THE UNIVERSITY OF THE THIRD AGE FARNHAM AND DISTRICT
THE TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDING 30 June 2021
The University of the Third Age Farnham and District (Farnham U3A) is a registered Charity No. 1019078 with a constitution adopted on 13 May 1991. An amended constitution was adopted on the 26[th] March 2021.
Its object is to advance the education of the public and in particular the education of middle aged and older people who are not in full time gainful employment and who live in Farnham and its surrounding localities.
Farnham U3A is affiliated to the Third Age Trust UK.
Members of the Committee during the year were:
Mike Love - Chairman Ian Lapworth – Vice Chair Malcolm Ellis - Groups Co-ordinator Val Atkinson - Hon Secretary Ann Vickers - Events Secretary Glennis Turner - Hon Treasurer Jane Moberly - Communications Shree Merriman – Member/Trustee
The Charity’s bankers are CAF Bank Ltd., 25 Kings Hill Avenue, Kings Hill, West Malling, National Westminster Bank plc, The Borough, Farnham, and CCLA Investment Management Ltd of 80 Cheapside, London EC2V 6DZ.
The independent examiner of accounts is Mr Ian Johnson of Westbrook Cottage, The Street, Crookham Village, Hampshire, GU51 5SJ
During the year there was a full committee which met monthly to deal with the activities across all groups.
Chairman’s Annual Report on the activities of Farnham U3A
I am pleased that, in spite of being through such a traumatic year as a result of Coronavirus, the committee and our dedicated volunteers and group leaders managed to keep Farnham U3A operational. Many groups embraced technology to enable them to continue “meeting”. I would like to thank all those who have helped see us through this last year's uncertainties. Zoom has been a most useful tool in enabling groups to meet online. It has also allowed me to work extensively with other local u3a Chairs and representatives across the S E Region Network to contribute, promote Farnham u3a and keep abreast of what is happening within the u3a.
This past year we have embraced the recent u3a rebranding and promotional activities which are designed to retain current members, recruit new members and help re-invigorate the organisation for the future.
| Statement of Financial Activities for Year Ending 30 June 2021 | Statement of Financial Activities for Year Ending 30 June 2021 | Statement of Financial Activities for Year Ending 30 June 2021 | Statement of Financial Activities for Year Ending 30 June 2021 | Statement of Financial Activities for Year Ending 30 June 2021 | |||
|---|---|---|---|---|---|---|---|
| **Total 2019-20 ** | **General Funds ** | Restricted Funds |
Total 2020-21 | Notes | |||
| Income | £ | £ | £ | £ | |||
| Subscriptions | 50,734 | 23,533 | 23,533 | 1 | |||
| Tax Recovery | 6,585 | 3,201 | 3,201 | ||||
| Project(Theme) | 360 | 0 | 0 | ||||
| Miscellaneous Receipts | 62 | 0 | 0 | ||||
| Bank Interest | 108 | 13 | 13 | ||||
| Total Income | 57,849 | 26,748 | 26,748 | ||||
| Expense | |||||||
| Venue Hire | 31,305 | 17,675 | 17,675 | 2 | |||
| Third Age Trust Subscription | 5,151 | 3,756 | 3,756 | ||||
| Project(Theme) | 455 | 50 | 50 | ||||
| MonthlyMeetings | 906 | 395 | 395 | ||||
| Member Communications | 5,480 | 7,778 | 7,778 | 3 | |||
| PR/Promotions | 61 | 1,140 | 1,140 | ||||
| Equipment Purchase & Repairs | 1,287 | 742 | 742 | 4 | |||
| Licences | 1,439 | 2,364 | 2,364 | ||||
| Members Refunds | 1225 | 155 | 155 | ||||
| Miscellaneous Expenses | 516 | 115 | 115 | ||||
| Bank Charges | 120 | 156 | 156 | ||||
| Depreciation | 567 | 2,121 | 2,121 | 5 | |||
| Committee & General Admin | 596 | 37 | 37 | ||||
| Total Expense | 49,108 | 36,484 | 36,484 | ||||
| Net Ordinary Income/(Exp) | 8,741 £ |
9,735) (£ |
9,735) (£ |
||||
| Balance brought forward | 46,114 | 54,085 | 770 | 54,855 | |||
| Balance carried forward | 54,855 | 44,350 | 770 | 45,120 | |||
| Group Funds | |||||||
| GroupReceipts | 26,259 | 2,880 | 2,880 | ||||
| GroupPayments | 27,145 | 1,799 | 1,799 | ||||
| Net GroupIncome/(Expenditure) | 886) (£ |
1,081 £ |
1,081 £ |
||||
| Balance brought forward | 9,441 | 8,555 | 8,555 | ||||
| Balance carried forward | 8,555 | 9,636 | 9,636 | ||||
| Total balance carried forward | 63,410 £ |
53,986 £ |
770 £ |
54,756 £ |
|||
| Net Total Income/(EXP) | 7,855 £ |
8,654) (£ |
8,654) (£ |
||||
| NOTE | 1 | Reflects reduced subscription levied and reduced membershipnumbers | |||||
| 2 | Includespayment of Zoom subscriptions to GroupLeaders | ||||||
| 3 | In 2020-21 our website was redesigned and relaunched. The total cost of £3,300 is included her | ||||||
| 4 | Includes the cost of 2 new laptops for £696 | ||||||
| 5 | See Notes to the Balance Sheet 'Fixed Assets and Depreciation' |
| Balance Sheet as at 30 June 2021 | ||||||
|---|---|---|---|---|---|---|
| Total 2019- 20 |
General Funds |
Restricted Funds |
Total 2020-21 | |||
| ASSETS | ||||||
| Fixed Assets | £ | £ | £ | £ | ||
| IT Equipment | 2,121 | 0 | 0 | |||
| Current Assets | ||||||
| Accounts Receivable | 6,585 | 0 | 0 | |||
| Payments in Advance | 1,187 | 0 | 0 | |||
| Cash at bank and in hand | ||||||
| CAF Bank - Current Account | 1,897 | 3,413 | 770 | 4,183 | ||
| COIF Deposit Account | 20,460 | 20,468 | 20,468 | |||
| Floats | 38 | 38 | 38 | |||
| GroupBank Accounts | 8,345 | 9,426 | 9,426 | |||
| Nat West Current Account | 22,961 | 20,640 | 20,640 | |||
| Total Cash at bank and in hand | 53,701 | 53,985 | 770 | 54,755 | ||
| Total Current Assets | 61,473 | 53,985 | 770 | 54,755 | ||
| Current Liabilities | ||||||
| Accounts Payable | 43 | 0 | 0 | |||
| Receipts in Advance | 140 | 0 | 0 | |||
| Total Current Liabilities | 183 | 0 | 0 | |||
| NET CURRENT ASSETS | 61,290 | 53,985 | 770 | 54,755 | ||
| NET ASSETS | 63,411 £ |
53,985 £ |
770 £ |
54,755 £ |
Treasurer’s Notes to the accounts:
1.Reserves
Due to the effects of the pandemic and the cessation of most of our ‘normal activity we had a loss of revenue for the financial year 2020-21. This has resulted in our reserves being reduced by £8,655. However, our starting position was extremely healthy and you will see from the Balance Sheet that we still hold reserves of over £54,000 at the end of the year. In accordance with our reserves policy this is still sufficient to fund our contractual obligations and running costs and, in the short term, cope with potential loss of income from reduced membership. In a year's time, and hopefully after the resumption of normal activity, the situation will need to be further reviewed. If membership numbers are not sufficiently recovered at that time your committee may need to consider an increase in subscriptions to maintain reserves at a level sufficient to cope with the aims and obligations of the organisation.
2. Fixed assets and Depreciation
It has been the practise of Farnham U3A to capitalise individual fixed assets costing more than £250 and depreciate them over their useful life. With effect from 2020-21 this practise has changed to facilitate the transfer in 2021-22 to the Beacon Finance Module. This module does not produce a conventional balance sheet that carries fixed assets, depreciation, debtors and creditors. It was therefore necessary to write out to revenue our remaining asset value.
| Fixed Assets at 30June 2021 | Fixed Assets at 30June 2021 | |||
|---|---|---|---|---|
| 2020-2021 | ||||
| IT Equipment |
||||
| £ | ||||
| Cost | ||||
| As at beginningofyear | 9,152 | |||
| Additions | 0 | |||
| Disposals | 0 | |||
| As at end ofyear | 9,152 | |||
| Depreciation | ||||
| As at beginning of year | 7,031 | |||
| In the year | 2,121 | |||
| Disposals | ||||
| As at end ofyear | 9,152 | |||
| Net Book Value atyear end | 0 | |||
| Net Book Value atyear start | 2,121 | |||
| 3. Restricted Funds at 30June 2020 | ||||
| Balance at | ||||
| 30/06/2021 | ||||
| Maltings Garden Project | 360 | |||
| Oral HistoryProject | 410 | |||
| Total Restricted Funds | 770 | |||
| 4. Group Funds at 30June 2021 | ||||
| Brought | Carried | |||
| Forward | Forward | |||
| 01/07/2020 | Total Income | Total Expense | 30/06/2021 | |
| £ | £ | £ | £ | |
| Concert Group | 1,657 | 0 | 250 | 1,407 |
| Photography | 590 | 0 | 295 | 295 |
| Pilates 2,3 & 6 | 0 | 743 | 743 | - |
| Shakespeare | 174 | 0 | 0 | 174 |
| Theatre Group | 2,459 | 2,137 | 61 | 4,535 |
| Wine Exploration | 849 | 0 | 0 | 849 |
| Wine for Fun 1 | 535 | 0 | 0 | 535 |
| Wine for Fun 2 | 632 | 0 | 450 | 182 |
| Classical Studies | 209 | 0 | 0 | 209 |
| Unclassified and Inactive | 1,451 | 0 | 0 | 1,451 |
| Total | 8,556 £ |
2,880 £ |
1,799 £ |
9,636 |
| In addition to the above,some minorpettycash balances are held byGroupLeaders. |
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