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2021-03-31-accounts

Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

Registered Company Number: 0310342 Registered Charity Number: 243044

NOTTINGHAMSHIRE YMCA

(A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

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CONTENTS

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Pages
Charity Reference and Administrative Details 3
Trustees’ Annual Report (Including Director’s Report and Strategic Report) 4 - 14
Independent Auditor’s Report 15 - 17
Statement of Financial Activities 18 - 19
Group and Company Balance Sheet 20
Group Statement of Cash Flows 21
Notes to the Financial Statements 22 - 51

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CHARITY REFERENCE AND ADMINISTRATIVE DETAILS

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Company registration number 0310342
Charity registration number 243044
Chair Mr M McKeever
Deputy Chair Mr P Murphy
Other Directors and Trustees Ms A Lyons *
Ms A Barbaro Robins*
Ms J Lymn Rose*
Mr C Berens *
Mr N Duckworth*
Mr R W Wakefield (resigned 31 October 2020)*
Executive Committee Mr R W Wakefield (Joint Chief Executive, resigned 31 October
2020)
Mr C Berens (appointed Joint Chief Executive 13 July 2020,
appointed Chief Executive 31 October 2020)
Mrs A Shea (resigned 30 July 2020)
Mr W Kordula (resigned 31 March 2021)
Company Secretary Mr W Kordula (resigned 31 March 2021)
Mr C Berens (appointed 1 April 2021)
Registered office 4 Shakespeare Street
Nottingham
NG1 4FG
Banker HSBC UK Bank PLC
East Midlands Commercial Centre
Donnington Court
Pegasus Business Park
Herald Way
Derby
DE74 2BU
Solicitors Ellis, Fermor and Negus
Market Place
Ripley
Derbyshire
DE5 3BS
Independent Auditor UHY Hacker Young
14 Park Row
Nottingham
NG1 6GR
* Statutory Directors and Trustees

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The Board of management (the Board) submits this report together with the audited financial statements of the Association and its related entities for the year ended 31 March 2021 together with comparative figures for the prior year ended 31 March 2020.

Legal Status

Nottinghamshire YMCA (“The Association”) is a:

Nottinghamshire YMCA was established in 1871 and incorporated on 12 February 1936. The Registered Office and principal address is 4 Shakespeare Street, Nottingham NG1 4FG. Nottinghamshire YMCA is affiliated to YMCA England and Wales.

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.

Principal Activities

Nottinghamshire YMCA charitable objectives focus on social responsibility, youth development and healthy living and it forms part of the YMCA movement worldwide. The Association provides accommodation for vulnerable homeless people as a registered provider. It also provides residential care homes for vulnerable children as well as programmes for children, family and young people to support learning and development, and recreational, cultural and spiritual activities.

Structure, Governance and Management

Governing Document

The Association is a charitable company limited by guarantee, incorporated and registered as a charity (243044). The Association was established under a Memorandum of Association which established the objects and powers of the charitable company 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 £1.

The Association complies with all regulatory standards established by the Regulator of Social Housing and complies with the code of governance as set out by the National Housing Federation. We consider our business plans are adequately funded, that we have sufficient security in place, and we are forecast to meet our financial budgets and covenants.

In 2018, it received consent from the Charities Commission to become a Unitary board, allowing the board members to invite executive members to become board members.

Recruitment and Appointment of Board

The directors of the Association are also charity trustees for the purposes of charity law and under the Association’s Memorandum & Articles are known as members of the Board. Throughout the financial statements they will be referred to as board members.

Board members are recruited through the means of advertisement in appropriate local media and by personal recommendation. Prospective board members make an application and are met on an individual basis by an existing member of the Board and the Chief Executive.

Candidates are interviewed and measured against a skills requirement by a panel of current board members and the Chief Executive. If successful, they attend one or more board meetings as an observer,

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prior to accepting the position and being voted in. Board members are appointed annually at the Annual General Meeting, or in other full board meetings as required.

The Board follows a Diary of Events. The systems and procedures surrounding effective governance are under continual review and methods of monitoring Board membership, skills and diversity have been established. Attendance at board meetings over the past year has averaged 64% (2019: 69%).

Payment of Board Members

No fees or remuneration have been paid to any member or Board member of the Association during the year for their role as board members.

During the year the board members received a total reimbursed expense of £ 3,130 (2020: £547)

Board members induction and training

Most board members are already familiar with the practical work of the Association and may have held positions on the Association Sub-Committees of Executive, Scrutiny, Finance and General Purpose (ESF&GP), Audit or Remuneration prior to joining.

Prospective board members receive an induction from the Chief Executive covering the obligations of Management Committee members, the operational framework for the Association, current financial position and future plans and objectives.

New board members receive the Trustees Handbook induction pack which provides helpful information covering their obligations as Trustees or Management Committee members. Once in position, board members are encouraged to visit different areas of provision, and association staff meetings.

The Association insurance package includes professional liability cover for the trustees of the Association and senior staff.

Organisational Structure

Nottinghamshire YMCA Articles require a Board of between eight and twenty members who meet at least bi-monthly and are responsible for the strategic direction and policy of the Association. During the financial year, the Board had eight members from a variety of professional backgrounds relevant to the work of the Association and recruitment plans are in place to expand this number. The Joint Chief Executives (both members of the Executive Management Team) also sit on the Board but have voting rights explicitly determined by the revised Articles approved.

A scheme of delegation is in place and day-to-day responsibility for the provision of services rests with the Joint Chief Executives, supported by the Executive and Senior Management teams. The Joint Chief Executives are responsible for ensuring that the Association delivers the services specified and that key performance indicators are met.

The Association ensures compliance with Homes & Communities Agency, Companies House and Charity Commission directives.

Public Benefit

We have referred to the guidance on public benefit issued by the Charity Commission and are satisfied that the Association’s activities as described in our review of 2020-21 do provide wider public benefit. Board members consider how planned activities will contribute to the aims and objectives they have set for the Association via review and approval in ESFGP Committee meetings.

Value for money

Value for money (VfM) is considered in all of our activities, including procurement and service delivery and is supported through formalised operational policies and procedures. Our Board audit and challenge plans, processes and transactions in order to ensure we can demonstrate effective and efficient use of

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resources. In line with the regulatory changes in reporting VfM, the required metrics and commentary are included within the Finance review.

REVIEW OF THE YEAR 2020-21

NOTTINGHAMSHIRE YMCA Supported Housing

In assessing the needs of local authorities, local communities and individuals presenting as homeless at our direct access service provisions continue to demonstrate ongoing socio-economic issues and challenges leading to increasing numbers of people requiring temporary supported accommodation. For the 2020-2021 year, Nottinghamshire YMCA experienced a consistent increase in demand for temporary supported housing outstripping its supply.

The need for temporary supported accommodation has remained steadfast throughout the year and our liaison with local authorities and key stakeholders indicates that the need for such accommodation is not likely to diminish in the future.

The Housing Service expanded across Nottingham and Nottinghamshire by a further79 bed spaces bringing the total to 585 bed spaces. Whilst we continue with the strategy of commercially leasing private residential stock for the use of temporary supported accommodation as this an agile way for us to meet the demand, we now have the collateral to buy homes to rent thus increasing our asset base. We continue with our programme of bespoke support services to our residents delivered by the Building Better Opportunities Programme (BBO) and our in-house Social Worker. The team continue to excel in their work of helping residents access the statutory services that they are entitled to guiding them through the Personal Independence Payment (PIP) process. We also fund support roles through many other funding streams (including Lottery, Comic Relief, Rough Sleepers Initiative and Nottingham University) providing bespoke counselling for the most vulnerable.

In addition to the increase to the bed spaces in the city, we continue to expand our service in all our geographical locations aiming to add an additional 80 bedspaces in 2021/22. Going forward the focus is to expand into Foyers and the associated training, confidence building and support into employment for the cohort of 16 to 24 years old. To this end we are working with the Refugee Forum, Wolf Pack and local authorities for commissioning arrangements. We continue to engage with local authorities to deliver support to particularly vulnerable groups in Ashfield and Mansfield

Nottinghamshire YMCA has responded to the COVID- 19 outbreak in a robust manner whilst recognising the cost impact of increased cleaning and the increased provision of sanitisation stations and PPE. The Commissioning team have ensured value for money in contractual arrangements for supplies by engaging in joint commissioning arrangements wherever possible. Whilst we acknowledge that restrictions are easing, particularly for our frontline colleagues we recognise that a risk remains as a keyworker service and regularly monitor and review our approach to risk management and safe working practices.

Children’s Residential Care

The children’s residential care sector has remained constant throughout the year in terms of the number of young children who require the help and intervention of the residential care sector. Whilst often portrayed as a ‘last resort’ for children and young people, a children’s home is frequently the rightful place in which young people can find stability, support, guidance and an environment where they begin to fulfil their full potential.

Nottinghamshire YMCA has continued to provide good quality care to those young people aged 8-17 years who are no longer able to live with their birth or adopted families and have added a further home to its service, bringing the number of overall beds-spaces available to fourteen.

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The strategic plan to expand the service remains in place. However, 2019/2020 provided several challenges to the sector and our service, which saw a fluctuation in our performance and a delay in adding our first home in the Yorkshire region which is envisaged to be operational during FY21.

The service remains strong and viable overall and we have engaged with our stakeholders to continue to understand the local and national requirements. Two of our fourteen beds spaces are now reserved for those children and young people who require therapeutic care. This has allowed for an increase in cost to those bed-spaces commensurate to the value of the additional therapeutic and psychological support.

The service responded to the COVID-19 in a robust manner and followed the guidelines issued by regulatory bodies and Local Authorities.

Children, Young People and Families (CYF)

Childcare and Day Camps

Nottinghamshire YMCA faced severe challenges through the Covid-19 pandemic which affected the delivery of childcare and camps services. Childcare services were closed from April through to June 2020 and reopened for key workers in the Middleton Site only for the Summer Term. Camps were not allowed to run from April to August however a ‘Key Worker Camp’ was set up at YMCA Youth and Community Centre in Aspley which provided 60 places for key worker families and delivered through the same bubble method used in schools. Further YMCA Childcare sites reopened in September, however there was a slow take up to start with which gradually saw numbers increase in the lead up to Christmas. This changed again in January 2021 with the enforcement of another lockdown. The YMCA Childcare sites were once again closed and staff put on furlough.

Youth Services

The programmes in YMCA Youth Services were suspended due to the Covid-19 pandemic from April through to September 2020. In September, the Youth workers were able to deliver remotely to their participants and this continued in January through the second lockdown. Funders have been very understanding with regards to delivery parameters and a significant amount of funding was acquired from Reaching Communities to bring staff back from furlough and set up remote programme delivery. Programmes delivered included HLF, Children in Need as well as several smaller programmes focussed on mental wellbeing.

Family Services

Our Adventure Guides family programme was not delivered through 2020-21 due to the government lockdown and the funders have given an extension to resume delivery of this programme in 2021-22 as the restrictions are lifted.

Health & Fitness

YMCA Gym

Although YMCA Gym faced three temporary closures due to government lockdowns (Mar-Jul 20, Nov 20 and Jan-Apr 21) which affected membership numbers, the service continued to deliver dynamic online fitness classes and daily workout programmes via Zoom and Facebook Live during the pandemic. Recorded online classes were posted to the YMCA Gym community Facebook group page to ensure anyone wishing to stay fit during isolation could access support. Weekly virtual quizzes also helped staff and members feel engaged and supported in maintaining their health and wellbeing.

While the gym was closed, it was energising to see members choosing to donate their membership costs to support our charity’s frontline services during the pandemic, with £2,338 donations received from members. The staff team organised a 2.6 mile walk for members as part of the national ‘Two Point Six Challenge’ to raise funds for Nottinghamshire YMCA’s COVID Youth Homeless appeal. CrossFit 1871

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members also rallied to participate in the global fundraiser ‘Support Your Box’ to raise over £450 for our YMCA.

When able to open, the gym operated in a COVID-safe format by limiting capacity, implementing guidelines (such as masks and social distancing) in addition to suspending in-person fitness classes until it was safe to restart these activities. Outdoor CrossFit 1871 classes were delivered at the YMCA International Community Centre on Mansfield Road. Guidelines helped our members, particularly those who are vulnerable, feel confident about returning, with numerous gym members thanking the charity and saying that ‘YMCA is the safest gym in Nottingham’.

In addition to introducing online fitness coaching through TrueCoach, the launch of a brand new online merchandise shop now means anyone can purchase personalised YMCA Gym and CrossFit branded clothing from the comfort of your own home.

YMCA NEWARK & SHERWOOD

Community and Activity Village (CAV)

The Village facility was closed for long periods due to the Covid-19 pandemic. During the first lockdown, funding was secured from the FCC Communities Foundation to construct a Multi-Use Games Area (MUGA) in order to provide a place to play tennis, netball and basketball at the Village. The construction was undertaken by Charles Lawrence Surfaces and opened to the public in March 2021. The most exciting development during the year was the agreement of the contract to construct the Village Community Building. The contract was agreed with RG Carter construction and signed in December 2020. Building work started on site in February 2021 with a view to completion in Spring 2022.

A number of Head of Terms have been signed with educational and training partners who will be occupying the CAV building, providing services that are synergistic to the CAV facilities and being offered to the local community.

MALT CROSS TRUST

The Malt Cross Trust continues to exist to support the Nottingham Night-Time Economy through its Street Pastor programmes.

However, the year has not been without its challenges. In May 2020, the foul water pump exploded flooding the cave. It is believed that the blockage in the pipework that created the pressure for the blow out may have been caused by the breach of the basement wall and flooding from the Severn Trent water pipe under 14 St James Street. A temporary solution was found through a redirection of all foul water from the pub, allowing for the pub to re-open.

Notwithstanding, Malt Cross Trust has continued to provide Heritage programmes and educational outreach although following the Coronavirus pandemic, all events programmed were suspended, the Music Hall closed and the Street Pastors placed on furlough.

MALTY CROSS LTD

The Covid-19 pandemic has impacted trading significantly. Following government guidance Malty Cross was closed between March and July 2020. Throughout the summer months customers were welcomed back with social distancing measures installed . Updated Covid-19 government guidance resulted in the bar once again closing in October 2020 and prevented the venue from re-opening for the remainder of the financial year. All staff were placed on furlough and the entity applied for grants under the Coronavirus Job Retention Scheme. A new sustainable business model is being developed with a re-opening of the venue scheduled for autumn 2021.

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THE ZONE YOUTH PROJECT

The charity is established to support young people (between 12 -21 years) through educational programmes. The programmes were affected by Covid-19 and the government guidelines severely affected the capability to deliver on these projects. Due to the fact that the majority of the projects were centred around Outdoor Education, the delivery was not possible except for a brief time between October and Christmas 2020.

YMCA YORK AND EAST RIDING

The vision for York and East Riding is to be the provider of choice for young people seeking safe quality supported accommodation as a stepping stone to independence and to be the best they can be. Therefore, we will target homes for the cohort of 16 to 24 year olds to be able to live an independent life yet be supported to realise their full potential through education, training, employment and support (health and wellbeing). YMCA York and East Ridings will work hard to establish good work relationships with the local authorities and partners to address the needs of such young people. The aim is to target areas of deprivation and expand our services by additional supported bedspaces plus the associated community employment and engagement in these neighbourhoods. Our unique ability to supplement the benefits systems with additional funding through charitable causes enables us to to guide individuals through their journey to becoming good contributing members of their communities.

YMCA York and East Ridings already has a 44 bedspace presence in Goole and the team has continued to deliver a housing and support service to all residents throughout the pandemic. The 21 bedspace hostel in Goole is an exemplar of best practice and it is on this basis that the next chapter is to expand into the surrounding cities.

FINANCIAL MANAGEMENT POLICIES

Rents

Rent charges are set each year, in line with Homes & Communities Agency guidelines in tandem with governmental and local authority rent restructuring. The rents and housing budget are reviewed and approved each year by the Board.

Maintenance

All Nottinghamshire YMCA properties are maintained in line with current building regulations and user needs. Planned and preventative maintenance procedures are outlined in the maintenance strategy and detailed in individual maintenance policies which set the required standards, overall timescale and quality the building users may expect.

VAT

Nottinghamshire YMCA is VAT registered and required to charge the relevant rate of VAT on business supplies. Where expenditure is related to non-business activities, such as grant funding, the VAT cannot be recovered. Other related companies (Malt Cross Trust, YMCA Newark and Sherwood, Y Digital Platform Ltd and Malty Cross Ltd) are also VAT registered and charge VAT on all applicable service rendered. Where applicable, any VAT incurred is recovered.

Going Concern

The board members consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements. In note 27, the impact of the recent Covid-19 pandemic on the Group is discussed. Notwithstanding the uncertainties surrounding Covid-19, the Trustees have identified that there is no material impact as to the Association’s ability to continue as a going concern over a period of at least twelve months from the date of approval of the financial statements.

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Restricted reserves

Where restrictive conditions are placed upon any income receivable, it is accounted for within a restricted fund, in accordance with latest SORP recommendations.

Policy on reserves

The board members have examined the requirement for free reserves (referred to as General Reserves in note 21), which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The board members consider that given the nature of the Association’s work and a largely stable income base from housing benefit, it would be appropriate to aim to have 3 months of forecast payroll and associated costs, which equates to approximately £1,500,000 of general funds. At this level, the board members feel that they would be able to continue the current activities of the Association short term in the event of a significant drop in funding, while action is taken to replace the funding or change activities. At present the free reserves of the Association are at an appropriate level. The reserves policy is reviewed on an annual basis.

Statement of Board Members Responsibilities

The board members are responsible for preparing the Report of the Board of Management and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law and Housing Association legislation requires the board members to prepare financial statements for each financial year. Under company law the board members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Association and of the incoming resources and application of resources, including its income and expenditure, of the Association for the year.

In preparing these financial statements the board members are required to:

The board members are responsible for keeping adequate accounting records that are sufficient to show and explain the Association's transactions and disclose with reasonable accuracy at any time the financial position of the Association and enable them to ensure that the financial statements comply with the Companies Act 2006, the Housing Association Act 1996 and the Accounting Direction for Private Registered Providers of Social Housing 2012. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The board members are responsible for the maintenance and integrity of the corporate and financial information included on the Association's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial statements and other information included in annual reports may differ from legislation in other jurisdictions.

Board Members

Board Members, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3.

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Provision of Information to Auditors

Each of the persons who is a board member of the Association at the date of approval of this report confirms that:

Basis of Preparation

This report has been prepared in accordance with the Companies Act 2006 and the Charities Act 2011.

STRATEGIC REPORT

Nottinghamshire YMCA charitable objectives focus on social responsibility, youth development and healthy living and it forms part of the YMCA movement worldwide. The Association provides accommodation for vulnerable homeless people as a registered provider, as well as facilities for learning and development, and recreational, cultural and spiritual activities.

Main Objectives from 2020 and beyond

A five-year business plan and strategy was developed and introduced by the Executive Management Team in conjunction with Board of Directors, Operations Managers and key stakeholder groups during 2017. The Association’s mission and vision remain front and centre across all services and programmes with key priorities focusing on Social Responsibility, Youth Development and Healthy Living.

Key areas for development are:

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We remain fully committed to these objectives.

FINANCIAL REVIEW

Income and Expenditure for the year are set out in the Statement of Financial Activities on page 18.

Principle funding sources continued to be related to Housing and Residential Care, supplemented by the Nottingham City Public Health Contract, SLA agreements with schools, grants from local councils, trusts and the Big Lottery and Comic Relief, and chargeable services provided to the public. Grants are invested into direct support for our users, with specific costs being allocated to support services such as HR, Finance, I.T., Marketing, etc, under a full-cost recovery structure. We are pleased to be able to report a surplus in the 2020/21 financial year.

Our focus continues to be on successful delivery of our core activity of housing, including development of a 5-stage move-on and support model for housing residents by increasing our access to move on properties through lease arrangements with private landlords. This includes taking our tested model and establishing new areas of delivery especially in the east and north of the county.

We continue to seek diversified income streams, to ensure that management and support services costs are contained and to make the planned repayments to clear the mortgage and loans that are secured on our Shakespeare Street property.

This year’s financial statements are consolidated and include the performance of all entities that are related within the NYMCA family.

Financial results and key performance indicators

The Board monitors financial results and key performance indicators at its Board and sub-committee meetings to improve and drive performance and is satisfied with the reasons given by staff on the actual outcomes.

Value for Money

Nottinghamshire YMCA are focussed on ensuring that all resources are managed efficiently to ensure the greatest support for the programmes of aiding vulnerable individuals of our communities. Our annual budget process is robust in ensuring scrutiny of all service, staff levels and all associated costs to ensure focus remains on support being provided and greater level of outcome achieved.

On 4[th] June 2020 the Regulator of Social Housing (RSH) updated the technical guidance for the Value for Money metrics, which are part of the 2018 VfM Standard requirements, and which continue to be a regulatory requirement.

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Regulatory Metrics

RSH
ref Metric 2020 2019
Business Health
6a Operating Margin (Social Housing) 15.6% 13.5%
6b Operating Margin (overall) 3.4% 4.0%
4 EBITDA MRI interest cover 3.52 5.66
Development
2a New supply as % of current units 19.0% 12.8%
2b New supply (non-housing) as % of total units 0.8% 0.0%
3 Gearing (overall) 21.1% 18.8%
Outcomes
1 Reinvestment % 3.4% 16.7%
Effective Management
7 Return on Capital Employed 3.3% 3.1%
Cost per unit
5 Headline social housing cost per unit 11,133 11,360

Commentary

Performance of our Housing division continues to grow as increased stock (reflected in metric 2a) is brought online to support the need being faced by the Association. With added focus on cost control in Housing, the operating margin has improved providing added support financially to the other programmes and areas being undertaken by NYMCA; in particular for our health and leisure division.

Increase in borrowing (and thus servicing costs) during the year in support of the Community and Activity Village (CAV) in Newark and residential care home purchases has led to a decrease in interest cover but NYMCA remains above its covenant levels agreed with Allied Irish Bank. This is also reflective in the overall gearing of the group.

The Group ROCE is reflective of the increased activities in establishing CAV and residential care homes as capital expenditure increases in support of these projects. Both will require time to generate revenue and importantly surplus, with the former expenditure being part of a 3 year capital project totalling £15m and the latter requiring regulatory approval before any placement accepted, which can take up to 6 months.

Headline cost per unit has decreased but is reflective in the fixed nature of support costs required in support of the growth being undertaken and planned.

During the year, the board will continue to review these metrics and ensure their embedding into the business plan review.

Risk Management

The Association has conducted a review of major risks to which the Association is exposed. A risk register has been established which is reviewed and updated by the board at least annually. Where appropriate, systems or procedures have been established to mitigate the risks that the Association faces. Significant external risks to funding have led to the development of a strategic plan, which will allow for

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the diversification of funding and activities. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects with the aim of managing risks at a reasonable level rather than eliminating its existence. The Finance Committee review Internal Control effectiveness throughout the year by taking part in Internal Audits of Finance processes and results.

Procedures are in place to ensure the health and safety of staff, volunteers, clients and visitors to Nottinghamshire YMCA premises. These procedures are periodically reviewed to ensure that they continue to meet the needs of the Association.

We invest in our staff through a comprehensive development program supported by effective performance management, so that we have a highly engaged staff team who are committed to delivering high quality and consistent services across the Association.

Principal Risks and Uncertainties

As with many small businesses, a key focus is in minimising cash flow exposure and in spite of recent improvements in this area the topic continues to be reviewed weekly within the business, and at each finance committee and board meeting.

In addition to this, projected change in housing legislation, welfare reforms and timings in relation to supported exempt accommodation are as yet unclear and this impacts our ability to plan for the medium to longer term. We seek to resolve this by engaging with the discussion process through YMCA England and our local partners and ensuring that our future plans are scenario tested.

Interest rate risk

The Nottinghamshire YMCA is exposed to interest rate risk as a result of bank loans secured on property assets where interest expense is charged based on the Bank of England Base Rate plus a margin. This continues to be favourable whilst the Base Rate remains very low, however, the impact of upward fluctuations in interest rates would adversely impact income.

The Board have looked at several products offered by the bank to provide security against this and decided that where real security was offered the costs were excessive. The EFGP committee continues to review this area as market conditions change. Loan terms were re-negotiated in December 2020.

Approval of the Report of the Board of Management incorporating the strategic report

The Report of the Board of Management incorporating the strategic report has been approved by the Members and signed on behalf of the Board by:

On behalf of the board

Mr M McKeever Chair

29 Sep, 2021 3:25:07 PM GMT+1

Mr P Murphy Deputy Chair

29 Sep, 2021 3:30:18 PM GMT+1

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NOTTINGHAMSHIRE YMCA

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR TO 31 MARCH 2021

__________

Opinion

We have audited the financial statements of Nottinghamshire YMCA (the parent ‘charitable company’) and its subsidiaries (the group) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

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NOTTINGHAMSHIRE YMCA

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR TO 31 MARCH 2021

__________

Other information

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

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on page 10, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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NOTTINGHAMSHIRE YMCA

INDEPENDENT AUDITOR’S REPORT FOR THE YEAR TO 31 MARCH 2021

__________

Auditor's responsibilities for the audit of the financial statements

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

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

Based on our understanding of the charitable company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and the charitable company’s net income for the year.

Audit procedures performed included: review of the financial statement disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, including correspondence, review of correspondence with legal advisors, enquiries of management, and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………….

Roger Merchant FCA Senior Statutory Auditor For and on behalf of UHY Hacker Young Chartered Accountants

Date: ……………………….. 29 September 2021

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NOTTINGHAMSHIRE YMCA

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

__________

FOR THE YEAR ENDED
31 MARCH 2021
Note
Income from:
Income from Charitable
activities:
Housing operations
2
Other operations
2
Total income
Expenditure on:
Expenditure from Charitable
activities:
Housing operations
2
Other Operations
2
Total expenditure
Net operating income
Gain on consolidation
Net income
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2021
Total
2020
Total
£
£
£
7,911,091
445,649
8,356,740
6,702,161
2,737,172
189,045
2,926,217
3,592,085
10,648,263
634,694
11,282,957
10,294,246
6,130,661
363,962
6,494,623
5,655,644
4,379,980
169,292
4,549,272
4,641,273
10,510,641
533,254
11,043,895
10,296,917
137,622
101,440
239,062
(2,671)
-
-
-
-
137,622
101,440
239,062
(2,671)
4,219,844
247,144
4,466,988
4,469,659
4,357,466
348,584
4,706,050
4,466,988

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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NOTTINGHAMSHIRE YMCA

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

__________

FOR THE YEAR ENDED
31 MARCH 2020
Note
Income from:
Income from Charitable
activities:
Housing operations
2
Other operations
2
Total income
Expenditure on:
Expenditure from Charitable
activities:
Housing operations
2
Other Operations
2
Total expenditure
Net operating income
Gain on consolidation
Net income
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2020
Total
2019
Total
£
£
£
6,532,443
169,718
6,702,161
5,387,234
3,237,340
354,745
3,592,085
2,873,274
9,769,783
524,463
10,294,246
8,260,508
5,499,393
156,251
5,655,644
4,657,701
4,368,594
272,679
4,641,273
3,565,930
9,867,987
428,930
10,296,917
8,223,631
(98,204)
95,533
(2,671)
36,877
-
-
-
1,230,572
(98,204)
95,533
(2,671)
1,267,449
4,318,048
151,611
4,469,659
3,202,210
4,219,844
247,144
4,466,988
4,469,659

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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NOTTINGHAMSHIRE YMCA

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR TO 31 MARCH 2021

__________

Note
Fixed assets
Tangible assets
12
Investments
13
Current assets
Stock
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due
within one year
16
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after more than one year
17
Net assets
Charity funds
Restricted
Unrestricted
21
21
Total charity funds		 GROUP
CHARITY
2021
2020
2021
2020
£
£
£
£
11,247,948
9,869,529
9,780,266
8,561,855
550,000
500,000
501,494
501,494		 GROUP
CHARITY
2021
2020
2021
2020
£
£
£
£
11,247,948
9,869,529
9,780,266
8,561,855
550,000
500,000
501,494
501,494
11,797,948
10,369,529
10,281,760
4,776
12,648
-
973,854
1,117,693
1,794,363
6,180,651
979,562
5,897,157		 9,063,349
-
1,417,644
656,189
7,159,281
2,109,903
7,691,520
(1,793,787)
(1,574,061)
(1,675,354)		 2,073,833
(1,398,598)
5,365,494
535,842
6,016,166		 675,235
17,163,442
10,905,371
16,297,926
(12,457,392)
(6,438,383)
(12,452,389)		 9,738,584
(6,322,127)
4,706,050
4,466,988
3,845,537		 3,416,457
348,584
4,357,466
247,144
4,219,844
297,946
3,547,591		 210,481
3,205,979
4,706,050
4,466,988
3,845,537		 3,416,460

The financial statements were approved and authorised for issue by the Board on

Signed on behalf of the board of trustees by:

Mr M McKeever (Chair) Mr P Murphy (Deputy Chair)

Dated: 29 Sept 2021

Registered Company Number: 0310342 Registered Charity Number: 243044

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NOTTINGHAMSHIRE YMCA

STATEMENT OF CASHFLOWS FOR THE YEAR TO 31 MARCH 2018

__________

Note
Cash flow from operating activities
26
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Payments to acquire investments
Proceeds from fixed asset disposals
Grants received to acquire fixed assets
Net cash flow from investing activities
Cash flow from financing activities
New loans
Repayment of loans
Bank interest paid
Net cash flow from financing activities
Movement in cash and cash equivalents
Cash and cash equivalents at 1 April 2020
Cash and cash equivalents at 31 March 2021		 2021
2020
£
£
1,007,072
303,134
1,007,072
303,134
(1,989,998)
(806,462)
(50,000)
238,404
-
2,410,268
237,250
608,674
(569,212)
6,620,000
420,000
(2,948,798)
(276,184)
(85,859)
(44,263)
3,585,373
99,553
5,201,089
(166,523)
979,562
1,146,085
6,180,651
979,562

The notes on pages 22 to 51 form part of these financial statements.

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

(a) General information and basis of preparation

The financial statements of the group are prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102) and the Housing SORP 2018:Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for Private Registered Providers of Social Housing 2019 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (Charities SORP FRS102 2019).

The accounts have been prepared on a going concern basis.

The board has adopted the standards of conduct issued by the Tenant Services Authority which replace Schedule 1 of the Housing Act.

Nottinghamshire YMCA meets the definition of a public benefit entity under FRS 102. The board members consider that the financial statements should be prepared to reflect the Association's aims and to satisfy the different reporting needs of users. Therefore, they have produced a Statement of Financial Activities in addition to the Statement of Comprehensive Income and related notes, which satisfies the reporting requirements above.

The financial statements are prepared in Sterling which is the functional currency of the Association and rounded to the nearest £1.

The consolidation accounts include the trading activities, assets and liabilities of the parent and subsidiary companies (as stated in note 14) in accordance with the Charities SORP. The results of the subsidiaries are consolidated on a line by line basis.

Accounting convention

The financial statements are prepared under the historical cost convention as modified by:

Reference Date

Nottinghamshire YMCA financial statements are prepared for the 12 months to 31 March each year.

(b) Fund accounting

Unrestricted funds

The general reserve represents the cumulative surplus of the net incoming resources for the year. These are available for use at the discretion of the Trustees and furtherance of the general objectives of the Association.

Designated funds

The designated funds are funds set aside by the Trustees of the Association out of unrestricted reserves for specific purposes.

Restricted funds

The restricted funds represent unexpended donations to be spent on specific projects.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

(c) Income

Property income

Property income is recognised when receivable and is derived from lettings of accommodation in the Hostel and move-on houses, rents from shop units and office letting, membership and entrance fees, meals sold during the period and miscellaneous centre activities, net of value added tax and net of lost rent from void properties available for letting.

Grant income

Grants relating to revenue are recognised in income over the same period as the expenditure to which they relate once performance related conditions have been met.

Government grants

Grants received in relation to assets that are presented at deemed cost at the date of transition have been accounted for using the performance model as required by Housing SORP 2014.

Government capital grant income is carried as deferred income in the balance sheet and released to the statement of financial activities on a systematic basis over the useful economic lives of the asset for which it was received. In accordance with Housing SORP 2014 the useful economic life of the housing property structure has been selected (see table of useful economic lives below).

Where social housing grant (SHG) funded property is sold, the grant becomes recyclable and is transferred to a recycled capital grant fund until it is reinvested in a replacement property. If there is no requirement to recycle or repay the grant on disposal of the assets any unamortised grant remaining within creditors is released and recognised as income within the statement of financial activities.

Contractual and Service Level Agreement Income

Service Level Agreement Income may attract VAT depending on the income type and is recognised in line with the provision of the contracted services.

(d) Expenditure

Cost of activities expenditure comprises the costs of providing housing and hostel services, YMCA general activities, the YMCA gym and work focused on children and young people. All expenditure is accounted for on an accrual basis.

Support costs

Support costs comprise costs incurred directly in support of expenditure on the objects of the Association such as HR, Finance & Payroll, IT, Funding & Business Development, Marketing and the Senior Management team, together with the costs associated with meeting the constitutional and statutory requirements of the Association including audit fees and costs linked to the strategic management of the Association.

Management and administration

Management and administration costs represent the expenditure incurred in the operation and management of the Association.

Apportionment of expenses

Employee, administration and operating costs have been apportioned using percentages derived from the Chief Executive’s estimate of utilisation of the various activities.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

(e) Tangible fixed assets

Assets are capitalised where the total value of costs which make up the asset is greater than £2,000, or unless direct funding has been given for capital items, when they will be expensed in the year of income receipt.

Depreciation rates are applied in order to spread the cost or valuation over the estimated useful lives of the assets. The requirements of Component Accounting have been considered and are reflected in these Financial Statements.

The following components are determined and recognised:

Freehold land Not depreciated Freehold buildings 2.5% straight line basis Leasehold Improvements Depreciated over length of lease Furniture, fixtures and equipment 5% - 33% straight line basis Motor vehicles 20% straight line basis

The same depreciation policy is applied for both social housing and non-social housing freehold buildings.

In accordance with the Housing SORP 2014, annual reviews are carried of the useful economic lives of housing properties.

Freehold land and buildings

All freehold land and buildings which are used for social benefit or for use in the business are accounted for as fixed assets.

Mixed use properties

Where properties include areas that are rented out on a commercial basis and not used for social benefit or for use in the business, this element is separated out in accordance with FRS102 and disclosed as investment property which is carried at the deemed market value as determined by management based on discounted expected rental cash flows. No depreciation is provided on this element. Changes in fair value are recognised in income or expenditure.

Improvements to housing properties

Only the portion of expenditure on improvements to existing properties deemed to provide an enhancement is capitalised.

All other maintenance expenditure is classified as revenue and is written-off to the statement of financial activities in the year in which it is incurred. Where we have increased our access to moveon accommodation by leasing additional properties in both City and County all related investment in re-fitting and equipment and furnishings has been charged direct to expenditure in this year.

Assets under construction

For projects that have not yet been completed, the respective costs are accumulated and reported within assets under construction accounts. They are depreciated in line with the Association policy when the project/asset is completed and commissioned.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

(f) Pension costs

Nottinghamshire YMCA participated in a multi-employer defined benefit pension plan for employees of YMCAs in England, Scotland and Wales, which was closed to new members and accruals on 30 April 2007. The Plan’s actuary has advised that it is not possible to separately identify the assets and liabilities relating to Nottinghamshire YMCA for the purposes of accounting disclosure.

As described in note 23, Nottinghamshire YMCA has a contractual obligation to make payments of £33,112 per annum (escalating by 3% each year or in line with the triennial valuation) over the period to April 2029, accordingly this is shown as a liability in these accounts.

In addition, Nottinghamshire YMCA is required to contribute £7,836 per annum (escalating by 3% each year or in line with the triennial valuation) to the operating expenses of the Pension Plan and these costs are charged to the Statement of Financial Activities as made.

The Association group personal pension plan (defined contribution scheme with employer match of employee contributions to a maximum of 8%) for all employees with six months continuous employment was closed in March 2014.

This was replaced in April 2015 by a new defined contribution scheme open to all employees, and in line with our auto-enrolment responsibilities and timetable, although employee contributions of 1% are matched by an improved employer contribution of 3% rather than the legislated 1%. Contributions payable are charged to the statement of financial activities in the year.

(g) Hire purchase contracts and finance leases

Assets obtained under finance leases and hire purchase contracts are capitalised at their fair value on acquisition and depreciated over their estimated useful lives. The finance charges are allocated over the period of the lease in proportion to the capital element outstanding.

(h) Operating leases

Rentals paid under operating leases are charged to the statement of financial activities over the period they are incurred.

(i) Taxation

Taxation has not been provided on the net income for the year on the grounds that Part 11 of the Corporation Tax Act 2010 applies (tax exemption for charitable companies).

(j) Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the key judgements have been made in respect of the following:

Tangible fixed assets and investment property

Tangible fixed assets, other than investment property element of mixed-use properties, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

For housing property assets, the assets are broken down into components based on management’s assessment of the properties. Individual useful economic lives are assigned to these components.

Where properties include areas that are rented out on a commercial basis and not used for social benefit or for use in the business, an estimate of this element is separated out in accordance with FRS102 and disclosed as investment property which is carried at the deemed market value. There is an inevitable degree of judgement involved in that each property is unique, cash flows are uncertain, and value can only ultimately be reliably tested in the market itself.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

(k) Stock

Stocks are valued at the lower of cost and net realisable value, after making due-allowance for obsolete and slow moving items.

The Group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

2 Total income and resources explained

Expenditure
People related
Other
Support costs
Management & administration
Personnel
IT, Marketing/funding
Total expenditure 5
Net incoming / (outgoing) resources
Note
Income 3,4		 2,417,530
3,428,819
5,846,349
5,507,338
2,601,671
717,743
3,319,414
3,065,870
875,426
238,953
1,114,379
1,108,437
207,618
56,655
264,273
147,729
392,378
107,102
499,480
467,543
Housing
£
Other
£
Total
2021
£
Total
2020
£
8,356,740
2,926,217 11,282,957 10,294,246
6,494,623
4,549,272 11,043,895
10,296,917
1,862,117
( 1,623,055 )
239,062
(2,671)

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

3 Income from housing operations

Gross rents receivable
Less: rent losses from voids
Other grants
Other income		 2021
2020
£
£
8,241,162
6,804,993
(330,070)
(272,550)
7,911,091
6,532,443
445,649
169,718
-
-
8,356,740
6,702,161

Grant income comes mainly from Building Better Opportunities and Sports England, to support life skill development and training programmes for housing residents. Funding is recognised in the accounts in accordance with FRS 102.

4 Income from other operations

Health and fitness
Children’s services
Residential care
Furlough grant income
Other		 2021
£
84,059
494,559
1,577,417
545,996
224,186
2,926,217		 2020
£
256,894
758,567
1,256,723
-
1,319,901
3,592,085

Income from other operations was £ 2,926,217 (2020: £3,592,085) of which £189,045 (2020: £354,745) was attributable to restricted and £ 2,737,172 (2020: £3,237,340) was attributable to unrestricted funds.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

5
Expenditure on housing operations
People related
Management and administration
Personnel
IT, marketing/funding
Depreciation
Routine maintenance
Bad debts (rent losses)
Occupancy costs(rent and utilities)
Resident related expenditure
Other
6
Housing stock
Number of bed spaces at end of the year		 2021
£
2,417,530
875,426
207,618
392,378
81,346
257,572
334,995
1,711,599
104,126
112,033
6,494,623
2021
£
585
585		 2020
£
2,206,204
810,188
109,369
341,740
86,739
282,350
88,602
1,281,559
152,637
296,256
5,655,644
2020
£
494
494

Our increase in bed spaces resulted mainly from additional leased properties in Nottingham. All bed spaces are for social housing and are used for a variety of target areas. Not included in the 2019 totals are an additional 24 bed spaces relating to a management contract in Mansfield on behalf of YMCA England, who is the registered provider. In April 2019, this hostel was purchased by Nottinghamshire YMCA from YMCA England & Wales.

7 Net incoming resources for the year

Net incoming resources for the year
2021 2020
Net resources are stated after charging/(crediting): £ £
Depreciation of tangible fixed assets 378,004 356,944
Depreciation of capital grants (93,668) (94,924)
Auditors’ remuneration 23,150 20,948
Operating leases – property rental 991,980 832,823
Operating leases – rentals received (66,121) (66,251)
Rent losses from bad debts 334,995
 88,602

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

8 Employees and Key management personnel

Employee costs compromise:
Wages and salaries
Social security costs
Pension costs		 2021
£
5,255,160
430,395
198,401
5,883,956		 2020
£
4,943,678
392,101
169,669
5,505,448

The pension costs include £198,401 (2020: £169,669) in relation to the defined contribution scheme.

The average number of persons employed by the Association, where the full-time equivalents are calculated based on a standard working week of 37.5 hours are as follows:

Total head count
Total full-time equivalents		 2021
Number
267
198		 2020
Number
208
177

In addition to the numbers above, Nottinghamshire YMCA also appoints relief and casual staff throughout the year in line with business requirements. These amount to an average additional head count of 54 (2020: 20).

The ratio between the lowest paid member of contracted staff as at 31 March 2021 against the highest paid member of contracted staff is 6.8:1 (2020: 6.1:1). The ratio between the lowest paid member of contracted staff over the age of 21 as at 31 March 2021 against the highest paid member of contracted staff for the same period is 6.4:1 (2020: 6.1:1).

The full-time equivalent number of staff who received remuneration within each banding are totalled below (including directors):

2021 2020
Number Number
£60,001 to £70,000 2 2
£70,001 to £80,000 - 1
£100,001 to £110,000 - 2
£110,001 to £120,000 1 -
£120,001 to £130,000 1 -

Board Meeting 15 September 2021-15/09/21

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

8 Employees and Key management personnel (continued)

Key management personnel’s remuneration:

The Accounting Directive for Private Registered Providers of Social Housing 2015 extends the statutory definition of “director” to include the Chief Executive and any other person who is a member of the senior management team, or its equivalent, of a registered provider.

Key management personnel is deemed to be the executive management team of the Association, including the Chief Executive Officer, Chief Operations Officer, Chief Financial Officer and the Chief HR Officer.

Basic salary
Benefits in kind
Pension contributions		 2021
£
385,894
739
16,253
402,886		 2020
£
393,212
988
32,820
427,020

The current Chief Executive had contributions made to a private defined contribution pension scheme of £nil (2020: former Chief Executive £16,841) by the Association. He is a member of the ordinary pension scheme of the Association and no enhanced or special terms apply, with contribution of £4,600 (2020: former Chief Executive £3,135) paid by the Association.

The emoluments of the highest paid employee, the Chief Finance Officer, excluding pension contributions and benefits in kind were £ 123,269 (2020: £104,763).

Trustees’ remuneration and expenses:

The trustees neither received nor waived any remuneration during the year (2020: nil).

The trustees did have expenses reimbursed during the year totalling £nil (2020: £547).

In calculating net resources no account is taken in the Association’s expenditure of any amount which would recognise the extensive skilled management services provided free of charge by Association members and volunteers. Accordingly, the Board wishes to express its gratitude for both the time and energy of its volunteer members during the year.

9 Interest payable and similar charges

Bank interest 2021
£
159,744
159,744		 2020
£
102,755
102,755

Board Meeting 15 September 2021-15/09/21

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

10 Related parties (Nottinghamshire YMCA)

There have been a number of transactions throughout the year with The Zone Youth Project Limited (“The Zone”), a related charity through common management. These transactions were for management fees for support services of £897 (2020: £1,743) and staff salaries expense and delivery recharges of £924 (2020: £28,635). At the year-end a balance of £406 (2020: £406) was owed by The Zone to Nottinghamshire YMCA.

There have been a number of transactions throughout the year with York and East Riding YMCA (“YERYMCA”), a related charity through common management in relation to income and expenditure following the transfer of ownership of the hostel. At the year-end a balance of £3,533 (2020: £6,816) was owed from YERYMCA to Nottinghamshire YMCA.

There have been a number of transactions throughout the year with YMCA Newark and Sherwood (“YMCAN&S”), a related charity through common management. These relate to the management of and expenditure in the completed facilities (phase 1) of the Community and Activity Village. At the year-end a balance of £398,322 (2020: £196,095) was owed from YMCAN&S to Nottinghamshire YMCA

There have been a number of transactions throughout the year with Malt Cross Trust Company (“MTC”), a related charity through common management. These transactions relate to the period following transfer of control and in relation to the establishment of sound financial footing. At the year-end a balance of £487,179 (2020: £165,031) was owed from MCT to Nottinghamshire YMCA

There have been a number of transactions throughout the year with Malty Cross (“MyC”), a wholly owned subsidiary. These transactions related to the start-up costs incurred. At the year-end a balance of £621 (2020: £3,378 owed by MyC) was owed to MyC by Nottinghamshire YMCA

11 Members

The Association is incorporated as a company limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute a sum of not more than £1 in the event of the Association being wound up. At 31 March 2021 there were 8 members. (2020: 8 members).

Board Meeting 15 September 2021-15/09/21

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

12 Tangible fixed assets

Group
Cost or valuation:
At 1 April 2020
Additions
Disposals
Transfer
At 31 March 2021
Depreciation:
At 1 April 2020
Charge for the year
Eliminated on
disposal
At 31 March 2021
Net book value:
At 31 March 2021
At 31 March 2020
Charity
Cost or valuation:
At 1 April 2020
Additions
Disposal
Transfer
At 31 March 2021
Depreciation:
At 1 April 2020
Charge for the year
Eliminated on
disposal
At 31 March 2021
Net book value:
At 31 March 2021
At 31 March 2020		 Freehold land
& buildings
(social
housing)
Freehold
land &
buildings
(non-
housing)
£
£
4,354,064
5,309,573
-
205,961
-
(244,792)
-
283,722		 Freehold land
& buildings
(social
housing)
Freehold
land &
buildings
(non-
housing)
£
£
4,354,064
5,309,573
-
205,961
-
(244,792)
-
283,722		 Fixtures
and
fittings
£
1,041,302
-
-
-		 Fixtures
and
fittings
£
1,041,302
-
-
-		 Furniture
& other
equipment
£
877,968
32,990
-
-		 Furniture
& other
equipment
£
877,968
32,990
-
-		 Motor
Vehicles
Assets
under
constru-
ction
Total
£
£
£
38,411
1,713,555
13,334,873
14,420
1,736,627
1,989,998
-
-
(244,792)
-
(283,722)
-
4,354,064
5,554,464		 1,041,302 910,958 52,831
3,166,460
15,080,079
1,670,107
301,205
114,715
145,980
-
(11,217)		 831,498
35,739
-		 633,956
77,458
-		 28,578
-
3,465,344
4,112
-
378,004
-
-
(11,217)
1,784,822
435,968		 867,237 711,414 32,690
-
3,832,131
2,569,242
5,118,496		 174,065 199,544 20,141
3,166,460
11,247,948
2,683,957
5,008,368		 209,804 244,012 9,833
1,713,555
9,869,529
Freehold
land &
buildings
(social
housing)
Freehold
land &
buildings
(non-
housing)
£
£
4,354,064
4,055,636
-
-
-
(244,792)
-
283,722		 Fixtures
and
fittings
£
1,041,302
-
-
-		 Furniture &
other
equipment
£
695,234
23,456
-
-		 Motor
Vehicles
Assets
under
constru-
ction
Total
£
£
£
38,411
1,713,555
11,898,202
14,420
1,736,627
1,774,503
-
-
(244,792)
-
(283,722)
-
52,831
3,166,460
13,427,913
28,578
-
3,336,347
4,112
-
322,520
-
-
(11,219)
32,690
-
3,647,647
20,141
3,166,460
9,780,266
9,833
1,713,555
8,561,855
4,354,064
4,094,565		 1,041,302 718,690
1,670,107
246,968
114,715
118,766
-
(11,219)		 831,498
35,739
-		 559,195
49,188
-
1,784,821
354,515		 867,237 608,383
2,569,243
3,740,051		 174,065 110,307
2,683,958
3,808,668		 209,804 136,039

Board Meeting 15 September 2021-15/09/21

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

12 Tangible fixed assets (continued)

Freehold properties are used for Social housing (125 beds) as well as the management of the Association.

Freehold land & building includes £1k of leasehold improvement costs associated with Melbourne Park as well as £3,139k of development costs associated with the Community and Activity Village in Newark.

The freehold properties held have been given as security against the bank loans.

The transitional arrangements of FRS15 were adopted in the case of assets included within freehold land and buildings where the valuation of £1,050,000 has not been updated since 24 June 1997 when a Chartered Surveyor valued the freehold property on an open market value basis. The Association is not continuing the revaluation policy relating to these assets. The freehold land and buildings valuation is based on a professional valuation as at 24 June 1997 plus the cost of additions, and less amortisation since that date. In March 2015 land and buildings were independently re-valued at £7,588,000. The difference between that market value and the book value of the land and buildings is £4,867,059.

The Executive Management Team undertakes annual reviews of the useful economic lives of housing properties to confirm that no adjustment to depreciation rates is required.

If stated under historical cost principles, the comparable amounts for freehold land and buildings would be:

Cost
Accumulated depreciation
Social housing - Expenditure on works to existing properties:
Amounts capitalised
Amounts charged to the Statement of Financial Activities		 2021
£
7,788,431
(1,695,040)
6,093,391
2021
£
13,238
160,852
174,090		 2020
£
7,543,541
(1,498,765)
6,044,776
2020
£
92,315
54,970
147,285

The total does not include cost of maintenance, staff labour or overheads.

Board Meeting 15 September 2021-15/09/21

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

12 Tangible fixed assets (continued)

Social housing assistance
Accumulated social housing grants received/receivable at 31 March
Amounts released to the Statement of Financial Activities at 31 March
Total amounts held within deferred capital grants
13
Fixed asset investments
Investment property
Carrying amount at 1 April 2020
Additions
Carrying amount at 31 March 2021		 2021
£
1,354,936
(405,453)
949,483
Group and
2021
£
500,000
50,000
550,000		 2020
£
1,354,936
(368,335)
986,601
Charity
2020
£
500,000
-
500,000

All investment property relates to the “investment property element” of mixed-use property.

The investment property element of the mixed-use property was valued by FHP Property consultants at its estimated fair value for accounting purposes as at 31 March 2015.

In the opinion of the directors of the Association, this valuation is still appropriate as at 31 March 2021.

14 Subsidiaries

Details of the Associations subsidiaries at the 31 March 2021 are as follows:

Name of Registered Nature of business Class of % held
undertaking Office/Number shares held (direct)
YMCA Newark and Sherwood* UK / 11208210 Charity N/A N/A
York and East Riding Y.M.C.A. UK/ 03863341 Charity N/A N/A
Limited*
Malt Cross Trust Company UK/ 3228965 Charity N/A N/A
The Zone Youth Project* UK/ 04372414 Charity N/A N/A
Y Digital Platform Ltd UK/11041776 Dormant company Ordinary 100%
Malty Cross Ltd UK/ 11523743 Public House Ordinary 100%

**Note: *** indicates the subsidiaries that are exempt from the requirements of the Companies Act 2006 in relation to the audit of their respective financial statements under section 479A of the Companies Act 2006. All marked subsidiaries have been provided with a group guarantee.

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NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

15 Debtors: amounts falling due within one year

Rental debtors
Trade debtors
Bad debt provision
Prepayments and accrued income
Intercompany
Other debtors		 Group
Charity
2021
2020
2021
2020
£
£
£
£
767,281
624,952
767,281
624,952
177,537
255,606
168,474
230,985
(559,200)
(419,339)
(559,200)
(419,339)
531,480
430,734
528,989
409,687
-
-
888,819
371,726
56,756
225,740
-
199,633		 Group
Charity
2021
2020
2021
2020
£
£
£
£
767,281
624,952
767,281
624,952
177,537
255,606
168,474
230,985
(559,200)
(419,339)
(559,200)
(419,339)
531,480
430,734
528,989
409,687
-
-
888,819
371,726
56,756
225,740
-
199,633
973,854
1,117,693
1,794,363		 1,417,644

Rental debtors represent housing debt due from residents, Nottingham City Council & Mansfield District Council as at 31 March 2021. Rental arrears over 3 months old, in relation to housing provision have been expensed as per note 7.

Included within Intercompany is a loan to Malt Cross Trust Company. Repayment of this loan commenced in February 2021, being monthly repayments of £1,686 (including interest) over 20 years. The amount due over one year is £303,891.

16 Creditors: amounts falling due within one year

Note
Bank loans
18
Trade creditors
Taxation and social security
Accruals
Scholarships/Bursaries
Deferred capital grant
Contractual pension scheme creditor
Other Creditors		 Group
Charity
2021
2020
2021
2020
£
£
£
£
38,008
185,886
38,008
179,715
867,364
525,356
821,818
432,356
(44,092)
99,020
(51,107)
89,866
582,739
423,347
545,697
359,116
130,164
136,042
104,837
127,852
93,668
96,226
93,668
95,622
33,112
59,301
33,112
59,301
92,824
48,883
89,321
54,770		 Group
Charity
2021
2020
2021
2020
£
£
£
£
38,008
185,886
38,008
179,715
867,364
525,356
821,818
432,356
(44,092)
99,020
(51,107)
89,866
582,739
423,347
545,697
359,116
130,164
136,042
104,837
127,852
93,668
96,226
93,668
95,622
33,112
59,301
33,112
59,301
92,824
48,883
89,321
54,770
1,793,787
1,574,061
1,675,354		 1,398,598

Board Meeting 15 September 2021-15/09/21

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

17 Creditors: amounts falling due after more than one year

Note
Bank loans
18
Other loans
Deferred capital grant
Contractual pension scheme creditor
22		 Group
Charity
2021
2020
2021
2020
£
£
£
£
6,581,992
2,880,339
6,581,992
2,769,083
5,000
5,000
-
-
5,657,418
3,338,861
5,657,415
3,338,860
212,982
214,183
212,982
214,183		 Group
Charity
2021
2020
2021
2020
£
£
£
£
6,581,992
2,880,339
6,581,992
2,769,083
5,000
5,000
-
-
5,657,418
3,338,861
5,657,415
3,338,860
212,982
214,183
212,982
214,183
12,457,392
6,438,383
12,452,389		 6,322,127

The gross amounts of the deferred capital grant creditor are:

Social housing
Other assets		 2021
£
1,354,936
4,921,587
6,276,523		 2020
£
1,354,936
2,511,319
3,866,255

18 Analysis of loan repayments

Bank loans
Due in one year or less
Due between one to two years
Due between two to five years
Due after more than five years		 Group
Charity
2021
2020
2020
2020
£
£
£
£
38,008
185,886
38,008
179,715
153,137
188,257
153,137
181,850
481,862
579,780
481,862
559,056
5,591,993
2,112,302
5,946,993
2,028,177		 Group
Charity
2021
2020
2020
2020
£
£
£
£
38,008
185,886
38,008
179,715
153,137
188,257
153,137
181,850
481,862
579,780
481,862
559,056
5,591,993
2,112,302
5,946,993
2,028,177
6,620,000
3,066,255
6,620,000		 2,948,798

Bank loan 1 – Facility A with Triodos Bank UK Ltd

A loan of £3.62m was taken out to refinance existing debt with AIB Group (UK) plc, and to make additional investments in property. Repayment of the bank loan will commence in January 2022, with 228 monthly payments. The interest rate is Bank of England Base Rate + 2.4%, payable monthly in arrears. This loan is secured on the freehold property of the Association, a fixed and floating charge over all the assets and undertakings of the Association, plus a guarantee from YMCA Newark and Sherwood.

Bank loan 2 – Facilities B and C with Triodos Bank UK Ltd

Additional borrowing of up to £6.75m has been arranged with Triodos to complete the build of the Community Activity Village in Newark, but to date none has been drawn down.

Board Meeting 15 September 2021-15/09/21

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

18 Analysis of loan repayments (continued)

Investment bonds arranged by Triodos Bank UK Ltd

£3m of funding was obtained by the issuance of unsecured fixed rate bonds, arranged by Triodos Bank, to a variety of institutional and personal investors. This is repayable in full on 28 February 2027. Interest is payable annually in arrears, and is charged at a fixed rate of 6.0%.

19 Financial Instruments

Financial Instruments
Carrying amount of financial assets
Debt instruments measured at amortised
cost
Carrying amount of financial liabilities
Measured at amortised cost		 Group
Charity
2021
2020
2021
2020
£
£
£
£
992,375
1,186,959
1,837,494
1,509,452
13,533,274
7,448,091
13,477,209		 7,354,171

20 Analysis of Group assets and liabilities between funds

Fixed assets
Investments
Debtors
Cash at bank
Creditors (<1 year)
Creditors (>1 year)		 Restricted
funds
Unrestricted
funds
Designated
- Property
Designated
– Major
repairs
Designated -
Revaluation
Total at
31 March
2021
£
£
£
£
£
£
-
313,435
10,539,866
-
394,647
11,247,948
-
50,000
500,000
-
-
550,000
-
978,630
-
-
-
978,630
348,584
5,377,427
-
454,640
-
6,180,651
-
(1,662,110)
(131,677)
-
- (1,793,787)
-
(3,217,986)
(9,239,406)
-
- (12,457,392)
348,584
1,839,396
1,668,783
454,640
394,647
4,706,050

Board Meeting 15 September 2021-15/09/21

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

20 Analysis of Group assets and liabilities between funds (continued)

Fixed assets
Investments
Debtors
Cash at bank
Creditors (<1 year)
Creditors (>1 year)		 Restricted
funds
Unrestricted
funds
Designated
- Property
Designated
– Major
repairs
Designated -
Revaluation
Total at
31 March
2020
£
£
£
£
£
£
-
2,084,925
7,336,755
-
447,849
9,869,529
-
-
500,000
-
-
500,000
-
809,089
-
321,250
-
1,130,339
247,144
287,415
-
445,000
-
979,562
-
(1,324,995)
(249,066)
-
-
(1,574,061)
-
(758,998)
(5,679,383)
-
-
(6,438,381)
247,144
1,097,436
1,908,306
766,250
447,849
4,466,988

Board Meeting 15 September 2021-15/09/21

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

21 Analysis of funds

Unrestricted
General reserve
Designated
Major repair reserve
Property reserve
Revaluation reserve
Total designated funds
Total unrestricted funds
Restricted:
BBO		 As at 1
April
2019
Incoming
Resources
£
£
2,022,784
9,769,784
451,240
-
1,344,649
-
499,375
-		 Outgoing
Resources
Transfers
As at 1
April
2020
Incoming
Resources
Outgoing
Resources
£
£
£
£
£
(9,867,988)
(827,142)
1,097,439
10,648,263
(10,510,641)		 Transfers
As at 31
March
2021
£
£
604,335
1,839,396
-
315,010
766,250
-
-
-
563,658
1,908,306
-
(51,526)
447,849
-
-		 (311,610)
454,640
(239,523)
1,668,783
(53,202)
394,647
2,295,264
-		 -
-
3,122,405
-
-		 (604,335)
2,518,070
4,318,048
9,769,784
10,458
146,693		 (9,867,988)
-
4,219,844
10,648,263
(10,510,641)
(131,573)
-
25,577
141,647
( 142,425 )		 -
4,357,466
-
24,799
Comic Relief 1,277
-		 -
-
1,278
-
( 1,278 )		 -
-
Adventure Guides 27,550
80,599		 (62,319)
-
45,830
-
-
-
45,830
Youth Music – YC 20,432
14,691		 (38,956)
-
(3,833)
9,794
( 2,021 )		 -
3,940
Children in Need 7,131
31,564		 (37,663)
-
1,032
7,933
( 1,337 )		 -
7,628
Children in Need 7,036
9,683		 (14,352)
-
2,367
1,750
( 924 )		 -
3,193
Garfield Weston - -
-		 -
-
Sports England Grant 26,257
23,024		 (21,565)
-
27,716
55,417
( 61,418 )		 -
21,715
Youth Music – YP 20,313 (20,313)
-
-
1,000
( 110 )		 -
890
Big Lottery Grant 9,998 (3,917)
-
6,081
-
( 413 )		 -
5,668
Charitable Giving Grant 4,557 -
4,557
-
( 3,985 )		 -
572
Hearts Global Funding 4,784 (3,113)
1,671
-
( 600 )		 -
1,071
A&Hope Pilkington Trust -
5,000		 -
5,000
-
-		 -
5,000
HLF -
19,600		 (9,858)
-
9,742
-
( 5,641 )		 -
4,101
Onside -
4,402		 (2,801)
-
1,601
-
-		 -
1,601
Other -
31,460		 -
-
31,460
-
(25,000)		 -
6,460
Charity Projects -
32,400		 -
-
32,400
100,237
( 114,965 )		 -
17,672
Youth Music Newark -
26,997		 (6,630)
-
20,367
-
( 8,599 )		 -
11,768
Awards for all (Goole) 3,222
10,049		 (4,500)
-
8,771
-
-		 -
8,771
Awards for all (Zone) 9,866
-		 (9,721)
-
145
-
-		 -
145
Street Pastors (12,849)
55,255		 (49,902)
-
(7,496)
42,163
( 41,812 )		 -
( 7,145 )
Peoples Postcode Lottery 1,371
-		 (1,371)
-
-
-
-		 -
-
Doing Good grant -
-		 -
-
-
-
-		 -
-
1986 J Charitable Trust 2,804
-		 (1,575)
-
1,229
1,229
-
-
2,458
Open Gate Trust 2,804
-		 -
-
2,804
-
-		 -
2,804
Freemason Trust 1,000
-		 (1,000)
-
-
-
-		 -
-
Gray Trust 600
-		 -
-
600
-
-		 -
600
Lord Barnaby Trust 3,000
-		 -
-
3,000
-
-		 -
3,000
Clothworker Foundation -
5,700		 (5,700)
-
-
-
-		 -
-
DB Memorial trust -
5,000		 -
-
5,000
-
-		 -
5,000
Sir John Eastwood -
1,000		 -
-
1,000
-
-		 -
1,000
Mohn westlake -
4,250		 -
-
4,250
-
-		 -
4,250

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

GVC Fund -
5,000		 -
-
5,000
-
-		 -
5,000
Awards for all -
9,995		 -
-
9,995
11,568
-
-
21,563
The Fifty Fund -
1,100		 (1,100)
-
-
-
-		 -
-
Charles Littlewood -
1,000		 (1,000)
-
-
-
-		 -
-
YMCA Eng
Roomsponsor Grant		 -
-		 -
-
-
1,634
-
-
1,634

Multiple Complex Needs
Grant (City)		 -
-		 -
-
-
30,615
( 9,510 )		 -
21,105
MDC Rent Deposit
Scheme		 -
-		 -
-
-
10,000
( 790 )		 -
9,210

Young Peoples Fund		 -
-		 -
-
-
2,300
-
-
2,300

Reaching Communities
Covid relief		 -
-		 -
-
-
100,833
( 75,186 )		 -
25,647
Y Girls -
-		 -
-
-
2,795
-
-
2,795
Youth - J N Derbyshire
Trust Charity		 -
-		 -
-
-
8,479
( 8,250 )		 -
229

Morrisons Foundation
Grant for Mansfield
(Covid)		 -
-		 -
-
-
7,000
( 1,800 )		 -
5,200
Capitol Park Grant -
Goole (Covid)		 -
-		 -
-
-
1,500
-
-
1,500

Comic Relief		 -
-		 -
-
-
32,000
( 3,282 )		 -
28,718
Comic Relief - Ahead of
the Game
Total restricted funds
Total funds		 -
-		 -
-
-
64,800
( 23,908 )		 -
40,892
151,611
424,856		 (348,856)
-
247,144
634,694
(533,254)		 -
348,584
4,469,659
10,294,246		 (10,296,917)
-
4,466,988
11,282,957
(11,043,895)		 -
4,706,050

Designated funds

Designated reserves are allocated into funds which reflect the ongoing expected use.

Major repairs reserve

The repairs designated fund reflects our latest assessment of the work which may be required over the coming period to maintain our buildings, including our supported housing and residential homes, and meet our commitment to providing a high standard of accommodation for all our residents.

The repairs reserve includes: £228,790 for the refurbishment and repair of the Shakespeare Street hostel including: external works to the roof and windows, sub-basement works, and resident room upgrades; £62,000 for renovations and refurbishments at The Malt Cross building including conversion of areas into workspaces; £72,300 for refurbishment and repairs at the International Community Centre building including decorating, ventilation and heating works; £42,500 for room upgrades at Edinburgh Court hostel in Goole; £49,050 for refurbishments of the Mansfield hostel.

Property reserve

The carrying value of the property (the freehold land and buildings) has been designated being the asset value less the related mortgage and revaluation reserve as well as related deferred capital grants. The property is a fundamental asset of the Association and supports a large proportion of the ongoing programmes. Our property assets were independently valued in 2014 at £7.9million which is significantly in excess of the current carrying value on the balance sheet.

Revaluation reserve

This is required for separate disclosure by Companies Act. The transfer in the year relates to the depreciation on the revalued asset.

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21 Analysis of funds (continued)

Restricted reserves

Income receivable with restrictive conditions accounted for, in accordance with latest SORP recommendations, within a restricted fund.

Building Better Opportunities (BBO)

BBO is a Big Lottery match funded programme delivered across the D2N2 (Derby, Derbyshire, Nottingham, Nottinghamshire) LEP, working with some of the more disadvantaged communities across the area to help them progress into training and employment. The programme focuses on 4 areas of support which are delivered in partnership with other providers:

BBO Framework (Navigator) - We are working in partnership with Framework Housing Association to identify and work with those people who are affected by ‘multiple and complex needs’ (substance misuse, homelessness, mental health needs and ex-offending), supporting them to move out of poverty, unemployment and economic inactivity and to tackle one or more of their underlying needs.

BBO Framework (Personal Budgets) - Working in partnership with Framework and the other BBO providers, we are providing support to other organisations across Nottingham and Nottinghamshire looking to conduct assessments for personal budgets through Adult Health and Social Care.

BBO Advice Nottingham - This project works with St Anns Advice Nottingham aims to provide support to those people that are financially excluded in order to improve their financial management skills, thus addressing one contributory factor to social exclusion and poverty. This is provided through bespoke one to one support and group sessions.

Comic Relief

This funding is to support our young residents through the provision of a qualified therapeutic counsellor who will provide 1-2-1 and group support for our residents as well as create a ‘Psychologically Informed Environment’ for our hostel and transition homes in Mansfield. They will also provide training and support for other hostel staff and those supporting our young people in care, to help them tackle trauma resulting from lived experiences and raise their expectations for a positive future.

Adventure Guides – Reaching Communities

The 4th year of a 4-year funded programme, thanks to a grant from Big Lottery’s Reaching Communities programme, we will be supporting parents from disadvantaged wards in Nottingham and Nottinghamshire to establish stronger relationships with their children as well as establishing new friendships with peers. As well as providing a variety of locally accessible, fun sessions for families, the funding also pays for larger groups to enjoy activities from visits to the seaside and family camping adventures.

Youth Music- Young Creatives

The Young Creative programme has worked with young people from across Nottingham, offering a blend of instrumental lessons, new musical styles and genres, and encouraging Nottingham-based musical professionals to nurture their musical talents.

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21 Analysis of funds (continued)

Youth Music- Young Promoters Newark

Young Promoters developed sustainable music opportunities for rurally isolated young people in Newark where there is an identified lack of delivery in the arts (particularly music). Although the programme will be founded in developing and strengthening the musical ability and confidence of young people, the ‘promoter’ aspect of the project is a great way of empowering young people and getting the community involved in strengthening musical performance and delivery in their own neighbourhood.

Big Lottery Grant

The project supported 16 young people, who are Not in Employment, Education or Training (NEET) in Nottingham for two twelve-week programmes, offering a structured activity programme for one day a week with two alternative education provisions. This programme consisted of diverse outdoor education activities including mountain biking, archery and climbing. . Through participation in this programme the young people developed their transferable life-skills such as confidence, self-esteem, respect, communication, team working, leadership and trust, which encouraged them to re-engage back into education, employment or training, therefore, reducing anti-social behaviour.

BBC Children in Need (Nottinghamshire YMCA)

The funding from Children in Need has supported our digital media offer for young people that either NEET (Not in Education, Employment or Training) or at risk of becoming NEET. Working closely with local schools, Pupil Referral Units, alternative education establishments and local charities supporting children suffering from substance misuse, we provide a variety of digital media and creative activities to engage our young people including.

This includes internet radio broadcasts, rapping, MC'ing, music technology, journalism, DJing, lyrical composition and song-writing, whilst at the same time, offering positive role models through our specialist support staff. Over the first year of the project, young people have created radio shows, music tracks, podcasts and artwork that have been showcased to the public through live shows on 'YMCA Digital' radio (Nottinghamshire YMCA's unique youth lead radio station). The young people have also performed their music tracks at a local venue attended by over 150 members of the public.

BBC Children in Need (The Zone Youth Project)

This project worked in partnership with local youth organisations to support young people with disabilities through music and the creative arts. In partnership with Nottinghamshire YMCA’s onside programme, young people worked with established musicians and youth workers to develop new life skills (including confidence, self-esteem, communication and teamworking), new musical skills and perform in front of their peers at a number of small events.

Sport England grant

A 2-year programme to support young homeless people to engage in a weekly sports programme. 4 cohorts of 10 young people each year will take part in a variety of sports from football to kayaking, culminating in cross-border quarterly tournaments to pit their new sports skills against their peers . The programme is being professionally evaluated by Loughborough University.

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21 Analysis of funds (continued)

Austin & Hope Pilkington Trust

Outdoor Education programme for young residents in our Mansfield Hostel. This funding will enable them to access the great outdoors through a series of challenging and fun activities that will push them to their limits, whilst helping them to tackle mental health issues and develop life skills such as confidence, self-esteem and communication.

HLF

A project designed and led by young people that use our facilities at NGY, Nottingham’s leading youth centre. Young people will learn about the history and heritage of many of the major buildings in our city, their industrial, commercial and educational background and really get a feel for how the city’s landscape has evolved over time. The project is focused on the NGY building, which has been used as a hospital, manor house and radio station – and allegedly has a resident ghost or two!

Onside

The programme supports young people and their parents through a weekly sports and youth club. Activities are designed to give young people a chance to develop new skills and have fun with their peers, and allow parents to share experiences in a quiet and social environment.

NSDC Grant

Coronavirus award from Newark and Sherwood District Council to support local businesses through the pandemic.

Youth Music (Newark)

The Young Creative programme has worked with young people from across Newark, offering a blend of instrumental lessons, new musical styles and genres, and encouraging Newark-based musical professionals to nurture their musical talents.

Street Pastors (Malt Cross Trust)

As an established project, approaching 10 years of operation in Nottingham, the Street Pastor project has continued to operate regularly between January 2018 and March 2019. With a large group of long-serving volunteers, 14 new recruits have been trained taking the total to 64 volunteers from 41 churches across the city increasing the number of teams out on patrol each weekend. Street Pastors have increased the number of partnerships with referral organisations making services more accessible to those that they meet and therefore increasing awareness of other organisations throughout the city to help tackle issues like homelessness, drug and alcohol use . After securing funding from the Nottingham BID and Police and Crime Commissioner for another year Street Pastors have been able to sustain the work currently happening and develop more relevant understanding of the night-time economy in Nottingham. This includes more awareness of the complex and increasingly available psychoactive substances and their effects as well as provide more recovery and preventative aid with greater skill.

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__________

21 Analysis of funds (continued)

Awards for All (The Zone Youth Project)

This is an 18-week programme, with a 2-day residential trip, engaging 16 homeless young people aged 16 to 25, in an innovative environmental education programme, steered by challenging outdoor education, such as mountain biking, hiking, canoeing, orienteering and conservation work. The young people will develop their understanding and awareness of current environmental issues, an appreciation for biological science, sustainability and sense of responsibility towards nature. Whilst participating in and leading these activities, young people will develop social and personal skills such as; respect, communication, trust and empathy combined with technical skills in outdoor sports.

Awards for All (Goole YMCA)

Young people from YMCA hostels in Goole and Mansfield worked alongside the Tall Ships Youth Trust, to deliver a life-skills programme. This included a series of outdoor education days at Hatfield Outdoor Activity Centre, which included both land and water-based activities. The project culminated in a unique opportunity to embark on a Tall Ships trip round the coast of southern England, focusing on team work, communication and planning.

Doing Good Grants

This funding supported out Outdoor Education programme for homeless young people in our Mansfield Hostel, Nottingham. Young people in the hostel will be engaged in a variety of activities over the eight weeks. A couple of these sessions will include cooking on a budget, encourage the residents to obtain an awareness of time and money management skills, as well as team working. Sessions will include orienteering & outdoor cooking and off-road cycling at Sherwood Pines. For these activities to be conducted ingredients will be bought and bikes will need to be hired. As well as, this the sessions will introduce creative skills to the young people by educating them on music and creative writing; photography and creative arts.

Jones 1986 Charitable Trust

This was used for a 6 week Outdoor and Environmental Education programme and has been established with feedback from young homeless people, to empower them with the confidence to re-engage with their education and training. Activities, such as hiking and mountain biking, will take place in local country parks and the Peak District national park, whereby young people can learn transferable life skills, such as confidence, communication, resilience and team working. Which can be transferred into their everyday lives and will form the basis of their first steps towards positive social re-engagement.

Open Gate Trust

Funding was provided for an outdoor education programme for young people aged sixteen to twenty-five, who are homeless and NEET (Not in Education, Employment or Training). The challenging outdoor education include rock-climbing, gorge walking and orienteering. Through transferable life skills, this will steer young people back into education, employment or training and encourage them to reach their potential.

Freemasons Fund

Through this funding, we were able to buy equipment for our outdoor education sessions, such as walking boots, harnesses, slings, waterproof jackets and trousers, tool kits and multiuse gloves.

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__________

21 Analysis of funds (continued)

Gray Trust

This was used for a 6-week outdoor education programme steered by young people. They were encouraged to develop their own sessions around environmental education, such as gaining a sense of responsibility to nature and environmental issues such as litter in nearby lakes. The young homeless people gain knowledge and experience in outdoor activities, such as canoeing, kayaking, and rock-climbing, as well learning about environmental issues.

Lord Barnby Foundation

This funding was used for outdoor activities as a vehicle to combine environmental sciences and personal development for young people, such as mountain biking, hiking, canoeing, rock-climbing, gorge walking and conservation work. Homeless young people were encouraged to participate this this six-week programme, to gain vital skills, such as team-working, communication, active listening and patience. These life skills can be transferred into their everyday lives and will form the basis of their first steps towards positive social re-engagement.

Clothworker Foundation

This funding was a capital grant, more specifically it funded the DJ equipment, which we use for our music and performing arts programmes.

Danielle Beccan Memorial Trust

This funding was for Outdoor education programmes, for NEET (Not in Education, Employment, or Training) young people, who may be at risk of offending. We provided outdoor educational sessions, including kayaking, rock climbing, canoeing an orienteering, to provide healthier lives and to build up their transferable skills, such as team working, decision making and leadership skills.

Sir John Eastwood

This funding was granted to deliver a sports programme for young people with a diverse range of disabilities, aged 11-17 years old. Our OnSide sports programme features sports sessions, competitions and training opportunities for young people with disabilities and their families from Nottingham and Nottinghamshire. The project supports young people with disabilities and their siblings to design and access their own fully inclusive sports sessions.

Mohn Westlake

This funding was for Outdoor education programmes, homeless young people ages 16-25. We provided outdoor educational sessions, including kayaking, rock climbing, canoeing an orienteering, to provide healthier lives and to build up their transferable skills, such as team working, decision making and leadership skills.

GVC Fund

This funding was for Outdoor education programmes, homeless young people ages 16-25. We provided outdoor educational sessions, including kayaking, rock climbing, canoeing an orienteering, to provide healthier lives and to build up their transferable skills, such as team working, decision making and leadership skills.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

21 Analysis of funds (continued)

Awards for all

This funding was used to run an environmental social action project which will nurture youth leadership development coupled with environmental responsibility amongst young people aged 6- 18 living in Newark and surrounding area. We’ll work with local schools (both primary and secondary) to set up an Environmental Youth Council, engaging young people across the district.

The Fifty Fund

The funding supported three distinct cohorts of young people (young homeless people, young people in care and young NEETs) to develop a range of life skills through the medium of outdoor education. Over the course of a year, they took part in a range of outdoor activities, including mountain biking, climbing (both indoor and outdoor), canoeing and archery. Their newfound skills were tested through a 5-day residential with Tall Ships Trust, where they were fully integrated into the crew, be responsible for running the vessel 24/7 which included learning to navigate and read charts, as well as assisting in the galley and helping to maintain the vessel.

Charles Littlewood

The funding supported three distinct cohorts of young people (young homeless people, young people in care and young NEETs) to develop a range of life skills through the medium of outdoor education. Over the course of a year, they took part in a range of outdoor activities, including mountain biking, climbing (both indoor and outdoor), canoeing and archery. Their newfound skills were tested through a 5-day residential with Tall Ships Trust, where they were fully integrated into the crew, be responsible for running the vessel 24/7 which included learning to navigate and read charts, as well as assisting in the galley and helping to maintain the vessel.

Covid funding

Over the duration of the first 8 months of the CoViD pandemic, we were grateful to receive financial support from the following funders to support the needs of our residents, young people in care and wider communities in order to provide food, PPE, toys/games, furnishings and essential training for our staff and volunteers and to ensure that these essential services were maintained.

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__________

Funding Diversification

Quarter four saw the recruitment of a Head of Corporate Gift and Donations Manager. Activity was new to the organisation and time was spent on mapping, researching and developing robust policies and procedures to take best advantage in the coming financial year.

Multiple Complex Needs Grant (City)

Mansfield District Council (MDC) requires a suitably experienced and knowledgeable provider to deliver safe, stable and short-term temporary supported accommodation for homeless individuals during the winter period. The accommodation is to be provided as a temporary measure to ensure homeless individuals are safe and supported, until suitable permanent housing can be sourced.

MDC Rent Deposit Scheme

Identify suitable clients in the transitional properties of the YMCA that are ready for independent living in the private rented sector and provide funding to support bonds and rent in advance. This pathway will then free up bed spaces in the MCN project for Mansfield to nominate clients into.

Young Peoples Fund

Funding from the Active Partnership to support our young residents in Mansfield to develop healthy lifestyles. This funding has allowed our residents to set up their own newsletter and equip themselves with sports kit to get out and get active.

Reaching Communities Covid relief

Support for our services during CoViD that allowed us to maintain safe and secure environments in our hostel, provide training for our staff members to support vulnerable people in our communities and provide a range of educational and fun games and opportunities for young people and homeless adults.

Y Girls

Partnership with YMCA England and other YMCAs across the UK to support girls that may be at risk of engaging in risky behaviour. We will be working with 25 girls through a 1-2-1 mentoring scheme to help them develop confidence, self-esteem and communication skills to help them truly belong, contribute and thrive.

Youth - J N Derbyshire Trust Charity

Funding from the Trust to support our creative arts programmes for young people across Nottingham and the county.

Morrisons Foundation Grant for Mansfield (Covid)

This grant enabled us to provide PPE, white goods, games, books and toiletries for vulnerable, homeless people across our hostels and transition homes.

Capitol Park Grant - Goole (Covid)

Funding to support homeless young people in Goole, providing training and resources to help them develop independent life skills.

Comic Relief

Grant to support our programmes during CoViD, meeting increased demand and covering costs such as PPE, white goods for any residents that needed to self-isolate and additional training for our staff and volunteers.

Board Meeting 15 September 2021-15/09/21

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

21 Analysis of funds (continued)

Comic Relief - Ahead of the Game

New funding to support our residents in Mansfield with an in-house Trauma-Informed Counsellor and to set up a Psychologically Informed Environment, alongside a user-led health and activity programme.

22 Operating lease commitments

At 31 March 2021, the YMCA had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Land and building leases:
Within one year
Between one to two years
Between two and five years
After five years		 Group and Charity
2021
2020
£
£
406,815
759,669
154,895
406,815
64,064
154,895
-
-
625,774
1,321,379

At 31 March 2021, the YMCA had outstanding commitments owed to them in respect of operating leases as a lessor for future minimum lease payments under non-cancellable operating leases on three commercial properties and a telephone mast, which fall receivable as follows:

Operating leases receivable:
Within one year
Between one to two years
Between two and five years
In over five years		 Group and Charity
2021
2020
£
£
23,002
66,433
19,476
23,002
22,852
39,505
-
2,822
65,330
131,762		 Group and Charity
2021
2020
£
£
23,002
66,433
19,476
23,002
22,852
39,505
-
2,822
65,330
131,762
131,762

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

23 Pension costs

Nottinghamshire YMCA 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 Nottinghamshire YMCA and at the year-end these were invested in the Mercer Dynamic De-risking solution, 40% matching portfolio and 60% in the growth portfolio and Schroder (property units only).

The most recent completed three-year valuation was as at 1 May 2020. The assumptions used which have the most significant effect on the results of the valuation are those relating to the assumed rates of return on assets held before and after retirement of 2.59% and 1.09% respectively, the increase in pensions in payment of 2.99% (for RPI capped at 5% p.a.), and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 22.0 years, female 24.4 years, and 23.7 years for a male pensioner, female 26.1 years, retiring in 20 years’ time. The result of the valuation showed that the actuarial value of the assets was £146.1m, which represented 79% of the benefits that had accrued to members.

The Plan’s actuary has advised that it is not possible to separately identify the assets and liabilities relating to Nottinghamshire YMCA for the purposes of accounting disclosure and accordingly the actuarial deficit is not shown on the balance sheet.

The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits all employed deferred members became normal deferred members as from 1 May 2011.

The valuation prepared as at 1 May 2020 showed that the YMCA Pension Plan had a reduced deficit of £36 million. Nottinghamshire YMCA has been advised that it will need to make monthly contributions of £3,412 from 1 May 2021, being £2,759 deficit contribution and £653 contribution to the plan expense. 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. The current recovery period is 8 years commencing 1st May 2021.

Pension costs repayable:
Within one year
Between one to two years
Between two and five years
In over five years		 2021
£
33,112
34,106
108,579
38,386
214,183		 2020
£
32,148
33,112
105,417
75,654
246,331

In addition, Nottinghamshire YMCA may have, over time, liabilities in the event of the nonpayment 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 Nottinghamshire YMCA may be called upon to pay in the future.

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__________

24 Contingent liabilities

A number of funders make grant payments dependent on detailed submissions by Nottinghamshire YMCA and its related charities. They reserve the right to audit these submissions retrospectively and insist that information is recorded in particular formats. Nottinghamshire YMCA and its related charities make every effort to comply with funders’ requirements and to maintain the specified records but there is a risk that, at audit, some amount of grant may be disallowed. Nottinghamshire YMCA or its related charities are not aware of any significant risk in this respect.

25 Reconciliations of net cash flow to movement in net funds/(debt)

Movement in cash in the period
Decrease in debt
Change in net funds/(debt)
Net funds as at 1 April 2020
Net funds as at 31 March 2021		 2021
£
5,201,090
(3,553,775)
1,647,314
(2,086,665)

(439,350)
 2020
£
(166,525)
(145,464)
(311,989)
(1,774,678)
(2,086,667)

Analysis of changes in net funds/(debt)

Cash at bank and in hand
Loans due within one year
Loans due after more than one year
Finance leases due within one year		 2020
Cash flows
Non-cash
movement
2021
£
£
£
£
979,561
5,201,090
-
6,180,651
(185,887)
147,879
-
(38,008)
(2,880,341)
(3,701,651)
-
(6,581,992)
-
-
-
-
(2,086,667)
1,647,317
-
(439,350)

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Tab 12 BM-0921-12: Annual Report / Statutory Accounts FE 202/21 Board Vote Digitally 29th September 2021 via Email

NOTTINGHAMSHIRE YMCA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 MARCH 2021

__________

26
Net cash provided by operating activities
Cash flows from operating activities:
Net income for the year
Bank interest payable
Depreciation – Gross
Depreciation – Grant
Gain on fixed asset disposal
Working capital increase on consolidation
(Increase)/decrease in debtors
Increase/(decrease) in creditors		 2021
£
239,067
99,069
366,785
(93,668)
(4,831)
7,869
(373,054)
765,835
1,007,072		 2020
£
(2,671)
44,195
356,944
(94,924)
-
-
(349,804)
349,394
303,134

27 Post balance sheet events

The trustees do not believe there have been any material events post the balance sheet date.

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