LINCOLNSHIRE Y.M.C.A. LTD Trustees, Report and Group Financial Statements Year ended 31 March 2024 Company No: 00734870 Charity No: 243017 RSH No: H2676 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Pages Chair's Foreword Trustees, Annual Report 5-16 Independent Auditor's Report 17-20 Statement of Financial Activities 21 Group and Company Balance Sheet 22 Group Statement of Cash Flows 23 Notes to the Financial Statements 2448 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Company Registration Number 00734870 Charity Registration Number 243017 Registered Social Landlord Number H2676 Chair I Sackree FCCA (Resigned 25 September 2023) K Wilson QPM (Appointed as Trustee 5 June 2023 and as Chair 26 September 2023) Vice Chair J Henwood FCMA Other Trustees M Botterill C Burke N Cucksey (Appointed 29 January 2024) N Dewhirst-vickers (Appointed 29 January 2024) J Green W Hawtin R Mair A Robson C Stacey D Thomas (Resigned 31 August 2023) (Resigned 14 May 2024) (Resigned 18 March 2024) (Appointed 29 January 2024) (Appointed 29 January 2024) Chief Executive Officer C Killeavy Registered Office St Rumbold's Street Lincoln Lincolnshire LN2 SAR Banker Natwest Bank PIC 135 Bishopsgate London EC2M 3UR Auditors Dexter & Sharpe Rollestone House 20-22 Bridge Street Horncastle Lincolnshire LN9 5HZ Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 CHAIR'S FOREWORD On behalf of the Trustees, l am pleased to present this Trustees Report and Financial Statements for the Year Ended 31 March 2024. 1 am proud to present my first report as Chair of Lincolnshire Y.M.C.A and would like to record our thanks to lan Sackree who was Chair through to September 2023. Our team of colleagues and volunteers continue to deliver exceptional services to those that need us most, and we thank them for all the work they do for the Charity. The Trustees agreed a minimum pay increase of 60/0 for our colleagues this year, this demonstrating the Twstees appreciation of our colleagues and their continuing dedication to the work of the Charity. The Charity has continued to fa￿ some difficult economic conditions including higher than usual inflation requiring significant increases to pay rates across the sectors in which we operate. Once again, the Charity has performed well and adjusted to these changing circumstances seeking additional funding and further efficiencies wherever possible. In Lincoln the team have been successful in gaining the funding and local support to deliver two significant capital projects. Both property development projects are currently on site, due to be completed in December 2024. The expansion of our residential offer on St Giles will give us important new self-contained apartments to help those who have experienced homelessness. Nearby the newly refurbished youth centre, funded through the Govemment's Youth Investment Fund, will bring much needed facilities for young people in the local community. Since the year end the Charity has taken on the activities and welcomed the team at Honeypot Preschool in Gainsborough. The charity worked hard to secure this acquisition to expand it's Early Year childcare provision to communrties in need. We have been delighted to achieve GOOD ratings in all three Ofsted inspections that took place at our other settings during 2023- 2024. The Charity continues to look for new ways to expand its services across the County of Lincolnshire whilst at the same time continues to support our existing customers and beneficiaries. Kerrin Wilson QPM Chair of the Board Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 REPORT OF THE TRUSTEES The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 st March 2024. The Trustees have adopted the provisions of the second edition of the Charities, statement of Recommended Practice (SORP) (FRS 102) 'Accounting and reporting by charities, released in October 2019. Our Mission Our mission, based on Christian values, is to develop the mind, body and spirit of individuals, families and communities and improve health and wellbeing for all. Objectives and Activities Charitsble Objectives Lincolnshire Y.M.C.A ('the company. or'the Charity.) is established with charitable objectives and is affiliated to the National Council of the Young Men's Christian Association. It forms part of the world wide YMCA movement. The Charity, a Christian organisation, provides people of all ages with the provision of facilities for recreation and other leisure time occupation for men and women with the objecl of improving their conditions of life. The Charity relieves the poverty of single homeless persons by providing and maintaining accommodation for such purposes. For the public benefit to advance education by the provision of children's nursery and day care facilities in conjunction with government initiatives for disadvantaged families and the provision of facilities for training and conferences to those in education and involved with young people. The Charity welcomes, serves and works with persons of all religious faiths and of none. The Board's strategy for achieving the Charity's objectives is to deliver a range of youth work, child care, community services and housing across Lincolnshire. Through its trading subsidiary, YMCA Trading Ltd, the Charity also operates a conferencing and events centre and café facility for local community use. Profits from the trading company and retail activity are distributed to the Charity for general purposes of the Charity. Principal Activities Housing We maintain 161 housing units across Lincoln, 22 of these are in our Nomad Emergency night shelter. Our services are offered to those requiring temporary Supported Accommodation and we provide wraparound support to vulnerable people in need. Early Years Education Following the acquisition of Honeypot Preschool in July 2024 we operate 4 Ofsted registered Early Years Education settings in Lincoln and Gainsborough. We have approximately 200 children registered across the 4 settings. Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Community Support The aim of our community development team is to ensure that rural communities across Lincolnshire are stronger where people come together empowered and confident to make change that they feel is important to them. Youth Services Our Youth service runs youth clubs and activity programmes across Lincolnshire. These sites include the five RAF bases in the county. Additionally we deliver "Mind, Body, Spirit" personal development courses to schools and provide a facilitated venue and activities for children who are home educated. Health & Fitness In addition to the provision of sports, including parkour through our youth team we run Lincolnshire's biggest climbing wall which offers training and facilities to experienced climbers, novices and schools. We also support schools to assess students studying climbing as part of GCSE PE. Conferencing & Catering We host a range of clients in our conference spaces at our Lincoln site. The client base includes dance schools, business conferences, NHS Blood Donor sessions, worship events and private parties. Retail We operate two Charity shops in Lincoln to generate funds for the Charity and service a social need for affordable clothing, and other goods. Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Achievement and performance Housing We continue to broaden our housing offer, widening the range of quality options for those in need. This will help to minimise risk to the Charity whilst also improving its financial sustainability. We are currently on site extending Sheridan House in Lincoln. This scheme improves the standard of accommodation whilst increasing the number from 8 apartments to 16. The development is due to be completed before the end of 2024 ready for residents to move in prior to Christmas. We have been grateful for investment from Homes England to enable this development. In June 2023 we moved from Tennyson House in Lincoln to 99 High Street, Lincoln. This property providing good quality accommodation to 14 residents under 25 years of age. We have secured further funding for the Psychotherapist servi￿ supporting our residents and from April 2024 we are working with Turning Point providing a drug rehabilitation service. Communities We have delivered a very active programme of support for communities across Lincolnshire. With more than 100 village halls and community buildings being subscribers to our support network, and approximately 20 being successfully supported in applying for funds. Our Energy Saving Network has held 120 advice sessions supporting families across the county. With funding from the National Lottery Heritage Fund we delivered four heritage based projects enabling residents to explore, take pride in and love the places which they live. More than 250 people took part in these projects. We have been successful in applying for funding across four District Councils through the Shared Prosperity Fund programme. This will be used to support communities to develop new groups and activities that can increase engagement, well-being and involvement in community life. Early Years Education We continue to assess opportunities to expand our services and since the year end we took on the services at Honeypot Preschool in Gainsborough expanding our services to four settings and approximately 200 registered children. Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Youth Services We operative a very significant and varied programme of youth engagement across Lincolnshire. In Lincoln we are successfully establishing a youth service in the St Giles area. This includes the development of a new Youth Centre in a property provided by the City of Lincoln Council following a successful £2m bid to the Youth Investment Fund. Already nearly 500 young people have been involved in nearly 1,500 different engagements. The development of the Youth Centre building will be completed towards the end of 2024. At Sleaford, in advan￿ of a new Youth Club to open in autumn 2024 approximately 600 engagement activities have taken place. Across North Kesteven we have delivered more than 70 Mind Body Spirit Sessions with approximately 250 young people taking part. Through our Airplay programme approximately 700 young people were registered and across all our youth programmes we engaged with approximately 5,000 young people. Wellbeing and justice In April 2023 the activities and colleagues of Just Lincolnshire transferred to Lincolnshire YMCA. Just Lincolnshire also made a donation of £94,666 to Lincolnshire YMCA to allow the activities of Just Lincolnshire to continue as an activity of Lincolnshire YMCA. We have expanded the Just Lincolnshire Ambassador programme which now total 39, 8 of which are newly trained members of the Lincolnshire YMCA EDI forum. We have also grown the Just Lincolnshire Young Ambassador programme to 22. The Safer Streets Project was successfully completed in Boston, Skegness and Spalding, with engagement with approximately 1,000 individuals. Conference & Catering At the Showroom in Lincoln we continue to provide conference and event Servi￿$, alongside our café. Each month we host our popular community meal, EAT (Eat All Together), which is a free meal for all those attending. Retail Our retail locations provide funding to support our activities and we are actively seeking new opportuntties to add to our Burton Road and Moorland Avenue locations in Lincoln. Fundraising This year, along with our regular fund raising activities such as Sleepeasy the focus has been on securing the funding for our larger programmes and capital projects. With more than £2m raised for the Youth Centre along with services on St Giles, and more than £1.7m for the expansion and refurbishment of Sheridan House, the Charity has been successful in progressing these larger projects. Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charty Number 243017 Thanks to the UK Government's Shared Prosperity fund we re￿iVed £121,503 in the financial year which supported the work of CommunFty Development Officers across four District Council areas. We are grateful for ongoing support for our Village Hall programme and rural development work from DEFFL4, through our valued membership of ACRE. Value for Money Value for money {VfM) is considered in all our activities. In line with the social housing regulatory requirements the required metrics and statements are included below. Our Approach Our approach to delivering Value for Money focusses on providing high quality seniices to our diverse customer base which are responsive to the needs and aspirations of the people we serve and ensure a positive impact on their lives. A key strategic ambition is to be a sustainable Charity with a long-term horizon, ensuring that our products and services make a positive contribution, financially or through social value. Value for Money Statement Housing Highlights of the Year The Nomad direct access homeless Centre provided over 200 people with a safe place to stay and supported them with a range of multiple and complex support needs. Collaborative working with the Holistic Health for Homeless team (HHH) continues. This enables our residents to access on-site medical care as well as HEP-C testing, and sexual health clinics. Throughout the year, we have facilitated visits at our Nornad Centre from barbers, opticians, dentists and podiatrists to contribute to the wellbeing of our residents. We have engaged residents in activities at the Oasis garden, a therapeutic garden that we brought into our Charity portfolio in January 2023. Our residents have taken part in a number of social activities including visits to the Lincolnshire coast and local tourist attractions. Residents have also taken part in climbing, parkour activities and cooking lessons at The Showroom. We have continued to commit to the training and development of our staff. Through funding from the Shine Lincolnshire Suicide Prevention Fund, we provided suicide prevention training to our housing team. Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 We have developed plans to increase the number of housing units we offer in Lincoln through the redevelopment of one of our properties. which will deliver another 8 self- contained apartments in 202415 and convert 8 existing untts with shared facilities into self-contained apartments. We continue to receive food, toiletries and clothes from the local community and local businesses. Social Housing Metrics Metric 2023-2024 2022-2023 Reinvestment % 1.290 New Supply as a OA of Current Units New Supply (non-housing) as a 0/0 of total units Gearing 00 ots oo -22.30 -22.40h EBITDA MRI interest cover 11.4 Headline Social Housing cost er unit Operating Margin (Social Housin Operating Margin {Overall) £18,387 £16,801 4.1Yo 0.60h 1.80 Return on Capital Employed 0.90 202212023 metrics have been restated as necessary to reflect the prior period adjustment. 10 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Structure, Governance and Management Governing Document The Charity is constituted as a company limited by guarantee as defined by the Companies Act 2006. It is governed by its Articles of Association as revised in 2023. Recruitment and Appointment of the Board The Directors of the Company are also Charity Trustees for the purpose of Charity law and under the Company's Articles are known as governan￿ members. Under the requirements of the Articles of Association members of the Board are elected each year and serve for a period of three years. Each member of the Board may serve for three terms of three years before taking a break of at least one year. The Board seeks to ensure that the diverse range of services and activities provided by the Charity are represented by the broad skills mix of its members. The Board is made up of members who have backgrounds in business, finance, human resources, marketing or experien￿ of working with young people. In the event of particular skills being lost due to retirement, individuals are approached to offer themselves for election to the Board. No other organisation has a right to appoint a Trustee to the Board. Trustees have left us this year after many years of service. We would like to put on record thanks to each of the Trustees who have serded on the Board this year. Payment of Board Members No fees or remuneration have been paid to any Board member of the Association during the year for their role as Board members. Induction and Tralnlng of new Trustees New Trustees attend a short induction session to familiarise themselves with the Charity and the context within which it operates. These are jointly held by the Chair of the Board and the Chief Executive of the Charity and cover: The obligations of the Board members. The main documents which set out the operational framework forthe Charity, including the Articles of Association. ReSoUr￿S and the current financial position as set out in the latest published accounls and management accounts. The future plans and objectives of the Charity. The Board Members, Handbook. 11 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Information and newsletters also provided through the Charity Commission and YMCA England for all Trustees. Additional training for Trustees is encouraged and information passed on to Trustees from local solicitors and accountants around Charity law, being a Trustee, and finance in particular. These are circulated for Trustees to take up these opportunities with the YMCA paying the costs associated with attendance. Organisational Structure Lincolnshire YMCA has a Board of up to 15 Trustees who meet up to 6 times a year. They are responsible for the strategic direction, govemance and policies of the Charity. The Board also has a number of sub-committees. These were revised in January 2021 and are: Finance Commtttee Risk and Compliance Committee Each sub-committee reports to the Board. In addition, the Board introduced 'Link Trustees, whereby small groups of trustees work with the directors for Housing and Communities. A Scheme of Delegation is in place and the day-to-day responsibility for the provision of services rests with the Chief Executive along with the senior management team. Clear financial rules and regulations around limits of financial spend are contained within our Financial Rules document. Any decisions at Board level are taken by a vote depending on the nature of the decision to be made. This may be by simple majority or a proportion of the Board present in accordance with our Articles of Association. YMCA Context Lincolnshire YMCA is located in the Midlands region of the YMCA Federation and engages with other YMCAS through the Chief Executives, Network, other functional networks and regional committees. On a national level, Lincolnshire YMCA is supportive of YMCA England and both gives and receives support via an exchange of information and attendance at the National Assembly and the Annual General Meeting of YMCA England. Lincolnshire YMCA is prominent in the network of local third sector organisations. Staff engage in groups and committees in areas of work such as youth work, housing and childcare. The CEO and senior team maintain professional networks around the city of Lincoln. Lincolnshire YMCA engages with local authorities through housing forums. public health committees and other local action groups when need arises. 12 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Public Benefit We have referred to the guidance on public benefit issued by the Charity Commission and are satisfied that the Charity's activities as described in our review 2023-24 do provide wider public benefit. Board members consider how planned activities will contribute to the aims and objectives they have set for the Charity via review and approval in their meetings. Risk Management The Board of Management has conducted a review of all major risks to which the Charity is exposed. The risk register is updated at least quarterly and then presented to the Risk and Compliance sub-committee of Trustees prior to referring the report to the full Board. Where appropriate systems and procedures are established to mitigate the risks the Charity fa￿s. Policies and procedures are periodically reviewed in response to either external changes in regulation, internal changes to operating policies, or the scheduled review date to ensure they continue to meet the needs of the Charity. Key areas of risk identified are as follows.. The Board of Trustees takes its responsibility in relation to the safeguarding of children, young people, and vulnerable adults very seriously. Members of the Executive are appointed as designated safeguarding leads. We ensure that DBS checks are carried out for all trustees, colleagues and volunteers who have direct contact with children, young people, or vulnerable adults on joining the Charity and at least every three years thereafter. The health and safety of all stakeholders, including fire risk management, continues to be monitored by the Risk and Compliance Committee with regular reporting to the Board of Trustees. The Charity employs a Health and Safety Officer and there is Health and Safety Forum which meets monthly. With the Charity embarking on significant large projects, both revenue and capital in nature, the risks associated with these have been captured in the risk management processes. Mitigations have been put in place to ensure these risks are appropriately managed. Associated with the expansion of services this is a more general risk of ensuring the Charity maintains adequately resourced, with suitably qualified and experienced colleagues. Appropriate procedures and policies are embedded to ensure this risk is managed and this was a particular area of focus for the Risk and Compliance Committee during the year with the Committee reassured on this risk. Going Concern The Board members consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements and have identified no material Un￿rtaIntieS as to the Association's ability to continue as a going concem over a period of at least twelve months from the date of approval of the financial statements. 13 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 FINANCIAL REVIEW During the year, the Finance Committee met 6 times with the remit to assist the Board in its duty to supervise the direction of the CharÉty's financial affairs. The Consolidated Statement of Financial Activities has been updated to include the activities of Just Lincolnshire. Income Total income for the year was £5,560,832 (£5,016,378 2022123) - an increase of £544,454. Income from housing, including the Nomad Centre, increased by £238,171 compared to 2022123.This 8.4 % increase reflecting an increase in the rent from the local authority along with high occupancy rates. Income from our Nursery settings increased by £63,974, or 110A, though this remained a Servi￿ that the Charity is subsidising from other activities. The climbing centre at the Showroom generated an increased income of £44,302 over the previous year with an increased number of participants. Our Youth support work continued to grow, with an increases income of £22,142 with the Airplay clubs on behalf of the RAF Benevo16nt Fund at air bases in Lincolnshire continuing through the year. Income to the Communities team increased by £52,028 and Just Lincs was incorporated for the first time with an income of £149,556. Funding for various projects including the youth centre at St Giles in Lincoln increased income, by £311,644 and our trading income from conferences and café improved by £57,790. In 2022123 general donations benefitted from a large legacy of over £500,000 taking the total donations that year to £659,589. This year donations totalled £209,080. Details of funding sources are shown in note 3 to the Financial Statements. Expenditure Total expenditure incurred was £5.527,473 (2022123- £4,807,833); an increase of £719,640. This reflects the expenses of the funded projects noted above, the incorporation of Just Lincolnshire overheads along with general inflationary increases. Details of expenditure are shown in notes 6 to 11 in the Financial Statements. Net Movement of Funds Net income for the year was £33,358. 14 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Reserves Policy The Trustees have conducted their annual review of the reserves policy and wish to retain free reserves, which are unrestricted funds not invested in fixed assets, funds designated for a specific purpose or otherwise committed within the range of two to three months of operating costs that is approximately £500,000 to £750,000. The Charrty supports many vulnerable beneficiaries as well as employing permanent staff and in the event of a failure of funding the Charty would want to meet all obligations in this regard. The diversity of the Charity's income streams, and the level on Insuran￿ cover held have been factors in arriving at the level of reserves the trustees deem to be necessary. The Trustees have recognised that whilst free reserves are currently below the lower limits of the policy, having reviewed the overall position of the Charty and taking into account the overall reserves level reported in the accounts, they assess that the free resepies level meets the intent of the policy and are at an appropriate level. 15 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees {who are also d1￿CtorS of the charitable company for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees are required to prepare financial statements for each financial year in accordance with the applicable SORPS based on FRS102. The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of its incoming reSoUr￿S and application of resources of the charitable company for that period. In preparing these financial statements, the Trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP 2019 (FRS 102). Make judgements and estimates that are reasonable and prudent. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time, the financial position of the charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS In so far as the directors are aware there is no relevant audit information (as defined by section 418 of the Companies Act 2006) of which the charitable company's auditors are unaware and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ON BEHALF OF THE BOARD K Wilson QPM Chair 16 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE LINCOLNSHIRE Y.M.C.A. LTD FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Lincolnshire Y.M.C.A. Ltd (the 'Charity") for the year ended 31 March 2024 which comprise Annual Report and Accounts and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally AC￿pted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the Charity's affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended. have been properly prepared in accordance with United Kingdom Generally AC￿pted Accounting Practice" have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report of the following matters in relation to which the ISAS (UK) require us to report to you where.. the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity's ability to continue to adopt the going concem basis of accounting for a period of at least twelve months from the date when the financial statements are aLrthorised for issue. 17 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE LINCOLNSHIRE Y.M.C.A. LTD FOR THE YEAR ENDED 31 MARCH 2024 Other information The trustees are responsible for the other information. The other information comprises that information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicrtly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audrt of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othenNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfonned, we conclude that there is a material misstatement of this other infomiation, we are required to report thal fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomiation given in the trustees, report (incorporating the strategic report and the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements. and the trustees, report (incorporating the directors, report) have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us., the financial statements are not in agreement with the accounting records and returns., certain disclosures of trustees, remuneration specified by law are not made., or we have not obtained all the infonnation and explanations necessary for the purpose of our audit. 18 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE LINCOLNSHIRE Y.M.CA. LTD FOR THE YEAR ENDED 31 MARCH 2024 Responsibilities of the trustees As explained more fully in the trustees, responsibilities statement set out on page 16, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: we have enquired of those charged with governance around actual and potential litigation and claims. we have reviewed financial statement disclosures and testing to supporting documentation to assess compliance with applicable lav￿ and regulations. we have enquired of staff engaged in the completion of VAT, tax and compliance work to identify any instances of non-compliance with laws and regulations. we have audited the risk of management override of controls including review of journal entries and large or unusual transaction, evaluating the business rationale of any significant transactions outside the course of business. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: Kvrfw.frc.org.uklauditsresponsibilities. This description fonns part of the auditor's report. 19 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE LINCOLNSHIRE Y.M.C.A. LTD FOR THE YEAR ENDED 31 MARCH 2024 Use of our report This report is made solely to the Charity's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Out audit work has been undertaken so that we might state to the Charity's members those matter we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity's members as a body, for our audit work, for this report, or for the opinions VR have formed. Mrs Nicola Michelle Lenton FCCA (Senior Ststutory Auditor) For and on behalf of Dexter & Sharpe Audlt Servlces Llmlted (Statutory Audltor) Rollestone House Bridge Street Homcastle Llncolnshlre LN9 SHZ .1 . 2024 20 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Consolidated Statement of Financial Activlties, including consolidated income & expenditure for the year ended 31 March 2024 Funthb 153.458 $6m2 209.080 89). a Swrt Itn￿￿￿e￿a IOb6.468 21.7ag 10.576 3.C•8.247 2ASO.070 (Y2.￿6 578.602 17S.027 128.12S 331.W8 JC•3.406 227.553 175MS 149.SS6 79m2 311,W 171.ffj9 242.E)7,LI5 32.408 X17,IXS 1,3n 6M7A73 4.807.13J 33,JO• T•x pW• 33,308 200.$4S (921 •ffld lo•• •J12 Z2.fj49 •I12 JJ.) •3f•,828 9.119,634 1124.OQ¥Jl •.301.116 9.307,428 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 21 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Consolidated Balance Sheet as at 31 March 2024 IntaroW a$6ely Tangibb aJW& 12 12 13 11,873 1IM73 17,810 17010 ,W,831 8,4S3M3 8.4*432 8,425.683 8.W704 8.465,677 8.4d8.242 8,443A94 Curr•nt Ag••1• &502 268.638 1.396,670 I.3￿.330 1,287.037 1.836,529 1,804.4 18 1.862.177 1.182 28S.343 1,320.136 1,6(W,841 OetJI￿• Cash all)￿K •nd In haTrJ 14 AMI>￿1￿ due N•1 Cunwt A•••l• Total A•••ts I￿ ¢wmni Wlllh• Cr•dttorn laHmg mor• (m ￿•r 15 656.795 412 182 1.157,880 1.147.621 1.249.995 I.2￿.417 9.62&584 9.813.298 9.696,ZJ7 9,682.911 16 32S,398 42& 428.409> Irund• UnrnslrKted fwKI• 19 3,497,418 3,484.132 3.487,e05 3.474.279 1770 187 1770 187 1770 187 1770 18T 5,28T,8OS 5,254 J19 $257,792 S.244.406 2.W,228 1904226 2.904228 2.904226 1,129,355 1.1￿,356 1.10S.810 1.105,810 Told unrnstrlcled l￿d$ IAY Place capllal 9￿1 Other reslrtded funds ETrJowmenl Totsl Fund• The financial statements were approved by the Board of Trustees on 14th October 2024 and were signed on its behalf by: K Wilson QPM Chair J Henwood FCMA Chair of Finance Committee 22 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Statement of Cash Flows for the year ending 31 March 2024 2024 A> Rutat•d Group Cath wovld•d byl(u••d Inl OP•rnllw aciMII Oi)watkng yt N(mod) Nurnwy Chihlca The Sho*7￿￿ (Indudiry C1*Th￿l Ytyjth WO￿ s￿bp￿t 1.891,2ffi 683.371 136,046 310,486 324.814 151.962 YJ7.065 1.069.118 101.683 130,735 T2.630 29,052 14.526 2,W,376 785.054 286.781 383.096 186.478 307.1)85 57.598 32 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 2024 2023 1,086.610 1.069.118 53.531 1.139.227 1,006,743 47.771 27.652 134.823 433.373 18,604 99.739 118.179 504.549 23,365 76.522 2023 63.385 65.913 Audtsfs remunoralk Tho trthl gov•m•K• cots duth4 Ihe ￿ *YKXrted to E40,49012ffXJ." £W,1401 of £20.573 telal•d to lryal nl olessi￿al fees (2023: £43,884). £11,917 TelatrAI to Kccwils. poydl 4rKI advigory $erilces12023.' £8.256) anrj £8.(K(I was audlth. rmly￿kn (2023.. E8.01)0). 10 TnAt•M' R•rnin•¢•llon and 8•n•fft• TnMlee8' ewponse• ts)l*d £415 lor Ih eTrl•d 31 Mwch 2tr24 (2023 £fMII. The8• expen808 related lo t￿￿1 and was:. 2024 2023 vhest pa*J ernFI0￿* £80.f￿. £W.O 7he CbaTrtie9 SORP IFRS102) •rKJ The St8*FwII ol Re¢(m￿ PractKe for Sowl Pft>viders 2018 exlw Ih Stat￿Ory dofinltkn of dlreclor lo kndwlo ts chkl executtve aTrJ genior t&•m of Ihe Ch8fity. The awtyate an￿￿ThI ol po￿• in rn•pttl ol tho Chlel Exa¢xrtl¥é off￿r and senw)r manageimnl leam n Ihe ar w89 t299.070 (2023.. £276.9561, InckxleJ F*nskn eosts 0116.784 ¢2023.. £18.CKh8) In defiwj u)rthbAw)n 33 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 11 Staff Co4ts 2024 2023 Wages arMJ salarie8 Employer's Nthnal Insurancé Pensl¢)n contribulions 2.780.429 216.796 83.187 3,080.412 2.854,614 205,062 94.214 2,953. Employ•o8 Average number of •mWo>*e8 baaed on hèad¢ounL not FfE. Oncluding part tSma •mployee8) émployed durlffj th• year. 2023 H￿31ftg & Support (Includlng Nomad & R•tall Supp￿) Nu18ery 8fKI Chlldcare The sl￿Wro0M (Indudlty Cllmb&w) Youlh Work Support Maryrr*nt and supwt Olhw CoMm￿lty Ouireach Just UrKolnshlre 43 28 16 21 27 10 24 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 12 TIn￿bI• th•d a•Ml• . Group •nd Company Bulldlng• Bulldthgg lty Pknc• C•WthI Grant 130¢W (NfM)ry Pknnt•nd LwKl•ftd HantWHI Iloudng) 8od*D n*ChIn￿ Iwlkllng• rnthln•ry Co•t At 1 Apll 2023 Addlllong Dlsposals Revaluaiion Recla$slfbC8thJV Trar*hr 4.787.452 $39.3&3 1,097,757 2,￿,(1)0 25,821 601,S48 9,9(O.118 91.784 Al 31 Alav¢h 2024 4830115 $42 863 1123 378 2 900 CI)0 601548 9 997 ￿2 AI 1 Awii 2￿3 Ch•rge for year On dlspos813 Depffecidth￿ Adl. 880.366 59.159 597.320 1.477.686 4.228 At 31 IAarch 2024 939.525 601.546 1.541,071 N•t book val at 31 IAar¢h 2023 4 787.452 $39.383 217,391 2.9fy).oJo 4.226 8.428,432 At 31 Al•r¢h 2024 4.830.11 S 542.863 183.853 2,￿j,C￿0 8,456.831 Freehold land and buildings owned at that time were revalued by J H Walter LLP on 24 April 2018 based on their current market value uplifting the land and buildings value by £363,262. The Charity intends to revalue its property portfolio in 2024125. The freehold social housing properties provide 132 units of accommodation. 35 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charty Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 12 8¢cW Houslng . CW Exp*￿{￿• 2024 2023 62,863 ￿,929 2023 31 2tr24 2,683,S59 2.375,039 2 683 559 2 375039 36 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financlal Ststements for the Year ended 31 March 2024 Al l W23 17.810 At JI 2024 At i 2CfJ 5.937 Ji 2024 5.937 31 IA•rckn 21123 17810 At 31 Mweh 2024 11.8n 37 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Ststements for the Year ended 31 March 2024 Ca•h and Sharm tri Grow> In￿￿Th•fit• P•n IA•￿8t V•lu• At 1 Apiit 2023 Addliion8 At 31 M•rth 2024 There were no investments outside the U.K. Subsidlary Company The Charity owns one ordinary share of a nominal value of £1 in YMCA Trading Company Limited - company number 02802232. This is 100 % of the issued share capital of that company. 38 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 14 Debtorn . Amounts F•Hlng Wkhln On• Ymr 2023 A• rnst•t•d Gmup CrAnp•ny Group Trade Deblor8 Amounls due from gwoup companles prepa￿eftts and accfi￿d 160,579 126.699 98.442 271,4SM) 203.891 161,113 59.482 64.748 271.490 64.747 432,069 4Sfj.631 268,638 285,343 15 ¢rndRorn . Amounts F•lllng Du• Wtthln On• Y•v 2024 2023 cOm￿nY Group Company BAnk108n3 and over(Irafts Tr￿ ryedltors Taxallon and soclal securlty Acc￿81$ and defened In￿me Pension Oefklt YMCA Central reglon Otrter uedllAxs 43.668 133,971 36.300 322.510 43.888 127,850 22.713 320.382 48.8AM 62,489 46.087 67.629 68,661 129.525 32.522 67,758 46,087 62,234 37.536 121,087 32.S22 67.758 82.489 30.￿8 678.649 656,795 412.182 367 224 16 Cf8dttor• . Amoun1• F•lllng Du• Aft•r 1lor• Than On• Y•w 2023 Group Comp•ny Group Comp•ny Bank loans Pmvislons for P•n81on deftdts 276,312 49,086 276.312 49.086 321.793 1[￿.616 321.793 1(%.616 325 398 428 409 The value of bank loans due after more than 5 years is £172,239 (2023: £197,719). Interest payable on these bank loans amounted to £19,466 (2023.. £8,043) Interest payable on these bank loans relating to Social Housing amounted to £13,181 (2023.. £6,656). 39 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charty Number 243017 Notes to the Financial Ststements for the Year ended 31 March 2024 2024 2023 V￿u• NBV v￿￿• NBV 4 Vemrm Slreet NalWe81 tr￿nk lo 160,IXM) 14,928 150.(XX) . charge daled 9 Oclobef 2012 6.420 13&1YXI 15,028 135,(KN) buhJlng8- tharge daled 9 Ocicts 2012 4 Monks Way NatWa8t bank loan securthl on laThl WKI . chwge daknd 31 Cklober 2014 83,1Th 195.0 91.$31 195,QC4) Rasen H(yJga Nalwesl bank loan S6awed on and 225.829 401,493 248,392 401A93 d&ted 12 Awgt 2016 Th• Showroom Ilie uso ol the asset L*ang6 wthln Iho Itle ol the grant agreem￿t. whkth has • further 7 lo run. The vdu• of tho grnnt arno￿ted to £2.SV),O(KJ. 18 L•ulng Aoi••m•nts 2023 Wilhin one ￿8( 91.440 132,887 184,873 297, 40 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notss to the Financial Ststements for the Year ended 31 March 2024 •A•11 1124.IX))) J431 85.9ot 3,OS•Ar 185,9911 iJ324 72.418 1.770.187 .710 1.770.117 102574 247,426 (921 S.￿. 247.426 M1.7¥2 {124.Cth 2.fl)1.2 11,756) iio.1ro} 117.162 2J87 {1￿3) g S•*19 Il•taty* Qt22 ••• F(*￿ty F￿8 073 787 .95?) 121.$01) .122 Wofft•n kn Bu•*** gJ46 1gJ4J} IiAa3J pw) YCAW eAr••A*y PJ79 SW7 &8B7 77.041 429) 42kJ Sts Stymt sthr Fund 2 ItAO 1713 IY13 Fw*O 4,010.038 23ASJ 124.WAI 9.Xll.116 41 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 4.34fi,9 331.709 142TO IB6.NJ> IJ lty gr•nl 20.74 104.1 1'10,170> IX474) g En*rgy IlJhw¥k Od 22 S79 aa&7 127.$16J {I,asiJ .6¥) 49,3) VM3) gfjjl 3.SYJ .no 1(78# JO.63r 20.221 74a 4¥ W￿￿*3 G Iql Str•al F¥n#2 11.9 17tJ 2.711 Ifll.8T2 175,C*I 7.3 175.IA1 .7Qa 14ffi44) 2J.45J .47 42 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charty Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 A•*1 N•t A¥*131 Ilarch 2023 fvnds 3.YJ8298 (S.054) 58,417 1.770.187 (351,922) 129.487 (47,9151 3.175,863 13,324 ll.418 1,770,187 Tfadtrg $uhi1iary Cxher Ccthmw¢*l Trndhig Rev8ttsit￿n reserv• 14,[￿7 11r2.s74 102,S74 247,428 5,381,792 so.L￿O 31,572 5,821.848 1271.828) pl￿ grani 2.￿228 7.414 238.PJ32 2,901,226 6,523 8XJ.322 1891) 614,140 21,489 12.4501 110.2221 114.974) u*ng 129.772 117.162 Le9w Fwd Good PArctk* Mènlo EMTgy SAwng NelKirk OGt 21 8y Sath Ocl 22 Age Frtèryjty Ful￿8• 02N2 Conpj Lkni￿ Compacl Olive HotslbTWJ O Reathlry CoThwwr 48.079 13.818 (40,39JI (10.849) 1.514 973 (921 11,3501 7.889 2,787 1,514 973 1921 8D73 7.025 831 1502611 1488) 135,581) 105.951 2.339 45,428 55.6 9.845 6.089 9,735 1,463 ACREffjEFR4 An9ll4n Water. W•t•r Savlry Cirn Partrnral LCC . Ago F￿1￿Y County Pmgrnftmm CRF . Com￿nN1•1 9,735 IA63 117,3381 12.027) 21263 4.995 (3.9251 LCF Cl￿0￿1• Comrninrty M*irs W•ryn P4¢*• 3.538.788 Y2,8rd 31.5721 4.010,036 TOTAL FUIID8 9.1¢￿,834 ZJ1.194 9.391.828 43 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Flnancial Ststements for the Year ended 31 March 2024 19 Coryaf8tfv*•&y*eM￿t kn Fund• Wlihln one One lo to fve After fvo year After m¢)re Ihan one ar T(*al Al 1131 M8rth 2024 As al 31 Mafth 2023 2.414 1.797 1,797 4,211 47 Lincolnshire Y.M.C.A. Ltd Registered Company Number 00734870 Registered Charity Number 243017 Notes to the Financial Statements for the Year ended 31 March 2024 22 Investment in Subsidiary The Charty owns one ordinary share of nominal value £1 in YMCA Trading Company Limited. This is 100 % of the share capital of that company. The subsidiary is used for non-primary purpose trading activities, namely the conference and catering activities at The Showroom. All activities have been consolidated into generatinglcost of generating funds in the SOFA. A summary of the results of the subsidiary is shown below. 2024 14ofiVlbssl bel¢¥è lax The aggregale of Ihe 886ets. lalxllllw And fuThl• 1S3.$83 117.788 Liabllitss Funds 13.288 23 Net Income of Parant Company As permitted by Section 408 of the Companies Act 2006, thé income and expenditure account of the parent company is not presented as part of these financial statements. 24 Capitsl Commitments 2024 2023 Contracled bul not provKled for in the flnancial 5talements 4,501,507 25 Related Party Transactions Transactions with related parties during the year were as follows:_ Incon*l (Expondltvr•) In tho ypar Débto (Credltor) at 31 March 2024 Conn•ctod pgrlon Detalls of tran•acllon I Sackree- Chalrman of the 808rd Ronl (At Cost) (4,134) The above transactions were made on an anns length basis. 26 Ultimate Controlling Party The Charity is controlled by the Trustees, who are also directors of the Charity. 48