YMCA TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S Company Registration No. 107645791England and Walesl Charity Registration No. 1175323 'AEBTMD• 2510Wd025 COKIPANIES HOUSE
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YMCA TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R I Paters Mr R M Dawson Mr R F Kirkman MrA Keenar7 Mr C Christ IAptKinled 17 June 20251 Secretary Mr G Oalri¢Jge Charity number (England and Wales) 1175323 Company number 10764579 Registered office Unil 2 Olympic Court Ihhitehills Business Park Blackkwl Lancashire FY4 5GU Independgnt examiner Champion ACuntantS LLP Unil 2 Olympic Court Vthrtehills Business Park Black[1 Lancashire FY4 5GU
YMCA TRUST CONTENTS Page TfUStees' report Independent examinefs Fx)rt Statement of financial activrties Balance sheel Notes to the finanual ststements 7-15
YMCA TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present thwr annual report &xl finawal statements for the year eIed 31 Mwch 2025. The financial stslemenls have been prepareil in acc¢Ndance wrth the accounting policies sel out in note 1 lo the financial slalements and comply with the charity's governing d(ument. Ihe Companies Act 20(6. FRS 102 'The Financial Reporting Standard applicable in the UK and Rewblic of Ireland" ano the Charities SORP "Accounting and Reporting ty Charities.. Statement ol Recommended practi appliCae lo charities PTeparirvJ the¥ accounts in acrdanCe with the Financial Reportirvj Standard applicable in the UK arml Republic of Ireland IFRS 1021". Obje¢tlves and activitles The challty5 objectives arise Ic the aceeptarte of the "Basis of unn. adapted by the YMCA in 1973.Yhe Y.M.C.A. seeks to unite those unto. regarding Jesus Christ as their God ar Sawour according lo the Holy scriptu$, desire to be his dEs¢le$ in their farth arKI in their life, arnl lo associate the efforts lor the extension of his Kingdom". Any difference of opinion on other subjects, knver important in themsefves. shall not interfere with the harmonious relation of the Associations of the Y.M.CA. Movement of England. Ireland and Wales. Accordingly the objeth'ves of the charity are.- il To unite those who, regarding Jesus Christ as their Gfxy and Sawour &cordirhg to the Hoty Scriptures, desire to be his disciples in their faith and in their life. and to assooate their efforts for the e¥tensTron of his Kingdom. ill To lead youThJ people to the Lord Jesus Christ and to the fullness of life in Him. iiil To provide or assisl in the provision in the interests of social weware of facrfitses for recreation and other leisure me occupation for men and women with the objecl of improving their cor¥Jrtion of life. N) To provide or assist in the prO$10n of education for persons of all ages wth the obJ"e(a of devek)ping Ihwr physical, mental or sritUal Capacilies. vl To relieve or assist in the relief of persons of all ages are in conditi.ons of need, hardship or distress by reason of their social, physical o¥ economic cirCumstans. vil To provide residents.al accomm(x1ation for persons of all ages who are in corKlits"ons of need. hardship or distress by reason of their w31, physical or economic arcumstsn¢es. The ITvslees have paid due regard to gUIdae isSLd by Ihe Chaity Ctynmission in deciding what acbvilies Ihe eharity should undertake. Achievements and performance The Trust has continued lo rent its propety Fthfoh'o lo Ihe exisling tenanl. whith is YMCA Fylde Coas( who operate Ihe properties in pursuit of charitae objects thatrare aligned to YMCA Trust. During rhe year, the charity sold rts treehold Mrteresl in North Camp at YMCA Lakeside. The freelK•ld at South Camp has been retained ar)d eontinues lo be leased to YMCA FY Coast the delivery of hib quality outdoor education experiences. Via these renl818greemeftts. the Lakeside tryerty welcome5 over 7.000 young people lo its outdoor education offer. over 400.000 make use of leisure facilrtie5 in Fylde and 100 young peOe are offered sale ard secure a0mMOdation.
YMCA TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review The financial statement show a net deficrt for the year of £297.82412024 '. suwus £140.845}. The deficrt has been incurred as a result of the sale of North Camp freehdd at a figure lower than the previous vahJalion held in the accounts Certain residential proFerties have a150 suffered a fall in valuation. This deficit B all unrestricted and funds carried forward comprise Ue5Cted funds of £5.571.109 (2024 .. £5,868.9331 and reslrided funds ol £558,27012024 £558.270). he levd of reserves is ¢Jeemed appropriate and Aill be monitfxed thr(Auhcxrt the year by trustees. The trustees have reviewed the long term financial ptIOn of the charity and have considered cash flow required to meet bank loan requirements. Ongoing income 15 sufficient to meet operating costs aTrJ all anticipated expenditure. The trustees are thereftxe of Ihe opinK)n Ihat the tharity can continue to operate on a g(Mng concem ba51S. The charity's reserves policy is that unresl¥icled fvnds which have not been desi9nated for Specific use should b maintsined al a level Ihal allows thebod to I¢r develop the oLI'e¢ts of the charity. The trustees have assessed the major risks to the Chanty is exsed, and are salisfied that systems are in place to miltye exposure to the mapr iisks. The trustees have resdved to continue the review of the charity's built assets to ensure that ils resources are being used in Ihe most appropriate way. As a pri. rts owned hou51rig stock will be reviewed, w¢lh any proposals beiThJ dealt with by the Board of Trustees. Structure. govefnance and managemènt The charity Is a company limrted by guafanlee fomied on 11 May 2017 an¢J obtaining registered charity ststus on 24 October 2017. The company is governed by its Memorandum & Articles ofAssocialion. The trustees have undertaken work during 2024125 to determine that its legal structure and associaled govemance is still appropriate. A review of theArticles ofAssctiati"on V•ill lake Fdace during 2025126. Mr C Holl, Chairman, passed away in Jantlary 2025 the charity rec¢Yds its stncere thanks to Mr Hott for the SeThI he gave lo the charity. Mr C Christtyj was appointed a tntstee in June 2025. The trustees, who are also the directors for the purpose of company law. and who seNed during the year and up to the dale of snatUre of the financial ststements we". Mr C Hoh MBE Mr R I Paterson Mr R M Dawson Mr R F Kirkman Mr A Keenan Mr C Chrisl¢xJ {ReW 26 January 20251 (Appointed 17 June 2025) Trustees meet a minimum of four times a year lo VIeW wogress against strategy. detefmine aFvopriale use of charitable resources at7d assess risk_ New trustees a paty lo an induction pn)gramme ffiich indudes infom181ion about the YMCA movement, its history. vision and mission. 11 also indudes infomabon on the legal responsibilities of trustees and directOTS, as sel OLrt in the Charity Commissions Essentia Trustee" guida and compan House guidance (*xuments. None of the Iruslees has any beneficial interest in the cc¥npany. All of the tnjslees we members of the company and guarantee lo contribute £1 in the event of a wnding up.
YMCA TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees. report was approved by Ihe Board of Trustees. Mr A Keen•n Trustee Dated". 23 September 2025 .
YMCA TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YMCA TRUST I report to the truslees on my exInatIon ol the finanual ststements of YMCA Tnjst (tt)e cliarity) for the year ended 31 Mafch 2025. Responsibilities and basis of report As the trustees of the charity land also its directors for the purposes ol company law). yc4J are responsible lor the weparation of Ihe nanCIal statements in acccdance wilh the requirefflent5 of the companSAct 2006. Having satisfied myself that the finanaal statements of the chity are not reqred to be audited under Part 16 of the Companie5 ALI 2006 and are eligible for independent examination. I reKKJrt in respect of my examination of the ch8r"ty's finanoal s13lements carried out under section 145 of the Chanties Act 2011. In carrying out my examination I have followed the Direcbons swven by the Chty Commisgon uler section 14515)(b) of the Charities Act 2011. Independent examinerfs statement I have compleled my examination. I confirm thai no matters have come to my attenb.on connection with the examination giving ine catjse lo lIeVe that In ahy material respect- accounting records were not kept in resped of the chanty as required by section 386 of the CoMpanS Act 2006. the financial stalements do not acrd tylh those rernrds,. or the finanaal statements do not compty wrth the accounting requirements of Section 396 of the ComFonie5 Act 2006 other than any Ul(eMent that Ihe finanual stalements give a true and fair view. which is n( a matter cor15idered as part of an ipendent examinatK)n'. or the financial statements have not t)een wepared in &cordance the fflelhods and principles of the Statement of Recommerbded Pracb"ce fof accounting and reFANting by charil*s applicable to chanlie5 preparing their financtral statements in ¥cordance with the Finla1 Reporting Standard applTr¢able in the UK and Republic of Ifeland {FRS 1021. I have no ¢oncems aThJ have come acTOSS no olher matter5 in conneclKJn wth the examination to which attention Should be drawn in this rewt in order to enable a proper UlerS1aTrdlng of the finarla1 5ts1ements to be reached. Champion Accountants LLP Unil 2 Olympic Court itehills Business Park Blackpo Lan¢ashire FY4 SGU 23 September 2025
YMCA TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unwestri¢ted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Investments 7,5 162,791 50 154.252 162,791 154.252 Total income 170.291 170.291 154.302 154,302 Expenditure on- Charitable a¢liwties Other eypenditure 15.936 38,601 15.936 38,601 13.746 39.693 13.746 39,693 Total expenditure 54.537 54,537 53,439 53,439 Net gainslllossesl on investments 10 1413.578) (413.5781 39.982 39,982 Net incomellexpenditvrel and movement in funds {297.8241 1297.8241 140.845 140,845 Reconciliation of funds- Fund balances al 1 April 2024 5,868.933 558.270 6.427.203 5.728.088 558.270 6.286.358 Fund balances at 31 Mah 2025 5.571,109 558.270 6.129.379 5.868,933 558,270 6.427,203 The statement of financial activities indudes am gainsd losses recc3ntsed in the year. All irthme and expenditure derive from conts'nuing a¢tiMlies.
YMCA TRUST BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Fixed assets Investment propety 13 4.572.868 5.868,000 Current assets Debtor5 falling Llue after one year Debtors falling due wlhin e y&w Cash al bank and in hand 14 14 64.710 30,870 2.081,454 75.233 34.464 1.271,815 2.177.034 1.381,512 cdIto." amounts ffalliJJg due within anè year 16 {129.5511 (304,4101 Net ¢urrenl asset$ 2.047,483 1.077,102 Total assets less current liabilities 6.620,351 6,945.102 Cweditors: amounts falling due after more than one year 17 (490.9721 1517,B991 M•t a$sots 6,129.379 6,427.203 Income fund5 Restricted funds Unrestricted ndS 18 18 558.270 5.571,109 558.270 5.868,933 6.129.379 6,427,203 The company is entitled lo the exemptifx) audit wuiremenl contained in section 477 of the Companies Act 20C6. for Ihe year ended 31 March 2025. The directors a¢knovAedge their sponsIbl1.es for comth'ry wikn the re(wirements of the Comparries Aet 2006 th re5peet to 8ccounling words and the weparation of financol statements. The members have not required the company to obtain an audil of rts finanual statements for the year in question in accordance wlh secl*)n 476. These ffinancial statements have weped in accordance 7•thh the provisiS aPFAlcab to Companies subject lo the small companies regime. The financial statements approved by the Tw5tees on 23 Septemter 2025 MrA Keenan Trustee Company registration number 10764579
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity infommtion YMCA Trust is a private company Irmiled by guaontee rtorwiTrted in England and Wales. The registered office is Unit 2 Otympic Court. rtehi1l5 Business Park. BlackpxxA. Lar&#shire, FY4 5GU. 1.1 Basls of preparalion The financial 5ts1emenls have been prepared in accorda wrth the chariVs goverriing dMent, the Companies Act 2006. FRS 102 Tr Financial Repoth'ng Standard applicae in the UK and Republic ol Ireland" and the Charities SORP 'A¢c(yJnting and Reporting by Charities.. Statement of Recommended Practsce applicable to chariti'es p[epari th"r accounts in accordance with the Financial Reporting Standard applicable in the UK and Repu1¢ of Ire IFRS 1021". The chanty is a Public Benefit Entity as defined by FRS 102. The charty has taken ad¥anta9e of Ihe pro¥isions rn the SORP for charities not to prepare a statent ol cash flows. The financial stalemenls are Prepa in steding. wthich IS the f)ctional osrrency of the charity. Monetary arrM)unls in tw finan¢i& slatemenls are rounded to the nearest £. The financial statements have been Fffepared under the historical cost convention, Imtyjified to include the revaluation of freehold properties and to indude investment propertte$ certain financial instrLmenls at fair valuel. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approviTrJ the financkil Statements, the trstee5 have a reasonalje expectation that the charity has adequate res(iurce5 to continue in operational esten l(x the foreseeable future. Thus the trLslees contsnue lo aLlopl the wng cCeM basis of aunrj in preparing the finanoal stalements. 1.3 Charitsble fvnds Unrestricted frJn¢Js are availaUe for use at tr discrelion -of ts trustees in furtherance of their charitable objectives. Restrted fvjnds are subject to specific condilions by donors or grantcws as to hjw they may be used. The purposes uses of Ihe restricted fuTrJs are set out in the notes lo the financial slatements. Endowment funds are subject to speofic COtiOnS by dOr$ that the wlal must be maintsined by the charity. 1.4 Income Income is recognised %then the dwrty is legalty entitled to it after any perfonnance conditnS have been met, the amounts can be measured relbty. and it is wbabte that ints)me V•ill be received. Cash donations are recognised on receipt. Other donat)ns are recognised once the charity has been notified of the donation. unless perf0MnCe eondth"¢)ns require deferral of the amount. Income tax recoverable in relalion lo donations recEived under GIft"d deeds of covenant is recogni5ed at the lime of the donation. Renkl income is recognised when receNable.
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles Icontinuedl 1.5 Expenditure Expenditure is recognised once Ihere is a legal or constructrve obligation to transfer economic benefit to a third paty, it is probable Ihal a transfer of economic benefrts will be required in setuement. and the amount of the obligation can be measured reliably. Expendrture is ¢lassthed by actty. The costs of each acttvrty are made up of the total of dIrt costs and shared costs. iluding suprK)rt u)sts inVoed in undertaking each aclivity. Direct ¢osts attribLrtatrJe to a single activily are allocated directly to that acbvty. Shared c0515 which contribute to more Ihan one activity and 5UPPOrt costs which are rL attribLrtable lo a single aclivty are apportioned beeen those ath"vitEs on a basi5 consisleni w.th the use Df resouices. Central staff costs a allcted on the basrs of tsme spent, and depreuation charges are allcKated on the [)"0n of the assefs use. Resources expended are recognised M an CnlS basis aTrJ are dassified under headings that aggregate all costs retaled to the category. 1.6 Investmènt property Investment property, which 15 property held to eam rentals andlor ts capital appreciation, is initially recognised al cost, which indudes the purd)ase Cost and any dire¢tly attritsrtable expenditure. Subsequenlly il is measured at fair value * Ihe reporting end date. The surplus or defial revaluation is renised in profit or loss. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposrts hekl al cèl with banks. other short-terni liquid investmenls wth original maturitie5 of three months or less, ar bank ovetdrafts. Bank overdrafts are shown thin borrowng5 in Curn1 liabilrties. 1.8 Financial instrurnents The ¢harty does not have aiy financial inslnwnents at the-Balance Sheet dat?. 1.9 Employ•e bener The cost of any unused holiday enb"Ilement is recognised in the period in whth the employee's seNices are received. Tem)inalion beneffts are recognised imme(Ikotely as an expense then the charity is demortslrabfy commilted to lefminale the employment of an employee or to wovide terminatson.benefils. Critical accounting estimates and judgements In Ihe application of the charrty's accountir¥J polies, the trustees are required lo make judgements. esbmates and assumptions about the carrwng amount of assets and liabililies that are not readily apparent from other source5. The estimates and assoaated assumption5 are based on historical exFerbence and other faorS that are considered to be relevant. Actual resums may differ frc¥n these e5timales. The estimates and underfying assumptions are reviewed on an orwng basis. Revisions lo a¢ntIng ests"males are Tecogniseo in the perithy in Ithith the estimate 15 revised where the revision affects rmly thal period, or in the period of the revision and fLrture pencrf1s wtwe the rewsion affects both current and fulure pefK4Js.
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts 7,5¢)0 Income from investments untricted Unrestricted funds funds 2025 2024 Rental income Interest receivable 136,340 26.451 136.340 17.912 162.791 154,252 Expendllure on charitsble activities Charitsble expenses 2025 Charitable expenses 2024 Direct costs Bank charges Irrecoverable VAT Legal & professiond fees Sundry expenses 118 5,300 7.531 11)) 1,156 8,631 12,949 9.894 Share of support and governance costs (see note 7) Goveman 2,987 3,852 15.936 13,746 Analysis by fund Unrestricted funds 15,936 13,746
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Net movement in funds 2025 2024 The net movement in fvnds is sLed after charg1(Cred.r)". Fees payable lor the independent examinalion of the chaW5 fnancial statements Profit on disP05al of investment property 2.987 122.9721 3.852 139,9821 Support costs allocated to activitles 2025 2024 Govemance costs 2,987 3,852 Analysed between: Independent examiners fees 2,987 3.852 Trustees None of the trustees lor any persons connected vnth twil [1ved any remuneration or benefits from the charity during the yew. Othei expendltu Unrestrkted Unrestricted funds funds 202$ 2024 Financing costs 38.601 39.693 10 Gains and losses on investments Unrnstri¢l•d Unrestricted funds funds 2025 2024 Gainsl{losses) aring . Revaluation of investment properts Sale of investment properties 1436,5501 22.972 39,982 1413,578) 39,982 The gain on the sale of an investment wopety is ty refererKe to the ¥aluation induded in the accounts al the prior year end. 10-
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employees The average monthly Nmber of employees during the year was". 2025 Number 2024 Number Totsl 12 Taxatlon The charty is exempt from taxalK)n on ts activitS because all its income is appl for charitable purposes. 13 Inveslment property 2025 Fair value At 1 April 2024 Additions through extemal acquisit Disposals Nel gains or losses through tsir value adjustments 5,868,O¢XI 186,418 11,045.0001 (436.5501 At 31 frAarch 2025 4.572.868 Investment property comprises a portfolio of various properb.es rented lo Fylde Coast YMCA for charitable purposes. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 January 2017 by Bushells & Benstead Chartered SuTheyors. who a not conrwled wlh the tharity. The valuation was made on an open market value basis by reference lo market evidence ol transaction pri¢es for similar pr¢)perties. A subsequent valuats)n was rried out by Charity Bank rtain residenbal properb'es. Valualjons have been subsequently carried 1 by Ihe Trustees on the same basis. The historical cost of investrnent properties amounted to £3,029.006 (2024". £3.635.0131. 14 Debto 2025 2024 Amounts falling due Y4ithin one year: Other debtor5 Prepayments arKI accnjed income 30.870 20,347 14,117 30,870 34,464 11
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Debtors Icontinuedl 2025 2024 Amounts falling due after more than one year Other debtors 64.710 75.233 Totsl debtors 95.580 109.697 Other debtor5 indudes an unsecured loan made to anottr charity which is repayable over 12 years W¢th a interest rale of 3.1 Oh. An amwnt of £33.660 is due wrtfv"n one year and £64.710 after MO than one year. 15 Loans and overdraft5 2025 2024 Bank loans 514,532 534,271 PayatAe within one year Payable after one year 23.560 490.972 16,372 517,899 Amout7ts included above which fall due after fNe years.. Payable by instalments 396.699 452.410 The long-lerm loans are secwed by fixed charges over seven properties owned by the charity. The bank loans are repayable over varwry periods a Capital and interest basis. expiring bee* 2032 and 2043 . 16 Creditors: amounts falling due within one year 2025 2024 Notes Bank loans Other taxats.on and social seojrity Trade creditors Other credilors Accruals arKI deferred income 15 23,560 2,950 16.372 1.517 138 275,189 11,194 99,147 3,894 129,551 304.410 12-
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Creditors: amounts falllng due after more than one year 2025 2024 Notss Bank loans 15 490.972 517.899 The bank loans are repayable over ¥arn9 Fer on a ca* aTrJ interest basis, expiring belween 2032 10 2043. 18 Restricted funds The restricted funds of Ihe charity comwse the unexpended balan$ of donatsons and grants held on trust subject to specffic corKlilions by dorKJrs as to how they may be used. At 1 April At 31 Mareh 2024 2026 Paterson House development 558.270 556.270 PViouS year: At 1 April At 31 Ilarch 2023 2024 Paterson House development 558.270 558,270 The Paterson House development rektes to the construction of 12 sell contained apartments which are Affordable Rented Housing or Social Rented H¢yJsing lo tenants up lo the age of 25. The development VAS gfant funded which has been fvlly expended and the property is now hekj as an investfflenl asset. The restricted lun(I balae will thefore (Mly be reduced rf the pyopety is subject to mnent dimanutK)n in value. 19 Unrestricted funds The unrestricted funds of the chafity comprise the unexpended balances of ¢S)nations and grants which are ftol subj.ect lo specific conditions by dOS and grantors as lo how they may used. These include designated funds %ich have been set aside (Mrt of unrestricted funds by the tntslee5 for specific purposes. At 1 April Incoming Resources 2024 reSou¢S expènded Galns and At 31 March losses 2025 General fu15 5,868.933 170.291 154,537) 1413.578) 5,571,109 Previous year: At 1 April 2023 Incoming resources Resources expEnded Gains and At31 March 105se$ 2024 General fund5 5.728.088 154.302 153,439} 39,982 5,868,933 13-
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Analysis ol net assets between funds Unrestiicted funds 2025 Restricted funds 2025 Total 202S At 31 March 2025: Investment properties Crn¢ assets/llKqbi&'tiesl Long lerni liabilitses 4.014.598 2.047.483 {490.972} 558,270 4.572.868 2.047,483 {490,9721 5.571,109 558,270 6.129,379 Unrestricted funds 2024 Restricted fvnds 2024 Total 2024 At 31 March 2024: Investment properties Current assetsllliabiliti'es) Lon9 term liabilities 5.309.730 1.077.102 1517.8991 558.270 5,868,000 1.077,102 1517,899) 5.868.933 558,270 6.427,203 14-
YMCA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Financial eommitments. guarantees and contingent liabilities The Trust received sJoAats"ons of VariS land and txjildings Irom Lytham St. Annes & Fylde Young Mens Christian Assoeialion. some of whth We subje(a to ¢¢tingent liats'lities which have been signed over to the YMCA Trust, which now be8rs the potential (KvJorng Irabilty. These are detailed below. Properties originalty acqui by the ASslatIon thjring the year ended 31 March 2)8 at a cost of £466.200, were acquired with the aid of £239.105 of commLrted sJJms from Fylde Borough Council. Should the properties ever be sold without being repl or not untinue lo be OCCUFMed under Ihe fvnding condrtions then this funding w(yJld be repayae. No pfovi5ion has been rnade for any potential repayment as il is N)t antieipaled that the properties wou]d be in the ftye5eeable futu. The Association recVed grants of £450,158 in the year ended 31 March 2017 and £112,539 in the year ended 31 March 2018 from Fylde Borough Council towards the cost of the Palerson House development. These grants wll be repayable rf dwellings wthin the ¢Jevelopment are Occup other than as Affordable Rented Housing ¢Y Sooal Rented Housing, or the Trust makes any disrK)sal of ils Inte$1 in the development which is not a diswsal as a whole. or a dis[saI of the whole thout notification to the Counul in the peri¢xl to 8 August 2056. The Twuslees do not inlen¢J to lxeach the lemis of Ihe grant a1 Iherefore no conlrynl lia'lty has been re¢ogni5ed in the accounts. At 31 March 2025 the Trusl had annLk* commitments under nOranCele operatiThJ lease5 fLY buildings of £1 per annum The total remaining liabilty amcyjnls to £7512024.. £761. The financial commitment rektes to 99 year lease on the Lofthouse Buikling, Fleefvu)od, given by the Lofthouse family in November 2001. VVThlh effect from l Apfil 2003 the buildin9 has been leased to the Fykle Coast YMCA for 25 yeais at £1 per annum. The Trusl 1$ party to a guarantee for a bank loan in FY Coast YMCA which is secured on land held by the Trust along wilh assets thyned by Fylde Coast YMCA. The maximum liability arising WKler thi5 guarant Fs £NIl12024.' £3.281.156}. 22 Related paity transactlorts Transactions with related parties During the year Ihe charrty entered into the followiThJ &tiOnS with rdated parties.. The Charity i5 connected the Fylde Coast YMCA. During Ihe year the charity received rent of £136,340 12024..£136.340} and al the balance sheet dale an amount of £99.147 was ¢Ned to the charity 12024.. £275,189) 15-