Charity registration number: 1029447 Tewkesbury & District U3A Annual Report and Financial Statements for the Year Ended 31 August 2024
Tewkesbury & District U3A Contents (continued) RefenCe and Administrative Details Tnte¢s, Report 2to3 tndependent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7t0 10
Tewkesbury & District U3A Reference and Administrative Details Trustees . N Leyden J Gotth0rpe I Barber D Frdser RHart M Jones G Webb C Price R David V Croudass R Mackintosh M Baett (appointed I l December 2023) Charity Registration Number 1029447 Princxpal Office 27 Twixtbears Tewkesbury Glos GL20 5BT Independent Examlner Devereux & Hunt 51 Basepoint Business Center Oakfjeld Close Tewkesbury Glos GL20 8SD Page I
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 2024. Objectives and activities Public benefit The organisation provides educational and recreational services for those who are no longer in full time employment. This ts done mainly through small Self-help groups. The objectives are the advancement of educAtion and, in particular, the education of older peoplg and those who are retiTed froTn full time work by all means, including associated activities conducive to learning and persona] development (revised at AGM December 2018). The trustees confmn 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 Charfftty Commission for England and Wales. Achievemellts and performance The ChaTity delivets what we aim to do i.e. bring education and social contact and activities to those who are no longer in full time work tbrough more than 30 regular intrrest groups. We are by members, for the members and with members. Current membership is 579 (2023- 563), and it has been recognised by health professioDals that those of the 60+ demographic group who are gainflllly occupied live longer and remain fitter Financial review The Tnjstees ty to maintain a strong balance sheel with ample reserves. The Charities Cornmission bave told us previously that our reserves are too high for a charity of OUT size and to reduce them. To that end we have continued to suspend some minor attendance fees and encouraged groups to request any improvements to the equipment that they use. This has Tesulted in a reduction of £3,552 this year (£602 last year). W¢ have seen a slow increase in membership this year as a result of our continued advertising and showing a presence at local evenls. Overall, the Trustes consider the current financial position to be acceptable, given the current economic clitnate. but continue to keep all finances under review. Structhr4 governance and Dnagement Nature ofgoverning documenl The organisation is unincorporated by standard registration and registered as a charity on 30 November 1993. The chlty was registered under a constitution adopted on 9 Febary 1993 and amended on 14 October 2002 and fillther amended on 10 DeeeDther 2018 atLd 13 Dec¢Jnber 2021. Recruitment and appoinlment oftruste The Trustees assume their duties on election to the Collllllitt¢¢ and are voted by the members at the Annual Generdl Meeting each year. They are appointed by majority vote on the basis that at least l 0/0 of the members are presenL Page 2
Tewkesbury & District U3A Trustees, Report (continued) Statement of Trustees, Responsibilities The trust¢¢s are responsible for preparing the trustees, report and the financial statements in accordance with the Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prdctice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare fmancial statements for each financial year which give a trne and fair view of the state of affairs of the charity and of the incornTng 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 tbem consistently. observe the methods and principles in the Ckwities SORP" make judgements and estimates that are reasonable and prndent. 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 eharity 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 tbe financial statements comply with the Clwities Act 2011. the Charities {Accowits and R¢ports) Regulations 2008, and the provisions of the ConStition. The tLUStees are also respousible for safeguarding the assets of the charity aDd hellce for tskillg reasonable steps for the prevention and detection of fraud and other itregularities. The trustees are responsible for the maintenance and integrity of the corporate and fllkanci81 inforn)ation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurftsdictions. The amiual report was appr ved by the trnstees of the charity on .......... .... 2hd signed on its behalf by: Pagc 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 Éhe year ended 31 August 2024. Responslbfilldes 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 ofthe 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 examinalton 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 bave completed my examinatioTr I confirm that no materi31 matter5 have come to my attention in Connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of Tewkesbury & Distrftct U3A as requiTrd by se¢tion 130 of the Act. OT 2. the accounts do not accord with those records. or 3. the accounts do not comply witb the accounting requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tTue and fair view, wbich is not a matter considered as part of an independent examination. I have no concerns and bave come across no other matters Én connection witb the exan)ination to which attelltion 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 Page 4
Tewkesbury & District U3A Statement of Financial Activities for the Year Ended 31 August 2024 Unrestricted funds Total 2024 Totsl 2023 Note Income and Endowments from: Donations and legacies Other trading activities Investment income Other income 7.502 20.416 690 iio 7,502 20,416 690 iio 7,272 19,617 547 196 Total income 28,718 28.718 27,632 Expenditure on: Raising funds Charttable activities (23.547) (9.000) (23.547) (9.000) {20.953) (7,281) Total expenditure (32,547) (32.547) (28.234) Net expenditure (3.829} (3,829) (602) Net movement in funds (3.829) (3.829) (602) Reconeiliation of funds Total fimds brought forward 25.066 25,066 25,668 Total fiujds carried forward 21.237 21,237 25,066 All of the ¢barity's activities derive from continuing operations during the above two periods. The ftwds breakdown for 2023 is shown in note 9. The notes on pages 7 to 10 forni an intsgral part of these fuwicial statements. Page 5
Teivkesbury & District U3A (Registration number: 1029447) Balance Sheet as at 31 August 2024 2024 2023 P4ote Fixed assets Tangible assets 68 206 Current assets Cash at bank and in hand 21,169 24,860 Net assets 21.237 25,066 Funds of the eharity: Unrestricted income funds Unrestricted funds 21.237 25.066 Total funds 21237 25,066 The fiTthncial statements on pages 5 to 10 were approved by the , and authorised for issue on .................... signed on behalf by.. R Mackintosh Trustee The notes on pages 7 to 10 forni an inte part of these finatE¢ial statements. Page 6
Tewkesbury & District U3A Notes to the Financial Statements for the Year Ended 31 August 2024 l Accounting polkcies Statement of eompliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Prnctice issued in October 2019, the Financial Reporting Standard appltcable 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 bttn prepared under the historical cost conv¢ntion with items rccognis¢d at cost or iTaDsaction value unless otherwise stated in the levant note(s) to these accounts. Going coneern The trustees Consider that there are no material uncertsinties about the charitys abTlity to continue as a going concern. Income 2nd endowments All income is Tecognised in the Ststement of FiDancial Activities once the chlty has entitlethnent 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 tbat expenditlwe, 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 ¢lassified under headings that aggregate all cost related to the eategory. Where costs cannot be directly attributed to particular headings, they have been allocatsd to activities on a basis consislant with the use of resources. Taiatio The charity is ex¢mpt from tax on its charitable activities. Depreciation sind amortisation Depreciation is provided on langible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected use1 economic life as follows: Asset class Computer equipment Depreciation method and rate 33/0 on cost Pag¢ 7
Tewkesbury & District U3A Notes to the Financlal Statements for the Year Ended 31 August 2024 (continued) 2 Income from donations and legacies Unrestricted funds General Total 2024 Total 2023 Donations and legacies" Donations from individuals Gift aid reclatmed Membersbip fees 76 952 6,244 964 6,538 964 6,538 7,502 7,502 7,272 3 Ineom¢ from other trading x¢tiviti¢s Unrestricted funds General Total funds Total 2023 Events income. Groups Events 18,672 1.744 18.672 1.744 19,489 128 20.416 20,416 19,617 4 Investment income Unrestricted funds Ceneral Total 2024 Totsl 2023 Interest receivable and similar incorne- Interest ieceivable on bank deposits 690 690 547 5 Other illeome Total funds 6 Trustees remun¢rntion and expenses During the year the charity made the following transactions with tsteeS." No trnstees. noi any persons connected with them, have received any remuneration from the charity during the The amount of combined expenses reimbursed to the Irustees during the year totalled £99 (2023 - £335). Page 8
Tewkesbury & District U3A Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 7 Taxation The charity is a registered charity and is therefore exempt from taxation. 8 Tangible fixed assets Furnitur¢ and equipment Total Cost At I September 2023 1.664 1,664 At 31 August 2024 1.664 1,664 Depreciation At I September 2023 Charge for the year 1,458 138 1.458 138 At 31 August 2024 1,596 1,596 Net book value At 31 August 2024 68 68 At 31 August 2023 206 206 Page 9
Tewkesbury & District U3A Detailed Statement of Financial Activities for the Year Ended 31 August 2024 (continued) Total 2024 Total 2023 Donations and legacie5 Appeals and donations Gift Aid tax reclaitned Membership 76 952 6.244 964 6,538 7.502 7,272 Other Irading a¢ÉiviÉies Events Groups 1,744 18,672 128 19,489 20,416 19,617 Invesiment income tnterest on casb deposits 690 547 690 547 Other income Other income iio 196 iio 196 Rauingfunds U3A Affiliation fees Groups General meetings Events (2.675) (17,513) (1.747) {1,612) {23,547) (2,500) {16,440) (1,396) (617) (20.953) Choritable atltvities Equipment Sundry expenses Depreciation Administration (1,720) (352) (27) (134) (6,768) (7,281) (138) (7.142) (9.000) This page does not forni part of the StatOry fjnancial statements. Page 12