- cjorset o••• •••• accountancy Portland Red Triangle Young Men's Christian Association Annual Report and Financial Statements For the Year Ended 31 December 2024 Charity Registered in England and Wales Number: 1170011
Portland Red Triangle Young Men's Christian Association Contents For the Year Ended 31 December 2024 Reference and Administrative Details Trustees, Report Independent Examlnerfs Report Statemenl of FinancialActivities Balance Sheet Notes to the Flnancial Statements 8-14
Portland Red Triangle Young Men's Christian Association Reference and Administrative Details For the Year Ended 31 December 2024 Trustees P Warren T Morrison A Reed D Bush A Burrows M Eden (Chair) Co•ordlnator A Spenr Prlnclpal Offlce YMCA Club Reforne East¢)n Portland Dorset DT5 2AN Independent Examln•r D Rudd FCA Dorset Accountancy Limited Unit 2.11, Cty & Provincial House Surrey Close Weymouth DT4 9GD Status Charity Registered in England and Wales No 1170011 Produced by Dorset Accountancy Page 1
Portland Red Triangle Young Men's Christian Association Trustees. Report For the Year Ended 31 December 2024 The trustees wesent their report and unaudited financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and compty wrth the charity's governing document and Accounting and Reporting by Charrties: Ststement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). The CIO was registered with the Charity Commission on 3 November 2016 and on 1 January 2018 the trade and assets ofPortland YMCA. an unincorporatedcharty (charity number 800484) were transferred intothe CIO. The CIO is therefore continuing this trade and assets arKI Sin the activities of the charity have remained Ihe same throughout, the accounls have been treated as ifthe CIO had always been in existence. Commlttee The committee members (trustees) named on page 1 were appointed to serve for 2024 and to date. Appointment ofcommittee members is governed bythe constitulion ofthe charrty. The committee hasthe power to CO-OP UP to two additional members to serve until the Annual General Meeting and to fill casual vacancies until the Annual General Meeting. The committee seeks to ensure that the needs of the charity are appropriately reflected through the diversty of the trustee board. Trustees are recruited by way of social media, advertising and word of mouth. Inductlon New committee members undergo an induction and are supplied with a trustees pack supplied by YMCA England to inform them of their responsibilities under charity law while the board of trUStS help them understand the business and operation of the charlty. Investsnent powers The constitthion does not provide authorisation for the trustees to make and hold inveslments. Constitlon. objects and pollcles The Charitable Incorporated Organisation (CIO) is governed by its conslitution adopted in 2017 and its objectives are to lead young people to the Lord Jesus Christ and to fullness of lrfe in Him and to provide or assist in the provisK?n in the interests of sochql welfare of facilities for recreation and other leisure time occupations for men and worren with the object of improving their conditions of life. Pay Pollcy for Senlor Staff The Irustees consider the CordInatOr as key management personnel. The C(ordinator undertakes the day to day management of the charity, and as such, the salary reflecls Ihe importance of Ihe post and is agreed by the trustees annually. Produced by Dorsel Accountancy Page 2
Portland Red Trlangle Young Men's Christian Association Trustees, Report For the Year Ended 31 December 2024 Publlc benefft ststement In planning our activities for ihe year the Trustees kept in mind the Charity Commission's guidance on public benefrt at every meeting. Wrth the help of the Co-ordinator the Trustees try to provide a wide variety of activities for people of all ages, genders, race or faith. These include fftness Iraining. exercise classes for a variety of age groups, art classes and a mother and toddler group. The trustees presently employ 6 part lime staff and 9 volunteers to help with Ihe day to day running of the charty. The employees work very hard and keep the charty running very smoothly for which the trustees are extremely grateful. Achlevements and perfomiance In 2024. under the heading of future developments. It was proposed to find space for the Charity Shop to fulfil its potentl81 In a more organised way. It was agreed that the best way forward was to move the Cardio room to the Ladies changing rooms and use the vacated room for the Charity shop. This would entail major structural alterations to the changing rooms so quotes were obtained and the Board Members selected a builder and he will commence work in the autumn of 2025. The Dance studio has been decorated and LED coloured Ilghts fftted. new fl¢)oring VRS also laid. It gives il a nice atmosphere. Flnanclal Revlew The charity received total income of £126.765 during the year compared with £102.293 In 2023. Charitable activities increased again during the year. they were £120,387 (2023: £98,920). Total expenditure increased to £111,871 (2023: £100.822) and is mainly due to increases in repair and maintenance and an Increase in wage costs. The charty has made an ovefall surplus for the year of £14,894 (2023: 1,471) Future developments At thls present time no major future developments are in the pipeline. We will be purchasing a couple of ballet barres for our dance studio from the funding we received from Court Leet. We will concenirate this year trying to recruit new Members to the Board, arranging new activrties and push ahead with fund raising Produced by Dorset Accountsncy Page 3
Portland Red Trlangle Young Men's Christian Association Trustees, Report For the Year Ended 31 December 2024 ReseNes policy At the year end the charity has total reserves of £423.342 of vthich £330.284 are presented by Land, buildings and equipment used to deliver the charity's charitable aims. The remaining reserves are £93,058 which include designated reserves of £48,607 and £44,451 of general free reserves. Reserves are provided to ensure the financial stability of the charity and the ability for it to meet its charitsble objectives for the foreseeable future. The mvement in reserrfes is shown in the notes to the accounts. If for any reason, there was a fall in incorne the trustees felt we should have a reserve in pla to cover the running costs of the club and future unforeseen maintenance requirements in relation to land, buildings and equipment. Of the designated reserves £33,607 equates to approximately 4 ffK)nths' operating expenditu and £15,000 relates to buildings and equipment repairs and maintenance. Rlsk management A previous Health and Safety ofter on Ihe committee, Mr Chris Perrett. has put in place a solid risk assessment for the building. The Irustees are also satisfied with the operation and financial side and there is a sound system in place lo mitigate our exposure to such risks. Statsment of trustees. responslbllttles Thetruslees are responsible for preparing theTrustees' Report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable inthe UKand Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}. The law applicable to charilies in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements. the trustees are required lo: select suitable accounting policies and then apply them consistently; observe the MhOdS and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent. stste whether applicable accounting stsndards have been followed. subject lo any material departures disclosed and explained in the financial statements. and prepare the financial ststements on the going concem basis unless it is inappropriale to presume thal the charity will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any time the financial positi'on of the charty and enable them to ensure that the financial statements compty with Ihe Charities Act 2011. the Charity (Accounts and Reports} Regulations 2008 and the provisions of the trust deedlconstitution. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on .l.0/4.Pn l 2025 . and sned on their behalf by: D Bush Truslee T Morrison Trustee Produced by Dorset Accountsncy Page 4
Portland Red Triangle Young Men's Chrfstian Association Independent Examiners Report For the Year Ended 31 December 2024 I reportto the trustees on my examination ofthe accounts for Portjand Red Triangle YMCA ("the charity") forthe year ended 31 December 2024. Responslbllttles and basls of report As the charity trustees of Ihe charity you are responsible for the preparation of the accounts in accordance with the qUIrementS of the Charities Act 2011 ("the 2011 Act"). I report in respect of my examinalion of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examonerfs ststement I have completed my examination. I confirm thai material matters have come to my attention In Gonnection wlth the examination giving me cause to believe thal in any material respect: accounting records were not kept in respect of the charty as required by section 130 of the 2011 Act; or 2. the accounts do nol comply with these records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 olher than any requirement that the accounts give a 'true and fair viw which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examinatSon to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Daniel Rudd FCA Unit 2.11, City & Provinclal House Surrey Close Weymouth DT4 9GD Produced by Dorset Accountancy Page 5
Portland Red Triangle Young Men's Christian Association Statement of Financial Activities For the Year Ended 31 December 2024 Unres- tricted Res- trkted 2024 Total Unre8- tricted 2023 Total trlcted Notes Income from: Donations Charitable acllvities Other trading activities Investment income Grant income 4,569 120,387 1.032 777 4.569 120,387 1,032 777 1,707 98,920 1,102 564 1.707 98,920 1,102 564 Total Income 126,765 126,765 102,293 102,293 Expendlture from: Expenditure on charitable activities 111.871 111,869 100,822 100.822 Total expendlture 111.871 111,869 100,822 100,822 Not Incomel(expenditure) I494 14.894 1,471 1,471 Transfers between funds Net movement In funds 14,894 14,894 1,471 1,471 Reconcillation of funds Fund balances at 1 January 2024 408,448 408.448 406,977 406.977 Fund balances at 31 December 24 423.342 423,342 408,448 408,448 All incorning resources and resources expended derive from conlinuing aclivities. Produced by Dorset Accountancy Page 6
Portland Red Triangle Young Men's Christian Association Balance Sheel As at 31 December 2024 2024 2023 Note Fixed Assets Tangible Fixed Assets 330,284 334,301 Current a880ts Debtors Cash at bank and in hand 2.236 94,186 2.385 73.657 96,422 76,042 Amounts falllng due withln one year 10 {3.364) (1.895) Net Current A888ts 93,058 74,147 Net A88ets 423,342 408,448 Fund8 Unrestricted: General Designated 374.735 48,607 359.841 48.807 Restrlcted 423.342 408,448 Total 11 423,342 408,448 Approved by the Trustees for issue on .. D Bush Trustee T Morrlson Trustee Produced by Dorset Accountancy Page 7
Portland Red Triangle Young Men's Chrlstian Association Notes to the Financial Statements For the Year Ended 31 December 2024 Accounting policles 1.1 Basls ofpreparation The financial statements have been prepared in accordance with Accounting and reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015F {Charities SORP (FRS 102)). The chartty meets the definition of public benefrt under FRS 102. Assets and liabilities are initially recognised athistorlcalcostoitransacn value unless otherwise stated inthe relevant accounting policy. From 1 January 2018. the charity transferred all of its net assets and activities from Portland Red Triangle Young Men's Christian Associalion (charity no 800484) lo the CIO. Portland Red Triangle Young Men's Christian Association (charity no 1170011). The CIO is therefore continuing this trade and assels and since the activities of the charty have remained the same throughout, the accounts have been treated as if the CIO had always been in existence. 1.2 Flxed assets and depreciatton Fixed assets are stated at cost less accumulated depreciation. Depreciation is not provided on land and buildings as ihe property is maintained in a continual slate of sound repair and has a residual value not materialty different from the amount the property is included in the accounts. The Commrttee also consider that the remaining useful lrfe of the property is more than 50 years and therefore the depreciation charge woukl be insignificant. For other assets. deprecialion is provided at rates calculated10 write off the cost less estimated residual value of each asset over its expected useful life. as follows: Sports equipment Equipment 15% reducing balan. 15% reducing balance. 1.3 Income Donalion and legacy income is recognised on a cash basis, in the year in which the income is physically received. Income generated from charitable activities. including memberships. is recognised in full at the date of entitlement. Income from other trading activities is recognised in the period in which the chanty is entitled to receipt. 1.4 Expendlture Resources expended are included in the Statement of FinancialAclivities on an accruals basis. Liabilities are accounted for in Ihe accounting period to which they relate. Charitable activty is the cosl of running the general purpose of thecharity and includes both costs relating to activities provided. along with administration costs. Govemance costs are those costs associated with the governance arrangements of thecharity. and are included wrthin expenditure on charitable activities. 1.5 Debtors Trade and other debiors are recognised at the settlement amount due and prepayments are valued althe amount prepaid. ProducedbyDorset Accountancy Page 8
Portland Red Triangle Young Men's Christian Association Note to the Financial Statements For the Year Ended 31 December 2024 Accounting policles (contonued Cash and bank in hand Cash at bank and in hand comprise of cash on hand and call depostts. and other short-temi highly liquid investments that are readity convertible to a known amount of cash and are subjecl to an insignificant risk of change in value. Cred5tors Creditors and provisions are recognised where the charity has a present obligation resulting trom a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be rrEasured or eslimated reliably. Creditors and provisions are recognised at their settlement amount. Fund a¢¢ounting General funds are unrestricted furKls receivable or generated for the objects of the charty without further specified purpose and are available as general funds. Restricted funds are to be used for specffic purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund. Designated funds are funds set aside by the committee out of unrestricted general funds for specific future purposes or projects. Income from charitable activities Unr•s- trlcted Totsi 2024 Unres- trlcted Total 2023 trlcted Subscriptions Hire of hall Hire of sports facilities Mother & baby group Fundraising Accommodabon Refreshments Charity shop 5,577 27.495 14.603 2.241 2,849 51,797 620 15,205 5,577 27,495 14.603 2,241 2.849 51.797 620 15,205 5,911 25.721 12.932 2.631 4,206 41,277 961 5.281 5,911 25,721 12,932 2,631 4,206 41,277 961 5.281 120.387 120,387 98.920 98,920 Produced by t)orsel Accountar Page 9
Portland Red Trlangle Young Men's Christian Assoclatlon Notes to the Financial Statements For the Year Ended 31 December 2024 Expendlture on charltableactlv5tSe8 Unre8- trlcted Res- tricted Total 2024 Unres- trleted Res- tricted Total 2023 Wages Rates Light, heat & power Water and effluent Insurance Hall maintenance Equipment maintenance Ground rent Poslage and stationery Telephone Advertlslng Cleanlng Provisions Llcences Charity Shop Professlonal Fees Computer software Bank charges Credil card charges Sundry Depreciation of equipment Govemance costs 56.494 488 9,493 1,884 5,128 13,836 4,418 350 559 883 56,494 488 9.493 1,884 5,126 13,836 4,418 350 559 883 48.170 555 8,564 2,039 4,461 5.833 11,271 350 602 761 46 1,947 5,818 48,170 555 2,039 4,461 5,833 11.271 350 602 761 46 1,947 5,818 2,890 2,988 2,890 2,988 687 1.372 664 369 1,055 687 1,372 664 369 1,055 598 235 598 235 4,253 4,062 4,253 4,062 4,961 3,167 4,961 3,167 111,871 111,871 100,822 100,822 Included In governance costs: Subscriptions Legal and professional Audilors remuneratlon Independent Examination fee Accountancy fee 2,886 2,048 1,176 1.119 4,062 4,062 3,167 3,167 Produced by Dorset Accountancy Page10
Portland Red Triangle Young Men's Christian Assoclation Notes to the Financial Statements For the Year Ended 31 December 2024 Net Income 2024 2023 This is stated after charging: depreciation auditors, remuneration: Audit services Other services 4,253 4,962 Particulars ol employees The average number of staff employed by Ihe charity during the period was 4 (2023 - 4). The aggregate payroll costs of the above were: 2024 2023 Wages and salaries Social security costs Pension costs 55.631 47,524 861 646 56.492 48,170 No employee eamed more than £60,000 per annum (2023 - £60.000). The key management personnel of charity comprised the cOrdInator. The total employee benefits received were £21.652 (2023: £16.382). The charity has 9 unpaid volunteers, which contribute towards the day to day running of the club and organisation of the charty's activities. No monetary value has been recognised wilhin the financial statements relating lo the benefrt received from volunteer time. Trustee Expenses No trustee received any remuneration from the charity during the year (2023 - £nil). No expenses were reimbursed to any truslees of Ihe charity during the year (2023 - £nil). There have been no related party transactions during the year (2023". none). Produced by Dorset Accountancy Page 11
Portland Red Triangle Young Men's Chrlstlan Association Notes to the Financial Statements For Ihe Year Ended 31 December 2024 Tanglble fixed assets Land and Sports buildings Equipment Equlpment Total Cost At 1 January 2024 Additions 306,183 68.218 68,592 238 442.993 238 At 31 December 2024 306.183 68.218 68.830 443,231 Depreclation At 1 January 2024 Charge for the period 53,264 2,243 55,429 2,010 108,693 4,253 Al 31 December 2024 55.507 57,439 112,946 Net Book Value At 31 December 2024 306,183 12,711 11,390 330,284 At 31 December 2023 3CE,183 14.954 13.162 334,300 Debtors 2024 2023 Prepayments Other debtors 2,034 202 2,183 202 2,236 2,385 Cash at bank and In hand 2024 2023 Current account Savings account Business Investor account Cash in hand 21,254 26.175 45,894 863 8,454 3,034 61.348 821 94,186 73.657 Produced by Dorset Accountancy Page 12
Portland Red Triangle Young Men's Chrlstian Assoclatlon Notes to the Financial Statements For the Year Ended 31 December 2024 10 Credltors: Amounts falllng due wlthin oneyear 2024 2023 Accruals and deferred incorrke 3.384 1,895 3,364 1,895 11 Fund movements Balance at 1 Jan 2024 Balance at Transfers 31 Dec 2024 Income Expendlture Unre8trlcted funds: General Designated 359,841 48.607 126.765 (111,871) 374,735 48.607 408,448 126.765 (111.871) 423,342 Fund movements Balance at 1 Jan 2023 Balance at Transfer8 31 Dec 2023 Income Expendlture Unrestrl¢ted funds: General Designated 391.977 15.000 102.293 (100,822) (33,607) 33.607 359,841 48,607 406,977 102,293 {100.822) 408.448 The designated fund is sel aside for future development and upgrade of the freehold propety and equipment owned by the charity and lo cover running costs for a four month perh)d as a contingency In the event that the charty's income suffers a reduction. Produced by Dorset Accountancy Page 13
Portland Red Triangle Young Men's Christian Association Notes to the Financial Statements For the Year Ended 31 December 2024 12 Analysls of nat assets batw•en funds - 2024 Unrestrfcted Unrestricted Restricted general deslgnated funds funds funds Total 2024 Tangible assets Debtors Cash at bank and in hand Creditors due within one year 330,284 2.236 45.579 (3.364) 330.284 2,236 94,186 (3,364) 48.607 374.735 48,607 423,342 Analysls of net assets between funds - 2023 Unrestricted Unrestricted general designated funds funds Restrlcted funds Total 2023 Tangible assets Debtors Cash al bank and in hand Creditors due within one year 334,301 2.385 25,050 (1.895) 334,301 2,385 73,657 (1,895) 48,607 359,841 48,607 408,448 Produced by Dorset Accountancy Page14