## **Chess Valley University of the Third Age** ## **Report of the Trustees for the year ended 31[st] March 2023** The Trustees present their report along with the financial statements of the charity for the year ended 31[st] March 2023. The financial statements comply with the charity’s Constitution. Chess Valley University of the Third Age (CVu3a) is a charity registered with the Charity Commission under registration number 1126990. ## **Objects** The object of CVu3a is: _The advancement of education and, in particular, the education of older people and those who are retired from full-time work, by all means including associated activities conducive to learning and personal development._ This object was adopted by CVu3a at its Annual General Meeting on 14[th] June 2018. Its wording follows the recommendations of the Third Age Trust, the national body for the u3a movement, and complies with discussions held between the Trust and the Charity Commission. ## **Activities** CVu3a advances its objects by: - Holding monthly General Meetings where members hear speakers on a variety of topics (for example, on history, geography and science) - Operating a number of activity groups focused on specific topics (for example, art, gardening, history) - Organising educational visits to places of interest to the membership (for example to historic houses, museums and gardens). ## **Achievements and Performance** Between late March 2020 and the end of 2021, the activities of CVu3a were severely constrained by the need to comply with the regulations and advice issued by the UK government in its response to the COVID-19 pandemic. Face-to-face meetings ceased for much of 2020 and 2021 and many activity groups kept in contact and in operation using various forms of social media and video-conferencing. General Meetings also continued using video-conferencing. With the gradual relaxation of restrictions towards the end of 2021, many activity groups resumed face-to-face meetings and by the end of 22, most were back to normal operation. CVu3a has lost a number of activity groups during 2022/23, due largely to their Convenors (group leaders) standing down and no-one stepping forward to replace them. This unwillingness may reflect an increasing age profile among our membership. The programme of educational visits was similarly been paused during the pandemic but we are pleased to report that normality has returned and several well-supported visits have been organised. ## **Financial Review** The current financial position of CVu3a is presented in the attached accounts. Overall, the organisation generated a small deficit in 2022/23, although this had been expected and budgeted for. It is evident that the cost of hiring venues has increased and will probably increase further, as the higher energy costs filter through. © Chess Valley u3a, 2023 CVu3a Trustee Report 2023 V0-1.docx Page 1 of 3 Having given members a 50% discount on their subscriptions in 2021 (to reflect the restriction in our activities), the subscription was restored to £26 per annum with effect from 1[st] April 2022. Although CVu3a continues to have adequate reserves (see below), the increasing costs already referred to, coupled with a decline in membership numbers (discussed later) led the Committee to agree a modest subscription increase to £27 per annum from 1[st] April 2023. As was mentioned in previous Trustee Reports, many items of equipment owned by CVu3a – computers and data projectors for example – are at or past the end of their useful lives and some of the reserves may have to be devoted to their replacement. A start was made on this during 2022 by the purchase of a new data projector and disposal of an obsolete one. ## **Reserves Policy** Following the advice of the Third Age Trust, the Trustees consider that a reserve of about six months’ operating expenses is sufficient to deal with unforeseen problems and/or to ensure an orderly dissolution of CVu3a if that were to prove necessary. Currently, reserves exceed this figure because of the reduced expenditures experienced during the COVID-19 restrictions. These reserves reduced slightly during 2022/23 and are expected to reduce further during 2023/24 due to the increasing costs of operation and the decline in membership. ## **Membership** Total membership of CVu3a at the end of the year 2022/23 was 591, including two honorary members. This compares with 618 members in 2021/22and 750 members before the COVID-19 pandemic. This large drop in membership has been experienced by other u3as and by the u3a movement at a national level and there are some signs of a gradual pick-up in numbers now that we have returned to normal activities. ## **Plans for the Future** A major aim for CVu3a in the coming year will be to increase our membership. In the absence of effective recruitment campaigns by the national body, the Third Age Trust, this will have to be done through more local recruitment initiatives, perhaps in collaboration with other neighbouring u3as. ## **Structure, Governance and Management** Our Constitution, the governing document for our charity, was adopted in its present form by the membership at the AGM held on 14[th] June 2018. The Trustees are appointed at an Annual General Meeting (AGM) for a fixed term of two years and may be reappointed for further terms at the discretion of the members. We are affiliated to the u3a National Organisation, the Third Age Trust, and to the u3a Thames Valley and Hertfordshire Networks. All Trustees are volunteers and receive no remuneration or other benefits in return for their services. CVu3a is managed for its members by a Committee consisting of the following Trustee positions: |**Chair**|James Cadle| |---|---| |**Vice-Chair**|Helen Barnard| |**Business Secretaries**|Colin O’Rourke and West Marshall| |**Treasurer**|Geoff Naylor| |**Membership Secretary**|Jim Wilkie| |**Groups Coordinator**|Helen Barnard| |**Events Coordinator**|Jackie Cobb| |**Webmaster and System Administrator**|Valerie Garrood| |**Newsletter Editors**|John Bunyan and James Cadle| In addition, the following non-Trustee assists in the management of CVu3a: ## **Speaker Organiser** Michael Cohn Colin O’Rourke has announced his intention to stand down as Business Secretary at the 2023 AGM. West Marshall has offered to fill this position and he was co-opted as a Trustee on 10[th] February 2023. West will offer himself for election at the 2023 AGM. In addition, Peter Windsor has been nominated to become an additional Trustee and his nomination will be placed before the membership at the 2023 AGM. © Chess Valley u3a, 2023 CVu3a Trustee Report 2023 V0-1.docx Page 2 of 3 The accounts of CVu3a are reviewed by an independent Examiner. For 2022/2023, the Examiner has been Ernest Newhouse, a member of Chiltern u3a and a former Financial Controller of BBC’s World Service and Director of Finance at the Barbican Centre. The activity groups (53 as at 31[st] March 2023) each have one or more Convenors who organise their programmes, book venues, arrange speakers and so forth. They receive support from the Groups Coordinator and from the Committee in general. ## **Approvals** The report was approved by the Trustees and signed on their behalf: **Name:** James Cadle **Position:** Chair **Signed: Date:** ??? © Chess Valley u3a, 2023 CVu3a Trustee Report 2023 V0-1.docx Page 3 of 3 CHESS VALLEY UNIVERsrrY OF THE THIRD AGE Regirtered Charity Number= 1126990 INCOME AND EXPENDrniREACCOUNTforthe yeaT ènded 31 MARCH 2023 2023 2022 INCOME Subscriptions Donations Gift Aid Group Income Interest Quiz Third Age newsletter 57.028 15.996 431 1.731 38.460 138 34,351 8,591 3,670 21,571 200 319 271 EXPENDrruRE Bank charges and Paypal Equipment Group expenses Guest speakers fees and expenses Hire of Halls and associated Expen Newsletter printing and postaÈe Postage, Stationery and Zoom Quiz expenses Simple Membership Third Age newsletter U3A mefflbers fees to Third oge Trust Website 59.295 95 765 38.667 1,078 12.238 2.189 32.253 12 16.457 1.013 8,202 2,136 1.166 210 650 133 2,230 43 332 2.472 Surplus for year BALANCE SHE￿ at 31 MARCH 2023 2023 2022 ASSETS Cash at bank 49.649 48.673 LIABIL￿lEs Subscriptions in advance NET ASSErs 14,845 11.602 37,071 RESERVES Operation5 Group5 Reserves Prior Year 26,323 10,748 37.071 29.339 5,634 34,973 Operations Groups Current Yèar Surplus l-Deficitl -1.432 -836 -2.268 -3,016 5,114 2.098 Operations Groups TOTAL RESERVES 24.891 9.912 26,323 10,748 37,071 Date 2414I2DI3 T reasurer= G G NaOor I have examined the above Income & Expenditure Account and Ba￿nce Sheetwhich have been prepared on a receipts and payments ba515. These accord with the k￿kS and records ofthe cl￿ Valley UnNersrty of theThird $￿e. Date External E¥amlner. E G Newhouse CHESS VALLEY UNIVERStTY OF THE THIRD AGE Registered Charity Number: 1126990 202a 2022 Note I CASH 49,649 42.638 6.016 994 48,673 40.000 7.471 1.202 Savings account Current account London Walks Note 2 MONEY HELD FOR GROUPS Eclertic Music- tfr to reserves Events 9.912 10.748 398 1,240 iio 685 Family History Gardening History History trip5 Jazz- tfr to reserves London Walks Pilates Tai Chi Theatre 212 379 156 244 79 78 78 231 994 1.202 4,342 86 4.577 1,719 503 2.965 244 Walkers 213 Wildlife 69 69 CHESS VALLEY UNIVERsrrY OF THE THIRD AGE Regirtered Charity Number= 1126990 INCOME AND EXPENDrniREACCOUNTforthe yeaT ènded 31 MARCH 2023 2023 2022 INCOME Subscriptions Donations Gift Aid Group Income Interest Quiz Third Age newsletter 57.028 15.996 431 1.731 38.460 138 34,351 8,591 3,670 21,571 200 319 271 EXPENDrruRE Bank charges and Paypal Equipment Group expenses Guest speakers fees and expenses Hire of Halls and associated Expen Newsletter printing and postaÈe Postage, Stationery and Zoom Quiz expenses Simple Membership Third Age newsletter U3A mefflbers fees to Third oge Trust Website 59.295 95 765 38.667 1,078 12.238 2.189 32.253 12 16.457 1.013 8,202 2,136 1.166 210 650 133 2,230 43 332 2.472 Surplus for year BALANCE SHE￿ at 31 MARCH 2023 2023 2022 ASSETS Cash at bank 49.649 48.673 LIABIL￿lEs Subscriptions in advance NET ASSErs 14,845 11.602 37,071 RESERVES Operation5 Group5 Reserves Prior Year 26,323 10,748 37.071 29.339 5,634 34,973 Operations Groups Current Yèar Surplus l-Deficitl -1.432 -836 -2.268 -3,016 5,114 2.098 Operations Groups TOTAL RESERVES 24.891 9.912 26,323 10,748 37,071 Date 2414I2DI3 T reasurer= G G NaOor I have examined the above Income & Expenditure Account and Ba￿nce Sheetwhich have been prepared on a receipts and payments ba515. These accord with the k￿kS and records ofthe cl￿ Valley UnNersrty of theThird $￿e. Date External E¥amlner. E G Newhouse CHESS VALLEY UNIVERStTY OF THE THIRD AGE Registered Charity Number: 1126990 202a 2022 Note I CASH 49,649 42.638 6.016 994 48,673 40.000 7.471 1.202 Savings account Current account London Walks Note 2 MONEY HELD FOR GROUPS Eclertic Music- tfr to reserves Events 9.912 10.748 398 1,240 iio 685 Family History Gardening History History trip5 Jazz- tfr to reserves London Walks Pilates Tai Chi Theatre 212 379 156 244 79 78 78 231 994 1.202 4,342 86 4.577 1,719 503 2.965 244 Walkers 213 Wildlife 69 69