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2025-03-31-accounts

Here for communities Yn¢A '°"°"°:"::;'° Here for you Annual Report and Accounts 2024-25

EVERYONE SHOULD HAVE A FAIR CHANCE TO DISCOVER WHO THEY ARE AND WHAT THEY CAN BECOME.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Contents

Strategic Report

Trustees Report

Financial Statements

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YMCA England & Wales | Annual Report and Accounts 2024–25

Welcome

to the Annual Report for the National Council of YMCAs

Despite a challenging financial climate, 2024/25 has been a year of influence for YMCA. Brought to life by National Conference, the theme of ‘Moving Forward Together – Locally, Nationally, Globally’ has been a prominent feature for our organisation over the past 12 months.

Locally across the YMCA Federation, continued conversations around devolution have opened up previously untapped conversations around collaboration and influence at a mayoral level, to target challenges and harness opportunities unique to the 708 communities we serve.

Developed for and alongside young people, YMCA’s General Election Manifesto set the groundwork for national change, with a commitment from Government to develop a National Youth Strategy, something YMCA and the sector have long campaigned for.

On a global scale, not only is YMCA strengthening its connection and contribution to our international Vision 2030 strategy, we are also preparing for the 21st World Council in Canada in July 2026, where staff, volunteers and young people come together to learn from one another, provide support and align objectives for the next four years.

However, alongside these milestones, the YMCA movement has faced significant challenges in the past financial year. The housing crisis continues to plight the country and communities, disproportionately impacting young people and their potential, and in the months following the General Election, the Government’s announcement of increases to National Insurance contributions had a significant financial impact on YMCAs.

For YMCA England & Wales, these pressures, coupled with an oversaturated fundraising landscape and restricted retail return, mean that there has been a focus on managing challenges and yet continuing to deliver our strategic ambition.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Taking this difficult environment into consideration, the annual accounts report an unrestricted deficit of (£0.1m) and a restricted deficit of (£0.47m) with the latter largely due to distributions to YMCAs from funds received in prior years and Board investments. Overall income has increased slightly to £23.0m (prior year £22.8m) although the retail environment has been challenging where we faced both a fall in retail income alongside increasing costs, leading to lower net profit.

This increased cost has primarily been driven by changes in the cost of living. Whilst there has been an increase in fundraising income much of the increase has been in restricted funds and thereby distributions to the Federation. Affiliation fees have increased to £1.3m (2024: £1.2m) before contributions to World Alliance and YMCA Europe on behalf of all YMCAs.

Total expenditure increased to £23.6m (2024: £22.7m), and is largely due to increased staffing costs, board investments and investment in fundraising. Within this sum payments to member YMCAs were made of £1.39m (2024: £1.47m) in connection with projects, retail profit share or RoomSponsor.

Whilst a challenging environment for YMCA England & Wales, and indeed for others in the YMCA movement, we are pleased to note that overall turnover for the YMCA Federation has increased from £330m to a forecast turnover of £360m in the current year. This must mean that, despite the financial headwinds, the YMCA movement is reaching more beneficiaries.

As we look ahead to the next financial year, our focus at YMCA England & Wales is to steer a steady ship and continue to deliver on our role as National Council to represent and support YMCAs across the Federation in their delivery of vital work but also continue to build on the strategic gains achieved in the past year.

Roy O’Shaughnessy Chair YMCA England & Wales

Denise Hatton National Secretary & Chief Executive YMCA England & Wales

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YMCA England & Wales | Annual Report and Accounts 2024–25

WHAT WE DO YMCA is the largest voluntary sector provider of supported housing for young people in England 80 and Wales, providing 10,432 beds each night and 10,432 beds each night and beds each night and collectively housing 20,671 people as they build 20,671 people as they build people as they build YMCAS their lives from a stable base. PROVIDE SERVICES THROUGHOUT YMCA collectively works with ENGLAND 228,711 young people, children, parents and young people, children, parents and AND WALES

YMCA is the largest voluntary sector provider of supported housing for young people in England and Wales, providing 10,432 beds each night and 10,432 beds each night and beds each night and collectively housing 20,671 people as they build 20,671 people as they build people as they build their lives from a stable base.

YMCA collectively works with 228,711 young people, children, parents and young people, children, parents and carers to provide the best possible start in life, providing a safe space for 31,409 young people through our extensive youth services offering.

YMCA IMPACTS UPON THE LIVES OF MORE THAN 402,000 YOUNG PEOPLE EACH YEAR

Wellbeing is a crucial foundation that enables people to develop in all areas of their lives. YMCA welcome 107,351 people through our doors to form community connections and take part in healthy living activities.

YMCA connects more than

708 YMCAS

DIFFERENT COMMUNITIES NATIONWIDE ARE SERVED BY YMCA

69,000 young people with someone to talk to or a helping hand, offering specialist guidance and practical skills to best equip them to overcome whatever challenges they may face.

YMCA breaks down barriers to educational success and employment opportunities so that people can fulfil their potential and gain meaningful employment, engaging 23,886 people through our training and learning programmes.

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YMCA England & Wales | Annual Report and Accounts 2024–25

350+ 42 NEW YOUTH CAMPAIGNERS AMBASSADORS ENGAGED WITH THE PROGRAMME

HOW WE INFLUENCED SIGNATURES FOR OPEN LETTER TO THE PRIME MINISTER CALLING FOR MORE INVESTMENT IN NHS MENTAL HEALTH SERVICES 1,345 29 400+ REFERENCES TO YMCA CAMPAIGNERS EMAILED THEIR WORK IN PARLIAMENT MP ABOUT YMCA CAMPAIGNS

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YMCA England & Wales | Annual Report and Accounts 2024–25

YMCA’s Vision

Is of an inclusive Christian movement, transforming communities so that all young people can belong, contribute and thrive.

YMCA is the oldest and largest youth charity in the world. With our foundations first rooted in London in 1844, YMCA has spread across the globe helping more than 65 million people across 120 different countries.

YMCA England & Wales (or the National Council of YMCAs) provides support, representation and development on behalf of 80 local YMCAs working in more than 700 different communities supporting young people to belong, contribute and thrive. YMCAs provide services across five core areas, namely Housing, Training & Education, Family & Youth Work, Health & Wellbeing, and Support & Advice.

Few organisations can claim to have the reach of YMCA, with international, national and local services tailored to meet the different needs of communities across the globe.

YMCA England & Wales is committed to supporting YMCAs and promoting high standards of work. We achieve this by sharing practices and implementing core requirements through a membership agreement, ensuring joint assurance, compliance and risk management.

We also aid YMCAs with their financial sustainability through fundraising, our retail shops operating in local communities, generating financial but also nonfinancial benefits in the form of local employment and connection to essential services. We also manage the pension position in collaboration with the Pension Trustees where we are pleased to note that we are ending the ‘end game’.

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YMCA England & Wales | Annual Report and Accounts 2024–25

In addition to this we source and encourage collaborative new opportunities working with our important partners, including Sidley LLP, Cadent and Vestey Holdings to provide much needed funds and support to develop local YMCA programmes that support our beneficiaries. Our intervention and support to YMCAs can take many forms whether financial, helping with human resources matters, press and communications assistance, business modelling or direct governance support. We also ensure that we retain our identity rooted in our commitment to the Christian faith and continue to ensure our heritage is preserved, recognising that YMCA has been playing a leading role globally for nearly two centuries.

YMCA England & Wales represents YMCAs by providing policy advice, campaigning and advocating for the needs of young people and communities. We engage with Government and national media to influence and shape the future agenda. Throughout the year, we have campaigned on many important issues, including accommodation challenges for young people and affordable housing, the impact of living costs on households, and underfunding of the early years sector.

We also seek to ensure that collectively we speak together, managing the brand so that YMCA gains public attention, delivering internal and external communications, and ensuring that we remain in the national view. We also ensure that our local YMCAs maintain connections through international democracy and engagement with our European and International movements across the globe, connecting and influencing work on the World Vision 2030, demonstrating the global impact of YMCAs but also through direct opportunities for YMCAs to engage with their colleagues overseas.

To develop YMCAs , we seek to harness the collective power of YMCAs locally and amplify this, specifically as we strive to deliver on a strategy that will provide growth of YMCA services in the communities in which they are needed. This is being pursued through our Federation Strategy which reflects our ambition, with priority areas relating to brand amplification, housing growth, business models and viability, and strengthening our own ethos and culture. In doing so we want to ensure that stakeholders better appreciate the impact that the work of YMCA has on our society and have furthered work on impact measurement. Our strategy and impact work connects directly with our global vision, providing not only the opportunity to consider our alignment but also our connection with our colleagues across the globe.

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STRATEGIC REPORT io

YMCA England & Wales | Annual Report and Accounts 2024–25

Public Benefit

We have no doubt that our activities provide significant public benefit with more than 400,000 people reached by YMCA’s services. The work of YMCA transforms the lives of young people and communities every single day. This is recognised in the inspiring stories from those who have benefitted from the support and services provided by YMCAs. We acknowledge that the success of YMCA is thanks to the dedication of our staff and volunteers, as well as the generosity of our supporters which provide the foundations for our work.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Role of the National Council of YMCAs (YMCA England & Wales)

Uphold membership standards To oversee and monitor the implementation of the Membership Agreement to deliver a common approach to standards across the YMCA Federation.

Heritage

As the stewards of YMCA’s heritage, to protect, enhance and enrich our history.

Assurance, risk and compliance To deliver a high level of confidence across the Federation in relation to agreed compliance levels being achieved and identifying potential areas of concern.

Strategy and growth

To facilitate and promote strategies within the YMCA movement that provide for growth, innovation and collaboration across the Federation.

Intervention and support To ensure potential risks are mitigated through intervention and support.

Policy, research and advocacy To effect positive change on key policy areas impacting upon the work that matters most to the YMCA Federation and our beneficiaries.

International, democracy and engagement

To represent YMCAs across England and Wales on the international stage, and to facilitate opportunities for all member YMCAs to engage and contribute to the future direction of the Federation.

Press, campaigns, brand and communications

To promote the work of YMCA, its positive impact upon the lives of our beneficiaries, and ensuring a high level of recognition of YMCA’s brand.

Financial sustainability

There are four components to financial sustainability covering pensions management; fundraising, including business development; retail; and value for money.

Faith

Impact measurement

To establish a number of coherent key impact measurement indicators across the main work areas to show the overall impact of YMCA work throughout England and Wales.

To ensure the Federation has the resources, thinking and strategy to hold its Christian identity and apply that in the 21st century; enabling the Federation to deepen bonds of unity; and for faith to find its place in our local, regional, and national identity.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Strategic Objectives

Context

Despite a difficult environment, the overall turnover for YMCAs in England and Wales has increased from a total income of £330m to a forecast income of £360m in the current year. It is in this context, and with more beneficiaries being reached, that 2024-25 provided for a year where YMCAs sought to manage the challenges faced but also sought to consolidate and grow. This picture is however mixed across YMCAs both according to size but also the services provided. With the increasing regulatory environment, including our own drive to improve standards and manage risk, placing additional strain on already busy YMCAs, it is not unsurprising that the need for YMCA England & Wales support has continued to grow.

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YMCA England & Wales | Annual Report and Accounts 2024–25

2022-2030 Federation Strategy

The Federation Strategy 2022 to 2030 sets out the collective ambition for all YMCAs across England and Wales, highlighting the areas where - by working together - we can have greatest impact. This sets out an ambitious agenda of change and a copy of the 2022-2030 Federation Strategy can be accessed here . In 2024-25 a number of priority areas have been progressing, including:

By pursuing the Federation Strategy of collective ambition, it is planned that YMCAs will be able to deliver more work, which in turn will further fulfil the ambition set out in the international YMCA Vision 2030 with priorities for: a just world; a sustainable planet, meaningful work, and community wellbeing. Further information on Vision 2030 for all YMCAs across the globe can be accessed here .

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YMCA England & Wales | Annual Report and Accounts 2024–25

National Council of YMCA: 2022-2030 Strategy

Recognising that the National Council has a key role in the delivery of the Federation Strategy’s collective ambition, but mindful of our day-to-day role in relation to support, represent and develop, and our ambition to be exemplary in all that we do, the National Council Strategy has three pillars:

The goals set out in the National Council Strategy are underpinned by strategies and objectives that take forward each of these goal areas. The priorities for action are then reflected in our Business Plan, which ensures that the strategy is taken forward and resources allocated.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Review of Achievements

The below provides a summary of progress against our 2024-25 Business Plan objectives. This has only been possible to progress with further investment from the Board in the tools and resources to deliver the strategic agenda including funding for leadership development and induction courses, commissioning a theory of change project in relation to our housing ambition, commissioning an external independent report on expanding our asset base (initially focused on housing) as well as funding contribution to the World Vision. This is on top of prior year investments in relation to resourcing the Federation Strategy, the development and on-going costs of Y-Hub, the widening out of tools on impact measurement as well as direct requests for intervention and support assistance.

Whilst continuing to invest in the work we continue to distribute important additional funds to YMCAs of £1.3m (£1.2m in 2023-24). The increase in investment has impacted on the financial result.

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YMCA England & Wales | Annual Report and Accounts 2024–25

2024-25 Business Plan Performance

An assessment against the 2024-25 Business Plan priorities is set out below:

Pillar 1: Contributing to the Federation Strategy

Goal A - Leadership and Influence: Lead change that brings about a more just, inclusive, and equitable future

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YMCA England & Wales | Annual Report and Accounts 2024–25

Goal B: Excellence and Impact Transform lives with programmes that are second to none in quality

Goal C: Growth and Reach: Provide more support in more places, to more people, where there is unmet need

Goal D: Awareness and Support: Achieve high levels of public understanding of the issues people and communities face, driving urgency, support, and empathy for others so that the public shares and supports our goal

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YMCA England & Wales | Annual Report and Accounts 2024–25

Pillar 2 – Foundational Activity

Goal A - Leadership and Influence: Lead change that brings about a more just, inclusive, and equitable future

Goal B: Facilitate the delivery of the Federation Strategy and Population of Future Plans

Goal C: Achieve Exemplary Standards and Risk Mitigation across All YMCAs

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YMCA England & Wales | Annual Report and Accounts 2024–25

Goal D: Support All YMCAs in Becoming Financially Sustainable

Pillar 3 – Be Exemplar in all that we do

Goal A: Be an Employer of Choice

Goal B: Define, Articulate and Evidence Our Value to Members

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YMCA England & Wales | Annual Report and Accounts 2024–25

Goal C: Ensure We Are Exemplary in Our Approach to Governance

Goal D: Build an Infrastructure That Supports Our Strategic Ambitions and Increases Our Capacity for Growth

Delivering the 2024-25 budget was challenging given the Retail environment. A number of areas continue to be tacked to drive value for money.

Whilst many of the business plan objectives were completed in the year, in particular across pillars 1 (strategy) and 2 (foundational role), this has been at the expense of some of the activity in pillar 3 (exemplary charity). We have reflected on this in 2025-26 to ensure that pillar 3 is not crowded out and we ensure a more joined up approach to objective setting.

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YMCA England & Wales | Annual Report and Accounts 2024–25

2025-26 Performance to Date

The Board have agreed new business plan objectives for 2025-26 grouped around key themes. These themes include:

We believe that the grouping of objectives in this way provides a new focus on the six key priority areas, fostering increased collaboration internally and externally in a way that aligns with the National Council Strategy.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Risk Management and Internal Controls

YMCA England & Wales operates a comprehensive corporate risk management process to manage and mitigate risk. The Board of Trustees has overall responsibility for ensuring that there is an appropriate system of controls, financial and otherwise, to provide assurance that:

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YMCA England & Wales | Annual Report and Accounts 2024–25

The systems of internal control are designed to provide assurance against material misstatement or loss. These include:

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YMCA England & Wales | Annual Report and Accounts 2024–25

The Finance and Audit Committee monitors the effectiveness of audit and reviews our risk management processes. The Committee has provided the following statement:

The Finance and Audit Committee has reviewed the reports from the senior management, audit and other reports on areas of operation. The Committee confirm that the above systems have been applied and are confident that systems of internal control and risk management are working effectively (noting that there is always scope for improvement).

In relation to risk, the Board operates a formal risk management process to assess risk and implement mitigating strategies. This involves identifying the types of risks faced, prioritising them in terms of impact, likelihood and velocity and identifying a means of management. This has also informed the Reserves Policy that is set by the Board. As part of this process the Board consider a report at every meeting that details major risks, approves plans for mitigation and ensures steps are being taken to manage the key risks. Approved actions are implemented by senior managers who are accountable to the Board.

A number of risks have arisen in 2024-25, both in relation to YMCA England & Wales and the Federation. The below summarises the key risks at May 2025:

Risk Latest Action
1) Cyber Security Action plan developed with many actions
(Ransomware attack) implemented (including 365, standardised
use of SharePoint, improved firewalls,
back-up arrangements, outsourced
support, training and development and
other securities to manage access). IT
actions continuing within identified list.
Cyber Essentials is scheduled to be
completed bythe end of 2025.
2) Government budget Monitoring of proposals with modelling of
announcement leads to implications for future years.
changes in employer costs,
e.g. proposed increases to
NI, changes to pensions etc.
inability to meet financial
targets
3) Government budget Estimated impact on YMCAs approx. £7m
announcement impact on and for YMCA EW approx. £0.7m. Aware
Federation - changes in that YMCAs are factoring additional costs
employer costs, e.g. into business plan processes for 2025-26.
proposed increases to NI,
changes to pensions etc.
inability to meet financial
targets

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YMCA England & Wales | Annual Report and Accounts 2024–25

4) Specific member YMCA Intervention and support provided to a
sustainability and viability number of YMCAs. Aware of some
risk individual YMCA challenges, support being
provided. Work continues in Wales.
5) Loss of key IT system, loss IT review completed with many actions
of data, legacy systems implemented. Work on reviewing the
unsupported Business Continuity Plan has allowed
processes to be put in place regarding loss
of servers, key IT suppliers and access to
systems. Further migration to the cloud
and office 365 environment will further
significantly reduce risk. Cyber Essentials is
scheduled to be completed by the end of
2025.
6) Reputational impact for Continue to work on several cases across
YMCA Federation due to YMCAs to manage reputational risk.
issue within a YMCA
7) Safeguarding Incident Actions from safeguarding audit
continuing to be implemented, necessary
reports made to Charity Commission. All
key safeguarding staff recently
undertaken safeguarding training
including Board Champion. Sexual
Harassment training also rolled out across
the organisation for all staff, tutor led
session beingscheduled.
8) Income streams in Business Further work on the business model
Model insufficiently diverse continues to be taken forward, looking at
to provide income required a sustainable way in which the
for expanding work investments funded by the Board can be
continued into the longer term.
9) Impact of inflation and Sessions on risk held with YMCAs and
rising energy prices with feedback and follow up work on actions
consequent viability and planned.
risk challenges for all YMCAs
10) Income is below expected Income levels lower than budget for
levels across retail and 2024-25 with some offset by cost savings.
fundraising. Investment in Work underway to ensure viability in
Fundraising does not future years.
achieve its objectives

The full risk register is considered by the Finance and Audit Committee at every meeting. The Board review the key (red) risks that have been highlighted through appraisal of cause / consequence. The Trustees believe that the system of internal controls has been adequate to provide assurance against material misstatement or loss.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Fundraising

Approach to Fundraising Activity

YMCA England & Wales fundraises for two core reasons:

  1. To distribute money to local partnering YMCAs enabling them to support more young people and their communities through direct service delivery

  2. To provide member services to YMCAs, leveraging our unique position to centrally represent, develop and resource YMCAs. This includes changing young people’s lives through national campaigning and lobbying

Our fundraising activity falls under two broad headings:

Public Fundraising

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YMCA England & Wales | Annual Report and Accounts 2024–25

Strategic Partnerships

Compliance with Fundraising and Data Protection standards

In all our fundraising, we adhere fully to the Fundraising Code of Practice, in respect of both the legal rules that apply to fundraising and the standards designed to ensure that fundraising is open, honest and respectful.

Our full compliance with GDPR legislation ensures the protection of personal details and the privacy of our fundraising audience. Our capturing, management and application of communication consents is robust and subject to strict vigilance.

Neither YMCA England & Wales nor any person acting on behalf of YMCA England & Wales was subject to an undertaking to be bound by any voluntary scheme for regulating fund-raising, or any voluntary standard of fundraising, in respect of activities on behalf of the charity.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Monitoring of fundraising activities

Telephone marketing and Private Sites face-to-face fundraising was carried by professional agencies on behalf of YMCA England & Wales for the purpose of fundraising.

The audience for telephone marketing was individuals who have an existing financial relationship with YMCA England & Wales, who had provided their telephone number and have not opted out of telephone contact for fundraising purposes. We also comply with the Telephone Preference Service.

The audience for face-to-face fundraising was members of the public within the private sites (railway stations, events venues and supermarkets) that had been secured by the fundraising agency.

All the agency staff involved in these activities receive regular training directly from YMCA on our brand and our compliance policies.

This is in addition to the training that our partnering professional fundraising agencies provides on data protection, compliance and maintaining quality. We listened to randomly selected calls (approximately 5% of all calls) to ensure the highest of standards, and that we are complying with all relevant regulations and legislation. We also regularly undertake supplier tenders to ensure value for money.

We also engaged in a mystery shopping programme, where our inbound and outbound supporter care and communications are evaluated for quality and compliance.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Protecting vulnerable people

The agencies who acted as our agent each have a comprehensive policy in respect of Safeguarding Vulnerable People, which is taken seriously and owned at all levels within their organisation. All their employees are required to undergo vulnerable persons training upon joining the organisation, utilising an adapted version of the ‘Caring for the Vulnerable’ training as compiled by the Direct Marketing Association, and the ‘Treating Donors Fairly’ training as compiled by the Institute of Fundraising. All their employees must agree to abide by this Policy.

In compliance with Institute of Fundraising guidance on protecting supporters, YMCA England & Wales will:

We actively look for indicators that a donor might be vulnerable, such as:

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YMCA England & Wales | Annual Report and Accounts 2024–25

Each individual is dealt with respectfully on a case-by-case basis and we are careful when recording sensitive information. For example, if a person informs us they have Dementia in its early stages but is still capable of making rational decisions/donations, we will continue to send mailings but will log on their record that they need Special Consideration and take note that the supporter has dementia. If we start to see a different behaviour pattern, we will upgrade our action and consider reducing mailings or remove the supporter from our mailing lists.

Complaints

We take supporter feedback seriously and closely monitor all complaints received to ensure we learn and improve. In the reporting year, we received fifteen complaints. These related to supporter communications, face-to-face fundraising, and service issues:

Face-to-face fundraising generated six complaints. Some supporters felt pressured to donate or give higher amounts than they were comfortable with. In each case, we issued apologies, cancelled gifts where appropriate, and shared feedback with the fundraising agency. In one case, a supporter ultimately decided to give a lower amount they were comfortable with after discussion with Supporter Care. One individual who complained was not a donor but an acquaintance of a former fundraiser who was no longer employed by YMCA, so no further action was taken.

Two complaints related to mailing communications. One supporter felt that the number of appeals was too high; we apologised and adjusted our approach so that only one annual appeal is sent moving forward. Another supporter was concerned that a fundraising appeal implied donations would be used in their local area. We clarified that donations from national appeals are allocated based on where the need is greatest, and in this case funds were being distributed to local YMCAs, and we committed to improving how this is expressed in future materials.

Two supporters were frustrated when they could not reach us during a temporary phone system outage. One was unable to query Gift Aid so cancelled their direct debit, and another had been trying to make a donation. We apologised and reported the issue to our IT team for urgent resolution.

One supporter cancelled their gift after not receiving a thank you for their regular giving. We apologised, explained our annual thank you process, and noted this feedback for review.

Another supporter cancelled their gift due to personal financial reasons but raised concerns about the frequency of mailings. We acknowledged her generosity and thanked them for their feedback.

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YMCA England & Wales | Annual Report and Accounts 2024–25

One regular giver was disappointed to receive a Christmas ask on top of their ongoing support and subsequently cancelled their gift. We apologised and expressed appreciation for their past support.

Two complaints related to the closure of Central YMCA’s gym, with supporters expressing dissatisfaction and cancelling gifts. We clarified that YMCA England & Wales acts as a national body, with each local YMCA operating independently, and expressed hope they may support YMCA again in future.

One supporter was frustrated when they couldn’t reach their usual contact due to illness. The Head of Fundraising followed up personally, and the supporter proceeded to make a donation.

Across all complaints, we ensured a timely and respectful response, offering apologies and taking steps to improve our supporter experience. We are grateful to all who provided feedback, helping us to maintain high standards of care and transparency.

In addition to this, we were pleased to receive 21 compliments , including:

Three messages congratulating our young winners at the Youth Matters Awards and thanking us for organising the event, nine compliments praising the quality of our Supporter Care, six compliments about the positive and inspiring experience of face-to-face fundraising interactions, and three supportive messages for our RoomSponsor programme, highlighting how impactful they found the communications.

This positive feedback is deeply valued and a reminder of the meaningful connections we continue to build with our supporters.

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TRUSTEES REPORT 33

YMCA England & Wales | Annual Report and Accounts 2024–25

Financial Review

Format of accounts

As a Registered Social Landlord, YMCA England & Wales is governed by the regulations of the Statement of Recommended Practice issued by the National Federation of Housing Associations (the Housing SORP) and the Accounting Direction for Private Registered Providers of Social Housing from January 2022 (the Accounting Direction). We are currently working through a process to ensure we retain this status recognising that our housing units have now been sold but there is a need to preserve this status in order to access national funding contract opportunities in the interests of our member YMCAs.

The Board of Trustees follow the 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 Ireland (FRS 102) (effective 1 January 2015) issued by the Charity Commission (the Charities SORP), so long as it does not conflict with the Housing SORP. As a company limited by guarantee, we follow the Companies Act 2006 and applicable accounting standards. To meet the terms of this Act, we have prepared a separate income and expenditure account. To comply with the Housing SORP and the Accounting Requirements of Private Registered Providers of Social Housing, the accounts would have been configured to separate the performance of housing and non-housing activities in order to retain registered provider status.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Consolidation

In these accounts we have brought together the results of YMCA England & Wales with:

1 | Our three connected subsidiary charities

To prevent a tax charge arising, the subsidiary trading company (YMCA Retail Limited) gift aids its surplus to the charity.

Over the passage of time several trusts and funds have come under the stewardship of YMCA England & Wales. Usually these were for buildings or trusts with specific objectives. There are three groups of trusts that we look after:

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YMCA England & Wales | Annual Report and Accounts 2024–25

Funds and reserves

Total reserves at 31 March 2025 were £11.3m (2024: £11.8m), with the fall arising from:

Of these, the restricted funds of £0.86m (2024: £1.3m) are held for specific purposes and can only be used for these purposes. The remaining reserves of £10.4m (2024: £10.5m are known as “unrestricted” funds).

Unrestricted funds

The accounts show net expenditure on unrestricted funds of (£0.16m) (2024: net income of £0.34m), before the adjustments for revaluation of investments and pension scheme deficit obligations.

Free Reserves

These are funds that the Board is free to use to support our charitable work, available at short notice and are known as the “free reserves”. The Board aim to hold sufficient free reserves to provide financial stability when considering the key areas of risk and have set a target level of £5.0m to £7.0m (previously £4.0m to £6.0m). Free Reserves at March 2025 were £7.0m (2024: £7.0m) (see note 16 for a breakdown of free reserves). In considering the Reserves level the Board are aware of both the retail and fundraising environment but also the risk that the pension scheme does not end with the scheme being at self-sufficiency. In this regard, and recognising that the desire to move to a buy-out position, which will incur further costs, the Board have continued to designate £2m of unrestricted reserves to achieving this aim once the obligation to do so has been established. The Trustees are therefore comfortable that the Reserves position is appropriate.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Restricted funds

While still meeting our wider charitable objectives, there is some funding that has restrictions on how it can be spent. The principle restricted funds are listed below:

Movement in Restricted Funds during the year

Restricted funds have decreased as restricted funds are spent in line with their charitable purpose.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Going Concern

In line with current best practice, the Board has reviewed the financial impact of those risks identified as part of our on-going risk management process and its going concern status. As part of this review, and aligned to the business planning process for 2025-26 which looks at the forward five years, the following have been considered:

As noted in the financial statements the performance for the year has been greatly impacted by a reduction in spending and footfall in our charity retail operations. This resulted in a significant fall in income, and whilst much of this has been able to be offset by reduced expenditure, it has meant that we have delivered a net deficit overall – albeit a surplus of £0.8m prior to distributions to YMCAs. Whilst the impact has been managed to a net (£0.56m) deficit, the net reserves position has fallen by a similar sum, with reserves now at £11.3m. Much of this fall however is due to an outflow of restricted funds or Board investments, and as such are one-offs utilising funds received in prior years or investment in the future.

The pension liability has fallen from £2.4m to £1.7m but given both an operational deficit and cash costs to meet the pension, the investment position has fallen to £10.9m (2024: £12.7m). Whilst disappointing, as the aim has been to try to mitigate the pension cash cost with operational surpluses, the reduction in investment values is consistent with the strategy agreed by the Board recognising on occasion the need to draw on investments to cover the pension cash cost. Whilst agreeing a statutory balanced budget for the forthcoming year the challenge remains in relation to delivering an operational financial performance that this provides a surplus after distributions to YMCAs and yet sufficient funds to fulfil both the strategic agenda and deliver the foundational role. However, given the balance of funds over liabilities, and with plans to address operating performance the Board remain of the view that the National Council has sufficient assets to enable future obligations to be met and therefore continues to operate as a going concern. Further details in relation to the income and expenditure of YMCA England & Wales for the year are set out in detail in the Statement of Financial Activities (SoFA) on page 69.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Review of 2024-25 Financial Performance

The annual accounts report a (£0.56m) deficit for 2024-25 (2024: £3.4m surplus). These figures include investment movements and changes to the pension liability, which if excluded would otherwise show an operating deficit of (£0.6m) (2024: surplus of £0.04m). This decrease on prior year arises due to a challenging income generation environment but also recognises that a significant proportion of net fundraising income is distributed to Federation members, with £1.39m being distributed (2024: £1.47m). Excluding these distributions the position reported would have been a surplus of £0.8m. The operating deficit includes further Board investment in the strategic agenda, namely work in relation to housing, leadership and management, theory of change, supporting World Vision 2030 and further investment in our networks. These investments totalled an additional spend of £0.35m building on prior investments which are now included in core spend. The position also recognises some utilising of restricted funds from prior year.

Within the operating performance, Retail shops have in particular faced a challenging environment generating a net surplus of £0.6m (2024: £1.7m) which is shared with member YMCAs. Elsewhere, whilst Fundraising income has increased overall, the net costs of raising funds has also increased as have distributions to YMCAs, leading to reduced funds retained. We remain very grateful for the commitment, hard work and contribution of all our staff and volunteers.

Income

Total income in 2024-25 was £23.0m (2024: £22.8m). Underlying this there has been a fall in Retail income to £16.1m (2024: £16.7m) but with a combined increase in costs due to on-going living wages increases and wider cost challenge reducing the net contribution from Retail. Fundraising income has increased overall to £4.3m (2024: £3.7m). Affiliation fees increased to £1.3m (2024: £1.2m) before contributions to World Alliance and YMCA Europe on behalf of all YMCAs reducing the net sum available.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Expenditure

Total expenditure increased to £23.6m (2024: £22.7m). This increase largely arises from a combination of factors including increased staffing costs and investment. Retail operational spend increased to £15.8m (2024: £15.0m) due largely to staff cost increases driven by statutory changes. Fundraising activity and support, representation and development spend for member YMCAs accounted for the majority of the remaining expenditure and increased to £3.0m (2024: £2.7m) with payments to member YMCAs of £1.39m (2024: £1.47m) in relation to either projects, retail profit share or RoomSponsor.

Looking ahead

YMCA England & Wales continues to retain sufficient Reserves to enable current, future and potential challenges to be overcome. However, the challenging retail environment, alongside continued investment in fundraising with reduced net income for charitable does mean that we are continuing to consider how we can build on the solid foundations achieved. Whilst confident that these solid financial foundations will enable YMCA England & Wales to exist to provide members with representation, support and development, it remains key that sufficient income is generated to support the work undertaken for members. As such, and as we move into 2025-26, we continue to consider how it is that additional net income is retained, and resources are best prioritised to deliver benefits to members and are not complacent in the need to manage cost to ensure Reserves are retained to meet obligations. As such, and as we move into 2025-26 the monitoring of both profitability and liquidity will be crucially important as we look to retain solid financial foundations whilst delivering our role to support, represent and develop YMCA work in England and Wales.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Investment policy and performance

Net funds released from the sale of the housing schemes have all been invested with investment managers. Markets continue to be volatile with 2024-25 reporting gains of £0.2m (2024: increase of £0.6m). During the year it is hoped that increases in investment values would enable the operational deficit to be offset, but with falls of £0.6m in February and March 2025, this reduced investment gains to £0.2m. During 2024-25 it has been necessary to withdraw cash, in line with the financial strategy, to pay for the pension costs but also to meet prior year distributions and the operating deficit to draw on investments inyear. This has resulted in a fall in investments to £10.9m from £12.7m at March 2024, of which (£0.9m) representing the cash cost of the pension with the balance required to provide for working capital balances.

It is hoped that in 2025-26 investment balances will rebound following the falls at the end of 2024-25 financial year, but in any case are more than sufficient to meet the pension liability providing the Board and Pension Trustees with reassurance that as the holder of the largest share of the liability in the YMCA Pension Plan, we remain equipped to meet obligations.

Grant making policy

The Movement Trust Fund administers three funds from which grants are made:

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YMCA England & Wales | Annual Report and Accounts 2024–25

Value for money

We are conscious of the principles of economy, efficiency and effectiveness and strive to ensure that these underpin the decisions that we make when using resources to maximise impact for our beneficiaries. We continue to ensure that procurement decisions follow good practice and that we frequently compare market price to ensure that we are securing best value.

The full annual Value for Money statement is available on our website: ymca.org.uk/value-for-money-2025

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YMCA England & Wales | Annual Report and Accounts 2024–25

Our Approach to Value for Money

Value for Money is led by the Board and overseen by our Finance and Audit Committee. Value for money is viewed as the key to sustainability as we seek to maximise impact with scarce resources. The Board is responsible for setting and monitoring value for money through oversight of the annual business plan, aligned to strategy and receives performance updates at each of their meetings, and reports on the use of resources. The Board holds an annual strategy session which informs the development of the plans and budgets for the following year and considers the longer-term financial position. The following provide a brief overview of some of the measures that are used to inform the Board’s assessment. The five key components of our value for money strategy are:

The above measures relate to the direct work within the remit / control of YMCA England & Wales. Whilst some opportunities for shared service, and reduced cost / improved quality have been implemented, for example in relation to group life, VAT advice, payroll and human resources, there remains scope to further maximise value for money across the Federation. It is hoped that further progress can be made on collaborative opportunities during 2025-26.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Overall Measures

Measures for return from our staff

The following measures relate to the performance of staff:

2025 2024 2023
Human capital cost
(total staff cost per FTE)		 £32,613 £29,567 £28,269
Gross Revenue
per employee:
Retail £47,650 £51,870 £50,780
Non-Retail £109,090 £107,320 £104,910
Staff turnover 63% 54% 49%
Retail 71% 60% 59%
Non-Retail 18% 18% 16%

The increase in total staff costs per FTE reflects increased wage costs driven by living wage. All staff at YMCA England & Wales are on at least the median salary for their role when compared to the sector. Within shops the annual living wage increase was implemented and is subsequently reflected in the Retail manpower model. Much work has been done on recruitment. The reduction in net income for retail recognises the challenging environment whilst there is improvement revenue per non-retail staff member. The increase in staff turnover has been due to the size of the retail team reducing due to a Retail Management restructure as well as closure of underperforming stores.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Measures for use of assets

The following measures relate to the use of assets:

2025 2024 2023
Operational surplus as % of turnover (2.47%) 0.44% 4.80%
(excludingsale of assets)
Staff costs as % of total expenditure 55% 49% 47%
Expenditure as % of budgeted costs 90% 103% 97%
Unrestricted bank and investment £11.5m £12.7m £13.1m
balances

The deterioration in performance has been due to reduced Retail income only partly offset by expenditure savings but also having absorbed significant additional wage costs due to living wage changes. Alongside this there has been both investment in pursuing Federation Strategy priorities and reduced net fundraising income retained. Unrestricted bank and investment balances have fallen due to both the operating deficit and payment of pension obligations.

Measures for return from our Retail and Fundraising operations

The following measures relate to performance of our retail and fundraising activities, which make up a significant proportion of the activity of YMCA England & Wales:


& Wales:
2025 2024 2023
RETAIL OPERATIONS
Average number of shops 105 113 107
Average weekly income £2,939 £2,795 £2,657
Average number of staff 432 408 362
Full time equivalent
337 322 290
FUNDRAISING OPERATIONS
Gift Aid penetration in 76% 74% 65%
fundraising
Return on Investment in 1.87x 1.61x 2.35x
Fundraising

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YMCA England & Wales | Annual Report and Accounts 2024–25

Retail operations

The average weekly income for shops has increased in 2024-25, with the reduced net performance driven by the increased cost base. Whilst measures have been taken to reduce costs where there is discretion this has led to a lower profitability per shop and employee. It is hoped that whilst 2025-26 will see further increases to the cost base driven by statutory changes to living wage and national insurance, due a restructuring and increased focus on net income there can be a return to prior levels of profitability.

Fundraising

Whilst previously the key challenge on fundraising has been in relation to legacy income this has delivered close to budget in 2024-25 with income of £1m (2024: £0.6m). Elsewhere restricted income has increased to £0.8m (2024: £0.6m) leading to increased distributions to the Federation. RoomSponsor income is also slightly improved on prior year with income of £1.4m (2024: £1.3m) but with reduced unrestricted income of £0.95m (2024: £1.1m). Whilst a positive income position this needs to be set against an increasing cost base, albeit noting that this includes significant investment, specifically in RoomSponsor, which it is hoped will generate future benefit by retaining and growing YMCA donors for future years so that we can collectively deliver to more beneficiaries.

Measures for our housing operations

YMCA England & Wales no longer has any housing stock. We are however discussing with the Regulator for Social Housing how we ensure that we retain the necessary Registered Provider status to access any national opportunities, which will require holding (or intent to hold) social housing stock.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Corporate Governance Statement

Structure, Governance and Staff

YMCA England & Wales

The first YMCA was founded by George Williams in London in 1844. YMCA England was established in 1882, registered as a charity on 24 September 1962 and took over responsibility for YMCAs in Wales on 3[rd] December 2015. YMCA England & Wales is a company limited by guarantee (incorporated in 1902), a registered social landlord and a registered charity governed by its Memorandum and Articles of Association.

A worldwide movement of YMCAs

Each YMCA in England and Wales is an individual, self-governing charity that affiliates to YMCA England & Wales. Through this affiliation, YMCAs become part of the YMCA movement in England and Wales, and part of the World Alliance of YMCAs.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Governance

The Board guides YMCA England & Wales in its work and development. It provides strategic direction and challenge to the Senior Leadership Team which is responsible for decisions on operational issues. The Board comprises no more than 12 Trustees elected by members and three co-options i.e. not more than 15 in total. Trustees serve for a three-year term and may be re-elected for two further three-year terms. Once a Trustee has served nine consecutive years, they must wait one year before they can stand for re-election. We hold elections to fill vacancies annually as necessary. Applications for Board membership are invited from across the YMCA movement and by external advertisement and are considered by the Nominations Committee based on relevant skills, competencies and experience.

YMCA England & Wales continually seeks to improve and strengthen its governance duties to ensure these are fit for purpose. YMCA England & Wales has adopted the Charity Governance Code and has achieved the Trusted Charity Level 1 Accreditation. The Board confirms that YMCA England & Wales fully complies with the Regulator of Social Housing Governance and Financial Viability Standard. During 2024-25, one new Trustee appointment was made to the Board. A full listing can be seen on page 58. YMCA England & Wales has Trustee indemnity insurance.

Committee Structure

During the year the Board of Trustees had three standing Committees. These were:

  1. The Finance and Audit Committee which oversees the management and direction of the finances of YMCA England & Wales, monitors the effectiveness of audit and reviews our risk management processes. Key financial decisions are submitted to the Finance and Audit Committee for consideration.

  2. The Governance Committee provides advice on the governance of the National Council and on governance issues for the YMCA Federation in England and Wales.

  3. The Nominations Committee aid the YMCA in the appointments process in relation to presidents and vice presidents.

  4. The Income Generation Committee supports the National Council in fulfilling its governance and oversight responsibilities in relation to Income Generation specifically in relation to retail and fundraising.

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YMCA England & Wales | Annual Report and Accounts 2024–25

These committees comprise members from the Board of Trustees, members from local YMCAs plus independent persons with specialist expertise. All the above have terms of reference and meet regularly.

Board member’s induction and development

Induction training is offered to all Trustees. In addition, each new Board member receives background information on the operations of YMCA England & Wales. Where appropriate, Board members are encouraged to visit the work of YMCAs to develop understanding, including attendance at national and international events.

Code of Governance

A self-assessment review has previously been undertaken against the Code of Governance in 2023 to identify and inform areas for improvement. This has included an assessment of all aspects of the charity's governance and will inform future developments. Following this the Level 1 Trusted Charity Accreditation has been achieved, which included all aspects of governance and overlaps with the code of governance. It is proposed to revisit the Code of Governance in 2026 to now assess this against the completed standard and action plan.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Organisation structure

The members of staff based in London operate from Charterhouse Square. During the year our operations were organised into divisions, each headed by a Director:

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YMCA England & Wales | Annual Report and Accounts 2024–25

► Income Generation covering:

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YMCA England & Wales | Annual Report and Accounts 2024–25

Staff and volunteers

YMCA England & Wales relies on the skills and dedication of its staff throughout all of our activities. The Chief Executive holds a monthly consultation for staff on topical issues and regular updates for staff are provided via our intranet site.

The average number of staff we employed during 2024-25 was 497 (2024: 469). Note 3.5 gives more detail on employee costs and staff numbers whilst note 3.6 gives details of the expenses reimbursed to trustees and senior staff.

YMCA England & Wales seeks to employ staff with the right skills for their role. Salaries have been benchmarked against the median salaries for roles within the sector. The Chief Executive earned £145k pa plus pension contributions of £26k for the year (2024: £138k plus pension contributions of £24k). The majority of our staff (over 80% based on headcount) work part-time in the Retail operation where salaries are set based on the living wage. For the remaining staff the average salary is £47,442, giving a remuneration ratio of 3.05 to the Chief Executive (2024: average salary was £46,775 with a remuneration ratio of 2.95).

We owe a huge debt of gratitude to the efforts of our volunteers, whose energy and commitment is vital to our work. The majority of our volunteers (approximately 1,200) are based in our Retail operations, contributing over 25,000 hours per month. Others are involved in fundraising, raising awareness of our work at public events and contributing to our governance on the Board, committees, panels and advisory groups.

How we engage with our employees

Throughout the year the Board, through the Chief Executive and Leadership Team, have ensured an active dialogue with employees to ensure that staff have been equipped with information in relation to day-to-day performance and future plans (as well as financial and operational information that provides context to decision making). This has included frequent written communication, staff meetings, team meetings, opportunities for staff to come together to talk about concerns as well as more social opportunities. These have included significant wellbeing initiatives including our ‘Time to Talk’ sessions, opportunities to meet with chaplains and wider HR access to counselling and support. We actively encourage all our employees to visit local YMCAs during the year. These have all helped with the management of staff morale and welfare during the last year – ensuring that staff are valued, feel involved, appraised of the position, and that their views are taken into account when leadership are making decisions. In 2025-26 we are to embark on the Great Place to Work accreditation, building on Trusted Charity but with a people focus and to ensure that we are doing all that we can to make YMCA England & Wales a great place to work.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Equality, diversity and inclusion

Inclusiveness is fundamental to the ethos of the YMCA Movement. We have a wholehearted commitment to welcome people of other faiths and those of none, linked to a confident identity as a Christian faith-based organisation. This includes ensuring that diversity is reflected strongly within our structures and that the services and activities managed by YMCA England & Wales are designed to provide equal opportunities – with the Board and Leadership Team undertaking unconscious bias training. A great deal of work has been undertaken to improve equality, diversity and inclusion. This has included the development of a strategy that ensures ownership to the agenda, raises awareness and implements a number of targeted actions. In relation to ethnicity YMCA England & Wales employs 10.1% of employees identifying as belonging to an ethnic minority background. Aligned to our EDI policy we continue to take forward actions in this area to ensure representation from all backgrounds and specifically include a statement on all job adverts concerning and welcoming applications from the individuals of all backgrounds. Alongside this we continue to work on inclusivity including addressing this through our Recruitment Policy and Procedure and reviewing the job boards and wider approaches that we use to recruit.

Salaries are based on the role regardless of the gender of the person performing the duties. YMCA England & Wales operates a staff grading system for all roles, where points are allocated based on the skills and responsibility of each role which determines the salary level for that role. Salary levels for each grade are set by benchmarking against other voluntary sector organisations, as well as using our own system (and reviewed against an external benchmarking tool). As we have more than 250 staff, we are required to give our gender pay analysis in the statutory format, as at 5 April 2025:

Paylevel Male employees Female Employees
Number of employees 132 343
Quartile 1(highest) 39% 61%
Quartile 2 23% 77%
Quartile 3 21% 79%
Quartile 4(lowest) 27% 73%
Average hourlyrate £16.24 £14.87
Median hourly rate £12.70 £12.40

As is shown in the table above, over two thirds of the staff working for YMCA England & Wales at April 2025 were female. In addition, over 85% of the staff employed by YMCA England & Wales work in Retail (many of whom welcome the ability to work part-time) and consequently means that a more significant percentage of staff fall within the lower quartile bands.

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YMCA England & Wales | Annual Report and Accounts 2024–25

As a consequence, the above analysis is distorted and it is more meaningful to separate out the results of Retail staff from non-Retail staff which provides for the following analysis:


he following analysis:

Retail employees Non-Retail employees
Pay level Male Female Male Female
Quartile 1(highest) 25% 21% 13% 40%
Quartile 2 23% 77% - -
Quartile 3 21% 79% - -
Quartile 4(lowest) 27% 73% - -
Average hourlyrate £13.86 £12.98 £32.34 £25.72
Median hourly rate £12.40 £12.40 £26.93 £23.07

The above analysis is further explained below:

Every role within YMCA England & Wales is benchmarked and considered against the market. We ensure our assessment of salaries is undertaken against a robust job evaluation process and consistent with our range of policies that ensure fair recruitment. We continue to review the implications of our gender pay gap statement and specifically the gender balance of staffing across the organisation – in particular at the higher quartiles – and have undertaken a review of our pay and grading framework.

Due to the increased cost of living and inflation rates a 7% increase was awarded in April 2023 with a further 5% award in April 2024 and 2% from April 2025 recognising the challenging financial environment.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Employment of disabled persons

We operate an equal opportunities employment policy. In particular, we give full and fair consideration to applications for employment and volunteering made by people who are disabled having regard to their particular aptitudes and abilities. Where possible, we continue the employment of, and arrange appropriate training for, employees who have become disabled during the period they were employed. People who are disabled are treated in the same way as other employees and volunteers when training, career development and promotion opportunities are being considered. Full details of these and our other policies are available on request from our registered office.

Safeguarding

As an organisation that works in communities and with young people the YMCA England & Wales Board recognises its responsibilities in relation to safeguarding, and promoting a climate in which individuals are able to report their concerns in confidence and have these dealt with appropriately. The Board have an appointed individual with responsibility for safeguarding and safeguarding is a standing item at all Board meetings, with the Board being informed on not only current status but also progress against the actions that make up the Safeguarding Strategy.

Transparency and individual understanding of the practices and procedures to be followed are key in ensuring that all individuals feel safe in any engagement with YMCA England & Wales (whether an employee, volunteer or user of services). We have continued work in relation to our Safeguarding Strategy ensuring continuous improvement in our policies, practices and procedures to ensure that these remain appropriate. Actions taken have included improvements to our recruitment procedures, ensuring that all members of staff receive safeguarding training, additional steps to encourage and enable staff to report any safeguarding concerns (especially with staff working virtually) as well as more detailed training for all line managers on safeguarding, in particular on how to encourage reporting and their role in subsequent action given their position in the organisation. Further to this there is frequent monitoring by appointed leads of the My Concern tool.

Whilst highlighting these improvements, the Board are not complacent in their responsibilities, recognising that there is always more to do with a need to continue to learn and adapt to changes in the environment. Work is therefore continuing to be taken forward in the identified actions.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Statement of Trustees' Responsibilities

The Trustees are responsible for preparing the strategic report, the Trustees' annual report and the financial statements in accordance with applicable law and regulations.

Company and social housing regulations require the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent charity and of the surplus or deficit of the group for the year. In preparing financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the group and parent’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent charity and enable us to ensure that the financial statements comply with the requirements of the Companies Act 2006, Housing and Regeneration Act 2008, and the Accounting Direction for Private Registered Providers of Social Housing from January 2022. They are also responsible for safeguarding the assets of the group and parent charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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YMCA England & Wales | Annual Report and Accounts 2024–25

The Trustees are responsible for ensuring that the report of the Board is prepared in accordance with the Statement of Recommended Practice: Accounting by registered social housing providers 2014. Financial statements are published on YMCA England & Wales website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of this website is the responsibility of the board. The Board’s responsibility also extends to the ongoing integrity of the financial statements contained therein.

Members of the Board of Trustees

The members of the Board of Trustees who served during the year, including the Chairman, Vice Chair and the Senior Leadership Team are listed on pages 58 to 60.

Appointment of auditors

The Finance and Audit Committee agree the audit strategy each year during which they assess the independence of external auditors. External audit services are placed out to tender every five years and were last reviewed in 2020. It is proposed that a tender will be issued later in 2025 to seek auditors.

Disclosure of information to auditors

Each of the Board members (who are also Trustees and directors of YMCA England & Wales) has confirmed that so far as they are aware, there is no relevant audit information of which the auditors are unaware, and that they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The Strategic and Trustee reports were approved by the Board of Trustees on 16 September 2025 and signed on its behalf by

Roy O’Shaughnessy Chair

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YMCA England & Wales | Annual Report and Accounts 2024–25

Trustees and Advisors

Vice-presidents: Val Wallis MBE[4] Peter Posner OBE

Board members:

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YMCA England & Wales | Annual Report and Accounts 2024–25

Membership of committees, panels and advisory groups during the year ended March 2025:

  1. Finance and Audit Committee (two Board members plus up to six independent members)

  2. Governance Committee (one Board member plus five independent members)

  3. Nominations Committee (Up to three Board members, one being the Chair, Chair of a Member YMCA plus two independent members and CEO as exofficio)

  4. Income Generation Committee (minimum of two Board members, one being the Chair), three members who are not Board members but have skills in the required areas)

  5. Archives Group (a Vice-President plus four independent members)

All members of the Board and its committees and groups give their time voluntarily and receive no benefits from YMCA England & Wales. Any expenses reclaimed are set out in note 3.6 to the accounts.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Advisors

Auditors: Bankers: Solicitors: Crowe U.K. LLP Lloyds Bank plc Bates, Wells & 55 Ludgate Hill 4th Floor, Braithwaite LLP London EC4M 7JW 25 Gresham Street, 10 Queen Street Place, London, EC2V 7HN London EC4R 1BE

Barclays Bank plc EDC Lord & Co Charities Team, One the Square Level 27 Southall Lane, 1 Churchill Place Southall London E14 5HP Middlesex, Heathrow UB2 5NH

Senior staff

Chief Executive and National Secretary of the Council of YMCAs in England and Wales:

Senior Leadership Team:

Registered Office:

Third Floor, 10–11 Charterhouse Square, London EC1M 6EH

Registered charity number: 212810 Registered company number: 73749 Homes England agency number: LH2204

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YMCA England & Wales | Annual Report and Accounts 2024–25

Independent Auditor’s Report

To the Members of the National Council of Young Men’s Christian Associations (Incorporated)

Opinion

We have audited the financial statements of National Council for Young Men’s Christian Associations (Incorporated) (‘the charitable company) and its subsidiaries (the “group) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity, the Consolidated and Parent Balance Sheets, the Consolidated and Parent Statement of Cash Flows and notes to the financial statements, including significant accounting policies. 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:

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YMCA England & Wales | Annual Report and Accounts 2024–25

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 group 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 trustees 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 group’s or the charitable 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 trustees with respect to going concern are described in the relevant sections of this report.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Other information

The trustees are responsible for the other information contained within the annual report. 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.

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 be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion based on the work undertaken in the course of our audit

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YMCA England & Wales | Annual Report and Accounts 2024–25

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 or the Housing and Regeneration Act 2008 requires us to report to you if, in our opinion:

As explained more fully in the statement of Trustees’ Responsibilities on page 56, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 the trustees determine is necessary to enable the preparation of 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 group’s and the charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

64

YMCA England & Wales | Annual Report and Accounts 2024–25

Auditor’s responsibilities for the audit of the financial statements

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 to 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.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: frc.org.uk/auditorsresponsibilities

This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, the Housing and Regeneration Act 2008, together with the Housing SORP. We assessed the

65

YMCA England & Wales | Annual Report and Accounts 2024–25

required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within charitable company for fraud. The laws and regulations we considered in this context for the UK operations were requirements imposed by the Regulator of Social Housing, GDPR, taxation legislation, health & safety legislation and employment legislation.

Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, legal counsel and the Finance, Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence, and reading minutes of meetings of those charged with governance.

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.

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YMCA England & Wales | Annual Report and Accounts 2024–25

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Vincent Marke Senior Statutory Auditor For and on behalf of

Crowe U.K. LLP Statutory Auditor London

Date: 26 September 2025

67

FINANCIAL STATEMENTS 68

YMCA England & Wales | Annual Report and Accounts 2024–25

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

Year ended 31 March 2025

Note
INCOME FROM
Donations and legacies
2.1
Affiliation fees
2.2
Income from charitable activities
2.3
Income from trading activities
2.4
Investments, interest and rental income
2.5
(Loss) profit on disposal of fixed assets
2.6
TOTAL INCOME
EXPENDITURE FROM
Costs of raising funds
3.1
Expenditure on charitable activities
3.2
Operating costs of trading activities
3.3
TOTAL EXPENDITURE
NET (EXPENDITURE) INCOME FOR THE YEAR
Net gains (losses) on investments
7.
Other recognised gains and losses:
(Losses) gains on defined benefit pension schemes
NET MOVEMENT IN FUNDS
Reconciliation of funds
Fund balances at 1 April
FUND BALANCES AT 31 MARCH		 UNRESTRICTED
RESTRICTED
TOTAL
£'000
£'000
£'000
3,502
786
4,288
1,310
-
1,310
256
-
256
16,721
-
16,721
435
30
465
(60)
-
(60)
22,164
816
22,980
2,293
-
2,293
4,200
1,286
5,486
15,830
-
15,830
22,323
1,286
23,609
(159)
(470)
(629)
180
(1)
179
(107)
-
(107)
(86)
(471)
(557)
10,511
1,326
11,837
10,425
855
11,280
2025		 2024
UNRESTRICTED
RESTRICTED
TOTAL
£'000
£'000
£'000
3,077
596
3,673
1,212
-
1,212
134
-
134
16,973
-
16,973
785
41
826
(63)
4
(59)
22,118
641
22,759
2,287
-
2,287
4,465
936
5,401
15,030
-
15,030
21,782
936
22,718
336
(295)
41
577
4
581
2,770
-
2,770
3,683
(291)
3,392
6,828
1,617
8,445
10,511
1,326
11,837

The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 75 to 85 form part of these accounts.

COMMENTARY:

The increase in Fundraising income has largely arisen from legacy income. Retail income has dropped due to the challenging economic environment but has been offset by contract income reported within trading acivities.

Expenditure on charitable activites includes payments of £0.9m to local YMCAs for Roomsponsor and Retail profit shares plus £0.3m on the contract income. Retail expenditure has increased due to the additional staffing costs arising from increases in minimum wage.

YMCA England & Wales is reporting an operating deficit on general funds of £0.16m for the year (2024: £0.34m operating surplus). During the year, investment values increased by £0.2m (2024: £0.6m plus the prior year benefited from the pension triennial valuation resulting in a significant reduction in future pension contributions).

The net decrease in unrestricted funds is £0.09m (2024: increase £3.7m) with a decrease in restricted funds of £0.5m due to spending of funds raised in previous periods (2024: decrease £0.3m).

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YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

STATEMENTS OF COMPREHENSIVE INCOME

Year ended 31 March 2025

Note
Income
Operating Costs
Operating surplus (deficit)
Investment income
4.
Interest and rents receivable
4.
Profit (loss) on sale of assets
Net (losses) gains on investment assets
SURPLUS (DEFICIT) FOR THE YEAR
Gains (losses) on defined benefit pension schemes
TOTAL COMPREHENSIVE INCOME FOR YEAR		 GROUP
TOTAL
PARENT
£'000
£'000
22,596
21,933
(23,609)
(23,306)
(1,013)
(1,373)
346
346
98
94
(60)
(60)
179
179
(450)
(814)
(107)
(107)
(557)
(921)		 GROUP
TOTAL
PARENT
£'000
£'000
22,010
21,738
(22,718)
(22,693)
Year ended March 2024
(708)
(955)
692
692
116
116
(59)
(59)
581
581
622
375
2,770
2,770
3,392
3,145

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024

Surplus (deficit) at 31 March 2023
Net income (expenditure) for the year
Net (losses) gains on investments
Transfers between funds
Other recognised gains and losses
Surplus (deficit) at 31 March 2024		 Unrestricted
Restricted
General
Designated
Pension
Funds
Funds
TOTAL
£'000
£'000
£'000
£'000
£'000
£'000
13,011
-
(6,183)
6,828
1,617
8,445
(669)
-
1,005
336
(295)
41
577
-
-
577
4
581
(2,000)
2,000
-
-
-
-
-
-
2,770
2,770
-
2,770
10,919
2,000
(2,408)
10,511
1,326
11,837

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025

Surplus (deficit) at 31 March 2024
Net income (expenditure) for the year
Net (losses) gains on investments
Other recognised gains and losses
Surplus (deficit) at 31 March 2025		 Unrestricted
Restricted
General
Designated
Pension
Funds
Funds
TOTAL
£'000
£'000
£'000
£'000
£'000
£'000
10,919
2,000
(2,408)
10,511
1,326
11,837
(1,000)
-
841
(159)
(470)
(629)
180
-
-
180
(1)
179
-
-
(107)
(107)
-
(107)
10,099
2,000
(1,674)
10,425
855
11,280

The notes on pages 75 to 85 form part of these accounts.

COMMENTARY:

This page shows the results for YMCA England & Wales in the format required by the Companies Act 2006. All activities are non-housing.

70

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

Company number: 00073749

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

BALANCE SHEETS

As at 31 March 2025

Note
FIXED ASSETS
Tangible Assets:
Other tangible assets
6.
Fixed asset investments
7.
Investments in subsidiaries
8.
CURRENT ASSETS
Stocks
9.
Debtors
10.
Due within one year
Due after one year
Short-term deposits
Cash and cash equivalents
CREDITORS: Amounts falling
due within one year
11.
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
CREDITORS: Amounts falling
due after one year:
Provisions for liabilities
12.
Pension scheme obligations
13.1
NET ASSETS
The funds of the charity:
Restricted Funds
14.
Unrestricted Funds:
Designated reserve
15.
General funds
16.
Pension reserve		 Unrestricted
Restricted
GROUP
Funds
Funds
TOTAL
PARENT
£'000
£'000
£'000
£'000
679
-
679
679
10,857
41
10,898
10,898
-
-
-
1
11,536
41
11,577
11,578
281
-
281
281
2,684
-
2,684
2,538
725
-
725
725
-
433
433
433
678
435
1,113
1,068
4,368
868
5,236
5,045
(3,924)
(54)
(3,978)
(3,788)
444
814
1,258
1,257
11,980
855
12,835
12,835
(704)
-
(704)
(704)
(851)
-
(851)
(851)
10,425
855
11,280
11,280
-
855
855
855
2,000
-
2,000
2,000
10,099
-
10,099
10,099
(1,674)
-
(1,674)
(1,674)
10,425
855
11,280
11,280
31 March 2025		 Unrestricted
Restricted
GROUP
Funds
Funds
TOTAL
PARENT
£'000
£'000
£'000
£'000
713
-
713
713
12,677
42
12,719
12,719
-
-
-
1
31 March 2024
13,390
42
13,432
13,433
286
-
286
286
2,191
-
2,191
2,255
773
-
773
773
-
446
446
446
25
1,053
1,078
1,003
3,275
1,499
4,774
4,763
(3,735)
(215)
(3,950)
(3,940)
(460)
1,284
824
823
12,930
1,326
14,256
14,256
(834)
-
(834)
(834)
(1,585)
-
(1,585)
(1,585)
10,511
1,326
11,837
11,837
-
1,326
1,326
1,326
2,000
-
2,000
2,000
10,919
-
10,919
10,919
(2,408)
-
(2,408)
(2,408)
10,511
1,326
11,837
11,837

The notes on pages 75 to 85 form part of these accounts.

These accounts were approved and authorised for issue by the Board on 16 September 2025.

Roy O’Shaughnessy Chair

Peter Calderbank Treasurer

COMMENTARY:

Investments are held to meet future pension obligations and more then cover the pension reserve. The pension reserve decreased last year due to the triennial pension valuation resulting in significantly reduced future pension contributions, which enabled YMCA England and Wales to set aside a designated fund towards the anticipated costs of a future buy-out of the pension plan.

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YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

STATEMENT OF CASH FLOWS

Year ended 31 March 2025

CASHFLOWS FROM OPERATING ACTIVITIES
Net income for the year
Loss on disposal of fixed assets
Depreciation charge
Return on investments and servicing of finance
Decrease in stocks
(Increase) decrease in debtors
Increase (decrease) in creditors and deferred income
NET CASHFOW GENERATED FROM OPERATING ACTIVITIES
CASHFLOWS FROM INVESTING ACTIVITIES
Decrease (increase) in funds on short term deposit
Investment income
Interest received
Cash inflow from sale of fixed assets
Cash (outflow) from purchase of other fixed assets
NET CASHFLOW FROM INVESTING ACTIVITIES
CASHFLOWS FROM FINANCING ACTIVITIES
Pension deficit payments
Funds received from (placed on) long term investment
Funds received from (placed on) short term deposit
NET CASHFLOW FROM FINANCING ACTIVITIES
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Cash at bank and in hand at 1 April
Cash at bank and in hand 31 March		 31 March 2025
Group
Parent
£'000
£'000
(629)
(629)
61
61
396
396
(444)
(444)
5
5
(445)
(235)
159
(21)
(897)
(867)
13
13
346
346
98
98
457
457
-
-
(423)
(423)
34
34
(1,102)
(1,102)
2,000
2,000
-
-
898
898
35
65
1,078
1,003
1,113
1,068		 31 March 2024
Group
Parent
£'000
£'000
41
41
59
59
469
469
(808)
(808)
9
9
560
561
(541)
(544)
(211)
(213)
(34)
(34)
692
692
116
116
774
774
4
4
(582)
(582)
196
196
(1,229)
(1,229)
-
-
72
72
(1,157)
(1,157)
(1,172)
(1,174)
2,250
2,177
1,078
1,003

ANALYSIS OF CHANGES IN GROUP NET DEBT

Cash and cash equivalents
Short-term deposits
ANALYSIS OF CHANGES IN PARENT NET DEBT
Cash and cash equivalents
Short-term deposits		 At 31 March
At 31 March
2025
Operational
2024
£'000
£'000
£'000
1,113
35
1,078
433
(13)
446
1,546
22
1,524
At 31 March
At 31 March
2025
Operational
2024
£'000
£'000
£'000
1,068
65
1,003
433
(13)
446
1,501
52
1,449

The notes on pages 75 to 85 form part of these accounts.

72

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

ACCOUNTING POLICIES

Year ended 31 March 2025

1. ACCOUNTING POLICIES
National Council of Young Men's Christian Associations (Incorporated) is a public benefit entity (PBE), as defined in Financial Reporting Standard 102
(FRS102) and applies the relevant paragraphs prefixed 'PBE' in FRS102. The most important accounting policies are:
1.1 BASIS OF ACCOUNTING
These financial statements are prepared under the historical cost convention, except for the valuation of investments and social housing properties, and
comply with the Accounting Direction for Private Registered Providers of Social Housing from April 2015, the Statement of Recommended Practice
issued by the National Federation of Housing Associations (the Housing SORP) and "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
Ireland (FRS 102)" issued by the Charity Commission (the Charities SORP (FRS 102)), where this does not conflict with the Housing SORP, the
Charities Act 2011 and the Companies Act 2006.
As disclosed on page 32, the trustees are responsible for preparing the financial statements on a going concern basis unless it is inappropriate to
presume that the charity will continue on this basis. The trustees have undertaken an assessment in relation to going concern and has considered such
matters as the level of reserves, together with the Plan’s forecasted future results. The trustees have determined that there is not a material uncertainty
as to the ability of the charity to continue as a going concern for the foreseeable future and the trustees therefore believe it remains appropriate to
prepare the financial statements on a going concern basis.
1.2 BASIS OF CONSOLIDATION
The National Council of YMCAs is required to prepare consolidated financial statements on a line-by-line basis including the results of the company's
trading subsidiary (YMCA Retail Limited), and the operations of Dunford Trust, Douglas Wood Charity and the YMCA Trust Fund.
Prior to the gift aid payment from the subsidiaries, the gross income of the parent company was £22.3m (2024: £22.3m) and the net movement in funds
reported for the year includes a deficit of £1m (2024: surplus £3.1m) which is dealt with in the financial statements of the parent company.
1.3 GENERAL
The Statement of Financial Activities records the activities of the National Council of YMCAs and its subsidiary, both as an affiliating body and of
operating projects on a national basis and the balance sheet sets out its assets and liabilities. In addition to its own assets, properties and investments
are registered in the name of YMCA England & Wales as formal trustee for Associations. These assets are excluded from these financial statements.
Restricted funds are raised for specific purposes and may only be used for the specified purpose. The movement on these funds are separated from
movements in unrestricted funds on the Statement of Financial Activities and the amount at the balance sheet date is shown in note 14. Where funds
are in deficit they are charged against the General Fund.
1.4 DUNFORD HOUSE
This property was held by YMCA England & Wales as trustee, and under the terms of the Trust Deed any income can only be applied for specified
purposes accordingly this is shown as a movement on restricted funds.
1.5 TURNOVER
The total income represents the amounts receivable exclusive of VAT in respect of operational activities, grants receivable and fundraising activities. All
income arose in the United Kingdom.
All income from operations, grants and fundraising is recognised in the Statement of Financial Activities when any conditions relating to the income
have been satisfied, and any amounts in respect of future periods are carried forward as deferred income.
Goods donated for sale in the charity shops are included at their sales value. Gifts received in kind are included in income at their market value with a
corresponding charge included within expenditure.

Grants of a revenue nature are credited to the Statement of Comprehensive Income in the period to which they relate. 1.6 LEGACIES Legacies are recognised within income and debtors when probate is granted unless there are specific conditions preventing receipt, eg a life tenant. At the year end there were 5 legacies notified but not recognised as unable to calculate a reliable estimate of their value (2024: 9 legacies) and 9 legacies subject to life tenants with an estimated value of £44k (2024: 7 legacies with estimated value of £74k) which are held in property and investments.

1.7 CAPITAL EXPENDITURE AND DEPRECIATION Fixed assets are items costing in excess of £1,000 with a useful life of more than one year and are stated at cost less depreciation. The depreciation charge is calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows: Freehold buildings - 50 years Leasehold land and buildings - Period of the lease or earlier break Shop leases and shop fittings - Period of the lease or five years whichever is less Computers and equipment - 3 years straight line Estimated provisions are made for significant leasehold property dilapidation liabilities.

73

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

ACCOUNTING POLICIES

Year ended 31 March 2025

1.8
1.9
1.10
1.11
1.12
1.13
1.14
1.15
1.16		 STOCKS AND WORK IN PROGRESS
Stocks and work in progress are stated at the lower of cost and net realisable value. Goods donated for sale in the charity shops are included at
their value when sold.
EXPENDITURE
Expenditure is accounted for on an accruals basis. Direct expenses are allocated to the department incurring the expenditure. Expenditure is
stated inclusive of irrecoverable VAT. During the year ended 31 March 2025 YMCA England and Wales incured VAT of £104,415 (2024: £48,567)
which it was unable to recover.
Costs of generating funds includes all fundraising departments and operating costs for the trading subsidiaries.
Charitable activities comprises expenses attributable to the operating departments as detailed in note 3.2. Central services are allocated to
activities/departments based on the estimated usage of the services on the following basis:
Function
Allocation basis
Office Services
Average number of employees
Central overheads
Average number of employees
Personnel and payroll
Average number of employees
Finance
Non-staff expenditure
IT
Number of PCs
INVESTMENTS
FRS102 provides that investments should be shown as fixed assets at their market value. To comply with FRS102 investment gains and losses
have to be shown on the face of the Statement of Comprehensive Income.
Investments in subsidiary companies are stated at cost less accumulated impairment.
Investment income is accounted for on a receivable basis.
OPERATING LEASES
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the term of the lease.
PENSIONS
YMCA England and Wales participated in a multi-employer defined benefit pension plan for employees of YMCAs in England, Scotland and
Wales, which was closed to new members and accruals on 30 April 2007. Due to insufficient information, the plan's actuary has advised that it is
not possible to separately identify the assets and liabilities relating to YMCA England & Wales.
As described in note 13, YMCA England & Wales has a contractual obligation to make annual pension deficit payments of £0.82m over the period
to April 2027 (2024: £0.82m pa over period to April 2027), accordingly this is shown as a liability in these accounts. In addition, YMCA England &
Wales is required to contribute £257k (2024: £262k) pa to the operating expenses of the Pension Plan and these costs are charged to the
Statement of Comprehensive Income as made.
As described in note 13 a defined contribution scheme has been set up which all staff are eligible to join.
LIABILITIES
Liabilities are recognised when YMCA England & Wales has an absolute obligation to make payment to a third party.
CASH AT BANK AND IN HAND
This includes amounts held on accounts with access within thirty days. Amounts held on longer term notice are shown as short-term deposits.
Liquid resources for the purposes of the cashflow statement comprise bank and cash balances.
FOREIGN CURRENCIES
Items paid in foreign currencies are translated at the exchange rate incurred for that transaction.
JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In preparing these financial statements, the key judgements have been made in respect of the following:
- Whether there are indicators of impairment of the group’s assets. Factors taken into consideration in reaching such a decision include the
economic viability and expected future financial performance of the asset;
- Depreciation of tangible assets is based on their estimated useful lives;
- Provision is made for future leasehold property dilapidation costs at the best estimate of the likely future liability based on the nature and
condition of the property;
- Recoverability of the loans made to other YMCAs;
- Donated stock has no value until it is sold. The value of items held at the year end is therefore based on the average sales in the first two weeks
of April;
- The discount factor used for pension deficit contributions in future years;
- The underlying assumptions in relation to the estimate of the pension plan obligations such as return on assets, increases in pensions in
payment and mortality. Variations in these assumptions have the ability to significantly influence the value of the pension liability and the annual
contributions required.

74

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

ANALYSIS OF TOTAL INCOME
2.1
DONATIONS AND LEGACIES
Individuals
Legacies
Corporate and Trusts
2.2
AFFILIATION FEES
2.3
INCOME FROM CHARITABLE ACTIVITIES
Movement Services
Communications, Policy & Research
Central Services
2.4
INCOME FROM TRADING ACTIVITIES
Income generated by charity shops
Trading companies (note 8)
2.5
INVESTMENTS, INTEREST AND RENTAL INCOME
Rental income
Investment income
Interest receivable
2.6
PROFIT (LOSS) ON SALE OF FIXED ASSETS
(Loss) on sale of assets
TOTAL INCOME
The above income includes the following statutory items:
Gift aid receivable
The figures shown above for 'Grants and contracts for services' incl
YMCA England & Wales benefits greatly from the involvement of its
contribution of volunteers is not recognised in these accounts.		 Grants and
Contracts
Other
TOTAL
for services
Income
2025
£'000
£'000
£'000
-
2,493
2,493
-
1,036
1,036
-
759
759
-
4,288
4,288
-
1,310
1,310
-
78
78
-
8
8
-
170
170
-
256
256
-
16,058
16,058
588
75
663
588
16,133
16,721
-
21
21
-
346
346
-
98
98
-
465
465
-
(60)
(60)
-
(60)
(60)
588
22,392
22,980		 Grants and
Contracts
Other
TOTAL
for services
Income
2024
£'000
£'000
£'000
-
2,461
2,461
-
626
626
-
586
586
-
3,673
3,673
-
1,212
1,212
-
34
34
-
20
20
-
80
80
-
134
134
-
16,701
16,701
-
272
272
-
16,973
16,973
-
18
18
-
692
692
-
116
116
-
826
826
-
(59)
(59)
-
(59)
(59)
-
22,759
22,759
ude amounts raised by fundraising staff for specific pu
many volunteers. In accordance with FRS 102 and th		 rposes.
e Charities SORP (FRS 102), the economic
£'000
£'000
£'000
-
945
945		 £'000
£'000
£'000
-
890
890

75

YMCA England & Wales | Annual Report and Accounts 2024–25

ANALYSIS OF TOTAL EXPENDITURE Staff Costs
Other
Payments to
Support
TOTAL
Staff Costs
Other
Payments to
Support
TOTAL		 (Note 3.5)
Costs
local YMCAs
Costs
2025
(Note 3.5)
Costs
local YMCAs
Costs
2024		 £'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000		 COSTS OF RAISING FUNDS Individuals
619
1,056
-
243
1,918
536
1,061
-
214
1,811		 Legacies
50
92
-
49
191
68
107
-
43
218		 Corporate and Trusts
80
7
-
97
184
145
28
-
85
258		 749
1,155
-
389
2,293
749
1,196
-
342
2,287		 CHARITABLE ACTIVITIES Movement Services
220
375
518
1,113
210
421
-
529
1,160		 Funding support
278
429
-
96
803
133
207
-
85
425		 Programme Development
125
101
120
74
420
135
102
224
73
534		 Communications, Policy & Research
766
389
310
1,465
688
390
-
262
1,340		 Legal Support and Trust & Association Funds
-
1
53
38
92
-
1
238
33
272		 Payments to YMCAs
-
-
935
-
935
-
-
1,005
-
1,005		 International Work
-
145
-
39
184
-
203
-
33
236		 Dunford House
-
5
-
-
5
-
137
-
-
137		 Defined benefit pension scheme operating expenditure
261
-
-
-
261
223
-
-
-
223		 Central Services (note 3.4)
1,553
1,156
6
(2,507)
208
1,354
1,192
-
(2,477)
69		 3,203
2,601
1,114
(1,432)
5,486
2,743
2,653
1,467
(1,462)
5,401		 OPERATING COSTS OF TRADING ACTIVITIES Operating costs of charity shops
9,126
5,358
-
1,043
15,527
7,714
6,171
-
1,120
15,005		 Trading companies (note 8)
-
23
280
-
303
-
25
-
-
25		 9,126
5,381
280
1,043
15,830
7,714
6,196
-
1,120
15,030		 TOTAL EXPENDITURE
13,078
9,137
1,394
-
23,609
11,206
10,045
1,467
-
22,718		 The grants payable are made to local YMCAs. 39
39
39
Other costs within "operating costs of charity shops" in note 3.3 includes dilapidation provisions of £113k (2024: £128k), which is the estimated value of dilapidation obligations arising on the retail units based on floor		 area.
3.1 3.2 3.3

76

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

3.4
Central Services
Fundraising
Basis of allocation
Activities
£'000
Office Services
London staff numbers
159
Central Overheads
Estimated time
31
Personnel and payroll
Average number of employees
122
Finance
Estimated time
107
IT
Number of PCs
66
TOTAL 2025
485
Fundraising
Basis of allocation
Activities
£'000
Office Services
London staff numbers
161
Central Overheads
Estimated time
33
Personnel and payroll
Average number of employees
126
Finance
Estimated time
58
IT
Number of PCs
49
TOTAL 2024
427
3.5
EMPLOYEE COSTS (including subsidiaries)
Staff costs comprise:
Wages & salaries
Social security costs
Employer's contribution towards pension scheme operating expenditure
Other pension costs
The average number of employees during the year, including
part time and seasonal staff, analysed by function was:
Average
Number
UK - charitable activities
20
UK - fundraising
21
UK - charity shops
432
UK - other activities
24
TOTAL
497
The number of employees whose emoluments exceeded £60,000
(including pension contributions) per annum during the year was as follows:
£60,001 to £70,000
£70,001 to £80,000
£80,001 to £90,000
£90,001 to £100,000
£120,001 to £130,000
£130,001 to £140,000
£140,001 to £150,000
£160,001 to £170,000
£170,001 to £180,000
Central service costs less the associated income (as shown in note 2.3) are allocated		 TOTAL
2025
£'000
406
619
686
595
201
are allocated across activities on the following basis:
Fundraising
Activities
£'000
159
31
122
107
66		 Retail
Influencing
activities
Activities
£'000
£'000
110
114
31
80
436
87
387
59
79
47		 Business
Movement
Development
Support
£'000
£'000
23
-
13
464
17
24
12
30
9
-
485 1,043
387		 74
518		 2,507
Fundraising
Activities
£'000
161
33
126
58
49		 Retail
Influencing
activities
Activities
£'000
£'000
158
102
33
84
374
79
441
32
114
31		 Business
Movement
Development
Support
£'000
£'000
25
-
13
486
20
27
7
16
8
-		 TOTAL
2024
£'000
446
649
626
554
202
427 1,120
328		 73
529		 2,477
TOTAL
2025
£'000
11,499
954
261
364
13,078
Full-time
Equivalent
19
21
337
24
401
Number
7
6
1
1
-
2
1
-
1
19		 TOTAL
2024
£'000
9,876
789
223
318
11,206
Average
Full-time
Number
Equivalent
15
14
21
19
408
322
25
24
497 469
379
ows: Number
6
2
1
1
2
1
-
1
-
14

YMCA England & Wales operates a salary sacrifice scheme for pension contributions. All staff are eligible to join the defined contribution pension scheme. The Chief Executive is an ordinary member of the YMCA Group Personal Pension Plan.

Total redundancy costs of £64,428 (2024: £3,860) arose from shop closures and £25,210 (2024: £nil) from other departments.

The following information is given in respect of those employees defined as "directors" by the Accounting Direction for Private Registered Providers of Social Housing 2022.

Aggregate remuneration (including pension contributions)
Highest paid (excluding pension contributions)
Employer pension contributions
Highest paid (including pension contributions)		 Number
4
20		 £'000
581
161
10
171
25		 Number
4
2		 £'000
554
024
153
9
162

77

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

Board meetings are a mix of face-to-face and conference call, board expenses of £4,142 were reimbursed (2024: £2,352). No board members received any remuneration for their services during the year (2024: £nil).

3.6
EXPENSES
Board meetings are a mix of face-to-face and conference call, board expenses of £4,142 were reimbursed (2024: £2,352). No board
any remuneration for their services during the year (2024: £nil).		 3.6
EXPENSES
Board meetings are a mix of face-to-face and conference call, board expenses of £4,142 were reimbursed (2024: £2,352). No board
any remuneration for their services during the year (2024: £nil).		 members rece
2025
£'000
Travel costs
3
Subsistence
1
Others
3
7
4.
NET EXPENDITURE FOR THE YEAR
The reported net income (expenditure) for the year is after charging:
2025
£'000
Operating lease rentals payable:
Property rentals
1,632
Motor vehicles
274
Equipment
18
1,924
Auditors remuneration:
Total (parent company £35,000 (2024: £33,250))
36
and after crediting:
Income from UK listed investments
346
Interest receivable:
- Interest on bank deposits
74
- Loan interest
24
98
Members of the Senior Leadership Team were reimbursed for the following items of expenditure:
2025
£'000
3
1
3
7
2025
£'000
1,632
274
18
1,924
36
346
74
24
98		 2024
£'000
4
1
2
7
2024
£'000
1,665
227
20
1,912
34
692
87
29
116

5. REGISTERED SOCIAL LANDLORD ACTIVITIES

All of the supported housing accommodation has been sold to the management agents, accordingly there were no housing units held at March 2024 or 2025.

78

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

TANGIBLE FIXED ASSETS
Land & Buildings Equipment TOTAL
Short
Freehold Leasehold
£'000 £'000 £'000 £'000
Cost:
At 1 April 2024 2 254 1,719 1,975
Additions - 41 382 423
Disposals - (7) (141) (148)
At 31 March 2025 2 288 1,960 2,250
Depreciation:
At 1 April 2024 1 219 1,042 1,262
Charge for the year - 32 364 396
Disposals - (5) (82) (87)
At 31 March 2025 1 246 1,324 1,571
NET BOOK VALUE:
31 March 2025 1 42 636 679
31 March 2024 1 35 677 713
The above analyisis includes Items held on leases:
31 March 2025 - 42 - 42
31 March 2024 - 35 - 35
The net book value at 31 March 2025 represents fixed assets used for:
Charitable Activities 1 - - 1
Management & administration - - 18 18
Retail Operations - 42 618 660
1 42 636 679
The net book value at 31 March 2024 represents fixed assets used for:
Charitable Activities 1 - - 1
Management & administration - - 25 25
Retail Operations - 35 652 687
1 35 677 713

The net book value of freehold land and buildings includes land at cost of £400 (2024: £400) which is not depreciated.

6.2 The majority of properties operated by the YMCA Movement throughout the country are owned by autonomous member YMCAs. Where the YMCA is unable to hold the title deeds itself these are held by the National Council as trustee for the YMCA. As these are not the equitable property of the National Council they are omitted from the above totals.

79

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

  1. INVESTMENTS

  2. 7.1 The unrestricted investments comprise investments in listed funds held in:

March 2025:
COIF Charities Ethical Investment Fund
UBS Managed Funds
March 2024:
COIF Charities Ethical Investment Fund
UBS Managed Funds
These funds are held to enable the charity to m
7.2
The restricted fixed asset funds at March 2024
Value at 31 March 2023
Unrealised gains (losses) during the year
Value at 31 March 2024
Unrealised gains (losses) during the year
Value at 31 March 2025
The fixed asset investments comprise investm
COIF Charity Investment Funds
8.
INVESTMENT IN SUBSIDIARIES
During the year, the charity had a trading comp
Name:
YMCA Retail Limited
A summary of its trading results is shown belo
Turnover
Cost of sales
GROSS PROFIT
Interest receivable
Administration costs
NET PROFIT
Amount Gift Aided
to YMCA England and Wales
Retained in subsidiary
Total Shareholders' Funds
During the year the charity had the following tr
Reimbursement of items paid
Transfer of income received
Transfer of payments made
Gift aid of profits		 March 2024
Unrealised
gains
(losses)
during the
year
£'000
£'000
6,132
(234)
6,545
414
At Market		 Disposals
March 2025
£'000

(500)
5,398
(1,500)
5,459
(2,000)
10,857
Disposals
March 2024
£'000
£'000
-
6,132
-
6,545
-
12,677
on scheme.
ford Trust.


March 2024
£'000
42
which covenanted its profits to the charity:
iness:
and sales of new goods
31 March 2025

YMCA
Retail
Limited
£000
663
(297)
366
4
(6)
364
(364)
-
1
ompany:
31 March 2025

£000
47
(824)
415
100
(262)
Value		 Investment Analysis:
Cash and
liquid
assets
Equities
Bonds
Property and
other
investments
TOTAL
£'000
£'000
£'000
£'000
£'000
129
3,876
423
970
5,398
69
4,233
777
380
5,459
12,677
180		 198
8,109
1,200
1,350
10,857
March 2023
Unrealised
gains
(losses)
during the
year
£'000
£'000
5,576
556
6,524
21		 Cash and
liquid
assets
Equities
Bonds
Property and
other
investments
TOTAL
£'000
£'000
£'000
£'000
£'000
150
4,348
528
1,106
6,132
99
4,991
1,083
372
6,545
12,100
577		 249
9,339
1,611
1,478
12,677
eet its future obligations to the pensi
and 2025 comprise funds held by Dun
Cost
Market value
£'000
£'000		 Type of
Share:
Holding:
Ordinary
100%
31 March 2024
YMCA
Retail
Limited
£000
272
(19)
253
-
(6)
247
(247)
-
1
31 March 2024
£000
16
-
-
247
263
8
38
-
4
8
42
-
(1)
8
41
ents in the following unit trusts:
March 2025
£'000
41
any (registered in England & Wales)
Company number
Nature of bus
02232462
Sponsorship
w:
ansactions with its subsidiary trading c

80

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

9.
STOCKS
Donated goods for resale
10.
DEBTORS
Due within one year
Other debtors
Other taxes
Prepayments and accrued income
Due from Group Undertakings
Due after one year (note 10.1)
Other debtors		 31 March 2025
GROUP
PARENT
£'000
£'000
281
281
31 March 2025
GROUP
PARENT
£'000
£'000
453
451
145
145
2,086
1,806
-
136
2,684
2,538
725
725
3,409
3,263		 31 March 2024
GROUP
PARENT
£'000
£'000
286
286
31 March 2024
GROUP
PARENT
£'000
£'000
510
497
316
316
1,365
1,365
-
77
2,191
2,255
773
773
2,964
3,028
YMCA England & Wales had outstanding loans to:
YMCA Thames Gateway
YMCA Swansea
European Alliance of YMCAs (for YMCA 175 event)
YMCA Port Talbot		 Amount
within 12
months
After 12 months
£'000
£'000
£'000
878
208
670
7
7
-
20
20
-
84
29
55
989
264
725
31 March 2025
Repayment		 Amount
within 12
months
After 12
months
Interest
£'000
£'000
£'000
964
211
753
2.5%
7
7
-
base +3%
41
21
20
base +3%
52
52
-
base +3%
1,064
291
773
31 March 2024
Repayment

10.1 YMCA England & Wales had outstanding loans to:

During the year ended March 2015, YMCA England & Wales sold the freehold of the housing scheme at Dartford to YMCA Thames Gateway at open market value for social housing, the consideration being received by a 20 year interest bearing loan at 2.5%.

The loans to YMCA Swansea and European Alliance of YMCAs were made during the year ended March 2020 and YMCA Port Talbot (£50k) during the year ended March 2023 with a further £30k advanced in December 2024. All are repayable by instalments.

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Pension scheme obligations due within one year (note 13.1)
Taxes & Social Security Costs
Other Creditors
Due to Group Undertakings
Provisions for liabilities payable within 12 months (note 12.1)
Accruals and deferred income		 31 March 2025
GROUP
PARENT
£'000
£'000
823
823
214
70
1,013
974
-
391
305
305
1,623
1,225
3,978
3,788		 31 March 2024
GROUP
PARENT
£'000
£'000
823
823
191
185
1,034
1,034
-
-
349
349
1,553
1,549
3,950
3,940

Deferred income consists of grants and contract income received in advance.

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

12.1 PROVISION FOR LIABILTIES

At the balance sheet date YMCA England & Wales had obligations to make future payments in respect of the following items where the amount or timing is uncertain:

Lease dilapidations - retail (see n
Lease dilapidations - non-retail
Allocate rent-free period over leas
As at 31 March 2025
As at 31 March 2024		 ote 3.3)
e term
Within
one year
£'000
305		 Balance at
Additional
Utilised in
Balance at
1 April 2024
Provisions
the year
31 March 2025
£'000
£'000
£'000
£'000
991
113
(250)
854
100
-
-
100
92
216
(253)
55
1,183
329
(503)
1,009
Payable
One to
Two to
After five
After more than
two years
five years
years
one year
£'000
£'000
£'000
£'000
217
366
121
704
188
375
271
834		 Balance at
Additional
Utilised in
Balance at
1 April 2023
Provisions
the year
31 March 2024
£'000
£'000
£'000
£'000
920
128
(57)
991
100
-
-
100
119
225
(252)
92		 Balance at
Additional
Utilised in
Balance at
1 April 2023
Provisions
the year
31 March 2024
£'000
£'000
£'000
£'000
920
128
(57)
991
100
-
-
100
119
225
(252)
92
1,139
353
(309)
1,183
TOTAL
2025
£'000
1,009		 TOTAL
2024
£'000
1,183
One to
Two to
After five
two years
five years
years
£'000
£'000
£'000
217
366
121
349 188
375
271

81

YMCA England & Wales | Annual Report and Accounts 2024–25

13.
13.1
Repayable
PENSION COMMITMENT
YMCA England & Wales participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCAs in England,
Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of YMCA England & Wales and at the yearend these were invested in the
Mercer Dynamic De-risking Solution, 65% matching portfolio and 35% in the growth portfolio and Schroder (property units only).
The most recent completed three year valuation was as at 1 May 2023. The assumptions used which have the most significant effect on the results of the valuation are
those relating to the assumed rates of return on assets of 4.56%, the increase in pensions in payment of 3.18% (for RPI capped at 5% p.a.), and the average life
expectancy from normal retirement age (of 65) for a current male pensioner of 21.5 years, female 24.0 years, and 23.1 years for a male pensioner, female 25.7 years,
retiring in 20 years’ time. The result of the valuation showed that the actuarial value of the assets was £103.1m, which represented 92% of the benefits that had
accrued to members.
.
The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits all
employed deferred members became deferred members as from 1 May 2011.
The valuation prepared as at 1 May 2023 for the YMCA Pension Plan as a whole showed that it had a deficit of £9.1 million. YMCA England and Wales has been
advised that it will need to make monthly contributions of £69k from 1 May 2024. This amount is based on the current actuarial assumptions (as outlined above) and
may vary in the future as a result of actual performance of the Pension Plan. Agreed future deficit contributions have been discounted using a rate of 4.5% (2024:
5.25%). The current recovery period is 3 years commencing 1st May 2024.
Within
One to
Two to
After five
After more than
TOTAL
TOTAL
one year
two years
five years
years
one year
2025
2024
£'000
£'000
£'000
£'000
£'000
£'000
£'000
As at 31 March 2025
823
788
63
-
851
1,674
As at 31 March 2024
823
783
802
-
1,585
2,408
13.2
YMCA England & Wales has opened a defined contribution group personal pension plan for employees. YMCA England & Wales is making employer contributions of
6% of pensionable earnings provided that employees make a contribution of at least 3%.
YMCA England & Wales has also opened an auto-enrolment pension scheme for those employees who do not want to join the main scheme which has employer
contributions of 3% of pensionable earnings provided that employees also make a contribution of 5%.
Total pension contributions for the years ended 31 March 2024 and 2025 are shown in note 3.5.

82

YMCA England & Wales | Annual Report and Accounts 2024–25

RESTRICTED FUNDS
The income and expenditure of the National Council include items relating to restricted funds comprising the following unexpended balances of donations and trusts held which can only be applied for specified
purposes.		 Balance at
Movement in funds:
Balance at
Movement in funds:
Balance at
1 April 2023
Income
Investment
Expenditure
Transfers
31 March 2024
Income
Investment
Expenditure
Transfers
31 March 2025
gains (losses)
gains (losses)
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
£'000
Restricted income funds:
Amounts raised for local YMCAs
127
49
-
(41)
-
135
23
-
(145)
-
13
Emergency Response Fund
92
-
-
-
(23)
69
-
-
-
69
Ukraine Emergency Appeal
19
-
-
-
-
19
-
-
(19)
-
-
Amounts raised for YMCA England & Wales activities:
- Changing Futures (including CAST)
390
232
-
(371)
-
251
189
-
(345)
-
95
- YMCA London CAN Youth Hub Project
2
94
-
(95)
-
1
104
-
(105)
-
-
- World Alliance of YMCAs
-
208
-
(208)
-
-
-
-
-
-
-
- APS Benevolent Fund
-
13
-
-
-
13
-
-
-
-
13
- Homelessness
20
-
-
-
-
20
5
-
(5)
-
20
- Chapliancy
-
-
-
-
-
-
17
-
(17)
-
-
- Risk training
4
-
-
(4)
-
-
-
-
-
-
- Mental Health
-
-
64
(64)
-
- Cadent Gas
-
-
-
-
384
-
(384)
-
-
Movement Trust Fund
1
1
-
(1)
-
1
1
-
-
-
2
Hartwoodside Award
46
2
-
-
-
48
3
-
-
-
51
Douglas Wood Charity
191
10
-
(53)
23
171
9
-
(36)
-
144
Other Trust & Association Funds
45
2
-
-
-
47
4
-
-
-
51
NW Region Trust Fund
94
2
-
-
-
96
2
-
-
-
98
Dunford House
586
28
4
(163)
-
455
11
(1)
(166)
-
299
Total Restricted Funds
1,617
641
4
(936)
-
1,326
816
(1)
(1,286)
-
855
Year ended March 2024
Year ended March 2025
YMCA England & Wales raises funds on behalf of member YMCAs and for YMCA England & Wales activities which can only be used for that specific purpose. The Emergency Response Fund was launched in response to the
Covid pandemic to make grants to local YMCAs in co-ordination with the Movement Trust Fund, the Douglas Wood Charity and the regional trust funds.
The Ukraine Emergency Appeal was launched in March 2022 with a £30k donation from YMCA England & Wales. Responses from the international YMCA network are being co-ordinated by the European Alliance of YMCAs.
Further income was received from local YMCAs and individual donors, a total of £261k has been sent to the European YMCA for relief work in Ukraine and surrounding areas.
The Sidley project was launched in 2023 in co-ordination with YMCA London Central and North to support their youth work project. The APS Benevolent Fund was passed to YMCA England & Wales to administer on their
behalf. Last year YMCA England & Wales received a grant from Macquarie Bank on behalf of the World Alliance of YMCAs.
The Movement Trust Fund is established under the trusteeship of the National Council of YMCAs, with the purpose of assisting member YMCAs with grants and loans. Grants are also made by the Hartwoodside Award (which
makes annual bursaries to young people in need, particularly disabled persons) and the Douglas Wood charity (which makes grants for the promotion of the education and training of young men in the science and practise on
farming, horticulture or any similar profession or trade). The Trust & Association Funds represent mainly funds from defunct Associations. Income is either remitted to a specific activity or accumulated. The North West Region
Trust Fund is administered on behalf of this regional trust fund.
The amount for Dunford House is the accumulated profits from the conference centre. In view of the disappointing performance, the Board decided to close this centre and activities ceased on 26 March 2018. The property was
sold in August 2020, with the proceeds (net of costs) added to the restricted fund. The fund can only be used for "educational purposes of the National Council".

83

YMCA England & Wales | Annual Report and Accounts 2024–25

NATIONAL COUNCIL OF

YOUNG MEN'S CHRISTIAN ASSOCIATIONS (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 March 2025

15. DESIGNATED FUND

A designated fund has been set-up for the anticipated costs of getting the YMCA Pension Plan to buy-out stage (expected by April 2029).

16. UNRESTRICTED FUNDS

The balance sheet shows how the unrestricted reserves are held. Some of these reserves are held in the form of long-term loans or tied up in fixed assets and therefore not directly available to support other activities, the remainder of the reserves are available to support the activities of YMCA England & Wales and are described as 'free reserves'.

General Fund
Less allocated to the following purposes:
Fixed assets
Long-term loan to associations
'FREE RESERVES'		 £'000
8,425
(679)
(725)
7,021
31 March 2025		 £'000
8,511
(713)
(773)
31 March 2024
7,025

17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Fund Balances are represented by:

Fund Balances are represented by:
TOTAL TOTAL
UNRESTRICTED RESTRICTED MARCH 2025 UNRESTRICTED RESTRICTED MARCH 2024
£'000 £'000 £'000 £'000 £'000 £'000
Tangible Fixed Assets:
Other fixed assets 679 - 679 713 - 713
Investments 10,857 41 10,898 12,677 42 12,719
Total fixed assets 11,577 13,432
Net Current Assets 444 814 1,258 (460) 1,284 824
Long Term Liabilities (1,555) - (1,555) (2,419) - (2,419)
10,425 855 11,280 10,511 1,326 11,837
18. CHANGES IN RESOURCES AVAILABLE FOR CHARITY USE
TOTAL TOTAL
UNRESTRICTED RESTRICTED MARCH 2025 UNRESTRICTED RESTRICTED MARCH 2024
£'000 £'000 £'000 £'000 £'000 £'000
Net movement in funds for the year (86) (471) (557) 3,683 (291) 3,392
Net decrease (increase) in fixed assets 34 - 34 (51) - (51)
Net movement in funds available
for future activities (52) (471) (523) 3,632 (291) 3,341

19. LEASING COMMITMENTS At the balance sheet date, YMCA England & Wales had the following total commitments under operating leases:

Expiring:
Within 12 months
1 to 2 years
2 to 5 years
After 5 years		 Property
Plant
leases
& machinery
£'000
£'000
1,200
297
822
145
747
-
27
-
2,796
442
31 March 2025		 Property
Plant
leases
& machinery
£'000
£'000
987
299
625
297
734
157
368
-
31 March 2024
2,714
753

84

YMCA England & Wales | Annual Report and Accounts 2024–25

85