REGISTERED CHARITY NUMBER: 251245 RF.PORT OF THE TRUSTEES AND UNAUDITED HNANCIAL STATEMENTS FOR THE YEAR ENDED ?,1 MARCH 2024 FOR BARRY YOUNG MEN'S CHRISTL4N ASSOCIATION MHA Elfed House Oak Tree Court Cardiff Gate Business Parf( CARDIFF CF23 8RS BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Rèport of the Trustee Indèpèndent Examinerfs Report Stat•mènt of FinarteSal Activities Balance Shéet Cash Flow Statement 70 Notes to th# Cash Flow Ststement Notes to th• Flnanclal Statèrngnts 12 10 24 BARRY YOUNG MEN'S CHRIST5AN ASSOCIATION REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH2024 The Iruslees present their rewrt with the financlal st21ernenls of th8 Barry YMCA (the Charity) for the year ended 31 March 2024. The trustees serving during the yeai were as follows.'- Geoff DaMe5 (Chairl Lesley Virgin, Cllr Sandra Perkes. Cllr Naomi Marshallsea (Resigned 20.10.20231, Cllr Ewan Gotsdjohn. Cllr Emma Goodjohn, Mr K". Ruwètsrna. Mr John Hill-Tout appointed 26.05.2023 and Cllr Howard Harnilton 8ppoiTrled 20.10.2023. Linda fvens and Stella Weston were Property Trustees. None of the trnstees received any emoluments nor has any trustee had a b8neficial interest In the YMCA'5 undertaknngs. The trustees have adopted the provisions tsl Accyjunting and Repottng by Charitie5.' Statement ol Recommended Practlce applicable to charitie$ prepariwj Iheii" account$ in accordance W￿l￿ the Finanaaj Rep￿ling Stanrlar¢S appkcabl& in the UK and Republic of Ireland IFRS 1021 leffedive 1 January 20191. OBJECTIVES AND ACTIVITIES Objective5 and aims The obje¢live of the Charlty is to lead young people io the Lord and to the fullness ol life in Him and, secondly, to provKJe or assist in the provislon, rrs the interests of sc.aal welfare. of f8olili8s of r8crealion and other leisure timg oc¢upatK)n lor man and wornan with the object ol impromng thelr condition of life. Th8 Charily works ¢owards thos8 obj8¢tive$ by prowding programrne5 of acbvitses In a wlde variety of cultural and 8POrting areas. It works both 31one and in partnership with other slatulory and voluntary ag6ncieE. It also provldes a venue for a very wid8 variety ol educational and recreati¢￿81 trainlng coutses and comrnynity events. Whilst wothing towards its objectives. il is mindful of its own and the worldwide YMCA movement's committnent to 8qualily of OPPDrtunity without re9ard to race, gender. pdili¢al or tsligious affilis)tion. Slgntllcznt activhties Programrnes Th8 prinup818CtMties planned forthe year were lo provSL'.e a rdnge ofprogramrnes for the comm¢Mity'. Gymnastics classe5 designed to encourage thildren and young people to participate arKI irnprove Iheir h8atth Expanding our gymnasb.cs services and health and wellbeing programme into other areas A programme ol activities to encourage people and cornmunities to improve their health and educalion particulady targeting young people and groups with specific needs. Incieaslng volunieer p8rtictpats.on Continue and develop partnership working with other publlc and voluntary organisalions Period Povety Contre - YMCA Barry 15 a registered Period Poverty Centie where free perk)d Pr￿Ucts are available thr￿ghOut the year. Fre6 Pre-school Gymnastles Class88 YMCA Bary i'iirked with the Vale of Glamoigan Sport and Play Taam lo deliver frp.o preschool specffic sésstons to ty and encourage parents to engage their children into physical activity e8rfy. Be￿een YMCA Barry and Silver Slafs of YMCA $4 pre-school children accessed free gymnaslrcs. some for the first time. Silver Stars of YMCA Barry SSnce a¢ouiring Silver Star5 gymnastics dub YMCA 8atry hav8 continued to deliver gymnastics se5sion5 on Wednesday and Saturday to children aged three and above, continuing Ihe ¢lub'5 ethos lo provide children wlh a lun, safe and secure envlronment whereby children can become fitter, learn new skills. make new friends and develop m confidence. S,. Li Ir Stats tsf YMCA Bary quickly developed increasing numbers tskincJ iiart, however du8 lo malntenance works at the Itisure cenlre roof mean¢ access to the main hall was suspended ano only cla5s8s for younger Child￿n could carry on 8t the centre in a much smaller h811, all other children were rnoved to YMCA B8ry. When able lo return to the rnain hall, expected in October 2024. Silver Stars at YMCA Barry wll have lo be redeveloped, attracting new members from the local community. Page 1 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Slgnifi¢ant adlvltie5 Cost of Livbng Crl$ls Energy Effi¢len¢y 11 was rewrted In the 2022-2023 annual account that the Irustees had io rnake very difficult dectsions 8boLrt fixing electrlLity unit price$ a$ the maJket was unstsble. Trustees continued to monitor the market and work 4wth Utility ￿¢j to rjnd th8 best gas and eleelricity unit prices. A siittessful grant application to thè Lottery Cost of Living Fund has made an incredible dlfference to th8 charity's sustainability, lh8 grant is supportSng Ihe cost of utilities for a Iwo year period 2023- 2025. Bulldlng servlce ¢ontraets and compllance Every setvice provided lo the YMCA has increased in ¢ost dramatically, strict fin8no81 monltortng and reporbryj is in a￿ en$u￿n9 the cashfl¢)w fore¢asl tn plBcÈ fGr Ihe year is constandy reviewed. Staff Salary R¢vl•w We have acknowledged the ImkXJrtan￿ in tnv¢45ting in our staff th1% includes salary feviews, updating salgries to better rofle¢l th8 c05t of limng Crisis. Partnershlps Barry YMCA partner organisabons which #r8 based 8t the YMCA continued to work tO9ethèr to provide essentlal servi￿$ to a wde group of people wth diffarbn4 levels ol needs. ContinuSng paFlnerships have pro￿ed a rango of activities and servlces, includlng.. Health and Wellbein9 facilities for community groups. Pre.16 Alternallve Educalion provlsion for young pèople who are eX￿rien￿ng eTh*Jtional and wellbelng challenge. Open a¢￿$$ Youth club prowsion Young Carers Projects OBJECTEVES AND ACTIVITIES A dan￿ and 8CtNty programme ftsr all ages and abilit*s A safe and secure day unit fortho58 Wlth high dependency noads FM broadcasting radio studios serviring community radio Cornmunity Radio Youth Club Tralning suites to enable partners to support people back Into wo Public beneftt The chariws trustees can confirm that they have cornplied Mlh the duly in Section 17 of th8 Charities Act 2011 to have due ￿gard to public benefit by the Commi851on. The charftablè objectives ouuined above and the aclivitses of the d)aThty demonstr8t8 public benerrt. Volunteer$ The Charity offers vdunteering opportunities to all ages and abllib6s and is proud of the number of young peop who chose to volunteer, especlally within the gymnastics section. volunteers are offered ¢raining in the areas of work they are interested in as well a5 essential trainSng and skills suth as first aid, child prolectioll. 5af8gu8rdlng and leadership. For many volunte8r$ the YMCA offer5 their first opportunity to experience volunteering. Some volunteers have Come from difficult backgrounds and have faced social exdusion. B8rry YMCA supports the volunteers and encourages tii-.:m to reach their full potential. Page 2 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Slgnlfi¢ant a¢hl¢vements Barry YMCA is a iegistered charity and is ¢onlrolled and directed by a Board ol Klanag8rn8n¢ made up of volunttser trustees an¢J local govemrnent representstives.'fhe Charity has maintained its stronuous efforts to ensure that it remaiils 16nanclally viable and th8r8for8 aL￿e to conts'nue piomding 5erv+c85 for the community. Tts do thk%, the Charity ha5 worked wilh a number of partners, delivering a rang8 of programrnes aThJ activities. Key achi8V8m8nts amongst them a￿- Fundral$ing Successfvl lundraising to ensure servlces continued, Ineluding energy efficiency improvements, ￿venue. gyrnna5ium upgrade, Pre school equipment Upgrade. dvring a vgry difficult perf(Kl ol time. Trusted Standard Self Assessment A5 an affiliated member of YMCA England and Wale5 th8 COfi4p18tion of Ihe Truste(S Standard Self Assessmgnt IS 8 requi￿rnent ol membership. wth the assessment ￿qUired to be completed by 3151 December 2023. The. work Ltndertaken to complete tha 85S85sment was slgnificant did was Complèted pr￿r to th8 deadline. Introduction of New Club Memb&rshlp Software With continuolls improvement in membership 5ervice$ and efficiency the staff team moved all members fr( Loveadmin lo Class Man3ger software. I he new system is more efficient and membeFS have more Control of their membet5hip arKounL Gymna$tlcs Se¢tlon A new gyniriastic timetable was introduced which meant ad(iJtr.onal spaces were made available for children and yout¥J peop18 waitsng tololn the club. Gymnasium Refutblshment YMCA Barry a￿ extremety prtsud to have completed a Significant gymnasium refurbishrnent which has completely iransfomied th8 gym. The rel￿￿lshment included a new floor carpet for the compebl'on floor with th8 old carpet being Cut dom lo size to cover the 5m8ller floor area. New base foam for the pit. new foan7 logs. new colourecs socks to cover the foam to provide a lot of colthur to the gym and Increase the long8vity ol the loam as well as new eladding surrounding the pil area. A new trampdine beij, trarnpoline surround 8s well as a Safety module Installed to cover the metal bar around the trampoline. Finally. new base mats were installe(I undemeath most of the lar9e apparatus. Young Leaders Four young coachès wer8 8CC8Pted onlo the Vale ol Glarr￿an C¢8che5 of the Fvture stherne and aR f￿Jr are curr8ntly completing their level one coaching qualifications through thls Inltiallve. ' by volunteering I have gained rnore confidence and made friends at the YMCA" P•9e 3 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Key achievernenls amongst Ihem ale: Gymnastlcs Se5slons for Ysgol y Derl Ysgol y 08ri Speoal Needs School approa-hed YMCA Barry regarding providing gymnastic5 sessions lor sorne of thelr pupils. After discussitYJ the requirements of Ihe children. 11 was agreed an¢J pupils travelled to YMCA Barry to complete their gymnastlcs 58ssion once a week. The club re¢elved some fufiding to cover the initial set up costs, however, once Ihls ran out, Ihe sessions were hu￿lY sub&dised lo ensure these chlldren continue to access our 88rvices. Over Ihe course of ll-,e year, two diflerent classes have a¢￿sed the gymnastics club and the feedback from the teather5 wa5 fantaskn'c. One te8¢her stated Ihat the Childran were shomng higher levels of cOn￿nIration when they rebjmed to ￿trIcol after gymnasi¢cs. Mgmb¢rshlp YMCA Barry membership increased lo ovvr 1000. Homg Edu¢atlon Classes Home Educated ¢hVdrern and young P80ple continued to have a pemianent slot on the gymn88tics prcgramme. ctsmpotition and Squad ?e5uIts Male Welsh Champion Under 12 Male YMCA gymnasts became We15h Chamixon on every piece ofapparatus Male YMCA orne $8cond in the Under 12 ale YMCA gyrnnèst became Welsh Champw)n Under 14 Male gymnast berame Under 16's Welsh Champion Parallel Bars and Vault Male gymnast became Under 18's Welsh Vault Chams%on Senior male gymnast placed 5ecgnd on the Adult grfllsh cham￿onshIpS ovèr 30's 8nd in￿ted lo represent G￿at 8ritain in the International ¢ompetits"on where the team took fourth place Two gymnasts qualified lo represent Wales, placing 5th and 13 in Britain 33 female gymnasts cornpeted in the Artistic South Cent￿1 p￿parab"on an¢Y Oevelownent grades One female 9yrnna5l placed second trn the Welsh Elite Level 3 CharnpiorTrship5 One female gyrnnast placed sixth in the Welsh Elite Level 4 Championship5 23 female gymnasts placed in the South Central Preparation and Devebpmer+t grades Five female gymnasts placed in the South Central Squad 241 recreational gymnasts competed in an internal club eompetilion 69 cornpeliti.ve gymnasts competed in an Intemal Chrlstrnas themed compètition HNANCIAL REIIIEW Financial positiC*n Total income for the year was £781,35912023'. £586.9091. Total expendlture for lh6 year was £727,78612023'. £576,458). The result lor the year is a nel Income position of £53.573 after arxounting for depreclation charges of £78,145. Page 4 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Res¢r¥¢$ pollcy In the inte￿$t$ of 50ual welfare, to ensure fun¢pS are avai18b18 to Continue the promsion or assist in Ihe provssion, c.f faciliu'es of iecrealion and othgr leisure lime sholild the income levels fall. ReseNes are also required lo meet the fvlu maintenance wogramme for the buildsng, known as The HUB thus ensuring the facllilies offered ale kept to a high standard. A minimal18vel of reserves needs to be retained to ensure that the Irustèas can operate the exit strategy and rnèet their legal commStments shoultj the Charity be unable io Continue dve to a lack of a sustainable incorne 5trearn. Thè Charity is ffn8nclally dependent on receipt of acb'vity income. letting fees and other incorne from trust lunds. The trustees continue to monitor the ongoing financial situation closely during 2023-24, liaising regulady with the ChEf Executive Officer. Over the financial ye8r, the Charity continued to (Jemonstrale sound. effective financial m8na9emenL Thls will continue, and maintaining the viability of YMCA Bary swll be'.J prlorlty during 2024-2025 and beyond. .Unreslricted funds sland at £1,231,079. After accounting for tangib g fixed assets, the Chari¢y currently has no free reserves. The trustee5 81rn lo retain free reserves of circa 3 rnonths operating costs which would currenlly equate to approximately £180,000. FUTURE PLANS Durifig 2024-2025. YMCA Bary is planning furthor to devglop servkes and actNiles for chldren. yovng people and Ihe eommunity by.. Increasino Ihe numbets of children and young people p2rticip8ting in gymn8stycs. Further developing gymna$ti¢s clas$e5 for children with disa￿l￿￿e$. D81ivering high level gymnastics training to c1￿M0nw8alth Gr11nes standard Fundraising and purchaslng new appar8tus for Silvei Stars of (MCA Researching addIt￿nal energy 5aMng proiects that will reduc6 its cost$ and carbon fooWrinL Staff continuing to take up training to advance their personal d&velopment Working with other YMCAS in Wale5 to contribute to more coll6borative working in the luture. Continued strengthenlng and d&vèlopm8nt of existing partnersl)ips STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Th8 charity, registered the Chadty Commission registration numbor 251245, Is govemed by its constitution. Oiganl$atlon The YMCA, an unincorporated body, was forned lo purnue its objects from it5 acceptance of the Basis of Union of Ihe Youn9 Men's Ctr.,:.slian Assooation, then of En918nd, I￿sand and Wales adopted by the British Young Men's Christian Association Assernbfy held in Blmiingham in 19n. The charity ￿ managed by tho trust6es w￿) 8re 81ected by the members In accordan￿ wilh its constitutw al the AnnkRI General Meets'ng. Recrultmènt and appointment ol new trust•è5 New Iruslee5 are appointed from inlere51ed adults who are members of thè chartty tog8ther with ￿PreSenta￿ve& of local uncils. Indu¢tlon and tralnlng of new trustees Trustees a￿ instructed as to the running of the charfty by the profèssional rnanagers and other long serwng tnjstees. The charity is affiliated lo the YMCA England and Wales, which assists in an adwsory capacity. The day to d8y runnlng of the chanty is entrusted to the Chief Executive Officer, Anlhea Clernenls, and other staff metnber5 who are ￿$￿￿)nsIble to the truste85. 80th volunteers atKI trusts98 assist these people In this work. There have been no changes in the aims and objectives du￿ng the year. Related parties Some of the twstees are m6mber5 of the local authorfty that owns Ihe land on which the YMCA building stands. Page 5 8ARRY YOUNG MEN'S CHRISTIAN ASSOCIATION REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DÈTAILS R•g15terod Ch?rtiy number 251245 Prlnelpal addM$8 Court Road Barry Val6 ol Glgmorgan CF63 4EE Trustses G L Oavies K Rtswer$ma L Vlrgl J HS11-Tout J Dent Cllr Emma GoLKllohn Cllr Howard Hamillcn Cllr Naomi Iqar5hallse& Cllr SarKlra Parkos Cllr Ewan Gocyjjohn Chair appointed into post 22.10.23 VSce-Chair appolnted Into po$1 22.1023 Apry)Jntod 26.05.23 R8slgnod 22.1023 y￿aS￿rer until rets'red Repr8senlatfve of Vale DI Gl8morgan Council Representats'va of Vale of Glamorg8n Council Representa&ve of Valo ol Glamorgan Council R&pre88ntsJtsv8 of Barry Town Gouncll Rgpresentative of Barry Town Countil Appointed 22.10.23 Ra51gD&d 22.10.23 Reslgnod 26.0724 Prwrty Trusl••$ L fven8 S Wfjslon President C Elmor¢ S*ntor slaff A C18rnents- Chlef Exècutive S EriGksoTh- GYmllas1￿s Managor T Leavg11- Flnan¢8 and Operatbns Manager Indepondent Examlner MHA Elfed House Oak Troe Court Cardiff Gato BUsIn￿9 Patk CARDIFF CF23 8RS Soll¢llo Glamorgan Law Tho Pavllbn 60 Easlgatg COWBRIOGE CF717AB Bankors Lloyds TSB Barry Docks BARRY Vale ol GlanKrgan Approved ty orderof Iha Board of Trustees on... and si9ll8d on Its tr*half by.. vies Chai Pago 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARRY YOUNG MEN'S CHRISTJAN ASSOCIATION Independent examlner'$ reptsrt to th8 trustees of Barry Young Men's Chrlstlan Assocl?¢lon I report to the charity trustees on rny examination ol the acctsun15 of Barry Young Men's Christian Association (the Trust} for the year ended 31 Marth 2024. Responslbilitles and ba$1$ of report As the charity truste¢s of the Trust you are responsible tha preparalton of the accounts In accordance blith t.he qulrements of the Charities Act 2011 Uthe Act'l. I report in respect ol my examination of the Trusts account5 carried out under Secty'on 145 of the Act and in carrylng out my examinauon I hav& followed all applicable Dlroclions given by the Charity Commlsslon undèr Section 145ISllbl of thè Ind•pond*nt examlner's statement Since your charivs gross incorne exceeded £ASO,000 your examsner must be a member of a listed body, l Can confimi Ihat l arn qualified to undertake the exarnination because l am a member of the ￿sOCiation of Charte￿d Certified Accountsnts. which is one of the listed bodies. I have completed my examination. I confim) that no maleraal matters have come tts rny attention in connectlon ￿1th the examination giving me Cause to believ8 thal in any material ￿Spect.. ac¢ounting records were not kept in ￿pect of the Trust 85 required by Section 130 of tho Act., or thè accounts do not accord with those records.. or the accounts do not comply with the applicable wu1￿MentS ctsncemirlg the forn and content ol accounts Set out in the Charitles IAceounls and Reportsl Regulats'ons 2008 other than any requirement thal the accounts oive a true and fairmew which is not a matter considered as part of an Sndependent 8xafflinalion. I have no concems and have come across no other matter5 In connection with the examlnation to which attention should be drawn in this rewt in order to 8nable a proper under5tandiag of I',18 accounts to be reached. Julia MorUmer FCCA MHA (trading name of Maclntyre Hudson LLPI Limited liability par*ner$hip in England & Wales Registered numl)er OC312313 CARDIFF CF23 8RS Dale:.. Page 7 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total lunds Unreslrict&Y funds Rostricted funds Notes INCOME AND ENDOWMENTS FROM Donation5 and legaci8S 41,933 SS,639 97.572 42,162 Charllable activitles General 629,377 4,936 634,313 506,235 Other trading aclivities Investment Income 45,418 4,056 45.418 4.056 38.25a 254 Total 720,784 60,575 7813S9 586,909 expENDITURE ON Raising funds 27.083 27.083 15,399 Charitable act1v1￿e$ General 657,647 43,056 700 703 561.059 To¢al 684.730 43.056 576.458 NET INCOME Transfers betw¢en funds 36,054 17.519 52,4721 53,573 10,451 23 Net movement In funds 88,526 134.9531 53.573 10.451 RECONCILIATION OF FUNDS Total funds brought forward 1,142,553 1,632,874 2.775,427 2,764,976 TOTAL FUNDS CARRIED FORWARD 1,231.079 1 597,921 2.829,000 2,775,427 The notes form part of these finan￿al statements Page 8 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION BALANCE SHEET 31 MARCH 2Q24 2024 Total funas 2023 Total fijnds Unrestrfcied fund5 Re5trKled funds Notes FIXED ASSET5 Tanoiblo assets 15 1.268,445 1.597,B41 2.efj6,086 2.8S3,693 CURRENT ASSETS sto¢k8 Debtor3 Cash at bank 8nd In hand 16 17 5.638 18,176 211.273 5,£38 32S4 18,176 11,488 181 211,553 ￿11 280 235.087 280 235,38r 201,933 CREDITORS Amounts falIk￿ dug wlthln one year 18 I46￿98) 14e,5981 150,81S1 NET CURRENT ASSETS 188,489 280 188,769 151,318 TOTAL ASSETS LESS CURRENT LIABILFllES 1,456,934 1.597.921 3.054.855 3,005,011 ¢REDifoRS Am¢unt5 falllng duè 8ft8r m¢ye than one year 1225,8551 122S,8551 1229,5841 N￿AsSETs 1231079 1.597 921 2.775 427 FUNDS Unrestrictsd hjnds Restflcted funds 1,231,079 1597.921 .142,553 1832 814 TOTAL FUNDS 2.829 000 2 7T5,427 The finanrial 8lat$ments were •pproved by Ihe B￿rd ef Trusiees and aUt￿Sed for Is$ue on and wore $lgn8d on Ils beh811 by.. (i L Davks- c￿￿1r The notes form part of the88 flnaRclal stslements Page 9 BARRY YOUNG MEN'S GHRISTIAN ASSOCIATION CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatln9 O¢tlvltles Cash 98nerated from operations Interest pald 147,845 18,8571 102,583 12,612 Net C8sh provided by opetating activitie5 129,188 89,971 Cash flows from Investlng aetivltlos Purchase of tarjgible fixed assets Inter8St rgceived 1104,3131 4.056 16,0441 251 Yet eash used in investing actwities 100,2571 Cash ffows from flnanclng a¢fl¥ltles Loan r8payments in year Net cash used in finanang a¢b"vitres Lhange In cash 2nd cash •qulYalènts In the reporting perfod cash and cash equivalent5 at the eglnnlng of the reporting p8rlod 24.342 78,338 187,211 108.673 ash and ¢a$h equlvafents at the end of the reporting perlod 211.553 187,211 The notes fomi pèrt ol Ihese finanual statements Page 10 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income for the reporting period las per the Statement of Flnanclal Aetlvltl•sl Adjustments for.. Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Increase tn stocks (Inc￿a$eydeCrease In debto IDecr8as8yincre8se in creditors 53.573 10,451 78,145 13,775 14,0561 18,657 12.3841 16,7081 77254 12511 12.612 13,2541 4,909 862 Net cash provided by operatlon5 102,583 ANALYSIS OF CHANGE(￿1 IN NET DEBT At 114123 Cash flow At 3113r24 Net Cash Cash at bank and in hand 187211 211.553 187.211 211,553 Debt Debts falling due within 1 year Dèbts falling due 8ft8r 1 year (7.287) 229,584 {6,4271 225.8551 3,729 236.871 4.589 232,282 Total 49,660 28,931 The notes form part of these financlal statements Page 11 BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Bary YMCA is 8 registered charily. registeped in England and Wales. The governing document is Ils con5titvtion, and It is an unincorporated assoualion. The principal address is Court Road. Bary, CF63 4EE. The nature of the charivs operations and principal actNities are disclosed wthin the Report of the Trustees. The financial statements are presented ifi Slerfing l£l. the charity'5 functional currency, and rounded to the n8are51 pound. The significant accounting polici85 appliec in the pr8paration of these financi81 statements are set out bel()w. These policie5 hav8 been conslstenuy èpplied to all years p￿sented Ltnless othenmse slated. ACCOUNTING POLICIES Basis of preparlng (he flnan¢ial statsm8nts The financial statements of the charity h811e been preparod in accordance with Ihe Charities SORP IFRS 1021 'AccOunt￿ng and Reporting by Charities.. Stalernent of Re¢ornmended Practice appli¢atle to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 S1A Update Bulletin 11 (effective 1 January 20191,. Financial Reporting Standard 102 'The FinancAal Reporting Standard appllcable in the UK Republic ol Irelano, and the Charities Act 2011. The eharity has prepared the finanoal statements in accordanee with Accounting and Reporting by Chariles.. statement of Recommended Practice applicable io eharitiè5 preparing IheSr accounts in accordan￿ wth the Financial Reporting Standard 102 in preference to the Acco'Jnting and Repofbng by Charrties.. Statement of Recommended Prdctice issued on 1 April 2005 which is referred to in thè extant regulatlons but has slnc8 been thdrawn. This has been done In order for the attwnts to prThvide a tnje and lair view in a¢cordanee with the Generdlly Accepted A￿unt￿ng Practice efFective lor rpporting pervJds beginning on or aftor 1 January 2015. The financial statements h8ve been p￿pa￿d under the historical cost tonvention. Assets and liabllitie5 are initially recognised at hist0￿Cal c05t of trdnsaclion values unloss othe￿1$e staled in the relevant 8rLovnling policy not8lsl. Bary YMCA meets the dèfinition of a public benefit entity as demonstrated withln the RtpJrt of the Trustees. Thgre have been no rnaterk?I departures frgrn Finanrial Reporting Standard 102. Goiny ¢on¢orn No materi81 uncertainties whlch may cast Significant doubt upon the entitys ability to continue as a gcwng concern 8XlSt. In¢ome 11 incorno is recognised in the Statement of Finan¢ial ACtiv￿eS once the charity has ent￿ernent to the funds, it is prob8ble that the in￿rne will be receiv8d and the amount can be rneasured ￿lIablY. Th4s Include5 capital grants. Donatlon8 %-,Id legaei¢5 income Donations and legacies income includes donations and gifts that provide core funding or 8re of 8 general nature and are recognised where there is entitlement. probability of re￿ipt and the 8mount ran be measured wrth sufficient reliability. Such income is only defer￿d when the donor Specifies il must be used in futur& accounting periods or the donor ha5 impos8d condltions whlch must be met t)efore the charity has unconditional entiUern8nt. Income from ¢harltable aetlvltles Income from charitable 8ctivities includes income received under conlract or whtr8 entitlem9nt io grantfvnding is subject to specific performance conditions. This income is recognised as the related servi¢8s are prDMded and there is entitlement. probability of rec8ipt and the amount can be measured with sufficSent reliability. Inwme Ls d8ferred when the amoutFls received are in advanee of the perfomance ol the servlce or èvent to which they felate. Page 12 continued... BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- Contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued Inetsme from other trading activltles Incorne from other tradirp activities is recognised as tha related seNicos are provi(led and Ih8re is entitlement. probability ol recelpt and the arnount can be meaSU￿d wlh sufficient reliability. Income is deferred when th8 amounts received are in advance ol the deli'ery ol the Service or evenl to which St rejales. Investment Income Investment income is re(y)gni58d on a recefva￿e basis. other Income other inwme is recognised on a receivable basis. Expenditure Liabilities are reo)gnlsed as exp•ndilur8 a5 as Ihere is a legal or eoH5trLtctive obligatFon committing the charity to that expendlture, it Is probzble that a transfer of ecori?mic benefits will be required in settlernenl 8nd the arnount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that 8ggregate 811 ¢osl relalefj lo the eategory. Where costs cannot be direcuy 8ttributect to paiti¢ular heading5, they have been allocated to a¢tNiti8s on a basis ¢onsi8tenl thè us8 of resources. Expenditure on charitable activities comprises those costs incurred by Ihe eharty tn ihe delivery of Ils activities arKI servi￿$ for its benefioaries. It indudes both ¢osts thal can Se alloca18d directly to such a¢llvSth"es and Ih058 costs ol an ii)di¥ect naluT6 necessary to $upp¢yÉ them. Support costs are those costs that, whi15t n8C8ssary to dellver an activlty, do not th8mselvg$ prorjuce or onslilute the output ol the charltable activity- Thss incliides govemants cost5 which are those costs a$$ociated wilh meeting the constitutional and 5tstutory requirements of the charity and include the aC￿Untan¢Y fees and costs linked to th& strategi¢ managernent of the eharity 8$ well as a proportion of salaries based on an approximation Df time spent in this area. Tan9lble Ilxed assets All fixed assets ar8 initially r8tord8d al cosL Indiwdual assèts Costiry £150 or more are capitalised. D8preci8lion is ¢al¢ulated so as to writ8 off the Cost of an asset, less its eslirnate r8sldual value over the useful economic life of the Bsset as follows.. Long leasehold propety Equipment Fixtu￿ and fittings - Over the period of the lease . 15% On ¢osÈ - 1S%oneost stocks Stocks are Valu￿ at the l¢)wer ol c05t and net realisable value. after makin9 due allowance for obsolete slow moving Items. Taxatlon The charity T:. axempt from tax on ts char41able acuvrtles. Fund account5Ftg Unrestricted funds Can be used in accordance with the ¢haritabl8 obj8ctives at Ihe discretion of the trusteès. Restricted funds can only be used lor parucular restricted purposes wthin Ihe objects of the charity. Re&lrlcUons aris8 when $pe¢ifFed by the donor or when funds are raised for particular rèstricted puwe8. Further explanation of Ihe nature and purpose of each fund is induded in the notes lo the financial statements. Operating leasè ¢t>mmtrtm8nts Rentals applicable to operating leases where substantially 811 ol the benefits and iisks of ownershlp remain wi¢h the lessor are charged against profits on a 5traighl line basis over the period of the IEasè. Pag? 13 continued... BARRY YOUNG MEN'S CHRISTtAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THEYEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- eontinued Operatlng lease comrnitments Pension costs and other postwrÈtlr¢nwnt benefits The charity operates a defined contribution pension scheme. Contribution5 payabl8 to the charitsb￿ company pension scheme ar8 charged to the Stalemeiit ol Ftnancial Acbwties in the period to which they relala. Financial instruments The charity only has financial assets and firianrAal liabilities of a knnd that qualify as basic financial instrurnenls. Basic fillan￿81 instruments are initially recognised at transaction value and Subsequently measured at Ihelr 58tt1ern8nt value. Trade debtor5 and other debtors are recognlsed at the sett18fflent amount due and prepayments are valued al tho arnount prepaKI. Creditors a￿ recognised where the rtharity b.as a present 0￿[gat￿n resulting from a past event that VAII probably result in the transfer of funds to a thitd party and the arnount dije lo settle Ihe 01￿19ation can be tneasured or estirnated r8lhqbty. Creditors are normalty recognisgd 8t their settlement amount after allow￿g for any trade discounts due. DONATIONS AND LEGACIES 2024 2023 Donated g(xxJ$15ervi¢e5 Grants 3,240 3,240 38.922 42,162 Donated goodslservices each year represents rent for land not charged Its Bary YMCA. Grants received. Induded in Ihe above, are 8s follows.. 2024 2023 Simon Glbson Charitable Trust YMCA England & W8les- Utili118$ SUPPOrt The Moondance Foundation- energy supptsrt Th8 National . oltery Communty Fund- ener9y efficiency project Barry Town CounrAI- energy 8ffici8ncy projec¢ The Vale of Glarnorgan Council - energy effioency projeet Community Matters Fund. National Grid Electricity Distribution Asda Foundatson- energy support GVS Winter P￿Ssure5 Fund- ener9y efficiency The National Lottery Community Fund- cost of living support Welsh Gymnastics- Gymnasium Efurbishmenl Third Sector'f apltal Fund Gyrnnasiurn refurbishment WCVA- energy efficiency scheme Thir¢J Sector Capitsl grant- Disabllity proteelion aids Sport Wales- Gymnasium refurbSshm&nt Barry Town CoUnc￿- Gymnasium refurbishment 3,000 1,010 3,000 10,000 9,507 1.561 3.000 9.854 2,000 1,965 34,683 5,000 6.452 1,000 802 40,000 1,020 94,332 38.922 Page 14 conbnued... BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 MARCH 2024 OThER TRADING ACTIVITIES 2024 2023 Vending machine 581es Fundraising Cale- ￿ntaI irtome Venue agre8rnent- Cowork LcKal Town Square Spaces Clothing s8195 73,747 10,553 6.295 11,886 6,380 6,140 5.000 8,852 14.823 38.258 INVESTMENT INCOME 2024 2023 Bank interest receSvab 4.056 254 INCOME FROM CHARITABLE AcTIV￿lEs 2024 2023 Grants Adivilies and ?ssouated ineom8 Letting fees Partnership worktng 4,936 2,281 497,986 68.091 391.439 55.022 634.313 S06,235 Grants received, induded In the above. are as folbws.. 2024 2023 Millennium Stadium Charitable Trust.. Pre*school gyrn The Vale ofGlamorgan Coundl- Di5abilsty trainlng Amold Clark Community Fund- Pre-school equipmenl Coaches of the Future- Gymnasltrcs coaching cour588 The Vale ofC.lamorgan Council- Summer of Fun W815h Gymnablics- groh*th of pre-school opportunities Welsh Gymnastics Be Judging Fund- Coach educatio Vale Sport & Play- Inclusion gym project 2.500 660 1,000 518 273 470 1.140 236 400 4,936 2,261 Page 15 tontinued... BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES Yo THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS other tradlng acllvltles 2024 2023 Fundraising costs Vending machine ¢osls Clothing purchases 789 8,621 5,989 12,401 13,842 27,083 CHARITABLE ACTIVITIES COST8 Dir8¢1 Costs Isee note 91 Support sts (see note 101 Totals Gen8r81 675.871 24,832 700 703 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 EM￿oYment Costs Establishment cost5 Repairs. maintenance 8nd cleaning Office expenses Printing, postage & 51alonery other direct Costs Gymnastics administration so￿are COVIO-19 specific costs Travel and subsistence Silver Stars hall hire Promotional rnarketing Bank charggs Bad debts written off Fixed a5sel depreciation Competitlon costs Loss ¢x) fixed ¢￿*Sets wrlttèn off 425,917 65,099 35,382 9,233 3,764 14,171 12.116 340,450 43,761 37,909 8.575 2,953 10,291 9,335 26 2.031 2,381 6.859 1,572 1.031 668 78,145 5,758 13,775 1.180 77.254 6,190 675,871 539.955 10. SUPPORT COSTS Governance costs Other costs Finance Totals General 2,371 24,832 11. INDEPENDENT EXAMINER'S REMUNERA710N 2024 2023 Independent examinat50n fe8 3.804 3,804 Page 16 eonlinued... BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE Y&IR ENDED 31 MARCH 2024 11 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees. remuneration or other benefits for Ihe year ended 31 March 2024 nor for the year ended 31 Marth 2023. Trustees, exp0ns+s There were no tru5tees' expenses paid forthe year ended 31 March 2024 nor for the yearended 31 March 2023. 13. STAFF COSTS 2024 2023 Salaries Social security Pension contributiDn$ 368.661 21,784 35,471 290,587 15,649 425,916 340.450 Average number Olem￿0YeQS 23 19 No employe8 Was paKI more than £60,000 duriTra the ye8r. The total key management personnel remuneration benefits paid during the year was £144.771 12023= £126.22SI. 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES- 31 MARCH 2023 Unrestn'cied fiJnd5 Restricted fund5 Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 18,240 23,922 42,162 Charitable activities General 503.974 2,261 $06,235 Other trading activities Investment inc- Ine 38,258 254 38,258 254 Total 560 726 586.909 EXPENDITURE ON Raising funds 15.399 15,399 Charitable acty iities G8neral 497,666 63,393 561.059 ToLIl 513.065 63.393 576,458 NET INCOMEIIEXPENDtTUREI Transfers between fund8 47.661 1,000 {372101 10.451 N8t movement In fvnds 48,661 138,2101 10.451 RECONCILIATION OF FUNDS Total funds brought forward 1,093,892 1.671.064 2,764,976 TOTAL FUNDS CARRIED FORWARD 1,142.553 1632,874 2.775,427 Page 17 eonlinued.. BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS . ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 15. TANGIBLE FIXED ASSErs Fixtures and ttings Long loasèhold Equipment Totsl8 COST At 1 Apdl 2023 Additions Disposals 3.572.666 511,116 100,472 112,6311 252.565 3,841 4,336.347 104,313 172.631 At 31 March 2024 3,572,666 438.957 256,406 4.268,029 DEPRECIATION Al f April 2023 Charge for year irninated ￿ dlsposal 875,803 49.034 406.619 20,881 158,8561 200.232 8,230 1.482.654 78,145 158,8561 At 31 March 2024 924 837 268 644 208,462 1401,943 NET BOOK VALUE At 31 March 2024 2.647.829 170313 47,944 2 866,086 Al 31 March 2023 2 696,863 104,497 2.853,893 In r&5pect ol the property, the truslees have obtalned a rfjinstatemynt cost assessment lor insurance purposes on 8 day one basis. The value obtained was £7.400,000 al 11 N0Ve￿Iber 2016 8nd th18 is the base sum insured. 16. STOCKS 2024 2023 Clothing stock 5.638 3.254 17. DEBTORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade dèbto Prepayments and accwed Inwm& 43,134 8.283 11.468 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans Isee. Trote 201 Tr8d8 creditors Social security arKJ other taxes Other creditor5 Accruals and dèferred Income 7,287 2,220 5,341 18.260 4,636 5,103 14.139 16.293 46.598 ,675 Included within aecNals and deferred income above is the f(Alowing deferred income.. 2024 2023 Letllng fees 7,364 6.419 7,364 Page 18 continued... BARRY YOUNG MEN'S CHRISTIAN ASSIXIAnoN NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 18. CREDIVORS.. AMOUfft FALLING DUE WITHIN ONE YEAR- ¢C•ntlnued The openitvJ d.ferred incorne of £7.364 was released in full to the Staternent of Finall￿al Activities. The Oelerwed incorne at 31 Nlarch 2024 relates to income received Fn advance of the invoicing period. 19. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans Isee ￿￿te 201 225,855 229,584 20. LOANS An anatysi5 of the maturity of loans 1$ gNen bek)w: 2024 2023 Amounts falling (Sue wthtn one year on demand.. Bank loans 6.427 7,287 Amounts lalling due beiween two and five years: Bank loans 41,243 44,677 Amount5 falling due in more than five years.. Repayable by Énstalments.. Bank loans 184,612 184,907 21. LEASING AGREEMENTS Minimurn lease payments under non" with improving energy efficiency.. The National Loitery Community Pund linslallation new LED fi(¢lngslsensorsl Barry Town Council (LED lights'ny Jnd motion sensors) The Vale of Glarnorgan Council jreplace lighting wth LED panelslPIR sensors) £9,507 £1,561 £3,000 YMCA Barry HUB Warm Spa¢* Fjnding of £9.854 was received frorn the Community Matters Fund- National Elect'Thcity Dislribution towards the Project tilled YMCA Barry HUB Wami Space,. The project op8ned up an area ￿)￿ted on the entrance19wel of the building wherg people could aceess 8 wami and friendly space ￿th no expectation to attend an 8CtDiity. ¢oa¢h Dov•lopmont opportun5tl85 Fundlng of £518 was received from Coaches of the Fulure funding to provide ¢oa¢h development opportunit￿S within Bary YMCA gymnasli¢s club for vjentified individuals as part of Coathes of the Fulure Programme. Summer of Fun The Vale ol Glamoigan Council p8rtnered with various local organisations to creats 8 fun-filled 5cl￿dUl&, packed th free activities for ¢hildren and youi)g people during the summer months. Pre•s¢hool opportunities Funding was provided by W81sh Gyrnnastics towards start-up co￿$ to enablè gTOWth of pre-school opportunltiès. The funding covered the Cost ol courses and pack materkqls. Transfers between funds An arnount of £52,472 has been transferred from the r8Stricted Gymnasium relurbishment proje¢t to thè ￿neral fvnd to Tgfle¢t Ihe pu￿haS0 of fixed assets which resulted in the Testn"¢tion l)eing met 24. EMPLOYEE BENEFIT OBLIGATIONS Th8 charity operates a defined ¢onliibution pension sch9me. The assets of the scheme are held separately from th088 of the charity in Independenlty administered funds. The penslon cost charge represenls conlribulions paKI by the ¢harity to the fund and arnounted to £35.471 12023.. £34,214). Contributions outstsnding 8t the year end amounted to £3,11712023'. £2.8691. 25. CONTINGENT LIABILtriES Fund5 amounting tg £300,000 from BIG Lottery ￿11 have to be repaKI rf the building is sotd or K lh6 u¥e is Gharyed. This covenant will be in lorc8 until 2089. Page 23 continued... BARRY YOUNG MEN'S CHRISTIAN ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 26. RELATED PARTY DISCLOSURES Sorne of the Irust8'35 are members of the k)cal aulhwity that owns the land on which the Luilding stsnds. During the year the charity received services In respect of electrical work assodated with the various energy officyèncy projects und&rtaken & emergeney call-outs by the son of the Chief Executije Officer. A Clernents. lotalling £9,80712023.' £14,351). At th8 year end was no balance otrtstandlng {2023: £NIII. Page 24