The Y acknowledges the Traditional Owners of Country throughout Australia and their continuing connection to land, sea and community. We pay our respects to them and their cultures; and to elders past, present and future.
This design, created by Stephen Landers, is a powerful tribute to the 2025 NAIDOC Week theme: “The Next Generation: Strength, Vision & Legacy.” And was proudly feature on this year’s NAIDOC Tee. To read more visit our blog
Artwork by: Stephen Landers.
About Y Services
Y Services Pty Ltd is your social enterprise, specialising in custom uniform, apparel, promotional products, and procurement services. We proudly partner with the Y and now beyond the Y with over 50+ Organisations across Australia, New Zealand and beyond. We facilitate better options and purchasing decisions, economically, environmentally, and socially.
Y Merchandise
Y Merchandise is the official online store of the Y (trading as Y Gear) and offers a vast range of products and services for our business partners and our customers.
We design, develop and deliver custom uniform, apparel and promotional products across all industries. With over 20 years’ experience, our collaborative approach ensures high levels of service and satisfaction for our many customers (business and consumer). We maintain a first-class network for sourcing garments and products, adhering to ethical procurement standards, both locally and offshore.
Y Procurement
Y Procurement provides value-driven procurement advice and ESG guidance as well as supply support designed to unlock collaborative benefits to assist our members in meeting their operational goals. We source, recommend and manage national contracts and supplier arrangements and our advice, resources and leadership are provided by talented and experienced procurement professionals.
Our aim remains the provision of respectful and engaged support that aligns to The Y’s mission and helps Associations to deliver their services. We do this by progressing strategic procurement activities in key spend categories and providing service that our members can rely on.
YSPL
YSPL is our recently launched social enterprise specialising in custom uniforms, apparel, promotional products, and event merchandise. Where we bring brands and events to life. At YSPL, we’re more than just uniforms and merchandise; we’re your partners in style, community, and impact. With innovative designs and a commitment to giving back, we’re here to make you look good, feel good, and do good.
Through the Chair’s Lens
After a subdued trading result last year, it is disappointing to share that this year has been more difficult. Not unsurprising, the economic landscape is having an impact on Australians and particularly, in discretionary products and services such as ours. Reduced purchasing of our goods and services across the Y contributed to this result.
Notwithstanding this difficult trading environment, our team has worked very hard to find opportunities to grow new business with different products, categories and services and I extend my sincere thanks for their efforts across the year.
Our revenue declined by $549K, all of which can be attributed to lower purchasing across the Y and despite prudent cost control measures, we have recorded a trading loss of $138K. A disappointing result.
The Y Merchandise team (trading as Y Gear) worked very hard to provide excellent products, uniforms & event merchandise for our internal and external customers and they continue to build a robust pipeline of B2B and B2C customers outside of the Y – key to our strategy of growth and increased shareholder value. Of particular note is the development and roll out of the Forty Four Collective range as well as collaboration across the Y’s on various initiatives including the development of specialty merchandising.
The Y Procurement team have continued to develop their services to increase the value we add to our member Associations, and we are proud of the trust that is afforded us in that endeavor. Our collective, aggregated efforts drive buying power
that is not accessible when we operate independently, and we are of the firm view that every Association should participate.
Unfortunately, given our results, a dividend has not been declared by the Board for FY24. However, the cash reserves and overall health of the business is encouraging. With that said, we will be approaching future revenue initiatives with optimism but expending costs with caution as we navigate these challenging economic conditions.
On behalf of our Board, I want to thank our team for their efforts throughout this past year and thank you, our customers, and shareholders for your support. I would equally like to extend my sincere thanks to our directors who provide great advice to our team and sound governance for the company.
Our opportunity to leverage the power of the Y across Australia remains unaltered and we hope that Y Services Pty Ltd will continue to be your integral partner for all your uniform, merchandise and procurement needs. We appreciate the support we receive.
Above all, we remain committed to supporting your Association and unleashing the collective power of the Movement here in Australia to deliver your objectives and our Mission.
We are by the Y, for the Y and beyond the Y.
John Yiannis, Chair, Y Services Pty Ltd
From the Interim CEO’s Perspective
The focus this year has been one of consolidation and innovation, looking for ways to increase our revenue streams through building capacity in our customer base. For us, that means taking the great kernels of innovation we see around the movement and applying it to the wider market. Whilst we have experienced another year of declining sales, we have focused on identifying opportunities within our offering and how we can package that out to a wider audience. A key priority this year has been strengthening relationships across the Y, leading to impactful collaborations including the NAIDOC Week t-shirt design, Mardi Gras apparel, and Gymnastics range.
Our result for FY25 was impacted mainly by a $570k drop off in Association spend which resulted in us posting a $138k deficit. Whilst we have been able to rationalise operations and reduce operating expenses, we cannot save our way to surplus. We identified a reliance on Association spend as our Achilles heel, and have in recent years focussed on growing our external business through both products and services.
To support our expansion plans, we revitalised our staff team and have allocated more resources to both grow and service our customers. During FY24 we developed our external entity called YSPL (Y Services Pty Ltd) which we brought to market in FY25 which allowed us to plain label our offering and make it more palatable to Council partners who did not want the overt appearance of the YMCA brand within their supply chain. These efforts lead to our external market out performing our internal market, returning a 25% increase in sales on FY24.
We are excited about our new apparel range, 44 Collective, which again gives us the flexibility of providing a values based range of apparel which is not overtly YMCA, but still retains the link to our past which staff will know, but new customers will not. This brand has been aligned along values based principles of quality, affordability, sustainability.
Collaborations in FY25 were a major focus for us, both looking to increase revenue for Association, but more importantly build and drive engagement with your staff teams. Through our partnership with the Y NSW business East Gymnastics, we developed a retail apparel range focused at building a new revenue base with participants and families which we were able to replicate across other Gymnastic operations within the movement. In an effort to increase revenue levels at our Recreation centres, we worked with Y Vic to develop a retail strategy harnessing collaborations with new partner brands to help drive sales growth within centres. Results for the first 6 months have seen a 75% increase in revenue for the pilot sites, which is currently being rolled out into Hobart, SA & NT.
We partnered with the WhyNot team where we have combined our Y Design offering with the reach of the Youth voice of the Y to help deliver our NAIDOC & Wear it purple day collaborations which have been the most successful programs we have run in these areas, a reflection on the positive impact of harnessing the voice of young people in the delivery of products which support our core pillars of a Just World and Meaningful work.
Geoff and Jade in our Procurement team continue to work with all Associations, developing the governance oversite of our categories with a focus on ESG credentials and certifications. This year we harnessed the collective spend of the whole movement in our GTM efforts with inclusion of the Associations not members of Y Procurement, but as valuable partners in the group goals which support our mission and viability. These efforts have helped generate savings and rebates across the movement for the benefit of all.
We updated all members with offers and new arrangements, which have delivered considerable savings in Telco, Ice cream & beverages, groceries and program supplies. In addition, we have run and assisted Y Procurement members with tailored Go To Market and Request For Quotes to suit local demands and requirements.
Of course none of this is possible without our small and motivated team of staff whose focus is on delivering solutions across a vast array of opportunities for the benefit of all Associations. Our mix of staff bring a variety of skills and experiences to the organisation, which continues the legacy of Donna McMaster in striving to be the trusted and valued partner to all Member Y’s and other organisations for all their Merchandise and Procurement needs.
As in previous years where we faced into challenging conditions, the Board has determined that a trading loss does not enable the payment of a dividend. Given the re-organisation in our staff team, our focus on growing our internal market with innovative programs and offerings, combined with our efforts in growing the external market, we look forward to a more positive future year with a return to surpluses.
I would like to take the opportunity to thank Donna for her years of dedicated service on the Board and more recently within the business, which has been instrumental in transitioning us to the organisation we are today. We also welcomed Angelique Nesbitt to the Board as Treasury in October 2024 and more recently Brandon Howard who joined us from the National Board, Frank Koukounas with his extensive knowledge of Procurement.
Tim Burmeister, Interim CEO, Y Services Pty Ltd
Behind the Lens: The Board
MR. JOHN YIANNIS, EXECUTIVE CHAIR
A Senior Finance and Risk Management Professional with extensive experience in Senior Finance, Corporate Governance, Risk Management, Crisis Management, Internal Audit, Corporate and Forensic Investigations, Global Security and Board Reporting within a global Australian (ASX) listed corporation. Excellent management and financial skills spread across all elements of international business within large corporations (covering manufacturing, retail, services, construction, public transport, transport and logistics and welfare services). Currently member of the Finance Committee for
MR. RICHARD NEDOV
Richard has diverse global executive experience with broad industrial background across infrastructure, energy, renewables, public transport, logistics and multidisciplinary contracting industries. In addition to senior/chief executive roles, he also led Human Resources and Supply Chain functions in an ASX 200 company.
Richard is currently Director of Y Services, Executive Chair Active
Prue is a strategic solution provider who has spent 30 years consulting to corporate, government and not-for-profit sectors in Australia, New Zealand and Singapore in the niche area of work|life well-being strategies. This breadth of experience provides Prue with unique insights into best practice in human services, diversity, people and governance.
She has worked with some of Australia, New Zealand and Singapore’s largest companies, partnering with them to implement work|life well-being strategies that enhance people engagement, improve productivity and positively impact the bottom line.
MR. FRANK KOUKOUNAS
Frank is a Fellow Certified Practising Accountant (FCPA) and an accomplished leader and mentor with governance experience in both the for-profit and the for-purpose sector.
He brings deep expertise across planning, finance, property and procurement in Retail and in the Fast-Moving Consumer Goods (FMCG) industry, with a strong focus on commercial and contract management, ESG, and supplier relationship development. Frank has led complex functions and has strategic experience in vendor and landlord negotiations, project management, risk management, dispute resolution, tender administration, and capital management.
MS.
ANGELIQUE NESBITT
An accomplished Independent Non-Executive Director with significant expertise in business and law, Angelique brings a wealth of experience in corporate law, governance, and executive management. A Graduate of the Australian Institute of Company Directors (GAICD) and Fellow of the Governance Institute of Australia (FGIA), she holds an LLM (Corporate Law), Diploma of Law, and Bachelor of Arts (Asian Studies).
Angelique has held senior roles including over 15 years as a corporate lawyer and C-suite executive at Transfield Services
MR. BRANDON HOWARD
Brandon has over 25 years of CEO and executive leadership experience in leading and managing large, complex, diverse, and highly regulated organisations, across Public/private health, aged, disability, childcare, employment, youth & family, out of home care and social housing.
Brandon holds a Masters in Business Administration (MBA), Bachelor of Commerce with a major in Accounting and Law, and is a Certified Practicing Accountant (CPA). He is currently the Interim Director Organisational Performance & CFO at Melton City Council, having
Western Chances and Board Member of Transparency International Australia, where John chairs the Membership and Fundraising Committee. He consults to various organisations on commercial and governance matters.
John’s memberships include: FCPA - Fellow of CPA Australia, FGIA – Fellow of the Governance Institute of Australia and the GAICD –Graduate of Australian Institute of Company Directors Company Directors Course.
Group of Companies, and Director of Ducit Management. His previous board roles included the role of Chair of Sydney Ferries and Director of Worley Power Services. He has worked with the Indigenous Land and Sea Corporation on varied commercial matters and is passionate in promotion of our aboriginal heritage and connection. He is also a keen executive mentor and coach.
Running her own consulting business specialising in supporting families accessing work has enabled Prue to leverage her expertise, understanding and valued networks to participate in public policy advisory groups and national and state boards that focus on supporting children, families and carers to be the best they can possibly be.
Prue is currently a board member of Y Safeguarding, Y NSW and Y Services. She is the CEO of ARACY (Australian Research Alliance for Children and Youth), an NGO that aims to ensure all children and young people in Australia thrive.
With a strategic mindset and operational depth, he has driven improvements in Integrated Business Planning (IBP), policy and procedure development, governance and compliance frameworks, probity, reporting, analysis, and process optimisation.
Frank has managed inventory, finished goods sourcing, and major indirect spend categories across diverse industries. He is experienced in navigating complex, matrixed, and highly regulated multinational environments, with regional experience across the Asia-Pacific (APAC).
Limited/Broadspectrum Limited, where she led the Legal and Company Secretarial teams. Her background spans leadership of Legal, Insurance, Risk, Compliance, and Internal Audit functions within major organisations.
Through her consulting firm, Augmena Pty Limited, Angelique provides strategic advice across infrastructure services, renewable energy, transport, and social infrastructure sectors. Since 2023, she has furthered her commitment to the Not-for-Profit sector, supporting youth and children’s services.
previously been the Director of Child, Youth & Family at MacKillop Family Services, CEO of Anglicare NSW South NSW West & ACT, and Executive General Manager Community and Pathways at genU.
Brandon is a values driven and community oriented individual, who is passionate and motivated to make a lasting difference within the communities we serve. In addition to Y Services, Brandon holds Directorships at South West Healthcare, Y Australia, YMCA Geelong and Positive Media.
MS. PRUE WARRILOW
Our Vision
By 2026, we will be the trusted and valued partner to all Member Y’s and other organisations by providing expanded products and services across new and larger markets, categories and customers and will be relied upon for our advice and solutions to enable improvement and growth; economically, environmentally, and socially.
Our Game Plan
The Team who Brings the Vision into Focus
TIM BURMEISTER INTERIM CEO
EARL MCMILLAN DIGITAL DESIGN MANAGER
REBECCA HAWS PRODUCT AND BUSINESS DEVELOPMENT MANAGER
STUART NORMAN WAREHOUSE MANAGER
GEOFF FULFORD NATIONAL PROCUREMENT MANAGER
JADE TRAN PROCUREMENT SUPPORT OFFICER
NATALIE KUHN ACCOUNTS AND ADMINISTRATION OFFICER
NATALIE BIRCHALL ACCOUNT MANAGER
RUBY MILTON MARKETING AND COMMUNICATIONS SPECIALIST
Y Procurement
The past year has been one of growth, collaboration, and strengthened impact for Y Procurement. Our team has continued to deliver value through efficient, transparent, and sustainable procurement practices that support the Y’s mission.
In 2025, we focused on building stronger supplier partnerships, driving cost savings, and ensuring compliance with governance standards, while also embedding greater social and environmental responsibility into our procurement processes. This report highlights our achievements, key initiatives, and opportunities for the year ahead.
ENVIRONMENT
Y Procurement recognizes its responsibility to contribute to a more sustainable future. We continue to work with suppliers which align to the Y’s broader environmental and ESG commitments and focus on embedding sustainability into our procurement processes.
1. SUSTAINABLE SOURCING
We prioritize suppliers who demonstrate strong sustainability policies and are actively taking steps to reduce their impact on the environment. We continually track their sustainability reporting which could include carbon emissions rates, waste minimization and utilization of sustainable materials.
2. SUPPLIER EVALUATIONS
In all tender processes, we evaluate suppliers on their Environmental, Social and Governance (ESG) capabilities and performance. Their ability to showcase their commitment to sustainable outcomes carries a weight in their overall scoring. Within our ice cream and beverages tender, the ESG component carried a 15% weighting for evaluations.
SOCIAL
Y Procurement continues to support social awareness activities through our suppliers.
Supply Nation
We have maintained our partnership with Supply Nation and continue to encourage our members to make use of our Supply Nation members which provides access to up to 3,000 accredited indigenous owned businesses.
The Y’s reported indigenous business expenditure through Supply Nation for the period July 2024 – June 2025 was $143,106.
GOVERNANCE
Y Procurement conducts our partner and supplier engagements with integrity to ensure we offer services that can be trusted by our members. To maintain this trust, the work we do is governed by four pillars:
1. PROBITY - Y Procurement conducts our sourcing and management activities fairly and transparently, the way we deal with our stakeholders requires an alignment of values and ethics with all our suppliers. In doing so, we actively prevent opportunities for fraud and corrupt conduct.
2. COMPLIANCE - We manage risk by ensuring all our suppliers maintain active compliances at assessment and periodic reviews. We monitor and maintain a strong process for vendor selection and management with key records collected and created for audit and review.
3. PEOPLE - We value our relationships with key stakeholders, our Y members and Suppliers. We are actively strengthening these relationships through frequent communication and consultation, transparency and diligence.
4. SYSTEMS - We use data, tools & platforms to assist us to inform our planning and business decisions. Our systems are reviewed to ensure the best outcomes for our members.
ECONOMIC
Y Procurement have continued to provide our members with access to supplier arrangements in common categories required across the Y. Our objective is to maintain and improve these arrangements to provide the best possible value for money to our members.
Examples of value offers that Y members are utilising are:
1. Woolworths At Work
From January to August 2025, Woolworths At Work offered all Y Procurement Members a 2% Credit Rebate on the eligible total expenditure on orders placed via the dedicated website. From Jan – August 2025, the total spend across all Y Procurement Members was $600,453 and the total credit rebate was $12,009.
Y Procurement have successfully negotiated a new contract and Y Procurement members are now eligible for a credit rebate with a top tier of 3% from 1 September 2025 (terms and conditions apply to this structure).
2. Officeworks
Y Procurement and Officeworks have further expanded the pricelist for Y Procurement Members during 2025. This pricelist offers a further discount on most popular products based on Y Association requirements. In addition, free delivery was implemented Australia-wide in March, not including bulky items, greatly assisting our operations in regional areas.
In January – August 2025, the total spend across Y Procurement Members was $240,406. Association members that have transitioned to the Y Procurement arrangement have saved a total of $30,012 over the eight months.
Our Procurement Supply Partners
A New Lens on Y Design
NAIDOC WEEK
As part of our Y Design program, we collaborated with Y staff member Stephen Landers to create the 2025 NAIDOC Week T-shirt, inspired by the theme “The Next Generation: Strength, Vision & Legacy.” Stephen’s design tells a story of connection, identity and community, and serves as a reflection of his cultural roots and his work in Outside School Hours Care.
To read more about this years design visit our blog
WEAR IT PURPLE
In partnership with WhyNot, we launched the Wear It Purple Day T-shirt Design Competition, inviting young people across Australia to create designs around the theme “WhyNot Be Me.” The collaboration gave youth designers a platform to express inclusion, pride and individuality through art. The winning designs captured the spirit of authenticity and visibility, demonstrating the power of creativity to inspire confidence and belonging.
Bringing the Spirit of Sydney Mardi Gras to Life
In February 2025, Y’s throughout Australia proudly marched in Mardi Gras under the theme “Free to Be”, led by Y NSW. To support the parade, the team at Y Services were proud to partner with the Y Mardi Gras team to create a bright range of t-shirts and apparel that celebrated visibility, inclusion, and self-expression. Young people led the creative process, ensuring every design carried purpose and reflected their voices.
Eighty staff, volunteers, members and carers took part, with young people leading the way, proud, powerful and free to be their true selves.
For many, wearing the apparel meant more than marching. It was about being recognised and respected and about carrying a sense of belonging and pride. The garments didn’t just meet a brief, they carried a message. To read more visit our blog
A Sharper Retail Vision
Earlier this year, we developed a retail strategy for Y Victoria to enhance product offerings, brand partnerships, and the overall customer experience across five pilot sites. The strategy introduced a curated range of sustainable, high-performing brands and outlined clear plans for retail optimisation & revenue growth.
Following its success, the rollout has expanded to Y Victoria, Y SA and Y Tasmania, with Y NT underway and Y NSW and Y Queensland to follow in the new year. Following its success, the rollout has expanded to other sites across Victoria, SA and Hobart with plans underway to expand across Australia. To read more visit our blog
East Gymnastics Brings Fresh Style into Focus
In August 2024, East Gymnastics, part of the Y NSW family, partnered with Y Gear to refresh their apparel and create modern, on-trend pieces that young gymnasts would be proud to wear both in and out of the gym. The brief was clear, design something that could stand confidently alongside popular retail brands while still feeling distinctly East Gymnastics. The result was a premium range that combines style, comfort and identity, with the hero piece being an oversized hoodie that quickly became a favourite.
The impact was immediate. The look was rolled out across six Y Gymnastics sites, reaching more than 5,000 young gymnasts and helping build a stronger sense of pride and connection within the community. With plans already underway for a new activewear line, this project highlights how great design can deliver real impact. To read more visit our blog
YSPL is a social enterprise specialising in custom uniforms, apparel, promotional products, and event merchandise. We partner with over 50 organisations across Australia, New Zealand, and beyond – bringing brands and events to life.
Now in our second year, we’re proud to have three customers fully onboarded and operational through our dedicated ordering portal, with many more joining us as valued partners.
At YSPL, we’re more than just uniforms and merchandise – we’re partners in style, community, and impact. With over 20 years’ experience in the design, development, and supply of uniforms across diverse industries, we specialise in premium, ethically sourced products tailored to meet each client’s unique needs. Our collaborative approach ensures the delivery of innovative designs, high-quality fabrics, and custom solutions that perform in every environment.
We design, develop, and deliver uniform ranges for many contract partners and like organisations, including but not limited to, and are proud to continue growing our network of valued customers.
“YSPL, supported by our dedicated Account Manager, continues to enhance our experience through quality products and reliable service.”
Kimberly Rennie, Employee Experience and Engagement Coordinator, South East Leisure
The directors present their report together with the financial statements for YMCA Services Pty Ltd for the financial year ended 30 June 2025.
Directors
The names of the directors in office at any time during or since the end of the financial year are:
John Yiannis (Chair ) Richard Nedov Prue Warrilow
Angelique Nesbitt (Appointed Oct 2024)
Donna McMaster (Retired Dec 2024)
Brandon Howard (Appointed Jun 2025)
Frank Koukounas (Appointed Jun 2025)
The above directors have been in office since the start of the financial year to the date of this report unless otherwise stated.
Review of operations
The deficit for the company for the financial year amounted to $138,639 (2024 $66,283 deficit). The Procurement operation continues to service the needs of members through contract management and governance, as well as focusing on negotiating new contracts including with nonmembers for the benefit of all. The Merchandise operation continued to experience a declining sales base with reduced spending from most Associations. Focused on growing spend within Associations through targeted retail strategies and cross selling programs across sectors, whilst still identifying and growing external markets which offer growth potential outside of the current structure.
Significant changes in the state of affairs
No significant change in the nature of these activities changed during the year.
Principal activities
The company continued its lead role as the Merchandising arm of the YMCA Associations, providing uniform and branded product ranges to meet the requirements of both internal and external markets. The company also engaged with 12 member Associations & National Entities to provide Procurement services based on their needs, as well as worked with non-member Associations to utilise combined spend to drive better negotiated outcomes for the entire movement.
Events subsequent to the end of the reporting period
No matters of circumstance has arisen since 30 June 2025 that has significantly affected, or may significantly affect the company's operations, the results of those operations, or the company's state of affairs in future financial years.
YMCA
(Formerly YMCA E-Store Pty Ltd)
(Formerly YMCA E-Store Pty Ltd)
ABN 52 104 876 806
ABN 52 104 876 806
DIRECTORS’ REPORT
DIRECTORS’ REPORT
Financial Report
Likely developments and expected results of operations
Likely developments and expected results of operations
The company has continued to service the needs of member Associations in both the Merchandise & Procurement operations and has been developing opportunities in external markets primarily in the B2B space for our Merchandise offering.
The company has continued to service the needs of member Associations in both the Merchandise & Procurement operations and has been developing opportunities in external markets primarily in the B2B space for our Merchandise offering.
Dividend
Dividend
At the October 2024 Board meeting the company directors decided not to declare a dividend to shareholders for the period 1 July 2023 to 30 June 2024 as there was no surplus generated.
At the October 2024 Board meeting the company directors decided not to declare a dividend to shareholders for the period 1 July 2023 to 30 June 2024 as there was no surplus generated.
Auditor’s Independence Declaration
Auditor’s Independence Declaration
A copy of the Auditor’s Independence Declaration is set out on page 5. The Directors’ Report is signed in accordance with a resolution of the Board of Directors:
A copy of the Auditor’s Independence Declaration is set out on page 5. The Directors’ Report is signed in accordance with a resolution of the Board of Directors:
YMCA SERVICES PTY LTD
(Formerly YMCA E-Store Pty Ltd)
YMCA SERVICES PTY LTD
YMCA SERVICES PTY LTD
ABN 52 104 876 806
(Formerly YMCA E-Store Pty Ltd)
(Formerly YMCA E-Store Pty Ltd)
ABN 52 104 876 806
Director : _________________________________________________________
Director : _________________________________________________________
DIRECTORS’ DECLARATION FOR THE YEAR ENDED 30 JUNE 2025
John Yiannis
ABN 52 104 876 806
John Yiannis
DIRECTORS’ DECLARATION FOR THE YEAR ENDED 30 JUNE 2025
Dated this 3rd day of November 2025
DIRECTORS’ DECLARATION FOR THE YEAR ENDED 30 JUNE 2025
Dated this 3rd day of November 2025
In accordance with a resolution of the directors of YMCA Services Pty Ltd, the directors have determined that the company is not a reporting entity because there are no users dependent on general purpose financial statements. Accordingly, the attached special purpose financial report should be prepared in accordance with the accounting policies described in Note 1 to the financial statements.
In accordance with a resolution of the directors of YMCA Services Pty Ltd, the directors have determined that the company is not a reporting entity because there are no users dependent on general purpose financial statements. Accordingly, the attached special purpose financial report should be prepared in accordance with the accounting policies described in Note 1 to the financial statements.
In accordance with a resolution of the directors of YMCA Services Pty Ltd, the directors have determined that the company is not a reporting entity because there are no users dependent on general purpose financial statements. Accordingly, the attached special purpose financial report should be prepared in accordance with the accounting policies described in Note 1 to the financial statements.
The directors of the company declare that:
The directors of the company declare that:
The directors of the company declare that:
1. The financial statements and notes, as set out on pages 7 to 19 are in accordance with the Australian Charities and Not for Profit Commissions Act 2012 and :
1. The financial statements and notes, as set out on pages 7 to 19 are in accordance with the Australian Charities and Not for Profit Commissions Act 2012 and :
1. The financial statements and notes, as set out on pages 7 to 19 are in accordance with the Australian Charities and Not for Profit Commissions Act 2012 and :
a) comply with Australian Accountings Standards; and
a) comply with Australian Accountings Standards; and
a) comply with Australian Accountings Standards; and
b) give a true and fair view of the company’s financial position as at 30 June 2025 and of its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statements.
b) give a true and fair view of the company’s financial position as at 30 June 2025 and of its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statements.
b) give a true and fair view of the company’s financial position as at 30 June 2025 and of its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statements.
2. In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
2. In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
2. In the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
Director : ___________________________________________________________
4
Director : ___________________________________________________________
Director :
Dated this 3rd day of November 2025
Dated this 3rd day of November 2025
John Yiannis
John Yiannis
John Yiannis
AUDITORS INDEPENDENCE DECLARATION
UNDER 60-40 OF THE AUSTRALIAN CHARITIES AND NOT-FOR-PROFITS COMMISSION ACT 2012 TO THE BOARD OF YMCA SERVICES PTY LTD
As auditor for YMCA Services Pty Ltd for the year ended 30 June 2025, I declare that, to the best of my knowledge and belief, there have been:
a) No contraventions of the auditor independence requirements of the Australian Charities and Not-forprofits Commission Act 2012 in relation to the audit; and
b) No contraventions of any applicable code of professional conduct in relation to the audit.
This declaration is in respect of YMCA Services Pty Ltd.
Stephen Kirtley Director
Dated this 03rd day of November, 2025
Davidsons Assurance Services Pty Ltd 101 West Fyans Street Geelong, Victoria 3220
ABN 52 104 876 806
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2025
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2025
ABN 52 104 876 806
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025
CASH FLOWS FROM OPERATING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
statements
ABN 52 104 876 806
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 1: SUMMARY OF MATERIAL ACCOUNTING POLICIES
YMCA Services Pty Ltd is a company limited by shares, incorporated and domiciled in Australia.
Basis of Preparation
The directors have prepared the financial statements on the basis that the company is a nonreporting entity because there are no users dependent on general purpose financial statements. The financial statements are therefore special purpose financial statements that have been prepared in order to meet the requirements of the Australian Charities and Not for Profit Commission Act 2012. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards.
The financial statements have been prepared in accordance with the mandatory Australian Accounting Standards applicable to entities reporting under the Australian Charities and Not for Profit Commission Act 2012 and the significant accounting policies disclosed below, which the directors have determined are appropriate to meet the needs of members. Such accounting policies are consistent with the previous period unless stated otherwise.
The financial statements are compliant with recognition and measurements requirements of Australian Accounting Standards.
The financial statements, except for the cash flow information, have been prepared on an accruals basis and are based on historical costs unless otherwise stated in the notes. The amounts presented in the financial statements have been rounded to the nearest dollar.
The financial statements were authorised for issue on the 3 rd Day of November 2025 by the directors of the company.
New or amended Accounting Standards and interpretations adopted
The company has adopted all of the new or amended accounting standards and interpretations that are mandatory for the current period. The adoption of these accounting standards and interpretations did not have any significant impact on the financial performance or position of the company.
Accounting Policies
a.
Income Tax
The company was granted endorsement of a Charitable Institution to Income Tax Exempt Status effective from 1 July 2005 by the Australian Taxation Office on 18 November 2011. Consequently, income tax expense is not applicable.
b.
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs are assigned on the basis of weighted average costs.
876 806
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 1: SUMMARY OF MATERIAL ACCOUNTING POLICIES
c. Plant and Equipment
Each class of plant and equipment is carried at cost less, where applicable, any accumulated depreciation. The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not in excess of the recoverable amount from these assets. The recoverable amount is assessed on the basis of the expected net cash flows that will be received from the assets employment and subsequent disposal. The expected net cash flows have been discounted to their present values in determining recoverable amounts.
d. Depreciation
The depreciable amount of all fixed assets is depreciated on a straight line basis over the useful lives commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.
Plant and equipment is depreciated at rates between 7.4% - 37.5%.
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.
An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
e. Employee Benefits
Provision is made for the company’s liability for employee benefits arising from services rendered by employees to balance date. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled, plus related on-costs. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits.
f. Cash and Cash Equivalents
Cash and cash equivalents includes cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.
g. Revenue
The company recognises revenue as follows:
ABN 52 104 876 806
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 1: SUMMARY OF MATERIAL ACCOUNTING POLICIES
Sale of goods
Revenue from the sale of goods is recognised at the point in time when the customer obtains control of the goods, which is generally at the time of delivery.
Rendering of services
Revenue from a contract to provide services is recognised over time as the services are rendered.
Interest
Interest revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset.
Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established.
Grants and government subsidies
Grant and government subsidiary revenue is recognised in profit or loss when the company satisfies the performance obligations stated within the funding agreements.
If conditions are attached to the grant or subsidy which must be satisfied before the company is eligible to retain the contribution, the grant will be recognised in the statement of financial position as a liability until those conditions are satisfied.
h. Critical accounting judgements, estimates and assumptions
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. The judgements, estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities (refer to the respective notes) within the next financial year are discussed below.
YMCA SERVICES PTY LTD
(Formerly YMCA E-Store Pty Ltd)
ABN 52 104 876 806
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 1: SUMMARY OF MATERIAL ACCOUNTING POLICIES
Allowance for expected credit losses
The allowance for expected credit losses assessment requires a degree of estimation and judgement. It is based on the lifetime expected credit loss, grouped based on days overdue, and makes assumptions to allocate an overall expected credit loss rate for each group. These assumptions include recent sales experience and historical collection rates.
Provision for impairment of inventories
YMCA SERVICES PTY LTD
(Formerly YMCA E-Store Pty Ltd) ABN 52 104 876 806
The provision for impairment of inventories assessment requires a degree of estimation and judgement. The level of the provision is assessed by taking into account the recent sales experience, the ageing of inventories and other factors that affect inventory obsolescence.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 2 : REVENUE
NOTE 3 : EXPENSES
Included
the
NOTE 4 : ECONOMIC DEPENDANCE
YMCA Services Pty Ltd is dependent on YMCA Associations for the majority of its revenue used to operate the business.
YMCA SERVICES PTY LTD (Formerly YMCA E-Store Pty Ltd) ABN 52 104 876 806 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 2 : REVENUE
Remuneration of the auditor : Davidsons (FY25) / Davidsons (FY24) -
NOTE 6 : CASH AND CASH EQUIVALENTS
-
NOTE 7 : TRADE AND OTHER RECEIVABLES
NOTE 3 : EXPENSES
Included in the yearly results are the following specific expenses:
NOTE 3 : EXPENSES
NOTE 8 : INVENTORIES CURRENT
Included in the yearly results are the following specific expenses:
NOTE 9 : PLANT & EQUIPMENT
NOTE 4 : ECONOMIC DEPENDANCE
YMCA Services Pty Ltd is dependent on YMCA Associations for the majority of its revenue used to operate the business.
NOTE 4 : ECONOMIC DEPENDANCE
YMCA Services Pty Ltd is dependent on YMCA Associations for
NOTE 5 : AUDITORS' REMUNERATION Remuneration
(FY25) / Davidsons (FY24)
NOTE 5 : AUDITORS' REMUNERATION Remuneration
the auditor : Davidsons (FY24) / BDO (FY23)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
NOTE 9 : PLANT AND EQUIPMENT
Movements in carrying amounts
Movements in the carrying amounts for each class of plant and equipment between the beginning and the end of the financial year.
NOTE 10 : RIGHT-OF-USE ASSETS
NOTE 11 : TRADE AND OTHER PAYABLES
NOTE 12 : PROVISIONS
ABN 52 104 876 806
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE
4,135 (2024 : 4,135) full paid ordinary
Ordinary shares entitle the holder to participate in dividends and the proceeds on winding up of the company in proportion to the number of shares held. The fully paid shares have no par value and the company does not have a limited amount of authorised capital. At shareholder meetings each ordinary share is entitled to one vote when a poll is called, otherwise each shareholder has one vote on a show of hands.
NOTE 14 : CASH FLOW INFORMATION
Reconciliation of profit to net cash from operating activities:
NOTE 15 : KEY MANAGEMENT PERSONNEL
Key Management Personnel are the executive team members for YMCA Services Pty Ltd. They are responsible and lead the planning and operations of the organisation.
The National Council of YMCAs of Australia – 1914 Shares (46.29%)
Transactions with related parties
The following transactions occurred with related parties:
made to National Council of YMCA's of Australia27,745
paid to National Council of YMCA's of Australia
Receivable from and payable to related parties
The following balances are outstanding at the reporting date in relation to transactions with related parties.
Current receivables: Receivable from National Council of YMCA's of Australia5,533 6,553
Transactions between related parties and YMCA Services Pty Ltd are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated.
The directors as listed in the Director's Report do not receive remuneration for their services.
List of Directors as follows:
John Yiannis (Board Chair)
Richard Nedov
Angelique Nesbitt (Treasurer)
Prue Warrilow
Brandon Howard
Donna McMaster (Retired Dec 2024)
Loans to/from related parties
The directors as listed in the Director's Report do not receive remuneration for their services.
Terms and conditions
All transactions were made on normal commercial terms and conditions and at market rates.
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF YMCA SERVICES PTY LTD
Opinion
We have audited the financial report of YMCA Services Pty Ltd (the Company), which comprises the statement of financial position as at 30 June 2025, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of material accounting policies, and the declaration by those charged with governance
In our opinion the financial report of YMCA Services Pty Ltd has been prepared in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act), including:
(a) giving a true and fair view of the Company’s financial position as at 30 June 2025 and of its financial performance for the year then ended; and
(b) complying with Australian Accounting Standards to the extent described in Note 1 and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013.
Basis for Opinion
We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Company in accordance with the ACNC Act, the ethical requirements of the Accounting Professional and Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other responsibilities in accordance with the Code.
We confirm that the independence declaration required by the Australian Charities and Not-for-profits Commission Act 2012, which has been given to the directors of the Company, would be in the same terms if given to the directors as at the time of this auditor’s report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Emphasis of Matter – Basis of Accounting
We draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared for the purposes of fulfilling the Company’s financial reporting responsibilities under the ACNC Act. As a result, the financial report may not be suitable for another purpose. Our report is not modified in respect of this matter.
Responsibilities of Management and Those Charged with Governance for the Financial Report
Management is responsible for the preparation of the financial report in accordance with the ACNC Act, and for such internal control as management determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error.
In preparing the financial report, management is responsible for assessing the 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Report
Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Australian Auditing Standards 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 the financial report.
A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: http://www.auasb.gov.au/Home.aspx. This description forms part of our auditor's report.
Stephen Kirtley Director
Dated this 03rd day of November, 2025
Davidsons Assurance Services Pty Ltd 101 West Fyans Street Geelong, Victoria 3220
06th November 2025
Dear Directors
NET ASSETS
In accordance with your request, we provide the following details regarding the net assets per share of YMCA Services Pty Ltd as at 30 June 2025 The information has been based on the audited financial report of YMCA Services Pty Ltd for the financial year ended 30 June 2025
The audited net assets at 30 June 2025
Number of shares on issue as per ASIC records - Ordinary shares
