2023-03-31-accounts - YMCA Norfolk

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				Pages
Chair's report
Chief Executive Officer's	annual	report
Report ofthe dirertors	)incorporating		Strategic Report)	3 - 14
Auditor's report				15 - 17
Statements of comprehensive		income
Statements offinancial	position			19
Statements ofchanges	in reserves			20
Statement ofcash flows				21
Notes to the financial statements				22-38

Metrics speciRed by the regulator:								Sector
					2022-23	2021-22	2020-21	2022-22
Reinvestment%
investment in housing properties in the year as		a
percentage ofthe gross book value at the year	end				2.1%	2.8%	0.8%	6.5%
2A New supply delivered (social housing units)
The number ofsocial housing units acquired or		developed
in the year as a proportion aftotal social housing			units
owned at the year end					2.1%	0.7%	Nil	5.5%
28 New supply delivered (non-social hausing	units)				Nil	Nil	Nil	ivg
3 Gearing%
Net debt (loans —cash) as a percentage ofthe gross value
af hausing properties					-3.5%	-7.0%	-8.5%	9.1%
4 Earnings before interest, tax, depreciation,		and
amartisation (EBITDA, major repairs included)		interest
cover%
The level ofsurplus generated compared to interest
payable					410%	359%	3,885%	177%
5 Headline social housing cast per unit					E13,995	f13,052	E12,729	615,668
6A Operating margin (social housing lettings only)				%	-0.8%	0.9%	2.3%	5.2%
68 Operating margin (overall) %					-0.3%	-0.7%	27.9%	3.4%
7 Return on capital employed%					-0.2%	-0.4%	11.1%	2.8%
Other YMCA Norfolk value far money targets:				Target
8 Occupancy ofawned and leased properties
				95.0%	93.9%	94,6%	92.2%	93.9%
9 EBITDA%
The level afsurplus generated as a percentage	af
turnover				10.0%	3,4%	3,4%	30.0%	2.0%

			Group	Group	Eliarlt'r	Eliarlt'r
			2023	2022	2023	2022
		Nates	E	6	E
Turnover		1,4	3,178,082	4,534,371	4.797.731	4,109,468
Other operating income				11,798		11,798
Operabng expenditure			(5.208.983)	(4.591.998)	(4,840,349)	(4.259,223)
Operating surplus/(deSclt)			(30,901)	(45,829)	(42,618)	(137,957)
Interest receivable			12,799	887	12,799	887
Interest and financing	costs		(43,607)	143,204)	(43,607)	(43,204)
Surplus/(deficit) for	the year		(61,709)	(88,146)	(73,426)	(180,274(
Net gain/(loss) in respect of pension schemes
Total comprehensive	Income for the year		(61,709)	(88,146)	(73,426)	(180,274(

F Stuart	ICurrey
chair	Treasurer

						Group	Group	Chadity	Chadity
						2023	2022	2023	2022
					Notes	4	E	f	f
Nxed Assets
Tangible		fixed assets			11,14	11,717,293	11,716,156	11,716,078	11,715,497
investments					15	1	1	245,853	245,853
Goodwill					16	35,063	70,124
						11,762,357	11,786,281	11,961,931	11,961,350
Current Assets
Stock						11,034	21.096	10,209	19,971
Trade a	rd other debtors				17	BN,502	432,326	7M,517	343,331
Cash and		cash equivalents				1,366,304	1,768,266	1,097,369	1,551,755
						2,177,840	2,221,68i!	1,608,095	1,915,D57
Credltorsi
Amounts		laging due	witNn one year		ig	(1,356,147)	(1,176.848)	(1.278,493)	(1,116,D85)
Net Current	Assets					821,693	1,044,840	529,602	796,972
Total assets	lera current		gabigties			11,574.050	12,831,121	12,491,S33	12,760,322
Creditors:
Amounts		falling due	after one year		19	(6,687,483)	(6,882,846)	(6,6S7,483)	(6,882,846)
Total net assets						5,886367	5,948,275	52104,050	5,877,476
Reserves
income	and expenditure			reserve		5,881367	5,948,2'75	5,799,050	5,877,476
Restricted		reserves				Sff00		5,000
Total Rererves						5,886567	5,948,275	5,804,050	5,877,476

FiStuart	1Currey
Chair	Treasurer

			income and
			expenditure	Restricted
			reserve	reserve	Total
			6	f	f
GROUP
Balance at 31March	2021		5,886,421	150,000	6,036,421
Total comprehensive	income forthe year		(93,146)	5,000	(88,146)
Release of restricted	capital funds spent	in the year	155,000	(155,000)
Balance at31March	2022		5.948,275		5,948,275
Total compmhensive	income for the year		(66,709)	5,000	(61,709)
Release oi restricted	capital funds spent	in the year
Balance at31March	2023		5,881,566	5,000	5,886,566
Balance at31March	2021		5,907,75D	150,000	6,057,'750
Total comprehensive	income for the year		(185,274)	5,000	(180,274)
Release of restricted	capital funds spent	in the year	155,000	(155,0DD)
Balance at 51March	2022		5,877876		5,877,476
Total comprehensive	income forthe year		(79/26)	5,000	(73,426)
Release ofrestricted	capital funds spent	in the year
Balance at 31March	2023		5,799,050	5,000	5,804,050

										2023	2022
										6	f
Net caah (cnnaumed in) /	generated	from Operating					activities		(aSbelow)	(40,721)	308,836
Cash Sow from investing	a ctivit itss
Purchase oftangible	fixed assets									(29S,313)	(395,256)
Sale oftangible fixed	assets									909
Interest received										12,799	887
Cash flaw fram Rnanclng	activitltes
Interest paid										(35,556)	(36,919)
Repayment of borrowings										(41,080)	(33,598)
last change In cash and cash equilvalents										l401,962)	(156,050)
Cash and cash equivalent	~at beginning		of	the year						1,76S,266	1,924,316
Cash and cash equivalents	at end of	the	year							1,366,M4	1,76S,266
lyet cash flow generated	from operating		activities			Is	calculated		as.
Operating surplus/(degcit)	for the year									(30,901)	(45,$29)
Adjustment for non-cash	items:
Oepreciation oftangible hxed assets										280,750	184,175
Amortisation ofgoodwill										35,061	35.061
Release of deferred capital grants										(99,563)	(97,189)
Adjustment to pension liability on		change			ofdiscount			rate		(16,798)	(29,769)
(Increase)/ decrease	in stocks									10,062	(13,555)
(Increase) / decrease	in trade and	other		debtors						(36S,176)	(95,868)
InCrease / (deCrease)	m trade and	other		creditors						133,326	25$,951
Net (gain) / loss an disposal at tangible				fixed assets						15,518	12,859
Net cash generated from	operating activities									(40,721)	308,836

						Graup and	Charity
Social hausing	income generated		by	accommodation	and	2023	2022
other housing	support					1	6
riant recemabie	excludmg	voids				2,D66,MS	1,969,815
Accommodatian	charges	re supported		lodgings		117,976	139,139
Revenue grants						414,484	352,049
Release afdeferred grant		income	(see	note 21)		95,789	93,401
Other housing	income					196,925	197,986
Total hausing	income before interest			receivable		2,901,177	2,752,390

Turnover			Regulated	iiion-
			5ociai Housing i	Regulated 6	Z023 f	2022
GROUP
			2,901,177	Z,276,905	5,178,082	4,534,371
Other operating income						11,798
Operating expenditure			IZASS,STS)	(2,270ADS)	(5.208,985)	(4,591,998)
Operating surplus	/ (deRsit)		(37,698)	6,797	)30,901)	(45,829)
interest and investment		income		12,799	12,799	887
interest payable			(S,713)	(34,894)	(43,607)	(43,2D4)
Surplus / (deficit)	for the year		l46i411)	(15,29$)	(61,709)	(88,146)
Rent losses from	vaids				233,268113,2D5
CHARITY
Tumaver			2,901,177	1,S96,554	4,797,731	4,109,468
Other aperatmg income						11,798
Operating expenditure			(2,938/ITS)	(1,901,474)	(4.840,349)	(4,259,223)
Operating svrplus	/ (deRclt)		i37,698)	(4,92D)	(42,618)	(137,957)
Interes\ and investment		income		12,799	12,799	687
Interest payable			(8,713)	l34,894)	(43,607)	(43,2D4)
Surplus/(deficit)	for the year		I46,411)	(27,015)	(73,426)	(180,274)
Rent losses fram	voids				133.268	113,205

						2023	2022
						Illumber	Number
Supported housing and lodgings		Owned and rrwnaged				145	142
		Managed		but not owned		65	68
						210	21D
NON-REGULATED GRANT INCOME						Group and	Charity
						2023	2022
						f	F.
Turnover includes the following grants	partly	funding		specific activities:
Big Lottery Fund and European Social	Fund, for On Track					76,639	98,498
Ar8wsh's Educational Foundation, for	Life Ready Norwich					66,671	92.295
Alan Boswell, for Life Ready Great Yamwuth						13.693
Hopestead, For Life Ready Great Yannouth						9,997
Children in Need, for Life Ready Great	Yarmouth						59,419
NHS Nosfotk &Waveney Integrated Care Board,			for SOS Bus			49,730
Weat Iunrfnlk Clinital Cnmmiasionmg	GrouP,	fnr	SOS	Bus			40,175
Norfolk Museums Service, for Kick the	Dust					28,977	29,548
Catton Grave Big Local, Iw youth el~be						13,775	14,426
Active Nonfolk, for various youth activihes						8,663	11,709
One YMCA, Airplay project						35,489	10,514
Lord Cozens-Hardy Trust Rorthe establishment			of YMCA Aylsham		Road f	5.000	5.000
Norwich Cisy Council Grant, for Stepping Stones			cafe				12,000
Douglas Wood Charity, for Life Ready	Great	Yarmouth		Gardening	ProJect		10,563

5.	OPERATING SURPLUS					Group		Charity
						2023	2022	2023	2022
							E	E
	The Operating surpluS ia Stated after		chargmg	/ (crediting):
	Of Pretiation on hooting Propenles					151,189	143,798	151,189	143,798
	Depreciation on other tangible fixed		assets			129,561	140,378	129,405	140,298
	)Gain) / loss on disposals of tangible		fixed assets			15,518	12,859	15318	12,859
	Operating lease agreements					95,232	107,932	95,232	107,932
	Rent lasses from bad debts					14,554	15,285	14454	15,285
	Other bad debts					1,006		1,006
	Auditor's remuneration lincludmg	irrecoverable		VAT):
	auditfees					10.589	10,846		8,526
	non-audit fees					210	100
6.	INTERESTRECEluABLE ANU GTNER		INCOsdg					Group and Charity
								2023	2022
								f	f.
	Interest receivable from deposits							12,799	887
7.	INTEREST PAYABLE AND FBTANQN6 COSTS
	On loans wholly or partly repayable		in mom than five years					35356	36.919
	Interest on liability for pension deficit recovery			payments	)note	23)		8,051	6,285
								43,607	43,204

The remuneratian paid to the	The remuneratian paid to the	CEO is set out below:			Group and	Charity
					2023	2022
						E
CEO Brass salary					61,559	60,956
CEO benefits-in-kind					91	105
CEO employer	pens ian cantributians				3,358	3,098
Total					65,008	64,159
The aggregate	remuneration	for the three (2021-22:four) key management	personnel	(including	the CEO(
charged in the	year was:
Gross salaries					160,022	190.192
Pension contnbutions					15032	16/62

EIYIPLOTEL	COSTS			Group		Charity	Charity
				2D23	2022	2023	2022
				E	5	5	E
Wages and	salaries			2.504,991	2,185,898	2,436/05	2,131,521
Social secunty costs				197.042	16D,047	190,718	155,110
Pension costs: current		employees		181,469	161,522	175,101	156,638
				2g83,502	2,S07,467	2,802,324	2.443,269
The average	number	of emplayees	expressed as full time
equivalerrts	(based an 37.5 hours per week( was			94	91	92	90
The average	number	of full and pais time persons
employed was				126	116	123	113

11.	TANGIBLE FIXEDASSETS	~ HO	USI	NG PRO	PERTIES
	Social housing properties	held	for	letting.					Group and	Charity
									Freehold Property	Total
									E	6
	Cost
	As at 31March 2022								10,434,447	10,434,447
	Additions								222,362	212,362
	Dispose(a								(11,301l	(11,301(
	As at 31Mamh 2023								10,645,508	10,645,5DS
	Depreciation
	As at31 March 2022								1,458,979	1,458.979
	Charge for the year								151,189	151.189
	Eliminated on dlsposals								(4,067(	(4,067(
	As at31March 2023								1,606,101	1,606,101
	Net Booki/slue
	AS at31March 2023								9,039,407	9,039,4D7
	As at31March 2022								8,975,468	8,975,468
									Group and	Charity
									2023	2022
									6	6
	The net book value of housing		properties		pledged	as security		for loan
	liabilities (see note 19(outstanding			at the year end			was:		3,463322	3,516,449
12.	SOCIAL HOUSING GRANT5
	Total accumulated sepal	housing		grant received or			receivable	at 31March.	6,454,581	6,454.581
	Recognised in statement	of comprehensive			income				1,020XI03	914.814
	Held as deferred income								SPI3,978	5,473,471
	Held as Recyded Capital	Grant								66.296
									6854,581	6,454,581
13.	EXPENDITURE ON WORKS TO		EXISTING		HOUSING		PROPERTIES		2023	2022
									6	1
	Amounts capita(ised								59,532	16,357
	Amounts charged to income and expenditure								266,939	206,513
									326ATL	222,870

TANGIBLE RXE	DASSEPi -OTHER
			Furniture
		Freehold	and	Mator
		Property 1	equipment E	vehicles 8	Total 8
CHARITY
Cost
As at31March	20ZZ	2,391,470	877,624	68,145	3,337,239
Acklitions		9,223	66,015		75,238
Disposals			(76,637)		I76.637)
As at31 March	2023	2,400,693	867,002	68,145	3,335,840
Depreciation
As at31March	2022	45,299	505,962	45,949	597,210
Charge larthe year		45,484	79,482	4,439	129,405
Eliminated an dispose la			(67,444)		(67,444)
As at31March	2023	90,783	518,DOO	50,388	659,171
Net Book Value
As at31March	2023	2,309,910	349,002	17,757	2,676,669
As at31 March	2022	2,346,171	371,662	22,196	2,740,D29
GROUP
Cost
As at31 March	2022	2,391,470	878,363	68,145	3,337,97S
Additions		9,223	66,727		75.950
Disposals			(76,637)		(76,637)
As at31March	2023	2,400,693	868,453	6S,145	3,337,291
Depreciation
As at31March	2D22	45,299	506.042	45,949	597,290
Charge far the year		45,484	79,638	4,439	129,561
Eliminated an dispasals			(67,444)		(67,444)
As at31March	2023	90,783	518,236	50.388	659,407
Net BookValue
As at31triarch	2023	2,309,919	350327	17,757	2,677/84
As at31islarch	2022	2,346,171	372,321	22,196	2,740,688

INVESTMENTS	INVESTMENTS				Group		Charity
					2023	Z022	2024	2022
						6	f
Investment	in	subsidiary	undertakings	at cost			245,852	245,852
Other unlisted		investment	-Nonuch	Housing Society Ltd			1	1
Total					1	1	245,653	245,653

GOODWILl		Group
		2023	2022
		f	f
Net book value brought forward		70,124	105,165
Amortisation:	charge for the year	(SS,061)	(35,061)
Net book value		35AI63	70,124

17.	DEBTORS			Group		Charity	Charity
				2023	2022	2023	2022
				E	E	E	E
	Rent and service charges receivable			152,691	156,900	152,691	156.900
	Less Baddebt provision (rental debt)			(52,87CI)	(51,176)	(S2,879)	(51,176)
	Less: Bad debt provision (other debt)			(1,006)		(1,006)
	Revenue grants receivable			500,705	123,951	500,7D5	123,951
	E-Learning trade debtors			126,000	2,006
	Balances due from subsidiary undertaking					28,511	23,357
	Pmpayments and accrued income			39,286	64,852	39,286	64.852
	Other debtors			35.7D5	135.793	33,209	2S,447
				800,502	432,326	700,517	343,331
18.	CREDITORS: AMOUNTS FALLING	DUE WITHIN ONE YEAR
	Trade creditors			122,949	170,231	$6,557	135,899
	Rent and service charges received In advance			81,933	87,930	82 xi33	87,930
	Iaxahon and sacial secunty			!i4,320	85.543	25,994	61.814
	0ther creditors			25,741	14,272	25,741	14,272
	YMCA pension plan deficit contributions		(note 20)	41,723	41,173	41,723	41,173
	Accruals and deferred income			877,534	639,430	874,598	636,728
	Current portion of housing loan			705	642	705	642
	Current portion ay bank lean			41.679	40,438	41679	40.438
	Deferred grant income (note 21)			99563	97.189	99,563	97,189
				1,356,147	1,176,84S	1,27$,493	1,116,085
19.	EREDITORSi AMOUiaTS FaMING	AFTER	MORE THaN ONE	YEAR		Group and	tharlty
	YMCA pension plan deficit contrilxitions		(ncee 20)			200,556	251,598
	Housing loan ta be repaid withm	five years				3,573	3,257
	Housing loan ta be repaid after Five yeses					70,136	71,157
	Bank loan ta be repaid within five years					179,906	174,549
	Bank loan to be repaid after five	years				696.459	743,495
	Deferred grant income (nate 21)					5,536,$53	5,572,494
	Recycled Capital Grant Fund (note 22)						66,296
						6,6877HIS	6,882,846

PERIEION LIABILITY		Group and	charity
		2023	2022
		E	f
Opening balance		292,771	359.142
Contribugons payable	in the year	(41,745)	(42,887l
Ad)ustment on change	in discount rate	(16,798)	(29,769l
Interest on iiabihty		8,051	6,285
		242,279	292,771

			Within	One	totwo	Two tofive	After
			one year E		years f	yearsf	five years f	Totalf
As at 31March 2023			41,723		41,012	1187MB	41,135	242,279
Asat 31March 2022			41,173		41,104	123,914		292,771
DEFERREO GRANT INCOME								Group and	Charity
								2023	2022
								6	5
As at31March 2022								5,669,683	5,634,280
Gant a coui red through	recyc ling							66,296	132,592
ReCOg meed in Statement		Of COmprehenaive		mCOme	- SOCial	housing		(95,789)	(93,401)
Recognised in statement		ofcomprehensive		income	- Other			(3,774)	(3,788)
As at31March 2023								5,636,416	5,669,683
Amounts to be recognised		within	one year					99,563	97.189
Amounts to be recognised		in mare than one		year				5,536.853	5,572,494
								5,636,416	5,669,683

			2023	2022
			Number	Plumber
At beginning	ofthe year		27	23
New members		duriing the year	5
Leavers dunng		the year
At end ofthe		year		27

Land and buildings:				2023	2022
				6
Leases with non-cancegable	periods	expiring	not tater than one year	45,092	38,790
Leases with non-cancegable	periods	expiring	later than one year and not later than five years	21,126	18,413
Leases with non cancegable	penods	expiring	later than five years	44,400
				110,618	57,203

				Asat	Cash	Other	As at
				31March	flows	non-cash	31March
				2022		movements	2023
				6	6	6	6
Cash				1,768,266	(401,962)		1,366,304
Loans	due	withm	one year	(41,080)	(1,304)		(42,584)
Loans	due	after	one year	(992,458)	42,384		(950,074]
				734,728	(360,882)

									2023	Z022	2023	2022
									(0elicitj for	Surplus for
									the year	the year	Capital and	reserves
									5	6		5
Josiah Vavasseur			YMCA Fund						(4A61)	1,057	37,695	42,066
The Norwich		Lads'	Club						(16,672(	4,430	157,333	176,060
FINANOAL		INSTRUMENTS
The group's		financial		instruments			may	be analysed	as follows:
											2023	2021
											E	1
Financial	assets:
Financial	assets measured				at	arnom'sed		cost			1,592,116	1,875,396
Financial	liabilities:
Financial	liabihties		measured			at	amortised cost				1,197,340	1,291,699