DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
REGISTERED CHARITY NUMBER: 250527
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2020
FOR
YMCA SCARBOROUGH
Lloyd Dowson Limited Medina House
2 Station Avenue Bridlington East Yorkshire YO16 4LZ
DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 to 8 |
| Notes to the Financial Statements | 9 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020
The trustees present their report with the financial statements of the charity for the year ended 30 September 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Public benefit
YMCA Scarborough is an independent, locally focussed charity which is also part of a worldwide organisation. Rooted in the seaside town of Scarborough, we have a long and proud heritage, having been in existence since 1846.
The ward in the immediate area where we are based in Scarborough continues to be disproportionately affected by poverty with 41% of children in the Castle ward being shown as living in poverty. Scarborough also continues to be recorded as the local authority with the lowest mean gross salary in the UK. The effects of poverty reach far beyond lacking material goods where the immediate consequences of poverty can include relationship and family problems, lower educational achievement and being a victim or a perpetrator of crime. Worse, poverty itself is systemic and hard to escape - living in poverty in childhood increases the risk of unemployment and low pay in adulthood, and lower savings in later life.
The difference our work makes:
Our work continues to offer a range of opportunities that local people are unlikely to be able to access in any other single place. Empowering people to take part in activities which others may take for granted has immediate benefits for those involved - wider social networks, new skills and boosted confidence - but has a broader positive impact for the whole community. For example, the youth work we provide means that young people have positive evening activities to engage with - and as such, are much less likely to become a victim or perpetrator of crime.
For the increasing number of people who present to us struggling with confidence and self-esteem issues, we know that it's important for them to engage in a wider range of education- and employment-related activities, where they can see demonstrable results to their developing skills and achievements. We do this by providing opportunities for activities which result in public approval (such as performance) as well as tangible achievements (like a London College of Music award). We know that the volunteering and social opportunities we offer children and young people are invaluable - improving their future employment prospects and teaching them how to work as part of a team. This is particularly crucial for those young people who do not excel academically, giving them a chance to shine in a different arena, and building their resilience.
We know that the work we do continues to make a real difference to people's lives with previous feedback from young people attending our youth club showed that the majority had gained new skills as a result of attending. The same group of young people were overall lacking in confidence to try new things when they first started attending but after attending events at the YMCA the vast majority continued to describe themselves as either extremely confident or quite confident.
ACHIEVEMENT AND PERFORMANCE
A review of the Association's activities for the year will be found in the Annual Report for the year ended 30 September 2020. In compiling this report the trustees have given due regard to public benefit guidance issued by the Charity Commission.
Due to the Government lockdown restrictions introduced as a result of the COVID-19 pandemic, the YMCA was closed at the end of March 2020, and for most of the remainder of the accounting year.
In March 2020, the Board urgently set out a survival plan to ensure that the YMCA was able to reduce costs and continue business going forward.
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DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020
FINANCIAL REVIEW
The Statement of Financial Activity shows a net deficit for the year of £55,600 (2019 - surplus of £17,349) and the Balance Sheet shows net unrestricted assets of £836,172 (2019 - £849,056) with much of these assets attributable to the net book value of the freehold property.
Whilst continuing to seek new sources of finance for the key activities, the trustees will also maintain careful financial control. By doing so the unrestricted general funds can be augmented to provide the necessary resources for the enhancement and extension of the facilities with which the charity will continue to serve the changing needs of the public as it has done since 1846.
The trustees gratefully acknowledge the support of all our donors and funders. Such grants enable the charity to carry on the services it provides.
The long term reserves policy is to hold sufficient investments and net current assets reserves to cover over six months expenditure, so as to ensure as far as possible the continuation of the charity's activities in the event of significant shortfalls in anticipated income. At 30 September 2020 these reserves represented just under 7 months expenditure which is slightly lower than the previous year.
The impact of the COVID-19 pandemic meant that the YMCA was forced to close from mid March 2020 and for most of the 2020 year, followed by subsequent periods of lockdown in 2021. At the time of closure, the Board set out a survival plan to reduce costs and ensure its financial stability going forward.
FUTURE PLANS
Work will review our Business, Financial and Marketing Plans, assessing progress to date and making any necessary changes. We will continue to strengthen the quality of our offer, including the implementation of our new Volunteer Strategy and we will assess the viability of establishing an in-house mental health resource to better-support those in need. We will embrace the new YMCA Membership Agreement, bringing to a conclusion the work to update our Constitution, and signing-up by the end of March 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Under the requirements of the charity's Memorandum and Articles all trustees must retire after an agreed period when they can then be re-elected at the next Annual General Meeting.
The Board seeks to ensure that the trustees have the necessary knowledge and experience to ensure that the operations of the charity are adequately addressed. In order to promote a broad mix, members of the Board are requested to provide a list of their skills and in the event of particular skills not being available, individuals with that particular experience are approached to offer themselves for election to the Board.
Induction and training of new trustees
Most trustees are already familiar with the practical work of the charity, but new trustees are invited to attend short tours and training sessions to familiarise themselves with the workings of the charity and context within which it operates. These are held with other trustees of the charity and cover:
-
Obligations of the trustees.
-
The main purpose of the charity and work undertaken.
-
Resourcing and current financial position of the charity.
-
Future plans and objectives.
A review process is being undertaken to ensure that the process of appointing new trustees is sufficiently detailed.
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YMCA SCARBOROUGH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Young Men's Christian Association Scarborough (YMCA) is an unincorporated association governed by its constitution. It is a registered charity which is affiliated to the National Council of YMCA's, a separate registered charity. Under its constitution, the administration of the Association is controlled and directed by the board of Management, which consists of the President, Chairman and Treasurer of the Association, ex-officio and either two of the Trustees, or, if the National Council of Young Men's Christian Associations Incorporated is a trustee of such property, then a person to be appointed by the National Council, (who need not be a member of the National Council), in either case together with not less than six nor, more than twelve members of the Association, who shall be elected at the Annual Business Meeting. The regular reports received at Board meetings enable the Board to monitor the major risks to which the Association is exposed so that necessary steps can be taken to mitigate these risks, as well as planning for future development.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
250527
Principal address
St Thomas Street Scarborough North Yorkshire YO11 1DY
Trustees
S A Slade Treasurer N D Leadley Mrs A I Kitching (resigned 17.7.20) M D Dresser B Mustoe Chairman H Watts P Carney (resigned 31.7.20) Mrs D L Gordon (resigned 16.7.20) S Bromham Mrs A M Benson (resigned 30.4.20) Mrs T Calcraft (appointed 31.3.22)
Independent Examiner
Lloyd Dowson Limited Medina House 2 Station Avenue Bridlington East Yorkshire YO16 4LZ
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YMCA SCARBOROUGH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2020
REFERENCE AND ADMINISTRATIVE DETAILS Board members
All the trustees are also Board members.
Custodian Trustee
YMCA England
President
T Boyes
Bankers
Barclays Bank plc PO Box 13 St. Nicholas Street Scarborough YO11 2HS
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ B Mustoe - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YMCA SCARBOROUGH
Independent examiner's report to the trustees of YMCA Scarborough
I report to the charity trustees on my examination of the accounts of YMCA Scarborough (the Trust) for the year ended 30 September 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants England and Wales which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tracy Meredith-Baker, FCA, FCCA Institute of Chartered Accountants England and Wales Lloyd Dowson Limited Medina House 2 Station Avenue Bridlington East Yorkshire YO16 4LZ
Date: .............................................
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YMCA SCARBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2020
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 114,039 Charitable activities Activities and leadership 37,234 Leisure centre 57,401 Other trading activities 3 81,212 Investment income 4 5,824 Total 295,710 EXPENDITURE ON Raising funds 5 40,788 Charitable activities Activities and leadership 58,345 Leisure centre 208,597 Total 307,730 Net gains/(losses) on investments (15,328) NET INCOME/(EXPENDITURE) (27,348) Transfers between funds 15 14,464 Net movement in funds (12,884) RECONCILIATION OF FUNDS Total funds brought forward 849,056 TOTAL FUNDS CARRIED FORWARD 836,172 |
Restricted funds £ 39,411 - - - - 39,411 4,297 62,782 584 67,663 - (28,252) (14,464) (42,716) 48,519 5,803 |
30.9.20 Total funds £ 153,450 37,234 57,401 81,212 5,824 335,121 45,085 121,127 209,181 375,393 (15,328) (55,600) - (55,600) 897,575 841,975 |
30.9.19 Total funds £ 155,026 9,779 55,407 179,499 6,098 405,809 83,179 133,347 168,281 384,807 (3,653) 17,349 - 17,349 880,226 897,575 |
|---|---|---|---|
The notes form part of these financial statements
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DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
BALANCE SHEET 30 SEPTEMBER 2020
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Stocks 11 Debtors: amounts falling due within one year 12 Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES PROVISIONS FOR LIABILITIES 14 NET ASSETS |
Unrestricted fund £ 743,373 131,143 874,516 4,220 4,430 58,034 66,684 (23,101) 43,583 918,099 (81,927) 836,172 |
Restricted funds £ - - - - - 9,303 9,303 (3,500) 5,803 5,803 - 5,803 |
30.9.20 Total funds £ 743,373 131,143 874,516 4,220 4,430 67,337 75,987 (26,601) 49,386 923,902 (81,927) 841,975 |
30.9.19 Total funds £ 769,153 146,925 916,078 6,935 15,426 79,569 101,930 (22,120) 79,810 995,888 (98,313) 897,575 |
|---|---|---|---|---|
The notes form part of these financial statements
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YMCA SCARBOROUGH
BALANCE SHEET - continued 30 SEPTEMBER 2020
| FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
836,172 5,803 841,975 |
849,056 48,519 |
|---|---|---|
| 897,575 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. B Mustoe - Trustee
............................................. S A Slade - Trustee
............................................. H Watts - Trustee
............................................. N D Leadley - Trustee
............................................. M D Dresser - Trustee ............................................. S Bromham - Trustee
............................................. Mrs T Calcraft - Trustee
The notes form part of these financial statements
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YMCA SCARBOROUGH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Going concern - COVID-19
The financial statements have been prepared on the going concern basis of accounting, which assumes that the charity is able to continue operating as a going concern.
As at the date of approval of these financial statements, the UK is still facing some uncertainty due to the global COVID-19 pandemic and the ongoing disruption to business and charitable operations.
The charity was affected by the introduction of restrictions introduced by the UK Government to combat the pandemic, which meant that the charity closed its doors at the end of March 2020 and did not open again until late 2020, subsequently the charity has seen encouraging user numbers due to the public wanting to take part in activities. However, the charity was closed again due to further lockdown's in November 2020 and from early January 2021 to April 2021. The trustees are of the opinion that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of accounting remains appropriate.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures, fittings and equipment - 15% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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YMCA SCARBOROUGH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
1. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Grants and donations
Revenue grants and donations are recognised in the Statement of Financial Activities on receipt, subject to any required conditions being met or services being provided.
Donated goods, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the friends is not recognised. Readers should refer to the trustees' annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Investments
The investments are stated at market value at the balance sheet date and are managed by Brewin Dolphin plc.
2. DONATIONS AND LEGACIES
Restricted grants received in the year are as follows: BBC Children in Need - £3,411 (2019 - £12,922) NYCC Stronger Communities - £34,000 (2019 - £26,180) Scarborough Borough Council lighting - £2,000 (2020 - £Nil)
Other material grants were received from the following sources: Two Ridings Community Foundation - £15,000 (2019 - £6,870) YMCA National, Covid-19 support - £15,000 (2019 - Nil) Scarborough Borough Council. Covid-19 support - £25,000 (2019 - £Nil)
3. OTHER TRADING ACTIVITIES
| Own theatre productions Outside theatre lettings Coffee and theatre bars Photocopying Other theatre productions |
30.9.20 £ 35,750 16,202 25,463 696 3,101 81,212 |
30.9.19 £ 71,096 30,472 60,080 1,478 16,373 |
|---|---|---|
| 179,499 |
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YMCA SCARBOROUGH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
4. INVESTMENT INCOME
| 4. | INVESTMENT INCOME | ||
|---|---|---|---|
| 30.9.20 | 30.9.19 | ||
| £ | £ | ||
| Interest received | 78 | 91 | |
| Investment income | 5,746 | 6,007 | |
| 5,824 | 6,098 | ||
| 5. | RAISING FUNDS | ||
| Investment management costs | |||
| 30.9.20 | 30.9.19 | ||
| £ | £ | ||
| Investment management fees | 455 | 338 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2020 nor for the year ended 30 September 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2020 nor for the year ended 30 September 2019.
7. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 30.9.20 | 30.9.19 | |
|---|---|---|
| Activities and leadership | 18 | 17 |
| Cleaners | 2 | 2 |
| 20 | 19 |
No employees received emoluments in excess of £60,000.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
| 8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 61,790 Charitable activities Activities and leadership 9,779 Leisure centre 55,407 Other trading activities 179,499 Investment income 6,098 Total 312,573 EXPENDITURE ON Raising funds 68,443 Charitable activities Activities and leadership 128,788 Leisure centre 142,859 Total 340,090 Net gains/(losses) on investments (3,653) NET INCOME/(EXPENDITURE) (31,170) RECONCILIATION OF FUNDS Total funds brought forward 880,226 TOTAL FUNDS CARRIED FORWARD 849,056 |
Restricted funds £ 93,236 - - - - 93,236 14,736 4,559 25,422 44,717 - 48,519 - 48,519 |
Total funds £ 155,026 9,779 55,407 179,499 6,098 405,809 83,179 133,347 168,281 384,807 (3,653) 17,349 880,226 897,575 |
|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
9. TANGIBLE FIXED ASSETS
| COST At 1 October 2019 Additions At 30 September 2020 DEPRECIATION At 1 October 2019 Charge for year At 30 September 2020 NET BOOK VALUE At 30 September 2020 At 30 September 2019 10. FIXED ASSET INVESTMENTS Shares Investment cash Additional information as follows: MARKET VALUE At 1 October 2019 Revaluations At 30 September 2020 NET BOOK VALUE At 30 September 2020 At 30 September 2019 |
Freehold property £ 737,091 - 737,091 58,978 14,742 73,720 663,371 678,113 |
Fixtures, fittings and equipment Totals £ £ 388,466 1,125,557 3,080 3,080 391,546 1,128,637 297,426 356,404 14,118 28,860 311,544 385,264 80,002 743,373 91,040 769,153 30.9.20 30.9.19 £ £ 124,855 144,949 6,288 1,976 131,143 146,925 Cash and settlements pending £ 144,949 (20,094) 124,855 124,855 144,949 |
|---|---|---|
There were no investment assets outside the UK.
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
10. FIXED ASSET INVESTMENTS - continued
Investments comprising more than 5% of the total value of the portfolio are:
| 30.9.20 | 30.9.20 | 30.9.19 | 30.9.19 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Link Trojan Fund Income | 13,624 | 14,914 | |||
| River & Mercantile UK Equity | 10,337 | 10,803 | |||
| Threadneedle Investment UK Equity | 11,398 | 13,035 | |||
| Edinburgh Investment Trust | 7,775 | 10,109 | |||
| Murray Income Trust | 10,950 | 13,437 | |||
| Artemis Fund Managers Global | - | 10,216 | |||
| BNY Mellon Fund | 8,656 | 9,410 | |||
| Law Debenture Corporation | 9,648 | 11,009 | |||
| Witan Investment Trust | 8,813 | - | |||
| Jupiter Managers Strategic Bond | 6,575 | - | |||
| Investments (neither listed nor unlisted) were as follows: | |||||
| 30.9.20 | 30.9.19 | ||||
| £ | £ | ||||
| Cash | 6,288 | 1,976 | |||
| 11. | STOCKS | ||||
| 30.9.20 | 30.9.19 | ||||
| £ | £ | ||||
| Stock | 4,220 | 6,935 | |||
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 30.9.20 | 30.9.19 | ||||
| £ | £ | ||||
| Trade debtors | 27 | 11,900 | |||
| Other debtors | 3,185 | - | |||
| VAT | 594 | - | |||
| Prepayments | 624 | 3,526 | |||
| 4,430 | 15,426 |
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 30.9.20 | 30.9.19 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 7,844 | 11,776 |
| Taxation and social security | 6,043 | 5,462 |
| Other creditors | 12,714 | 4,882 |
| **26,601 ** | 22,120 |
14. PROVISIONS FOR LIABILITIES
The liability is due as follows:
| Within one year One to five years Over five years As at 1 October 2019 Payments made As at 30 September 2020 |
30.09.20 £ 16,386 65,541 - 81,927 30.09.20 £ 98,313 (16,386) 81,927 |
30.09.19 £ 16,386 65,544 16,383 98,313 30.9.19 £ 114,699 (16,386) 98,313 |
|---|---|---|
Scarborough YMCA has been notified by the YMCA Pension Plan of their allocation of the contributions required towards the overall deficit of the YMCA Pension Plan (see note 17). The monthly payment amount also includes a contribution towards scheme expenses.
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds BBC Children in Need NYCC Stronger Communities Sirius Minerals Foundation Postcode Community Trust TOTAL FUNDS |
At 1.10.19 £ 849,056 7,173 4,500 22,382 14,464 48,519 897,575 |
Net movement in funds £ (27,348) (7,173) 1,303 (22,382) - (28,252) **(55,600) ** |
Transfers between funds £ 14,464 - - - (14,464) (14,464) - |
At 30.9.20 £ 836,172 - 5,803 - - |
|---|---|---|---|---|
| 5,803 | ||||
| 841,975 |
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
15. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds BBC Children in Need NYCC Stronger Communities Sirius Minerals Foundation SBC Lighting TOTAL FUNDS |
Incoming resources £ 295,710 3,411 34,000 - 2,000 39,411 335,121 |
Resources expended £ (307,730) (10,584) (32,697) (22,382) (2,000) (67,663) **(375,393) ** |
Gains and Movement losses in funds £ £ (15,328) (27,348) - (7,173) - 1,303 - (22,382) - - - (28,252) (15,328) **(55,600) ** |
|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds BBC Children in Need NYCC Stronger Communities Sirius Minerals Foundation Postcode Community Trust TOTAL FUNDS |
At 1.10.18 £ 880,226 - - - - - 880,226 |
Net movement in funds £ (31,170) 7,173 4,500 22,382 14,464 48,519 17,349 |
At 30.9.19 £ 849,056 7,173 4,500 22,382 14,464 48,519 897,575 |
|---|---|---|---|
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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
15. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds BBC Children in Need NYCC Stronger Communities Sirius Minerals Foundation Postcode Community Trust Big Lottery Awards Trusthouse Charitable Foundation TOTAL FUNDS |
Incoming resources £ 312,573 12,922 26,180 27,000 19,989 3,683 3,462 93,236 405,809 |
Resources expended £ (340,090) (5,749) (21,680) (4,618) (5,525) (3,683) (3,462) (44,717) (384,807) |
Gains and Movement losses in funds £ £ (3,653) (31,170) - 7,173 - 4,500 - 22,382 - 14,464 - - - - - 48,519 (3,653) 17,349 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds NYCC Stronger Communities Postcode Community Trust TOTAL FUNDS |
At 1.10.18 £ 880,226 - - - 880,226 |
Net movement in funds £ (58,518) 5,803 14,464 20,267 (38,251) |
Transfers between funds £ 14,464 - (14,464) (14,464) - |
At 30.9.20 £ 836,172 5,803 - 5,803 841,975 |
|---|---|---|---|---|
continued...
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DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2020
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds BBC Children in Need NYCC Stronger Communities Sirius Minerals Foundation Postcode Community Trust Big Lottery Awards Trusthouse Charitable Foundation SBC Lighting TOTAL FUNDS |
Incoming resources £ 608,283 16,333 60,180 27,000 19,989 3,683 3,462 2,000 132,647 740,930 |
Resources expended £ (647,820) (16,333) (54,377) (27,000) (5,525) (3,683) (3,462) (2,000) (112,380) (760,200) |
Gains and Movement losses in funds £ £ (18,981) (58,518) - - - 5,803 - - - 14,464 - - - - - - - 20,267 (18,981) (38,251) |
|---|---|---|---|
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2020.
17. PENSION COMMITMENTS
The Scarborough YMCA participated in a contributory pension plan providing defined benefits based on final pensionable pay for employees of YMCA's in England, Scotland and Wales. The assets of the YMCA Pension Plan are held separately from those of Scarborough YMCA and at the year end these were invested in managed funds 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 at 1 May 2017. 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 3.75% and 2.25% respectively, the increase in pensions in payment of 3.35% (for RPI capped at 5% p.a.) and the average life expectancy from normal retirement age (of 65) for a current male pensioner of 22.2 years, female 24.1 years, and 24.0 years for a male pensioner, female 26.0 years, retiring in 20 years time. The result of the valuation showed that the actuarial value of the assets was £141.2m. This represented 81% of the benefits that had accrued to members.
The Pension Plan was closed to new members and future service accrual with effect from 30 April 2007. With the removal of the salary linkage for benefits, all employed deferred members became deferred members as from 1 May 2011.
The valuation prepared as at 1 May 2017 showed that the YMCA Pension Plan had a deficit of £33.6m. Scarborough YMCA has been advised that it will now need to make monthly payments of £1,397 from 1 May 2019. 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 1 May 2019.
In addition, Scarborough YMCA may have over time liabilities in the event of the non payment by other participating YMCA's of their share of the YMCA Pension Plan's deficit. It is not possible currently to quantify the potential amount that Scarborough YMCA may be called upon to pay in the future.
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DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 | ||
| 30.9.20 | 30.9.19 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Grants and donations | 153,450 | 155,026 |
| Other trading activities | ||
| Own theatre productions | 35,750 | 71,096 |
| Outside theatre lettings | 16,202 | 30,472 |
| Coffee and theatre bars | 25,463 | 60,080 |
| Photocopying | 696 | 1,478 |
| Other theatre productions | **3,101 ** | 16,373 |
| 81,212 | 179,499 | |
| Investment income | ||
| Interest received | 78 | 91 |
| Investment income | 5,746 | 6,007 |
| 5,824 | 6,098 | |
| Charitable activities | ||
| Activities and leadership | 9,002 | 9,779 |
| Rental income | 36,282 | 55,407 |
| Job Retention Scheme grants | **49,351 ** | - |
| 94,635 | 65,186 | |
| Total incoming resources | 335,121 | 405,809 |
| EXPENDITURE | ||
| Other trading activities | ||
| Own theatre production costs | 19,275 | 40,560 |
| Coffee and theatre bars | 16,351 | 30,055 |
| Licences | 3,627 | 3,769 |
| Youth Club | 4,297 | 5,992 |
| Other theatre productions cost | - | 62 |
| Arts award | 1,080 | 2,403 |
| 44,630 | 82,841 | |
| Investment management costs | ||
| Investment management fees | 455 | 338 |
| Charitable activities | ||
| Wages | 216,347 | 177,764 |
| Social security | 10,068 | 8,476 |
| Pensions | 4,033 | 6,275 |
| Carried forward | 230,448 | 192,515 |
This page does not form part of the statutory financial statements
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DocuSign Envelope ID: 005F1F80-4231-42D4-B032-6258648077FA
YMCA SCARBOROUGH
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 | ||
| 30.9.20 | 30.9.19 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 230,448 | 192,515 |
| Cleaning | 3,489 | 4,499 |
| Leases | - | 1,393 |
| Insurance | 8,988 | 8,934 |
| Light and heat | 19,565 | 21,107 |
| Premises - rates and telephone | 3,915 | 3,830 |
| Post and stationery | 3,056 | 2,690 |
| Marketing and advertising | 4,316 | 7,134 |
| Sundries | 2,261 | 2,210 |
| Training expenses | 1,529 | 1,543 |
| Subscriptions | 1,363 | 1,549 |
| Repairs | 10,870 | 16,719 |
| Credit card charges | 1,092 | 1,444 |
| Bank charges | 229 | 145 |
| Professional fees | 5,250 | - |
| Depreciation of freehold property | 14,742 | 14,742 |
| Depreciation of fixtures and fittings | 14,118 | 16,066 |
| 325,231 | 296,520 | |
| Support costs | ||
| Governance costs | ||
| Accountancy | 5,077 | 5,108 |
| Total resources expended | 375,393 | 384,807 |
| Net (expenditure)/income before gains and | ||
| losses | (40,272) | 21,002 |
| Unrealised recognised gains and losses | ||
| Unrealised gains/losses on fixed asset | ||
| investments | **(15,328) ** | (3,653) |
| Net (expenditure)/income | **(55,600) ** | 17,349 |
This page does not form part of the statutory financial statements
Page 20