u3a= Rodlng Vdl•y Report of the Trustees and Financial Statements for the year ended 31 May 2024 for Roding Valley u3a The Trustees Annual Report for the period l June 2023 to 31 May 2024 A. Reference and Administrative Details Charfty Name Other names charity is kn(hvn by Registered Charity Number Charitvs Principal Address RODING VALLEY UNIVERSITY OF THE THIRD AGE (U3A) "Roding Valley u3a" and "RV u3a- 1116143 IA Tower Road EPPING Essex CM16 SEL Names of the tharfjty trustees who manage the charity Trustee name Office (rf any) Date Appointed Date Resigned MetlKKI of App)intment Chair 2111112022 2011112023 Elected by Members 21111/2022 Elected by Members 2011112023 2VII/2022 1511012018 2111012019 2VIII2022 161OV2023 201Iy2023 1811212023 2011112023 2011112023 20/IV2023 Janet Woods Laura Blake Appointed Chair Andrew Forrest Andy Quaife Ruth Newman Secretary Treasurer Elected by Members Elected by Members Elected by Members Elected by Members Co-opted by Trustees Elected by Members CTropted by Trustees Elected by Members Elected by Members Elected by Members 20/IV2023 20/IV2023 Sue Baker Jacqui Steinberg Sara Day Graham Witherbck David Linnell Peter Rowles Names and addresses of advisors Type of Advisor Independent Examiner Bankers: Name Greville John Nomian CPFA AGP Natwest Bank. Address 102 High Road, Loughton. Essex IGIO 4A5 Page I I B. Structure. Governance and Management Description of the charit(s trusts Type of Governing Document Constitution How the charity is constSttrted Unincorporated charity Elected annually by members. Trustees who join after an AGM are Co-opted Governance At the Annual General Meeting {AGM) on the 20 November 2023, a new constitution was approved by the members. This was based on the national model constitution and agreed with the u3a Trust. The Executive Committee (which consists of all of the RV u3a Trustees) should consist of 4 officers - Chair, Vice Chair, Secretary and Treasurer. The nurnber of trustees shall be not less than 5 and not more than 15. During the year 2023-2024, the Executive Committee had 3 officers Chair. Secretary and Treasurer. together with another 5 trustees. No member stood for election as Vice Chair. a) The maximum total period of service of any trustee shall be 9 years in any combination of roles whether or not the periods of service are contiguous. b) No-one may hold any specific offI￿r position for a continuous period in excess of 6 years. c) All trustees shall be elected annualty but may be re-elected subject to the provisions in a) and b) above At each annual general meeting the members of RV u3a shall elect up to 12 trustees (including officers) and the elected trustees may. at any time. co-opt up to 3 trustees until the next annual general meeting. Upon adoption of new constitution RV u3a is pemiitted to continue with the ternis of membership for those trustees eligible to continue as trustees under the charity's previous constitution with the proviso that all and any transttional arrangements end before the third annual general meeting after the constitution is adopted. This includes the application of the paragraph from the previous constitution that states "if no nomination is received for one or more officer roles, and no member nominated for the new committee is willing to serve as an ofFicer, the retiring officer may be asked at the AGM to continue to serve in that role for no more than one year." Advantage may be taken of these clauses if there are no members standing for election to replace the current Treasurer. Management and Structure RV u3a have over 40 memberswho volunteer on a regular basis, and their work is truly appreciated, but several trustee and support roles are currently vacant. and the Executive Committee are looking for new volunteers. Page12 C. Objectives and Activities Objertlve RV u3a's objective 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 Northeast London and South Essex. RV u3a's activities are organised and run by members who volunteertheir time, experience, and expertise. Artivities RV u3a continues to offer a wide range of interest groups and activities. It also organises monthly talks and social events, to encourage learning and personal development. Membership Membership is open to older people who are no longer in full-time employment. New members can join at any time. On 31 May 2023, membership stood at 420. During 2023-2024, a number of people left for various reasons. but 73 people joined RV u3a. On 31 May 2024, membership stood at 422. In June 2024. this rose to 429, as people waited to join in the new subscription year. Volunteers The Trustees are grateful for the many hours all the volunteers have spent to SUPPOrt RV u3a. At the monthly meetin& we have members making tea. setting up the technology, greeting new members and running stalls where members can swap. books. jigsaws and puzzles. The interest groups are run by a strong group of convenors and the outings, trips and social events are organised by teams and individuals. to provide a wide variety of activities for the members. The Executive Committee works continuousty to ensure RV u3a runs smoothly and meets the objectives as stated above. During 2023-2024 there was a shortage of members for administratNe tasks. which meant more work for the Trustees. This position will be reviewed at the 2024 AGM. Public Benefft The Trustees have complied with their duties as defined in the Charities Act 2011 and other ￿levant legislation and have paid due regard to the public benefft guidance published by the Commission. The Trustees have: l. Ensured RV u3a is carrying out its purposes for the public benefrt 2. Complied with the RV u3a governing document and the law 3. Acted in the best interests of RV u3a 4. Managed RV u3a's resources responsibty 5. Acted with reasonable care and skill 6. Ensured RV u3a is accountsble All Trustees have been provided with indurtion training. either on a one-to-one basis or via the Trustee Induction Training Pack. Page13 D. Achievements and performance Interest Groups Throughout the year the Group Co-ordinator has been working very hard supporting the convenors and setting up new interest groups. RVu3a now has 30 interest groups, and they meet in different places depending on the needs of the group and its members. A number of groups meet in the Oak Room at Theydon Bois Village Hall which RV u3a hire every Monday and Tuesday afternoons. This includes Keep Fit, World History, Dupltcate Bridge, Book Club, Cryptic Crossword and Rummikub where the numbers are too big to meet in somebody's house or there are parking difficulties. Some groups meet in member's homes: these include the Gardenin& Stitchery. Science, Discussion Group, Film Club, Lives of Artists, Creative Writing and Family History Group, Sometimes the materials used by the Group mean that other accommodation needs to be found as with the Practical Art group which meets in the Jack Silley Pavilion in Epping. Visits to local tea shops. cafes. hostelries and curry houses remain very popular with members. RV u3a also share a number of groups with other local u3as where there are not enough members to run the group. Some of these are hosted by RV u3a and others by another u3a and the meeting places vary accordingly. The number of groups does not stand still. This year a number of new groups have started, including the Curry Club, LNes of Artists and Current Affairs. Sadly the Jazz Group closed after many years. The Executive Committee wish to thank all those involved in managing the Jazz group for so long. All the group convenors work realty hard organising their groups and tt is very much appreciated by all those taking part. Activities There are many other activities and events that members can join without being part of a regular group. Outings have included a tour of the Wallace Collection. a day trip to Aldeburgh and a backstage tour of the Theatre Royal. There have been walks in the local area and in London. The members have strolled around the River Lee Country Park, the Isle of Dogs and Regents Canal. Theatre visits have included The Mouse Trap. Private Lives and Crazy for You. Interest in these visits continues to grow. The Sunday Afternoon Concerts at the Royal FestNal Hall also continue to be very popular. The members acknowledge the work that goes into organising such events. soc.ial Life The highlight of this yearfs social calendar was the 20 Anniversary Event. 60 members came together to celebrate this milestone. There have also been two very successful quizzes. All social activities are run by the Social Events Team. who work hard to ensure everything Tuns like clockwork. Monthly Meetings The RV u3a monthly meetings continued to be very popular. A wide variety of tslk were given. Topics ranged from "the life of a stunt woman". to -Buddy Hollf to "the Do￿5 Trusf. Thanks goe5 to the l)onorary speaker secretary. Page14 The monthty meeting relie5 on the work done by non-committee members. who give their time voluntarily for the benefit of other members and to whom Executive Committee wish to thank. New Members Meeting Due to limited resources, a new member meeting was not possible during the year, but plans are in place to address this. Adxiertising RV u3a's Executive Committee have been using social media to increase the u3a's profile. Articles have been placed on several local community groups Facebook pages. It is hoped this will attract new members Membership Management The Beacon Membership system has been a great Suc￿sS and enabled RV u3a to streamline the management of its members data and is used by a number of group convenors to manage theirgroups. The RV u3a Website. A new RV u3a website is under development. This has taken longer to complete than hoped due to restricted resources. E. Financial Review The receipts and payment5 account is fomiatted into two columns: Unrestricted funds reflecting the general activities of the U3A Designated funds which represent the "social" artivities e.g. theatre, outings etc where movement on the funds is mre related to the timing of receipts and payments for particular events. Unrestricted Funds Summary Receipts Payments (Deficit) 2024 Change £11,241 £10.497 £ 744 -£12,541 412.669 £ 128 -1% 4 13(Xl 4 2.ln £ 87Z 40% Current year subscription income increased £182 with fewer members paying early in the previous year while payments for next year increased by £72. The annual subscription was maintained at £16 albeit budgeting a loss for the year continuing a period of actively utilising reserves. Membership ended the year at 422, similarto the previous yearof 420. Group hall hire receipts were £237 higher as charges were increased in the latter part of the year to reflect costs incurred. Interest income improved by £309 reflecting increased interest rates. Payments in total decreased slightly. Group Hall hire was up £583 with summer holiday mindfvlness artivities plus increased hall hire rates both at TBVH and the Jack Silley pavilion. Hall hire for monthly meetings is down with reduced charges for the ancillary rooms and putting out our own chairs. U3A costs for membership are comparable to last year. Magazine costs show as a reduction as the previous year included two years expense. There is a new charge for the use of the Beacon membership system with £806 representing two years expense. Page15 Newsletter and postage costs are down reflecting the reduction in printed/posted newsletters. Other costs show an increase with PAT testing of our electrical equipment plus increased AGM printing costs. See Appendix I for a breakdown of receipts and payments per member. The net deficit of £1,31J) leaves total unrestricted funds at £15,541. (2023: £16.841}. The committee has established a reserves policy to hold 12 months expenditure as a reserve. Designated Funds Designated funds represent monies held in separate bank accounts to fund specific activities and encompass. Art Appreciation, Bridge. Concerts. Outings. Social and Theatre. The overall receipts for the year were significantty higher as the theatre activities in particular have increased substantially after restsrting during 2023. Receipts 2024 Theatre £ 10.846 Outings 5.722 £ Social 4.613 £ Other 3512 £ 3,114 24.f￿3 £ 13.884 2023 3,449 4,821 A full breakdown of the indivFdual movements can be found in note 9 of the financial ststements. Overall designated funds increased by £957 during the year with both Outings and Social groups collecting funds for activities which were paid for after the year end. The balance at the year*nd on designated funds is £4.972 which is considered more than adequate to cover commitments at the year end. F. Other Optional Information The Chaimian would like to express her thanks to the members of the Executive Committee and all the members who have given up their time to support all the activities of RV u3a. Everyone's hard work, commitment and patience has been truly appreciated. G. Declaration The trustees decla￿ that they have approved the trustee< report at the meeting of the Executive Committee on 19 August 2024 Signed on behalf of Roding Valley u3a's Trustees. Signature Full Name Position Date Laura Blake Chair 19 August 2024 Page | 6 APPENDIX I Analysis of Receipts and Payments Per Member The following anatysis gives a breakdown or receipts and payments per member. Receipts per Member 422 Members £ each £ 15.63 i.io £ Total Subscriptions Interest & Other Subscriptions in advaTr￿ £ 0.88 Gift Aid 2.77 £ Total Receipts 6.594 466 372 1.169 8.601 £ 20.38 GiftAid. £2.77. 14% Receipts per Member Subscripiions in a(fvan¢e. £0.88. 4% Inlerest & Other. £1.10.5% Subscriplions, EIS.63. 77% Payments per Member 422 £ each 2.05 £ 866.(K) Members Total Group Hall Hire (netr Monthly Hall Hire Speake u3a Membershlp 3.94 £ 1,664.(y) TAM & other u3a costs £ 2.65 £ 1.117.20 Beacon 1.91 £ 805.67 Newsletter / postage 0.84 £ 355.15 Other costs 1.32 £ 559.(Xl £ 23.46 £ 9,901.02 8.58 £ 3.619.(x) 2.17 £ 915.(Kl Olherc05ts. £1.32. 6% N4¥￿letter/ ￿$lage. £0.84.4% GroupHall Hire Inetl. .05. Beacon. £1.91.8% Payments per Member TAM& otheru3a cosl5. £2.65. 11% Monihty HailHife. £8.58. 36% u3a Memtership. . £3.94, 1796 Speakers. £2.17.9% Note: Payments include net group hall hire costs, i.e. receipts for group hall hire have been netted against payments. Page17 Independent Examiner's Report Report to the trusteesl members of RODING VALLEY UNIVERSITY OF THE THIRD AGE (U3A) On accounts for the year ended Charity no {if any) 31 MAY 2024 1116143 Set out on pages CfL IZ Respective responsibilities The charity's truslees are responsible for the preparafr.on of the accounts. The charity's of trustees and examiner trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charits"es Act) aTrJ that an independent examination is needed. It is my responsibility to= examine the accounts urKler section 145 of the Charities Act, follow the procedures laid down in the general Directions given by the Charity Commission (under section 14515llbl of the Charities Act, and stste whet￿r particular matters have come to my attenkn'on. Basis of independent My examination was carried out in accordan￿ with general Directions given by the Charity examiner's statement Commission. An examinats.on includes a review of the accounting records kept by the charity and a comparison of the accounts presented V￿th those records. It also indudes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustee5 con￿mIng any such matters. The procedures undertaken do not provide 211 evidence that would ￿ requirell in an audit, and consequently no opinion is given as to whether the accounts present a 'tnJe and fair, view and the report is limited to those matters set out in the statement below. Independent examinerfs In connection with my examinatson. no matter has c(¥ne to my attention (8t1*￿ statement d￿61$￿￿"} which gives me ￿asonable cause to believe that in. any material ￿pec¢ the requirements.. to keep accounting records in accordan￿ sedion 130 of Ihe Charikn"es Act,. and to prepare accounts whi(* accord with the accounting records and comply with the accounting requirements ofttE Charities Act have not been met or 2. to which, in my opinion, attention should be drawn in order to enable a propèr understandirKJ of the accounts to be reached. . Please delete the words in lh8 brackets rfthey do not apply. Date: Signed: 28 August 2024 Name.. Greville John NORMAN Relevant professional qualification(s)-. CPFA AGP Address: Dukesend. 120 Dukes Avenue Theydon Bois. Epping Essex, CM16 7HF Page 8 **RODING VALLEY UNIVERSITY OF THE THIRD AGE - Registered Charity No: 1116143 FINANCIAL STATEMENTS FOR THE YEAR FROM 1ST JUNE 2023 TO 31ST MAY 2024** |**RECEIPTS AND PAYMENTS ACCOUNT**
**Notes**
**RECEIPTS**
Subscriptions Current Year
Subscriptions New Year
Gift Aid
Activities total
**2,6**
Group Hall Hire
Other Receipts
**3**
**Total Receipts**
**PAYMENTS**
Activities total
**2,6**
Group Hall Hire
Monthly Meetings :
Hall Hire
Speakers
U3A costs :
Membership fee
Magazine/Other
Beacon
Newsletter/postage
**4**
Other costs
**5**
**Total Payments**
**(Deficit)/Surplus of receipts/payments**
Accumulated balance brought forward
**Total Funds**
**Represented by**
Current Accounts
Deposit Accounts
Activities Accounts
**6**
**Total Cash**
**Represented by Funds**
Unrestricted Funds
Activities Funds
**6**
**Total Funds**|**2024**
**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total Funds**
6,594
6,594
372
372
1,169
1,169
24,693
24,693
2,640
2,640
466
466
**11,241**
**24,693**
**35,934**
23,736
23,736
3,506
3,506
3,619
3,619
915
915
1,664
1,664
1,117
1,117
806
806
355
355
559
559
**12,541**
**23,736**
**36,277**
**(1,300)**
**957**
**(343)**
16,841
4,015
20,856
**15,541**
**4,972**
**20,513**
315
315
15,226
15,226
4,972
4,972
**15,541**
**4,972**
**20,513**
15,541
15,541
4,972
4,972
**15,541**
**4,972**
**20,513**|**2023**
**Unrestricted**
**Funds**
**Designated**
**Funds**
**Total Funds**
6,412
6,412
300
300
1,225
1,225
13,884
13,884
2,403
2,403
157
157
**10,497**
**13,884**
**24,381**
15,207
15,207
2,923
2,923
4,013
4,013
889
889
0
1,660
1,660
2,276
2,276
560
560
348
348
**12,669**
**15,207**
**27,876**
**(2,172)**
**(1,323)**
**(3,495)**
19,013
5,338
24,351
**16,841**
**4,015**
**20,856**
1,573
1,573
15,268
15,268
4,015
4,015
**16,841**
**4,015**
**20,856**
16,841
16,841
4,015
4,015
**16,841**
**4,015**
**20,856**| |---|---|---| Page 9 STATEMENT OF ASSETS AND LIABILITIES 2024 2023 Deslgnated Funds Unrestricted Funds Deslgnated Funds Unrestricted Funds Total Funds Total Funds A55ets Flxed Assets at WDV Debtors - monles pald for future events 1,364 1,364 3,504 3,504 Current accounts Dep051t accounts Total Cash accounts 315 15,226 15,541 4,972 5,287 15,226 20,513 1,573 15,268 16,841 4,015 5,588 15,268 20,856 4,972 4,015 Total Assets 15,541 6,336 21,877 16,843 7,519 24,362 Llabilities Invoices for May Monies received for future events Subscriptions in advance Total Llablllties 1,084 1,084 2,657 372 4,113 1,037 1,037 3,745 300 5,082 2,657 3,745 372 1,456 300 1,337 2,657 3,745 Total Net Assets 14,085 3,679 17,764 15,506 3,774 19,280 The financial statements on pages1 to IZ were approved by the trustees on 19/0812024 and signed on their behalf by Laura Blake - Chairman Andy Quaife - Treasurer Page 10 ## **RODING VALLEY UNIVERSITY OF THE THIRD AGE - Registered Charity No: 1116143 FINANCIAL STATEMENTS FOR THE YEAR FROM 1ST JUNE 2023 TO 31ST MAY 2024 NOTES TO THE FINANCIAL STATEMENTS** ## **Note** ## **1 Basis** The financial statements have been prepared in accordance with the requirements of the Charities Act 2011, and the Charities (Accounts and Reports) Regulations 2008 using the receipts and payments basis. Income is recognised when cash/cheques are deposited in the bank, payments are recognised when cheques/electronic payments are issued. ## **2 Funds** Unrestricted funds represent the funds of the Roding Valley U3A that are not subject to any restrictions regarding their use and are available for application on the general purposes of the RVU3A. Designated funds represent accounts held for specific outings and events, surplus amounts generally represent monies paid in advance by members for upcoming outings and events and may vary from year to year depending on the timing of ticket sales/receipts and payments to suppliers. |**3**
**Other Receipts**
Donations
Bank compensation
Interest on Deposit account
**4**
**Newsletter and related costs**
RVU3A newsletter
Postage etc
Total
**5**
**Other costs**
Committee expenses
TBVH subscription
Group expenses
Sundry expenses
AGM expenses|**2024**
-
-
466
466
231
124
355
-
250
34
180
95
559|**2023**
-
-
157
157
353
207
560
-
250
30
42
26
348| |---|---|---| Page 11 ## **RODING VALLEY UNIVERSITY OF THE THIRD AGE - Registered Charity No: 1116143 FINANCIAL STATEMENTS FOR THE YEAR FROM 1ST JUNE 2023 TO 31ST MAY 2024 NOTES TO THE FINANCIAL STATEMENTS** ## **6 Designated Funds** ## **2023/24** |**Activities**
Outings
Social
Theatre
Bridge
Art Appreciation
Concerts
**2022/23**
**Activities**
Outings
Social
Theatre
Bridge
Art Appreciation
Concerts|**Opening**
**balance**
**Receipts**
**Payments**
**Closing**
**balance**
1,553
5,722
(5,018)
2,257
1,017
4,613
(3,971)
1,659
219
10,846
(10,775)
290
1,001
1,544
(2,004)
541
220
-
-
220
5
1,968
(1,968)
5
4,015
24,693
(23,736)
4,972
**Opening**
**balance**
**Receipts**
**Payments**
**Closing**
**balance**
2,791
4,821
(6,059)
1,553
701
2,500
(2,184)
1,017
178
3,449
(3,408)
219
1,443
1,470
(1,912)
1,001
220
-
-
220
5
1,644
(1,644)
5
5,338
13,884
(15,207)
4,015| |---|---| ## **7 Fixed Assets** Fixed assets represent individual purchased items with a cost over £100. Estimated written down value is based on a depreciation rate of 25% p.a. applied to historic cost. |**2024**
Cost
Depreciation
Written down value
**2023**
Cost
Depreciation
Written down value|Computer
Equipment
Software
Microphones
Total
2,218
714
227
3,158
(2,218)
(714)
(227)
(3,158)
-
-
-
-
2,218
714
227
3,159
(2,216)
(714)
(227)
(3,157)
2
-
-
2| |---|---| Page 12