**YMCA Centres (South Molton) (Company Limited by Guarantee) INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

REGISTERED CHARITY NUMBER 1165990 

COMPANY REGISTRATION NUMBER 09473987 





## **CONTENTS** 

|**ONTENTS**||
|---|---|
|**Contents**|**Page**|
|Trustees' annual report (incorporating the director's report)|**2**|
|Independent examiner's report to the trustees|**11**|
|Statement of financial activities (including income and expenditure||
|account)|**12**|
|Statement of financial position|**13**|
|Notes to the financial statements|**14-22**|






**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



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 2023. 

## **Reference and administrative details** 

**Registered Charity name** YMCA Centres (South Molton) **Charity registration number** 1165990 **Company registration number** 09473987 **Principal office and registered** 39/41 St David's Hill **office** Exeter Devon EX4 4DA **The Trustees** I Awcock Chair W McDermid Treasurer J Lucas H Warren R Nardone K Williams R Williams G Laws J Snicker Resigned 27[th] September 2022 S Martin Resigned 27[th] September 2022 **Key Management** G Sorsby **Independent examiner** Robyn Gifford-England ACA Westcotts (SW) LLP Timberly South Street Axminster Devon EX13 5AD 


2 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **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. 

## **Organisational structure** 

The Charity has a Board of a minimum of 4 members and a maximum of 12 members who meet quarterly. 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 2023, 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 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. 

## **Leadership** 

Since 2017 the YMCA Exeter Group, including YMCA Centres (South Molton), has had a joint leadership model to foster accountability and mutual support in what can often be an isolating role. Our Joint CEOs strive to deliver a better, stronger and more effective service for our beneficiaries, staff and volunteers. 

**Gareth Sorsby** began work within the Group in 2010. After leaving school, Gareth gradually worked his way up to General Manager at a 4* Cornish hotel, before moving to Exeter to help young people and ex-offenders into employment. Gareth believes strongly in early intervention and the importance of youth work programmes. Gareth specialises in strategic housing and community development. 

**Si Johns** began within the Group in 2002 as an Assistant Housing Manager, with a background in youth work and 


social work. An expert in the benefits system, tribunals and disability training: Si is also a Full Chartered Member of the Chartered Institute of Housing. Si believes that this “work is all about spotting people’s potential and giving them the time they need to see it for themselves. ” 


3 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **WELCOME** 

_**“There is a really nice social atmosphere, and it’s a great place to meet new people. I have helped to make bits and bobs like planters and benches for the Centre, it keeps me busy and gives me a sense of contribution to community.”**_ 

## **The story of our project this year** 

YMCA Centre (South Molton) is a bustling community hub. This year, we have worked with more community organisations and projects than ever before, to provide services and support needed in our community. Most importantly, we have seen individuals who use our Centre grow and develop in fantastic ways, becoming more resilient because of friendships formed in the community. Rural social isolation has been tackled and the impact of the cost-of-living crisis on local residents has been addressed by the provision of warm spaces, social connections and free food rescued from landfill. 

Our Centre is used for a wide range of activities supporting the whole community. Community groups and individuals also rent the premises for their own private activities and sessions. These include: 

- •South Molton Foodbank 

- •OneWay Community Church 

- •NHS Falls Prevention Clinic 

- •Badminton, Table Tennis and Basketball Sessions 

- •Children and Youth Cooking Classes 

- •Samba Drumming Club 

•Toddler Football 

## **Community Café** 

Nothing brings people together like food. It is a big part of our everyday lives and so is community. It is only natural that these two go hand in hand. In its second year, we have seen the café become the 'connective tissue' of our local community. We have become a place where people can eat, drink and connect with each other regardless of age, race, gender, religion, and socio-economic status. Last winter, we were also a warm bank in South Molton, providing a safe space for people to keep warm, have a drink and something to eat if they can’t afford to heat their homes. 


The community café runs on a pay-as-you-feel basis and attracts a diverse range of people. It is heartwarming to see the friendships and connections that have formed because of this project. The café is open 5 days a week. There are always teas and coffees available and of course cakes! We continue to provide a hot meal in the afternoon on Thursdays and cooked breakfast on Friday mornings. 


4 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 




## **The Community Fridge** 

Our community fridge continues to provide a site where local people can share and access food for free. There is no stigma attached as the main purpose of the fridge is to address food waste not food poverty. We rely solely on a dedicated team of volunteers to collect surplus food from supermarkets. Since taking over this project in July 2021, we have saved approximately 11 tonnes of food from going to waste. We also use the produce collected to cook the meals served at the café to help keep costs down. 

## **Monthly Friendship Lunch** 

With the help of volunteers, we cook a meal on the first Sunday of every month for the older members of our community. The lunch club helps to relieve loneliness and prolong independence in later life by providing a safe, welcoming space for them to socialise and make new friends. Our meals are family friendly and open to anyone in the community. Our friendship lunches are always very well attended. 

## **Bumble Buddies Toddler Group** 

The current cost-of-living crisis has also seen an increasing number of parents from Bumble Buddies access the Food Bank (which runs of out the Centre). We recognise parenthood is not easy, especially for new parents during this challenging time. Therefore, we jumped at the opportunity when Devon Mind reached out to us about the possibility of working together. One of their Recovery Practitioners has been attending Bumble Buddies once a month to chat with parents, provide low level mental health support and signpost if necessary. The toddler group has also become a base for social workers to come and meet families who need additional support. 

This year we worked with South Molton Community College by providing a setting for a group of students who are in therapeutic education to help out at Bumble Buddies. These students interact, play, colour and do bits of simple craft with the toddlers and help volunteers prepare snacks and tidy up. 

We have also provided opportunities for parent volunteers to upskill and we are pleased to say that they are now all first aid trained and have successfully completed safeguarding training. 


5 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **Mentoring and Therapeutic Education** 

We work alongside local schools and special education facilities to help some of their more challenging pupils. During these sessions we have spent time baking, cooking, playing sports, go-karting and various other activities. A lot of the young people have Education Health Care Plans, so by attending our Centre they can achieve some of their goals such as socialisation and improving their communication skills. 


## **Special Educational Needs Peer Support group** 

This group was set up after several parents asked for support. The group is very well attended and has met a need within our community. The parents represent 6 different schools in the area and also include home school parents. 

## **Youth Circuit Training** 

The free under 16s circuit training sessions are proving to be very popular and well attended by local young people. It provides a place for them to exercise, improve their fitness and socialise. The young people really look up to Dave, the instructor, who has an infectious personality. He always manages to make the sessions engaging and fun, whilst motivating the kids to work hard. 

## **‘Let’s Talk Together’ Peer support** 

Let’s Talk Together is a peer support group led by a local resident, Yas, who has lived experience of Mental Health difficulties and has a wealth of experience and professional training. The aim is to promote wellbeing in mental health, learn coping strategies from each other and share positive experiences as well as the realities of managing our mental health. Yas has had mental health first aid training and has a wide range of experiences within mental health. 

## **Pop Up Events** 

We love to celebrate, whether that be Christmas, Easter or indeed the King’s Coronation. Throughout the year we have hosted numerous special events and partnered with some amazing organisations to bring a breadth of experiences to the town, including: 

## • **Coronation Lunch** 

This event was specially requested by the older patrons of our community café. None of their homes were big enough to accommodate all of them for a meal and watch the coronation together, so they approached us for help. 


## • **Summer Make n’ Bake** 

During the summer school holiday, we run Make n’ Bake every Monday. We provide all the ingredients, bake with the children (with help of volunteers) and do all the washing up. Parents can choose to be involved as much or as little as they want. 


6 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## • **Family Art Sessions** 

These are free art workshops for families to attend. Led by Learn Devon, they are fantastic opportunities for parents and children to get messy and creative together. 

- **Light Party** 

We know a lot of parents prefer to know that their children are not wandering the streets and knocking on doors on Halloween for safety reasons. Also, not all children are keen on the horror-soaked narrative during this time. So, we held a Light party last October as an alternative and provided a safe space with bouncy castle, party food, face painting etc. Kids are encouraged to come dressed as their favourite superheroes which is a positive alternative to scary witches and ghosts. 

## **Centre Hire for Private Use** 

The Centre is available for private hire and is regularly the chosen location for children’s birthday parties, local community group meetings and for personal hire for sports and recreation. 



7 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **THANKS** 

We are incredibly thankful for the many local people who give their time through volunteering to ensure our services can continue running. We are also grateful for the many charitable grant making trusts, the local councillors and South Molton Town Council who have all supported our work this year. Those funders are: 

- The National Lottery Community Fund 

- Southwest YMCA Trust Fund 

- Devon County Council 

- Devon Community Foundation 

- South Molton Town Council 






8 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **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 through 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. 

## **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 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. 

Youth and Children’s services are 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 Centres (South Molton) Mill Street, South Molton and has allocated a reserve £4,700 towards repairs. The unrestricted income funds at the end of the year are £41,555. Once the designated building reserve of £4,700 is deducted this leaves unrestricted reserves of £36,855 which represents almost 5 months operational expenditure. The trustees aim to hold 3 months operational expenditure in free reserves which is equal to roughly £23,750 based off this year's figures. Plans to utilise these excess reserves are in place as we continue and deepen our work this coming year. 

The free reserves are currently more than the policy by £13,105 and will be spent in accordance of above. The reserve policy is based on actual expenditure in 2022-23. The Trustees expect costs to increase or remain high in this financial year and will utilise the free reserves to minimise the financial impact on the Charity. 


9 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Trustees' Annual Report (incorporating the director's report)** Year ended 31 March 2023 



## **Financial review** 

During the year, income has been sourced from Grants and Donations of £8,250, room bookings of £17,084, fundraising income of £155 and investment income of £103, giving an overall income of £25,592 for the year. 

Expenditure for the year was £94,907 giving an operational deficit of (£69,315) at the end of the year. 

This deficit is due to a large, restricted, multi year grant from The National Lottery, all of which was recognised in last year’s annual accounts. Details of the grant being spent can be found in Note 16. 

## **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 21[st] November 2023 and signed on behalf of the board of trustees by: 


I Awcock **Trustee** 


W McDermid **Trustee** 


10 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Independent examiner's report to the trustees** Year ended 31 March 2023 



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 2023. 

## **Responsibilities and basis of report** 

The trustees are also the directors of the company for the purposes of company law and 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 

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

3. 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 

4. 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). 

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. 


## **Robyn Gifford-England ACA** 

Independent Examiner Westcotts (SW) LLP Timberly South Street Axminster Devon EX13 5AD 

DATED: 22[nd] November 2023 


11 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Statement of financial activities (including income and expenditure account)** Year ended 31 March 2023 



||||**2023**||2022|
|---|---|---|---|---|---|
||Unrestricted||Restricted|||
|||funds|funds**Total funds**||Total funds|
||**Note**|**£**|**£**|**£**|£|
|**Income and endowments**||||||
|Donations and legacies|**5**|3,698|4,552|8,250|170,322|
|Other trading activities|**6**|17,239|–|17,239|13,548|
|Investment income|**7**|103|–|103|–|
|Other income|**8**|–|–|–|336|
|||────────|───────|────────|────────|
|**Total income**||21,040|4,552|25,592|184,206|
|||════════|═══════|════════|════════|
|**Expenditure**||||||
|Expenditure on charitable||||||
|activities|**9**|11,300|83,607|94,907|62,538|
|||────────|────────|────────|────────|
|**Total expenditure**||11,300|83,607|94,907|62,538|
|||════════|════════|════════|════════|
|||────────|────────|────────|────────|
|**Net (expenditure)/income and net**||||||
|**movement in funds**||9,740|(79,055)|(69,315)|<br>121,668|
|||════════|════════|════════|════════|
|**Reconciliation of funds**||||||
|Total funds brought forward||31,815|135,455|167,270|45,602|
|||────────|────────|────────|────────|
|**Total funds carried forward**||41,555|56,400|97,955|167,270|
|||════════|════════|════════|════════|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 


12 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 




**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|2023|2022|
|Note|£|£|
|Fixed assets|
|Tangible fixed assets|13|8,200|3,298|
|Current assets|
|Debtors|14|50,636|109,955|
|Cash at bank and in hand|57,108|67,909|
|──────── ────────|
|107,744|177,864|
|Creditors: amounts falling due within one year|15|17,989|13,892|
|──────── ────────|
|Net current assets|89,755|163,972|
|──────── ────────|
|Total assets less current liabilities|97,955|167,270|
|──────── ────────|
|Net assets|97,955|167,270|
|════════|════════|
|Funds of the Charity|
|Restricted funds|56,400|135,455|
|Unrestricted funds|41,555|31,815|
|──────── ────────|
|Total Charity funds|16|97,955|167,270|
|════════|════════|

**----- End of picture text -----**<br>


For the year ended 31 March 2023 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 

Directors' responsibilities: 

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; 

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. 

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 21[st] November 2023 and are signed on behalf of the board by: 


I Awcock **Trustee** 


W McDermid **Trustee** 


13 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **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. 

## **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 are recognised in expenditure. 


14 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **3. Accounting policies** _**(continued)**_ 

## **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 sub-classes: restricted income funds or endowment funds. 

## **Disclosure Exemptions** 

The entity satisfies the criteria of being a qualifying entity as defined in FRS102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS102. 

- No cash flow statement has been presented for the entity. 

- Disclosure in respect of financial instruments have not been presented. 

## **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: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- legacy income is recognised when receipt is probable and entitlement is established. 

- income from donated goods is measured at the fair 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 contribution of general volunteers. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 


15 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **3. Accounting policies** _**(continued)**_ 

## **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: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support 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 the charity nor part of its expenditure on charitable activities. 

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. 

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


16 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **3. Accounting policies** _**(continued)**_ 

## **Depreciation** 

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: 

Fixtures and Furniture - Straight line over 5 years 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 cash-generating 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. 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Charity are assigned to those units. 

## **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. 

## **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. 


17 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **5. Donations and legacies** 

|**5.**|**Donations and legacies**|||||
|---|---|---|---|---|---|
||||||**Total**|
||||Unrestricted|<br>Restricted|<br>**Funds**|
||||Funds|<br>Funds|<br>**2023**|
||||£|£|**£**|
||**Donations**|||||
||Donations||3,698|<br>–|<br>3,698|
||**Grants**|||||
||Revenue grants||–|<br>4,552|<br>4,552|
||||───────|<br>───────|<br>───────|
||||3,698|<br>4,552|<br>8,250|
||||═══════|═══════|═══════|
||||Unrestricted|<br>Restricted|<br>Total Funds|
||||Funds|<br>Funds|<br>2022|
||||£|£|£|
||**Donations**|||||
||Donations||322|<br>–|<br>322|
||**Grants**|||||
||Revenue grants||–|<br>170,000|<br>170,000|
||||────|────────|────────|
||||322|<br>170,000|<br>170,322|
||||════|════════|════════|
|**6.**|**Other trading activities**|||||
||||**Total**|||
|||Unrestricted|<br>**Funds**|<br>Unrestricted|<br>Total Funds|
|||Funds|<br>**2023**|<br>Funds|<br>2022|
|||£|**£**|£|£|
||Fundraising events|155|<br>155|<br>–|<br>–|
||Room bookings|17,084|<br>17,084|<br>13,548|<br>13,548|
|||────────|────────|────────|────────|
|||17,239|<br>17,239|<br>13,548|<br>13,548|
|||════════|════════|════════|════════|
|**7.**|**Investment income**|||||
||||**Total**|||
|||Unrestricted|<br>**Funds**|<br>Unrestricted|<br>Total Funds|
|||Funds|<br>**2023**|<br>Funds|<br>2022|
|||£|**£**|£|£|
||Bank interest receivable|103|<br>103|<br>–|<br>–|
|||════|════|════|════|
|**8.**|**Other income**|||||
||||**Total**|||
|||Unrestricted|<br>**Funds**|<br>Unrestricted|<br>Total Funds|
|||Funds|<br>**2023**|<br>Funds|<br>2022|
|||£|**£**|£|£|
||Miscellaneous income|–|<br>–|<br>336|<br>336|
|||════|════|════|════|




18 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **9. Expenditure on charitable activities by fund type** 

||||**Total**|
|---|---|---|---|
||Unrestricted|Restricted|<br>**Funds**|
||Funds|Funds|<br>**2023**|
||£|£|**£**|
|South Molton Centre|11,300|53,168|<br>64,468|
|Youth Work at South Molton|–|29,376|<br>29,376|
|Support costs (Governance)|–|1,063|<br>1,063|
||───────|────────|────────|
||11,300|83,607|<br>94,907|
||═══════|════════|════════|
||Unrestricted|Restricted|<br>Total Funds|
||Funds|Funds|<br>2022|
||£|£|£|
|South Molton Centre|20,816|13,186|<br>34,002|
|Youth Work at South Molton|–|27,101|<br>27,101|
|Support costs (Governance)|1,435|–|<br>1,435|
||────────|────────|────────|
||22,251|40,287|<br>62,538|
||════════|════════|════════|
|**Independent examination fees**||||
|||**2023**|2022|
|||**£**|£|
|Fees payable to the independent examiner for:||||
|Independent examination of the financial statements||1,219|<br>1,134|
|||═══════|═══════|



## **10. Independent examination fees** 

## **11. Staff costs** 

The average head count of employees during the year was Nil (2022: Nil). 

No employee received employee benefits of more than £60,000 during the year (2022: Nil). 

## **12. Trustee remuneration and expenses** 

There were no expenses or remuneration paid to trustees in the year (2022: Nil). 


19 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **13. Tangible fixed assets** 

||Long||||
|---|---|---|---|---|
||leasehold|<br>Fixtures and|||
||property|<br>fittings|Equipment|**Total**|
||£|£|£|**£**|
|**Cost**|||||
|At 1 April 2022|1|<br>2,497|1,224|3,722|
|Additions|–|<br>5,667|–|5,667|
|Disposals|–|<br>–|(424)|(424)|
||────|<br>───────|───────|───────|
|**At 31 March 2023**|1|<br>8,164|800|8,965|
||════|═══════|═══════|═══════|
|**Depreciation**|||||
|At 1 April 2022|–|<br>–|424|424|
|Charge for the year|–|<br>499|267|766|
|Disposals|–|<br>–|(425)|(425)|
||────|<br>───────|───────|───────|
|**At 31 March 2023**|–|<br>499|266|765|
||════|═══════|═══════|═══════|
|**Carrying amount**|||||
|**At 31 March 2023**|1|<br>7,665|534|8,200|
||════|═══════|═══════|═══════|
|At 31 March 2022|1|<br>2,497|800|3,298|
||════|═══════|═══════|═══════|



## **14. Debtors** 

Debtors, prepayments, and accrued income 

|**2023**|2022|
|---|---|
|**£**|£|
|50,636|109,955|



════════ ═════════ 

## **15. Creditors: amounts falling due within one year** 

|||**2023**|2022|
|---|---|---|---|
|||**£**|£|
|Other creditors||448|1,094|
|Amounts owed to/ (from):||||
|-|City of Exeter YMCA|(54)|<br>267|
|-|YMCA Exeter Community Projects|15,325|10,034|
|Accruals and deferred income||2,270|2,497|
|||────────|────────|
|||17,989|13,892|
|||════════|════════|




20 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **16. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**|||||
|---|---|---|---|---|
||At|||**At**|
||1 April|||**31 March**|
||2022|Income|Expenditure|**2023**|
||£|£|£|£|
|General funds|23,815|21,040|<br>(8,000)|36,855|
|Building maintenance reserve|8,000|–|<br>(3,300)|<br>4,700|
||────────|────────|<br>───────|────────|
||31,815|21,040|<br>(11,300)|<br>41,555|
||════════|════════|═══════|════════|
||At|||At|
||1 April|||31 March|
||2021|Income|Expenditure|2022|
||£|£|£|£|
|General funds|31,860|14,207|<br>(22,252)|<br>23,815|
|Building maintenance reserve|8,000|–|<br>–|8,000|
||────────|────────|────────|────────|
||39,860|14,207|<br>(22,252)|<br>31,815|
||════════|════════|════════|════════|
|**Restricted funds**|||||
||At|||**At**|
||1 April|||**31 March**|
||2022|Income|Expenditure|**2023**|
||£|£|£|£|
|Centre|922|712|<br>(1,634)|<br>–|
|Youth work|2,178|3,840|<br>(6,018)|<br>–|
|The National Lottery Fund|132,355|–|<br>(75,955)|<br>56,400|
||────────|───────|────────|────────|
||135,455|4,552|<br>(83,607)|<br>56,400|
||════════|═══════|════════|════════|
||At|||At|
||1 April|||31 March|
||2021|Income|Expenditure|2022|
||£|£|£|£|
|Centre|921|–|<br>–|921|
|Youth work|4,821|–|<br>(2,643)|<br>2,178|
|The National Lottery Fund|–|167,606|<br>(35,251)|<br>132,355|
|Other restricted funds|–|2,394|<br>(2,394)|<br>–|
||───────|────────|────────|────────|
||5,742|170,000|<br>(40,287)|<br>135,455|



═══════ ════════ ════════ ════════ 

Restricted funds include contribution towards the overheads of the Centre and the costs of running community work. 

National Lottery Fund relates to a 3-year grant, awarded in June 2021 towards the running of the Centre and delivery of community work. 


21 | P a g e 



**YMCA Centres (South Molton)** _Company Limited by Guarantee_ **Notes to the financial statements** Year ended 31 March 2023 



## **17. Analysis of net assets between funds** 


**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|Total|
|Unrestricted|Restricted|Funds|
|Funds|Funds|2023|
|£|£|£|
|Tangible fixed assets|8,200|–|8,200|
|Current assets|48,626|53,682|107,744|
|Creditors less than 1 year|(15,271)|(2,718)|(17,989)|
|──────── ──────── ────────|
|Net assets|41,555|56,400|97,955|
|════════|════════|════════|
|Unrestricted|Restricted|Total Funds|
|Funds|Funds|2022|
|£|£|£|
|Tangible fixed assets|3,298|–|3,298|
|Current assets|42,409|135,455|177,864|
|Creditors less than 1 year|(13,892)|–|(13,892)|
|──────── ──────── ────────|
|Net assets|31,815|135,455|167,270|
|════════|════════|════════|

**----- End of picture text -----**<br>


## **18. Related parties** 

City of Exeter YMCA is a company limited by guarantee, registered in England under the Companies Act 2006, number 2449636 and a registered charity, number 803226. City of Exeter YMCA is registered with the Regulator of Social Housing as a registered provider of Social Housing, number H3905. YMCA Exeter Community Projects is an incorporated registered Charity number 1162431. Currently the trustees of City of Exeter YMCA 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 Chief Executives of City of Exeter YMCA and YMCA Exeter Community Projects, supported by the senior management team under a service level agreement between the respective organisations. 

During the year the Charity made payments to both YMCA Exeter Community Projects and City of Exeter YMCA, 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. 

YMCA Exeter Community Projects invoices YMCA Centres (South Molton) a management fee for the running of the Centre, £52,090 (2022: £27,528). City of Exeter YMCA charges the Charity management and administration, office costs and publicity and marketing £9,173 (2022: £7,603). The amount charged is at market rate. 

At the end of year, £54 (2022: £267 owed to) was owed by the City of Exeter YMCA and £15,325 (2022: £10,034) 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. 


22 | P a g e 




**Mill Street South Molton EX36 4AS** 

**T. 01769 579547 ymcasouthmolton.org.uk @YMCASouthMolton**