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2024-03-31-accounts

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC)

FINANCIAL STATEMENTS

31 MARCH 2024

Company No 00560870

Registered Charity No 210443 Registered Social Landlord H1720

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

FINANCIAL STATEMENTS

for the year ended 31 March 2024

CONTENTS

Pages
Company information 1
Strategic report 2 – 4
Directors’ report 5 – 6
Statement of directors’ responsibilities and internal controls 7 – 8
Auditor’s report 9 – 12
Income and expenditure account 13
Balance sheet 14
Cash flow statement 15
Notes on financial statements 16 – 28

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

COMPANY INFORMATION

31 March 2024

Registered Company Number 00560870
Registered Charity Number 210443
Registered Social Landlord H1720
President P Hinton
Directors M Barker
W Lawlor
M Compton-Rickett
S Abrams
Revd M Montrose
J Price
R Spowart
B Rouse (Retired 22/05/2023)
C White
M Farran
H Klepper
J Fadden
T Allen (Appointed 31/07/2023)
Secretary and Chief Executive E McNeil
Registered Office and 15 Leeds Street
Principal Place of Business Liverpool
L3 6HU
Bankers Barclays Bank PLC
48B & 50 Lord Street
Liverpool
L2 1TD
HSBC UK Bank plc
99-101 Lord Street
Liverpool
L2 6PG
Solicitors Weightmans LLP
The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
Auditors Sumer Auditco Limited
The Beehive
City Place
Gatwick
RH6 0PA

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

STRATEGIC REPORT

31 March 2024

The directors present the strategic report for the year ended 31 March 2024

Business review

The Directors are satisfied by the surplus achieved this year which was accomplished in a continuing difficult trading environment for charitable organisations generally. Income has grown by 17.5% in the year, mainly through full-year contributions from new services opened last year. Rising inflation has seen significant increases in utility costs, one of our larger cost headings, and cost of living pressures on our employees caused the Board to award all staff with an exceptional cost of living 3% support payment in January 2023 followed by a 3% award in April 2024. Our staff have again risen to all challenges and acted quickly to step in and provide the highest level of service to individuals and families in extreme need.

The charity is well placed to build upon its position as a provider of choice for our services. The directors are confident that the Association will continue to fulfil its objectives in pursuit of its mission.

Main achievements during the year

The high level of commitment of our staff has ensured that standards have been maintained and all of our services remain in place, some of them with significant growth. In addition, the Association responded to requests to establish the following new services –

We incurred significant property and service development costs totalling £100,403.08 prior to the opening of our new care home service at Hestia House. In accordance with FRS 102, these costs have been charged to the profit and loss account for the year. However, given their materiality to the accounts, and their nonrecurring nature, we believe that it is important to highlight them. The amounts have all been included in administrative expenses and the table below provides a simple breakdown of the total

Pre - Opening FF&E
Pre - Opening Lease Costs
Pre - Opening Insurance Costs
Pre - Opening Utilities
Pre - Opening Salary Costs
Total		 19,630
36,000
7,107
686
36,980
100,403

Further details of the Association’s performance and achievements are contained within this Annual Report, which includes its Value for Money statement and from our website at ymcatogether.org.uk.

Future developments

YMCA Together remains committed to working with partners, to maintain and improve upon existing service provision to people in need, as well as to develop new services in pursuit of our aims and objectives. In the next twelve months there remains the potential for sustainable growth through contracts in the healthcare and complex needs arena.

The Association aims to keep its accommodation at affordable rents, and we will continue to invest in our properties, so they are kept in a properly maintained condition

Fixed Assets

Changes in fixed assets are given in note 8 to the financial statements.

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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

STRATEGIC REPORT (continued)

31 March 2024

Key Policies

The Association has in place a range of key strategic and operational policies which are reviewed regularly and approved by the Board. As part of these we have a strategic risk register which sets out risks and their likelihood of occurrence. The document also covers the process for the monitoring and hence mitigation of risks where possible.

Details of the Association’s financial risk management objectives and policies are disclosed in note 21 to the accounts.

Reserve Policy

The City of Liverpool YMCA reserves policy objective is to hold adequate funds to establish an appropriate level of working capital and to maintain the long-term viability of the organisation. Our aim is to retain sufficient free reserves equivalent to approximately six months forward expenditure to cover essential staff and overhead costs.

Revenue reserves represent: -

The reserve policy adopted by the Board would mean there should be sufficient cash to run the hostel and maintain the small administration and management team for a period of six months. This would give the YMCA sufficient time to restructure in the event of a major change in circumstances. The amount would be about £200k to £250k.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives (as set out above) and in planning future activities and setting appropriate policies for the year.

3

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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

STRATEGIC REPORT (continued)

31 March 2024

Value for Money Metrics

The data has been calculated in accordance with the Value for Money Standard issued in April 2018. The Benchmark metrics are derived from VFM metrics attributable to YMCA St Helens, an organisation of a similar size to City of Liverpool Young Men’s Christian Association (INC).

----- Start of picture text -----
YMCA St
City of Liverpool YMCA Helens
2022-23 2023-24 2023-24 2024-25 2022-23
Actual Target Actual Target Actual
Re-investment % 28.87% 23.82% 23.81% 27.9% 2.51%
New Supply - social housing % 9.17% 0.00% 0.00% 18.3% 0.00%
New Supply - non-social housing % 0.00% 0.00% 0.00% 0.00% 0.00%
Gearing 0.00% 0.00% 11.0% 26.9% -3.49%
EBITDA-MRI interest cover 26.3% -0.1% 5.35% 5.73% 1068.36%
Headline social housing cost per unit £19,178 £18,480 £20,666 £16,312 £11,012
Operating margin (social housing
units) 13.4.6% 14.67% 15% 14% 16.93%
Operating margin (overall) 0.39% 3.25% 3.5% 3.7% 15.63%
Return on capital employed (ROCE) 0.95% 8.04% 9% 11% 3.51%
----- End of picture text -----

By order of the Board

E. McNeil Secretary

12 September, 2024

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

DIRECTORS’ REPORT

31 March 2024

The directors present their report and accounts for the year ended 31 March 2024

Principal activities

The City of Liverpool YMCA continues to carry on developing and extending the work of the YMCA in Liverpool and Merseyside on a strictly non-political and non-sectarian basis and generally to provide and assist the advancement of the spiritual, intellectual and physical condition of young people in accordance with and by such means as are consistent with the recognised principles and objectives of the Young Men’s Christian Association. YMCA is a Christian Organisation which helps homeless people work through the issues that have made them homeless by providing residential and support services.

Status

The Association is a registered charity (charity number 210443), is limited by guarantee and does not have a share capital. The company (company number 00560870) is also required to comply with accounting requirements for Registered Social Landlords (H1720).

Directors

The directors holding office during the year were: Mike Barker Chairman Winnie Lawlor Mary Compton-Rickett Robert Spowart Simon Abrams Jayne Price Revd Michelle Montrose Barbara Rouse (Retired 22/05 /2023) Clare White Martin Farran Helen Klepper Julie Fadden Tony Allen (Appointed 31/07/2023)

Corporate Governance and Internal Control

The Association’s Directors act on a voluntary basis. The Association has in place a Board and Committee Structure and meetings take place on a regular basis. The Board carries out reviews of its composition and effectiveness to ensure that its members have a broad range of skills to allow the effective discharge of its responsibilities. An independently facilitated review of Board performance has been commissioned and is currently in progress.

The functions of the Board are formally recorded in the Association’s rules and standing orders. Responsibility for day-to-day management is delegated by the Board to the executive officers; however, the Board have ultimate responsibility for internal controls. The Board receives regular management information and is responsible for the approval of annual budgets and accounts. Information available indicates that the Association is a going concern.

Internal audit work is undertaken relevant to the nature and scale of operations of the Association. The results of this work are regularly reported to the Board. Each trustee holds their own portfolio of work such as HR, Finance, standards etc. Trustees are appointed when the work of the charity expands giving rise to new portfolio’s or when an existing trustee resigns. In these circumstances the resigning trustee recommends a replacement, or the trustees advertise the vacancy through adverts or word of mouth. Applicant trustees are interviewed by the Chair and the Secretary and if suitable are nominated to be co-opted on to the Board of Trustees. At the AGM co-opted trustees may be appointed as trustees.

5

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

DIRECTORS’ REPORT (continued)

31 March 2024

The ongoing training of trustees is described in the Trustee’s Handbook and organised by the CEO. At each November board meeting training needs of trustees are agreed for the following year. The Board of Trustees have established an audit committee with a brief to strengthen and improve systems of internal control, in particular, through closer liaison with internal and external auditors.

The Association’s statement on its system of Internal Control under Housing Corporation Circular 25/01 is given on page 7.

The Board has reviewed future forecasts and consider that the Association has adequate resources to continue in operational existence for the foreseeable future and therefore continues to adopt the going concern basis in preparing accounts.

Results

The surplus for the year was £237,430 (2023: £7,683).

Auditors

Sumer Auditco Limited was appointed as auditor to the company and is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement as to disclosure of information to auditors

The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.

By order of the Board

E. McNeil Secretary

12 September, 2024

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

STATEMENT OF DIRECTORS’ RESPONSIBILITIES

The directors are responsible for preparing the Annual Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company and registered social landlord legislation requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Directors are aware:

The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

STATEMENT ON THE ASSOCIATION’S SYSTEM OF INTERNAL CONTROL

The Board are responsible for the Association’s system of internal controls. They recognise that such a system can provide reasonable, but not absolute, assurance against material mis-statement or loss. The main features of the internal control system are:

The Board will continue to annually review the effectiveness of its systems of internal control and in the coming year will establish formal systems for the stress testing of Business Plans in keeping with regulatory requirements.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

Opinion

We have audited the financial statements of City of Liverpool Young Men’s Christian Association for the year ended 31 March 2023 which comprise the Summary Income and Expenditure Accounts, the Balance Sheet, including a summary of significant accounting policies and related notes, and the Cash Flow Statement. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit. We have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statements, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly we have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the directors (as required by auditing standards) and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company is subject to many other laws and regulations where the consequences of noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: Companies Act 2006, Charities Act 2011, Health and Safety at Work Act and Employment Law.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of the auditor’s report.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Sections 144 of the Charities Act 2011 and the regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept any responsibility to anyone other than the charity or the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Sumer Auditco Limited Senior Statutory Auditor The Beehive City Place Gatwick RH6 0PA

12 September, 2024

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

INCOME AND EXPENDITURE ACCOUNT

for the year ended 31 March 2024

2024 2023
Note £ £
Turnover 2,3 12,034,692 10,322,433
Operating costs 3 (11,797,272) (10,314,750)
Operating surplus 237,420 7,683
Interest receivable and other income 6 10 -
Surplus after exceptional and ordinary activities
before and after taxation 237,430 7,683

All amounts relate to continuing activities.

There are no recognised gains or losses other than the result for the year.

13

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

BALANCE SHEET

at 31 March 2024

Note
Fixed assets
Housing properties – depreciated cost
8
Less:
Social housing grant
Other grants
Other fixed assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors:amounts falling due
within one year
10
Net current assets
Creditors:amounts falling due
after more than one year
10
Pension Deficit
11
Net assets
Capital and reserves
Called up share capital
13
Revenue reserves
14
Total funds
15		 2024
£
£
8,500,705
(3,685,000)
(863,043)
3,952,662
599,757
4,552,419
1,214,508
751,763
1,966,271
(866,513)
1,099,758
(1,156,093)
(47,735)
4,448,349
-
4,448,349
4,448,349		 2023
£
£
7,843,095
(3,386,650)
(842,931)
3,613,514
459,254
4,072,768
1,260,641
1,298,654
2,559,295
(1,563,662)
995,633
(796,226)
(61,256)
4,210,919
-
4,210,919
4,210,919		 2023
£
£
7,843,095
(3,386,650)
(842,931)
3,613,514
459,254
4,072,768
1,260,641
1,298,654
2,559,295
(1,563,662)
995,633
(796,226)
(61,256)
4,210,919
-
4,210,919
4,210,919
4,210,919
-
4,210,919
4,210,919

The financial statements on pages 13 to 28 were approved by the Board of Directors and authorised for issue on 12 September, 2024 and signed on its behalf by:

M. Barker - Director R Spowart - Director

Company Registration No. 00560870

14

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

CASH FLOW STATEMENT

for the year ended 31 March 2024

Note
Cash (used) by operating activities
20
Cash flows from investing activities
Sale of tangible assets
Purchase of tangible fixed assets
Bank Loan
Interest received
Cash (used in) investing activities
(Decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the
year
Total cash and cash equivalents at the end of the year		 2024
£
(114,199)
-
(804,025)
371,323
10
(432,692)
(546,891)
1,298,654
751,763		 2023
£
(512,051)
-
(903,156)
800,000
-
(103,156)
(615,207)
1,913,861
1,298,654

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024

Company information

City of Liverpool Young Men’s Christian Association (INC.) is a company limited by guarantee incorporated in England and Wales. The registered office is 15 Leeds Street, Liverpool, L3 6HU.

Basis of accounting

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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The financial statements also comply with Schedule 1 to the Housing Act 1996, the Accounting Requirements for Registered Social Landlords General Determination 2006 and follow the recommendations of the Statements of Recommended Practice for Registered Social Landlords issued in 1999 and updated 2008.

City of Liverpool Young Men’s Christian Association (INC.) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents social housing rental income receivable, revenue grants from Local Authorities and donations and other operating income of the Association (excluding VAT).

Gifts in kind and donations

Donations include the value of assets donated to the Association which are readily marketable. Gifts in kind are included at their value to the Association; this includes gifts of land and salary costs borne by third parties.

Other grants

Capital grants are deducted from the cost of capital expenditure and revenue grants included as income in the income and expenditure account.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

1 Accounting policies (continued)

Pension costs

The charity makes payments on a money purchase (defined contribution) basis to the individual personal pension schemes of the employees. Contributions payable to this scheme are charged to the profit and loss account in the period to which they relate. These contributions are invested separately from the company’s assets in the individuals own personal pension schemes. The individual employees bear all the risk of future returns on the investment performance of the funds invested in their own individual pension fund.

Value added tax

The Association charged value added tax (VAT) as appropriate on its income and similarly appropriately recovered VAT incurred on expenditure. The balance of VAT payable at year end is included as a current liability.

Fixed assets

Housing land and buildings

Housing properties are stated at cost. It is the policy only to include costs of construction where the certificate is dated before the period end. No development overheads have been capitalised.

Depreciation

i) Housing properties

Depreciation of housing properties is effectively recognised by writing down the cost net of grants at rates of 2-4% per annum on the straight-line basis. Land is not depreciated.

ii) Other fixed assets

The following rates apply: Fixtures and fittings - 10-33% per annum on cost Computer equipment - 33% per annum on cost Motor vehicle - 25% per annum on cost

Operating leases

Operating lease rentals are charged in the income and expenditure account on a straight-line basis over the lease term.

Deferred income

Where revenue grants are received covering expenditure planned beyond the current year, the element of grant received in advance is carried forward.

2 Turnover

Turnover comprises:
Residents’ charges (see note 3)
Government grants
Sundry income
Appeal donations		 2024
£
6,314,682
4,531,456
1,173,016
15,538
12,034,692		 2023
£
4,936,468
4,342,791
1,025,850
17,324
10,322,433

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Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024

(Continued)

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Rent		 3 a.
Rent		 3 a.
Rent		 3 a.
Rent
Rent charges receivable
Service charges receivable
Rental income relates to 52 weeks (2023: 52 weeks).		 2024
£
1,894,404
4,420,278
6,314,682		 2023
£
1,480,940
3,455,528
4,936,468
b.
Particulars of turnover, operating costs and operating surplus
2024
Supported housing
2023
Supported housing		 Turnover
£
12,034,692
£
10,322,433		 Operating
costs
£
(11,797,272)
£
(10,314,750)		 Operating
surplus
£
237,420
£
7,683
Operating costs include unpaid rent charges written off £113,382 (2023: £141,752).
c.
Expenditure
Costs of generating funds
Cost of charitable activities
Total		 2024
£
-
(11,797,272)
(11,797,272)		 2023
£
-
(10,314,750)
(10,314,750)

18

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

d. Particulars of income and expenditure from social housing lettings

2024 2023
Supported Supported
housing housing
£ £
Rent receivable net of voids
and identifiable service charges 1,894,404 1,480,940
Service income 4,420,278 3,455,528
Turnover from social housing
lettings 6,314,682 4,936,468
Government grants 4,531,456 4,342,791
Sundry income 1,173,016 1,025,850
Appeals donations 15,538 17,324
Total Income 12,034,692 10,322,433
Expenditure
Salaries (6,103,657) (5,231,074)
Other operating costs (5,693,615) (5,083,676)
Total Expenditure (11,797,272) (10,314,750)
Operating Surplus 237,420 7,683
Voids losses (284,161) (222,141)

Rent receivable, service income, losses from voids, general salaries and other operating costs have all been apportioned on the basis of 540 (2023: 432) bed spaces under management during the year. See note 19.

19

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

4 Operating surplus

31 March 2024
(Continued)
perating surplus
2024 2023
This is stated after charging the following: £ £
Depreciation – Tangible fixed assets 324,374 245,190
Auditor’s remuneration – in their capacity as auditors 10,000 7,500
Auditor’s remuneration – non audit capacity 180 555
Operating leases – Equipment 47,028 39,838
Operating leases – Property
2,141,303		 1,684,840

5 Directors and employees

Directors’ emoluments

The directors received no remuneration or payments for expenses in the current or prior year.

Staff costs

Aggregate amounts for staff paid in respect of:

Wages and salaries
Social security costs
Pension costs
Cost of living payment
The average monthly number of employees (full-time equivalents)
employed during the year was as follows:
Administration
Housing
Support
Nursery		 5,481,841
473,080
148,736
-
6,103,657
Number
22
62
105
11
200		 4,649,440
437,265
144,369
136,399
5,367,473
Number
16
60
87
12
175

One employee received emoluments greater than £80,000 during the year (2023:1 greater than £80,000).

6 Interest receivable and other income

nterest receivable and other income
Bank deposit interest 2024
£		 2023
£
10 -

7 Tax on ordinary activities

There is no liability to corporation tax on the result for the year as the Association claims charitable relief under the Finance Act 2010 in respect of the majority of its activities. Taxation losses arise in respect of activities which may not be classed as charitable for taxation purposes.

20

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

8 Fixed assets - Tangible

Cost or valuation
Freehold property
Fixtures and fittings
Computer equipment
Motor vehicles
Total
Other grant
Futures project funding
Empty Homes project funding
Our House property donation
Total
Social Housing grant
Leeds Street
Liverpool Dispersed Property
Total

Depreciation
Freehold property
Fixtures and fittings
Computer equipment
Motor vehicles
Total		 At
1 April
2023
£
8,916,157
1,810,650
158,046
10,495
10,895,348
At
1 April
2023
£
(228,962)
(334,081)
(279,888)
(842,931)
(3,100,000)
(286,650)
(3,386,650)
At
1 April
2023
£
(1,073,062)
(1,383,054)
(126,388)
(10,495)
(2,592,999)		 Additions
£
779,562
303,777
39,148
-
1,122,487
Additions
£
-
-
(20,112)
(20,112)
-
(298,350)
(298,350)
Charged
in year
£
(121,952)
(177,810)
(24,612)
-
(324,374)		 Disposals
£
-
-
-
-
-
Disposals
£
-
-
-
-
-
-
-
Disposals
£
-
-
-
-
-		 Transfers
£
-
-
-
-
-
Transfers

£
-
-
-
-
-
-
-
Transfers
£
-
-
-
-
-		 At 31
March 2024
£
9,695,719
2,114,427
197,194
10,495
12,017,835
At 31 March
2024
£
(228,962)
(334,081)
(300,000)
(863,043)
(3,100,000)
(585,000)
(3,685,000)
At
31 March
2024
£
(1,195,014)
(1,560,864)
(151,000)
(10,495)
(2,917,373)

21

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

Net book value
Freehold property
Fixtures and fittings
Computer equipment
Motor vehicles
Total		 At
1 April
2023
£
3,613,514
427,596
31,658
-
4,072,768		 At
31 March
2024
£
3,952,662
553,563
46,194
-
4,552,419

Other grants comprise National Lottery Charities Board funding of £165,903 (2023: £165,903), European Regional Development funding of £63,059 (2023: £63,059), Empty Homes Community Grants funding of £334,081 (2023: £334,081), Homes England Grants funding of £585,000 (2023: £286,650) and a capital donation from a YMCA Supporter of £300,000 (2023: £279,888). All these grants are treated as restricted. The Housing Corporation grant of £3,100,000 (2023: £3,100,000) was made in connection with the Leeds Street building. The grant is repayable only in the event of a sale of the property.

22

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

9 Debtors

Amounts falling due within one year
Rental debtors
Less provision for unpaid rent charges
Other debtors
Prepayments
Amounts falling due after more than one year
Other debtors
10
Creditors
Amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income (see note 12)
VAT and social security costs
Bank Loan
Amounts falling due after one year
Bank Loan
 2024
£
365,314
-
637,264
156,481
55,449
1,214,508
2024
£
356,659
64,510
304,050
126,064
15,230
866,513
1,156,093
1,156,093		 2023
£
232,542
-
537,906
440,714
49,479
1,260,641
2023
£
81,002
53,396
1,325,316
100,174
3,774
1,563,662
796,226
796,226

The Charity Bank loan has been secured by a fixed legal mortgage charge against property owned by the charity.

23

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

11 Pension Deficit

YMCA Liverpool has in the past employed staff who were members of the YMCA Pension and Assurance Plan. This is a multi-employer pension plan for employees of YMCA England and member YMCA’s. YMCA Liverpool currently has no members in the pension plan and is classed as a dormant YMCA for pension purposes.

The latest valuation prepared as at 1 May 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. YMCA Liverpool’s share of the deficit amounts to £61,256 (2023: £77,849).

The liability will be payable over a period of 5 years at the rate of £13,522 per annum, commencing 1[st] May 2024.

The pension deficit has been classified as follows:

he pension deficit has been classified as follows:
Amounts due within one year
(included within other creditors)
Amounts due after one year		 2024
£
13,522
47,734
61,256		 2023
£
16,593
61,256
77,849

24

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

12 Accruals and deferred income

Deferred income at 1 April
Grant income received in the year
Grant expended in the year
Deferred income at 31 March
Accruals		 2024
£
1,170,666
243,711
(1,267,659)
146,718
157,332
304,050		 2023
£
1,695,870
2,165,707
(2,690,911)
1,170,666
154,650
1,325,316

Deferred Income

eferred Income
Cost or valuation
Dutch Farm funding
YMCA supporter donation
Rehab service advance funding
Homeless housing advance funding
Southport nursery advance funding
Total		 At
1 April
2023
£
-
20,111
1,006,793
112,115
31,647
1,170,666		 Grant
Income
Received
£
90,000
-
106,711
-
47,000
243,711		 Grant
Expended
£
(49,993)
(20,111)
(1,006,793)
(112,115)
(78,647)
(1,267,659)		 At
31 March
2024
£
40,007
-
106,711
-
-
146,718

Deferred income relates to grants received in the year in respect of specific projects, which has been deferred to match it against the projects’ expenditure in the period to which it relates.

13 Share capital

The Association, which does not have a share capital, is limited by guarantee whereby members contribute up to a maximum of £1 each should there be a deficiency on winding up.

25

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

14 Revenue reserves

At 1 April
Surplus for the year
At 31 March
econciliation of movements in members’ funds
Total funds as at 1 April
Surplus for the year
Total funds as at 31 March		 2024
£
4,210,919
237,430
4,448,349
2024
£
4,210,919
237,430
4,448,349		 2023
£
4,203,236
7,683
4,210,919
2023
£
4,203,236
7,683
4,210,919

15 Reconciliation of movements in members’ funds

16 Social Housing and other grants

The cumulative Social Housing Grant received by the Association in respect of property is £3,685,000 (2023: £3,386,650). Other grants comprise of £165,903 from National Lottery Charities Board, £63,059 from European Regional Development, Empty Homes Community Grants funding of £334,081, a grant from Homes England for £585,000 and a capital donation from a YMCA supporter of £300,000.

17 Legislative provisions

The Association is a charitable company (charity number 210443) limited by guarantee. The Association is also required to comply with Registered Social Landlord accounting requirements.

18 Operating leases

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Expiring within 1 year
Expiring between 2 – 5 years
Property leases
Expiring within 1 year
Expiring between 2 – 5 years
Over 5 years		 2024
£
44,558
110,035
___
154,593
2024
£
1,031,653
2,375,494
489,100
3,896,247		 2023
£
38,191
75,196
113,387
2023
£
323,031
405,169
413,400
1,141,600

26

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D

CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS 31 March 2024 (Continued)

19 Bed spaces

ed spaces
Under management at the end of the year:
Homeless Units
Community Units
Housing Units
Total		 2024
Number
323
167
50
540		 2023
Number
254
125
53
432

20 Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Depreciation charges
Interest receivable
Decrease/(Increase) in debtors
(Decrease) in creditors
Net cash (used)/generated by operating activities		 2024
£
237,430
324,374
(10)
46,133
(722,126)
(114,199)		 2023
£
7,683
245,190
-
(162,350)
(602,574)
(512,051)

For the purposes of FRS 102 the Association classifies all deposits which can be accessed on demand as cash, rather than liquid resources. Therefore cash includes deposits where immediate access would incur a loss of interest.

27

Docusign Envelope ID: E17019E8-53C1-4047-AA20-8BDD2E90921D CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)

NOTES ON FINANCIAL STATEMENTS

31 March 2024 (Continued)

22 Financial risk management objectives and policies

The association holds or issues financial instruments in order to achieve three main objectives, being:

In addition, various financial instruments (e.g. rental debtors, trade creditors, accruals and prepayments) arise directly from the association’s operations.

Transactions in financial instruments result in the association assuming or transferring to another party one or more of the financial risks described below.

Credit Risk

The association monitors credit risk closely and considers that its current policies of credit check meets its objectives of managing exposure to credit risk.

The association has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

28