Registered Charity
Aughton & Ormskirk U3A
Accounts for the year ending 31st March 2024
No. 1105255
Aughton & Ormskirk U3A
Accounts for the year ending 31st March 2024
CONTENTS
Independent Examiner's Report to the Trustees
Legal and Administrative Information
Report from the Trustees
Notes to the Accounts
Receipts and Payments Account
Summary of Cash Movements
Statement of Assets and Liabilities
Page
Independent Examiner's Report to the Trustees of
Aughton & Ormskirk U3A
AUGHTON & ORMSKIRK U3A
LEGAL AND ADMINISTRATIVE INFORMATION
Management Committee
Mr J Tomlinson Chairman Mrs P Ball Vice chairman Mrs S Kierans Secretary Mr D Fewings Treasurer Mrs E Dixon Membership Secretary Mrs A Trigwell Membership Secretary Mr P Andrews Mr D Blanchflower Mr M Rimmer Mr L Rippon Mrs M Tomlinson
Status
A Registered Charity (No. 1105255) operating under a Constitution last amended in 2
Bankers
HSBC Bank plc 8 Canada Square, London, E14 5HQ The Co-operative Bank plc PO Box 638, Salford, M5 0JQ United Trust Bank Ltd 1 Ropemaker Street, London, EC2Y 9AW
Principle Address
(Correspondance) P.O. Box 198, Ormskirk, L39 6WY Scouts and Guides Headquarters, Long Lane, Aughton, Ormskirk, L39 5AS
Accountants and Independent Examiners
JVSA, Suite 205-209 Malthouse Business Park, 48 Southport Road, Ormskirk, Lancs, L39 1QR
Report of the Trustees for Aughton & Ormskirk u3a
Structure, Governance and Management
Aughton & Ormskirk u3a is an independently funded and managed organisation. It was founded in one of over 1,400 u3a's overseen by the Third Age Trust (TAT). All u3a's have a shared objective o local people the opportunity to continue to learn and to participate in activities of interest to them.
A&O u3a is managed by a supervisory Board of Trustees, elected annually at the AGM. Four subco deal with day-to-day detail and offer support to the trustees.
Membership
The number of members not renewing each year is now closely aligned with the number recruited o year, giving us around 1,500 members.
Finances
The finances are overseen by the Finance subcommittee, led by the Chairman of MC and Hon. Trea accounts are inspected annually by JVSA Accountants of Ormskirk.
On resumption of activities after Covid lockdown, we introduced a fee for premises-based activities according to the hourly cost of room hire, the duration of the session and the number of attendees. T from those fees over the 2023-2024 financial year (£44,937) closely align with the payments made f hire (£43,651). We have absorbed an increase of around 10% in room hire costs and met our objecti pool of premises-based activities is self-funding.
During 2023/24, our bank balance has increased by around £11,000 to a financial year-end figure of £90,800. Given that activities are broadly self-funding, the increase in bank balance is attributable to from members' annual subscriptions exceeding that required to cover administration costs such as p the Third Age Trust, production of our magazine, equipment and the normal office costs.
Historically, we produced four issues per year of an A4-sized magazine and posted a considerable n those to members. The key factor causing a reduction in payments is the move to three issues per ye A5-sized magazine which members can collect from various venues.
With our healthy reserves and reduction in annual spend, the Management Committee intends to pu proposition to the AGM that the annual membership subscription be reduced from £15 to £10.We ar comfortable that an annual membership subscription of £10 is sustainable for the foreseeable future
The Future
We have coped with the increase in room hire costs which the hall providers needed to introduce, to increases in utility costs. Competition between room providers means that room hire costs are likely steady in the short term. As per the observation made last year, we play an important role in ensurin premises remain viable and available to the wider community.
Especially with regard to technology and finance, our u3a relies on some members with specialist sk ensure continuity, we need members with appropriate skills to step forward, shadow the current coh specialists and take on the roles when the current specialists step down.
I would like to offer my thanks to my fellow Trustees and to all members who take part in leading a organising activities and to those who support us by catering, setting up tables and chairs etc.
John Tomlinson Chair of the Trustees
3
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Aughton & Ormskirk U3A
Notes to the accounts for year ending 31st March 2024
These accounts are produced on a 'Receipts and Payments' basis, an approach sanctioned by the Charity Commission for charities with a turnover up to £250,000. The 'Receipts and Payments' basis for accounts is simpler than the 'Accruals' basis used by larger organisations in that it takes account of just the receipts and payments statemented within the financial year.
An insight into the accruals (e.g. the value of services received but not yet paid for, or the value of services paid for but not yet received) is given on the Assets and Liabilities page.
A) Administration
- 2 The HSBC Main account (supplemented by PayPal and United Trust Bank accounts) is funded by members' annual subscriptions and the associated Gift Aid which has been claimed from HMRC. These are used to cover the administrative overheads of the U3A; specifically: (a) member's subscription to the Third Age Trust, (b) use of the TAT Beacon system, (c) production and distribution of the magazine, (d) website, email and telephone, (e) professional fees and (f) other typical office costs.
B) Activities
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3 The aim is for total activity-related receipts to cover total activity-related payments. We do not expect each individual activity to be self-funding; although, in the case of tutors, coach hire and theatre tickets, the individual member is expected to make a contribution that covers the cost relating to him/her. The HSBC Groups account and the Co-operative Bank account are simply conduits facilitating payment of service providers (room hire, coach hire, tutors…) from financial contributions made by members. The U3A takes no fees or commission for facilitating payment of suppliers from members' financial contributions.
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4 The payments for hire of the Aughton Village Hall and The Civic excludes those payments associated with the rehearsals of Drama and Musical Theatre productions. In these two instances, the cost of hiring premises is is bundled in with the production expenses.
C) Policy on Cash Reserves
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Our level of cash reserves is intended to meet known and expected liabilities in the short and medium term, and to act as a contingency provision to secure the long-term continuation of the U3A's organisation and its activities.
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The trustees have agreed that, in pursuit of these objectives, the U3A should hold cash reserves equivalent to approximately six months expenditure. This is consistent with the guideline offered by the Third Age Trust.
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A significant element of our expenditure is pre-funded by members' contributions and, as such, does not represent a liability. Effectively, the U3A is acting as a conduit of members' money to be passed straight through to a third party. Instances of 'straight through' money include contributions covering the cost of tutors, theatre tickets, coach hire and other costs associated with field trips and study tours. In establishing the monery value of six months expenditure, the trustees have agreed that the expenditure which is prefunded by members' contributionss can be omitted from the calculation.
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The policy on cash reserves will be subject to review from time to time by trustees and may be modified in the light of changing conditions.
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Aughton & Ormskirk U3A
Receipts and Payments Account
Period : 1st April 2023 - 31st March 2024
| TO | TAL RECEIPTS | TAL RECEIPTS | TAL RECEIPTS | TAL RECEIPTS | TAL RECEIPTS | TOT | AL PAYMENTS | AL PAYMENTS | AL PAYMENTS | AL PAYMENTS | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Hired rooms Attendees' session fees Tutors Trips (theatre, Philharmonic etc) Productions (drama, musicals) Events (Social Committee etc) Bookstall Sundry items Activities sub-total ACTIVITIES Ring-fenced, straight through receipts Activities: surplus receipts versus payments |
£ £ 44,937 36,422 12,000 8,697 8,152 377 20 110,603 1,695 2023-2024 Apr-Mar TOTAL (ALL UNRESTR |
£ £ 44,149 36,124 12,556 6,186 4,135 276 15 103,441 6,325 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
ACTIVITIES Hired rooms Rooms at S&G HQ Rooms at AVH Rooms at other venues Sub-total Tutors Trips (tickets, coach etc) Production expenses Events Sundry items Activities sub-total |
£ £ 16,760 9,601 17,290 43,651 38,763 11,295 6,575 8,170 456 108,908 2023-2024 Apr-Mar TOTAL (ALL UNRESTR |
£ £ 16,200 8,380 16,298 40,878 36,160 10,630 3,865 4,719 864 97,116 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
|||||||||
| £ £ 44,149 36,124 12,556 6,186 4,135 276 15 103,441 6,325 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
£ £ 16,200 8,380 16,298 40,878 36,160 10,630 3,865 4,719 864 97,116 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
|||||||||||||
| £ 44,937 36,422 12,000 8,697 8,152 377 20 110,603 1,695 |
£ |
|||||||||||||
| 43,651 38,763 11,295 6,575 8,170 456 |
40,878 36,160 10,630 3,865 4,719 864 |
|||||||||||||
| 110,603 1,695 |
103,441 6,325 |
108,908 | 97,116 | |||||||||||
| ADMINISTRATION Members' subscriptions (including donations) Gift Aid TAT diaries Interest on deposits Sundry items Admin. Sub-total Admin.: surplus receipts versus payments |
ADMINISTRATION Third Age Trust Membership (& insurance) General/magazine TAT diaries Sub-total Magazine/Newsletter Speakers Website/internet/'phone Equipment Office (post, printing, PO box photocopier, ….) Meetings Independent examiners Fees (banks, PayPal, SumUp) Sundry items Admin. sub-total |
|||||||||||||
| £ £ 22,770 3,438 279 385 26,872 9,326 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
£ £ 6,056 1,695 284 8,035 2,165 449 491 1,712 1,579 588 1,050 1,229 248 17,546 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
|||||||||||||
| NRESTR | NRESTR | |||||||||||||
| £ 21,910 4,133 301 1,441 38 27,822 12,404 |
£ |
£ 8,052 1,379 449 209 1,425 1,477 260 1,560 533 74 15,418 |
||||||||||||
| 8,052 1,379 449 209 1,425 1,477 260 1,560 533 74 |
8,035 2,165 449 491 1,712 1,579 588 1,050 1,229 248 |
|||||||||||||
| 27,822 12,404 |
26,872 9,326 |
15,418 | 17,546 | |||||||||||
| TOTAL RECEIPTS | TOTAL PAYMENTS | |||||||||||||
| £ £ 130,313 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
£ |
£ £ 114,662 2022-2023 Apr-Mar FUNDS ICTED FUNDS) |
||||||||||||
| NRESTR | NRESTR | |||||||||||||
| £ 138,426 |
£ 124,326 |
|||||||||||||
| Account balance 01/04/23 | £79,793 | Account balance 31/03/24 | £93,892 |
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Aughton & Ormskirk U3A
Period: 1st April 2023 - 31st March 2024
Summary of Cash Movements
| Account | Opening bal. 01/04/23 |
Receipts | Payments | Net transfers (inter account) |
Closing bal. 31/01/24 |
|---|---|---|---|---|---|
| HSBC Main | 9,882 | 4,444 | -14,910 | 13,500 | 12,916 |
| HSBC Groups | 5,898 | 13,250 | -106,510 | 92,000 | 4,637 |
| PayPal | 518 | 13,600 | -324 | -13,500 | 294 |
| Co-operative(note 1) | 7,978 | 105,691 | -2,582 | -92,000 | 19,087 |
| United Trust Bank | 55,517 | 1,441 | 0 | 0 | 56,958 |
| TOTAL | 79,793 | 138,426 | -124,326 | 0 | 93,892 |
Note 1: The opening balance of the Co-operative Bank account includes £1,350.13 unbanked cash & cheques.
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Aughton & Ormskirk U3A
Statement of Assets and Liabilities at 31st March 2024
| £ ASSETS CASH AT BANK HSBC Main account 12,916 HSBC Groups Account 4,637 Co-operative account 16,015 PayPal account 294 UTB 1- year bond 56,958 CASH & CHEQUES IN HAND Subscriptions 45 HSBC Main a/c HSBC Groups a/c Co-op a/c 3,071 DEBTORS Rental prepayment (S&G HQ) Tutor prepayments HMRC (Gift Aid) United Trust Bank accrued interest unpaid TOTAL ASSETS |
£ |
|---|---|
| 90,821 | |
| 3,116 4,000 3,723 1,052 |
|
| 102,712 | |
| LIABILITIES CREDITORS Invoices received after 31st March Unpresented cheques Pre-paid contributions toward tutor costs (estimated) Independent Examiners' fees Third Age Trust membership/Beacon subscriptions TOTAL LIABILITIES |
2,158 0 3,500 1,590 7,500 |
| 14,748 | |
| NET ASSETS | 87,965 |
| Approved by the following on …............../…............./2024 Derrick Fewings …................................................ Hon. Treasurer John Tomlinson …............................................... Hon. Chairman Sheila Kierans …............................................... Hon. Secretary |