**REGISTERED CHARITY NUMBER: 1042458** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 30 September 2023** **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 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Receipts and Payments**||4|| |**Statement of assets and liabilities at the end**|||| |**of the period**||5|| **Bedford U3A** ## **Report of the Trustees for the Year Ended 30 September 2023** The trustees present their report with the financial statements of the charity for the year ended 30 September 2023. 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. ## **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** During the financial year 2022-23 the trustees have continually worked to ensure that Bedford U3A remains a strong and viable organisation and has explored various links with the wider community, such as retirement facilities and via a presence at Bedford Borough Council’s “Ageing Well” exhibition. The basis upon which the year began, plus a steady increase in membership and near-capacity attendance at the many and varied groups, has left us with an increase in reserves at the year end. The trustees are managing this by examining means of widening the number of interest groups and raising the budget for speaker expenses in order to offer high quality Open meetings. Costs are still increasing in relation to Bulletin printing and postage, as well as hire charges for venues. Computer and IT equipment is being purchased or updated as required.The situation will be kept under constant review, but further progress will depend upon the willingness of members to come forward as volunteers to take on trustee roles in the near future. ## **FINANCIAL REVIEW** ## **Financial position** The general fund increased during the year by £9,591 (2022 Deficit - £3,656) which was transferred to general reserves. The travel fund does not represent part of the charity’s charitable activities as defined by the Charity Commission. Information in respect of the travel fund has been included since 2019 for completeness and represents payments received for travel club events and costs (such as tickets and travel expenses). In 2023 there is a surplus of income over expenditure of £2,335 (2022– £2,934). At the end of the year the travel fund stood at £7,828. ## **Reserves Policy** It is the policy of the charity to hold sufficient funds in reserve to cover the general running costs of the charity for period of six months without further incoming resources. Steps are under review to use some of the increased reserves as outlined above. 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 payment has not yet been made to the supplier and will vary dependent upon the timing of events. Page 1 **Bedford U3A** ## **Report of the Trustees for the Year Ended 30 September 2023** ## **FINANCIAL REVIEW** Membership has note quite moved back up to pre-pandemic levels, but is steadily increasing. However, it is still noticeable that a proportion of our demographic still has some reluctance to attend large gatherings such as Open Meetings. The trustees are mindful of the need to maintain contact through traditional means with the sizeable minority who have no online access. There is a cost to this but the trustees are resolved to maintain all fees at existing levels and to use reserves to support activities on offer. The effect of this has been less severe than expected, and funds remain at a level which the trustees anticipate will be more than adequate to continue in operation. ## **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** c/o Lesley Reynolds Apartment 27 The Newells Manor Drive Kempston Bedford MK42 8EJ ## **Trustees** L Reynolds L Bundy S Petre S Newman M Haines J Fordham P Lewis C Fordham C A Tucker Y Cooke F Kemp D Neale (Appointed – 17 October 2023) ## **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 27 June 2024 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 2023. ## **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: ............................................. Page 3 **Bedford U3A** ## **Receipts and Payments for the Year Ended 30 September 2023** |||||**30.9.23**|30.9.22| |---|---|---|---|---|---| |||General|Travel|**Total**|Total| |||Fund|Fund|**funds**|funds| |||(Unrestricted)|||| ||(Unrestricted)||||| |Notes||£|£|**£**|£| |**RECEIPTS**|||||| |Subscriptions||**19,644**|**-**|**19,644**|10,052| |Donations||**217**|**-**|**217**|50| |Gift aid claims||**2,402**|**-**|**2,402**|2,450| |Books & DVD Sales||**158**|**-**|**158**|142| |Miscellaneous income||**8**|**-**|**8**|87| |Riviera Travel payments||**1,083**|**-**|**1,083**|-| |Door raffle||**4,472**|**-**|**4,472**|3,561| |Group income||**22,637**|**-**|**22,637**|13,942| |**Travel Fund**|||||| |Day Trips||**-**|**19,233**|**19,233**|16,239| |Theatre trips||**-**|**23,866**|**23,866**|10,846| |||**---------**|**--------**|**---------**|----------| |**Total receipts**||**50,621**|**43,099**|**93,720**|57,369| |||**---------**|**--------**|**---------**|----------| |**PAYMENTS**|||||| |Raffle prizes||**746**|**-**|**746**|760| |Printing, postage & stationery||**1,469**|**35**|**1,504**|2,282| |Sundries||**45**|**-**|**45**|261| |Affiliation fees||**3,580**|**-**|**3,580**|3,552| |Beacon||**900**|**-**|**900**|888| |Catering||**360**|**-**|**360**|271| |Hall Hire|||||| |-
Group meetings||**24,014**|**-**|**24,014**|18,115| |-
Open meetings
-
Committee meetings
Speakers
Storage costs
Third Age Matters
Group expenses
Equipment
Software licences (Zoom)
Travel expenses
Repairs and maintenance
AGM Expenses
Independent examiners’ fees||**2,511**
**224**
**1,681**
**1,637**
**2,640**
**271**
**298**
**151**
**-**
**9**
**134**
**360**|**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2,511**
**224**
**1,681**
**1,637**
**2,640**
**271**
**298**
**151**
**-**
**9**
**134**
**360**|724
339
1,991
1,408
1,726
92
991
173
7
-
-
360| |**Travel Fund**
Travel costs
Tickets etc.||**-**
**-**
**----------**|**12,042**
**28,687**
**--------**|**12,042**
**28,687**
**---------**|9,990
14,161
---------| |**Total Payments**||**41,030**|**40,764**|**81,794**|58,091| |||**---------**|**--------**|**---------**|---------| |**NET RECEIPTS/(PAYMENTS)**||**9,591**|**2,335**|**11,926**|(722)| |**Cash funds last year end**||**22,718**|**5,494**|**28,212**|28,934| |||**--------**|**-------**|**---------**|---------| |**CASH FUNDS THIS YEAR END**||**32,309**|**7,829**|**40,138**|28,212| |||**=====**|**====**|**=====**|=====| Page 4 **Bedford U3A** ## **Statement of assets and liabilities at the end of the period 30 September 2023** |General
Fund
(Unrestricted)
(Unrestricted)
£
**CASH FUNDS**
Cash in hand
Main account
**151**
**32,158**
Travel Club account
**-**
**32,309**|**30.9.23**
30.9.22
Travel
**Total**
Total
fund
**funds**
funds
£
**£**
£
**252**
**80**
**403**
**32,238**
485
22,538
**7,497**
**7,497**
5,189
**7,829**
**40,138**
28,212| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 27 June 2024 and were signed on its behalf by: ............................................. L Reynolds - Trustee Page 5