch th6 Companles Act 2c￿8 requlres US to report to you If, In our opinion: adequate accountlng records have not been kep( or ratum$ adequate for our audlt have not been received from branches not vlslted by us; fx the flnanclal stalements are not In agre6m9nt wlth tho accounting records and return8', or certain d16¢1osure6 of truste88' remun8fBtlon 8pedll8d ty18w are not m8d8; or we have not recelved all the Information and explan8tlons we r8qulre for our audlt. thè truste8s wer8 not antltled to prepar8 the flnand818tstements in accordence wlth the sm811 companles reglme and take advantage of the small companles. exenwlons Sn preparlng the dlmctors. report. Responslbllttles ot trust••s As explalned more fully In the trustees, r8sponslbllit5e8 Statement, th8 trustees (vtho are abo th• dlrectors forthe PUTposes of company law) are responslble for the piepar8llon ofthe financlal $18tements and for being sat16fied that they give 8 true and falr vlew, and for su¢h Intemal contiol as the Iruste88 delermine18 necessary to enable the prepaiatlon of financial *tements Ihat are free from matertal mlsstalemenl, whether due to fraud or error. In preparfng the Ilnano181 statements, the trustses are responslble for a88e38lng the th8rftable conyanys ablllty to continue as a golng concem, dlscloslng, 88 8pplcebl8, matters relat8d to golrKJ concem and using the going concern b8sfjs of accountlng unless the trustees either inlend to ￿qUIdate the charity or to cease operatk)ns. or have no reallsllc 8lteinallve but to do so. Audltorfs responslbilitie5 for the audlt of the financlal statements Our objedves are to oblain reasonable assurance about whether the financlal statements as a whole are free from materfal mi5Statement, whether due to fraud or error. and to issue an audltor's report that Includes our opnion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always detect a materlal nlsststemenl when tt exlsts. Mlsstatements can arfse from fraud or e￿or and are considered mterial if, Indlvldualty oi in the aggregate, they coukl reasonabty be expected to Inthence the econonic decisions of users taken on the basis of these financial slatements. Irregularftles, Includlng fraud. are Instances of non-CO￿lIance with laws and regulations. We identified and 8SS8ssed the rlsks of material misstaterrent of the financlal statements from Irregularltles. whether due to fraud or error, and discussed these between our audit team merTkners. We then deslgned and perfom7ed audlt procedures responslve to those risks, includlng obtaining audlt evklence suffidanl and atpropriate to provide a basis for our opinion, Cardiff Young Men's Chrlstian Assoclation Company Llmited by Guarantee Independent Auditor's Report to the Members of Cardiff Young Men's Christlan Associatlon (withiu8dJ Year ended 31 March 2025 We deslon our procedure5 so a5 to olAain suffldent appropriate audlt evldence Ihat the fjn8nclal stalements are not materially ￿lS81ated due to non-complance wlth laws and regulalions or due to fraud or error. We ar8 nol responsible for prevenllng non-compll8n¢e aNI cannot be expected to detect non- comk*'8nc8 wlth all18ws and regulatlons - Ihls responslblllty Iles wlth management wlth the overslght of the Trustses. Based on our understsnding of the charltable company and th8 charfty seGtor, dlscus8lons wlth m8nageThnt and trustees we Identlfied financlal reportlng siandards, Charities Act 2011 and Companies Act 2006 88 havlng 8 dlrect effect on Ihe 8mounts and dlsclosur88 In the finan¢l81 Stalements. As part of the engagement team dlscussion about how and where the charltable cony)any's finandal statements may be materfally wi8Stated due to fraud. we dld not Identify any ar888 YAth en Increased Tlsk of fraud. Our audtt procedure8 Included: complellng a rlsk-8SBe8sment process during our plannlng for thls audlt Ihat speclfically consldered the rfsk of fraud. enqulry of management about the charitablg company'8 polldos, procedures and related controb regardlng Gompliancg wlth laws and iegulalions and If there are any known Instances of non- compllance; examinlng supporting documents for all materlal balanc88, transactions and dlsclosures,. enquiry of management, about Iltlgatlons and dalms and InspectIon of relevant correspondence. analytical procedures to identrfy any unusual or unexpected r8latlonships; speclflc audlt testing on and review of ar888 that could be subject to management overrid8 of controls and potentlal blas, most notably around th6 key judgments and estlmates, Includlng lh8 carylng value of accruals, provlslons. grant maklng and revenue recognilion; conslderino management Ove￿Ide of controls oulslde of the normal operatlng cycles Includlng testing the approprl8t8ness of Joufnal 8ntrles recorded In the general 18dg8r and other adjuslments made In the preparation of Ihe financl818latements including evaluatlng the ratlonale of slgnlllpAnt transodlons, out85de the nomal course of ¢harltable athity. BeGause of the inhèrent li￿tal￿On8 of an 8udlt, there18 a rl8k that we wlll not d&tecl all Irregularltles, IndudirvJ those leadlng lo a matethal mlsstatement in the financl818latements or non-complance wlth regulation, This risk Increases the more that compllence wlth a law or regulation is removed from the events and tf8nsactlon5 reflected In the flnanclal statements, as we will be les8 likely to become aware of instances of non-compllance. The rlsk 1$ also grealer regatdlng IrregUla￿tIeS occur￿ng due to fraud rather than error, as fra￿1 Snvolv88 Intenoonal concealment, forgery, colluslon. omlsslon or mlsrepr8sontatlon. As part of an audit In accordance wllh ISAS {UK}, we 8x8rctse profe&8lonal judgment arKI malntaln professlonal scepticism throughout the autht. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design 8nd perform audlt procedures responslve to those rtsks, a￿1 obt8ln audit evid8nce that is sufficient and appropriate to provide a basis for our oplnlon. The risk of nol detecting a materlal misstalement resulting from fraud is higher Ihan for one r8sulting from error. as fraud may involve collusion, forgery, intentional omisslons. misr8presentations, or the override of internal control. Obtain an understandlng of Intsrnal control relevant to the audit in order to destgn audlt prc¢edures that are appropriate in the circumstances, but not for the purpose of expressing an oplnlon on the effediveness of the Intemal control. Evaluate the appropriateness of accounting pollcles used and the reasonableness of accounting gstlmates and related disclosures made by the trustees. Cardiff Young Men's Christian Association Company Umited by Guarantee Independent Auditorfs Report to the Mem￿r5 of Cardiff Young Men's Chrlstian Association fr¢inllnu•dJ Year ended 31 March 2025 Conclude on the appropriateness of the trustees, use of the golng concem basls of accountlng and, based on the audit evidence obtained, whether a materlal uncertalnly exists relat8d to events or conditions Ihal may cast signlficant doubt on the ¢haritable company'5 ability to conllnue as golng concern. If we conclude that a materlal uncertainty exlsts. we are required to draw atlenlion in our audltor% report to the related disclosures in the financlal statements or. rf such disclosures ar8 inadequate. to mcxllty our opinion. Our condusions are based on the audit evidence obtained up to the date of our eurfrtorfs report. How8vew, future 8vents or condltlons may cause the ch8rltable company to ce88e to continue as a golng COn￿rn, Evaluate the ovarall presentation, structure and content of Ihe flnancial ststements, Induding the disclosures, and whelher the financial Gtatem8nts represent the undertylng transactions and èvents In a manner that achl8V8s f8Sr presentation. We communlcate wSth those charged wlth govemance regarding, among oth8r m8tt8rn. the p18nn8d 8cope and tlmlng of the audlt and slgnlficant audit findings. Includlng any signlfic8nt defjdendgs In Internal control that we Id8ntlfy du￿ng our audlt. of our report Thls report Is made solety to the charitab18 company's rneMbe￿, as a body, In accordance With Chaplar 3 of Pert 16 of the Corrp8nles Act 2006. Our audlt work has been undertaken so that we nlght slate to the charltable company's rn6mbe￿ those rffttt8￿ we 818 reqthred to stal8 to them In 8n auditof8 report and for no other purpose. To the fu1188t extent pern￿tted by law, we do not aCC8Pt or assume responslblllty to anyone other than the chfirltable company and the charltable company% members as a l￿dy, for our audtt work, for thls Teport, or for the oplnions we have fomed. FarL8na Ahmed (Senlor Statutory A￿ltor> For and on behalf of Carston ETL Chartered accountants & 8tstutory audltor 1 st Floor, Tudor House 18 Cathedral Rood Carthff CF119U Datad:oulii 10 Cardlff Young Men's Chrlstian Assoclatlon Company Limited by Guaranteo Statement of Financial Activitle8 (Including income and expenditure account) Year ended 31 March 2025 2025 Unreslricted Restrfcted nds funds Total fvnds Totsl funds 2024 Note Income and endoMnents Donations and legacies Charltable activitles other trading activitle8 Investment income other income 173,059 242,153 140,000 415,212 140,000 458,674 128,0(K) 3,586 186.261 7.579 175,133 7,077 355,269 176,133 7,077 737,422 Total Income 382.153 784,100 Exp•ndStur• Expèndlture on charitable actlvllles 10.11 Total 0x￿nditUrft 355,878 355,876 440,1T2 440,172 796.048 822.532 822,532 796,048 Net •xp•nditure and net movement In funds {807) (58,019) (58,626) (38,432) Reconclllatlon of funds Total funds brought fopward Tolal funds rArriod forward 502.432 559,871 501,852 1,062,303 1,003,677 1,100,735 1,062,303 501,825 The ststement of financlal actlvltles Includes all galns and10&88s recognlsad In the year. All Income and eXPe￿IltUre derlve from conllnulng 8Ctlvitla5. The notes on pages 14 to 27 form part d these flnan¢lal statements. 11 Cardiff Young Men's Christian Association Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tanglble ￿ed assets 16 524.975 548,509 Currnnt assets Debtors Cash at b8nk and In hand 17 74,396 465,013 539.409 78.094 503,433 581,527 Cr•dltors: amounts falllng du• wlthln one year Not cumt assets 60,707 62,733 478,702 518,794 1,003,677 1,067.303 Total ass•ts I•M ¢Ufr•nt Ilabllltios Creditors: amounts falllng due after more than one year N•t assets 19 5,000 1,062,303 1,003,677 Funds of the Gharlty Restricted fvnds Unrestrlcted funds General fund8 Designated funds 601,852 $59,871 268.332 233,493 268,939 233,493 502,432 1,062,303 501,825 1,003,677 Tolal charlty funds 21 These finandal statements were approved by the board of trust888 and authorlsed for Issue on 11 November 2025, and 8r8 slgned on behatf of the board by: Int Name JIÉL Q)&S_- prtnl Nam• Tru6ta• Tru8teo Company Réglstration Number. 08151495 The notes on pages 14 to 27 form part of these flnan¢lal statements. 12 Cardlff Young Men's Christlan Association Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng actfvlties Net expendlture 1SB.626) 138,432) A¢uJlments for.. D8preGl8llon of tanglble fixed assets Investrnent rental Incorne Interest payable a￿1 slmilar charges Accrued expenses 23,534 24,545 1175,133) (186,261) 113 12,007 3036 Ch8nges h.. Trade and other debtors Trad8 and other credltors Cash genorated from operatlons 3.698 124277) 110.462> 2,293 (213,563) 1210,012) (113) 188,281 (23,884) Intsr•81 pald Inv8strnent rental Income 175,133 (38A20) Net ca8h u88d In operatlng actlvrtles Cash flows Irom In￿stIng actlvitles Purchase of tangibla asse18 Net cash used In InvestlNJ aclvltie8 (23,001) (23,001) Cash Ilows from financlng act1v1t￿9 Payments of fln8nce lease Irabllities Net cash used In financlng activitie8 (7e8) (768) Net decrease In cash and cash equlvalents (38N20) (47,633) Cash and cash equlvalents al I￿innIng of year Cash and cftsh equlvahnts al end of year 503,433 466,013 551,1)66 503,433 The notes on pages 14 to 27 form part of these financlal statements. 13 Cardiff Young Men's Chrfstian Association Company Limited by Guarantee Notss to the Financial Statements Year ended 31 March 2025 General infomiatlon The charity is 8 public benefft entity and a wivate company fimited by guarantee. re9iStered In England and Wales and a registered charity in England and Wales. The address of the registeied office is Cardiff YMCA, The Walk, Roath, Cardiff. CF24 3AG. 8tatoment of compllance These financlal statements have been prepared in compllance wlth FRS 102, 'The Flnancl81 Reporting Standard appllcabl8 Sn the UK and the Republlc of Ireland,, the Statement of Recorrrnended Practice applcabl8 to chariti88 pT8pa￿ng their accounts in accordance with the Fln8ncial Reporting Standard appllc8ble In the UK arKI Republlc of Ireland (FRS 102) (Chartttes SORP (FRS 102)) and the Companles Act 2006. Accountlng pollcl•s 8asls of pr•paratlon Tha financlal 8tatsm8nts havo boen prepared on the hlstorlcal cost basls. The financl81 statements arè prep8red In $ter￿ng, whlch18 the funclion81 currency of the entity. Golng concern After maklng raasonable enqulri88 and havlThJ consldered th8 Impact of various factorn on the financlal performance of the ch8rlty 8nd Its ourrent perfonnonce, the Trustee's belleve that tha cha￿ty wlll be able to contlnue to fuffil Its charltabl8 purpose, wlll be 8bl8 to meet Its lablllti8s as they fall due, and wlll have 8dequ8te r88ources to contlnue In operatlonal exlstence for the for888e8bl8 future. Accordlngly, the trustees conlnue to adopt tho golng concam ba818 In preparing tho financlal 6talom8nts. Judgemenls and key som￿e$ of estimatlon Un￿rtaInty The prep8r8llon of Ihe financial stslements requlre8 maftage￿nt to make Judgements, eGtlm8tes and as6umptlons that affect the amount8 reported. These estimates and Judgements are ontlnually revlewed and are based on experfence arKI olher factors, IncludSng axpect8tlons of future events that ar8 belleved to be reasonable under the drcumstances. Fund accountlng Unrestricted fuThJs compr18e aGGumulated surpluses and defldts on genar81 funds that are avallable for use at the dlscretton of the TTUSt88s In furtherance of the general ob￿CtIVeS of the Charlty. RestrScted fund5 comprls8 Income recefved wlth special condltlons attached. Income for a spgclfic purpose not spent In any year Is carrled forward in th& r818vant fur￿. Deslgnated funds are unrestricted funds that Ihe T￿￿@S of the Charity have S8t aside, out of general funds and comprise sums of money for speclfic projects that Can etther be the updatlng of exlsllng, or the development and piloting of new, Gharitable services. Cardiff Young Men's Christlan Association Company Llmlted by Guarantee Notes to the Financlal Statements l¢ontlnu•d) Year ended 31 March 2025 Accountlng pollGles (¢onllmi8dJ Incomlng résourcas All Incomtng resources are included In the statement of financial activlt185 when entitlen*nt has passed to the charfty; It is probable that the economlc beneffts associated with the transaction wlll flow to the charity and the amounl can be reliably measured. The following Specific pollcles are appll8d to partlGular categories of Income: Income from donations or gr8nts18 recognised when there Is evldenc8 of entttleThnt to the gift, rec8lpt1s probable and its amount Can ba measured rellably. Income from donated goods Is measured 8t the falr value of th6 goods unl8SS ttrtls Is Inwractlcal to measure rellabty, In whlch case the value Is derlved from the cost to the donor or the esllmated resale valug. Donated facSlltles and sepilc88 8re recognlsed In the accounts when reGelved if the value can be rellably measured. No 8mounts are included for the contrfbullon of general volunteers. Income from contracts for the supply of 88rvlc88 15 fecognlsed the dellvery of the contracted servlce. Thi? Is clasGiffied as unrestrfcted furKls unless there Is a contra¢tual requlrement for It to b8 spent on a partlcular purpose and returned If unspent, In whlch case It may be regarded a8 re8trfctad. RasourGes expended Exp8nditur• Is recognlsèd on an accruals bas18 as a liablllty18 Sncurred, Expenditure Includes any VAT whlch cannot be fully re¢over8d, and Is cl888Kled under headlngs of the statement offinanclal actlvlt188 to whlch ￿ relats8.' expendllure on charftable athities Includes 811 ¢ost8 Incurred by a charity In undertaklng athltles that further113 Gharftable alms for the benefft of Its beneficlaries, InclLKling those support costs and costs 18latlng to the govemance of the charlty apportioned lo charlt8bla adlvAtie5. All costs are allocated to expendlture ¢ategorl8s reffecting the use of the resource. Dlrect costs attributable to a single activlty are allocaled directty to that actlvity. Shared costs ar8 apportloned beiweon the actlvltles they contribute to on a reasonable, Justifiable and conslstent basls. Tanglble assets Tanglble assets are Inlually recorded at cost, and 5ubsequontly stated at cost18ss any a¢cumulated depreGialon and Impairment losses. Any tanglble assets carrled al revalued amounts are recoTd8d at the falr value al the date of revaluallon le&$ any subsequent accumulated depreciation and subsequent accumulated impairment losses. 15 Cardiff Young Men's Christlan Association Company Llmlted by Guarantee Notes to the Financlal Statements (eon(knuedJ Year ended 31 March 2025 Accountlng pollcles (¢ondnu¢dJ Deprnclatlon Depredation Is calculated so as to wrlte off the cosl or valuation of an a85et, les8 Ils r881dual v81u8. oveTthe useful economlc Kfe of that asset as follow8: lryrovem8nts to Pro￿rtY Fixtures & Flttlngs Motor Vehlcle8 Computer Equipm8nt 2% and 10% stralght line 25% straSght Ilne 20% straight Ilne 33% stralght line Flnanclal Instruments A fjnanclel as88t or e fln8ndal118blllty Is recognl88d only when the ontlty becomes 8 Party to tho contractu81 provtslons of the Instrument. Baslc financlal Instrumerts are Inltially recognlsed 8t tho amount recelvable or payable Includlng any related transaclion costs, unle65 the a￿angement constltules a financlng tran88Ction, where It Is recognlsed at tho present value of Ihe future payments dlscounted at a markel rate of Interest for 8 slmllar debt Instrumenl. Current assets and currgnt Ilablllties are subsequently measurgd at the cash or other conskleratlon expected to be pald or recelved and not dlscounled. Debt instNments are subsequenty mea8ur8d at amortl8ed D•finod contributlon plans Contrlbutlons to dgfined contrlbution plans are recognlsad as an expens0 In the period In whlch tha rolated service Is provided. Prepald contrlbutlons are recognised as an as88t lo the exlent that tha prepayment will18ad to a reduGtion in future payments or a cash refuf)d. When conlrfbutlon8 are not expected to be settled wholly wltNn 12 rnonth8 of the erKI of the reportlng date In whSch the enwloyee8 render the related seNlce, the labS1ity Is measured on a dlscounted prosent value bas15. The unwlndlng of the discount Is recognlsed as an expense In the peflod In whlGh it arises. Debtors and crnditors rec8lvabl6lpay4bh wfthin one year Debtors and credltor8 wlth no slated Inlerest rate and recelvable or payable wlthln one year aro recorded 81 transactlon prlce. Any108888 arlslng from Impalrment are recognlsed In expendlture. Llmlted by guarantee Each member of Ihe Board of Trustees has undertaken to guarantee the Charlty's debts to the sum of£1 each. 16 Cardlff Young Men's Christian Association Company Limited by Guarantee Notes to the Financial Statements (C￿1￿￿¥d} Year ended 31 March 2025 Donalion5 and legacFes Unrestrided Restsicted Totsl Funds Fund8 Fund5 2025 Donations Donations - General Donations - 1910 Successor Trustees 12.320 100,0 12,320 100.000 Grants Grants recelvable 80,739 173,059 242,153 302,892 415.212 242,153 Unrestrfcted Fund8 Restrlcted Total Fund8 Fund8 2024 Donallons Donattons - General Donatlons - 1910 Successor frusteas 3,154 100,OCKJ 3,154 100,000 Gmnts Grants recelvabl 9,468 112,822 348,052 346,052 355,520 458,674 Charhablo actlvltles Restrided Total Funds Fund8 2026 Re6tri¢tod Total Funds Fund8 2024 Youth SeNlce1gv•I agreemgnt 140,000 140.000 128,000 128,000 Other Iradlng actlvltles Unrestricted Totsl Funds Unrestricted Total Fund8 Fund8 2026 Fund8 2024 Caterlno 3,586 3,586 Investment Incom6 Unrestricted Total Funds Unrestrfcted Total Funds Funds 2025 Funds 2024 Rental Income 175,133 175,133 186.261 186,261 Cardiff Young Men's Christian Association Company Limitsd by Guarantee Notes to the Financial Statements (con¢1n￿d) Year ended 31 March 2025 other income Unrestrlcted Total Funds Unrestricted Total FurKIs Funds 2025 Funds 2024 other Income: YMCA England & VV8les- Profit share 7,077 7,077 7,579 7,579 10. Expendlture on Gharltabk actlvttles by fund type Unrestslcted Funds Restrfrted Total Funds Funds 2025 Young People's Services Plasnewydd Community Cgntre Support costs 126,489 189,103 40.284 431,063 9,109 S57,552 198,212 40,284 796,048 355,876 440,172 Unreslrlcted Restrlctsd Total Funds Funds Funds 2024 Young People's Services Pla8n8wydd Community Centre Support ¢osts 101,758 182,909 42,608 327,271 486,152 9,109 587,908 192.018 42,606 822,532 495,261 11. Expenditure on Gharltable a¢tlvitle$ by acllvlty type Athltle3 undertaken direGtIy Support Total fvnds costs 2025 Totsl fund 2024 Young People's S8rvlces Plasnewydd Communlty Centre Govem8nc6 costs 557,552 198,212 32,612 3,202 4,470 40,284 590,164 201.414 4,470 796,048 818,706 195,384 8,442 822,532 755,764 18 Cardiff Young Men's Christian Association Company Llmlted by Guarantse Notes to the Financlal Statements (cont1n￿d) Year ended 31 March 2025 12. Analysis of 5UPPOrt Costs Young Plasnevrydd People% Community SeNlces Centre Total 2025 Total 2024 Stsff costs Prernls8s Communlc8llons arKI IT General office GovemanGe Gosts Other 6,403 3,7￿2 3,202 9,605 3.762 2,364 10.739 4,470 9,344 40,284 10,098 1,477 2,117 10.969 8.442 9,503 42,806 10,739 4,470 37,082 3202 13. Net exp•ndtturn Net expondlture b statod after charglngl Trust loan Is repayable over 4 annual in8talments of £5,000. Thera Is one paymant remalnlng, whlch has been Included as due In les8 Ihan one year. 20. PensSons and othor post rotirnmonl beneflis D•flned contrfbution plans The arrnunt recognlsed In Incr)me or oxp8ndlture as an oxpense In relatlon to deflned contrlbutlon plans was £30,930 (2024: £29,156). 21 Cardiff Young Men's Christian Association Company Limited by Guarantee Notes to the Flnanclal Statements (cont•wodJ Year ended 31 March 2025 21. Analysis of charitable funds Unrestricted funds At 1 Aprll 2024 At31 Income Expenditure March 2025 General fU￿lS Designated furKIs: Contingency reserve Plasnewydd Centre development Merger reserve 288,939 355,269 (355,876) 268.332 100,000 120,000 13,493 502,432 100,000 120,0110 13,493 501,825 35S,289 (355,876> At31 Incom8 Exp8ndttura March 2024 1 Aprll 2023 General funds Deslgnated funds: Contlngency reserve Plasnewydd Centre development Mewer reseNe 286,162 310,048 (327,271) 268,939 100,000 120,000 13.493 100,000 120,000 13,493 502,432 519,655 310,048 (327,271) A doslgnatgd furKI ha8 been Set a8 a contlngency Thasure to malntaln reserves at a level, whlch Is equlvalent to 6 monlhs of budgeled expendlture, Ih18 amounts to £11JO,000. Further deslgnated reseNas are also In placg towards any ongolng capital costs relating to the Plasnewydd Centre ond tow8rd8 Costs of the planned merger with Cardiff YMCA Housing A88ocialion. Cardiff Young Men's Chrfstian Assoclatlon Company Limited by Guarantee Notes to the Financial Statements (¢ontknu•dJ Year ended 31 March 2025 21. Analysb of charftable funds (¢ontthu•dJ Restricted funds At31 Income Expendlture March 2025 l April 2024 CCC Community Bulldlng The Waterfoo Foundation Pl88newydd Centre Dev6lopmant Vale Young Carern - Familles Flrnt Youth Innovatlon Grants YMCA England & Wales - YB Glrf8 Vale Young care￿ ReBFite & ID C8rds Plan Internatlonal UK Cardlff Coundl- Young C8rerB Grant Cardlff CC - Farrilies First He8tthy Relatk>nshlps SLA Hèalthy Relatlonshlp8 - Chlklran In Need Vale Sexual Health Postcode Communlty C3SC Perlod dlgnity grant The Outdoor Partner8hlp The B8nefact Trust Tesrx) Stronger Start8 795 29,814 411,317 795 36,175 402,208 35,000 (28,639) (9,109) (66,663) 129,347) (52239) (18,995) (6,605) (12255) 66,663 22,500 45,352 3,474 6,847 12,512 20,150 13,765 12,255 6,625 4,629 7,160 140,000 (140,IX)O) 10,000 20,637 (10,000) (19,e46) (20,000) (26.41 S) (240) 12.552 20,000 19,864 13,643 14,688 1,000 734 21,000 1,125 382,153 8.117 760 734 21,000 1,106 601,852 (19) (440,172) 559,871 23 Cardlff Young Men's Christian Association Company Limited by Guarantee Notss to the Flnanclal Statements (¢onthwdJ Year ended 31 March 2025 21. Analysis of charltable fund5 (conlln￿￿j Restrlcted funds (¢oM At 1 Aprfl 2023 A131 Incon* Expendiiure March 2024 CCC Commuth Bulldlng The Waterfoo Foundation Pjasne￿dd Centre Development V8le Young Carers - Familes Flrst Youth Innovallon Grants YMCA England & Wales - Y's GlrlB Vale Young Carers ReSI￿e & ID Cerds Plan Intèrnallonal UK YMCA Eng18nd & V¥ale8 IAII Churches Trust Cardlff Councll - Young Carern Grant Cardlff CC - Fanll88 Flr8t Healthy Relafjonshlps SLA Healthy Relationshlpg - ChI￿ren In Need YC Youth Endowment Summar of Fun V818 Sexual H081th Happy days Cardlff Youth Service Postcode Comrnunlty C38C Perfod dlgnlty grant Difect Food Support CWVYS - open Access The Outdoor Partnorshlp The Benefact Trust Tesco Strovdaf Starts 795 29,814 411,317 26,322 420,426 35,000 (31,$08) 19,109) (65,500) (17,986) ($6,163) (33,304) P,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) (ee,946) 79,201 12,255 110,000 (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 5,881 6,480 12,552 20,000 19,884 (27,508) (1,000) (5,681) (6,480) 581,080 474,052 (495,261) 559,871 Cardiff Young Men's Chrlstlan Assoclation Company Llmlted by Guarantee Notes to the Financial Statements feontln￿dj Year ended 31 March 2025 21. Analysis of charitable fund5 fGonrinuedJ C8rdlff Clty Councll Communlty Building grant income was received as a contrlbutlon towards the costs of improving the second floor at The Ilfralk, including the installation of a disabled toilet and 8 new kitchen. The Waterloo Foundation grant was recelved towards the YMCA Young Carer projecl. Plasnewydd Centre Development conslsts of the followlng ca￿1 grants receNed for the construclion and development of the centre: Phase 1: Cardlff YMCA (1910) Twst The Clothworkers, Foundatlon £10,000 £2S,000 £150,ODO £2,000 Phase 2: The Moondance FouNJation G C Glbson Phase 3 Igrant recelv8d year ended 31 MarGh 2019): Cardlff Councll The Tudor Trust Joseph Strorw Tru3t Glamorgan Voluntary Servlces Cardlff YMCA {1910) TnBt Phase 3 Igrent recelved ye8T 8nded 31 March 2020): Hodge Foundatfon Cardiff County Counqal Cardlff YMCA (1910) Trust Now Phase 2 end 3 constructlon work has been completed the grants 8re reducing annualty by deprecialon chargas. £30.000 £50,000 £1,000 £7,450 £40,000 £100,000 £10,000 £30,000 The FamlHes Flrst - Vala Young Caror8 grant was re¢eiv8d towards salary costs and project costs foi young ¢arer8. Cardlff County Councll - Youth Innovatlon Grant was rgcglved for youth work In tho P1a8ne￿dd, Vlthitchurch and Radyf 8rea8. YMCA England & Wale3 provided grant funding towards the salary costs of a mentor for the Y's Glr15 proJe(*. Vale Young Carers grant was recefved towaTd8 salary costs and project costs for youru Garer4 and additlon81 resld8ntial 8Ctlvitles and ID C8rds. Pkn Internatlonal UK grdnt wa8 received for Ihe salary costs of the Young Carers Workei for the Test & Learn Boys Proj8Ct, The YMCA England & Wales and All Churches Trust grants were receivèd to help transfonn the Mental Health for Young People. The Cardiff County Councll Your¥J Carers grant was received to provide support for Young Car8WS. The Cardiff Councll Famllles Flrst grant was received to provlde support and advlce lo schools. BBC Chlldren in Need grant funding vlas received to fund the salary of a Heakhy Relationships Project Worker. Youth Endowment Fund granl was received to dellvery and support young people at rfsk of youth violence. Cardiff Young Men's Christian Association Company Umited by Guarantse Notes to the Financlal Statements (tort Year ended 31 March 2025 21. Analysis of charltable funds fwthu•dJ Councll for Wa￿S ofvoluntary Youth Services (CVVVYS) provided fundlng towards the Summer of Fun proJeGt. Vale of Glamorgan Councll provlded funds under a seNlce level agr88ment lowards the C4ard servlce. supportlng better sexual heafth. Happy Days Charfty provided money towards att8ndanc8 at the Wales Young Carers Fesoval. Carrfrffyouth Setvlce provlded fundlng as part of tha Chlldren & Young People Wollbelng Athltles Programme. Project funding was reGelved from Postcode Communlty Trust towards the development of Commun81 G8rden. C3SC mnitis 8UPPOrt the Shaplng Our Future Wellbelng Stretegy. In conjunctlon wlth Cardlff YMCA Hou31ng Pssoclatlon, Perlod Dlgnlty grants were recelved from Carthff Councll to support related purchases. Cardlff Councll also provided fundlng for the DlreGt Food su￿￿t Grant Progranmne. Councll for Wa16s of Voluntary Youth Servlces (Cwfs) also provlded funding towards mea15 for young peoplfr. The Outdoor Partn8r8hlp provlded fundlng towards a resldenllal trlp. Benefact Trust has pmvlded fundlna towards tho Y Glrls projed. Tesco Slronger Starts provlded fundlng towards cogts of the Get CooloDg Course run by the Youth Club. 26 Cardlff Young Men's Christian Association Company Limited by Guarantse Notes to the Financlal Statements (e4xthugdJ Year ended 31 March 2025 22. Analys15 of net assets between funds Unrestrictsd Funds Resttlcted Total Funds Funds 2025 Tangible fixed 8&88ts Curienl assets Credltots less than 1 year credIto￿ greatsr than 1 year Net assets 121,973 440,559 (60,707) 403,002 98,850 624,976 539.409 (60,7071 501,825 501,852 1.003,677 Unrestrlcled Restrlcted Total Funds Fund8 Fund8 2024 Tangible fixed 8988ts Current as88ts CreditorJ less than 1 year Credltols Qfealer than 1 year Nèt ass•ts 136,397 433,788 (62,733) (5.000) 502,432 412,112 147,759 548,509 S81,527 (62,733) {5,000) 1,062,303 559,871 23. Analysls of changes In n•t debt At At 1 Apr 2024 Cesh flows 31 Mar 2026 Cash at bank aThJ In hand 503,433 (38,420) 465,013 24. Post balance sheet events Further work h88 baen undertaken by Cardlff YMCA and Cardlff YMCA Houslng Awdallon boards durlng the yeer on the merger of both YMCA3. The rlsks hlghllghted last year In the houslno sector on EICR related Issue5 have now been largety resolved. It Is therefore expected that thls merger, following final Flnancial Conduct Aulhorlty (FCA) approval will be finaltsed from 1 February 2026, fjnally creallng a unlfied YMCA Cardiff, 25. Related partles The Chlef Executlve Mr A T8mpleton took over the posltion as the Chlef ExecutNe of Cardlff YMCA Houslng Association from Febru8ry 2018 and has a dual Chlef Executiv8 role for both organisatiorA. Durlro the year, the charlty recelved £39,174 12024: £37,567) from Cardlff YMCA Houslng Association In relation to rental and other recharges and was charged £113.226 P024". £112,587) from C8rdlff YMCA Houslng Assodatlon fot premlseg costs and management fees. At the ye8r-end an aggregate balance of £22,710 was due from the YMCA Houslng Assodatlon to th8 charity (2024: £25.368 due to YMCA Housing). 27