UNIVERSITY OF THE THIRD AGE- LUTON ACCOUNTS 31ST MARCH 2024 Registered Charity No. 1064863 FOXLEY KINGHAM
UNIVERSITY OF THE THIRD AGE- LUTON ACCOUNTS 31ST MARCH 2024 Contents Page Report of the Trustees Statement of Financial Activities Balance Sheel Notes to the Accounts Independent Examiner's Report
Page 1 UNIVERSITY OF THE THIRD AGE- LUTON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The Trnstees present their annual report together with the accounts for the year ended 3 1st March 2024. They are prepared in accordance with the accounling policies set out in note I to the accounls and comply with the charity's trust deed, the Charilies Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK an Republic of Ireland {FRS102) (effective I st January 2019). Objectives and activities The object of the charity is the advancement of education and, in particular, the educaiion of older people and those who are retired from full time work by all means, including associated activities conducive to learning and personal development. The Trustees have referred to the guidance contained in the Charity Commisston's general guidance on public benefit when reviewing aims and objectives and in planning fijture activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Achievements and performance The charity has once again held regular face to face monthly meetings for members throughout the year. The social activity groups have once again held face to face activities.The orgallisation has carried out its activities wiihin its budget for the year. Financial review The income for the year amounted to £27,089 and has been used to fulfil the objects of the charity. The surplus for the year was £ I, I l O. Reserves policy Unreslricted funds accordance with guidelines issued by the Charily Commissioners, the Trustees have adopied a policy regarding rcserves which should ensure that there are adequate funds to enable the charity lo meet all current and known future liabilities. The level of reserves is considered and reviewed at regular intervals by the Trustees. Structure, Governance Ydnd Management Governing document The Charity is governed by a constitution fornially adopted on 12th August 2002 and subsequently amended on 27th June 2018 and 17th May 2021. Organisation The names of the Trustees who served during the year are set out below. TNstees meetings are held on a regular basis. Risk management The Trustees cary out an annual review of the risks which the charity may face, have established systems and procedures to mitigate any risks identified and minimise any potential impact should any idenlified risks materialise.
Page 2 UNIVERSITY OF THE THIRD AGE- LUTON REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Reference and administrative details The Charity The charity is a registered charity, number 1064863. Correspondence address Flat 8, 38 Siudley Road, Luton, Beds, LU3 IBB. Trustees The charity is administered by an Executive Committee as follows: Mr D Wilson Mr S Rutstein Mrs E Allam Mr A Cline Mr R Putman Mrs H Corfan Mrs W Kinninmonth Mrs G tndge Mrs C Chamberlain Mrs P Carey Mr A Russell (Died 03.03.24) (Appointed 26.12.23) For and on behalf of the Executive Committee Mrs G Indge Chair Date aow 2oa
Page 3 UNIVERSITY OF THE THIRD AGE- LUTON STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2024 Unrestricted Funds 2024 2023 INCOME FROM: Donations and gift aid Charitable activities.. Membership fees Meetings subscriptions Diary sales Other income: Social group activities Investments: Bank interest 2,299 1.317 11,053 5,880 81 9,536 5,487 87 7,681 14,062 95 27,089 20 30,509 EXPENDITURE ON: Charitable activities: Diary purchases General Meetings room hire Speakers fees Administration expenses Marketing Subscriptions Committee mcetings Independent examiner Equipment Group support In Touch Affllialion fees and beacon licence RHS affiliation U3A News Other activities: Social group activities 385 8,896 1,115 875 205 64 508 744 95 56 1,822 3,145 45 1,312 310 8,031 948 1,327 536 708 201 144 1.917 3,346 45 1,292 6,712 13,207 25,979 32,012 NET MOVEMENT IN FUNDS 1,110 (1,503) Reconciliation of funds: Total funds brought fonvard I st April 2023 17,301 18,804 Total funds Cvdrried forward 31st March 2024 18,411 17,301
Page 4 UNIVERSITY OF THE THIRD AGE- LUTON BALANCE SHEET- 31ST MARCH 2024 2024 2023 CURRENT ASSETS Bank - current account Bank - social account Bank - deposit account Cash in hand Prepayments 10,456 8,021 7,941 254 250 10,156 7,052 7,846 254 250 26,922 25,558 LESS: CURRENT LIABILITIES Income in advance and accruals 8,511 8,257 8,511 8,257 TOTAL NET ASSETS 18,411 17,301 Represented by: ACCUMULATED FUND 18,411 17,301 The commitlee approve these accounts and confinn that ihey have made available all relevant records and inforn]ation necessary for their prq)aration. For and on behalf of the Committee Mr R Putman Treasurer Mrs G Indge Chair Date Zo fflk9Y Zoz<
Page 5 UNIVERSITY OF THE THIRD AGE- LUTON NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES (a) Basis of preparation The accounts have been prepared under the historical cost convention, and in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Rq)ublic of Ireland (FRS102) (effective 1st January 2019) and the Charilies Act 2011. The presentation currency of the accounts is in Pounds Sterling (£), which is the functional currency of the charity. The charity meets the definition of a public benefit entity under FRSI 02. (b) Fund structure Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restriclions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged againsl the specific fund. (c) Income recognition Income is accounted for on a receivable basis. (d) Expenditure recognition All expenditure is accounted for on an accruals basis and has bcen classified under headings that aggregate all costs related to the calegory. Charitable expenditure comprises those costs incurred by the charity in the delivery of it's activities. RELATED PARTY TRANSACTIONS None of the trustees claimed expenses from the charity during the year (2023 £nil). None of the trustees received any remuncration from the charity during the year (2023 - £nil)
Page 6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UNIVERSITY OF THE THIRD AGE- LUTON I report to the trustees on my examination of ihe accounts of University of the Third Age - Luton (the Charity) for the year ended 31 st March 2024. Responsibilities and basis of report As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordence with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Charity's accounts carried out under seclion 145 of the 2011 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 confirni ihal no material matters have come to my attention in connection with the cxamination giving me cause to believe that: (l ) accounting records were not kept in respect of the Charity 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 forni and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that ihe accounts give a 'lrue 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 underslanding of the accounts to be reached. Tara Aldwin ACA FKCA LIMITED Chartered Accountants 260 - 270 Butterfield Great Marlings Luton Beds LU2 8DL 71