Charity number: 1077058 

Northampton University of the Third Age (The Northampton U3A) 

Trustees’ Annual Report and Annual Accounts for the year ended 31 March 2024 



1 

## Northampton University of the Third Age 

## Legal and administrative information 

## Registered charity number: 1077058 

## Trustees: 

Sue Shurville (Chair) Stephen Brame (Vice Chair) Eileen Brown (Secretary) Nick Stafford (Treasurer) Jane Evans (Group Liaison Officer) Peter Brown (Webmaster) Tony Kellett (Membership Secretary) Jackie Brame(Communications) Sue Marshall (Social Events) 

## Contact address: 

6 Naomi Close Northampton NN3 3PG 

## independent examiner: 

Natalie Green Natalie Green & Co Chartered Accountants 7G Mobbs Miller House Christchurch Road Northampton NN SLL 

## Bankers: 

The Co-operative Bank PO Box 250 Skelmersdale WN8 6WT 



2 

## Northampton University of the Third Age 

## Trustees’ report 

## for the year ended 31 March 2024 

The trustees present herewith their report and the annual accounts for the year ended 31 March 2024. The accounts consolidate all of the financial activities of the charity, comprising the main account (all general income and expenditure), the social account (trips and outings) and all group leaders’ summary accounts (individual study and leisure groups). 

## Structure, governance and management 

The charity is a registered charity constituted as a trust, and is governed by its constitution adopted on 29 June 1999. The management of the charity is vested in a Committee of trustees, consisting of at least five and not more than twelve members. Trustees are elected annually by the membership at the annual general meeting. All persons interested in supporting the objectives of the charity are admitted to membership at the approval of the Committee and upon payment of an annual subscription. 

## Objectives and activities 

The Northampton University of the Third Age is part of the Third Age Trust (a national registered charity 288007). The objects of the charity, which is a public benefit entity, are: 

- i) to advance the education of the public and in particular the education of middle aged or older ii) people in Northampton and its surrounding locality who are either retired or semi-retired, and to provide facilities for leisure time and recreational activities with the object of improving the conditions of life for the above persons in the interests of social welfare. 

The charity enables members to share educational, creative and leisure activities. This is achieved through over 110 study and leisure groups, a monthly meeting with guest speaker, leisure and educational visits, theatre trips, national benefits from the Third Age Trust including magazines, courses and events, a local newsletter three times a year, an annual lunch and regular social events. 

In planning activities, the trustees keep in mind the Charity Commission’s guidance on public benefit. 

## Achievements and performance 

The charity has continued to fulfil its objectives by means of the activities as summarised above. Details of the income and expenditure for the year are set out in the statement of financial activities on page 4 of the annual report. Total income from all sources for the year amounted to £74,451 and total expenditure was £74,072. The surplus arising of £379 has been transferred to reserves. 

## Policy on reserves 

Reserves are held to either meet specific identified liabilities, to fund special projects or for use asa contingency. The year end reserves are disclosed and analysed in note 8 to the accounts. 

Approved by the trustees and signed on their behalf by 

Sue Shurville (Chair) 

Nick Stafford (Treasurer) 


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# 22 May 



4 

## Northampton University of the Third Age 

## Statement of financial activities 

for the year ended 31 March 2024 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|Un-|Restricted|
|restricted|Income|Total|Total|
|Note|funds|funds|2024|2023|
|Income|from:|£|£|£|£|
|Subscriptions|20,014|-|20,014|17,837|
|Events|1,857|-|1,857|1,750|
|Monthly meetings|“|
|Gift|Aid|2,581|s_|2,581-|-|2,234|
|Miscellaneous|216|
|Investment|income|-|bank|*|216|179|
|interest|413|-|413|58|
|Social|activities|2|-|30,357|30,357|33,036|
|Subscriptions|to|individual|
|groups|
|-|19,013|19,013|14,442|
|Total income|25,081|49,370|74,451|69,536|
|Expenditure|on:|
|Capitation and licences|8,221|=|8,221|3,403|
|Monthly meetings and events|3|7,241|-|7,241|10,682|
|Committee expenses|3|3,120|z|3,120|2,758|
|Other|3|7,260|“|7,260|6,814|
|Social|activities|2|-|29,999|29,999|32,841|
|Expenditure by individual groups|=|18,231|18,231|14,307|
|Total expenditure|25,842|48,230|74,072|70,804|
|Net income/(expenditure)|(761)|1,140|379|(1,269)|
|Net|income/(expenditure)|for the|
|year (as above)|(761)|1,140|379|(1,269)|
|Total|funds|brought|forward|at|1|
|April 2023|23,908|8,678|32,586|33,855|
|31TotalMarch Funds2024 carried forward at|}|23,147|9,818|32,965|32,586|

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5 

## Northampton University of the Third Age 

## Balance Sheet as at 31 March 2024 

|||||Total|Total|
|---|---|---|---|---|---|
|||Un-|Restricted|31|31|
|||restricted|Income|March|March|
|||funds|funds|2024|2023|
||Note|£|£|£|£|
|Current assets||||||
|Debtors|5|5,903|13,002|18,905|8,659|
|Cash at bankand in hand|6|31,912|13,673|45,585|53,165|
|||37,815|26,675|64,490|61,824|
|Creditors: amounts falling due|7|(14,668)|(16,857)|(31,525)|(29,238)|
|within one year||||||
|Net assets||23,147|9,818|32,965|32,586|
|Funds ofthe charity||||||
|Unrestricted funds|8|23,147|-|23,147|23,908|
|Restricted funds|8|-|9,818|9,818|8,678|
|Totalfunds||23,147|9,818|32,965|32,586|



These financial statements were approved and authorised for issue by the trustees on 7 May 2024 and signed on their behalf by: 

Sue Shurville (Chair) 

pate... Leh... Meer... 2024 

Nick Stafford (Treasurer) 

pate... ady...2024 



6 

Notes to the financial statements for the year ended 31 March 2024 

## Northampton University of the Third Age 

## 1 Accounting policies 

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019 (SORP 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice. 

The financial statements are prepared on a going concern basis and under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity. 

## Fund accounting 

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The funds of the social account and the funds held by group leaders are classified as restricted funds. 

## income recognition 

All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Subscriptions received during the financial year pertaining to the next financial year are not reflected in the current year statement of financial activities, but are carried forward as deferred income (shown on the balance sheet) to be reflected in next year’s statement of financial activities. 

Where income has related expenditure, the income and related expenditure are reported gross in the statement of financial activities. 

. 

## Expenditure recognition 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where payments are made in the financial year which relate to the next financial year, the payment is not reflected in the current year statement of financial activities, but is carried forward as a prepayment (shown in the balance sheet) to be reflected in next year’s statement of financial activities. 

## Volunteer help 

The value of volunteer help received is not included in the accounts. 

## Tangible fixed assets 

Tangible fixed assets are capitalised (and hence not shown in the statement of financial activities) if they have an expected useful economic life in excess of one year, and cost in excess of £2,000. Assets which do not meet these criteria are shown as expenditure in the statement of financial activities. An asset register is nevertheless maintained for all tangible fixed assets, regardless of cost, for the purpose of internal control. 



7 

## Northampton University of the Third Age 

## Notes to the financial statements 

for the year ended 31 March 2024 - continued 

## 2 Social activities 

|2<br>Social activities|||
|---|---|---|
||2024|2023|
||£|£|
|Income|||
|Theatre|7,360|12,671|
|Trips|2,867|2,281|
|Groupevents|2,220|2,022|
|Annual holiday|34,648|28,607|
|less receipts inadvance|(16,738)|(12,545)|
||30,357|33,036|
|Expenditure|||
|Theatre|4,030|11,368|
|Trips|2,554|2,195|
|Group events|2,181|515|
|Annual holiday|22,684|23,641|
|Expenses prepaid|(1,450)|(4,878)|
||29,999|32,841|
|Surplusforthe year|358|195|
|3<br>Expenditure analysis|||
||2024|2023|
||£|£|
|Monthlymeetingsand events|||
|Speakers|1,031|777|
|Room hire and refreshments|4,331|4,682|
|Events otherthan monthly meetings|1,879|5,223|
||7,241|10,682|
|Committee expenses|||
|Telephone|31|92|
|Postage|2,442|1,894|
|Travel|172|139|
|Printingand stationery|475|633|
||3,120|2,758|
|Other|||
|Training|1,111|670|
|Equipment|288|163|
|Newsletters|4,505|3,798|
|Web and IT|350|134|
|Miscellaneous|406|1,449|
|independentexamination fee|600|600|
||7,260|6,813|





8 

## Northampton University of the Third Age 

## Notes to the financial statements 

for the year ended 31 March 2024 - continued 

## 4 Trustees Remuneration 

The trustees did not receive any remuneration during the year. Two trustees (2023: 3) had mileage expenses reimbursed by the charity. The total sums reimbursed during the year amounted to £74 (2023: £139). The charity had no paid employees. 

## 5 Debtors 

||2024|2023|
|---|---|---|
||£|£|
|Prepayments|3,884|5,076|
|Otherdebtors|15,021|3,583|
||18,905|8,659|
|6<br>Cash at bank and in hand|||
||2024|2023|
||£|£|
|Currentaccount -main account|5,567|26,547|
|Depositaccounts|26,345|10,226|
|Currentaccount - social account|10,658|14,159|
|Monies held bygroup leaders|3,015|2,233|
||45,585|53,165|
|7<br>~=Creditors -amounts fallingduewithinoneyear|||
||2024|2023|
||£|£|
|Deferred income (receipts in advance)|30,579|28,221|
|Accruals|946|1,017|
||31,525|29,238|





9 

## Northampton University of the Third Age 

## Notes to the financial statements 

for the year ended 31 March 2024 - continued 

||||||At|
|---|---|---|---|---|---|
|||At|||31|
|||1April|Net income/|Other|March|
|||2023|(expenditure)|movements|2024|
|8|Statement offunds|£|£|£|£|
|Unrestricted funds||23,908|(761)|-|23,147|
|Restricted funds||8,678|1,140|-|9,818|
|||32,586|379|-|32,965|



The unrestricted funds represent the free funds of the charity which are not designated for specific purposes. 

The restricted funds related to unexpended income intended for specific purposes and comprise: 

|||2024|2023|
|---|---|---|---|
|||£|£|
|Social|account fund|6,803|6,446|
|Group|leaders’funds|3,015|2,232|
|||9,818|8,678|



## 9 Related party transactions 

There were no related party transactions requiring disclosure during the year (2023: none).