Charity registration number: 1029447
## Tewkesbury & District U3A
Annual Report and Financial Statements
for the Year Ended 31 August 2023
## **Tewkesbury & District U3A**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 10|
## **Tewkesbury & District U3A**
## **Reference and Administrative Details**
## **Trustees :**
N Leyden J Gowthorpe I Barber D Fraser R Hart M Jones G Webb C Price (appointed 5 December 2022) R David (appointed 5 December 2022) V Croudass (appointed 12 December 2022) R Mackintosh (appointed 6 February 2023) S Murdock (resigned 5 December 2022) S Franklin (resigned 6 February 2023)
**Charity Registration Number** 1029447 **Principal Office** 27 Twixtbears Tewkesbury Glos GL20 5BT **Independent Examiner** Devereux & Hunt 51 Basepoint Business Center Oakfield Close Tewkesbury Glos GL20 8SD
Page 1
## **Tewkesbury & District U3A**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2023.
## **Objectives and activities**
## _**Public benefit**_
The organisation provides educational and recreational services for those who are no longer in full time employment. This is done mainly through small self-help groups.
The objectives are the advancement of education and, in particular, the education of older people and those who are retired from full time work by all means, including associated activities conducive to learning and personal development (revised at AGM December 2018).
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
The Charity delivers what we aim to do i.e. bring education and social contact and activities to those who are no longer in full time work through more than 30 regular interest groups.
We are run by members and with members.
Current membership is 563 (2022 - 574), and it has been recognised by health professionals that those of the 60+ demographic group who are gainfully occupied live longer and remain fitter.
## **Financial review**
The Trustees try to maintain a strong balance sheet, with ample reserves. However, the Charities Commission have told us that our reserves are too high for a charity of our size and to reduce them. To that end we have this year suspended some minor attendance fees and encouraged groups to request any improvements to the equipment that they use. This has resulted in a reduction of £602 this year.
We have seen a slow decline in membership over the last few years, not helped by the coronavirus pandemic. We have therefore tried to do more advertising and show a presence at local events, to bolster recruitment.
Overall, the Trustees consider the current financial position to be acceptable, given the current economic climate, but continue to keep all finances under review.
## **Structure, governance and management**
## _**Nature of governing document**_
The organisation is unincorporated by standard registration and registered as a charity on 30 November 1993. The Charity was registered under a constitution adopted on 9 February 1993 and amended on 14 October 2002 and further amended on 10 December 2018 and 13 December 2021.
## _**Recruitment and appointment of trustees**_
The Trustees assume their duties on election to the Committee and are voted by the members at the Annual General Meeting each year. They are appointed by majority vote on the basis that at least 10% of the members are present.
Page 2
## **Tewkesbury & District U3A**
## **Trustees' Report (continued)**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these 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;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... I Barber Trustee
Page 3
## **Tewkesbury & District U3A**
## **Independent Examiner's Report to the trustees of Tewkesbury & District U3A**
I report to the trustees on my examination of the accounts of Tewkesbury & District U3A for the year ended 31 August 2023.
## **Responsibilities and basis of report**
As the charity trustees of Tewkesbury & District U3A you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Tewkesbury & District U3A's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Tewkesbury & District U3A as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... M Devereux Certified Accountants
51 Basepoint Business Center Oakfield Close Tewkesbury Glos GL20 8SD
Date:.............................
Page 4
## **Tewkesbury & District U3A**
## **Statement of Financial Activities for the Year Ended 31 August 2023**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
Total income
**Expenditure on:**
Raising funds
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
11|**Unrestricted**
**funds**
**£**
7,272
19,617
547
196
27,632
(20,953)
(7,281)
(28,234)
(602)
(602)
25,668
25,066|**Total**
**2023**
**£**
7,272
19,617
547
196
27,632
(20,953)
(7,281)
(28,234)
(602)
(602)
25,668
25,066|**Total**
**2022**
**£**
6,452
20,972
80
-|
|---|---|---|---|
||||27,504|
||||(18,797)
(6,067)|
||||(24,864)|
||||2,640|
||||2,640
23,028|
||||25,668|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 11.
The notes on pages 7 to 10 form an integral part of these financial statements. Page 5
## **Tewkesbury & District U3A**
## **(Registration number: 1029447) Balance Sheet as at 31 August 2023**
|**Note**
**Fixed assets**
Tangible assets
8
**Current assets**
Debtors
9
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
10
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
11|**2023**
**£**
206
-
24,860
24,860
-
24,860
25,066
25,066
25,066|**2022**
**£**
340
128
25,343|
|---|---|---|
|||25,471
(143)|
|||25,328|
|||25,668|
|||25,668|
|||25,668|
The financial statements on pages 5 to 10 were approved by the , and authorised for issue on .................... and signed on behalf by:
......................................... R Mackintosh Trustee
The notes on pages 7 to 10 form an integral part of these financial statements. Page 6
## **Tewkesbury & District U3A**
## **Notes to the Financial Statements for the Year Ended 31 August 2023**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Tewkesbury & District U3A meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
All income is recognised in the Statement of Financial Activities once the charity has entitledment 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 consistant with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class** Computer equipment
**Depreciation method and rate** 33% on cost
Page 7
## **Tewkesbury & District U3A**
## **Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)**
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Gift aid reclaimed
Membership fees
**3**
**Income from other trading activities**
Events income;
Groups
Events
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**5**
**Other income**|**Unrestricted**
**funds**
**General**
**£**
76
952
6,244
7,272
**Unrestricted**
**funds**
**General**
**£**
19,489
128
19,617
**Unrestricted**
**funds**
**General**
**£**
547|**Total**
**2023**
**£**
76
952
6,244
7,272
**Total**
**funds**
**£**
19,489
128
19,617
**Total**
**2023**
**£**
547|**Total**
**2022**
**£**
6
-
6,446|
|---|---|---|---|
||||6,452|
||||**Total**
**2022**
**£**
19,334
1,638|
||||20,972|
||||**Total**
**2022**
**£**
80|
||||**Total**
**funds**
**£**|
## **6 Trustees remuneration and expenses**
During the year the charity made the following transactions with trustees:
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
The amount of combined expenses reimbursed to the trustees during the year totalled £335 (2022 - £739).
Page 8
## **Tewkesbury & District U3A**
## **Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)**
## **7 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **8 Tangible fixed assets**
|**8**
**Tangible fixed assets**|||||
|---|---|---|---|---|
|**Cost**
At 1 September 2022
At 31 August 2023
**Depreciation**
At 1 September 2022
Charge for the year
At 31 August 2023
**Net book value**
At 31 August 2023
At 31 August 2022
**9**
**Debtors**
Prepayments
**10 Creditors: amounts falling due within one year**
Trade creditors||**Furniture and**
**equipment**
**£**
1,664
1,664
1,324
134
1,458
206
340
**2023**
**£**
-
**2023**
**£**
-||**Total**
**£**
1,664
1,664
1,324
134
1,458
206
340
**2022**
**£**
128|
|||1,664|||
|||1,324
134|||
|||1,458|||
|||206|||
|||340|||
|||**2023**
**£**
-
**2023**
**£**
-|||
|||||**2022**
**£**
143|
Page 9
## **Tewkesbury & District U3A**
## **Notes to the Financial Statements for the Year Ended 31 August 2023 (continued)**
|**11 Funds**
**Balance at 1**
**September**
**2022**
**£**
**Unrestricted funds**
General
25,668
**Balance at 1**
**September**
**2021**
**£**
**Unrestricted funds**
General
23,028
**12 Analysis of net assets between funds**
Tangible fixed assets
Current assets
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Incoming**
**resources**
**£**
27,632
**Incoming**
**resources**
**£**
27,504|**Resources**
**expended**
**£**
(28,234)
**Resources**
**expended**
**£**
(24,864)
**Unrestricted**
**funds**
**General**
**£**
206
24,860
25,066
**Unrestricted**
**funds**
**General**
**£**
340
25,471
(143)
25,668|**Balance at 31**
**August 2023**
**£**
25,066|
|---|---|---|---|
||||**Balance at 31**
**August 2022**
**£**
25,668|
||||**Total funds at**
**31 August**
**2023**
**£**
206
24,860|
||||25,066|
||||**Total funds at**
**31 August**
**2022**
**£**
340
25,471
(143)|
||||25,668|
Page 10
## **Tewkesbury & District U3A**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023**
|**Income and Endowments from:**
Donations and legacies (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Other income (analysed below)
Total income
**Expenditure on:**
Raising funds (analysed below)
Charitable activities (analysed below)
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**Total**
**2023**
**£**
7,272
19,617
547
196
27,632
(20,953)
(7,281)
(28,234)
(602)
(602)
25,668
25,066|**Total**
**2022**
**£**
6,452
20,972
80
-|
|---|---|---|
|||27,504|
|||(18,797)
(6,067)|
|||(24,864)|
|||2,640|
|||2,640
23,028|
|||25,668|
This page does not form part of the statutory financial statements. Page 11
## **Tewkesbury & District U3A**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023 (continued)**
|**_Donations and legacies_**
Appeals and donations
Gift Aid tax reclaimed
Membership
**_Other trading activities_**
Events
Groups
**_Investment income_**
Interest on cash deposits
**_Other income_**
Other income
**_Raising funds_**
U3A Affiliation fees
Groups
General meetings
Events
**_Charitable activities_**
Equipment
Sundry expenses
Depreciation
Administration|**Total**
**2023**
**£**
76
952
6,244
7,272
128
19,489
19,617
547
547
196
196
(2,500)
(16,440)
(1,396)
(617)
(20,953)
(352)
(27)
(134)
(6,768)
(7,281)|**Total**
**2022**
**£**
6
-
6,446|
|---|---|---|
|||6,452|
|||1,638
19,334|
|||20,972|
|||80|
|||80|
|||-|
|||-|
|||(2,456)
(12,408)
(1,395)
(2,538)|
|||(18,797)|
|||-
-
(255)
(5,812)|
|||(6,067)|
This page does not form part of the statutory financial statements. Page 12