The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The objectives and activities of the charity, as set out in the governing document, are as follows;
To demonstrate God’s love through action in local communities by promoting youth development, promoting healthy living and promoting community engagement.
Accordingly the Objects of the Londonderry YMCA are:
To provide or assist in the provision of education, for people of all ages and in particular young people, with the object of developing their physical, mental or spiritual capacities.
To promote healthy living including emotional and mental wellbeing through the provision of information, education and activities.
To promote community engagement and citizenship, for young people, their families and other adults for the purpose of family support, community relations and active citizenship.
To relieve or assist in the relief of need experienced by people of all ages and in particular young people, who are in conditions of hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances.
The main activities of the Association are the provision of an Education Authority funded, five night and two afternoons a week youth facility for young people from primary one up to young adults, in a safe environment, with staff who are caring and responsive to individuals needs. In addition we have a presence in local schools and areas of high deprivation.
The Association also seeks additional funding to run programmes to address issues such as mental health, protecting and preserving the local environment and global issues.
During the summer period we strive to run activities for all young people in the community at a reduced cost to parents by securing funding.
Throughout the year the association runs programmes aimed at developing members, young leaders, volunteers, staff and the community.
We offer support to organisations in the communities with their activities.
The trustees have paid due regard to guidance issued by The Charity Commission for Northern Ireland in deciding what activities the charity should undertake.
YOUTH ACTIVITIES - During this period we welcomed the relaxation of covid 19 guidance and restrictions. However, the long term impacts of the pandemic are visible, including an increase in young people presenting with mental-wellbeing issues among young people and a reluctance to re-engage in youth activities. Despite the ongoing challenges the youth
team worked tirelessly to adapt and continue to deliver quality youth activities. Programmes run for 5 nights and 2 afternoons per week.
TBUC - is a major government programme that promotes Good/Community Relations across our communities. We deliver, as a partner, a summer and autumn programme that brings together youth groups (from rural or urban communities across the North West) in a partnership forming programme. In spite of the ongoing pandemic, this programme did go ahead and continued to be a success for everyone involved.
DEVELOPMENT - The YM Youth Cafe, funded by awards for all, is now open thanks to the dedication of our junior leaders.
Funding for a mentoring programme in partnership with University of Ulster is secured, with a proposed start date of April 2023. The programme will work with young girls aged between 11 and 15.
Emerging from the COVID 19 Pandemic and the war in Ukraine brought an unforeseeable “cost of living crisis”. As a result we have seen a surge in our running costs. It remains our priority to absorb these increases for as long as possible to support our members.
Londonderry YMCA Ltd remains reliant on funding from the Education Authority to run our core, five night a week youth activities. The Education Authority also funds the junior and senior youth summer programme in YMCA, Tullyally and Currynierin, Project Spark and Planned Intervention.
Funding is also secured from a variety agencies including British Science Association, Derry City and Strabane District Council, ESB Wind Farm, SSE Airtricity, RAPID, The Honourable Irish Society and Waterside Neighborhood Partnership which allows us to run additional programmes to achieve our objectives and contribute to the increased running costs of the facility.
Government support during the pandemic was received from the Department for Communities in the form of the Covid Recovery Fund. Additional to this, the Job Retention Scheme continued with 2 members of staff on the scheme until its closure on 30th September 2022.
The association is situated on a 20 acre site with a two storey, 500 Sq metre building and a 300 Sq Metre Hub, which makes up the majority of the value of our assets.
The association generates some unrestricted income from the hire of its facilities to Drumahoe Childcare, Institute Lease agreement and the park and ride lease agreement with the Roads Service.
Financial statements are produced independently by PFS and Partners based in Limavady.
The association aims to hold in reserves equivalent to a minimum of three months operational costs and a maximum of 24 months operational costs, to cover costs if funding to the association is withdrawn.
Reserves remain difficult to accumulate with budgets continually being squeezed and the association covering the increased running costs.
The value held in reserves £0.
Londonderry YMCA Limited Ltd is governed by a memorandum of Association adopted on 30th June 2018. The organisation is controlled and directed by a board of directors currently made up of 6 members. In the year we had one resignation and one appointment to the board. The charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The General Secretary is appointed to run the daily activities of the organisation and reports to the board of directors at monthly meetings. The quorum for a meeting is 3 or one third the total number of directors.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £5 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Londonderry YMCA Ltd (the charity) for the year ended 31 March 2023.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 (the 2008 Act). In carrying out my examination I have followed all the applicable Directions given by the The Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 65(9)(b) of the 2008 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Londonderry YMCA Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 51 Glenshane Road, Londonderry, BT47 3SF.
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Grants receivable
Tuck shop income
Facilities hire
Income from cash investments
Subscriptions
Sundry income
Governance costs includes payments to the Independent Examiners of £1,980 (2022- £1,920) for Independent Examination fees.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The company's tax exemption reference is XR50324.
There were no disclosable related party transactions during the year (2022 - none).