**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|
Page 7