Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for tommunltl•s H•r• for you YMCA LEICESTERSHIRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Company Registration No: 00159933 Charities Commission No. 213513 Regulator of Social Housing No. H2381 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Her? for tommunities Heye for yo FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONTENTS PAGE Membèrs of the Board and professional advisers Members of the Board's report (intluding Strateoic Report on pages 5 to 19) 2to23 Independent Auditor's report 24to26 Cor)solidated Income and ExpenditLJre Account and statement of Comprehensive Income 27 Consolidated and Association Balance Sheets 28 Consolidated Statement of Changes In Reserves 29 Assoclation Statement of Changes In Reserves 30 Consolidated Statement of Cash Flows Notes to the financial statements 32to52 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Hère for young peoplè Htre for tommunitles H•re for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS The members of the Board Ms H E Robertson MrT Moore Ms E Ling Ms C Clifton Mr D Glover Ms L Capell Ms F Wong Ms J L Mackay Mr R A Graves Mi55 L Flanaghan (Young Trustee) Company secretary Mr P Brown Registered office 7 East Street Leicester LEI 6EY Auditor Forrester Boyd Chartered Accountants 26 South Saint Mary's Gate Grimsby DN31 ILW Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young p00pI• Heye foi communities Htyè foy yts FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT {including STRATEGIC REPORT) INTRODUCTION The Board have pleasu￿ in presenting their annual report, together with the audited financial statements of the group for the yearended 31 March 2025. Thi5 report contains a Directors, Report as required by company law. REFERENCE AND ADMINISTRATIVE INFORMATION Registered name YMCA Lelcestershire (changed 07110122) Known as YMCA Leicestershi Charity reglstratlon number 213513 Company reglstration number 00159933 Regulator of Social Housing number H2381 Registered Office and main address 7 East street, Leicester, LEI 6EY Audltor Forrester Boyd Chartered Accountants, 26 South Saint Mary's Gate, Grimsby, DN31 ILW Prlnclpal bankers HSBC, 2-6 Gallowtree Gate, Lelcester, LEI IDA Investment advlsors Brewin Dolphln Llmlted, Waterfront House, 35 Statlon Street, Nottlngham, NG2 3DQ Board and Committee Members The following persons have served The Y during the year- Ms H E Robertson - Chair Mr P Hawkins Vice Chair (retired 11. 12.2024) Mr T Moore Treasurer Ms E Hollis (retired I1.12.2024) Ms E Ling Ms C Clifton Mr D Glover Ms L Capell Ms F Wong Ms J L Mackay Mr R A Graves Miss L Flanaghan (Young Trustee co-opted 11.12.2024) The following directors retire by rotation and being eligible offer themselves for re-election: Ms J L Mackay, Ms L Capell and Mr T Moore. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Hele for commun4tFe6 H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) Qualifying third party indemnity insurance The Association has made qualifying third-party indemnity provisions for the benefit of its board members durlng the year. These provisions remain in force at the reporting date. Secretary: Paul Brown Executive Team (as at 31.3.25): Paul Brown Chief Executive Deputy Chief Executive/Finance Dirertor Nicola Thompson-windley Director of People, Policy & Culture Juanita Rhodes Director of Housing Director of Residential Care Services (Rl) Tom Lin Jennle Skelding Management Team (as at 31.3.25): Gemma Wlnters Executive Assistant Hannah Williamson HR Manager Housing Support Manager Housing Support Manager Housing Support Manager Fundraising and Communications Manager Theatre & Events Manager Property & Maintenance Manager Y-support Manager Resident Engagement & Community Manager Registered Manager (Chlldren's Home) Advantaged Thinking Lead Nuala Facey Donna Pole Mayur Vaghela Emma Knight Hannah Torrance Sean Langley Kate Beaumont Juliet Martin Louise Jordan Hannah Deignan Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for comrnunitle# Her• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRUCTURE, GOVERNANCE AND MANAGEMENT Governin Document YMCA Leicestershire was founded in 1883. It Is a charitable company Ilmlted by guarantee, incorporated in 1919 and registered as a charity in 1966. The Association was established under a Memorandum of Association which established the objects and powers of Association and is governed under its Articles of Association. In the event of the Association being wound up members are required to contribute an amount not exceeding £0.01 (one penny). The Association is also a RegiSte￿d Provlder of Social Housing (RP). Therefore, the Association's Accounts must be prepared in accordance with Housing legislation and the Housing Statement of Recommended Practlce (SORP) which overrides the requirements of the Charities SORP. Recruitment and A intment of Board Members Board members are the directors of the Association and are also charity trustees for the purposes of charity law. Under the requirements ofthe Memorandum of Association and Articles of Association Board members are elected to serve on the Board. A proportion of Board members retire at every Annual General meeting (AGM) and are eligible for re-election. Due to the nature of the Association, elected Board members must sign a form of commitment to YMCA England & Wales, Ethos Statement and Membership Agreement. This effectively means that elerted Board members must be practising Christians. In addition, the Board may co-opt additional directors who are not practising Christians but support the Ethos Staternent of YMCA England & Wales. Recruitment of Board member5 is through advertising in appropriate media together with approaches to known interested individuals. Consideration is given to achieve a mlx of skills amongst its Board members that will complement the indivldual departments within the Association. Board Member Induction and Trainin Potential new Board members are given an induction pack which provides information on the Association's services, its constitution and financial position, together wlth thelr legal obligations. Potential Board members are then invited to meet exlsting Board members and subsequently the Management Team. The Induction process IS tailored to individual needs. anisational Structure The Board meet quarterly and is responsible for overseeing the strategic directlon and management of the Association. In addition, there is a Resources Commlttee (covering Finance, HR and Asset Management / Maintenance which meet qLJarterly), The Chief Executive together wlth hls Directorate and Management Team has day to day responsibility for the management and delivery of services, Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Hert for tommunitie$ H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (Including STRATEGIC REPORT) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Related Parties The Association wholly owns Y Leisure Limited which consists of the trading activities of the charity. The principal activities of Y Leisure are the provision of a bar. The profits of Y Leisure are distributed via gift aid to YMCA Leicestershire. STRATEGIC REPORT Risk Mana The members of the Board have considered the risks faced by the Association and Group through a risk analysis exercise. Policy and procedural implementatlon have taken place and a critical analysis of the organisation's management structLJre completed. Key risks and uncertainties The Assoclation have considered the key risks and uncertainties it faces over the coming year and has identified these as; l. The organlzation suffers from high void levels due to a mixture of internal and external factors therefore having a detrimental impact on cash flow and budgets 2. The launch of the second Child￿n.$ Home and the need to have appropriate staffing levels prior to recelvlng placements has a negative impact on the organization's finances,. 3. Failure to recruit a suitable registered manager for the Second Children's Home, given the current recrultment market, Imp5nges on servlce dellvery and subsequently flnances. 4. The inabillty to make substantial investments in the public areas within East Street, therefore impacting on theatre audience and communlty group experience; 5. Failure to mitigate risks as identified in the organlsatlon's Rlsk Reglster. 6. Wage inflation and our ability to award pay increments in line with inflation- 7. Ability for the organlsation to grow within the challenging economic environment; 8. Failure to maintain the new Ofsted regulations for the accommodation of 16117-year-olds, thus resulting in the wlthdrawal of CYPS Contracts. 9. Failure to recruit new Trustee's with the appropriate knowledge, skills and experience; 10. Uncertaintles in relation to the strutture of the Fundralslng and Marketing Team and a clear fundraising strategy, 11.The implementation of the the UK Supreme Court ruling that in the Equality Act 2010, the term "sex" refers to biological sex, meanlng a person's sex at birth. 12. Failure to articulate the culture of the organization; 13. The potential development of Egerton Hall, working alongslde Melton Borough Council and emen 14.The need to generate unrestricted Income; 15. Uncertainties regarding the implementation of the eneryy feasibility study and its potential impact on budgets and cashflow; 16. The need to invest in our people through none non-flnanclal beneflts; 17. Failure to implement our vision on the Roots to Resilience project. 18.The day centre funding being withdrawn by the City Council and re-invested into the new homeless hub; 19.city Council do not'call off the Commissioned beds and or renew the Block Contracts. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communltl¢$ Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) Housing Our housing operation continues to provide high-quality support and accommodation to young people. We continue to experience growing numbers of young people impacted by adverse mental health and this in turn creates additional pressu res on an already stretched staff team. During the year we were advised by the Local Authority that they intended to decommission ten beds to 62 from the original 72. This was very much based on local authority budget challenges, specifically that there was no statutory responsibility within the housing department to accommodate 16 to 18 year old's which falls under Children and Young People Services and also the new Ofsted accommodation standard5. The year also saw us develop partnerships with Project Flourish supporting young people into employment, CenterPoint through their 'More than just a Roof, grant scheme where 13 young people were able to access £200 each to buy soft furnishing for their potential move-on and Simba Mattress for the gifting of refurbished returned mattresses. This enables young people to have a practically new mattress at no cost. A new property in Mantle Road was taken on within the year and developed a new partnership wlth Lelcestershire County Council for the accommodation of Unaccompanied Asylum-seeking Children. This partnership supports our housing vision to develop more work within the County. Residential Children's Services Park House maintained its Ofsted rating of Good. Following the successful move-on of the solo placement in September, Park House has managed to support three young men living within the house. The three men are placed two by the County and one by the City and although the County placement is on a framework agreement, therefore limiting the price we can charge, the working relationship has been positive, especially as it is the same commissioner that we have worked with around the UASC young people. As part of the investment into Park House, we have also launched a new HR policy which supports those staff who do not have a driving license to access a grant that enables them to have lessons at no initial cost to themselves with a commitment to staying in the organisation for up to two years post passing their test. This decision was seen as a cost-effective investment given the need for staff to be able to drlve and the challenges In recruiting new staff. Theatre The Theatre's resident engagement and training programme is fully operational following the launch of the Hidden Gems project funded by Historic England. This saw the young people engaging with and collecting stories around the history of the theatre, Leicester and its community, and learning technical skills resulting in a closing event showcasing their research, and the creation of a podcast. ThroLtgh this engagement we were able to launch the resident employment scheme resulting in 330/0 of the front of house team now being current or ex-residents, with the goal to continue expanding this in 25-26. The team also provided one-on-one coaching to a resident to secure a place at university studying theatre and performance. Investment was made into the bar, updating the previous furniture that was donated in 2020, to new tables and chairs more fit for purpose. The bar and dressing rooms had a refresh of the paint and displays to brighten the space under the theatre's brand colours, with excellent feedback from artists, staff and the community alike. The theatre continues to deliver a diverse range of shows, developing connections with the local community as well as national artists and agents. We have seen over 27,000 people visit the theatre this year, and have grown our regular community groups to include local dance academy 118 Dance. Our strong reputation in the city was particularly reflected in our win of Best Large Venue at Lelcester Comedy Festlval for the fourth year runnlng as voted for by festlval audiences. The team was also voted Best Team at YMCA Leicestershire's first Star Awards. Your Heritage Your Future The Heritage project was unsuccessful in its bid to the National Lottery Heritage Fund for its contlnuation of the Your Heritage, Your Future project. Although it was felt that we had a good case for funding, the feedback for the National Lottery Heritage fund was that they felt the project was too ambltlous. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here foy young people Here for cornmunltles H•Yt for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) Day Centre During the year, the Day Centre continued to deliver critical services to street homeless and those in vulnerable housing. Although there was a plan that the new homeless centre would be relocated to the new 'Homeless Hub, thls has not materia1ised, although this is due to happen in August 2025. The services the hub will deliver will be very different to those of the Day Centre and YMCA'S role in the new Hub is still not clear. However, initial conversations have identified the Day Centre Manager as being a conduit between service users accessing the Hub and engagement with partner organisation'5, From a YMCA perspective, this is an area of risk we need to be aware of. We have also continued to work with Fare Share, which helps us to provlde food parcels to some of our most vulnerable service users. This partnership has also enabled us to set up our Staff Pantry as we are aware that with the current cost of living crisis, some staff were struggling financially. HR The main focus of HR this year has been on sourcing a new HR system, addressing the issues of the new minimum wage, the ongoing challenges with recruitment and working with an external provider, taking our managers through the Clifton Strengths process. The team have continued to ensure non-paid benefits are accessible to staff and also that we are compliant with all HR policies and procedures. This year the HR team also launched the STAR Awards, which are an awards ceremony that recognises the contribution that staff have made to the organisation over the year. These awards culminated in an event In our theatre In January. The HR team have also carried out staff questionnaires concerning the staff pantry, facilitated two all staff meetings and are planning to carry out a staff satisfaction survey later in the year, as well as reviewing our absence policy and developing a culture document. Operations The Operations department has continued to ensure our buildings are fit for purpose and that we comply with all health and safety regulations and codes of practice. This year we have had to carry out electrical testing of our main building in order to ensure we are compllant. We have also carried out a feasibllity study of our heating systems across all sites which has identified potential areas of investment. The team have also advised that we will need to make a substantial investment in the decking at the back of the building to meet ongoing health and safety requirements. Sports Health and Fitness The new fitness studio continues to be a real asset to both residents and staff with many regular users. The theatre has also managed to attract 118 Dance Group, a new dance company who use our sports hall three times a week. This not only generates a hlgh level of income but increases footfall through the bulldlng. Governance The year saw us elect our first young Trustee onto the Board following her engagement with the 'Get on Board, programme. The year also saw the resignation of Phil Hawkins, Vice Chair, after 12 years and Emma Hollis after 12 years, The Trustees commltment to adopt the Foyer Federation Asset Based Advantaged Thinking Module of Service Design dellvery was implemented through the Advantaged Thinking Lead taking the organisation through a change management process where she explored advantaged thinking across all departments with a view to this being organisational wide rather than just purely housing. At the end of the financial year, we we assessed by the Foyer Federation, the results of which will be with us In June. Marketing and Fundraising The organisation looked at a structural change this year and the Dlrector of People, Policy and Culture took on the responsibility of managing Marketing and Fundraising. The team also lost their community fundraiser after 10 years of servlce. Given this, the decision was made to have a period of pause, especially given the change in the fund raising landscape, in order to identify the most effective structure going forward. Again, this year the team ralsed a total of £24,000 as part of the Christmas Big Give campaign, which will be used towards our community garden project. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A H*re for young people Here for communitles Herè for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) Additionally, the team held their third Sleep Easy, which also generated £12,000 towards our work with homeless young people. The appointment of the Digital Marketing Officer has made substantlal Impact to the organisatlon's digltal marketing presence with positive comments from a range of internal and external partners. The investment in this post has also enabled us to expand our reach, locally, regionally. nationally and internationally. Multi-employer defined benefit penslon scheme YMCA Leicestershire recognises possible concern relatlng to its participation in a defined benefit pension scheme. Appropriate action has been taken: The scheme was closed to new members in 2007, and the link to final salary broken in 2011. Additional contributions continue to be made to reduce the deficit. As part of the YMCA federation, the multi-employer pension scheme is run by an independent Trustee board with employer representation through the Principal Employer, National Council of YMCAS. The pension scheme Trustee obtains an actuarial valuation every three years and we have considered the implications to the charity's finances from the latest available actuarial valuation, We have reviewed the charity's ability to continue to deliver its charitable objectives by ensuring budgets, forecasts and plans are available and include the impact of deficit repayments. The Trustees included the impart of the penslon scheme deficit repayments in considering going concern status, reserves, and the risks and uncertainties that the charity face noted elsewhere in this Report. YMCA Leicestershire benefits from the pension scheme Trustees and the Princlpal Employer seeking suitable specialist professional advice both to manage the scheme and in the continuing effort to explore ways of reducing the overall pension deficit. The notes to the Accounts include an accounting policy and further details in note 18. STRATEGIC REPORT - Looking Forward (25/26) Housing Nationallyi there is a real shortage of social housing which is reflected in both the government's commitment to Increase social housing and the YMCA England Wales, commitment to increase affordable housing by 10,000 units by the next Parliament. As a city, Leicester has a social housing challenge and the lack of social housing wlll often result In young people staying at the YMCA a lot longer than originally envisaged and therefore, to all intents and purposes, are bed blocking. There Is clearly a need for affordable social housing for young people, single5, couple5 and families. In our 202312024 strategic report, we highlighted a commitment to increase our property portfollo and to try and secure affordable studios and one-bedroom flats. Unfortunately, followlng the election and the decision by the current administration to substantially increase the minimum wage and employers Nl, the organisation was not in a position to invest in said strategy. However, we did secure an eight bedroom unit working with a private landlord, which is currently belng used to accommodate Unaccompanied Asylum-seeking Children. Moving forward, we are still committed to increasing our portfolio through the purchase or lease of one-bedroom flats or studios where we can act as the landlord and sublet to young people who are ready for independence and in full-time employment or training. Therefore, our strategic focus for 202512026 wlll be: Increaslng our service provlslon through identifying and securing additional properties. Achieving an Ofsted Standard of Good as a minimum for the accommodation of 16- 17-year-olds. Fully implementing our new Housing Management System 'In Form,. Cementlng our contract with the County Council to deliver supported accommodation to UASC. Implement a programme of resident engagement, training and employment opportunities through the Resident & Communlty Engagement Manager Ensuring that young people have access to our housing provlslon through dlrect access alongside SAR referrals Reviewing our cost base, ensuring we a￿ competitlvely placed withln the sertor. {Iv) {v} (vi) {vii) Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 Here for young people Here for Cornmunitles Here for you YMCA LEICESTERSHIRE Yn¢A FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT - Looking Forward (25126) (continued) In order to achieve the above we will need to work with key partners and stakeholders ensuring that they are supportive of our development plans and will work with us to achieve them. Residential Care We will prioritise maintaining our Ofsted grading of Good. We will also continue our strategic vision to open a second residential childcare facility, therefore expanding our service in line with our 'Staying Close, agenda. Based on the growing need, we will also consider the option of offering a therapeutic element to the service as we are awa￿ that commissioners see this as an increasing need. This would entail the appointment of a therapist, which would not only enhance our team but a150 the service and support we would be able to offer. Our strategic focus for 202512026 will be: Maintain our Ofsted grading of Good Open a second Children's Home Consider a therapeutic element for our new home Appoint an experienced Registered Manager, Deputy, and support team (iv) Governance & Young People We will continue to work with our young Trustee to encourage other young people to join the Board through the'Get on Board, programme. We will also look to recruit three new Trustees who have experience in legal, housing development and social care. We will look to recruit a Vice Chair and review the Trustees terms of office. We will aim to encourage Trustees to actively participate in fundraising events and hold their own fundraising event. We will also provlde real employment opportunities for residents / ex-residents through our customer service team to have 50 % of the team recruited from our resident base. Our strategic focus for 202512026 will be: Recruit 3 new tnjstees with experience in Law, Social Care and Property Development Adopt the new Memorandum and Articles of Assoclatlon produced by YMCAE&W and currently under review by the Charity Commission. Hold a Board Development Day (iv) Develop a board culture document in line with the organisational culture document. Human Resources The Human Resources team will continue to prioritise the ongoing implementation and refinement of our Human Resource Management System (HRMS), ensuring it 5UPPOrts efficient operations and Theets the evolving needs of the organisation. The team have remained committed to cultivating a positive workplace culture that values open, transparent communication and continuous staff engagement. Tools such as 'Vlew Polnt, wlll continue to provide staff with a direct channel for feedback, supporting a culture of inclusivity and responsiveness. Our recruitment and retention processes are under regular review to ensure YMCA Leicestershire remains an employer of choice recognised for valuing its people and offering fair, competitive remuneration. The team also maintain their commitment to leadership development by supporting all managers and senior staff In engaglng wlth the Clifton Strengths framework, embedding a strengths-based approach across our leadership and management practices. Our strategic focus for 2025/2026 will be: Implementation and refinement of our Human Resource Management System (HRMS) Deliver training on Equality, Diversity, and Unconscious Bias Carry out a staff satisfattion survey (iv) Develop an organisational Culture Document (v) Ensure staff have the opportunlty for dlrect feedback through View Point (vi) Review our Absence Policy (vii) Hold our Second Star Awards (viii) Create a new staff space where staff can have tlme away from their desks while on their breaks Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for cornmunities H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT - Looking Forward (25/26) (continued) Marketing and Communication Over the coming year we will undertake a review of our fundraising portfolio to prioritise initiatives that drive success across Income streams including the Room Sponsor regular giving scheme, the Big Give Christmas campaign, Gifts in Wills, and the annual Sleep Easy event. The stewardship of existing corporate relationships whilst seeking new opportunities with local buslnesses will be an area of focus to secure donation5 anrj sponsorshipi raising our profile, strengthening community ties, and accessing in-kind gifts and pro-bono expertlse. Our marketing strategy will develop the charity's use of dlgital tools and grow social media, to articulate our core messages, demonstrate the measurable Impact of our work, and deepen engagement with donors, supporters, and stakeholders. Our strategic focus for 202512026 wlll be: (i) Developing a new fundraising and income generation strategy (li) Reviewing the team structure (iii) Holding our 4th Sleep Easy (Iv) Partlcipating In the 2025126 Big Give campaign (v) Increasing our social media presence (vi) Cultivating Board fundraising (vii) Demonstrate the measurable impact of our work and deepen engagement wlth donors, 5upporter5, and stakeholders Resident & Community Engagement In 2025/2026, the Community Partnerships & Engagement Service at YMCA Leicestershire will continue to strengthen its cornmitment to Advantaged Thinking through ambitious, youth-centred targets that enhance Servi￿ delivery and empower young people. A major project highlight is the Roots to Resilience Garden Project, developed in collaboration wlth BBC Gardener Nick Bailey. This youth-led initiative will transform an unused outdoor space into a thrivlng area focused on wellbeing, sustainable food growing, and environmental awareness. It also promotes skill development, confidence, and community connection, offering a restorative environment for reflection and personal growth. In Autumn 2025, the Youth Hostel Association (YHA) Breaks scheme will offer young people a rural retreat at Edale in the Peak District, where they will have the opportunity to try new outdoor activities, connect with natu￿ and build supportive relationships through shared adventure and outdoor learning. Strategically, YMCA Leicestershire continues to deliver Project Flourish-an innovative partnership wlth Every Youth and Hays that provides access to employment, personal development, and a generous bursary s to help young people move into work. Simba Sleep Ltd, a key project partner, is donating high-quality rnattresses through the Project Flourish partnership to ensure that young people leaving supported accommodation have the comfort and rest they need to thrive. Our collaboration with Centre Point also continues through the More Than A Roof grant. Having secured £4,200 in Round I funding, we have doubled our request in Round 2 to enable more young people to purchase soft furnishings for their homes. Additionally. we will launch Cook It Eat It, a new volunteering programme starting in July 2025 at Glenfield Road, Portland Road, the Aylestone Centre and Cluster 5 at East Street. This initiative will provide young people with the opportunity to learn cookery skills, explore healthy eating and build community through shared meals in a supportive and inclusive environment. Our Strategic focus for 2025/2026 will be- (i) To deliver on our Roots to Resilience project, working in partnership with Nick Bailey, BBC Gardeners World (li) To create new opportunity for our young people through Youth Hostel Association {iii) To continue our partnership with Project Flourish creating real job opportunitie5 for young people (iv) To be part of the Centre Point More Than a Roof project acce55ing grants for young people 10 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for youn9 p•opItt Her* for tommunltles H•r• for yo FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT - Looking Forward (25126) {continued) (v) To continue our relationship with Simba Sleep providing mattresse5 for young people moving onto independence (vi) To develop our volunteer programrne through the growth of our Cook It Eat It programme and for volunteers to work on our Roots to Resilience project. Theatre and Arts The theatre will contlnue to grow Its artlstlc programme, seeking to attract big names while also working with, by and for our local community. The team will be growing their partnership with the foremost Midlands development network In Good Company to grow our support for new and emer9ing artists in the Midlands, working with other venues to offer bigger opportunities than we could offer alone. We will also open up our space to local community groups, looking for opportunities to work with them to develop our communlty offer, Including sports for marginalised groups and rehearsal space. The team will introduce a venue restoration levy to tlckets to provlde a means of supporting the continued upkeep of the Grade Il listed building and technical infrastructure. This will be brought in for new shows going on sale with a vlew to It belng In place on all shows for 26-27. The team's commitment to engagement opportunities for our young people will grow following the excellent Hidden Gems project. A grant from In Good Company will see our activity expand to include the Aylestone site, with further funding streams belng explored. The team will also continue to develop the programme to enable our young people to be submltted for Arts Awards, allowing us to evidence to them the value of their work, engagement wlth us, and the skills they have developed through this, The team will build on the success of our ernployment scheme for our youn9 people, offerlng front of house roles to current and ex-residents to support them In gaining skills and experience in an industry setting while offering flexible and trauma-informed support. We also hope to extend this to technical roles In line wlth current fundlng applications. Our strategic focus for 202512026 will be- (i) Grow our partnershlp wlth the foremost Midlands development network In Good Company growing our partnership with the foremost Midlands development network (li) Continue to open up our space to local community groups (iii) Introduce a venue restoration levy on tickets to provide a means of supporting the continued upkeep of the Grade Il listed building and technical infrastructure. (iv) Expand our commitment to the employment of residents to our Aylestone site (v) Cor)tinue to develop our partnership with 118 Dance Group (vl) Programme a minimum of 100 Events in the theatre (vii) Continue to be a major venue in the city's Arts offer especially the comedy festival Advantaged Thinking The organisation has made both a strategic and operational decision to adopt Advantaged Thinking which is an asset-based m¢)del of service design and delivery developed by the Foyer Federation. A5 such, in March 2025 a senior member of staff was tasked to begin the implernentation of Advantaged Thinking across the whole organisatlon. We will be accredited as either an Explorer, Adventurer or Leader Advantaged Thlnking Organlsation in June 2025 and are enacting a service quality development plan in 2025/2026. As an organisation, we truly believe that Advantaged Thinking will improve us as a service and support our commitment to empowering young people. Our strateglc focus for 202512026 wlll be: li) Achieve a minimum of Stage l Explorer in our Advantage Thinking Assessment. (it) Continue to develop an Advantage Thinking Culture throughout the organlsatlon. (iii) Support young people in the design and refu rbishment of the Aylestone Reception. (iv) Review the Foyer Federation assessment feedback and develop an actlon plan. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 Here for young peopl• He¥e f¢r communltles H•¥• for you YMCA LEICESTERSHIRE Yn¢A FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT - Looking Forward (25/26) (continued) Houslng & Unaccompanled Asylum-seeking Children As part of our commitment to continue working with this marginalised group, we will look to secure further contracts with the CoLJnty Councll and maintain OLJr block contracts with the City Council. We will also look to develop a partnership with UKBC, a local college who have offered a tailor-made curriculum specifically focused on our Unaccompanied Asylum-seeking Children. We have also invested in recruiting volunteers through our Community and Resident Engagement Manager who will deliver life skills education through cultural cuisine regularly. Our strateglc focus for 202512026 will be: (i) Develop new contracts with the county council for the accommodation of 16117 year olds, both LAC and UASC (li) Develop a partnershlp wlth UKBC to support Llfe Skills education for our young people (iii) Engage UASC in a program of extra-curricular activities (iv) Support UASC to feel safe, secure, supported and welcome. STRATEGIC REPORT (continued) Vision Our vision is for every young person to have a safe place to call home and the support they need to create lasting change in their lives. Our mlsslon Is to create supportive and inspiring places where young people and communities can belong, contribute and thrive. We do this through accommodation, care, support, advice, skills for life, theatre and cultural activities. Mission Everyone should have a fair chance to discover who they are and what they can become. Purpose statement Values We work wlth kindness and integrity so that everyone can feel secure, respected and heard We build trusting relationships and nurture personal strengths to help people find thelr path to independence We work alongside people to grow their skills and self-belief to enable them to thrive We welcom• We support We empower We enrich We create inspiring activities that give people a sense of connectlon and wellbeing We look for opportunlties to collaborate and make an Impact In the communities we serve We seek out Strategic Measures We will achieve this by: Investing in our buildings, ensuring they are Safe, accessible and fit for purpose whilst challenging the general perception of 'supported accommodatior7'. Being an organisation that has the needs and aspirations of young people at its core. Belng a Learnlng Organlsation that Is committed to encouraging sharing of information and knowledge, whllst asklng challenglng questlons that wlll ensure continual reflection and regeneration. Adopting and fully implementing Advantaged Thinking across the organisation Consistently evaluating what we do, how we do it and the impact on the lives and aspirations of our communities. 12 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here foryoung people Heye for¢ommunitles H4Y• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 202S MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (contlnued) Keeping abreast of the political, economic, social, technological and environmental agenda, ensuring a flexible approach to services in a complex and dynamic environment. Being an organi5ation that SUPPOrt5 the added value and benefits of cultural activities and engagement. Ensuring sustainability through income generation of unrestricted funds. Investing In our people, ensuring they have the necessary skills, knowledge and attitudes, to deliver high quality services. 10. Creating an environment that enables children to grow and thrlve, I l. Maintaining and working within clear and prudent financial guidelines. 12. Being environmentally aware and respon51ble. 13. By having a clear strategic plan ACTIVITIES The Y is a multi-faceted Association and Group and operates in the following fields: Housing YMCA Leicestershlre provldes supported houslng for 117 young single homeless people 62 of which are part of Leicester City Councils, commissioned service. The accommodatlon Is spllt over six sites; East street (49 bed spaces) and Aylestone (35 bed spaces) providing accommodation to young people aged 16 25, Mantle Road, Portland Road and St. Leonards (18 bed spaces) providing accommodation for Unaccompanied Asylum-seeking Chlldren and In addition we have three 5 bed houses currently providing move-on accommodatlon for young people. The Housing Department stands at the forefront of our commitment to being an advantaged thinklng organisation where we adopt an asset-based module instead of a deficit-based module. Advantaged thinking changes the way we work and the way we think about young people, recognising their values, aspirations and opportunities rather than their challenge5, traumatic experiences and disadvantages. Within this module our Houslng Team continue to support young people with claiming benefit, accessing community grants, health and well-being, education, ccess to support seNices and the skills to move into independent / semi-independent living. Although many of the young people who live within the YMCA have come from challenging backgrounds and have a deep mistrust of society, our role within housing Is to empower these young people to become positive citizens and invest in their future. The Y Support Project The Y Advice and Support Centre (YASC) is a direct acces5 day centre for homeless and vulnerably housed people based in Leicester. The centre provides access to information and advice on housing, benefits advi￿ and access to primary healthcare. In additlon, the centre provides practical support with free food and drink. During 202512026 It is envlsaged that the project will be relocated into the new multipurp05e hub working alongside key partner5 both statutory and voluntary. As p[art6 of thls process, the YMCA Leicestershire will play a strategSc part in ensuring that service users have the necessary support to access a range of statutory services. Community Arts The Y Theatre is the oldest theatre within Leicester. Opened in 1900 the theatre is the one aspect of our core business that makes The Y truly different from most other YMCAS. The Y Theatre offers a varied programme of live music, comedy, performance and community events. Also, on offer are active art and educational workshops aimed at supporting and encouraging the local community, particulady young people to enjoy their creativlty and build confidence and develop communication, training and communication skills. 13 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people H•Ye foy communities Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (includlng STRATEGIC REPORT) STRATEGIC REPORT (continued) Fundraising The fundraising team have contlnued to have an impact on organisational income through fundraising activities. The Big Give Christmas Challenge platform in December made a substantial impact on our fundraising targets and the Sleep Easy event in March generated £15k to support our fundraising initiative. This year the teams focus will be on replacing the vacant community fundraiser post through a team restructure, focusing on unrestricted income generation, supporting the Board to develop a Board fundraising event and continulng to work with businesses across Leicester in order to develop corporate partnerships. YMCA Leicestershire is committed to adhering to the Code of Fundralslng Practice and new GDPR regulations throLJghout the whole fundraising process. The organlsatlon takes any complaints seriously and does not advocate intrusive, persistent or the application of any undue pressure to donate. This is made clear to all commercial partners, volunteers and new members of the fundraising team. There were no fundraising complaints in the year. Environmental Footprint YMCA Leicestershire is aware of the environmental footprint and is cornmitted to reducing this where possible. Following the commission of a heating feasibility study, we are now actively exploring how we can invest in modernising our heating systems and therefore reduce our environmental footprint. As an organisation we are committed to recycling where possible ensuring that any materials we use are sustainably sourced. We will also invest in the creatlon of a community garden which wfill include the adoption of a bee corner, a space for young people to grow vegetables, a wild garden for pollinating and an environmental learning area for young people. Shop Rental YMCA Leicestershire has seven shop units In the East Street Property all of which are let on leases. In addition, YMCA Leicestershire leases land on Belvoir Drive to three telecommunication companies for the siting of communication towers. General YMCA Leicestershlre has core departments of Human Resources. Operations, Finance and Fundraising, Marketing and Communications. The Human Resources department oversees all a5perts of staff training and professional development across the oryanisation. This year, we ensured that all ￿levant staff members and Trustees completed the required safeguarding and safer recruitment tralnlng, reinforcing our commitment to maintaining a safe and cornpliant working environment. The organisation continues to invest in Gol, providing all staff with access to a broad range of learning and development opportunities. In additlon, housing staff utilise The Training Hub Portal, a platform offering specialised training aligned with Ofsted requlrements. This includes tailored courses relevant to both children's residential homes and supported accommodation for young people aged 16 and 17. Many of these courses are mandatory and form a core part of our compliance and quality assurance framework. These ongoing training provisions reflect our commitment to upholding high Standards of care, compliance, and staff ca pability throughout YMCA Leicestershire. The Operations Department is responsible for all aspects of asset management, maintenance and health and safety. As part of the Operation department's targets, reduced energy consumption, increased recycling and maintenance planning are an essential part of their overall contribution to business efficiency. The Flnance department is responsible for the overall financial management of income and expenditure as well as the management and implementation of the company's financial procedures. Its approach ensures that the needs of all departments, the organisation as a whole and our funders are met. A comprehensive fraud policy is managed by the Deputy Chief Executive/ Finance Director. 14 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Hèrt foi tommunltles H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) Cyber Security As part of our risk analysis we recognise that at any point we could be at risk of a cyber-attack, therefore, this year we have taken out additional cyber security insurance and plan to provide all staff with cyber security training. Financial Review YMCA Leicestershire has incurred a consolidated deficit of £109,424 (2024: surplus £309,026), which includes a surplus from Y Leisure of £32,305 (2024: surplus £30,371). During 2024125 The Charity received the following large contracts and grants,, Leicester City Council Supporting People Leicester City Council Homelessness Leicester, Leicestershire & Rutland ICB - Mental Health Heritage Lottery Fund Lelcester, Lelcestershire & Rutland ICB - GHIN £477,567 £60,487 £36,746 £62,707 £50,000 In line with the Reserves policy statement, the organisation still needs to maintain its reserves by achieving a surplus of income over expenditure to ensure that it would meet its liabilities if all contracts ceased. The Board considers that YMCA Leicestershire 15 in a healthy financial situation, with two maturing housing Inltlatlves (Chlldren's Home and Unaccompanied Asylum-seeklng Children) that will increase our self-generating income stream. Coupled with the continuation of our robust approach to procurement and gains in efficiency via our ￿ investment, YMCA Leicestershire will aim to generate a surplus to fulfil its commitments. Reserves Policy YMCA Leicestershire requires an appropriate level of reserves in order to operate effectlvely. The level is set with regard to our aims, needs and objectives and the risks we face. These are sudden cessation or non-renewal of contracts and grants, delay in receipt of funding, and future essential maintenance of properties. The Board of Trustees Is of the opinion that reserves in the order of £841,000 are necessary. Free reserves representing unrestrirted funds that a￿ not represented by fixed assets Used in the Charity's operations were £1,055,803 at 31 March 2025 this is calculated before accounting for the pension deficit funding liability of £91,807 now included in the financial statements under FRS102, which is actually payable over a further 2.1 years at a monthly rate of £4,022. Thls pollcy wéll be revlewed annually. Investment Policy The Board has delegated to independent investment advlsors (page 2) the power to invest funds surplus to requirements in stocks and shares quoted on the London Stock Exchange. Such investments are to provide a combination of income and capital growth. The Resource Committee receive half-yearly reports and revlew the performance with the advisors. Investment performance for the year is in line with the target set in the investment policy. 15 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young peoplè Here for communltlès H•rè for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) YMCA Leicestershire Value for Money (VFM) Policy l. Policy Statement YMCA Leicestershire's Mission Statement, Strategic Objectives, Values and Servlce Dellvery are underpinned by a commitment to value for money. This policy presents our intentions on what we spend and how we deploy our staff and resources directly with the core values and the service standards we deliver. The Y's performance achievements and customer satisfaction are key elements of this policy. Our strategic objectives To provide high quality support and accommodation that empowers young people to achieve sustainable independence. To support young people to develop skills through access to arts educatlon, employment, training and sports. To be a community resource that fully reflects the needs of local people, through the provision of community activities, advice information and advocacy. To be fully accessible, promote diversity and challenge discrimination in all its forms. To develop good quality partnerships that support service design and delivery and are cost effective. To be a proactive organisation that take5 measured risks in order to keep abreast of changing needs. 2. Value for Money demonstrable expertations The Regulator of Soclal Housing (RSH)'s framework for soclal houslng has a speclflc Value for Money standard. The standard requires that,. Reg istered providers articulate and deliver a comprehensive and strategic approach to achieving VFM in meeting organisational objectives. Trustees rnaintain a robust assessment of the performance of all their assets and resources. This will consider the interest of and commitment to stakeholders. This information should be available to stakeholders in a transparent and accesslble format. This means manag ￿ng resources economically, efficiently and effectively to provide quality service and homes and planning for and delivering ongoing improvements for value for money. The Board of Trustees meet on a quarterly basis in conjunction with the Resource Committee. The agenda items that will incorporate VFM considerations will be appropriately deliberated and their costs and benefits considered. This includes the generation of any potential returns commensurate to the risk involved. YMCA Leicestershire regularly reviews our contracts for services throughout the organisation and maintains a robust approach to the procurement of goods and services. During 2024125 The Y's administration team continued to support the organisations, various department5 in providing a number of quotes and identifying the most suitable supplier for various single project work throughout the financial year. It is difficult to assess YMCA Leicestershire's performance against its peers within the region as each YMCA is very different. However, the lottery funded Regional Complex Needs project has enabled The Y to measure its understanding and approach to working with complex young people against 6 other YMCAS within the region. This has achieved a degree of benchmarking as described below. 16 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young pèoplé Here for communities Hèr• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) 2. Value for Money demonstrable expectations (continued) Benchmarking It is now a requirement to carry out a competitive benchmarking exercise as part of the trustee's annual report. As part of this process trustees have identified 6 regional YMCAS (Heart of England, Burton on Trent. Sutton Coldfield. North Staffordshire, Welllngton and District and Lincolnshire). who could be seen as competitors within the Central Region. Each of these YMCAS are delivering a range of sirnilar services to YMCA Leicestershire, all have some form of social housing, community development, sport and support services, In carrying out the benchmarking exercise the area to be measured is, Supported Housing. Having carried out a desktop exercise it is clear that if one used the following measures.. Knowledge and Understanding Experience Training Governance Staff skllls & awa￿ne$S Leicester would be in a position to demonstrate that as part of a benchmarking exercise it would be more than able to show that Its supported housin9 both accommodation and support is competitlve In relatlon to our work with homeless young people. Within the organisation, the employee appraisal system includes regular performance reviews that include KPIS at an individual and departmental level. This enables the managers of the charity to assess and measure the delivery of the strategic objectives of the organisation. 17 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communlties Hèr• foy you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STRATEGIC REPORT (continued) 2. Value for Money demonstrable expectations (continued) Regulatory reporting on VFM is required by the Regulator of Social Housing from April 2018 and Reg istered Providers must publish the required evidence in the statutory accounts annually. The required VFM metrics are presented below. Regulator of Social Housing Metrlcs 2025 202￿25 2023.24 Metrlc I (Efflclencyl Reinvestment % Ilnvestment in properties, existing & new, as a % of the value of total propertie5 held) Metric 2 IEffectivenes51 New supply delivered % INO. of new social and non-social housing units, acquired or developed in the year as a proportion of totsl social and non- s¢xial housing units owned at period end. I Calc A For soclal houslng units Calc B For non-soclal hou51ng unSts 0% Metrlc 3 IEffl¢lencvl Gearln8 % Metric 4 (Efficiency) EBITDA MRI interesl Cover % 211% 1227% Metrlc 5 (Economy) Headllne soclal houslng cost per unlt £15,886 £14,453 Metrlc 6 (Efficiency) Operating Margin % Cal¢ A Operating Mar8in150cial hous1￿ only) % Calc B Operating Margin lovelalll % Metric 7 IEffi¢len¢yl Return on Capltal Employed (RO￿) % Commentary There was no major reinvestment in social housing properties for the year. An increase of 7% of new social housing units have been developed via a further leased property. Gearing levels have increased to 80/0 due to re-financing the bank loan arrangement. Interest cover has reduced due higher interest rate payments but continued to remain significantly sufficient. The social housing cost per unit has increased by IOO/o on the p￿ViouS year due to economic inflationary pressures. The social housing operating margin has fallen by 5010, With the overall operating margin becoming negative due to the generation of the operating deficit. The group's return on capital employed has decreased by 40/0 from the previous year, resulting in a negatlve return. Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for yo￿n9 people Here fo¥ ¢ommunltle$ Hele for YD FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (includlng STRATEGIC REPORT) STRATEGIC REPORT (continued) 3. Key Strategic Objectives YMCA Leicestershire will implement a programme to review expenditure and enable scrutiny of initiatlves with a view to achleving a minimum of 50/0 saving year on year for the next four years. These objectives i nclude.. Promotion - embedding of VFM principles within the culture of the organisation. People - encouraging economic awareness amongst staff and VFM principles within all business operations. Procurement creatlon, maintenance and promotion of economic, efficient and effective purchasing principles and continuous review of contracts and services. Recycling - to minimise waste and recycle as much as possible Partnerships - communicate our commitment to VFM and encourage these principles amongst our partners. Improvement - improving the efficiency of how we support and deliver our services. Green implement a programme of energy efficiency, water conservation and waste minimisation across the organisation. PLANS FOR FUTURE PERIODS The Association plans to continue its activities as outlined above. In addltlon, slgnlficant activitles to be undertaken during the year are as follows: To maintain Ofsted inspection rate of Good and progress to Outstanding To expand our residential childcare provision through the purchase of a second property In line with the Business Plan and reports taken to the Board. Further implement Advantaged Thinking, across the whole organlsatlon To dellver training on Safeguarding Safer Recruitment and Cyber Security as well as Equality, Dlversity Incluslon, and Unconscious Bias. To maintain our Ofsted registration standards for regulated provlslon for 16-17-year olds. Increase communlcation through the continuation of our twice yearly all staff meetings and quarterly briefing notes. To carry out a staff satisfaction survey. To implement our new HR management system. 9. To carry out a review of our absence policy. 10. To implement a development plan to refurbish our wash room facilities at East Street. 11. To carry out a refurbishment of the Aylestone reception, working Wlth the Experts by Experience group. 12. To draft an income and fundraising and develop an implementation plan. 13. To explore an annual Trustee fundraising event. 14, To continue to work with the NHS CCG to support our work with complex needs young people. 15. To increase the diversity of the Board through a recruitment and selection process identify specific skills In Legal Housing development and Social Work 16. To fully implement our Housing Management system In-Form and provide appropriate training to all staff. 17. To implement the flndings of the strengths audit of all managers and senlor staff. 18. To carry out a restructure the Fundraising and Marketing team in line with the team's strategic plan. 19. To carry out a number of fundraising and income generatlon activities including our annual sleepout, the Big Give, participate in Room Sponsor and further explore Gifts in Wllls. 20. To generate additional theatre income via a restoration levy on ticket sales. 21. To continue to offer residents the opportunity for real employment within the front of house team and to gain qualifications through the Arts Award programme 22. To hold our second Staff STAR Awards event. 23. To hold an annual Board Development Day, looking at future plans and growth. 24. To commission a feasibillty study on the potential development of partnership with Melton Borough Council for supported housing in Melton. 25. To conslder the future use of the land at Aylestone based on the presentation by Wellars and YMCA England and Wales, commitment to create 10,000 new affordable homes by the end of this Parliament 19 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for youn9 people Here for communities Hei• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) STATEMENT OF THE MEMBERS OF THE BOARD'S RESPONSIBILITIES The Board is responsible for preparing the Members of the Board's Report, including Directors, Report and Strategic Report, and financial statements in accordance with appllcable law and regulations. Company and Reglstered Social Houslng legislation require the Board to prepare financial statements for each financial year. Under that law the Board have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. Under that law the Board rnust not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs and surplus and deficit of the group for that perlod. In preparing these financial statements the Board is required to: select suitable accounting policies and then apply them consistently,. make judgements and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards and the Statement of Recommended Practice (SORP) Accounting by Registered Housing Providers 2019, have been followed, subject to any material departure5 disclosed and explained In the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company and group will continue in operation. The Board Is responsi ble for keeping adequate accounting records, that are suffscient to show and explain the company's and group's transactions and disclose with reasonable accuracy at any time the financial position of the company and group and enable them to ensure that the financial statements comply with Companies Act 2006, the Houslng and Regeneration Act 2008 and the accounting requirements of the Accounting Direction for private registered providers of social housing 2019. The Board is also responslble for safeguarding the assets of the company and grou p and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. RSH GOVERNANCE & FINANCIAL VIABIUTY STANDARD The Board reco9nises and conflrms the compliance with the Regulator of Social Housing's Governance & Financial Viability Standard. The Y has also retained its continued qualification as a Homes England Investment partner for future houslng programmes. PUBLIC BENEFIT The Board of Trustees has referred to the guidance contained in the Charlty Commission's general guidance on public benefit when revlewlng Association aims and objectives and in planning future activities. The focus of our work 15.. the provislon of supported housing to vulnerable young homeless people facilitating our resources to offer a varied programme of community and educational events working in partnership with other agencies to secure the widest range of services available to match the needs of clients provision of sport, health and fitness facilities to members of the community provide residents with education, training and skills to secure employment or their own tenancies. The Board of Trustees has complied with section 17 of the Charities Act 2011, and in setting a programme each year has had regard to both the Charity Commisslon's general guidance on public benefit and provision of services for the client population. The Board of Trustees always ensures that the services provided are in line with the charitable objects and aims of the Association. The Boa rd feels the aforementioned Strategic Report and principal actlvlty support this conclusion. AUDITOR In accordance with the Companles Act 2006 a resolution proposing the appointment of Forrester Boyd Robson Limited as Auditor will be put to the members. 20 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 Here foy young people Hkre for communitÈès for yo YMCA LEICESTERSHIRE Yn¢A FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) DIRECTORS. REPORT STATEMENT OF INTERNAL FINANCIAL CONTROL The Board is ￿sponsible for maintaining a sound system of internal control which.. focuses on the significant risks that threaten the Association's ability to meet its objectives; and provides reasonable assurance of the safeguarding of assets. The Board is also responsible for reviewing the effectlveness of the system of internal control. The internal control system is designed to manage, rather than eliminate, the risk of failure to achieve business objectives and can only provlde reasonable, and not absolute, assurance against material misstatement or loss. The process for identifying, evaluating and managing the significant risks faced by the Association is ongoing. This process has been in place for the year ended 31 March 2025 and up to the date of approval of the annual report and financial statements and is regularly reviewed by the Board. The process which the Board has adopted in reviewing the effectiveness of the Association's system of internal control is reviewed through the Resource Committee. The key elements in exercising financial control include.. Formal policles and procedures are in pla￿, includlng the documentation of key systems and rules relating to the delegation of authorities, which allow monitoring of controls and restrict the unauthorlsed use of the Association's a55ets. The employment of suitably quallfied staff to take responsibility for key areas of the business. This is supported by an annual appraisal system to maintaln standards of performance. The preparation of forecasts and budgets which allow the Board and management to monitor the key business risks and financial objectives, and progress towards financial plans set for the year and the medium term; regular management accounts are prepared promptly, providing relevant, reliable and up-to-date financial and other information and significant variances from budgets are investigated as appropriate. All significant new initiatives, major commitments and Investment projects are subject to formal authorisation procedures, through relevant sub-committees comprising Board members and others. The Resource Committee reviews reports from management and external auditors to provide rea50nable assurance that control procedures are in place and are being followed. Thls includes a general review of the major risks facing the Association. The Resource Committee make regular reports to the Board Formal procedures have been established for instituting appropriate action to correct weaknesses identified from the above reports. 21 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people ere for tommunltles H•Y• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (including STRATEGIC REPORT) DIRECTORS. REPORT (continued) STATEMENT OF INTERNAL FINANCIAL CONTROL (continued) FRAUD It is the policy of YMCA Leicestershire to identify and promptly inve5tlgate any possibility of fraudulent or related dishonest activities against the organlsatlon. The charlty aims to promote an organisational cultu re which encourages the prevention of fraud by raising awareness of the need for hig h standards of personal conduct. Any act of fraud ascertained upon investigation, or pursuant to a criminal conviction, or through written acknowledgment by the employee concerned, shall result in the appropriate disciplinary and legal actions against the employee. Prevention of Fraud Executives, managers and employees at all levels are responsible for exercising due diligence and control to prevent, detect and report acts of fraud. Those who fail to carry out these responsibilities will be subject to disclplinary actlon up to and Including termination of employment. Res onsibilit of Mana ement It is the responsibility of Executives and managers to be fami l iar with the types of improprieties that rnight occur in their area and be alert for any indication that irnproper activity, misappropriation or dishonest activity is or was in existence in his or her area and put in place controls to avoid such occurrences. Res onsibillt of Em It is the responsibility of all employees to conduct thelr work schedule in such a way as to prevent fraud occurrl ng in the workplace. Employees must also be alert to the possibilities for fraud and be on guard for any indications that improper or dishonest activity is taking place. Re It Is the responslbility of all executives, managers and employees to report any suspicions of fraud without delay according to the procedure laid out below. A person who suspects that fraudulent practice may be operating should, in the first instance, report the matter to his/her manager or immediate superior. Should it be inappropriate to make such a report to an immediate superior, the report should be made to that person's manager or directly to the Chief Executlve, Once a report of suspected fraud is made to supervisor/manager that person should report the suspicion to either the Chief Executive or Finance Director. A Fraud Incident Report should be completed by the person reporting suspected fraud. The Finance Director will report any incidents to the Resource Committee. This policy is read in conjunction with the whistle blowlng policy. The fraud policy is reviewed annually by the Finance Director. ortin Fraud 22 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here fot ytsung people Her? for ¢ommunlties H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 MEMBERS OF THE BOARD'S REPORT (Including STRATEGIC REPORT) DIREcfoRS' REPORT (contlnued) STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS We, the Board members of the Group, who held office at the date of approval of these Financlal Statements set out above each confirm, so far as we are aware, that: there is no relevant audlt Information of which the group's auditors are unaware; and we have taken all the steps that we ought to have taken as Board members in order to make ourselves aware of any ￿levant audit information and to establish that the auditors are aware of that infomiation. The Members of the Board's Report which is prepared under the Charltles Act 2011, which also contains all information required In a dlrertors, report by the Companies Act 2006, and the incorporated Strategic Report prepared under the Companies Act 2006, were approved by the Board of Trustees on rnseptember 2025 and signed: by order of the Members of the Board MR T Moore Treasurer Date: September 2025 23 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here fo¥ ¢OMmunltles Her• foryou FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YMCA LEICESTERSHIRE Opinion We have audited the financial Statements of YMCA Leicestershlre (the 'parent company,) and Its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income and Expenditure Account and Statement of Comprehensive Income, Consolidated and Association Balance Sheets, Consolldated and As50Clation Statements of Changes in Reserves, Consolidated ststement of Cash Flows and notes to the flnanclal statements, Including a Summary of significant accounting policies. The financial ￿porting framework that has been applied in their preparation is appllcable law and Unlted Kingdom Accounting Standards including FRS 102 "The Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland" (Unlted Klngdom Generally Accepted Accounting Prartice). In our opinion the financial statements: glve a true and falr vlew of the state of the group's and the pa￿nt company's affalrs as at 31 March 2025 and of the group's Income and expendlture for the year then ended; have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accounting Practice,. have been properly prepared In accordance with the requi￿rnents of the Companles Act 2006, the Housing and Regeneratlon Art 2008 and the Accounting Direction for Private Reglstered Provlders of Social Housing 2019. Basls for oplnlon We conducted our audit in accordance with Intematlonal Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responslbllltles under those standards are further described in the Auditor's responsibilities for the audlt of the flnanclal statements section of our ￿POrt. We are Independent of the group in accordance wlth the ethlcal requirements that are relevant to our audlt of the flnanclal statements In the UK, including the FRC'S Ethital Standard, and we have fulfllled our other ethlcal responslbblltles In accordance with these ￿quIreMeNts. We belleve that the audlt evldence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relatlng to going concern In auditing the flnanclal statements, we have concluded that the board's use of the golng concem basls of accounting in the preparatlon of the flnancial statements is approprlate. Based on the work we have performed, we have not identlfled any materlal uncertalntles relatlng to events or conditions that, individually or collectively, may cast significant doubt on the assoclatlon's ablllty to continue a5 a going contern for a perlod of at least twelve months from when the flnanclal statements are authorised for Sssue. Our responsibllltles and the responslbllltles of the board wlth respect to golng concem are described in the relevant settlons of thls report. other information The other Informatlon comprises the informatlon Included In the annual report, other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other informatlon. Our oplnlon on the financlal statements does not cover the other Snformatlon and, except to the extent otherwbse expllcitly stated In our ￿POrt, we do not express any form of assuran￿ conclusion thereon. In connectlon wlth our audlt of the flnanclal statements, our responslbllity is to read the other informatlon and, In dolng so. conslder whether the other informatlon Is materially Inconslstent wlth the flnancial statements or our knowledge obtalned in the audit or otherwise appears to be materially mlsstated. If we identify such materlal Inconsistencles or apparent material mlsstatements. we are requlred to determlne whether there Is a materlal mlsstotement in the financial statements or a material mlsstatement of the other informatlon. If, based on the work we have perfomied, we conclude that therels a materlal misstatement of thls other Information, we are requlred to report that fact. We have nothing to report in this regard. 24 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Htre foy Communities Her• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken In the course of the audit: the information given in the Members of the Board's Report (incorporating Strategic Report) for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Members of the Board's Report (incorporating Strategic Report) has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the group and the parent company and thelr environment obtained in the course of the audit, we have not Identlfbed material misstatements in the Members of the Board's Report (incorporating Strategic Report)- We have nothing to report in respect of the following matters In relatlon to which the Companies Art 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept by the parent companyi or returns adequate for our avdit have not been received from branches not visited by us; or the parent company financial statements ère not in agreement with the accounting records and returns. or certair) disclosures of Trustees, remuneratlon specified by law are not made,. we have not received all the information and explanations we require for our audit. In addition, we have nothlng to report in respect of the following matter where the Housing and Regeneratlon Act 2008 requires us to report to you if, in our opinion.. a satlsfactory system of control over transactions has not been maintalned. Respective responsibilities of Trustees As explained more fully in the Statement of the Members of the Board's Responsibilities set out on page 20, the Trustees {who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financlal 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 materlal misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the group's and parent company's ability to contlnue as a going concern, disclosing, as applicable, matters related to going con￿rn and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. Auditor's responslbllltles for the audlt of the flnanclal statements Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free from materlal mlsstatement, whether due to fraud or error, and to Issue arn auditor's report that Includes our opinion. Reasonable assuran￿ Is a high level of assurance, but is not a guarantee that an avdlt conducted in accordance wlth ISAS (UK) will always detect a material misstatement when it exists. Misstatements con 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 user5 taken on the basis of these flnancial statements. 25 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Hèrè for young pèople H¢i¢ f¢1 communttios Hèrè for y¢>u FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Irregularltles, Includlng fraud, are Instances of non-compliance wlth laws and regulatlons. We design procedures in Ilne with our responslbllitles, outllned above, to detect material misstatements in respect of irregularities, Includlng fraud. The extent to whlch our procedures are capable of detectlng ir￿gU18r1ties, including fraud is detailed below.. Dlscusslons with management, including consideration of known or susperted instances of non- ompliance held, Challenging a55UrnPtions and judgements made within significant accounting estimates and Judgements such as depreciation, bad debt arid voids. Identlfication of key laws and regulations central to the associations operations and review of compllance wlth such laws Including a review of the Charities Commission website and the Housing and Regeneration Act 2008. Testing of Journal entries and potential overrlde of systems. Because of the inherent limitations of an audit, there Ss a risk that we wlll not detect all irregularbtles, including those leading to a material misstatement in the financlal statements or non-compllance with regulation. The risk irbcreases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery collusion, omission or misrepresentation. A further descrlption of our responsibillties for the audit of the financial statement5 is located on the Flnancial Reporting Council's website at: htt www,frc.or auditorsres nsibilities This descriptlon forms part of our auditor's report. Use of our report This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audlt work has been undertaken so that we might state to the ompany'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 responsibillty to anyone other than the company and the company's members as a bodyi for our audit work, for this report, or for the opinion5 we have formed. G j￿￿e*￿ Carrle Anne Jensen ACA (Senlor Statutory Audltor) For and on behalf of Forrester Boyd Robson Limited, Statutory Auditor Chartered Accountants 26 South Saint Mary's Gate Grimsby DN31 ILW Date.. 9th September 2025 26 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Heye for communities Hèr• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF COMPREHENSIVE INCOME Note Year ended 31 March 2025 Year ended 31 March 2024 TURNOVER 4,158,866 3,838,589 Operating costs {4,263,281) (3,546,431) OPERATING SURPLUS (104,415) 292,158 Interest recewable and simi￿r income Inte￿st payabk and simik8r charges Change in fair value of investment propertvès Change in fair value of investments 17,278 16,862 (31,413) (31,797) 12 13 9,126 31,803 SURPLUS FOR THE YEAR BEFORE TAX (109,424) 309,026 Taxation SURPLUS FOR THE YEAR AND TOTAL COMPREHENSIVE INCOME FOR THE YEAR (109,424) 309,026 The results relate wholly to continuing activities. The financial statements were approved by the board on September 2025. Moore (T￿aSUrer) Ms H Robertson {Chair) The annexed notes form part of these financial statements. 27 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Heie for youn9 People Here for commuAltles Hère for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONSOLIDATED AND ASSOCIATION BALANCE SHEETS Group 2025 AssociatK)n 2025 2024 2024 FIXED ASSETS Intangible assets Housing properties other tangible assets Investment properties io li li 12 8,012 2,695,924 449,582 1,570,000 11,828 2,905,192 491,811 1,570,000 8,012 2,695,924 426,857 1.570,000 11.828 2,905,192 472,908 1,570,000 4,723,518 482,371 5,205,889 4,978,831 476,714 5,455,545 4,700,793 482,372 5,183,165 4,959,928 476,715 5,436,643 other investments 13 CURRENT ASSETS Stocks Debtors Cash and cash equNalents 14 15 23 4,772 491,630 989,784 1,486,186 4,994 515,790 701,787 1,222,571 510,771 953,259 1,464,030 515,790 691,099 1,206,889 CURRENf LIABILITIES Credfcors.. Amounts falling due within one year NET CURRENT ASSETS /(LIABILITIES) TOTAL ASSETS LESS CURREKf LIABILITIES 16 795,436 838,421 824,538 845,514 '690,750 384,150 639,492 361,375 5,896,639 5,839,695 5,822,657 5,798,018 cre￿￿OrS- Amounts falling due after one year Provisions for liabilitEs 17 2,264.149 2,072.752 2,264,149 2,072.752 18 91,807 116,836 91,807 116,836 TOTAL NET ASSETS 3,540,683 3,650,107 3,406,701 3,608,430 RESERVES UNRESTRICTED FUNDS Designated & general reserves Non-charitable trading reserves 19 19 3,465,364 73,982 3,604,393 41.677 3,465,364 3,604,393 3,539,346 1,337 3,646,070 4,037 3,465,364 1,337 3,604,393 4,037 RESTRICTED FUNDS 19 TOTAL RESERVES 3,540.683 3,650,107 3,466,701 3,608,430 The Association's deficit is £141,729 (2024: surplus £278,655). These finan ial stalements on pages 27 to 52 were approved b the board and authorised for issue on Lseptember 2025 and were signed on its behalf Mr T Moore Treasurer Company Registration Number 00159933 Ms Chai Robe son 28 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 tj •00 zzz vl Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communitse5 Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 CONSOLIDATED STATEMENT OF CASH FLOWS Note 2025 2024 OPERATING ACTIvrrIES Net cash generated from operatlons 22 37,579 15,819 NET CASH GENERATED FROM OPERATING ACTIVITIES 37,579 15,819 CASH FLOW FROM INVESTING ACTIVITIES Interest and dwKlends received 17,278 (49,730) 16,862 (122,342) Payments to acquire tangib￿ r￿ed assets NET CASH USED IN INVESTING ACTIVITIES (32,452) (105,480) CASH FLOW FROM FINANCING ACTIVITIES Payments to acquire fixed asset investments Receipts on sak of r￿ed asset investments Interest pai Proceeds l (Repayment) of borrowings (42.805) 41,892 (31,413) 315,196 {65.315) 59,582 (31,797) (31,057) NET CASH (USED IN)/FROM FINANCING ACTIVITIES 282,870 (68,587) NET {DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS 287,997 (158,248) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR 701,787 860,035 CASH AND CASH EQUIVALENTS AT END OF YEAR 23 989,784 701,787 31 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Hert for young pèople Here tor¢ommunlties Herè ftsryDU FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS LEGAL STATUS AND PRINCIPAL ACCOUNTING POLICIES The Company is a private company limited by guarantee and is an English ￿giSte￿d social housing provider. Each member undertake5 to contribute an amount not exceeding Ip in the event of the Association being wound up. There were 13 members during the year (2023.. 16 members) The address of the Company's registered office and principal place of business is 7 East Strèet. Leicester, LEI 6EY. The Company is a reglstered charity and a public benefit entity. The principal activities are disclosed in the Members of the Board's Report. The Company is incorporated under the Companies Act 2006, Charities Acl 2011 and is a private Registered Provlder of Social Housing (RP). Basls of Accountlng These financial statements have been prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), the Housing SORP 2018 "Statement of Recommended Practice for Registered Housing Providers" and comply with the Accounting Direction for Private Registered Providers of Social Housing 2019, and under the historical cost convention, except that investments are held at fair value. Monetary amounts in these financial statements are rounded to the nearest whole £1, except where othenvise indicated. PRINCIPAL ACCOUNTING POLICIES Reduced Disclosures In accordance with FRS 102, the Company has taken advantage of the exemptions from the following disclosure requirement in the individual financial statements of YMCA Leicestershire. Section 7 '5tatement of Cash Flows, _ Presentation of a Statement of Cash Flows and related notes and disclosures. Section 11 'Basic Flnanclal Instruments, & Sectlon 12 '0ther Flnancial Instrument Issues, Carrying amounts, interest income/expense ènd net gainsllosses for each category of financial InstrLtment' basis of determlning fair values; details of collateral, loan defaults or breaches,, and details of hedges and hedging fair value changes recognised in income or expenditure and in other comprehensive income. Section 33 'Related Party Disclosures, Compensation for key management personnel. The financial statements of the Company are included within these financial statements. Going Concern The Group and Company have prepared detailed budgets and cash flow forecasts for the period of a minlmum of 12 months from the date of approval of these financial statements. To mitigate the economy's difficult permutations, the detailed budgets and cash flow forecasts have been subjected to 3 degree of sensitivity analysis for the same period. On that basis, the members of the Board are satisfied that it remains appropriate to prepare the financial statements on the going concern basis. Turnover Tu rnover represents rental income and service charges income receivable in the year r)et of rent and service charge losses from voids, Supporting People income, revenue grants from Local Authorities and Homes England, and other income. 32 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young PODple Herè for communltles Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) PRINCIPAL ACCOUNTING POLICIES (continued) Supporting People Supporting People income and expenditure relating to Se￿ICe5 is accounted for on an accruals basis, matchln9 income and expenditure, and disclosures are made in accordance with the relevant standards and legislation. Basis of Consolidation These financial statements include the financial statements of the Company and its subsidiary undertaking up to 31 March 2025. Under Section 408{3) of the Companies Act 2006 the Company is exempt from the requirements to present its own income and expenditure account. The consolidated financial statements incorporate those of the Company and all of its subsidiaries (l.e. entltles that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits). All financial statements are made up to 31 March 2025. Investment in the subsidiary is stated at C05t. Donations Donations received for the general purposes of the Company a￿ included as unrestricted fund5. Donations for activlties restricted by the wishes of the donor are taken to 'restricted funds. where these wishes are legally binding on the Board. Restricted Reserves Restricted reserves are those reserves whlch are only expendable in accordance wlth the wlshes of the funder or regulatory body. Expenditure cannot be dlrectly set against restricted reserves, but IS taken through the Income and Expenditure Account. A transfer from restricted reserve5 15 then made as appropriate. By this method, expenditure, which meets the criteria, is charged to the fund, together with a fair allocation of management expenses. Designated Reserves Designated reserves are part of unrestrlcted reserves which have been earmarked by the Board for a particular purpose. Such designations may be reversed by future Board decisions. Expenditure cannot be directly set against designated reserves, but is taken through the Income and Expenditure Account. A transfer is then made from designated reserves as appropriate. Intangible assets Intangible assets are recognised when future economic benefits are probable and the cost of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised to ir)come or'expenditure on a straight-line basis over their useful lives, as follows: Website costs over 5 years Amortlsation Is revised prospectively for any sigr)ificant change in useful life or residual value. On disposal, the difference between the net disposal proceeds and the carrylng amount of the intangible asset is recognised in income or expenditure. 33 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communitie5 H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) PRINCIPAL ACCOUNTING POLICIES (continued) Fixed Assets and Depreciation Tangible fixed assets, are stated at cost, less accumulated depreclatlon. Depreciation Is charged on a straight line basis over the expected economic useful lives of the assets at the following annual rates: Freehold buildlngs {non-housing) Furniture, fixtures and fittings, IT equipment Leasehold improvements Motor vehicles Lifts over 25 year5 over 3 to 10 years (dependent on the expected economic life) over 25 years or the life of the lease if less over 3 years over 25 years Major components of housing properties have been accounted for and depreciated separately from the connected housing property at the following rates: structure Kitchens and Bathrooms Electrical equipment Lifts Freehold land 15 not depreciated. The useful economic lives of all tangible fixed assets are reviewed annually. over 10 to 25 year5 over 5 years over 3 years over 25 years Housing properties are principally properties available for ￿nt and are stated at cost less and provision for any impairment (representing a diminution in the recoverable service potential of the asset below its carrying value in the balance sheet) le55 depreciation. Cost includes the cost of acquiring land and buildings, development costs and expenditure incurred in the respect of improvements. Development costs of properties are capitalised to the extent that they a￿ directly attributable to bringing the properties into working condition for their intended use. Directly attributable costs include the labour costs of own employees (including development staff, in-house architects and surveyors) arising dirertly from the construction or acquisition of the property, and the incremental costs that would have been avoided only if the property had not been constructed. Impairment An assessment is made at each reporting date of whether there are indications that a fixed asset (including housing properties) may be impaired or that an impairment loss previously recognised has fully or partially reversed. If such indications exist, the Group estimates the recoverable amount of the asset. Shortfalls between the carrying value of fixed assets net of any associated Social Housing Grant and their recoverable amounts, being the higher of fair value less costs to sell and value-in-use of the asset based on its seNice potential, are recognised as impairment losses in the Income and Expenditure Account. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Reversals of impairment losses are recognised in income and expenditure. On reversal of an impalrment loss, the depreciatlon or amortisation is adjusted to allocate the asset's revised carrying amount (less any residual value) over its remaining useful life. 34 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people H•re for ¢grnmunities H•rè for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) PRINCIPAL ACCOUNTING POLICIES (continued) Investment Properties Investment properties (including properties held under an operating lease) consist of commercial properties and properties not held for soclal benefit. These properties are initially measured at cost and subsequently measured at fair value whilst a reliable measure of fair value is available without undue c05t or effort. Changes in fair value are recognised in income and expenditure. The Companies Act 2006 requires all properties to be depreciated. However, this ￿quIrement conflicts with the generally accepted accountlng princlple set out in FRS 102. The Board considers that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the surplus for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. Investments and investment Income Investments are carried at fair value. Changes in fair value are included in the Income and Expenditure Account. Investment income is accounted for in the period in which the Group is entitled to receipt. stocks stocks are included at the lower of cost and net realisable value. Taxation The Assoclatlon has charltable status and Is reglstered wlth the Charity Commission and is therefore exempt from paying Corporatlon Tax on charltable activities. Value Added Tax Irrecoverable VAT whlch can be attributed to a capital item or expenditure is added to the cost of the capital item or expense5 where practicable and material. Employee Benefits The costs of short-term employee benefits are recognised as a liability and an expense. The best estimate of the expenditure required to settle an obligation for termination benefits is recognised immediately as an expense when the Company is demonstrably committed to termlnate the employment of an employee or to provide termination benefits. Government Grants Government grants include grants receivable from Homes England, local authorities and other government bodies. Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditlons wlll be met, and the grants will be received. Government grants received for housing properties are recognised in income over the useful economic life of the structure of the asset and, where applicable, the individual components of the structure (excluding land) under the accruals model. Government grants relating to revenue are recognised as income over the periods when the related costs are incurred once reasonable assurance has been gained that the Company will comply with the conditions and the funds will be received. Other Grants Grants received from non-government sources are recognised using the perfOrrnan￿ model. Grants are recognised as income when the associated performance tonditions are met. Leased Assets Rentals payable under operating leases are charged to the Income and Expenditure Account on a straight line basis over the lease term. 35 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communities H•re for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) PRINCIPAL ACCOUNTING POLICES (continued) Pension Costs Defined benefit plans The Company participated in a multi-employer defined benefit plan for employees of YMCAS England. Scoiland 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 Leicestershire. As described in note 18 YMCA Leicestershire has a contractual obligation to make pension deficit payments of £48,269 pa over the period to April 2027 (2024- £48,269 pa), accordingly this 15 shown as a Ilabllity In these accounts. In addltion, YMCA Leicestershire is ￿QuIred to contribute £15,103 pa (2024: £15,384 pa) to the operating expenses of the Pension Plan and these costs are charged to the Statement of Comprehensive Income as made. Defined contribution plans The Group also operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Group. The annual contributions payable are charged to the Income and Expendlture Account. Dlfferences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments. Financial instruments The Group has elected to apply the provlslons of Sectlon 11 'Basic Financial Instruments. and Section 12 '0ther Flnanclal Instruments Issues, of FRS 102, In full, to all of its financial instruments. Financial a55et5 and financial liabilities are recognised when the Group becomes a party to the contractual provisions of the instrument and are offset only when the Group currently has a legally enforceable right to set off the recognised amounts and intends elther to settle on a net basls, or to realise the asset and settle the liability simultaneously. Flnanclal assets Debtors Debtors which are receivable within one year and which do not constitute a financing transaction are Inltially measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument. A provision for impairment of debtors Is established when there Is objective evldence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in income or expenditure for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subseqvent reversals of an impairment loss that objectively ￿late to an event occurring after the impaimient loss was recognised, are recognlsed immediately in income or expenditure. 36 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communlties H*re for yrj FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) PRINCIPAL ACCOUNTING POLICES (continued) Financlal liabllities Creditors Creditors payable within one year that do not constitute a financing transaction are Inltlally measured at the transaction price and subsequently measured at amortised cost, being the transactlon prlce less any amounts settled. Where the arrangement with a creditor constitutes a financlng transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a simllar Instrument. Derecognition of financial assets and liabilities A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant rlsks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires. Provlslons Provisions a￿ recognised when the Group has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obllgatlon can be estlmated rellably, Critical a¢¢ounting estimates and areas of judgement Estimates and Judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions The Group makes estimates and assumptions concerning the future. The resuifing accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Pension Deflclt Liability In calculating the value of the contractual liability (detailed in Note 18), a discount rate of Soh has been applied to the payments due in future years in order to determine their present value. Expected Economic Useful Life of Fixed A55ets The useful economic life of fixed assets (detailed in Note 11) is a key accountlng estimate. Investment Properties The valuation of the investment properties (detailed in Note 12) Is reviewed annually by the Board to assess whether a there is a diminution in the carrying value of the assets. The percentage of 'mixed use, properties deemed as 'lnvestment property, Was calculated based on size of area as per the completed valuation survey by Innes England. 37 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Mere for young people Here foy communitits Htrt for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) GROUP TURNOVER AND OPERATING SURPLUS/(DEFICIT) Year to 31 March 2025 Operating surplus/ (defKit) Operating cfjsts Turnover Socwl Housing Non Sock31 Housing artD1rt￿s 2,487,082 1.671.784 (2,514.967) { 1,748,314) (27,885) {76,530) Total 4,158.866 (4,263,281) (104,415) Year to 31 March 2024 Opernting sts Operating surplus/ (deficit) 134,183 Turnover £ Soclal Housing 2,347,436 (2,213,253} Non Social Housing activ￿￿5 1,491,153 (1,333,178) 157,975 Total 3,838,589 (3,546,431) 292,158 38 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for Yo￿￿9 people Here for communities Her• for yo FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) TURNOVE￿ COST OF SALES, OPERATING COSTS AND OPERATING SURPLUS Particulars of Group income and expenditure from social housing lettings General Housing 2025 Genernl Housing 2024 TURNOVER FROM SOCIAL HOUSING LErrINGS Rent recewable net of voids 1,261,854 576,912 1,193,489 542,645 Service charges receNable NET RENTAL INCOME 1,838,766 1,736,134 Supporting peo ple contract Income Other revenue grants Grant amOrtisat￿n 477,567 2.152 168,597 424,349 25 186,928 TURNOVER FROM SOCIAL HOUSING LETfINGS 2,487,082 2,347,436 EXPENDITURE QN SOCIAL HOUSING LE￿ING5 Direct costs 61,100 1,363,681 308,534 159,344 25,039 34,309 562,960 18,735 1,208,396 224,088 169,823 37,849 30,783 523,579 Staffing Admlnistration Depreck?tK)n and amortisatDn Maintenance Servres ServKe charge costs OPERATING COSTS ON SOCIAL HOUSING LETfINGS (2,514,967) (2,213,253) OPERATING SURPLUS ON SOCIAL HOUSING Le￿INGs (27,885) 134,183 Rent bsses on VOKIS 164,189 59,570 Supported Housing Accommodation owned and managed 2025 2024 No. of units No. of units Let at social rent 117 109 39 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for yOUb)g people Here for communities H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO TH E FINANCIAL STATEMENTS (continued) OPERATING (DEFICIT)/SURPLUS The operatlng surplus is stated after charging/(crediting).- Group 2025 2024 Depreciation of housing properties Depreciation of other tangible fixed assets Amortisation of intangible ftxed assets Amortisation of grants Audfcorfs remuneratK)n (audr( SerV￿e$} Auditorfs remuneratK)n (non-audit work) Operating lease rentals Cost of stocks recognised as an expense 218,485 82,742 3,816 (168,597) 18,029 1,000 108,080 32,524 236,053 75,179 3,816 (186,928) 18,029 1,000 72,863 28,593 INTEREST RECEIVABLE AND SIMILAR INCOME Group 2025 2024 Interest on bank deposfcs Income from listed investments 2,305 14,973 1,337 15,525 17,278 16,862 40 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Mgr? for communitivs H•r• for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) INTEREST PAYABLE AND SIMILAR CHARGES Group 2025 2024 YMCA perns￿n notional finance charye (Note 18) Interest on bank ban 7,991 10,077 23,422 21,720 31,413 31,797 DIRECTORS, EMOLUMENTS The Directors are delined as the members of the Board, the Chief Executive and other senior executlves. None of the members of the Board received any emoluments. Details ofthe Chief Executive's and other senior Executives, emoluments in respect of services to the Company are as follows: 2025 2024 Basic salary Pension contrlbutions 358,025 16.203 365,511 15,756 374,228 381.267 2025 2024 Number of Directors accruing benefts in the pension scheme Emoluments disclosed above include the following amounts paid to the highest paid director.. 2025 2024 Emoluments for qualfying services 116,151 119,085 Pension contributK)ns 7,310 7.172 The Chief Executive is a member of the Company's pension scheme. He is an ordinary member of the pension scheme and no enhanced or special terms apply. The Company does not make any further contributions to an individual pension arrangement for the Chief Executive. 41 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young Ptople Here for communltie$ H•ro for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) EMPLOYÉE INFORMATION 2025 No. 2024 No. Average number of persons (including part-time employees and the ChEf Executwe but excludes Casual staff) employed during the year 79 76 Full time equwalent {35 hours per week) 68 65 The Group also holds a bank of casual staff (sessional) who can be called on to cover short term unexpected absences. During the year the Group had 39 casual staff on its books (2024: 25). 2025 2024 staff costs (for the above persons) Wages and sakries Social security costs Other pensi)n costs 2,245,932 200,773 54,114 2,077,149 181,599 47,571 2,500,819 2,306,319 There were three employees whose income exceeded £60,000 (2024,. two) and one fell within the £1 10,001 £120,000 bracket during the year (2024: one £IIO,001 £120,000 bracket). The total compensatlon of employees who are considered to be the key management personnel of the Group was £417,119 (2024: £424,806). There were £423 travel expenses reclaimed by Board members in 2025. (2024: £0) 10. INTANGIBLE FIXED ASSETS Group and Association Webslte costs Cost At l April 2024 Addftions 29,120 At 31 March 2025 29,120 Amortisation At l April 2024 Charge for the year 17,292 3,816 At 31 March 2025 21,108 Net Book Value At 31 March 2025 8,012 At 31 March 2024 11,828 42 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here lor yo¥ng people Here for communltles Here for yo FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 11. TANGIBLE FIXED ASSETS Group and Association Soaal Housing Propert*s held for letting Cost At l April 2024 prOpert￿S acquired Works to existing properties Disposals - component write-off 7,498,177 9,217 At 31 March 2025 7,507,394 Depreciation At l April 2024 Charge for the year Eliminated on di5posaLs - component wrfte-off 4,592,985 218,485 At 31 March 2025 4,811,470 Net Book Value At 31 March 2025 2,695,924 At 31 March 2024 2,905,192 In accordance with the accounting policy, Included within Housing Properties (historical cost), the Group and Association have capltalised in the year £9,217 12024: £14,292) of expenditure on works to existing properties. No capital expenditure has been included in the Income & Expenditure Account {2024,. £nil). Depreciation charye for the year 2025 2024 Annual depreck3tion charge ACCe￿rated depreciatK)n on component write off 218,485 236,053 218,485 236,053 43 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Htre for young people Here for communitl¢s H•re for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) TANGIBLE FIXED ASSETS (contlnued) Group Freehold Land & Buildings Furniture, Fixtures & Fittings Lift TOTAL COST At l April 2024 Additions 918,914 881,384 28,923 (10,000) 338,533 11,590 2,138,831 40,513 (10,000) Disposals At 31 March 2025 918,914 900,307 350,123 2,169,344 DEPRECIATION At l Aprll 2024 Charge for the year Disposals At 31 March 2025 827,254 18,764 519,830 61,888 (10,000) 571,718 299,936 2,090 1,647,020 82,742 (10,000) 1.719,762 846,018 302,026 NET BOOK VALUE At 31 March 2025 72,896 328,589 48,097 449,582 At 31 March 2024 91,660 361,554 38,597 491,811 Association Freehold Land & Buildings Furniture, Fixtures & Fittings Lift TOTAL COST At l April 2024 Additions 918,914 841,390 21,496 {2,487} 338,533 11,590 2,098,837 33,086 {2,487) Disposals At 31 March 2025 918.914 860,399 350,123 2.129,436 DEPRECIATION At l April 2024 Charge for the year Disposals 827,254 18,764 498,739 58,283 (2,487) 299,936 2,090 1,625,929 79,137 (2.487) At 31 March 2025 846,018 554,535 302,026 1,702,579 NET BOOK VALUE At 31 March 2025 72,896 305,864 48,097 426,857 At 31 March 2024 91,660 342,651 38,597 472,908 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for cornmunitlVS Her¢ for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 12. INVESTMENT PROPERTIES Group and Association 2025 2024 At l April Increase in fair value 1,570,000 1,570,000 At 31 March 1,570,000 1,570,000 Investment properties were valued as at 31 March 2021 by Innes England. The valuation of the group's properties was carried out in accordance with the Royal Institute of Chartered SuNeyors ('RICS") Professional Standards UK January 2014 and with particular regard to Financial Reporting Standard 102 and the Social Housing Statement of Recommended Practice. 13. FIXED ASSET INVESTMENTS Association Investment in subsidiary company The Company owns the whole of the ordinary share capital (l ordlnary share of £1) of Y Leisure Limited. The company is incorporated in Great Britaln and registered in England and Wales and has been established to carry on trading activities on the Assoclation's behalf. Its re9lStered office is set out on page l. Y Leisure Limited operates a bar for the use of patron5 of the Association and members of the public. The company will gift aid any taxable profits to YMCA Leicestershire. A summary of its trading results is shown below: 2025 2024 Profit and loss attount Turnover 101,502 87,433 (46,551) Cost of sa￿5 (58,132) Gros5 prof 43,370 40,882 Administrative expenses (11,065) (10,511) Prof￿ on o rdinary activities before and after tax and retained 32,305 30,371 Capltal and reserves 73,983 41,678 45 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communitles Hèye for FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 13. FIXED ASSET INVESTMENTS (continued) 2025 2024 Group and Association Other investments - listed at fair value At l April Additlons Disposals Realsed galn on disposal Unrealised gain/{deficit) 476,714 42,805 (41,892) 439,178 65,315 (59,582) 138 31.665 4,744 At 31 March 482,371 476,714 Historical cost 380,111 379,240 14. sfocKS Group 2025 Association 2025 2024 2024 Goods for resa 4,772 4,994 15. DEBTORS Group 2025 Association 2024 2025 2024 Houslng debtors Other trade debtors Bad debt provisio n TaXat￿n (VAT) Amount owed from subsidiary company Other debtors Prepayments & accrued income 370,348 27,469 (15,190) 186,014 268,925 (18,940) 11,237 370,348 46,610 {15,190) 186,014 268,925 (18,940) 11,237 4,409 104,594 1,856 66,698 4,409 104,594 1,856 66,698 491,630 515,790 510,771 515,790 Amounts written off housing debtors in the year amounted to £nil (2024: £5,772). 46 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communities Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 16. CREDrroRS Amounts falling due within one year Group Association 2025 2024 2025 2024 Trade creditors Bank ban TaXat￿)n & Soci31 Security Accruals Deferred income Amount owed to subsKliary company Other creditors Deferred capttal grant (see note 17) 261,027 259,306 20,834 51,203 69,347 243,100 276,202 253,778 20,834 48,445 69,347 243,100 17774 9,060 183,176 37,162 101,033 224,453 34,343 101,033 224,453 19,141 10,154 159,212 12,549 159,212 11,455 183,176 795,436 838,421 824,538 845,514 17. CREDITORS Amounts falling due after one year Group Assoclatlon 2025 2024 2025 2024 Bank ban 575,000 238,970 575,000 238,970 Deferred Cap￿al grant 1,689,149 1,833,782 1,689,149 1,833,782 2,264,149 2,072,752 2,264,149 2,072,752 The bank loan is secured by a legal charge over 7 East Street Leicester, LEI 6EY. Group and Association 2025 2024 Deferred capital grant As at l April Amortisat¥)n 2,016,958 {168.597) 2,203,886 (186,928) As at 31 March 1,848,361 (159,212) 2,016,958 (183,176) Less: due in less than one year Due after more than one year 1,689.149 1.833,782 Group and Assodatlon 2025 2024 Bank Loan Amounts falling due by instalments after more than five years 510,974 58.417 Repayment terms being monthly over a 10-year term at an interest rate of 6.050/0 pa (2024.. 6.980/0). Loan terms to be reviewed after 10 years in December 2034, 47 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for communities Her¢ for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 18. PENSION PROVISION Group and Association YMCA Pension 2024 2025 l April 116,836 335,910 Pabj in the year (48,269) (57,664) Unwinding of discount (Note 7) 7,991 10,077 Change in fundlng deficlt arrangements 31 March 15,249 (171,487) 91,807 116,836 YMCA Leicestershire 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 Leicestershi￿ and at the year-end these were invested in the Mercer Dynamic De-risking Solution, 650/0 matchlng portfolio and 350/0 in the growth portfol io and Schroder {property units only). The most recent completed three year valuation was as at l May 2023. The assumptlons used which have the most slgnlflcant effect on the results of the valuation are those relating to the assumed rates of return on assets of 4. 560/0, the increase in pensions in payment of 3. 180/0 (for RPI capped at 50/0 p.a.), and the average life expeciancy 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 actuarlal value of the assets was £103.Im, which represented 920kn 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 beneflts all employed deferred members became defer￿d members as from l May 2011. The valuation prepared as at l May 2023 showed that the YMCA Pension Plan had a deficit of £9.1 million. The Association has been advised that it will need to make monthly contribLJtions of £4,022 from l 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 6.050/0 (2024: 6.730/0). The current recovery period is 3 years commencing 1st May 2024. Repayable After more than one year One to two years Two to rwe years After fwe years within one year Total Asat 31 March 2025 45,515 42,919 3,373 46,292 91,807 31 March 2024 38,349 76,315 116,836 In addition, YMCA Leicestershire may have over time, liabilities in the event of the non-payment by other participating YMCAS of their share of the YMCA Pension Plan's deficit. It is not possible currently to quantify the potential amount that YMCA Lelcestershlre may be called upon to pay in the future, 48 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 Lno o)00 moo om Qto m + rri N ti) f¥) CO tr O 0￿￿0 Lnoo (000 moo Ln rq c¢ u£ rL Q) Ck (£>>uziiuz Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here toy ¢ommunltl¢$ H•r• for YD FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 19. RESERVES: movements in the year (contlnutd) Transfers The transfer from restricted funds amounting to £40,938 to non-housing activities general reserve is to reflect the Charity's support for the activities delivered by these restrlcted funds, The Board members have reviewed the designated funds at the year-end which are separate to general reserves of the Group within the unrestricted fu nds. Accordingly, the appropriate transfers have been made to represent the decision made with respect to designated funds. Restricted reserves relate to monies ￿ceIVed, only to be expensed agalnst the speciflc project that the monies were intended for. Below Is a brief description of each restricted reserve,. Y-support Project - Local Authority grant for a day centre drop-in service for vulnerable and street homeless people. The Ralph Hale reserve was a donatlon to the project for eq uipment. The Cold Weather Café donation is for the provision of hot meals during the winter months. The New Opportunities Foundatlon (NOF) grant was used for the sports hall fittings which Is now classed as investment property. Heritage Lottery Grant funding for a 3 year project to engage vulnerable and disadvantaged young people to the arts and heritage sector. Ended dvrlng the year. Historic England - to develop and dellver education programmes to engage residents via the cultural arts. Cadent - to develop and deliver an educational scheme to residents on savlng energy usage via independent Ilvlng skills. NHS LLR ICB (Mental Health) NHS grant to continue the work of Complex Needs coaches providing help and support for young people with complex mental health issues, 20. CAPITAL COMMrrMENTS Capital expenditure approved by the Board of Directors amounted to., Group 2025 Association 2025 2024 2024 Contracted 9,649 9,649 50 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here for young people Here for cornmunities Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 21. COMMITMENTS UNDER OPERATING LEASES The operatlng leases Include a new electrlc van for operatlons, copying and printing equipment and software across the multi-sited organisation. At 31 March 2025 the total future commitments under non-cancellable operating leases were as follows.. Group and Association Other 2025 2024 Within one year Within 2 to 5 years 322,768 663,767 138,624 532,960 986,535 671,584 22. RECONCILIATION OF SURPLUS AFTER TAX TO NET CASH GENERATED FROM OPERATIONS 2025 2024 Surplus for the year Adjustments for: Depreckltro n of tangible fixed assets Amortisatk)n of intangible r￿ed assets Grant amortisatk)n Inte￿5t and dwidends recewab Interest payab Falr value def￿1t1(galn) on investments (109,424) 309,026 301,227 3,816 (168,597) (17,278) 31,413 (4,744 311,231 3,816 (186,928) (16,862) 31,797 (31,803 Operating cash fbw before movements in working capital 36,413 420,277 (Increase)/Decrease In stocks (Encrease) in debtors {Dec￿ase)1InCrease in crediiors (Decrease) in provish?ns 222 24,160 1,813 (25,029) (1,177) (153,603) (30,604) (219,074) Cash generated from operations 37,579 15,819 23. CASH AND CASH EQUIVALENTS Group 2025 Association 2024 2025 2024 Cash and cash equwalents represent: Cash at bank 989,784 701,787 953,259 691,099 51 Docusign EnvelopÈ ID". 6466A237-C756445PthDE1-CCD788619F42 YMCA LEICESTERSHIRE Yn¢A Here foy young people Here foy communities Here for you FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 24. ANALYSIS OF CHANGES IN NET DEBT Other non- cash At 31 March changes At l April Cash flows 2024 2025 Cash and cash equivalent$ Cash 701,787 287,997 989,784 701,787 287,997 989,784 Borrowings Bank k)an Debt due within l year (20,834) (238,970) 20,834 Debt due after l year (336,030) (575.000) (259,804) (315,196) {575,000) Total 441,983 {27,199) 414,784 25. RELATED PARTY TRANSACTIONS There were no related party transactlons to disclose for the year ended 31 March 2025 or in the previous year. 52