Chester u3a Trustees’ Report
Object
The object of Chester u3a is the advancement of education and in particular the education of older people and those retired from full time work, by all means, including associated activities conducive to learning and personal development in Chester and the surrounding area. This is summed up in the u3a slogan of ‘Learn, Laugh, Live’.
Trustees
The Trustees for 2023-24 were: -
Peter Goodhew ( Chair ) Sandra Moffat Trish Langford Sue Foy ( Vice Chair ) Sheila Morrison Steve Moore Hazel Lloyd ( Business Secretary ) Ken Lewis Sue Houghton Dave Houghton ( Treasurer ) Roger Howell Frank Hogan
Financial report
A deficit of £817 is reported, compared to a surplus of £3,033 for 2022-23. This reflects a general increase in costs due to inflation plus higher expenditure in specific areas, set against an unchanged membership fee and the absence of Gift Aid (see below).
There was increased expenditure in some areas, notably equipment (purchase of a new projector) and a meeting held in November for Group Leaders. The Committee agreed at the beginning of the year that our Speaker Programme should be attractive to all members at both venues, and the increased spend on Speakers reflects this ambition. The increased spend on Refreshments includes a cake for the Chester u3a 30th Anniversary coupled with higher attendance figures at Monthly Meetings. The increased spend on Printing & Stationery is largely due to the professional printing of the 2024 Members Survey. Hall Hire appears to be lower than last year, but this is due to timing of invoices from the venues and the amount outstanding is shown as a liability in the Accounts. Overall, reserves are healthy, and the Committee has taken the view that it is appropriate to make such spends as are necessary to give a high-quality member experience.
The number of social events increased in 2023-24, with 11 trips organised during the year compared to seven in 2022-23. Events were delivered on an approximate break-even basis, and the Social Account holds a contingency of £1924 at the end of the year.
Membership subscriptions are shown in the Current Account (£11,218) and Subscriptions Account (£1,223); the total of £12,441 is a slight increase from 2022-23. A total of 966 members were included in the Beacon snapshot in April 2024, which is used to calculate our membership fee to the Third Age Trust, the U3A national representative body. This is charged at £4.00 per member (£3,864). By the end of the year we had 1004 members. We also pay £3.60 per address for the five annual copies of the u3a Matters magazine (formerly Third Age Matters) (£2,896). The fee paid to the Third Age Trust for the Beacon management administration system remains at £1 per member. It is considered that this annual cost of £966
is worthwhile as it ensures that the personal data relating to members is kept secure and provides a very efficient method of staying connected with members by email. It has also allowed members to access and amend their personal data and to renew their annual subscription on-line. We continue to take cheques for membership subscriptions although this does carry an extra administrative burden for the Membership Secretary and Treasurer.
We are awaiting a decision on our application for Gift Aid, so it does not appear in the 202324 accounts. We are aware that other u3a groups have had their claims rejected, which would be disappointing but would not significantly affect operations given our healthy reserves and membership numbers. Nevertheless, we still encourage all members who pay income tax to register for a Gift Aid donation if they have not done so. This can be done through the Members Portal. A Joint membership category is available, which allows us to claim for both members even if only one member is eligible for Gift Aid.
We received a total donation from Riviera Travel of £786 from members who booked holidays with them and requested their Affinity Partnership scheme to be applied to Chester u3a (up to 10% of the holiday cost is donated).
We pay for technical support for the hire of equipment and use of a technician for streaming and recording our meetings at the Festival Church (£1,165). This provision is considered an essential part of our service to members who may find it difficult to attend meetings in-person.
The accounts are prepared on a Receipts and Payments basis in line with the recommendation of the Third Age Trust and Charity Commission. All equipment purchased is therefore written off against receipts in the year of purchase. The Statement of Assets and Liabilities shows assets that are assessed to have a notional value, together with the balances held in cash. The total of these cash balances (£24,580) is very similar to the figure for 202223 (£24,858). The level of cash balances held at the end of the financial year is considered by the Trustees to be at the top end of the level commensurate with this type of charity.
Advance membership subscriptions for 2024-25 (£8,752) received by 31 August 2024 are not included in Current Account Receipts and Payments presented below but they will be brought into the corresponding accounts for 2024-25, along with other subscriptions received in-year.
The accounts have been examined by Richard Morris, Fellow of the Institute of Chartered Accountants in England and Wales.
Peter Goodhew Dave Houghton Chair Treasurer Date 31.10.2024
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|---|---|
|Receipts|
|Subscriptions|
|Riviera|Travel|
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14.463] 9.605 3,745
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|---|---|
|Statement of Assets and Liabilities as at 31 August 2024|
|Item|£|
|Equipment and Stock|1,416|
|Cash at Bank|
|Current account|16,936|
|Rent account|1,595|
|Social Account|1,924|
|Cash in hand with groups|1,745|
|Subscription account|10,506|
|Total assets|34,122|
|Liabilities|
|2024-25 membership pre-payments|8,752|
|Outstanding invoices on Hall Hire|790|
|Total Liabilities|9,542|
|Net Assets|24,580|
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Equipment and Stock as at 31 August 2024
All equipment purchased is fully written off against receipts in the year of purchase. The equipment in the table below has been purchased in recent years and is shown with a notional estimate of the remaining value, based on a straight-line depreciation over the years of life. Other equipment with zero value is still in use by various groups. A full list is held by the Treasurer.
| Equipment Laptop (Social Secretary) Square Payment Device (Treasurer) DVD Player (Film Group) Projector u3a branded goods TOTAL |
Purchase Price £ 370 23 39 829 248 |
Year of Purchase 2023 2024 2024 2024 2024 |
Years of Life 4 2 2 6 2 |
Notional Value £ 278 23 39 829 248 1,416 |
|---|---|---|---|---|
Receipts and Payments for Groups for year ending 31 August 2024
Group funds include money held in the Rent Account. Groups not listed are assumed to have receipts of less than £50 (although not all Groups responded to the request to report).
Receipts and Payments for the Social Committee for year ending 31 August 2024
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Receipts £ Payments £ Surplus/-Deficit £
Balance from 2022-23 1,794.66
TRIP
Peter Pan 335.00 335.00 0.00
Ludlow 590.00 550.00 40.00
Royal Court 336.00 336.00 0.00
Macc Hall
1,018.00 1,017.90 0.10
Drifters 820.50 820.50 0.00
Afternoon Tea 750.00 750.00 0.00
Potteries Museum 710.00 710.00 0.00
Tissington 602.00 560.00 42.00
Canal Trip 160.00 160.00 0.00
Puffin Island 1,460.00 1,402.75 57.25
Southport 1,390.00 1,400.00 (10.00)
TOTAL 8,171.50 8,042.15 129.35
Balance carried forward 1,924.01
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