ymca england annual report 2008/09
DESCRIPTION
Client: YMCA England ; Audience: Charity Commission, Housing Corporation, local YMCAs, funders; Aim: project manage the production of YMCA England's Annual Report & Accounts; Role: Project Manager - working with all departments (particularly finance) to ensure a high quality, accurate document which is SORP compliant and meets other Charity Commission and Housing Corporation requirements.TRANSCRIPT
YMCA ENGLANDNational Council of Young Men’s Christian Associations (Incorporated)
Annual Report & Accounts2008/09
ENGLAND
Contents
3 WhatWeDo
4 WelcomefromtheChair
BoardofTrustees’Report
6 YMCAEnglandin2008/09
13 Campaigns,CommunicationsandFundraisingReview
14 LookingAhead
15 FinancialReview
19 OurOrganisation
25 TrusteesandAdvisors
IndependentAuditors’Report
29 ReportfromPKF(UK)LLP,RegisteredAuditors
FinancialStatements
34 ConsolidatedStatementofFinancialActivities
35 StatutoryIncomeandExpenditureAccountand StatementofTotalRecognisedGains
36 BalanceSheets
37-38 ConsolidatedCashflowStatement
39-40 AccountingPolicies
41-55 NotestotheFinancialStatements
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Annual Report & Accounts 2008/09 YMCA England
Wha
t W
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WhatWeDo
YMCAEnglandworkstosupport,representandempowerYMCAsalloverEngland,helpingthemtransformcommunitiessothatallyoungpeoplecantrulybelong,contributeandthrive.Wearepartoftheworld’slargestyouthcharity,witharound45millionmembersin124countries.
ByworkingwithYMCAswhounderstandlocalissues,theYMCAMovementinEnglandmeetstherealneedsofyoungpeople,supportingtheminawaywhichisnationallysignificantbutlocallyrelevant.Together,we’rehelpingyoungpeoplebuildafuture.BecauseatYMCAEngland,webelievethateveryyoungpersonshouldhavetheopportunitytogrowandachieve.
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Welcom
e from the C
hair
WelcomefromtheChair
WelcometoYMCAEngland’sAnnualReport2008/09.
Thepastyearhasbeenexcitingandrewarding,yetchallengingaswell.
Excitingandrewardingthatwehaveincreasingclarityaroundourroleandfunctionandchallengingtoenterayearoftransitionwithinaclimateofeconomicdownturn.YetIampleasedthatwehavebeenabletodeliveronmanyofourpromisesduringtheperiod.
ClarityhascomefromaMovement-wideconsultationoverthelasttwelvemonths,withinwhichwehaveaskedYMCAswhattheywantfromYMCAEnglandandtoidentifythemajorissuesthatweneedtoaddresstogether.TheBoardofTrustees’recommendationstothis“MovementConversation”hasseenanewstrategyforYMCAEnglandbeingdevelopedduringsummer2009.
IamthankfultoIanGreenforundertakingthisconsultationanddelightedthatIanhassubsequentlybeenappointedasYMCAEngland’sChiefExecutivetodevelopandimplementthestrategy.
Ihavealsobeenimpressedbythewayourseniormanagementteam,staffandvolunteershaverisentothechallengesoftheyear.Therehavebeensomedifficultcircumstancestodealwithandharddecisionstomakeduringtheperiod.IapplaudtheYMCAEnglandteamfortheirtirelessendeavoursduringtheyearandwouldliketothankthemonbehalfoftheBoardofTrusteesfortheircontinuedenthusiasm,commitmentanddedication.
Iwouldliketopaytributetothesupportthatourpresident,DrJohnSentamu,ArchbishopforYorkcontinuestogiveus,despitehisbusyschedule,providinganationalprofileandspecificallysupportingourfundraisingandpolicywork.
Iamhugelygratefulforthegenerosityofsupporterswho,throughatimeofglobalrecession,havedemonstratedthathelpingyoungpeoplebuildafutureisstillvitallyimportant.Theyshareourvisionthatyoungpeoplecantrulybelong,contributeandthriveinourcommunities.
Iwasthrilledtohearaboutoneyoungpersonwho’sclearlythriving,NorthStaffordshire’sToniCowans,whohasexperiencedtheYMCAasaresident,
volunteer,staffmemberandasaNationalAssemblycommitteemember.
Toniwasrecognisedas“YoungActivistoftheYear”bytheSheilaMcKechnieFoundation,aftershesuccessfullymobilisedYMCAswithhercampaigntoraiseawarenessofHIV/AIDS.Tonireceivedherwell-deservedawardfromGordonBrownataceremonyat10DowningStreetinJuly2008.
Anotherhighlightoftheyearforme,wasbeingabletopresentthefirsteverInsyncStandardsAccreditationtoLiverpoolYMCAatNationalAssembly.TheAccreditationisafittingrewardforLiverpool’sprovisionofqualityservicesandtheircommitmenttocontinuousimprovement.
Iamalsoproudthatwehavebeenabletofurtherdemonstrateourcommitmenttoyoungpeople’sparticipationinourwork,withyoungconsultantsbeingappointedtothemyplaceprogramme,residentselectedontotheNationalTenant’sForumandyoutheditorsandcontributorsdevelopingthenewY-BaseMagazine.
Thepastyearhasprovidedexcellentfoundationsforallourambitions.Atitsheart,theYMCAisarelationalorganisationand2008-09hasstrengthenedthoserelationshipsforcommonpurpose.
Lookingahead,theabilitytoreachourpotentialasaMovementisinourownhandsandIamgenuinelyexcitedbytheincreasingcooperationacrosstheYMCAMovementinEnglandwhichwillmakearealdifferencetothelivesofyoungpeople.
TimWaldron
Board of Trustees’ Report
Review of the Year
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TodaytheneedfortheYMCAinEnglandisgreaterthanever:
• ThenumberofyoungpeopleNotinEmployment,EducationorTraining(NEET)hasrisentojustunderonemillion;
• Everyyearthousandsofyoungpeopleleavehomebeforetheyreach18,manybecominghomeless,sleepingroughormovingfromoneformoftemporaryaccommodationtoanother.Thebreakdownoffamilyunitshasbeenidentifiedasthemaintriggerforhomelessnessamong16–17-year-olds;
• Thenumberofunder-18sincustodystandsatover2,500.Statisticsshowthat80%ofthoseyoungpeoplewillre-offendwithintwoyears;
• IntheUK,27%ofchildrenarenowoverweightandthenumberofunder-18sbeingprescribedweightlossdrugsrose15-foldbetween1999and2006.
YMCAEnglandsupports,representsandempowersaround135YMCAsinprovidingprofessionalandrelevantservicestoyoungpeopleinover250communities.
YMCAEngland’sworkhasthreeobjectives
• TosupportYMCAsbypromotinghighstandardsofworking,sharingbestpracticeandfundraisingontheirbehalf;
• TorepresentYMCAstoregionalandnationalgovernment,themediaandthepublic;
• ToempowerYMCAs’work,partneringwiththemtopilotnewprojects,andprovidetrainingopportunitiesfortheirstaffandvolunteers.
HowYMCAEnglandachievesthis
Ourcharitableactivitiesfallunderthreeheadings:
1. WorkwithandforMemberYMCAs
2. HousingandHomelessness
3. WorkwithandforYoungPeople
Throughoutthisreportyouwillfindouthowweperformedagainsttheaimswesetourselvesfor2008/09.
YMCAEnglandin2008/09
For165yearstheYMCAhasadaptedtomeetthespecificneedsofyoungpeopleandtheirfamilies.FromprovidingemergencysupporttoyoungmenonthefrontlinesofWorldWarOnetoworkingwithyoungpeoplecaughtupinthecriminaljusticesystemtoday,YMCAsofferhelpwhenandwhereyoungpeopleneeditmost.
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TheYMCAMovementinEnglandconsistsofaround135autonomousYMCAcharities,whichaffiliatetoYMCAEngland.Inreturn,weprovidethesememberYMCAswithexpertadviceandguidanceinallareasoftheirwork.Wedonotdictatetoourmembershowandwheretheyoperate,butwedonurtureaMovementwhichflourishesthroughgreatrelationships,meaningfulpartnershipsandacommonvisionforyoungpeople.
WeaimedtopromotesustainabilityinmemberYMCAsthroughdevelopmentandfundraising,andmonitorprogress.
YMCAEnglandiscommittedtobuildingcapacityinmemberYMCAssotheycanprovideworldclassservicestoyoungpeopleintheircommunities.Thisyear,weachievedthisinavarietyofways,suchasprovidingadviceandguidanceonstrategicplanninganddelivery,fundraisingdirectlyonbehalfofmemberYMCAsandsharingexpertisesoYMCAscanstrengthentheirownsustainability.
WepaidparticularattentiontoimprovingstandardsofgovernanceatmemberYMCAs,providingthemwithboarddevelopmenttools,trusteerecruitmentandinductionadvice,supportforChairsandcoordinatingvisionandstrategyevents.
WeaimedtostrengthenourlinkswithmemberYMCAsbyofferingfundraisingadviceandservices.
Thisyear,YMCAEnglandlaunchedafundraisingandmarketingforumenablingstafffrommemberYMCAstosharefundraisingideasandengageinjointplanning.ThisforumalsogaveYMCAEnglandstafftheopportunitytorespondtotheneedsofmemberYMCAs,providingfundraisingadviceandtrainingwhererequired.ByfacilitatingstrongnetworksbetweenmemberYMCAstaff,wehavebeenabletoshareknowledgeandbestpractice,anddevelopamoreunitedapproachwithintheYMCAMovement.
Outsidefundraising,wealsomadeitaprioritytoenablememberYMCAstafftogainfrombeingpartoftheYMCAMovementthroughnetworkingevents,regionalconferences,meetingsofChiefExecutivesandChairs,andspecialinterestgroups.
OurAimsandAchievements
1. Work with and for YMCAs
YMCAEnglandexiststosupport,representandempowermemberYMCAs.Bydoingthis,wearemakingsureyoungpeoplealloverthecountryreceiverelevant,meaningfulhelpwhenandwheretheyneeditmost.
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Weaimedtoincreasethesizeofoursupporterbaseandreachayoungermorediverseaudience.
OnlythroughthegenerousdonationsofoursupportersareweabletocontinuesupportingtheincredibleworkoftheYMCAMovementinEngland.Thisyear,weaimedtoincreasethenumberofindividualsdonatingtoourworktoenableustoreachmorevulnerableyoungpeopleinneedofsupport.
OurDirectMarketingTeamperformedwellthisyear,increasingoursupporterbaseby15.3%duringthekeyfundraisingmonthsofNovember2008throughtoMarch2009.Effortstoimprovetheagediversityofoursupporterswerealsoahugesuccess.Inparticular,ourRoomsponsorschemeencouragessupporterstosponsorayoungperson’sstayinaYMCAhostelfor£10amonth.Inaddition,welaunchedanewCaringGiftsrangeinNovember2008,enablingsupporterstobuyagiftfortheirlovedoneswhilecontributingtoourworkinacreativeway.Giftsincludedastreetsurvivalkitworth£15,vocationaltrainingforatroubledteenagerworth£50andashareinaminibuswithdisabledaccessfor£750.Theseinnovativeapproachestomarketingsucceededinattractingayoungerandmorevariedaudience,allowingustoprovidedirectfinancialsupporttotenmemberYMCAs.
WeaimedtouseourYMCAshopstocreateastrongerprofilewithinlocalandregionalmedia.
YMCAEngland’snationalnetworkofshopsprovidesanidealopportunitytogeneratevitalfundsandraiseawarenessofourworkamongthegeneralpublic.Thisyear,weaimedtostrengthenthispublicprofilebytargetingthelocalandregionalmedia.Wenowrunover130YMCAshopsinEnglandandWales.Duringtheyearwesuccessfullyincreasedourmediacoverage,generating71pressarticlesfeaturingYMCAEnglandandourcharityshops.
WeaimedtocompleteaselfassessmentofYMCAEnglandforallcorestandardswithintheInsyncframeworkanddevelopouractionplantoachieveaccreditationin2010.
InordertopromoteexcellencewithintheYMCAMovement,YMCAEnglanddevelopedanaccreditationprocesscalledInsyncStandardsin2004.YMCAsareencouragedtocompletearangeofcoreandservicestandardstoensurethehighestqualityofservicedelivery.YMCAEnglandalsoaspirestoachieveaccreditation,andmadeexcellentprogressinthisareaduringtheyear.Asuccessfulinterimassessmentonthegovernance,clientfocus,cateringandworkingwithyoungpeoplestandardswascompleted.ThetargetdateforInsyncaccreditationhasbeensetfor2011.
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Providinghousingsolutionswhichadequatelymeettheneedsofourresidentsisourhighestpriority.Werecognisethathomelessyoungpeoplerequiremorethanjustabed;theyneedholisticpracticalandemotionalsupportinordertogetbackontheirfeet.That’swhyyou’llfindahugerangeofservicesavailabletoYMCAresidents.Fromcookingandbudget-managementclassestocounselling,recreationalactivitiesandworkexperienceschemes.
Weaimedtoimproveperformancemonitoringandinformationforresidents,andinvolveresidentsinmanagementandgovernancebothnationallyandinourmanagedschemes.
Theneedsofyoungpeopleareourprimaryconcern,andthat’swhyweaimedtoengageresidentsmoreinourhousingwork.Thisyear,weco-optedtwoyoungresidentsontoourDevelopmentandHousingCommittee,givingthemasayinstrategicdecisionmakingwhichaffectshowtheylive.
WealsolaunchedaNationalTenant’sForum,givingresidentsinourmanagedschemestheopportunitytoprovidefeedbackandideasonhowourhousingservicescanbeimproved.
Wearededicatedtomakingsureourresidentsarekeptinformedaboutourperformanceandactivities.InMarch2009,welaunchedY-Base,amagazineforyoungpeoplelivinginYMCAEnglandaccommodation.Usingthestrapline‘createdforyou,byyou’,wearemakingsureyoungpeopletaketheleadontheirmagazine,recruitingayoutheditorialteamandyoutheditortomanagethemagazine’sproduction,andgivingYMCAEnglandresidentstheopportunitytowritearticlesforeachissue.YMCAEngland’sMovementCommunicationsTeamsupportstheyoungpeoplethroughoutthisprocess.
WeaimedtoworktowardsendinginappropriateuseofBed&Breakfastsandotherunsuitableaccommodationforyoungpeople.
WeweresuccessfulinobtainingfundingfromtheDepartmentofCommunitiesandLocalGovernment(DCLG)forajointinitiativewithCentrepointtotackletheissueofteenhomelessnessandthescandalofyoungpeoplebeinghousedinappropriatelyinbed&breakfastaccommodation.
ThefundingwaspartlyusedtoestablishsixYMCAactionlearningcentreswhereYMCAbestpracticesolutionscouldbetrialledandlearningsharedwithotherproviders.Inthe18monthsfollowingtheirlaunch,theYMCAactionlearningcentreshelped1,396teenagers,providingadvice,education,mediationandhousingsolutions.
Followingmonthsofinterviewsandresearch,YMCAEnglandreleasedareportonyouthhomelessnessinDecember2008,whichwasalsofundedbyDCLG.Thereport,Breaking it Down: Developing Whole-Family Approaches to Youth Homelessness,identifieswaysinwhichservicescanbettersupporttheparentsofhomelessteenagers.Onthebackofthereport,YMCAEnglandheldtwonationalconferencesenablingmemberYMCAs,localauthoritiesandotheragenciestoexploreoptionsforreducingyouthhomelessness.
InclosecooperationwithDCLGandCentrepoint,YMCAEnglandalsoestablishedanationalyouthhomelessnesswebsiteatwww.communities.gov.uk/youthhomelessness,whichoffersadvice,guidanceandexamplesofbestpracticeformemberYMCAsandotherexternalorganisations.
OurAimsandAchievements
2. Housing and Homelessness
YMCAEnglandisaregisteredsociallandlord,with30housingschemes(approximately1000bedspaces)aroundthecountry.ThesearemanagedforusbymemberYMCAs.Inaddition,weprovideexpertguidancetomemberYMCAsrunningtheirownhousingschemes,whichamounttoanadditional6000bedspacesinEngland.
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Weaimedtodevelopasuitablestockconditiondatabaseandevaluatetheeffectivenessofresponsivemaintenanceatourmanagedschemes.
Wearecommittedtomakingsureourhousingfacilitiesarekeptinagoodstateofrepair,ensuringourresidentsenjoyacomfortablestayattheYMCA.Weunderstandthatformanyyoungpeoplewhohavenowhereelsetogo,havingawell-equipped,safeenvironmentisincrediblyimportant.
Thisyear,wecommissionedadatabasedetailingtheconditionsofallourmanagedschemes,andareusingthisinformationtocreateaprogrammeforcarryingoutrepairsoverthenext30years.
Ourworkinevaluatinghowresponsivewearetomakingrepairsisstillongoing,butaresidentsurveyfor2008indicatedthat95%ofurgentandroutinerepairswerecompletedwithintargettimeframes.Inaddition,99%ofrespondentsweresatisfiedwiththequalityofourrepairsservice.
WeaimedtomakefurtherbidstotheTenantsServicesAuthorityandotherfundingbodies,andwithYMCAEnglandactingasdeveloper,developandprojectmanageschemesformemberYMCAs.
WesecuredHomesandCommunitiesAgency(HCA)grantsworth£2,431,000tohelpremodelhousingfacilitiesatHaltonandSloughYMCAs.Inaddition,wesecuredfundingtosupportnewcapitaldevelopmentsatBournemouth,Bridgwater,Crewe,NorthStaffordshireandThamesGatewayYMCAs.
WealsocontinuedtorefinethewaywecollectandmonitorourperformanceinformationanddevelopedaninternalbenchmarkingsystemacrossourYMCAmanagedschemes.
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ThroughourWorkingwithYoungPeopleandOffenderServicesUnits,YMCAEnglandsupportsmemberYMCAsindeliveringtheirworkwithandforyoungpeople.
WeaimedtoincreasethecapacityoftheYMCAMovementinEnglandtoworkwithyoungpeoplewithinthejusticesystem.
Asmoreandmoreyoungpeoplegetcaughtupinthecriminaljusticesystem,theYMCAhasrespondedwithaninnovativeapproachtotacklingyouthcrime.Inadditiontoworkingwithyoungpeoplealreadyincustody,theYMCAsupportsyoungpeopleontheirrelease,andundertakespreventativeworkforyoungpeopleatriskofoffendingorre-offending.Wearealsopassionateaboutchallengingtheperceptionofyoungpeoplewiththepublic,mediaandgovernment,recognisingthatwearen’tdealingwithproblemyoungpeople,butyoungpeoplewithproblems.
Thisyear,ourteamofadvisorsprovidedexpertsupport,guidanceandadvicetomemberYMCAsdevelopingworkwithyoungpeoplecaughtupinoffending.WealsodevelopednewresourcestofurthertheworkofmemberYMCAsinthisarea,whichincludedanewwebsiteatwww.osu.ymca.org.uk.
FollowingthesigningofaMemorandumofUnderstandingbetweentheYMCAandtheYouthJusticeBoardin2007,wesuccessfullyfacilitatedthedevelopmentofcloserpartnershipsbetweenmemberYMCAsandtheirlocalYouthOffendingServices.
OurAimsandAchievements
3. Work with and for Young People
YoungpeoplehavebeenattheheartoftheYMCA’sworksinceourinception165yearsago.Sincethen,theYMCAhaslearnttoadaptinaccordancewiththespecificneedsofyoungpeopleintheirlocalcommunities.InEngland,theYMCA’sworkcoverssevenkeyareas:housingandhomelessness;sport,health,exerciseandfitness;crimeandsafety;educationandskills;moneyandwork;citizenshipandpersonaldevelopment,andparentingandfamily.
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Weaimedtoconcludeourextendedschoolsmappingexerciseanddesignplanstotakeforwarditsfindings.
AspartofitsEveryChildMatters(ECM)agenda,thegovernmenthassetoutacoreofferofservicesthatallchildrenshouldbeabletoaccessthroughschoolsby2010.Withcountlessprojectsalreadyinplacearoundthecountry,werecognisedtheYMCA’spotentialroleinhelpingthegovernmentachievethisambitiousagenda.
YMCAEngland’sBEST(BridgingExtendedServicesTogether)projectthereforeaimstosupportmemberYMCAswhoarecurrentlydeliveringorlookingtodeliverextendedservicesintheirarea.Thisyear,wesuccessfullyconcludedamappingexerciseofextendedserviceprovisionwithintheYMCA,andsubsequentlydevelopedatoolkitandwebsitetosupportYMCAsindevelopingthisareaofwork.
YMCAEnglandalsocoordinatedaseriesofregionalconferencesaroundthecountry,facilitatingnetworkingopportunitiesandsharingbestpracticetoensureYMCAsaredeliveringthehighestqualityextendedservicesintheircommunities.
Weaimedtoengagewithover40youngpeopleatour‘ClaimYourVoice’trainingresidentials.
Webelievethatallyoungpeopleshouldhavetheskillsandconfidencetheyneedtospeakupaboutthethingsthatmattertothem.OurClaimYourVoiceprojectencouragesyoungpeoplefromaroundtheYMCAMovementtolearnhowtheycanengageinpoliticalprocesses.
Thisyear,webeatourtargetby250%,sendingover145youngpeopleonourClaimYourVoicetrainingcourseswheretheygainedvaluableskillsinpublicspeakingandlobbying.Inaddition,30youngpeopleagreedtobecomedemocracychampions,leadingdiscussionsontopicsthatmattertoyoungpeopleintheirareas.
Butouryouthinvolvementsuccessesdidn’tstopthere.TheYMCAalsotookaleadingroleinmyplace,amulti-millionpoundgovernmentprogrammetodeliverworldclassplacesforyoungpeople.Aspartofaconsortium,YMCAEnglandwonamyplacenationalsupportcontracttoassistmemberYMCAsandothersuccessfulmyplaceprojectsachieveyouthparticipation.Inresponsetothis,YMCAEnglandhirednineteenyoungconsultants,recognisingthatthosebest-placedtoadviseonyouthparticipationaretheyoungpeoplethemselves.Intotal,eightYMCAswereawarded£30millioninfundingtodevelopworldclassyouthfacilitiesaroundthecountry.
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Campaigns, Communications and Fundraising Review
In name, the YMCA is one of the world’s most recognised not-for-profit brands. At YMCA England, our challenge is to take that recognition further, ensuring the general public are aware of the incredible impact we make on the lives of young people and their communities.
CampaignsThisyear,wecontinuedtogrowtheYMCA’sprofile,particularlyaroundthethemeofyouthjustice.ThroughYMCAEnglandandYCareInternational’sjointcampaign,YouthJusticeinAction,weaccompaniedDaniellaAbbate,a20-year-oldresidentfromKingston&WimbledonYMCA,toGeneva,fortwoweeksofintensivelobbyingattheUnitedNations.Theteamofrepresentatives,whichalsoincludedyoungpeoplefromHonduras,Ireland,SierraLeoneandSouthAfrica,receivedtraininginlobbyingtechniques,beforemeetingwiththeirindividualcountry’sdelegatestosharetheirpersonalexperiencesandtoadvocateforchangestojusticesystemsaroundtheworld.Andincredibly,withourhelp,thesefiveyoungpeoplefromtheYMCAwereabletosuccessfullychangeaUNresolutiononjuvenilejustice,whichincludedlanguageontheimportanceofrehabilitationandreintegrationforformerchildoffenders.
Media RelationsThisyear,over2,800articleswerepublishedinthemediaabouttheYMCA.YMCAEnglandcontinuedtosupportmemberYMCAswiththeirmediastrategiesandregionalcoverage.YMCAEnglandalsoprovidedmediatrainingtoanumberofYMCAsandYMCAstafftobetterequipthemwhenspeakingtothemediaabouttheworkoftheYMCA.AtaFundraisingandCommunicationsConferenceforYMCAstaff,YMCAEnglandalsoprovidedessentialmediatrainingtoYMCAcommunicationsspecialists.
Online CommunicationsWithanewCommunicationsTeaminplace,YMCAEnglandworkedhardtobuildourpublicprofile.Inparticular,wedevelopedastrongpresenceonvarioussocialnetworkingsites,includingFacebookandTwitter,inanefforttobuildmoretwo-way
dialoguearoundourworkandengagewithoursupportersinacreative,cost-effectiveway.YMCAEnglandalsomanages15additionalwebsitesforYMCAEnglanddepartmentsandmemberYMCAs.
FundraisingAlongwithmanyothercharities,weenteredachallengingeconomicperiodin2008,whichhasmadefundraisingparticularlydifficult.However,therapidlygrowingnumberofyoungpeopleNotinEmployment,EducationorTraining(NEET),whichcurrentlystandsataround1million,demonstratesthattheneedforourmembers’servicesisgreaterthanever.
OurFundraisingTeamworkedwith14YMCAsduringtheyear,providingguidanceandadviceonthedevelopmentoftheirfundraisingplans;assistingintherecruitmentoffundraisingstaffandcontinuingtoprovideongoingmentoringsupport.
Wealsoraisedmoneydirectlyforprojectsin15YMCAsacrossthecountry,includingdetachedyouthwork,capitalappeals,aprojectsupportingteenagemums,andaprojectworkingwithyoungpeopleatriskofoffending.
FollowingrequestsfromfundraisersatmemberYMCAs,YMCAEnglanddevelopedaFundraisers’Forum,enablinglikemindedcolleaguestoshareideasanddevelopnewinitiativestoraisemoneyforlocalprojectsandtoincreasetheprofileoftheYMCAasawhole.EightfundraisersmetforthefirsttimeinSeptember2008,andtheforumhassincegrownto18fundraisersrepresenting14YMCAs.
InApril2008,26runnerstooktothestreetsfortheFloraLondonMarathon,raisingover£33,000fortheYMCA’swork.Inaddition,nineadditionalrunnerscompletedtheGreatNorthRuninaidoftheYMCA,raisingalmost£2,000.
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Ouraimsfor2009/10:
Work with and for YMCAsWewillhelpYMCAsbecomemoresustainablebyencouragingwidercollaboration,exploringapproachestopeersupportanddevelopingorganisational‘healthmonitoring’tools.
WewilldevelopmoreopportunitiesfortrainingandnetworkingwithintheYMCAMovement.
WewillcoordinateandfacilitateanationalfundraisingeventonbehalfofparticipatingYMCAs.
WewilltransferthemanagementofYMCAEnglandprisonprojectstolocalYMCAswhoarebest-placedtomeettheneedsofyoungoffendersandex-offendersintheircommunities.
WewillcontinuetoseekfundingonbehalfofYMCAstoimprovetheservicestheyoffertoyoungpeopleandtheircommunities.
Housing and HomelessnessWewillhostaNationalResidents’Conferenceforyoungpeopledrawnfromourmanagedschemes,todeliverablendofconsultation,traininganddevelopmentopportunities.
WewilldevelopanationaltrainingprogrammetomeettheneedsofmemberYMCAswithaccommodation.
WewillcontinuetoseekfundingtosupportthedevelopmentofnewandremodelledYMCAservicesandaccommodation.
Work with and for Young PeopleWewillpromotethedevelopmentofprogrammesandservicesforyoungpeoplebysupportingmemberYMCAsandYMCAEnglandstaffworkingwithyoungpeoplelocally,regionallyandnationally.Inparticular,weaimtosuccessfullydeliverourannualtargetsfortheBEST,StillAimingHigh,ClaimYourVoiceandmyplaceprojects.
WewillcoordinateandtrainYMCAEngland’smyplaceYoungConsultantstosuccessfullysupportprojectsaroundthecountry.
WewilldevelopmeaningfulyouthparticipationwithinYMCAEnglandandtheMovement,through:
• ThecompletionofaYMCAEnglandYouthParticipationStrategy
• InvolvingyoungpeopleinhighprofileexternalandMovementmeetings,conferencesandtrainingsessionsanddevelopingtoolsandresourcestoenablemeaningfulparticipationinsuchevents
• Supportingandprovidingtrainingto200+youngpeople,enablingthemtoengageindecisionmakingintheirorganisations.
To help us achieve these aims:Wewillcontinuetoinvestinthedevelopmentofourstaff,strengtheningourabilitytoattractandretainacommitted,diverseandtalentedteam.
Wewilldevelopourinformationtechnologysystemstoencouragebetterdataexchange.
Wewillmanageourfinancesinordertomaximisetheeffectivenessofourexpenditure.
Wewillimproveinternalandexternalcommunicationstomaximizefundraisingopportunitiesandensureclarityaboutourwork.
LookingAhead
StrategicPlanning
WewillcompleteourconsultationwiththeYMCAMovementtoformulateanewstrategyforYMCAEnglandtobeimplementedfromApril2010.
Board of Trustees’ Report
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ConsolidationIntheseaccountswehavebroughttogethertheresultsofYMCAEnglandwithourfourconnectedsubsidiarycharities:
• DunfordHouseTrust,whichownsDunfordHouse;
• DouglasWoodCharity,whichprovidesfundingforagriculturaltrainingactivities;
• TheYMCATrustFund(knownasTheMovementTrustFund),whichprovidesgrantsandloanstoYMCAs;
• TheRochesterYMCATrustFund,themonies(capitalandrevenue)ofwhicharetobeusedforalteringorextendingYMCAfunctionalpropertyinKentandSussex.
Ourthreesubsidiarytradingcompaniesaredescribedinnote7totheaccounts.
Inordertopreventataxchargearisinginthecharity,subsidiarytradingcompanieswhichGiftAidtheirsurplusestoYMCAEnglandarerequired.Theirindividualperformancesareconsideredtobesatisfactory,giventheoperatingenvironment.OvertimeseveraltrustsandfundshavecomeunderthestewardshipofYMCAEngland.Usuallythesewereforbuildingsortrustswithparticularobjectives,andmostwerenotsignificantandhavesubsequentlyceasedtoexist.However,therearethreegroupsoftruststhatwecontinuetolookafter:
• Truststhatshareouraimsandobjectives,whichareaddedtotheYMCAEnglandfiguresonthefinancialstatementsandincludethesubsidiarycharitieslistedabove;
• WhereYMCAEnglandhasbeenappointedtoactassoleTrusteeofacharityandwelookafteritsassets.TheseareincludedinthefinancialstatementsaspartoftherestrictedTrustandAssociationfundsinnote14;
• WherewehavebeenappointedtoactasTrusteebutwehavenofinancialrelationship.ThisisusuallybecauseaYMCAcannotholdtitledeedsitselfandYMCAEnglandholdsthemastrustee.AsthesearenottheequitablepropertyofYMCAEngland,wedonotincludetheminthefinancialstatements.
Funds and ReservesWehavevariousfundsavailabletofinanceourwork:
Unrestricted FundsThesearefundsthattheBoardisfreetousetosupportourcharitablework.Someofthesefundsareheldintheformoffixedassets(land,buildingsandequipment)thatwedonotcurrentlyintendtosell.Themarketvalueofthesefixedassetsisnotreadilyavailable.
FormatofAccounts
AsaRegisteredSocialLandlord,YMCAEnglandisgovernedbytheregulationsoftheHousingSORP2008(StatementofRecommendedPractice)andtheAccountingRequirementsforRegisteredSocialLandlords(GeneralDetermination2006).
AsaleadingUKcharity,ourBoardofTrusteeshaschosentofollowtheCharitiesSORP2005(AccountingandReportingbyCharities),solongasitdoesnotconflictwiththeHousingSORP.
Asacompanylimitedbyguarantee,wemustfollowtheCompaniesAct1985andapplicableaccountingstandards.Tomeetthetermsofthisact,wehavepreparedaseparateIncomeandExpenditureaccount.TocomplywiththeHousingSORPandtheAccountingRequirementsofRegisteredSocialLandlords,thishasbeenconfiguredtoseparatetheperformanceofhousingandnon-housingactivities.
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Movement in Unrestricted Funds during the YearFollowingthereceiptofanexceptionallegacyof£870,000in2007/08,webudgetedforanoutflowofresourcesof£477,000for2008/9.Theactualperformancewasanoutflowof£1,439,000includinglossesoninvestmentsof£829,000.Theresultwasdisappointingbutreflectedaslightfallinindividualgivingasaresultoftheeconomicclimate.
Free ReservesHavingidentifiedkeyareasofrisk,YMCAEngland’sBoardofTrusteesholdssufficientfreereservesaccordingly,toprovidefinancialstabilityifourincomelevelsorfinancialperformancechanges.TheBoard’stargetforfreereservesisbetweenthreeandsixmonthsofourannualunrestrictedincomeasassessedforrisk(thelikelyvariationinthelevelofourfutureincome).Withourcurrentactivity,thisisequivalenttofreereservesofbetween£1.2millionand£2.5million.At31March2009freereserveswerejustunder£1.3million(2008:£2.1million).
Weexpectthisreservespositiontobebroadlystableinthecomingyearaswemeettheadditionalpaymentsonthepensionscheme,howeverinlightofthenationaleconomicuncertaintyandtheunpredictabilityofsomeofourincomestreams,expenditureisbeingtightlymanagedtominimisetheimpactofanysignificantincomefalls.
Restricted FundsWhilestillmeetingourwiderobjectives,wehavesomefundingthathasrestrictionsonhowitcanbespent.
Ourmainrestrictionsare:
• DunfordHouse,whichhasitsownTrust.AllsurplusesgeneratedbytheworkofDunfordHouseareaddedtotheTrust;
• MovementSupport,whicharemoniesgiventoustosupportspecificactivitieseitheratlocalYMCAsorwithinYMCAEngland,suchasourworkinprisons;
• Capitalprojects,whichismadeupofassetsboughtfromspecificfundraisingactivities.Themajorityofthesefundshavebeentransferredinprioryears;
• TheMovementTrustFund,theHartwoodsideAwardandtheDouglasWoodCharity,thesefundsprovidegrantsandloansforspecifiedpurposes;
• TheRochesterYMCATrustFund,whichmustbeusedtoalterorextendYMCApropertiesinKentandSussex;
• TrustandAssociationfunds–thesearefundsweholdonbehalfofYMCAsthathaveclosedorwhenweholdassetsonbehalfofaspecificTrust.
Movement in Restricted Funds During the YearRestrictedfundsdecreasedby£326,000duringtheyearofwhich£375,000wasduetoinvestmentlosses.ExpenditureonprojectscompletedbyourOffenderServicesUnitduringtheyearhasresultedinareductioninourrestrictedfundsforourprisonsworkleavingabalanceof£289,000tobecarriedforwardto2009/2010.
BirchwoodYMCAclosedduringtheyearand£135,000(net)wastransferredtoYMCAEnglandasarestrictedfundtomeetthepensionliabilitiesofpaststaffmembers.
TheMovementduringtheyearwithineachofourrestrictedfundsisdescribedinmoredetailinnote14oftheaccountsonpage53.
TheBoardconsidersthatwehaveenoughassetstomeetobligationsastheyarise,onboththerestrictedandunrestrictedfunds.
Financial ReviewIncome and Expenditure for the year are set out in detail in the Statement of Financial Activities (SoFA) on page 34.
IncomeOverrecentyears,YMCAEngland,inconsultationwiththeYMCAMovement,hastakenthedecisiontostreamlineitsoperationstoensureourprimaryfocusistosupport,representanddevelopourmemberYMCAsandnotengagedirectlyinservicedelivery.Forthisreason,thebuildingsandoperationsofournationalcentreatLakesideweresoldtoFyldeCoastYMCA,resultinginanexpecteddecreaseof£1.6millionintotalincomefrom2007/8to£19.5million.Thisfigurewasalsoimpactedbyafallinlegacyincomefollowingthereceiptofanexceptionallegacyintheprioryear.
Despitetheeconomicdownturn,ourcharityshops,manyofwhichareoperatedunderprofitsharearrangementswithmemberYMCAs,flourished,increasingtheirturnoverbynearly20%onthepreviousyear.Salesincharityshopsnowaccountforover41%oftotalincomeforYMCAEngland.
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ExpenditureExpenditureoncharitableactivitieshas,asexpected,fallenby£1.2millionfollowingthesaleoftheYMCAnationalcentreatLakeside,buthasrisenintermsofhousingmanagement,legalsupport,ourprisonsworkandgrantstomemberYMCAs.Inordertoscaleupouractivitiesinthefuture,weinvestedanadditional£561,000inrecruitingnewdonors.Inaddition,over£200,000hasbeeninvestedininformationtechnology,financedfromthesaleofinvestments.
Despiteanincreasinglychallengingeconomicenvironment,wedistributedover£500,000tomemberYMCAstosupporttheirworkwithandforyoungpeople.ThisfigurewassupplementedbythebroadrangeofadditionalservicesprovidedforthembyYMCAEnglanddepartments.
Grant Making PolicyTheMovementTrustFundadministersthreefundsfromwhichgrantsaremade:
• TheYMCATrustfundprovidesgrantstoYMCAsinEnglandorWalestostartnewprojects;
• TheHartwoodsideAwardgivesgrantstoYMCAstohelpdisabledstafforvolunteerstotakepartinactivitiessuchastrainingcoursesorconferences;
• TheDouglasWoodcharitygivesgrantstoyoungpeopletotraininagriculture,horticulture,farmingorothersimilaractivities;
Inaddition,theRochesterYMCATrustFundgivesgrantsforalteringorextendingYMCApropertyinKentandSussex.ThistrustfundismanagedbythetrusteesoftheSouthEastRegionalTrustFund.
Investment Policy and PerformanceUnderitsMemorandumandArticlesofAssociation,YMCAEnglandhasthepowertomakeanyinvestmentwhichtheBoardseesfit.However,theBoardofTrusteeshasstatedthatourfundsshouldnotknowinglybeinvestedincompaniesthat:
• Aremajorarmsproducers;or
• Derivesignificantincomefromtheproductionordistributionofpornography;or
• Derivemorethan10%oftheirturnoverfromtheproductionormarketingoftobaccoproducts;or
• Provideloanstothegeneralpublicathighratesofinterestandwhererepaymentsarecollectedweekly.
Theobjectiveofourinvestmentpolicyistoachieveabalancebetweencurrentincomeandlonger-termcapitalgrowth.Theoverallaimistoproduceareturnoverthelongtermof4%perannuminrealterms.Ourunrestrictedinvestmentsaremanagedonadiscretionarybasisbyexternalinvestmentadvisorsandperformanceismonitoredagainstabenchmarkofcharityportfolios.
Ourinvestmentmanagersmusttakesocial,environmentalandethicalconsiderationsintoaccountwhendecidingtoinvestourfundsandforexercisingtherightsattachedtoourinvestments.WehaveinstructedourinvestmentmanagerstovotethroughResearchRecommendationsElectronicVoting(RREV),onthebasisofthefundmanagers’corporategovernanceapproachandacceptingtherecommendationsofRREVwhereverpossible.
Ourunrestrictedfundsassetallocationisasfollows:
Type of asset Benchmark At 31 March 2009
Governmentstocks 30% 31%
Equities(UK) 35% 33.6%
Equities(nonUK) 15% 20.4%
Propertyandothers 15% 12.6%
Cash 5% 2.4%
Duetotheverypoorinvestmentclimate,theaveragetotalinvestmentreturn(capitalplusincome)was-20.7%.Thisperformancewasslightlybelowthebenchmarkhowevertheinvestmentmanagershaveperformedwellinprioryears.
Therestrictedinvestmentsareheldinaportfolioofcommoninvestmentfunds.Theaveragetotalinvestmentreturnwas-14.2%.
TheBoardconsidersthattheperformanceoftheinvestmentmanagerswassatisfactoryinthecircumstances.
Public Benefit Statement
TheBoardhasconsideredthegeneralguidanceonpublicbenefitissuedbytheCharityCommission,hastakendueregardofthatguidanceandissatisfiedthatthecharity’sactivitiesdoprovidewiderpublicbenefit.
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A Worldwide Movement of YMCAsEachYMCAisanindividual,self-governingcharitythataffiliatestoYMCAEngland.Throughthisaffiliation,memberYMCAsbecomepartoftheYMCAMovementinEngland,andpartoftheworldwideallianceofYMCAs.
Organisation Structure YMCAEnglandhastwoofficesinLondonwherethemajorityofourstaffarebased.ThereareadditionalofficesacrossEngland,andafurtherteamworkingatYMCADunfordHouseinWestSussex.AsmallgroupworkdirectlywithyoungpeopleandarebasedinHMPrisons.Over310staffplusapproximately800volunteersalsoworkfromournationwidenetworkof137charityshops.
Ouroperationsareorganisedintodepartments,ofwhichthemainonesinplaceduringtheyearunderreviewwere:
• ChiefExecutive’sOffice(includingtheCompanySecretaryandStandardsUnit)supportstheBoardandcoordinatestheactivitiesofYMCAEngland.TheStandardsUnitpromotesanddevelopsYMCAInsyncStandardsacrosstheMovementtoensurethattheservicesandsupportofferedbyYMCAsisofthehighestquality
• DevelopmentandHousing–supportsMemberYMCAsinthedevelopmentandmanagementofsocialhousingandhomelessnessprojects
• FinanceandCentralServices(includingLegalandConstitutionalAffairs)–providessupportforMemberYMCAsonallaspectsofcharitygovernanceaswellasprovidinginternalservicestoensurethatthecharityoperatesefficientlyandmeetsregulatoryrequirements
• Fundraising(includingShops)–raisesfundsforYMCAEnglandandtheYMCAMovementaswellasprovidingfundraisingadviceandsupporttoYMCAs
• MovementCommunications-ManagestheYMCAbrandanddevelopscommunicationschannelsincludingpublicationsandemailnewslettersforbothmemberYMCAsandYMCAEngland.TheunitmanagestheYMCAMovementwebsite,developswebsitesonbehalfofmemberYMCAsandmanagessocialmediachannelsforYMCAEngland
• NationalCentre–YMCADunfordHouseisaresidentialcentrethatoffers,training,conferenceandsupportfacilities,andotherprogrammes.TheoperationsofYMCALakeside,aformerNationalCentre,weresoldtoFyldeCoastYMCAwitheffectfrommidnighton31March2008
• OffenderServicesUnit–supportsYMCAsindeliveringtheirworkforyoungpeopleinvolvedinthecriminaljusticesystem
• Policy,MediaandResearch–raisesthepublicprofileoftheYMCA,influencesdecisionmakersandprovidesmediasupporttoMemberYMCAs
• Regions–providessupport,adviceandguidancetoYMCAsinareassuchasgovernance,strategicplanning,funding,networkingandleadershipdevelopment
• WorkingwithYoungPeopleUnit–buildscapacitywithinYMCAstodeliverservicestoyoungpeople,withparticularemphasisonraisingtheirprofile,sharingbestpractice,facilitatingnetworksandencouragingandpromotingyouthparticipationandleadership
Structure,StaffandGovernance
The Role of YMCA England
ThefirstYMCAwasfoundedbyGeorgeWilliamsin1844.YMCAEnglandwasestablishedin1882andregisteredasacharityon24September1962.YMCAEnglandisacompanylimitedbyguarantee,aregisteredsociallandlordandaregisteredcharitygovernedbyitsMemorandumandArticlesofAssociation.
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Staff and VolunteersYMCAEnglandreliesontheskillsanddedicationofourstaffinEngland.Wealsooweahugedebtofgratitudetotheeffortsofourvolunteers,whoseenergyandcommitmentisvitaltoourwork.
TheaveragenumberofstaffemployedbyYMCAEnglandduring2008-09was448.Thiswasexactlythesameasin2007/08(seenote3.5formoredetails).
Ourvolunteersmakeanenormouscontributiontoourwork.ThemajorityarebasedinYMCAshopsaroundthecountry,whileothersareinvolvedinfundraising,raisingawarenessofourworkatpubliceventsandcontributingtoourgovernanceonourBoardorcommittees.
InDecember2008welaunchedasurveytoallYMCAEnglandstaffmembers,givingthemtheopportunitytoprovideconstructivefeedbackontheirworkingenvironment.Theseniormanagementteamandothermanagershaveincorporatedactionsarisingfromtheresultsofthissurveyintothe2009/10businessplan.
Equality, Diversity and InclusionInclusivenessisfundamentaltotheethosoftheYMCAMovement.AspartofthatMovement,wehaveawholeheartedcommitmenttowelcomepeopleofotherfaithsandthoseofnone,linkedtoaconfidentidentityasaChristianfaith-basedorganisation.ThisincludesensuringthatdiversityisreflectedstronglywithinourstructuresandthattheservicesandactivitiesmanagedbyYMCAEnglandaredesignedtoprovideequalopportunities.
Anequality,diversityandinclusionstrategywasapprovedbytheBoardinSeptember2008forimplementationfrom1October2008.Thisinvolvestheequalityimpactassessmentofourpoliciesandprocesses,developingtrainingandlearningopportunitiesforourstaffandvolunteers,andconsultingmanyofourstakeholdersonhowweareperforming.TheTrusteesappointedaBoarddiversitychampioninApril2009.
Employment of Disabled PersonsWeoperateanequalopportunitiesemploymentpolicy.Inparticular,wegivefullandfairconsiderationtoapplicationsforemploymentmadebypeoplewhoaredisabledhavingregardtotheirparticularaptitudesandabilities.Wherepossible,wecontinuetheemploymentof,andarrangeappropriatetrainingfor,employeeswhohavebecomedisabledduringtheperiodtheywereemployed.Peoplewhoaredisabledaretreatedinthesamewayasotheremployeeswhentraining,careerdevelopmentandpromotionarebeingconsidered.
Fulldetailsoftheseandourotherpoliciesareavailableonrequestfrom:YMCAEngland640ForestRoadLondonE173DZ.
Risk Management and Internal ControlsYMCAEnglandoperatesariskmanagementprocessinordertoensuretheappropriatestepsaretakentomitigaterisk.
TheBoardofTrusteesisresponsibleforsafeguardingtheassetsofthecharityandtoprovidereasonableassurancethat:
• Thecharityisoperatingefficientlyandeffectively
• Itsassetsaresafeguardedagainstunauthoriseduseordisposition
• ProperrecordsaremaintainedandfinancialinformationusedwithinYMCAEnglandorforpublicationisreliable
• Thecharitycomplieswithrelevantlawsandregulations
Thesystemsofinternalcontrolaredesignedtoprovidereasonable,butnotabsolute,assuranceagainstmaterialmisstatementorloss.
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Theyinclude:
• AstrategicplanandbudgetapprovedbytheBoard
• RegularconsiderationbytheBoardoffinancialresults,variancesfrombudgetsandnonfinancialperformanceindicators
• Delegationofauthorityandsegregationofduties
• IdentificationandmanagementoffinancialrisksbytheBoardandseniormanagement
TheFinanceandAuditCommitteeisresponsibleformonitoringtheeffectivenessofanyinternalandexternalauditandforreviewingourriskmanagementprocesses.
TheBoardoperatesaformalriskmanagementprocesstoassessbusinessrisksandimplementriskmanagementstrategies.Thisinvolvesidentifyingthetypesofrisksweface,prioritisingthemintermsofpotentialimpactandlikelihoodofoccurrence,andidentifyingmeansofmanagingtherisks.AspartofthisprocesstheBoardreceivesregularreportsdetailingmajorrisks;approvesplansfortheimplementationorenhancementofproceduresandpolicieswherethesearerequired;andotherwiseensuresthatappropriatestepsarebeingtakentomanagethekeyrisks.ApprovedactionsareimplementedbyseniormanagerswhoareaccountabletotheBoard.
Thecurrentmostsignificantrisksare:
• Pensionschemeliabilities
• Theimpactoftheeconomicdownturnonfundraisingandgrantincome
• NotcompletingthechangeprocesstoalignourstrategicobjectiveswiththeneedsofmemberYMCAsforgreatereffectiveness.
GovernanceIn2008/09,YMCAEngland’sBoardof20TrusteesguidedYMCAEnglandinitsworkanddevelopment.Trusteesserveforafour-yeartermandmaybere-electedforanotherfouryears.OnceaTrusteehasservedhisorherterm,theymustwaitforayearbeforetheycanstandforre-election.Weholdelectionstofillvacanciesonceayear.
In2008/09,fiveTrusteeswereformallyappointedtotheBoard,twoofwhichwereappointedafterservingascooptees.Inaddition,twoTrusteesresignedandthreeretired.
TheBoardofTrusteeshad7committeesin2008/09:
1. TheArchives GroupmonitorsthemanagementanddevelopmentofthearchivesofYMCAEnglandandtheYMCAMovementinEngland,whicharehousedattheUniversityofBirmingham
2. TheConstitution CommitteeprovidesadviceonthegovernanceofYMCAEnglandandoftheMovement
3. TheDevelopment & Housing CommitteeoverseesthemanagementanddirectionofthedevelopmentworkandhousingofYMCAEngland.Followingasuccessfulrecruitmentprocessduring2008twoYMCAEnglandresidentsnowsitonthecommitteeandinputintoitsdecisions
4. TheDunford House Committeemonitorstheefficientuseoffinancialandhumanresources,andprovidesguidanceandsupporttotheseniormanagementoftheNationalCentre
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5. TheFinance and Audit CommitteeoverseesthemanagementanddirectionofthefinancesofYMCAEngland,monitorstheeffectivenessofinternalandexternalauditandreviewsthecharity’sriskmanagementprocesses.KeyfinancialdecisionsaresubmittedtotheFinanceandAuditCommitteeforconsideration
6. TheHuman Resources CommitteeexercisesthegovernanceresponsibilitiesoftheBoardinrespecttoitsroleasemployerofYMCAEnglandstaff
7. TheStandards Steering GroupdirectsandoverseestheongoingdevelopmentofYMCAInsyncStandards
TheLakeside CommitteeprovidesguidanceandsupporttotheseniormanagementoftheNationalCentreatLakeside.From1April2008thiscommitteereportedtoFyldeCoastYMCA.
Alltheabovecommitteeshavetermsofreferenceandmeetregularly.
InApril2008,DavidBedfordsteppeddownasChairandTimWaldronwaselectedbytheBoardtosucceedhim.AttheAnnualGeneralMeetingin2008,LindaSharpesteppeddownasVice-Chair,asdidourHonoraryTreasurer,ChrisPoulard.JunoHollyhockwaselectedasVice-Chairon26April2008.RogerMills-HickswasappointedHonoraryTreasureron28March2009.
Board members induction and developmentWeholdaninductionsessionforallnewmembersoftheBoardandarrangeforexistingtrusteestomentornewmembers,particularlyofferinghelptosupportthemwiththepapersandprocessoftheirfirstBoardmeeting.Duringthelastyeardevelopmentsessionswereheldforalltrusteesonissuessuchasgovernance,ourworkwithoffendersandtheimplementationofYMCAInsyncstandards.
AtitsBoardmeetingon4July2009,theBoardconsideredtheimpactoftheEconomicDownturnonYMCAEnglandwithreferencetoaCharityCommissionchecklistissuedinJune2009andidentifiedactionstobetakenforward.
TheBoardofTrusteesandtheConstitutionCommitteeiscurrentlycarryingoutacomprehensivegovernancereviewandwillusetheresultsofthatreviewtobecomemoreeffectiveandtoinformongoingtraininganddevelopmentprogrammesforTrustees.
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Statement of the Board of Trustees’ ResponsibilitiesTheBoardofTrusteesisresponsibleforpreparingthereportoftheBoardandthefinancialstatementsinaccordancewithapplicablelawandregulations.
TheBoardisalsoresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyatanytimethefinancialpositionofthecharityandenableittoensurethatthefinancialstatementscomplywiththeCharitiesActs,theCompaniesAct1985andtheHousingAssociationsAct1996.
CompanylawrequirestheBoardtopreparefinancialstatementsforeachfinancialyear.UnderthatlawtheBoardisrequiredtopreparethefinancialstatementsinaccordancewithUKGAAP(UKaccountingstandardsandapplicablelaw).Thefinancialstatementsarerequiredtogiveatrueandfairviewofthestateofaffairsofthecompanyandthegroupandoftheincomingresourcesandapplicationofresourcesofthegroup,includingitsincomeandexpenditure,forthatperiod.Inpreparingthesefinancialstatements,thedirectorsarerequiredto:
• Selectsuitableaccountingpoliciesandthenapplythemconsistently;
• ObservethemethodsandprinciplesintheStatementofRecommendedPractice(SORP),AccountingbyRegisteredSocialLandlordsissuedbytheNationalHousingFederation;
• Makejudgmentsandestimatesthatarereasonableandprudent;
• Statewhetherapplicableaccountingstandardshavebeenfollowed,subjecttoanymaterialdeparturesdisclosedandexplainedinthefinancialstatements;and
• Preparethefinancialstatementsonthegoingconcernbasisunlessitisinappropriatetopresumethatthecompanywillcontinueinbusiness.
TheBoardisresponsibleforkeepingaccountingrecordsthatdisclosewithreasonableaccuracyatanytimethefinancialpositionofthecompanyandthegroupandenablethemtoensurethatthefinancialstatementscomplywiththeCompaniesAct1985.Theyarealsoresponsibleforsafeguardingtheassetsofthecompanyandthegroupandhencefortakingreasonablestepsforthepreventionanddetectionoffraudandotherirregularities.
TheBoardisresponsibleforthemaintenanceandintegrityofthecompanyandfinancialinformationincludedonthecompany’swebsite.LegislationintheUnitedKingdomgoverningthepreparationanddisseminationoffinancialstatementsmaydifferfromlegislationinotherjurisdictions.
ThemembersoftheBoardofTrusteeswhoservedduringtheyear,togetherwiththeChairman,ViceChairman,HonoraryTreasurerandSeniorManagementTeamarelistedonp26.
AuditorsAresolutionforthereappointmentofPKF(UK)LLPwillbeproposedattheforthcomingannualgeneralmeeting.
EachoftheBoardmembers(whoarealsotrusteesanddirectorsofYMCAEngland)hasconfirmedthatsofarastheyareaware,thereisnorelevantauditinformationofwhichtheauditorsareunaware,andthattheyhavetakenallthestepsthattheyoughttohavetakenasadirectorinordertomakethemselvesawareofanyrelevantauditinformationandtoestablishthattheauditorsareawareofthatinformation.
ApprovedbytheBoardofTrusteeson20September2009andsignedonitsbehalfby
Tim Waldron Chair
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President: Dr.JohnSentamu,ArchbishopofYork
Vice-presidents: ColinWilliamsProfessorClydeBinfieldOBE2
RichardPalmerOBE(diedAugust2008)ChrisPoulard(appointed21November2008)1
ValWallisMBE2
BoardMembers:
Chairman: TimWaldron(elected26April2008)1,3
DavidBedford(resigned8April2008)1
Vice-Chairs: JunoHollyhock(elected26April2008)LindaSharpe(retired21November2008)2
Honorary Treasurer: RogerMills-Hicks(appointed28March2009)1
ChrisPoulard(retired21November2008)1
Members: ArkleBell(appointed26April2008)DelroyBeverley4
MattBird(Co-opted–appointed21November2008)TracyBlandfordDianaBradley(appointed26April2008)2
CharlesChadwick(resigned5July2008)RobertCoxJennie-MarieGlover(co-opted-retired21November2008)MartynHaley4
AjithLekshmanan(retired21November2008)3
AnneLinsey(appointed21November2008)SimonMarcelli3
TrevorMorgan1
PaulPlumley(resigned21November2008)2
ChrisPoulard(co-opted21November2008andresigned24April2009)1
SteveClay(appointed14June2008)JohnRockliff1
TimSweeting4
MichaelTalbot2
HaroldWhite(retired21November2008)5
Membership of committees:1FinanceandAudit2HRCommittee3ConstitutionCommittee4HousingandDevelopmentCommittee5LakesideCommittee
AllmembersoftheBoardanditscommitteesgivetheirtimevoluntarilyandreceivenobenefitsfromthecharity.Anyexpensesreclaimedaresetoutinnote3.6totheaccounts.
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Advisors:
Auditors: PKF(UK)LLPFarringdonPlace20FarringdonRoadLondonEC1M3AP
Bankers: BarclaysBankplcCharitiesTeamLevel28,1ChurchillPlaceLondonE145HP
Solicitors: Bates,Wells&BraithwaiteLLP2-6CannonStreetLondonEC4M6YH
Investment Managers: InvestecInvestmentManagementLimited2GreshamStreetLondonEC2V7QP
RensburgSheppardsQuaysideHouseCanalWharfLondonLS115PU
SeniorStaff:
Chief Executive (formerly interim National Secretary): IanGreen(interimsecondmentfromKingston&WimbledonYMCAfrom15July2008andappointedasChiefExecutivefrom1August2009)AngelaSarkisCBE(resigned4April2008)
Company Secretary: JackieWalker
Senior Management Team: JaneBurns(DirectorofFundraising)LindsaySartori(DirectorofFinanceandCentralServices)BobHutchings(InterimDirectorofMovementSupport)to31July2008IanRichardson(Consultant–InterimDirectorofHousing)17December2007to30September2008JohnBrennan(DirectorofHousing-15September2008to20February2009)PaulSmillie(HeadofLegalandConstitutionalAffairs–joinedSMT1January2009)KenLivingstone(SeniorRegionalExecutiveOfficer–joinedSMT1January2009)
Registered Office: 640ForestRoadLondonE173DZ
Independent auditors’ report
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Independentauditors’report
TotheMembersofTheNationalCouncilofYoungMen’sChristianAssociations(Incorporated)
Wehaveauditedthegroupandparentcompanyfinancialstatements(“thefinancialstatements”)oftheNationalCouncilofYoungMen’sChristianAssociations(Incorporated)fortheyearended31March2009whichcomprisetheConsolidatedStatementofFinancialActivities,theStatutoryIncomeandExpenditureAccount,theStatementofTotalRecognisedGainsandLosses,theBalanceSheets,theConsolidatedCashflowStatementandtherelatednotes.Thefinancialstatementshavebeenpreparedundertheaccountingpoliciessetouttherein.
Thisreportismadesolelytothecompany’smembersasabody,inaccordancewithsection235oftheCompaniesAct1985andschedule1totheHousingAct1996.Ourauditworkhasbeenundertakensothatwemightstatetothecompany’smembersthosematterswearerequiredtostatetotheminanauditors’reportandfornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecompanyandthecompany’smembersasabody,forourauditwork,forthisreport,orfortheopinionswehaveformed.
Respective Responsibilities of Board Members and AuditorsTheresponsibilitiesoftheMembersoftheBoard(whoarealsothedirectorsoftheNationalCouncilofYoungMen’sChristianAssociations(Incorporated))forpreparingtheReportoftheBoardandthefinancialstatementsinaccordancewithapplicablelawandUnitedKingdomaccountingstandards(‘UnitedKingdomGenerallyAcceptedAccountingPractice’)aresetoutinthestatementofdirectors’responsibilities.
OurresponsibilityistoauditthefinancialstatementsinaccordancewithrelevantlegalandregulatoryrequirementsandInternationalStandardsonAuditing(UKandIreland).
WereporttoyououropinionastowhetherthefinancialstatementsgiveatrueandfairviewandhavebeenproperlypreparedinaccordancewiththeCompaniesAct1985,schedule1totheHousingAct1996andtheAccountingRequirementsforRegisteredSocialLandlordsGeneralDetermination2006.Wealsoreporttoyouwhether,inouropinion,theinformationgivenintheBoardofTrustees’reportisconsistentwiththefinancialstatements.
Inaddition,wereporttoyouif,inouropinion,thecompanyhasnotkeptproperaccountingrecords,ifthecompany’sfinancialstatementsarenotinagreementwiththoseaccountingrecords,ifwehavenotreceivedalltheinformationandexplanationswerequireforouraudit,orifinformationspecifiedbylawregardingdirectors’remunerationandothertransactionsisnotdisclosed.
Wereadotherinformationcontainedintheannualreportandconsiderwhetheritisconsistentwiththeauditedfinancialstatements.Theotherinformationcomprisesonlythedirectors’reportandthechairman’sreport.Weconsidertheimplicationsforourreportifwebecomeawareofanyapparentmisstatementsormaterialinconsistencieswiththefinancialstatements.Ourresponsibilitiesdonotextendtoanyotherinformation.
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Basis of Audit OpinionWeconductedourauditinaccordancewithInternationalStandardsonAuditing(UKandIreland)issuedbytheAuditingPracticesBoard.Anauditincludesexamination,onatestbasis,ofevidencerelevanttotheamountsanddisclosuresinthefinancialstatements.Italsoincludesanassessmentofthesignificantestimatesandjudgmentsmadebythedirectorsinthepreparationofthefinancialstatements,andofwhethertheaccountingpoliciesareappropriatetothegroup’sandtheparentcompany’scircumstances,consistentlyappliedandadequatelydisclosed.
Weplannedandperformedourauditsoastoobtainalltheinformationandexplanationsweconsiderednecessaryinordertoprovideuswithsufficientevidencetogivereasonableassurancethatthefinancialstatementsarefreefrommaterialmisstatement,whethercausedbyfraudorotherirregularityorerror.Informingouropinionwealsoevaluatedtheoveralladequacyofthepresentationofinformationinthefinancialstatements.
OpinionInouropinion:
• thefinancialstatementsgiveatrueandfairview,inaccordancewithUnitedKingdomGenerallyAcceptedAccountingPractice,ofthestateofthecharitablecompany’sandthegroup’saffairsasat31March2009andofthegroup’sdeficit,incomingresourcesandapplicationofresourcesincludingitsincomeandexpenditure,fortheyearthenended;
• thefinancialstatementshavebeenproperlypreparedinaccordancewiththeCompaniesAct1985,schedule1totheHousingAct1996andtheAccountingRequirementsforRegisteredSocialLandlordsGeneralDetermination2006;and
• theinformationgivenintheBoardofTrustees’reportisconsistentwiththefinancialstatements.
PKF (UK) LLPRegisteredauditors
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Financial Statements
YMCA England Annual Report & Accounts 2008/09
2009 2008
Note UNRESTRICTED
£’000 RESTRICTED
£’000 TOTAL £’000
TOTAL £’000
INCOMINGRESOURCES
Incomingresourcesfromgeneratedfunds:
Voluntaryincome 2.1 2,801 645 3,446 5,027
Affiliationfees 2.2 593 - 593 561
Activitiesforgeneratingfunds 2.3 8,375 434 8,809 7,798
Investments,interestandrentalincome 2.4 247 121 368 402
12,016 1,200 13,216 13,788
Incomingresourcesfromcharitableactivities: 2.5
Housingandhomelessness 4,663 - 4,663 4,467
Workwithandforyoungpeople 254 - 254 1,919
WorkwithandformemberYMCAs 1,239 94 1,333 949
6,156 94 6,250 7,335
TOTALINCOMINGRESOURCES 18,172 1,294 19,466 21,123
RESOURCESEXPENDED
Costsofgeneratingfunds: 3.1
Costsofgeneratingvoluntaryincome 1,411 - 1,411 1,330
Operatingcostsofactivitiesforgeneratingfunds 7,853 172 8,025 6,909
Investmentmanagementcosts 13 - 13 17
9,277 172 9,449 8,256
CharitableActivities: 3.2
WorkwithandformemberYMCAs 4,167 615 4,782 4,262
Housingandhomelessness 4,816 117 4,933 4,554
Workwithandforyoungpeople 351 341 692 699
YMCANationalCentre,Lakeside - - - 2,123
9,334 1,073 10,407 11,638
Governancecosts 3.3 171 - 171 140
TOTALRESOURCESEXPENDED 18,782 1,245 20,027 20,034
NET(EXPENDITURE)INCOMEFORTHEYEAR (610) 49 (561) 1,089
Netlossesoninvestmentassets 10.1 (829) (375) (1,204) (388)
NETMOVEMENTINFUNDS (1,439) (326) (1,765) 701
Transferofrestrictedfundassets - - - (1,397)
Fundbalancesat1April2008 6,850 3,238 10,088 10,784
FUNDBALANCESAT31MARCH2009 5,411 2,912 8,323 10,088
COMMENTARY:Voluntaryincomehasfallenintheyearevenafterallowingforanexceptionallegacyof£870kin2007/8.TherehasbeenasignificantexpansionoftheShopsoperationto137shopsattheyearend,whichhasresultedinanincreaseinthefiguresforgeneratedincomeandalsothecostsofgeneratingfunds.
ThereductionintheincomeandexpenditureonworkingwithyoungpeoplearisesfromthesaleofthebuildingsandtheoperationsatYMCALakesidetoFyldeCoastYMCA.
TheexpendituretotalforworkwithYMCAsincludesover£0.5mdistributedtolocalYMCAs,inadditiontotheservicesprovidedtolocalYMCAs.
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Housing Non-housing Housing Non-housing
Operations operations TOTAL Operations operations Discontinued TOTAL
Note £’000 £’000 £’000 £’000 £’000 £’000 £’000
Income 4,690 14,408 19,098 4,379 14,092 2,250 20,721
OperatingCosts (4,373) (15,282) (19,655) (4,047) (13,143) (2,466) (19,656)
Operatingsurplus(deficit) 317 (874) (557) 332 949 (216) 1,065
Investmentincome 4. - 265 265 - 273 - 273
Interestandrentsreceivable 4. - 103 103 - 129 - 129
Interestpayable 4. (330) (42) (372) (354) (3) (21) (378)
(Loss)onsaleofinvestments - (176) (176) - (85) - (85)
(DEFICIT)SURPLUSFORTHEYEAR (13) (724) (737) (22) 1,263 (237) 1,004
STATEMENTOFTOTALRECOGNISED
GAINSANDLOSSES
Transferofrestrictedfundassets 14 - (1,397)
Unrealised(losses)onmarketvalueofinvestments (1,028) (303)
TOTALRECOGNISEDGAINSANDLOSSESSINCE
THELASTANNUALREPORT (1,765) (696)
HISTORICALCOST(DEFICIT)SURPLUS
(Deficit)surplusfortheyear (737) 1,004
Realisedgainonsaleofinvestments 22 238
HISTORICALCOST(DEFICIT)SURPLUSFORTHEYEAR (715) 1,242
TheseaccountswereapprovedandauthorisedforissuebytheBoardon20September2009.
Tim Waldron Roger Mills-Hicks Chairman Treasurer
COMMENTARY:ThispageshowstheresultsforYMCAEnglandintheformatrequiredbytheCompaniesAct1985.Italsoseparatestheresultofhousingactivitiesfromtheresultofnon-housingactivitiesasrequiredbytheAccountingRegulationsforRegisteredSocialLandlords.
ThediscontinuedactivitiesintheprioryeararethesaleofthebuildingsandtheoperationsatYMCANationalCentre,LakesidetoFyldeCoastYMCA
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Note
Unrestricted Funds £’000
Restricted Funds £’000
GROUP TOTAL £’000
PARENT £’000
Unrestricted Funds £’000
Restricted Funds £’000
GROUP TOTAL £’000
PARENT £’000
FIXEDASSETS
TangibleAssets:
Housingassets 6.1 6,951 - 6,951 6,951 7,042 - 7,042 7,042
Othertangibleassets 6.2 868 199 1,067 1,067 766 204 970 970
Fixedassetinvestments 10. - 2,200 2,200 2,200 - 2,539 2,539 2,539
Investmentsinsubsidiaries 7. - - - 3 - - - 3
7,819 2,399 10,218 10,221 7,808 2,743 10,551 10,554
CURRENTASSETS
Stocks 8. 182 5 187 28 98 5 103 15
Debtors 9. 3,234 25 3,259 3,468 2,972 17 2,989 3,131
Investments 10.1 2,984 - 2,984 2,984 4,089 - 4,089 4,089
Shorttermdeposits 10.2 86 - 86 86 361 - 361 361
Cashatbankandinhand 118 - 118 118 78 585 663 480
6,604 30 6,634 6,684 7,598 607 8,205 8,076
CREDITORS:Amountsfalling
duewithinoneyear 11. (3,920) 483 (3,437) (3,490) (3,351) (112) (3,463) (3,337)
NETCURRENTASSETS 2,684 513 3,197 3,194 4,247 495 4,742 4,739
TOTALASSETSLESS
CURRENTLIABILITIES 10,503 2,912 13,415 13,415 12,055 3,238 15,293 15,293
CREDITORS:Amountsfalling
dueafteroneyear 12. (5,092) - (5,092) (5,092) (5,205) - (5,205) (5,205)
5,411 2,912 8,323 8,323 6,850 3,238 10,088 10,088
Thefundsofthecharity:
RestrictedFunds(page36) 14. - 2,912 2,912 2,912 - 3,238 3,238 3,238
UnrestrictedFunds(page36) 15. 5,411 - 5,411 5,411 6,850 - 6,850 6,850
5,411 2,912 8,323 8,323 6,850 3,238 10,088 10,088
TheseaccountswereapprovedandauthorisedforissuebytheBoardon20September2009.
Tim Waldron Roger Mills-HicksChairman Treasurer
COMMENTARY:Thedecreaseininvestmentsarisespartlyfromtherealisationoffundsduringtheyearandpartlyduetofallsinthemarketvalueofinvestmentsheldattheyearend.
Aswereceiveaproportionofcapitaldevelopmentgrantsinadvanceofprojectscommencingandthefinalpercentageoncompletion,thiswouldnormallyenableourbankbalancestoremainincreditasnewprojectsstartbeforeearlieronesend.Howeverthedelaysinthereceiptofnewgrantsuntilearly2009/10andmanageddelaysincompletion,meantthatbankbalancesfellintooverdraft.
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Note £’000 £’000 £’000 £’000
NETCASH(OUTFLOW)INFLOWFROMOPERATINGACTIVITIES 1. (411) 914
RETURNSONINVESTMENTSANDSERVICINGOFFINANCE
Investmentincome 265 273
Interestreceived 48 68
Interestpaid (372) (375)
Netcashoutflowfromreturnsoninvestmentsandservicingoffinance (59) (34)
CAPITALEXPENDITUREANDFINANCING
Onhousingassets:
Housingproperties (2,077) (749)
Capitalgrantsreceived 902 1,566
Repaymentofhousingloans (84) (80)
Netcash(outflow)inflowfromhousingassets (1,259) 737
Onotherassets:
Fixedassetspurchased (462) (342)
Bankloanrepaid - (285)
Netcash(outflow)inflowfromcapitalassets (1,721) 110
(2,191) 990MANAGEMENTOFLIQUIDRESOURCES
Trust&AssociationandMovementTrustFundinvestments:
Proceedsfromsaleofinvestments 100 -
Investmentspurchased - (7)
Decreaseinfundsonshorttermdeposit (136) (21)
YMCAEnglandinvestments:
Proceedsfromsaleofinvestments 1,611 1,574
Investmentspurchased (1,335) (1,365)
Fundsfrom(to)shorttermdeposits 275 (279)
Netcashinflow(outflow)frommanagementofliquidresources 515 (98)
(DECREASE) INCREASE IN CASH BALANCES (1,676) 892
RECONCILIATIONOFNETCASHFLOWTOMOVEMENTINNETFUNDS
(Decrease)increaseincashbalances (1,676) 892
Decreaseinloans 84 365
Decreaseincurrentassetinvestments (1,380) (131)
Changeinnetfunds (2,972) 1,126Netdebtat1April (165) (1,291)
Netdebtat31March 2. (3,137) (165)
COMMENTARY:YMCAEnglandhasinvestedover£2minitshousingpropertiesmainlyfinancedby£902kofnewhousinggrantsandafurther£564kfromgrantsreceivedinadvanceinprioryears.Inadditionalmost£0.5mhasbeeninvestedinotherfixedassets(includingover£200kinITequipment)financedfromthesaleofinvestments.
Thiscapitalexpendituretogetherwithanetoperatingoutflowoffundsof£411kandtheunrealisedreductionof£829kinmarketvalueoftheinvestmentshasresultedintheinceaseinnetdebt.
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1. RECONCILIATIONOFNET(EXPENDITURE)FORTHEYEARTONETCASH(OUTFLOW)INFLOWFROMOPERATINGACTIVITIES
31 March 2009 31 March 2008
£’000 £’000
Net(outflow)inflowofresourcesfortheyear(page34) (561) 1,089
Disposaloffixedassets 1 228
Depreciationcharge 488 540
Returnoninvestmentsandservicingoffinance 59 34
(Increase)instocks (84) (16)
Decrease(increase)indebtors 308 (1,536)
(Decrease)increaseincreditorsanddeferredcreditors (622) 575
NETCASH(OUTFLOW)INFLOWFROMOPERATINGACTIVITIES (411) 914
2. ANALYSISOFCHANGESINNETFUNDS
Non-cash
31 March 2009 Cashflow movement 31 March 2008
£’000 £’000 £’000 £’000
Cashatbankandinhand 118 (545) - 663
Bankoverdraft (1,131) (1,131) - -
MOVEMENTINCASHBALANCES (1,676) -
Loansduewithinoneyear (102) 84 (113) (73)
Loansdueafteroneyear (5,092) - 113 (5,205)
Currentassetinvestmentsandshorttermdeposits 3,070 (551) (829) 4,450
NETDEBT (3,137) (2,143) (829) (165)
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1. ACCOUNTINGPOLICIESThefinancialstatementshavebeenpreparedinaccordancewithapplicableaccountingstandards.Themostimportantaccountingpoliciesare:
1.1 BASISOFACCOUNTINGThesefinancialstatementsarepreparedunderthehistoricalcostconvention,exceptforthevaluationofinvestments,andcomplywiththeAccountingRequirementsforRegisteredSocialLandlordsGeneralDetermination2006,theStatementofRecommendedPracticeissuedbytheNationalFederationofHousingAssociations(theHousingSORP2008)and“AccountingandReportingbyCharities:StatementofRecommendedPractice(revised2005)”issuedbytheCharityCommission(CharitiesSORP2005),wherethisdoesnotconflictwiththeHousingSORP,theCharitiesAct1993andtheCompaniesAct1985.TheaccountshavebeenpreparedonaGoingConcernbasis.
1.2 BASISOFCONSOLIDATIONTheNationalCouncilofYMCAsisrequiredtoprepareconsolidatedfinancialstatementsonaline-by-linebasisincludingtheresultsofthecompany’stradingsubsidiaries-YTradeLimited,DunfordHouseLimitedandYMCALakeside(Trading)Limited,andtheoperationsofDunfordTrust,MacAndrewTrust,DouglasWoodCharityandtheYMCATrustFund.AspermittedbySection230oftheCompaniesAct1985,theincomeandexpenditureaccountoftheparentcompanyisnotpresentedaspartofthesefinancialstatements.Priortothegiftaidpaymentfromthesubsidiaries,thegrossincomeoftheparentcompanywas£18.7m(2008:£19.8m)andthenetmovementinfundsreportedfortheyearincludesadeficitof£2m(2008:surplusof£129k)whichisdealtwithinthefinancialstatementsoftheparentcompany.
1.3 GENERALTheStatementofFinancialActivitiesrecordstheactivitiesoftheNationalCouncilofYMCAsanditssubsidiaries,bothasanaffiliatingbodyandofoperatingprojectsonanationalbasisandthebalancesheetsetsoutitsassetsandliabilities.Inadditiontoitsownassets,propertiesandinvestmentsareregisteredinthenameofYMCAEnglandasformaltrusteeforAssociations.Theseassetsareexcludedfromthesefinancialstatements.Restrictedfundsareraisedforspecificpurposesandmayonlybeusedforthespecifiedpurpose.ThemovementonthesefundsareseparatedfrommovementsinunrestrictedfundsontheStatementofFinancialActivitiesandtheamountatthebalancesheetdateisshowninnote14.WherefundsareindeficittheyarechargedagainsttheGeneralFund.
1.4 DUNFORDHOUSEThispropertyisheldbyYMCAEnglandastrustee,andunderthetermsoftheTrustDeedthesurplusesfromoperationscanonlybeappliedforspecifiedpurposes.AsthepropertyisnotbeneficiallyownedbytheNationalCouncilitisnotvaluedforthepurposeofinclusioninfixedassetsandtheoperatingresultsareshownasarestrictedfund.
1.5 TURNOVERThetotalincomingresourcesrepresentstheamountsreceivableexclusiveofVATinrespectofoperationalactivities,grantsreceivableandfundraisingactivities.AllincomearoseintheUnitedKingdom.Allincomefromoperations,grantsandfundraisingisrecognisedintheStatementofFinancialActivitieswhenanyconditionsrelatingtotheincomehavebeensatisfied,andanyamountsinrespectoffutureperiodsarecarriedforwardasdeferredincome.GrantsreceivedforhousingpropertiesaredeductedfromthecostoftheassetinaccordancewiththeHousingSORPandarenotincludedintheStatementofFinancialActivities.Donatedassetsareincludedattheirmarketvalueatthedateofdonation.Goodsdonatedforsaleinthecharityshopsareonlyincludedwhensold.Giftsreceivedinkindareincludedinincomeattheirmarketvaluewithacorrespondingchargeincludedwithinexpenditure.
1.6 LEGACIESLegaciesarerecognisedwithinincomeanddebtorswhenprobateisgrantedunlesstherearespecificconditionspreventingreceipt,egalifetenant.Attheyearendtherewere7legaciessubjecttolifetenantswithanestimatedvalueof£160kwhichareheldinpropertyandinvestments.
1.7 CAPITALEXPENDITUREANDDEPRECIATIONFixedassetsareitemscostinginexcessof£5,000withausefullifeofmorethanoneyearandarestatedatcostlessdepreciation.Thedepreciationchargeiscalculatedtowriteoffthecostlessestimatedresidualvalueofeachassetoveritsexpectedusefullifeasfollows:Freeholdbuildings -50yearsOutdooractivityaccommodation -10yearsLeaseholdlandandbuildings -PeriodoftheleaseShopleasesandshopfittings -PeriodoftheleaseortenyearswhicheverislessComputers,equipmentandmotorvehicles -3yearsstraightline
1.8 HOUSINGPROPERTIESHousingassetsarestatedatcostlessSocialHousingGrants(SHG)receivedandmoniesraisedforthesecapitalprojects.FinancingcostsincurredduringconstructionhavenotbeencapitalisedbutarechargedtotheStatementofFinancialActiviteswhenincurred.InaccordancewiththeHousingSORPdepreciationischargedontheconstructioncostslessgrantsreceived.TheNationalCouncilsetsasidefundsforfuturemajorrepairexpenditureonhousingpropertiesasshowninnote15.AnySHGreceivableattheyearendisshownasadebtorandSHGreceivedinadvanceoftheexpenditureisshownasacreditorduewithinoneyear.
1.9 STOCKSANDWORKINPROGRESSStocksandworkinprogressarestatedatthelowerofcostandnetrealisablevalue.
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1.10 RESOURCESEXPENDEDDirectexpensesareallocatedtothedepartmentincurringtheexpenditure.ExpenditureisstatedinclusiveofirrecoverableVAT.Duringtheyearended31March2009YMCAEnglandincuredVATof£330,758(2008:£195,818)whichitwasunabletorecoverCostsofgeneratingfundsincludesallfundraisingdepartments,operatingcostsforthetradingsubsidiariesandinvestmentmanagementcosts.Charitableactivitiescomprisesexpensesattributabletotheoperatingdepartmentsasdetailedinnote3.2.Centralservicesareallocatedtoactivitiesdepartmentsbasedontheestimatedusageoftheservicesonthefollowingbasis:Function AllocationbasisOfficeServices AveragenumberofemployeesCentraloverheads AveragenumberofemployeesPersonnelandpayroll AveragenumberofemployeesFinance Non-staffexpenditureIT NumberofPCsGovernancecostscomprisethecostsofgovernancearrangementsthatrelatetothegeneralrunningofthecorecharityandaredetailedinnote3.3.
1.11 INVESTMENTSTheCharitiesSORPprovidesthatinvestmentsshouldbeshownasfixedassetsattheirmarketvalue.YMCAEnglandhasalwaysregardeditsGeneralFundinvestmentsasasourceofworkingcapital,interchangeablewithcashasrequired,andthereforetreatedasacurrentasset.Assuchtheywould,undernormalaccountingtreatment,bestatedatthelowerofcostornetrealisablevalue.InthelightoftheCharitiesSORPandtheusetowhichtheinvestmentsareput,theBoardconsidersthattheirinclusionascurrentassetsatmarketvaluegivesatrueandfairviewofthefinancialpositionofthecharity.TocomplywiththeCharitiesSORPinvestmentgainsandlosseshavetobeshownonthefaceoftheStatementofFinancialActivities.Investmentsinsubsidiarycompaniesarestatedatcostplusaccumulatedsurpluses.Investmentincomeisaccountedforonareceivablebasis.
1.12 OPERATINGLEASESRentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitiesonastraightlinebasisoverthetermofthelease.
1.13 PENSIONSYMCAEnglandparticipatedinamulti-employerdefinedbenefitpensionplanforemployeesofYMCAsinEngland,ScotlandandWales,whichwasclosedtonewmembersandaccrualson30April2007.Theplan’sactuaryhasadvisedthatitisnotpossibletoseparatelyidentifytheassetsandliabilitiesrelatingtoYMCAEnglandforthepurposesofFRS17disclosure.TheemployercontributionsinrelationtothepensionplanaredeterminedbyaqualifiedactuaryandchargedtotheStatementofFinancialActivitiesasmade.Asdescribedinnote13adefinedcontributionschemehasbeensetupfrom1October2006whichallstaffareeligibletojoin.
1.14 LIABILITIESLiabilitiesarerecognisedwhenYMCAEnglandhasanabsoluteobligationtomakepaymenttoathirdparty.
1.15 CASHATBANKANDINHANDThisincludesamountsheldondepositaccountswithaccesswithintendays.
1.16 LIQUIDRESOURCESLiquidresourcesforthepurposesofthecashflowstatementcomprisecurrentassetinvestmentsthatarerealisablewithinthreemonths.Itthusincludeslistedinvestmentsandshorttermdepositsasshowninnote10.
NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
ACCOUNTINGPOLICIESYearended31March2009
Annual Report & Accounts 2008/09 YMCA EnglandFinancial Statements
2 ANALYSISOFTOTALINCOMINGRESOURCES
Grants and
Contracts Other TOTAL TOTAL
for services Income 2009 2008
£’000 £’000 £’000 £’000
INCOMINGRESOURCESFROMGENERATEDFUNDS
2.1 VOLUNTARYINCOME
Individuals - 2,271 2,271 2,687
Legacies - 882 882 2,068
CorporateandTrusts - 293 293 272
- 3,446 3,446 5,027
2.2 AFFILIATIONFEES - 593 593 561
2.3 ACTIVITIESFORGENERATINGFUNDS
Incomegeneratedbycharityshops - 8,056 8,056 6,494
Tradingactivities(note7) - 753 753 1,304
- 8,809 8,809 7,798
2.4 INVESTMENTS,INTERESTANDRENTALINCOME
Investmentincome - 265 265 273
Interestreceivable - 48 48 68
RentalIncome - 55 55 61
- 368 368 402
2.5 INCOMINGRESOURCESFROMCHARITABLEACTIVITIES
Housingandhomelessness
HousingManagement - 4,247 4,247 3,704
HousingSchemes - 416 416 356
HomelessnessProject - - - 407
Workwithandforyoungpeople
Lakeside&Glenridding - - - 1,598
PrisonsWork 254 - 254 321
WorkwithandformemberYMCAs
RegionalExecutiveOfficers - 59 59 73
OrganisationalDevelopment - 4 4 -
Fundingsupport - 49 49 -
ProgrammeDevelopment 272 181 453 335
Communications 116 10 126 136
LegalSupportandTrust&AssociationFunds - 373 373 54
DunfordHouse - 94 94 98
CentralServices - 175 175 253
TOTAL 642 5,608 6,250 7,335
TOTALINCOMINGRESOURCES 642 18,824 19,466 21,123
Thefiguresshownaboveforgrantsincludeamountsraisedbyfundraisingstaffforspecificpurposes.
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3 ANALYSISOFTOTALRESOURCESEXPENDED
3.1 COSTSOFGENERATINGFUNDS
Staff Costs Other Grants Support TOTAL TOTAL
(Note 3.5) Costs payable Costs 2009 2008
£’000 £’000 £’000 £’000 £’000 £’000
Costsofgeneratingvoluntaryincome:
Individuals -existingdonors 372 223 - 142 737 1,036
-recruitnewdonors - 454 - 107 561 217
Legacies - 44 - 13 57 37
CorporateandTrusts 41 4 - 11 56 40
413 725 - 273 1,411 1,330
Activitiesforgeneratingfunds:
Operatingcostsofcharityshops 3,352 4,031 - 242 7,625 6,177
Tradingactivities(note7) 91 301 - 8 400 732
3,443 4,332 - 250 8,025 6,909
InvestmentManagementCosts - 13 - - 13 17
TOTAL 3,856 5,070 - 523 9,449 8,256
3.2 CHARITABLEACTIVITIES
Housingandhomelessness
HousingManagement 275 4,036 - 60 4,371 3,810
HousingSchemes 90 366 - 2 458 344
HomelessnessProject 73 31 - - 104 400
Workwithandforyoungpeople
Lakeside&Glenridding - (59) - - (59) 2,123
PrisonsWork 489 144 - 118 751 699
WorkwithandformemberYMCAs
RegionalandlocalYMCAsupport 356 198 - 90 644 620
OrganisationalDevelopment 138 95 - 61 294 259
Fundingsupport 144 23 - 41 208 200
ProgrammeDevelopment 173 378 - 204 755 509
Communications 248 196 - 118 562 719
LegalSupportandTrust&AssociationFunds 103 224 98 59 484 290
PaymentstoYMCAs - - 527 - 527 385
InternationalWork - 145 - 23 168 139
DunfordHouse 92 112 - 8 212 250
Definedbenefitpensionschemecontributions 718 - - - 718 638
CentralServices(note3.4) 597 953 - (1,340) 210 253
TOTAL 3,496 6,842 625 (556) 10,407 11,638
3.3 GOVERNANCECOSTS
Companysecretarial 41 15 - 29 85 93
Internalaudit - 23 - 4 27 4
Externalaudit - 30 - - 30 36
In-syncimplementationcosts - 11 - - 11 -
Boardmeetingexpenses - 18 - - 18 7
TOTAL 41 97 - 33 171 140
TOTALRESOURCESEXPENDED 7,393 12,009 625 - 20,027 20,034
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3.4 CentralServicesInaccordancewiththeCharitiesSORP,centralservicecostslesstheassociatedincome(asshowninnote2.5)areallocatedacrossactivitiesonthefollowingbasis:
Generating Housing Work with Work with TOTAL
Funds Services Young People YMCAs Governance 2009
Basis of allocation £’000 £’000 £’000 £’000 £’000 £’000
OfficeServices Averagenumberofemployees 110 - 22 228 11 371
CentralOverheads Averagenumberofemployees 55 7 26 91 13 192
Personnelandpayroll Averagenumberofemployees 95 5 6 18 - 124
Finance Non-staffexpenditure 222 28 18 162 7 437
IT NumberofPCs 41 22 46 105 2 216
TOTAL2009 523 62 118 604 33 1,340
TOTAL2008 506 62 167 542 41 1,318
3.5 EMPLOYEECOSTS(includingsubsidiaries) TOTAL TOTAL
2009 2008
£’000 £’000
Staffcostscomprise:
Wages&salaries 6,057 6,370
Socialsecuritycosts 508 546
Definedbenefitpensionschemecontributions 718 638
Otherpensioncosts 110 148
7,393 7,702
Theaveragenumberofemployeesduringtheyear,includingparttimeandseasonalstaff,analysedbyfunctionwas:
Average Full-time Average Full-time
Number Equivalent Number Equivalent
UK-charitableactivities 92 82 148 135
UK-tradingactivities 2 2 8 6
UK-fundraising 12 12 11 11
UK-charityshops 313 235 254 195
UK-otheractivities 29 25 27 25
TOTAL 448 356 448 372
Thenumberofemployeeswhoseemoluments(excludingemployerpensioncontributions)exceeded£60,000perannumduringtheyearwasasfollows:
Number Number
£60,001to£70,000 1 2
£70,001to£80,000 1 -
£80,001to£90,000 - 1
2 3
Allemployeesearningover£60,000areeligibletoparticipateinthedefinedcontributionpensionscheme.
Inadditiontotheabove,theinterimChiefExecutivewasonsecondmentfromKingston&WimbledonYMCAforfourdaysperweekatatotalcost(coveringsalary,nationalinsurance,pensioncontributionsandirrecoverableVAT)of£55,420,andtheinterimDirectorofHousingwasaconsultantatatotalcostof£79,313.
Thefollowinginformationisgiveninrespectofthoseemployeesdefinedas“directors”bytheAccountingRequirementsforregisteredsociallandlordsGeneralDetermination2006.
2009 2008
Number £’000 Number £’000
Aggregateremuneration(includingpensioncontributions) 8 441 6 359
Highestpaid(excludingpensioncontributions) 71 80
TherearenospecialpensiontermsapplyingtotheChiefExecutiveorinterimChiefExecutive.
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NOTESTOTHEFINANCIALSTATEMENTSYearended31March20093.6 EXPENSES
Duringtheyear24membersoftheBoardwerereimbursed£7,130(2008:20membersreimbursed£4,194)inrespectoftheirtravelexpensesinperformanceoftheirdutiesbutreceivednoremunerationfortheirservicesduringtheyear(2008:£nil).MembersoftheSeniorManagementTeam(includingtheInterimChiefExecutive)werereimbursedforthefollowingitemsofexpenditure:
£’000
Travelcosts 15
Subsistence 6
Others 4
25
4. NETEXPENDITUREFORTHEYEAR
Thereportednetexpenditurefortheyearisaftercharging: 2009 2008
£’000 £’000
Operatingleaserentalspayable:
Propertyrentals 912 884
Motorvehicles 136 102
Equipment 13 23
1,061 1,009
InterestPayable:
Bankoverdrafts 42 3
Bankloans 330 375
372 378
Auditorsremuneration:
YMCAEngland’sauditors
-audit(parentcompany£33,075(2008:£34,770)) 35 37
andaftercrediting:
IncomefromUKlistedinvestments 265 273
Rentalincome:
-External 38 43
-FromTradingcompanies 17 18
Bankinterestreceivable 48 68
103 129
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NOTESTOTHEFINANCIALSTATEMENTSYearended31March20095. REGISTEREDSOCIALLANDLORDACTIVITIES
5.1 PARTICULARSOFTURNOVER,OPERATINGCOSTSANDOPERATINGSURPLUS
31 March 2009 31 March 2008
Operating Operating Operating Operating
Turnover costs surplus Turnover costs surplus
£’000 £’000 £’000 £’000 £’000 £’000
Generalneedshousing(note5.2) 128 (71) 57 124 (54) 70
Supportedhousing(note5.2) 4,167 (3,463) 704 4,070 (3,241) 829
Totalforsocialhousinglettings 4,295 (3,534) 761 4,194 (3,295) 899
Otheractivities:
SupportingPeople - - - 8 - 8
Admin 395 (839) (444) 177 (752) (575)
4,690 (4,373) 317 4,379 (4,047) 332
5.2 PARTICULARSOFINCOME&EXPENDITUREFROMSOCIALHOUSINGLETTINGSDuringtheyearYMCAEnglandoperated35units(2008:35units)ofhousingaccommodationand939units(2008:1045units)ofsupportedhousingaccommodationusingmanagementagents.
31 March 2009 31 March 2008
General
Needs Supported
Housing Housing Total Total
£’000 £’000 £’000 £’000
NETRENTALINCOME 128 4,167 4,295 4,194
Management 41 1,267 1,308 1,324
Services 7 1,220 1,227 1,033
Routinemaintenance 9 618 627 560
Majorrepairsexpenditure 3 142 145 78
Rentlossesfrombaddebts 4 99 103 194
Depreciationofhousingproperties 7 117 124 106
OPERATINGCOSTSONSOCIALHOUSINGLETTINGS 71 3,463 3,534 3,295
OPERATINGSURPLUSONSOCIALHOUSINGLETTINGS 57 704 761 899
Rentlossesfromvoidswere£150,041(2008:£243,535).Allrepairexpenditureischargedintheyear,therearenocapitalisedrepaircosts.
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YMCA England Annual Report & Accounts 2008/09Financial Statements
NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March20095.3 HOUSINGBALANCESHEET
AsaRegisteredSocialLandlord,YMCAEnglandisrequiredtopresentabalancesheetseparatingtheassetsandliabilitiesofthehousingactivityfromtheotheractivities.Thesebalancesareincludedintheconsolidatedbalancesheet.
2009 2008
Note £’000 £’000
FIXEDASSETS
Housingproperties:
Atcost 6.1 50,854 48,789
LessSocialHousingGrants 6.1 (35,218) (33,186)
LessFundsraisedforcapitalprojects 6.1 (7,604) (7,604)
LessDepreciation 6.1 (1,081) (957)
6,951 7,042
CURRENTASSETS
Debtors 1,207 596
Cashatbankandinhand 275 1,778
1,482 2,374CREDITORS:Amountsfalling
duewithinoneyear (554) (1,432)
NETCURRENTASSETS 928 942
TOTALASSETSLESS
CURRENTLIABILITIES 7,879 7,984
CREDITORS:Amountsfalling
dueafteroneyear (5,092) (5,205)
2,787 2,779
Representedby:
UnrestrictedFunds 2,787 2,779
5.4 WiththeexceptionofBasingtoke(whichisunderdirectmanagement),thehousingschemesareoperatedbyAssociationsasmanagementagentsforYMCAEngland.Thegrossincomeandexpenditureareincludedinnote5.1and5.2withamountsdue(to)/fromAssociationsattheyearenddateincludedwithincreditors/debtorsasappropriate.Attheyearendtherewererentarrearsof£251,041(2008:£360,862),astheseareunderthecontrolofthemanagementagentstheyarenotincludedintheabovefigures.Baddebtsarewrittenoffastheyoccur.
5.5 Othercreditorsinclude£406,616(2008:£970,952)SocialHousingGrantsreceivedinadvance,tobesetagainsthousingassetcostsinthenextfinancialyear.
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March20096 TANGIBLEFIXEDASSETS
6.1 HOUSINGFIXEDASSETS:Assetsforcharitableuse
Land & Buildings Under TOTAL
Freehold Leasehold Construction
£’000 £’000 £’000 £’000
Cost:
At1April2008 27,280 21,273 236 48,789
Reclassification 146 3 (149) -
Additions 682 1,395 - 2,077
Writtenoff - - (12) (12)
At31March2009 28,108 22,671 75 50,854
SocialHousingGrants:
At1April2008 21,694 11,283 209 33,186
Reclassification 143 - (143) -
Receivedintheyear 629 1,394 21 2,044
Writtenoff - - (12) (12)
At31March2009 22,466 12,677 75 35,218
OtherCapitalGrants:
At1April2008
and31March2009 2,732 4,872 - 7,604
Totalgrantsreceived 25,198 17,549 75 42,822
Depreciation:
At1April2008 208 749 - 957
Chargefortheyear 37 87 - 124
At31March2009 245 836 - 1,081
NETCOST:
31March2009 2,665 4,286 - 6,951
31March2008 2,646 4,369 27 7,042
Allleaseholdpropertiesareheldonlongleases.Thenetbookvalueoffreeholdlandandbuildingsincludeslandatcostof£2,968,400whichisnotdepreciated.
Intheeventofahousingpropertyceasingtobeusedforhousingpurposeswithin30yearsofreceiptofthegrant,theunexpiredproportionofthegrantwillbecomerepayableinalumpsum.
Attheyearendtherewereplannedcapitalcommitmentsauthorisedandcontractedforof£350,000inrespectofonehousingscheme(2008:£768,000inrespectoftwohousingschemes)andauthorisedbutnotyetcontractedforof£2.7minrespectofthreehousingschemes(2008:£nil).
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March20096.2 OTHERTANGIBLEFIXEDASSETS
Land & Buildings Equipment TOTAL
Short & Vehicles
Freehold Leasehold
£’000 £’000 £’000 £’000
Cost:
At1April2008 832 208 1,077 2,117
Additions - 22 440 462
Disposals - (19) (64) (83)
At31March2009 832 211 1,453 2,496
Depreciation:
At1April2008 297 122 728 1,147
Chargefortheyear 12 46 306 364
Disposals - (18) (64) (82)
At31March2009 309 150 970 1,429
NETBOOKVALUE:
31March2009 523 61 483 1,067
31March2008 535 86 349 970
Thenetbookvalueat31March2009representsfixedassetsusedfor:
CharitableActivities 381 - 23 404
Management&administration 141 14 151 306
TradingOperations 1 47 309 357
523 61 483 1,067
Thenetbookvalueoffreeholdlandandbuildingsincludeslandatcostof£187,154whichisnotdepreciated.
6.3 ThemajorityofpropertiesoperatedbytheYMCAMovementthroughoutthecountryareownedbyautonomousmemberYMCAs.WheretheYMCAisunabletoholdthetitledeedsitselftheseareheldbytheNationalCouncilastrusteefortheYMCA.AsthesearenottheequitablepropertyoftheNationalCounciltheyareomittedfromtheabovetotals.
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Annual Report & Accounts 2008/09 YMCA EnglandFinancial Statements
NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March20097. INVESTMENTINSUBSIDIARIES
Duringtheyear,thecompanyhadthreetradingsubsidiaries,allofwhichareregisteredinEngland&Wales: Type of
Name: Nature of business: Share: Holding:
YTradeLimited ShopsalesandDesign&Printservice Ordinary 100%
DunfordHouseLimited Conferenceservices Ordinary 100%
YMCALakeside(Trading)Limited Dormant Ordinary 100%
AllprofitsareGiftAidedtoYMCAEnglandandareincludedintheseaccounts.
Asummaryoftheirtradingresultsisshownbelow: YMCA
Dunford Lakeside
Y Trade House (Trading) 31 March 2009 31 March 2008
Limited Limited Limited TOTAL TOTAL
£000 £000 £000 £000 £000
Turnover 459 294 - 753 1,304
Costofsales (226) (36) - (262) (605)
GROSSPROFIT 233 258 - 491 699
Administrationcosts (2) (136) - (138) (127)
NETPROFIT 231 122 - 353 572
AmountGiftAided
toYMCAEngland (231) (122) - (353) (572)
Retainedinsubsidiary - - - - -
TotalShareholders’Funds 1 1 1 3 3
31 March 2009 31 March 2008
GROUP PARENT GROUP PARENT
£’000 £’000 £’000 £’000
8. STOCKS
Goodsforresale 162 3 87 3
Consumables 25 25 12 12
Workinprogress - - 4 -
187 28 103 15
Thereplacementcostofthestocksisnotmateriallydifferenttothehistoricalcost.
9. DEBTORS
Otherdebtors 2,952 2,908 2,642 2,445
Prepaymentsandaccruedincome 307 307 347 347
DuefromGroupUndertakings - 253 - 339
3,259 3,468 2,989 3,131
UnderthetermsofthesaleofYMCANationalCentre,Lakesideon31March2008considerationof£325,143forthefixedassets(excludingland)lesscapitalgrantsreceived,hasbeendeferredforaperiodofthreeyears.Thisisshownwithinthetotalforotherdebtorsshownabove.
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March2009
10. INVESTMENTS
FIXED ASSETS CURRENT ASSETS
10.1 UKListedInvestments: £’000 £’000
Marketvalueat1April2008 2,240 4,089
Additionsatcost - 1,335
Disposalproceeds (100) (1,611)
Realisedgains(losses)onsale(page34) 21 (197)
Unrealisedlossesduringtheyear(page34) (396) (632)
Marketvalueat31March2009 1,765 2,984
Costasat31March2009 1,987 3,253
Costasat31March2008 2,058 3,704
10.2 ShortTermDeposits:
Unrestrictedfunds - 86
Restrictedfunds 435 -
At31March2009 435 86
At31March2008 299 361
TOTALINVESTMENTS
At31March2009 2,200 3,070
At31March2008 2,539 4,450
Thefixedassetfundscomprise:-Trust&AssociationFundsrepresentedmainlybyfundsfromdefunctmemberYMCAs.Incomeiseitherremittedtoaspecificactivityoraccumulated;-TheMovementTrustFundisestablishedunderthetrusteeshipoftheNationalCouncilofYMCAs,withthepurposeofassistingmemberYMCAswithgrantsandloans.Itismanagedbyaseparatecommittee,responsibletotheNationalBoard.
Thecurrentassetinvestmentscompriseaportfolioofguiltsandequitiesnoneofwhichhaveamarketvalueover10%ofthetotalmarketvalue.
Thefixedassetinvestmentscompriseofinvestmentsinthefollowingunittrusts:
March 2009 March 2008
£’000 £’000
CharishareTobaccoRestricted 259 387
COIFCharityFunds-FixedInterest 863 859
COIFCharityFunds-Property 156 221
M&GCharifund 221 354
SchroderInstitutionalOverseasEquities 256 409
Cashfunds 10 10
1,765 2,240
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Annual Report & Accounts 2008/09 YMCA EnglandFinancial Statements
NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March200911. CREDITORS:AMOUNTSFALLINGDUEWITHINONEYEAR
31 March 2009 31 March 2008
GROUP PARENT GROUP PARENT
£’000 £’000 £’000 £’000
Bankoverdrafts(secured) 1,131 1,253 - -
Housingloansduewithinoneyear(note12) 102 102 73 73
Taxes&SocialSecurityCosts 151 143 171 143
OtherCreditors 1,881 1,823 2,511 2,460
DuetoGroupUndertakings - 15 - 22
Accrualsanddeferredincome 172 154 708 639
3,437 3,490 3,463 3,337
Othercreditorsinclude£406,616(2008:£970,952)SocialHousingGrantsreceivedinadvance,tobesetagainsthousingassetcostsinthenextfinancialyear.Deferredincomeconsistsofdepositsforfutureevents.
12. CREDITORS:AMOUNTSFALLINGDUEAFTERMORETHANONEYEAR
GROUP PARENT GROUP PARENT
£’000 £’000 £’000 £’000
Housingloans 5,092 5,092 5,205 5,205
Bankloans(groupandparent):
Thebankloansarerepayableininstalmentsupto2035asfollows:
Repayable
AnnualInterestRate Within One to Two to After five TOTAL TOTAL
one year two years five years years 2009 2008
£’000 £’000 £’000 £’000 £’000 £’000
Housingloan-7.02%fixedrate 38 40 139 2,305 2,522 2,559
Housingloan-Variablerate 64 66 212 2,230 2,572 2,619
Housingloan-Interestfree - - - 100 100 100
Asat31March2009 102 106 351 4,635 5,194
Asat31March2008 73 80 273 4,852 5,278
Theamountsfallingduewithinoneyearareshowninnote11.TheHousingloansaresecuredoncertainofthehousingpropertiesshowninnote6.1withafloatingchargeovercurrentassets.
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March200913. PENSIONCOMMITMENT
13.1 YMCAEnglandparticipatesinacontributorypensionplanprovidingdefinedbenefitsbasedonfinalpensionablepayforemployeesofYMCAsinEngland,ScotlandandWales.TheassetsoftheYMCAPensionPlanareheldseparatelyfromthoseofYMCAEnglandandattheyearendthesewereinvestedinpooledfundsoperatedbyLegal&General(equitiesandbondsandpropertyunits)andSchroder(propertyunitsonly).
Themostrecentcompletedthreeyearvaluationwasasat1May2008.Theassumptionsusedwhichhavethemostsignificanteffectontheresultsofthevaluationarethoserelatingtotheinvestmentyieldof6.75%perannum,therateofearningsincreaseof5%perannumandtheaveragelifeexpectancyfromnormalretirementage(of65)foranEmployedDeferredMemberof24.5yearsandforaPensionerof22.5years.Theresultofthevaluationshowedthattheactuarialvalueoftheassetswas£49.4m.Thisrepre-sented62%ofthebenefitsthathadaccruedtomembers,afterallowingforexpectedfutureincreasesinearnings.
Theplan’sactuaryhasadvisedthatitisnotpossibletoseparatelyidentifytheassetsandliabilitiesrelatingtoYMCAEnglandforthepurposesofFRS17disclosureandaccordinglytheFRS17deficitisnotshownonthebalancesheet.
Aftertakingprofessionaladviceandhavingconsiderationtothevariousoptionsopentothem,YMCAEnglandinitscapacityasPrincipalEmployerintheYMCAPensionPlanandinconjunctionwiththeTrusteeoftheYMCAPensionPlan,madetherecommen-dationthattheYMCAPensionPlanshouldclosetonewmembersandfuturebenefitaccruals.AfterconsultationwithmembersandparticipatingYMCAemployers,theTrusteeoftheYMCAPensionPlaninformedparticipatingYMCAEmployerson8May2006thattheywouldadopttherecommendationandthattheYMCAPensionPlanwouldclosewitheffectfrom30April2007.
Thevaluationpreparedasat1May2008showedthattheYMCAPensionPlanhadadeficitof£29.7million.YMCAEnglandhasbeenadvisedthatitwillneedtomakemonthlycontributionsof£62,938increasingby5%perannumuntilthenextactuarialvalua-tion.Thisamountisbasedonthecurrentactuarialassumptions(asoutlinedabove)andmayvaryinthefutureasaresultofactualperformanceofthePensionPlan.Thecurrentrecoveryperiodis10years.
Inaddition,YMCAEnglandmayhaveovertimeliabilitiesintheeventofthenon-paymentbyotherparticipatingYMCAsoftheirshareoftheYMCAPensionPlan’sdeficit.ItisnotpossiblecurrentlytoquantifythepotentialamountthatYMCAEnglandmaybecalledupontopayinthefuture.
13.2 YMCAEnglandhasopenedanewdefinedcontributiongrouppersonalpensionplanforemployees.YMCAEnglandaremakingemployercontributionsof6%ofpensionableearningsprovidedthatemployeesmakeacontributionofatleast3%.
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March200914. RESTRICTEDFUNDS
TheincomeandexpenditureoftheNationalCouncilincludeitemsrelatingtorestrictedfundscomprisingthefollowingunexpendedbalancesofdonationsandtrustsheldwhichcanonlybeappliedforspecifiedpurposes.
Balance at Movement in funds: Balance at
1 April 2008 Incoming Investment Expenditure 31 March 2009
Resources gains (losses)
£’000 £’000 £’000 £’000 £’000
Restrictedincomefunds:
AmountsraisedforlocalYMCAs 69 281 - (260) 90
AmountsraisedforYMCAEnglandactivities:
-OffenderServicesUnit 420 209 - (340) 289
-HousingServices - 117 - (117) -
-RegionalSupport - 38 - (38) -
-ProgrammeDevelopment 39 - - (21) 18
CapitalProjectsFund:
LakesideDevelopment 23 - - (1) 22
MovementTrustFund 851 41 (146) (22) 724
HartwoodsideAward 24 1 (3) (1) 21
DouglasWoodCharity 767 36 (129) (47) 627
RochesterYMCATrust 129 6 (20) - 115
OtherTrust&AssociationFunds 655 30 (77) (26) 582
NWRegionTrustFund 68 7 - (2) 73
BirchwoodYMCA - 140 - (5) 135
DunfordHouse 193 388 - (365) 216
TotalRestrictedFunds 3,238 1,294 (375) (1,245) 2,912
YMCAEnglandraisesfundsonbehalfofmemberYMCAsandforYMCAEnglandactivitieswhichcanonlybeusedforthatspecificpurpose.
TheLakesideCapitalDevelopmentfundrepresentsamountsraisedtoimproveGlenridding.
TheMovementTrustFundisestablishedunderthetrusteeshipoftheNationalCouncilofYMCAs,withthepurposeofassistingmemberYMCAswithgrantsandloans.Itismanagedbyaseparatecommittee,responsibletotheNationalBoard.ThiscommitteealsoadministerstheHartwoodsideAward(whichmakesannualbursariestoyoungpeopleinneed,particularlydisabledpersons)andtheDouglasWoodcharity(whichmakesgrantsforthepromotionoftheeducationandtrainingofyoungmeninthescienceandpractiseonfarming,horticultureoranysimilarprofessionortrade).
TheRochesterYMCATrustFundisusedforalteringorextendingYMCAfunctionalpropertyinKentandSussexasrecommendedbythetrusteesoftheSouthEastRegionalTrustFund.TheNorthWestRegionTrustFundisadministeredonbehalfofthisregionaltrustfund.TheTrust&AssociationFundsrepresentmainlyfundsfromdefunctAssociations.Incomeiseitherremittedtoaspecificactivityoraccumulated.BirchwoodYMCAclosedduringtheyearanditsassetswerepassedtotheNationalCouncilofYMCAs.
TheamountforDunfordHouseistheaccumulatedresultforthisactivity.
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March200915. UNRESTRICTEDFUNDS
Balance at Balance at
31 March 2009 31 March 2008
£’000 £’000
Allocatedtothefollowingpurposes:
Netinvestmentinfixedassets 2,625 2,530
Housing-Majorrepairsreserve 1,250 1,250
Housing-Rentreviewfund 34 105
Budgetedoutflowoffunds(seenotebelow) 231 477
4,140 4,362
‘Freereserves’ 1,271 2,103
Unrealisedinvestmentgains - 385
TOTALUNRESTRICTEDFUNDS 5,411 6,850
Theallocatedbalancesareamounts:
-heldintheformoffixedassetsandthereforenotdirectlyavailabletosupportotheractivities
-foranticipatedfutureexpenditureonmajorrepairsasdeterminedbyastockconditionsurvey
-fortherentreviewprogramme
-setasideforthebudgetedoutflowoffundsinthefollowingfinancialyear.Theseamountsareaftertheadditionalpensioncontri-butions(£718kduring2008/9and£753kfor2009/10).
Theremainderofthereservesafterallowingforunrealisedinvestmentgains,isavailabletosupporttheactivitiesofYMCAEnglandandisdescribedas‘freereserves’.
16. ANALYSISOFGROUPNETASSETSBETWEENFUNDSFundBalancesat31March2009arerepresentedby:
TOTAL
UNRESTRICTED RESTRICTED FUNDS
£’000 £’000 £’000
TangibleFixedAssets:
Housingassets 6,951 - 6,951
Otherfixedassets 868 2,399 3,267
Totalfixedassets 10,218
NetCurrentAssets 2,684 513 3,197
LongTermLiabilities (5,092) - (5,092)
5,411 2,912 8,323
17. CHANGESINRESOURCESAVAILABLEFORCHARITYUSE
TOTAL
UNRESTRICTED RESTRICTED FUNDS
£’000 £’000 £’000
Netmovementinfundsfortheyear (1,439) (326) (1,765)
Netdecreaseinfixedassets (11) 344 333
Netmovementinfundsavailable
forfutureactivities (1,450) 18 (1,432)
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NationalCouncilofYoungMen’sChristianAssociations(Incorporated)
NOTESTOTHEFINANCIALSTATEMENTSYearended31March200918. LEASINGCOMMITMENTS
Atthebalancesheetdate,YMCAEnglandhadthefollowingcommitmentsunderoperatingleasespayableintheforthcomingyear:
31 March 2009 31 March 2008
Property Plant Property Plant
leases & machinery leases & machinery
Expiring: £’000 £’000 £’000 £’000
Within12months 455 37 137 18
1to2years 242 5 168 75
2to5years 177 65 483 21
After5years 33 - 71 -
907 107 859 114
19. GRANTSRECEIVEDGrantsreceivedfortheyearinclude£86,908fromtheDepartmentforChildren,SchoolsandFamilies(DCSF)towardsaprojectsupportingthedevelopmentofextendedservicesprogrammesand£109,968alsofromtheDCSFfortheYMCA’sAIMHIGHProject;£67,538fromtheElectoralCommissionforworksupportingyoungdemocracychampionstopromotetheelectoralprocesstotheirpeers;and£36,936fromSportEnglandtowardsthecostsoftheActivateEnglandprogramme.Inaddition£10kwasreceivedfromMercerstowardstheThroughcarepilotprojectatHMPDownviewand£10,000fromThe29thMay1961CharitableTrusttowardsthecostsofredevelopingHaltonYMCA.
20. CONTINGENTLIABILITIESYMCAEnglandhasfullrepairinginterestsinpropertiesoccupiedbymemberYMCAs.Therearepotentialcontingentliabilitiesarisingfromtheseinterests,buttheamountofanysuchliabilitiescannotcurrentlybequantified.
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National Council of Young Men’s Christian Associations (Incorporated).
Charityno:212810
HousingCorporationno:LH2204
Acompanylimitedbyguarantee,registeredinLondon.Companyno:73749RegisteredOffice:640ForestRoad,London,E173DZ.
ENGLAND