2020-09-30-accounts

REGISTERED CHARITY NUMBER: 1042458

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2020

for

Bedford U3A

Thompsons Accountancy Services Limited Chartered Accountants Grove House 1 Grove Place Bedford Bedfordshire MK40 3JJ

Bedford U3A

Contents of the Financial Statements for the Year Ended 30 September 2020

		Page
Report of the Trustees	1	to	2
Independent Examiner's Report		3
Statement of Financial Activities		4
Statement of Assets & Liabilities		5
Notes to the Financial Statements	6	to	7

Bedford U3A

Report of the Trustees for the Year Ended 30 September 2020

The trustees present their report with the financial statements of the charity for the year ended 30 September 2020. 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

Bedford U3A is a self funded organization run by the members for the members. It is a registered charity offering an open meeting twice a month with guest speakers and a wide range of study, creative and leisure groups for the retired and semi-retired.

Area of Benefit

Bedford, Kempston and Villages

Public benefit

In setting our programme each year we have regard to the Charity Commission's general guidance on public benefit. The trustees always ensure the programmes we undertake are in line with our charitable objectives and aims.

ACHIEVEMENT AND PERFORMANCE

To all intents and purposes, all normal activity came to a halt in mid-March 2020. There is no need to detail the effects of the pandemic, except to say that the Committee tried very hard (through Zoom and in-person meetings where permissible) to manage a difficult situation. Some groups attempted to re-start but had to cease meeting again, and with guidance from the Third Age Trust, all Government rules and guidelines have been respected.

Financially, the accounts look very different this year. They reflect the reduced level of activity and comparisons with the previous year are pointless. The major activity has been the reimbursement from the Travel Club to members who had booked for trips which could not take place and, in the case of Theatre trips, where refunds had been received. This also included the planned holiday. The exercise was greatly facilitated by Janet King and members of the Travel Committee, whose records enabled correct refunds to be made to over 150 members who had booked multiple, different trips. With the exception of one theatre booking, everything was completed by the end of the financial year. My thanks go to the Travel Committee and to members for their understanding and willingness to receive refunds through online banking.

The Annual General Meeting has been postponed until such time as Government advice on physical meetings is available.

FINANCIAL REVIEW

The surplus on the general fund was £7,248 (2019 - £4,387) which was transferred to general reserves. The travel fund has a deficit for the year of £1,786 (2019 – £101) which was covered by reserves held in the travel fund reserve.

Reserves Policy

The general fund stood at £22,555 at 31[st] December 2020. It is the policy of the charity to hold sufficient funds in reserve to cover the general running costs of the charity for a period of six months. For the current year the situation presented by the COVID-19 pandemic have meant that the lack of events reduced expenditure, thus resulting in a larger surplus than expected.

In respect of the Travel fund, the amounts held in this reserve represent funds received for events which have not yet happened and for which a payment has not been made to the supplier and thus will vary dependent upon events.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number 1042458

Principal address

14 Greskine Close Bedford MK41 0NW

Page 1

Bedford U3A

Report of the Trustees for the Year Ended 30 September 2020

Trustees

A Pyne P Lewis L Reynolds F Dunlop F Noble

Independent Examiner

Thompsons Accountancy Services Limited Chartered Accountants Grove House 1 Grove Place Bedford Bedfordshire MK40 3JJ

Approved by order of the board of trustees on 3[rd] August 2021 and signed on its behalf by:

........................................................................ L Reynolds - Trustee

Page 2

Independent Examiner's Report to the Trustees of Bedford U3A

Independent examiner's report to the trustees of Bedford U3A

I report to the charity trustees on my examination of the accounts of Bedford U3A (the Trust) for the year ended 30 September 2020.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all 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 the Trust 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 applicable 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.

Kevin Barrett FCCA Thompsons Accountancy Services Limited Chartered Accountants Grove House 1 Grove Place Bedford Bedfordshire MK40 3JJ

Date: …… August 2021

Page 3

Bedford U3A

Statement of Financial Activities for the Year Ended 30 September 2020

Notes RECEIPTS Voluntary receipts Subscriptions Donations Gift Aid Charitable activities Income from events 2 Activities for generating funds Fundraising activities 3 Other income Total EXPENDITURE ON Costs of raising Voluntary receipts Fundraising costs 3 Charitable activities Group events 2 Travel Group 2 Support costs 4 Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward Transfer between funds TOTAL FUNDS CARRIED FORWARD	General fund £ 16,212 60 2,577 18,849 8,437 2,982 - 30,268 7,206 308 14,195 - 1,311 23,020 7,248 15,307 - 22,555	Travel Fund £ - - - - 11,496 - - 11,496 82 - - 13,200 - 13,282 (1,786) 3,817 - 2,031	30.9.20 Total funds £ 16,212 60 2,577 18,849 19,933 2,982 - 41,764 7,288 308 14,195 13,200 1,311 36,302 5,462 19,124 - 24,586	30.9.19 Total funds £ 17,182 253 4,036 21,471 55,902 4,822 250 82,445 8,674 876 25,940 40,405 2,264 78,159 4,286 14,838 - 19,124

The notes form part of these financial statements

Page 4

Bedford U3A

Statement of Assets & Liabilities 30 September 2020

Notes CURRENT ASSETS Main group account Travel Club bank account Cash in hand NET ASSETS FUNDS Unrestricted funds - General Fund - Travel Fund TOTAL FUNDS	General Fund £ 22,329 - 226 22,555	30.9.20 30.9.19 Travel Total Total Fund funds funds £ £ £ - 22,329 15,159 1,921 1,921 3,555 110 336 410 2,031 24,586 19,124 22,555 15,307 2,031 3,817 24,586 19,124

The financial statements were approved by the Board of Trustees and authorised for issue on 3[rd] August 2021 and were signed on its behalf by:

............................................. L Reynolds - Trustee

The notes form part of these financial statements

Page 5

Bedford U3A

Notes to the Financial Statements for the Year Ended 30 September 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.

As allowed under section 133 of the Charities Act 2011, the trustees have decided to adopt a receipts and payments basis in preparing accounts for the Charity.

Taxation

The charity is exempt from 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.

2. INCOME AND EXPENSES FROM EVENTS

Income Group events Group Outings Day Trips Holidays Theatre trips Total income from events Expenditure Group expenses Equipment expenses Catering costs Group Outings Hall Hire - Group meetings Hall Hire - Open meetings Speakers Storage costs Travel costs Tickets etc Total expenditure for events Net Expenditure	General Fund 8,391 46 - - - 8,437 189 96 315 - 10,570 1,220 675 1,130 - - 14,195 (5,758)	Travel Fund - - 9,146 778 1,572 11,496 - - - - - - - - 3,837 9,363 13,200 (1,704)	30.9.20 Total funds 8,391 46 9,146 778 1,572 19,933 189 96 315 - 10,570 1,220 675 1,130 3,837 9,363 27,395 (7,462)		30.9.19 Total funds 14,572 1,026 10,441 12,300 17,563
					55,902 347 - 616 284 19,861 2,360 1,563 909 19,594 20,811
					66,345
					(10,443)

continued...

Page 6

Bedford U3A

Notes to the Financial Statements - continued for the Year Ended 30 September 2020

3. INCOME AND EXPENSES FROM FUNDRAISING ACTIVITIES

Books & DVD Sales Diaries Door raffle Books & DVD Sales Diaries Door raffle 4. SUPPORT COSTS Management Travelling expenses Hall Hire – Committee meetings Information Technology Repairs & Renewals Beacon Other Miscellaneous Donations Governance costs Independent examiners fees	30.9.20 Income Expenses 173 - 78 - 2,731 308 2,982 308 30.9.19 662 - 261 206 3,899 670 4,822 876 30.9.20 General Travel Total Fund Fund funds - - - 312 - 312 312 - 312 - - - 999 - 999 999 - 999 - - - - - - - - - - - - 1,311 - 1,311		Net 173 78 2,423
			3,946
			257 (120) 3,426
			3,615
			30.9.19 Total funds 30 523
			553 182 1,018
			1,200 441 20
			461 50
			2,264

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