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2021-03-31-accounts

YMCA CENTRES (SOUTH MOLTON)

(A company limited by guarantee)

INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

COMPANY NUMBER REGISTERED CHARITY NUMBER

09473987 1165990

Principal office and registered 39/41 St David's Hill CONTENTS Office Exeter Devon EX4 4DA Board of Management Annual Report Page Vision 3 The trustees I Awcock (Chair) What a year it’s been 4 W McDermid (Treasurer) Our year in numbers 6 H Warren Our fundraising ethos 7 K Williams R Williams Trustees' Annual Report (incorporating the director's report) S Martin Independent examiner's report to the trustees 11 (resigned Jan Statement of financial activities 12 2021) (including income and expenditure account) G Laws Statement of financial position 12 Notes to the financial statements 13 Key management G Sorsby Independent examiner Stuart Carrington FCA Timberly South Street Axminster Devon, England The trustees, who are also the directors for the purposes of company law, present EX13 5AD

Board of Management Annual Report Page Vision 3 What a year it’s been 4 Our year in numbers 6 Our fundraising ethos 7

The trustees, who are also the directors for the purposes of company law, present their report and the independently examined financial statements of the charity for the year ended 31 March 2021.

Structure, governance and management

The Association is a Company limited by guarantee (number 09473987) and a registered charity (number 1165990). The governance of the Association is conducted in accordance with the Constitution registered with the Charity Commission. The business of the Association is managed by the Board, which may include co-opted members, who may not exceed five in number or one third of the membership of the Board.

Reference and administrative details

Registered charity name YMCA Centres (South Molton) Charity registration number 1165990 Company registration number 09473987

Organisational structure

The Charity has a Board of a minimum of 4 members and a maximum of 12 members who meet regularly. They are responsible for the strategic direction and policy of the Charity. One third of the number of members of the Board or three members (whichever is the greater) need to attend each meeting to form a quorum. At 31st March 2021, the Board comprised of 8 members. The Board seeks to ensure that members have a range of skills covering business and management areas, together with those with experience of working with our primary client groups. In the event of particular skills being lacking or lost due to retirement from the Board, individuals with similar skills are sought as replacements. All members of the Board give their time voluntarily and receive no benefits from the Charity. They all waive recovery of small levels of expenditure in carrying out their duties, and therefore no member claimed any expenses during the year.

OUR VISION IS OF AN INCLUSIVE CHRISTIAN MOVEMENT TRANSFORMING COMMUNITIES WHERE ALL YOUNG PEOPLE

CAN BELONG CONTRIBUTE AND THRIVE

WHAT A YEAR IT’S BEEN

“The centre offers a safe place where young people can develop into young adults. The staff bridge the gap in reducing and addressing crime and disruptive behaviour that could take place if the Centre wasn’t available." - Police Community Support Officer

This year more than ever we have been so grateful for the local community’s support and partnership with us as we adapted to meet the emerging needs presented by the pandemic. Moving in and out of lockdowns throughout the year and constantly being responsive to each government change to ensure we can serve the town well proved to be a rewarding experience. As the first lockdown hit at the beginning of the year and we closed the centre to external groups, we were able to apportion our staff members and volunteers to assist in scaling and delivering the South Molton foodbank, as many of the foodbank volunteers were required to stay at home. We gave over the sports hall to be used as a food storage warehouse and we partnered with One South Molton to launch the community fridge, providing free food parcels as well as cooked meals for those in need or self-isolating.

In between lockdowns we did all we could to bring light, joy and some normality to the town by providing activities, mini wellbeing freebies and recommencing centre activities wherever possible.

Our youth and children’s groups moved fluidly as restrictions allowed from online board game groups to face to face small groups back in the centre and detached roaming youthwork. Through this period, we did lose contact with a large number of young people, particularly during the times of only delivering virtual sessions but as we began to re-emerge towards the latter part of the year, we saw mass reintegration into our youth services again.

While the impact of Covid has been and continues to be disruptive upon our work we are incredibly proud of our staff and volunteers who have shown incredible resilience to constantly adapt their work.

For many organisations, Covid created significant financial challenge and for YMCA South Molton this was certainly true. Pre pandemic we had grown the room hire income from community use of the centre to a place where it covered our core costs, yet this source of income was obliterated overnight. Yet many charitable giving organisations came to our aid, and we were able to secure emergency funds to limit the impact of this and ensure our projects were protected. For their support we are eternally thankful. Those funders are:

Moving forward we are excited about the future of our work in South Molton. We have now been awarded a large 3-year grant from The National Lottery to solidify our work and allow us to develop further community interactions and services. This funding will spur us on to grow our reach and impact and enable us to explore and create new areas of work to better serve the needs of the town.

Our aspirations for YMCA South Molton are to see the charity as a key partner in the town and surrounding villages, to build community cohesion and reduce social isolation.

As of summer 2021 we can report we are seeing many of our previous centre hirers come back to use the centre regularly and it is now returning to being a thriving community hub.

290 local individuals supported

1 centre at the heart of the town, dedicated to serving the whole community

35 volunteers

Financial support from 4 new trust funds

135 youth sessions delivered

40 people new to

our services

OUR FUNDRAISING ETHOS

YMCA South Molton is committed to the discipline of fundraising, for when we ask and receive resources, we are better equipped to share abundant life with the people we serve.

Inspired by our Christian faith, we believe that the best expression of our love for God is our love for one another. It is this understanding of God that motivates us to live hospitably, inviting ourselves and others to give generously of our resources, including time, talents and money, with those around us.

Our fundraising ethos is based on four key premises:

PUBLIC BENEFIT REQUIREMENTS

The Charity’s objects set out in its articles:

To provide social, educational and recreational facilities for purposes that lead to transformed communities through improved physical, mental and spiritual wellbeing.

All services delivered during the year though the provision of community facilities and youth services are provided to improve the quality of life of members of the local community, amply meeting our public benefit requirement.

RISK MANAGEMENT

The Board has conducted a review of the major risks to which the Charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the Charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of transactions and projects. Budgets are produced prior to the commencement of the year to establish the level of funding required and applications are made to cover this expenditure. The majority of expenditure is planned in in advance to ensure that it does not exceed the annual income. If funds are not forthcoming then the work of the Charity is curtailed. Management accounts are prepared quarterly and these are compared with the budget to ensure the charity can maintain its activities. These are presented to the board who review past performance and plan for the future.

The youth work is provided to the community without charge to the clients for the services supplied, and all income generated is used to meet the operating costs of the centre. Therefore the Charity is dependent upon income from room bookings and grant funding to cover its costs each year.

Procedures are in place to ensure compliance with health and safety of staff, service users and visitors to the premises, and regular reports are made to the Board. These procedures are periodically reviewed to ensure that they continue to meet the needs of the Charity.

INVESTMENT POLICY

The Charity has set aside a designated reserve to meet future expenditure on the building. The Charity has no other reserves for investment as income is used as working capital.

RESERVES POLICY

The Board has examined the Charity’s requirement for reserves in the light of the main risks to the organisation. The Charity owns the leasehold property YMCA South Molton Centre, Mill Street, South Molton and has allocated a reserve £8,000 towards repairs. The unrestricted income funds at the end of the year are £45,602. Once the designated building reserve of £8,000 is deducted this leaves unrestricted reserves of £37,602 which represents almost 10 months operational expenditure. The trustees aim to hold 3 months operational expenditure in free reserves which is equal to roughly £11,400 based off this year’s figures. Plans to utilise these excess reserves are in place as we expand our work this coming year, particularly as we increase staffing levels and reinvest into the centre.

The free reserves are currently more than the policy by £26,202 and will be spent in accordance of above.

TRUSTEES

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Ian Awcock Will McDermid
Chair Treasurer
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FINANCIAL REVIEW

During the year, income has been sourced from Grants of £73,844. Room bookings of £7,785. Donations totalling £760 and Other income of £1,064 giving an overall income of £83,453 for the year. In the next financial year, the Charity has been awarded a major grant expanding over three years to increase the activities in the Centre for the benefit of local residents.

Expenditure for the year was £44,726 giving an operational surplus of £38,727 at the end of the year.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 9th September 2021 and signed on behalf of the board of trustees by:

I Awcock W McDermid Chair Treasurer

INDEPENDENT EXAMINERS, REPORT

INDEPENDENT EXAMINER'S REPORT

I report to the trustees on my examination of the financial statements of YMCA Centres (South Molton) ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Independent examiner's statement

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

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

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

  1. the financial statements do not accord with those records; or

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

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

Stuart Carrington FCA Independent Examiner

For and on behalf of Thomas Westcott Chartered Accountants Timberly South Street

Axminster Devon, EX13 5AD

DATED: 1[st] October 2021

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 35,741 38,863 74,604 19,526
Other trading activities 6 7,785 – 7,785 14,846
Other income 7 1,064 – 1,064 2,691
──────── ──────── ──────── ────────
Total income 44,590 38,863 83,453 37,063
════════ ════════ ════════ ════════
Expenditure
Expenditure on charitable activities 8 10,684 34,042 44,726 38,217
──────── ──────── ──────── ────────
Total expenditure 10,684 34,042 44,726 38,217
════════ ════════ ════════ ════════
──────── ──────── ──────── ────────
Net income/(expenditure) 33,906 4,821 38,727 (1,154)
════════ ════════ ════════ ════════
Transfers between funds (921) 921 – –
──────── ──────── ──────── ────────
Net movement in funds 32,985 5,742 38,727 (1,154)
Reconciliation of funds
Total funds brought forward 6,875 – 6,875 8,029
──────── ──────── ──────── ────────
Total funds carried forward 39,860 5,742 45,602 6,875
════════ ════════ ════════ ════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 15-19 form part of these financial statements.

STATEMENT OF FINANCIAL POSITION

2021 2020
Note £ £
Fixed assets
Tangible fixed assets 12 1 1
Current assets
Debtors 13 1,466 1,161
Cash at bank and in hand 52,932 22,338
──────── ────────
54,398 23,499
Creditors: amounts falling due within one year 14 8,797 16,625
──────── ────────
Net current assets 45,601 6,874
──────── ───────
Total assets less current liabilities 45,602 6,875
──────── ───────
Net assets 45,602 6,875
════════ ═══════
Funds of the charity
Restricted funds 5,742 –
Unrestricted funds 39,860 6,875
──────── ───────
Total charity funds 15 45,602 6,875
════════ ═══════

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on 9[th] September 2021, and are signed on behalf of the board by:

I Awcock W McDermid Chair Treasurer

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

1. General information

The charity is a public benefit 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 39/41 St David's Hill, Exeter, Devon, EX4 4DA.

2. Statement of compliance

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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

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 accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two subclasses: restricted income funds or endowment funds.

Disclosure Exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.

Incoming 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 benefits 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:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - Straight line over 3 years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cashgenerating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Reserves

Operating reserves are unrestricted cash or working capital. The charity aims to hold unrestricted cash reserves of three months budgeted expenditure.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent

accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it

Financial instruments

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 the 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.

Cash at bank and in hand

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

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment ore recognised in expenditure.

4. Limited by guarantee

YMCA Centres (South Molton) is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

5. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Donations
Donations 760 – 760
Grants
Revenue grants 34,981 38,863 73,844
──────── ──────── ────────
35,741 38,863 74,604
════════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Donations
Donations 1,901 – 1,901
Grants
Revenue grants 17,625 – 17,625
──────── ──── ────────
19,526 – 19,526
════════ ════ ════════

6. Other trading activities

Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2021		 Funds 2020
£ £ £ £
Fundraising events –
–		 200 200
Room bookings 7,785
7,785		 14,646 14,646
───────
───────		 ──────── ────────
7,785
7,785		 14,846 14,846
═══════
═══════		 ════════ ════════
her income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Miscellaneous income 1,064 1,064 2,691 2,691
═══════ ═══════ ═══════ ═══════

7. Other income

8. Expenditure on charitable activities by fund type

Unrestricted
Funds		 Restricted
Funds		 Total Funds
2021
£ £ £
South Molton Centre
Youth Work at South Molton		 9,450
–		 12,182
21,860		 21,632
21,860
Support costs 1,234 – 1,234
────────
10,684		 ────────
34,042		 ────────
44,726
════════ ════════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
South Molton Centre 19,891 – 19,891
Youth Work at South Molton 17,174 – 17,174
Support costs 1,152 – 1,152
──────── ──── ────────
38,217 – 38,217
════════ ════ ════════

9. Independent examination fees

2021 2020
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,134 1,080

10. Staff costs

The average head count of employees during the year was Nil (2020: Nil).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

12. Tangible fixed assets

. Tangible fixed assets
Long
leasehold
property Equipment Total
£ £ £
Cost
At 1 April 2020 and 31 March 2021 1 424 425
════ ════ ════
Depreciation
At 1 April 2020 and 31 March 2021 – 424 424
════ ════ ════
Carrying amount
At 31 March 2021 1 – 1
════ ════ ════
At 31 March 2020 1 – 1
════ ════ ════

13. Debtors

3. Debtors
2021 2020
£ £
Debtors, prepayments and accrued income 1,466 1,161
════ ═══════

14. Creditors: amounts falling due within one year

2021 2020
£ £
Other creditors 1,221 90
Amounts owed to:
- City of Exeter YMCA 549 970
- YMCA Exeter Community Projects 5,201 14,342
Accruals and deferred income 1,826 1,223
------- -------
8,797 16,625
------- -------

11. Trustee remuneration and expenses

There were no expenses or remuneration paid to trustees in the year. In 2020, the now resigned trustee A Somerwill was paid a sum of £8,739 for services paid at an arm’s length basis, on a pre-existing contractor for services with YMCA Exeter Community Projects which A Somerwill is an employee.

15. Analysis of charitable funds

Unrestricted funds

At 1 April 2020 Income Expenditure Transfers At 31 March 2021
£ £ £ £ £
General funds 4,875 44,590 (10,684) (6,921) 31,860
Building maintenance reserve
2,000 – – 6,000 8,000
─────── ──────── ──────── ─────── ────────
6,875 44,590 (10,684) (921) 39,860
═══════ ════════ ════════ ═══════ ════════
At 1 April 2019 Income Expenditure Transfers At 31 March 2020
£ £ £ £ £
General funds 6,029 37,063 (38,217) – 4,875
Building maintenance reserve 2,000 – – – 2,000
─────── ──────── ──────── ──── ───────
8,029 37,063 (38,217) – 6,875
═══════ ════════ ════════ ════ ═══════
Restricted funds
At 1 April 2020 Income Expenditure Transfers At 31 March 2021
£ £ £ £ £
Centre – 12,182 (12,182) 921 921
Youth Work – 26,681 (21,860) – 4,821
─────── ──────── ──────── ──── ───────
– 38,863 (34,042) 921 5,742
═══════ ════════ ════════ ════ ═══════
At 1 April 2019 Income Expenditure Transfers At 31 March 2020
£ £ £ £ £
Centre
– – – – –
Youth Work
– – – – –
─────── ─────── ─────── ─────── ───────
– – – – –
═══════ ═══════ ═══════ ═══════ ═══════

The transfer from unrestricted reserves to restricted reserves represents the unspent balance as at 1 April 2020 of funds which upon review, were deemed to be restricted.

Restricted funds include contribution towards the overheads of the Centre and the costs of running Youth Work.

16. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Tangible fixed assets 1 – 1
Current assets 48,656 5,742 54,398
Creditors less than 1 year (8,797) – (8,797)
──────── ─────── ────────
Net assets 39,860 5,742 45,602
════════ ═══════ ════════
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Tangible fixed assets 1 – 1
Current assets 23,499 – 23,499
Creditors less than 1 year (16,625) – (16,625)
──────── ──── ────────
Net assets 6,875 – 6,875
════════ ════ ════════

17. Related parties

City of Exeter Y.M.C.A is a charitable company limited by guarantee, and a Registered Social Landlord (Number 2449636). YMCA Exeter Community Projects is an incorporated registered charity. Currently the trustees of City of Exeter Y.M.C.A and YMCA Exeter Community Projects are the same members and some of the members are also trustees of YMCA Centres (South Molton).

Day to day responsibility for the management of the three organisations rests with the Joint Executive Leads of City of Exeter Y.M.C.A and YMCA Exeter Community Projects, supported by the senior management team under service level agreement between the respective organisations.

During the year the charity made payments to and received payments from both YMCA Exeter Community Projects and City of Exeter Y.M.C.A, for shared costs and services provided. These have been charged at comparable market costs, without allowing any discounts due to the connected nature of their relationships. At the end of year £549 was owed to the Housing Association and £5,201 was owed to Community Projects for costs incurred but not yet reimbursed.

K Williams, R Williams and G Laws are trustees and are also members of the senior leadership team of One Way Church. The church has weekly room bookings and is charged the standard hourly room rate.

Mill Street South Molton North Devon EX36 4AS

T. 01769 579547 W. www.ymcasouthmolton.org.uk Facebook. YMCASoMo