REGISTERED CHARITY NUMBER: 1194591
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal objective of the charity will be the provision of support and services to the young people of Aber-Valley and the surrounding areas. We will assist in the provision of social welfare facilities for recreation and other leisure time occupation for men and women with the objective of improving their conditions of life. To this end, the charity operates a full and varied programme of events designed to benefit the public with activities for everyone in the community of all ages male or female.
ACHIEVEMENTS AND PERFORMANCE
In planning our activities for the year we have considered the Charity Commission's guidance on public benefit.
The main area of activity normally involves providing a varied programme of activities 7 days per week giving people of all ages a place to meet and socialise with their peers whilst partaking in leisure activities, healthy living through sport and exercise and life long learning through our various courses.
FINANCIAL REVIEW
Principal funding sources
The major source of funding is the letting of the sports hall along with associated income and grants from both the public sector and charities.
Investment policy and objectives
Apart from a prudent amount kept in reserves each year, most of the charity's funds are spent in the short term so there are few funds for long term investment. The reserves are kept in a saver account. A review of investment policy is made annually.
Reserves policy
The reserves policy adopted by the charity is to allow for one year total costs to be kept in reserve.
The financial statements disclose a surplus of £14,017 (2024: -£327), the surplus on unrestricted funds was £36,364 (2024: £-4,189). At the year end the charity had restricted funds of £586,524 (2024: £608,871) and unrestricted funds of £78,320 (2024: £41,956).
FUTURE PLANS
The charity plans to continue the activities listed in its programme for the benefit of the community, subject to satisfactory funding arrangements.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its constitution of a Charitable Incorporated Organisation (CIO).
Recruitment and appointment of new trustees
The members of the Board of Management are also charity trustees for the purpose of charity law and under the association's constitution are known as the management committee. Members are elected for a period of 3 years after which they must be re-elected at the next A.G.M.
Organisational structure
The Young Men's Christian Association Aber Valley Branch has a Management Committee of up to 21 members who meet monthly on the last Friday of the month. A scheme of delegation is in place and the Senior Youth Worker/General Secretary is responsible for ensuring that the charity delivers the services specified and that the key performance indicators are met. The Manager has the responsibility for the day to day operational management of the centre, individual supervision of the staff team and also ensuring that the team continue to develop their skills in line with good practice.
Page 1
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 41,195 Charitable activities 5 Charitable Activities 30,000 Other trading activities 3 33,487 Investment income 4 315 Total 104,997 EXPENDITURE ON Charitable activities Charitable Activities 68,633 NET INCOME/(EXPENDITURE) 36,364 RECONCILIATION OF FUNDS Total funds brought forward 41,956 TOTAL FUNDS CARRIED FORWARD 78,320 |
Restricted funds £ - - - - - 22,347 (22,347) 608,871 586,524 |
2025 Total funds £ 41,195 30,000 33,487 315 104,997 90,980 14,017 650,827 664,844 |
2024 Total funds £ 12,542 48,719 38,570 302 100,133 100,460 (327) 651,154 650,827 |
|---|---|---|---|
The notes form part of these financial statements
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BALANCE SHEEr 31 IAARCH 2025 2024 Total fur$ Totsi T1b assets 578249 585.041 610.082 Debtors Cash at t4nk 10 67.420 8,275 75.695 37.&38 74.883 8275 &3.158 44.683 CREDrroRS mourts fallir#J du8wittMone 11 13,3551 13.9381 CURRENT ASSETS 71.S28 275 79.803 40,745 eX.827 78.320 .524 es).827 FUNDS Unrestri(tsJ fiJTr18 12 78,320 586.524 41,956 08,871 TOTAL FUNDS 650,827 Th8 ffinanoal stat&nenb werp app[Th by ts Bowd d Tr0$ for i58ue on .............. ......... . We on fG ihaWty. MrE MBE. Tr
YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grant income is accounted for on an accruals basis and is shown in the financial statements when the Charity earns the unconditional right to the funds. Grants received for a specific purpose are treated as restricted funds. Revenue grants are credited directly to the Statement of Financial Activities and Capital grants are released over the life of the asset in line with the depreciation policy.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Income from room hire is recognised when the hire takes place.
Fitness centre income is recognised when paid. When a payment is made for an extended period it is credited evenly over the period to the SOFA.
Donations and similar incoming resources represent monies received by the charity from charitable donations and gifts. These are recognised in the Statement of Financial Activities upon receipt.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | - 2% on cost |
|---|---|
| Improvements to property | - 10% on cost |
| Fixtures and fittings | - 20% on cost |
| Sports Equipment | - 20% on cost |
Assets below £100 are not capitalised, but included within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews.
The trustees of the unincorporated charity agreed to transfer the property to the newly formed Charitable Incorporated Organisation (CIO). With the current backlog at the Land Registry the process is ongoing.
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Preparation of the accounts on a going concern basis
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
| 2. DONATIONS AND LEGACIES Donations Subscriptions and Memberships 3. OTHER TRADING ACTIVITIES Catering Income Letting Income Fitness Suite Sundry Income 4. INVESTMENT INCOME Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Grants Charitable Activities Grants received, included in the above, are as follows: Caerphilly County Borough Council Garfield Weston Postcode Lottery AV Community Council MADL National Lottery |
2025 £ 33,843 7,352 41,195 2025 £ 7,079 25,863 509 36 33,487 2025 £ 315 2025 £ 30,000 2025 £ - 6,000 - 5,500 - 18,500 30,000 |
2024 £ 3,059 9,483 |
|---|---|---|
| 12,542 | ||
| 2024 £ 10,131 27,601 546 292 |
||
| 38,570 | ||
| 2024 £ 302 2024 £ 48,719 |
||
| 2024 £ 7,150 6,000 12,000 500 300 22,769 |
||
| 48,719 |
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
7. STAFF COSTS
8.
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Wages and salaries | 35,521 | 34,151 | ||
| National Insurance Contributions | - | - | ||
| 35,521 | 34,151 | |||
| No employee was paid over £60,000., COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 12,542 Charitable activities Charitable Activities 8,950 Other trading activities 38,570 Investment income 302 Total 60,364 EXPENDITURE ON Charitable activities Charitable Activities 64,553 NET INCOME/(EXPENDITURE) (4,189) RECONCILIATION OF FUNDS Total funds brought forward 46,145 TOTAL FUNDS CARRIED FORWARD 41,956 |
Restricted funds £ - 39,769 - - 39,769 35,907 3,862 605,009 608,871 |
Total funds £ 12,542 48,719 38,570 302 100,133 100,460 (327) 651,154 650,827 |
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. TANGIBLE FIXED ASSETS
| Improvements Freehold to property property £ £ COST At 1 April 2024 and 31 March 2025 1,004,504 82,588 DEPRECIATION At 1 April 2024 415,142 82,477 Charge for year 18,502 89 At 31 March 2025 433,644 82,566 NET BOOK VALUE At 31 March 2025 570,860 22 At 31 March 2024 589,362 111 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Taxation and social security Other creditors 12. MOVEMENT IN FUNDS Unrestricted funds General Fund Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales National Lottery Postcode Lottery - maintenance grant TOTAL FUNDS |
Fixtures and fittings £ 86,119 65,510 6,450 71,960 14,159 20,609 At 1.4.24 £ 41,956 192,367 392,695 1,386 15,423 7,000 608,871 650,827 |
Sports Equipment £ 51,562 51,562 - 51,562 - - 2025 £ 7,463 2025 £ 345 3,010 3,355 Net movement in funds £ 36,364 (7,419) (10,983) (89) (3,856) - (22,347) 14,017 |
Totals £ 1,224,773 |
Totals £ 1,224,773 |
Totals £ 1,224,773 |
||
|---|---|---|---|---|---|---|---|
| 614,691 25,041 |
|||||||
| 639,732 | |||||||
| 585,041 | |||||||
| 610,082 | |||||||
| 2024 £ 6,845 2024 £ 345 3,593 3,938 At 31.3.25 £ 78,320 184,948 381,712 1,297 11,567 7,000 |
2024 £ 6,845 |
||||||
| 2024 £ 345 3,593 |
|||||||
| 3,938 | |||||||
| 586,524 | |||||||
| 664,844 |
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales National Lottery TOTAL FUNDS |
Incoming resources £ 104,997 - - - - - 104,997 |
Resources Movement expended in funds £ £ (68,633) 36,364 (7,419) (7,419) (10,983) (10,983) (89) (89) (3,856) (3,856) (22,347) (22,347) (90,980) 14,017 |
Resources Movement expended in funds £ £ (68,633) 36,364 (7,419) (7,419) (10,983) (10,983) (89) (89) (3,856) (3,856) (22,347) (22,347) (90,980) 14,017 |
|---|---|---|---|
| (22,347) | |||
| 14,017 |
Comparatives for movement in funds
| Unrestricted funds General Fund AV Community Council Grant Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales Admiral - Capital Grant National Lottery Postcode Lottery - maintenance grant TOTAL FUNDS |
At 1.4.23 £ 38,845 7,300 46,145 199,786 403,678 1,475 70 - - 605,009 651,154 |
Net movement in funds £ 3,111 (7,300) (4,189) (7,419) (10,983) (89) (70) 15,423 7,000 3,862 (327) |
At 31.3.24 £ 41,956 - |
|---|---|---|---|
| 41,956 192,367 392,695 1,386 - 15,423 7,000 |
|||
| 608,871 | |||
| 650,827 |
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund AV Community Council Grant Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales Admiral - Capital Grant National Lottery Aber Valley Community Council - running costs grant Postcode Lottery - maintenance grant TOTAL FUNDS |
Incoming resources £ 59,864 500 60,364 - - - - 22,769 5,000 12,000 39,769 100,133 |
Resources Movement expended in funds £ £ (56,753) 3,111 (7,800) (7,300) (64,553) (4,189) (7,419) (7,419) (10,983) (10,983) (89) (89) (70) (70) (7,346) 15,423 (5,000) - (5,000) 7,000 (35,907) 3,862 (100,460) (327) |
Resources Movement expended in funds £ £ (56,753) 3,111 (7,800) (7,300) (64,553) (4,189) (7,419) (7,419) (10,983) (10,983) (89) (89) (70) (70) (7,346) 15,423 (5,000) - (5,000) 7,000 (35,907) 3,862 (100,460) (327) |
|---|---|---|---|
| (4,189) (7,419) (10,983) (89) (70) 15,423 - 7,000 |
|||
| 3,862 | |||
| (327) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General Fund AV Community Council Grant Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales Admiral - Capital Grant National Lottery Postcode Lottery - maintenance grant TOTAL FUNDS |
At 1.4.23 £ 38,845 7,300 46,145 199,786 403,678 1,475 70 - - 605,009 651,154 |
Net movement in funds £ 39,475 (7,300) 32,175 (14,838) (21,966) (178) (70) 11,567 7,000 (18,485) 13,690 |
At 31.3.25 £ 78,320 - |
|---|---|---|---|
| 78,320 184,948 381,712 1,297 - 11,567 7,000 |
|||
| 586,524 | |||
| 664,844 |
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund AV Community Council Grant Restricted funds Freehold Property Fund Building Grant Community Foundation in Wales Admiral - Capital Grant National Lottery Aber Valley Community Council - running costs grant Postcode Lottery - maintenance grant TOTAL FUNDS |
Incoming resources £ 164,861 500 165,361 - - - - 22,769 5,000 12,000 39,769 205,130 |
Resources Movement expended in funds £ £ (125,386) 39,475 (7,800) (7,300) (133,186) 32,175 (14,838) (14,838) (21,966) (21,966) (178) (178) (70) (70) (11,202) 11,567 (5,000) - (5,000) 7,000 (58,254) (18,485) (191,440) 13,690 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Subscriptions and Memberships Other trading activities Catering Income Letting Income Fitness Suite Sundry Income Investment income Deposit account interest Charitable activities Grants Total incoming resources EXPENDITURE Charitable activities Wages Pensions Insurance Light and heat Telephone Postage and stationery Catering Costs Cleaning and Maintenance Sundries, Sorts, Running Costs Licences and Affiliation Fees Freehold property Improvements to property Fixtures and fittings Computer equipment Support costs Governance costs Accountancy and legal fees |
2025 £ 33,843 7,352 41,195 7,079 25,863 509 36 33,487 315 30,000 104,997 34,625 659 5,730 9,747 609 50 4,079 1,928 - 5,619 18,502 89 2,594 3,856 88,087 2,893 |
2024 £ 3,059 9,483 |
|---|---|---|
| 12,542 10,131 27,601 546 292 |
||
| 38,570 302 48,719 |
||
| 100,133 34,151 - 6,189 9,951 646 168 6,274 11,290 2,200 948 18,502 89 2,639 4,182 |
||
| 97,229 3,231 |
This page does not form part of the statutory financial statements
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YOUNG MEN'S CHRISTIAN ASSOCIATION ABER VALLEY BRANCH
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Total resources expended Net income/(expenditure) |
2025 £ 90,980 14,017 |
2024 £ 100,460 (327) |
|---|---|---|
This page does not form part of the statutory financial statements
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