## **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** 2003 and is of offering ommittees over the asurer. The s that varies The receipts for room ive that the f around o receipts ayments to number of ear of an t a re . o cover y to stay ng that those kills. To iort of Ind **4** ## **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 - 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. - 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 * 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. * 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. * 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. * 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. **5** **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||||| **6** ## **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. **7** ## **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||