Ymca Wellington And District - Charities report

REGISTERED COMPANY NUMBER: 10405070 (England and Wales)

REGISTERED CHARITY NUMBER: 1172479

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2024 TO 30TH MARCH 2025

FOR

YMCA WELLINGTON AND DISTRICT

Page

Report of the Trustees

1

to

4

Report of the Independent Auditors

5

to

7

Statement of Financial Activities

8

Balance Sheet

9

to

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

to

22

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1st April 2024 to 30th March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Following the incorporation of the organisation in October 2016, our revised objectives and aims are:

- To provide residential accommodation for young people, who are in need, hardship or distress by reason of their social, physical, emotional, spiritual or economic circumstances;

- To provide or assist in the provision, in the interests of social welfare, of facilities for recreation and other leisure time occupation for men and women with the object of improving their conditions of life;

- 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;

- And to relieve or assist in the relief of people of all ages and in particular young people, who are in conditions of need, hardship or distress by reason for their social, physical, emotional, spiritual or economic circumstances. We do this through offering Short Term Supported Accommodation and floating support through the Thrive Partnership.

Public benefit

The main activity is undertaken to further our charitable objective for the public benefit.

STRATEGIC REPORT

Achievements and performance

Charitable activities

The Trustees recognise that the charity's role extends beyond the provision of accommodation. During the year ended 30 March 2025, a core strategic priority remained the provision of wraparound support to residents and service users, including support to develop life skills, and assistance with mental health, substance misuse, and sexual health. The charity also supported people to access education, training and employment opportunities. This holistic approach is intended to help individuals sustain tenancies and progress towards greater independence.

Thrive Telford Short Term Supported Accommodation (STSA)

YMCA Wellington has 40 units of accommodation across 5 sites, with a mix of self-contained and shared housing. Established couples and single people are eligible. We can also house pregnant women whilst they wait for accommodation with a Thrive family scheme.

Support can include help with benefits, housing, emotional support, alcohol or drug advice, working with education and training providers, mediation with family in order to build bridges, liaising with mental health services and signposting to other agencies.

All accommodation is offered through the Thrive Gateway; no direct referrals are accepted.

Thrive Telford Floating Support

YMCA Wellington offer floating support to people aged 16+, of any tenure, providing they are resident in the borough of Telford. We support in people's homes and also via drop in advice hubs. This support can include help with benefits, housing, alcohol or drug advice, liaising with mental health services and signposting to other agencies. This is through the Thrive Telford partnership in conjunction with Stay Telford and KiP.

The Holly Project

The Holly Project is a free support service for survivors of Child Sexual Exploitation (CSE) and is run by survivors of CSE. It offers a safe place for individuals and their families to get support and advice from people who really understand the trauma and lasting impact of CSE. The Holly Project runs groups for survivors and victims as well as families and parents and includes direct access to specialist counselling and sexual health services.

Financial review

Financial position

Excluding the property revaluation surplus, the charity has managed to achieved a small surplus for the year. The reserves have also been increased by the trustees new approach to revalue the properties.

Moving forward, the management and Trustees have set a balanced budget for the year to 30 March 2026. The actual income and expenditure is being closely monitored compared to these budgets through the provision of timely monthly management reports

Reserves policy

The trustees have established a policy where the general fund should hold at least the equivalent of the costs of three months overheads, approximately £75,000, to enable the charity to continue if there was a short term significant drop in rental income or donations.

Principal risks and uncertainties

Most of the funding is directly or indirectly from Government and can have short term certainty. Longer term funding is recognised as being more uncertain.

Management and trustees review monthly management accounts to ensure ongoing income covers current expenditure levels. As soon as it becomes apparent major sources of future funding will reduce or stop, the impact on future expenses levels is considered by management and trustees so that timely future changes can be made.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10405070 (England and Wales)

Registered Charity number

1172479

Registered office

Consort House

Victoria Avenue

Wellington

Telford

Shropshire

TF1 1NH

Trustees

Chairperson

- Mr H P Griffiths

Vice Chairperson / Hon Treasurer / Chair Finance & Property Comm.

- Mr P F Murray

Cllr A McClements (Resigned 11/03/26)

Mrs T Guest (Resigned 10/03/26)

Rev T Carter

Mrs C Farr (Resigned 04/02/26)

Mr G Foulkes (Appointed 01/10/24, resigned 03/02/26)

Mr D Watkins (Appointed 01/10/24, resigned 01/02/26)

Ms K Murray (Appointed 01/04/26)

Chief Executive

Mrs M Mulloy (Resigned 31/12/25)

Mrs L Howells-Morgan (Appointed 16/03/26)

Auditors

Independent Auditors LLP

Emstrey House (North)

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of YMCA Wellington And District for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charities SORP;

-	make judgements and estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Independent Auditors LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 25th June 2026 and signed on the board's behalf by:

Dr H P Griffiths - Trustee

Qualified opinion

We have audited the financial statements of YMCA Wellington And District (the 'charitable company') for the period ended 30th March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the effects of the matters described in the basis for qualified opinion section of our report, the financial statements:

- give a true and fair view of the state of the charitable company’s affairs as at 30th March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Our audit work included consideration of two revenue contracts undertaken during the year ended 30 March 2025 relating to the charity's supporting people activities. The audit evidence available in respect of these contracts was limited and, as a result, we were unable to obtain sufficient appropriate audit evidence to conclude whether the full income of £183,909 recognised in the year had been recorded in the correct accounting period and appropriately presented in the financial statements.

The same contracts were also in place during the year ended 31 March 2024, when income of £187,374 was recognised. Due to the ongoing limitations in audit evidence relating to these arrangements, we were similarly unable to conclude whether that income had been recognised in the appropriate accounting period.

Furthermore, included within restricted funds is £184,674 relating to the sales proceeds in respect of a part disposal in 1995 of one of the freehold properties owned by the charity. Due to the length of time that has elapsed since the transaction, no audit evidence is available to verify whether the proceeds are restricted in nature or otherwise. Accordingly, we are unable to confirm whether this amount has been classified correctly in the financial statements.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

-	the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

-	the charitable company has not kept adequate accounting records; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Inquiry of management, those charged with governance and the company's solicitors around actual

and potential litigation and claims;

- Inquiry of company staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Jon Dale FCA

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Emstrey House (North)

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

26th June 2026

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

Unrestricted

Restricted

Total

funds

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

314,651

-

314,651

11,490

Other charitable activities

4

1,032,505

-

1,032,505

903,642

Investment income

5

1,039

-

1,039

524

Total

1,348,195

-

1,348,195

915,656

EXPENDITURE ON

Charitable activities

6

Provision of supported accommodation, floating support & connected projects.

1,309,697

-

1,309,697

832,765

Other

(151,800

)

-

(151,800

)

-

Total

1,157,897

-

1,157,897

832,765

NET INCOME

190,298

-

190,298

82,891

RECONCILIATION OF FUNDS

Total funds brought forward

As previously reported

321,844

184,674

506,518

356,445

Prior year adjustment

13

(67,182

)

-

(67,182

)

-

As restated

254,662

184,674

439,336

356,445

TOTAL FUNDS CARRIED FORWARD

444,960

184,674

629,634

439,336

30.3.25

31.3.24

Unrestricted

Restricted

Total

funds

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

14

246,745

126,423

373,168

213,688

Investments

15

302

-

302

247,047

126,423

373,470

213,990

CURRENT ASSETS

Debtors

16

54,692

-

54,692

78,868

Cash at bank

274,248

58,251

332,499

236,575

328,940

58,251

387,191

315,443

CREDITORS

Amounts falling due within one year

17

(60,334

)

-

(60,334

)

(14,327

)

NET CURRENT ASSETS

268,606

58,251

326,857

301,116

TOTAL ASSETS LESS CURRENT LIABILITIES

515,653

184,674

700,327

515,106

CREDITORS

Amounts falling due after more than one year

18

(70,693

)

-

(70,693

)

(75,770

)

NET ASSETS

444,960

184,674

629,634

439,336

FUNDS

20

Unrestricted funds

444,960

254,662

Restricted funds

184,674

TOTAL FUNDS

629,634

439,336

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th March 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 25th June 2026 and were signed on its behalf by:

H P Griffiths - Trustee

Cash flows from operating activities

Cash generated from operations

1

115,735

79,738

Net cash provided by operating activities

115,735

79,738

Cash flows from investing activities

Purchase of tangible fixed assets

(13,949

)

(9,832

)

Interest received

1,039

524

Net cash used in investing activities

(12,910

)

(9,308

)

Cash flows from financing activities

Loan repayments in year

(6,901

)

(4,915

)

Net cash used in financing activities

(6,901

)

(4,915

)

Change in cash and cash equivalents in the

reporting period

95,924

65,515

Cash and cash equivalents at the beginning of

the reporting period

236,575

171,060

Cash and cash equivalents at the end of the

reporting period

332,499

236,575

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Net income for the reporting period (as per the Statement of Financial

Activities)

190,298

82,891

Adjustments for:

Depreciation charges

6,061

9,875

Loss on disposal of fixed assets

208

-

Interest received

(1,039

)

(524

)

Unrealised property revaluation

(151,800

)

-

Decrease in debtors

24,176

57,114

Increase/(decrease) in creditors

47,831

(69,618

)

Net cash provided by operations

115,735

79,738

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 30.3.25

£

Net cash

Cash at bank

236,575

95,924

332,499

236,575

95,924

332,499

Debt

Debts falling due within 1 year

(7,000

)

1,824

(5,176

)

Debts falling due after 1 year

(75,770

)

5,077

(70,693

)

(82,770

)

6,901

(75,869

)

Total

153,805

102,825

256,630

1.	GENERAL INFORMATION

YMCA Wellington and District is a private company limited by guarantee incorporated in England and Wales. The registered office is Consort House, Victoria Avenue, Wellington, Telford, Shropshire TF1 1NH. The company number is 10405070 (England & Wales), and the registered charity number is 1172479.

YMCA Wellington provides support to the people of Telford through a variety of services. Supported housing for 16-25 year olds Floating Support through the Thrive Floating Support Service The Holly Project - peer led CSE

The liability of each member of the charity is limited to £1 should the charity be wound up.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The day to day activities of the charity will involve estimates including regarding future events. The trustees use their best judgments in these situation.

In the opinion of the trustees, no estimates or assumptions exist that could have a material impact on the value of assets and liabilities for the coming year.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Freehold properties are subject to revaluation.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Presentation currency

The financial statements are presented in sterling which is the functional currency of the charity.

Level of rounding

The financial statements are rounded to the nearest £.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The trustees have considered the current financial position, the current and expected future financial environment for the charity and the current upto date monthly management accounts. The trustees believe the charity can meet its liabilities as they fall due, for the period to 30 June 2027, being the 12 months from the signing of these financial statements.

The trustees therefore consider it appropriate to prepare the accounts on a going concern basis.

Financial instruments

The charity’s financial instruments are limited to those classified as basic under FRS 102. These primarily comprise cash, receivables, payables, and short-term deposits.

Financial assets and liabilities are recognised when the charity becomes a party to the contractual terms of the instrument. They are initially recorded at the transaction price, which is normally the fair value of the consideration given or received.

Assets are subsequently measured at amortised cost, adjusted for any impairment losses. Liabilities are subsequently measured at amortised cost.

3.	DONATIONS AND LEGACIES

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Donations

290,953

6,352

Sundry funding

23,698

5,138

314,651

11,490

4.	OTHER CHARITABLE ACTIVITIES

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Supported accommodation & floating support - Furnished accommodation

775,018

617,196

Supported accommodation & floating support - Thrive - Floating support

51,014

70,344

Supported accommodation & floating support - Thrive - Accommodation

122,931

135,196

Holly Project

83,542

80,906

1,032,505

903,642

5.	INVESTMENT INCOME

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Deposit account interest

1,039

524

6.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

Direct

activities

Support

Costs (see

(see note

costs (see

note 7)

8)

note 9)

Totals

£

Provision of supported accommodation,

floating support & connected projects.

1,023,697

280,000

6,000

1,309,697

7.	DIRECT COSTS OF CHARITABLE ACTIVITIES

30.3.25

31.3.24

£

Staff costs

590,113

496,410

Premises costs

382,237

284,554

Administration costs

19,017

16,372

Sundry costs

27,023

28,127

Finance costs

5,307

7,302

1,023,697

832,765

8.	GRANTS PAYABLE

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Provision of supported accommodation, floating support & connected projects.

280,000

-

9.	SUPPORT COSTS

Governance

costs

£

Provision of supported accommodation, floating

support & connected projects.

6,000

Support costs, included in the above, are as follows:

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

Provision

of

supported

accommodation,

floating

support &

connected

Total

projects.

activities

£

Auditors' remuneration

6,000

-

10.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

£

Auditors' remuneration

6,000

-

Depreciation - owned assets

6,061

9,875

Deficit on disposal of fixed assets

208

-

11.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30th March 2025 nor for the year ended 31st March 2024.

Trustees' expenses

There were no trustees' expenses paid for the period ended 30th March 2025 nor for the year ended 31st March 2024.

12.	STAFF COSTS

The average monthly number of employees during the period was as follows:

Period

1.4.24

to

Year Ended

30.3.25

31.3.24

Charitable activities

28

27

No employee received remuneration amounting to more than £60,000 in either year.

Aggregate remuneration received by key management personnel ( as defined by FRS102 ) amounted to £105,662 ( 2024 £101,104 ).

13.	PRIOR YEAR ADJUSTMENT

Prior Year Adjustment - Correction of Prior Period Errors: During the year, the charity identified material errors relating to prior periods and has corrected them by restating comparative figures in these accounts, in accordance with FRS 102 Section 10. The errors and their corrections are summarised as follows:

(i) Unrecognised 2019/20 Income (£19,876): Discretionary funding of £19,876 received from a local authority in 2019 was erroneously carried forward as deferred income in subsequent years, instead of being recognised as Other Income in the year ended 31 March 2020 (when the charity had full entitlement to the funds).

This prior error has now been rectified by recognising the income in the appropriate prior period, thereby increasing brought-forward unrestricted funds by £19,876. (This correction affects periods before the comparative year and has no impact on the 2023/24 statement of financial activities, except through opening reserves.)

(ii) Cancelled Invoice in 2021/22 (£19,876): An invoice to the local Council for furnished accommodation services, originally raised in the year ended 31 March 2022, was mistakenly cancelled in error, resulting in an understatement of income by £19,876 in that year.

This has been corrected by reinstating the income in the prior period. As with (i), this adds £19,876 to brought-forward unrestricted funds (with no direct effect on the 2023/24 comparative figures).

(iii) Understated Repairs Expenditure (total £21,792): A clarification obtained during the audit revealed that certain major property repair costs (managed by a third party) had been omitted in prior years. Cumulatively, repairs expenditure was understated by £21,792 across previous periods.

Of this total, £13,777 relates to the year ended 31 March 2024 (comparative period) and has now been charged in the restated 2023/24 comparatives - increasing "Expenditure on charitable activities" and thereby reducing the 2023/24 net income by £13,777. The remaining £8,015 of repair costs pertains to earlier periods and has been adjusted through a reduction in opening unrestricted reserves.

(iv) Understated Depreciation on Buildings (totals £85,142): A change in policy to revalue buildings for the current year led to a clarification during the audit highlighting the need for the depreciating of the buildings for periods up to 31 March 2024 as there had been no revaluation policy in place up to that date. Cumulatively, building depreciation was understated by £85,142 across previous periods.

Of this total, £4,968 relates to the year ended 31 March 2024 (comparative period) and has now been charged in the restated 2023/24 comparatives - increasing "Expenditure on charitable activities" and thereby reducing the 2023/24 net income by £4,968. The remaining £80,174 of depreciation on buildings pertains to earlier periods and has been adjusted through a reduction in opening unrestricted reserves.

Impact of Prior Period Adjustments: These prior period corrections result in a net decrease of £67,182 in unrestricted funds brought forward. Specifically, the opening balance of unrestricted General Fund at 1 April 2024 has been restated from £321,844 to £254,662, reflecting the net impact of adding back £39,752 of previously unrecognised income and charging £106,934 of previously omitted expenditure.

Total funds at 31 March 2024 have reduced from £506,518 (as previously stated) to £439,336 (restated). Apart from the £13,777 and £4,968 adjustments to 2023/24 expenditure noted above, there is no change to the previously reported net activities for the year ended 31 March 2024, as the other errors relate to earlier periods. All comparative information in these financial statements is presented as restated in light of the above corrections.

14.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

COST OR VALUATION

At 1st April 2024

281,296

77,632

67,509

426,437

Additions

-

5,744

8,205

13,949

Disposals

-

(34,738

)

(21,951

)

(56,689

)

Revaluations

66,658

-

66,658

At 30th March 2025

347,954

48,638

53,763

450,355

DEPRECIATION

At 1st April 2024

85,142

71,540

56,067

212,749

Charge for year

-

2,005

4,056

6,061

Eliminated on disposal

-

(34,530

)

(21,951

)

(56,481

)

Revaluation adjustments

(85,142

)

-

(85,142

)

At 30th March 2025

-

39,015

38,172

77,187

NET BOOK VALUE

At 30th March 2025

347,954

9,623

15,591

373,168

At 31st March 2024

196,154

6,092

11,442

213,688

Cost or valuation at 30th March 2025 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

Valuation in 2025

347,954

-

347,954

Cost

-

48,638

53,763

102,401

347,954

48,638

53,763

450,355

The freehold property was revalued by the trustees at the balance sheet date on an open market value basis.

15.	FIXED ASSET INVESTMENTS

30.3.25

31.3.24

£

Other

302

There were no investment assets outside the UK.

Investments (neither listed nor unlisted) were as follows:

30.3.25

31.3.24

£

Charities Official Investment Fund

302

The value of the shares at the 31st March 2025 was £5,892 (2024 £6,180).

16.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

31.3.24

£

Trade debtors

20,629

77,646

Other debtors

34,063

-

Prepayments

-

1,222

54,692

78,868

17.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.3.25

31.3.24

£

Bank loans and overdrafts (see note 19)

5,176

7,000

Trade creditors

17,111

-

Accruals and deferred income

38,047

7,327

60,334

14,327

18.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.3.25

31.3.24

£

Bank loans (see note 19)

70,693

75,770

19.

LOANS

An analysis of the maturity of loans is given below:

30.3.25

31.3.24

£

Amounts falling due within one year on demand:

Bank loans

5,176

7,000

Amounts falling between one and two years:

Bank loans - 1-2 years

5,300

6,900

Amounts falling due between two and five years:

Bank loans - 2-5 years

17,000

20,250

Amounts falling due in more than five years:

Repayable by instalments:

Bank loans more 5 yr by instal

48,393

48,620

20.	MOVEMENT IN FUNDS

Prior

Net

year

movement

At

At 1.4.24

adjustment

in funds

30.3.25

£

Unrestricted funds

General Fund - free funds

171,844

(67,182

)

38,498

143,160

Major Repairs Fund

75,000

-

75,000

General Fund - income shortfall fund

75,000

-

75,000

Unrealised property revaluation reserve

-

151,800

321,844

(67,182

)

190,298

444,960

Restricted funds

Restricted

184,674

-

184,674

TOTAL FUNDS

506,518

(67,182

)

190,298

629,634

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General Fund - free funds

1,348,195

(1,309,697

)

38,498

Unrealised property revaluation reserve

-

151,800

1,348,195

(1,157,897

)

190,298

TOTAL FUNDS

1,348,195

(1,157,897

)

190,298

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

Unrestricted funds

General Fund - free funds

21,771

82,891

104,662

Major Repairs Fund

75,000

-

75,000

General Fund - income shortfall fund

75,000

-

75,000

171,771

82,891

254,662

Restricted funds

Restricted

184,674

-

184,674

TOTAL FUNDS

356,445

82,891

439,336

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General Fund - free funds

915,656

(832,765

)

82,891

TOTAL FUNDS

915,656

(832,765

)

82,891

Unrestricted Fund - General Fund

The trustees have reviewed and revised the policy where the general fund should now hold at least the equivalent of the costs of three months overheads, approximately £75,000, to enable the charity to continue if there was a short term significant drop in rental income or donations.

The remaining " free reserves" provide the trustees with the potential to consider, when appropriate, further property purchases. This would enable the provision of additional or improved housing accommodation for young people in the area.

Unrestricted Fund - Major Repairs Fund

This represents funds to meet major repairs as and when they arise. This has been reduced reflecting the reserves maintained with Y Housing.

Restricted Fund - Wrekin Buildings Fund

This represents the net proceeds from the sale of part of Wrekin Buildings, Tan Bank, Wellington in the year ended 30th June 1995.

21.	RELATED PARTY DISCLOSURES

During the year the charity entered into transactions with parties connected to its then Chief Executive, a member of the charity's key management personnel.

These parties were Soden Shines, Hepburn Interiors, Phill France and Daniel Jones, each a family member of the Chief Executive or a business controlled by one. Taken together, these parties supplied cleaning, soft furnishings, maintenance and grounds services to the charity.

The aggregate amount recognised in the year was £31,707 ( 2024 £24,373 ). The aggregate amount outstanding at 31 March 2025 was £0 ( 2024 £0 ), and no provision for doubtful debts was required.

No amounts were written off during the year. No guarantees were given or received. The amounts charged were the suppliers' invoiced sums, settled on the charity's normal payment terms, with no security given.