Arun East U3A Trust Financial statements for the year ended 31 May 2024
General note on activities
The Arun East U3A Trust is a charity in its own right. It is registered with the Charities Commission under number 1152536. It is part of a network of local U3As which are affiliated to the Third Age Trust. Local U3As are autonomous in terms of their constitution and structure but are required to embrace the aims and guiding principles of the national organisation. Its constitution is a model approved by the Third Age Trust.
Arun East U3A Trust exists for the advancement of education and, in particular, the education of older people and those who are retired from full time work and are members of the Trust. Its scope includes associated activities conducive to learning and personal development. Members are drawn from Rustington, Angmering and the surrounding locality. It operates over one hundred different activity groups covering a wide range of interests and groups.
Arun East U3A Trust Financial statements for the year ended 31 May 2024
| Balance Sheet | ||||
|---|---|---|---|---|
| as at 31 May | 2024 | 2023 | ||
| £ | £ | £ | £ | |
| Fixed Assets | ||||
| Computer A/V equipment (note 4) | 523 | 1,105 | ||
| Current Assets | ||||
| Payments in advance (note 5) | 9,090 | 6,765 | ||
| Deposit account | 26,181 | 22,360 | ||
| Subscriptions account | 1,808 | 644 | ||
| Current account | 5,004 | 8,993 | ||
| Total Current Assets | 42,083 | 38,762 | ||
| Current Liabilities | ||||
| Creditors due within one year | -337 | |||
| Group income received in advance | -109 | |||
| Subscriptions received in advance | -13,900 | -13,366 | ||
| Total Liabilities | -13,900 | -13,812 | ||
| Net current assets | 28,183 | 24,950 | ||
| Net total assets | 28,706 | 26,055 | ||
| Trust Funds | ||||
| Accumulated funds | 28,706 | 26,055 | ||
| Approved: | ||||
| Trustee | Trustee |
Date:
Arun East U3A Trust Financial statements
Statement of Financial Activities
for the year ended 31 May
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| Income | ||||
| Subscriptions | 17,128 | 13,790 | ||
| Gift Aid | 1,698 | 1,727 | ||
| Group activities | 44,503 | 46,188 | ||
| Sundry | 129 | 175 | ||
| Bank Interest | 1181 | 365 | ||
| Total income | 64,639 | 62,245 | ||
| Expenditure | ||||
| Hire of premises | 44,075 | 38,356 | ||
| Stationery, postage and telephone | 6,882 | 5,645 | ||
| Website | 164 | - | ||
| Equipment | 179 | 1,426 | ||
| U3A Matters | 2,024 | 1,901 | ||
| TAT membership | 5,013 | 5,773 | ||
| Sundry | 1,102 | 1,012 | ||
| Depreciation | 1,082 | 983 | ||
| Prior year adjustment | 1,467 | - | ||
| Total expenditure | 61,988 | 55,276 | ||
| Surplus for the year | 2,651 | 6,969 | ||
| Surplus brought forward | 26,055 | 19,086 | ||
| Total funds carried forward | 28,706 | 26,055 | ||
| Funds Flow | ||||
| Surplus for the year | 2,651 | 6,969 | ||
| Purchase of fixed assets | -500 | -180 | ||
| Provision for depreciation | 1,082 | 983 | ||
| Change in working capital | -2,238 | -3,792 | ||
| Net movement | 995 | 3,980 | ||
| Bank balances brought forward | 31,997 | 28,017 | ||
| Bank balances carried forward | 32,992 | 31,997 | ||
| Net movement | 995 | 3,980 |
Arun East U3A Trust Financial statements
Notes to the accounts
1. Basis of accounting
These accounts have been prepared on a historical cost basis in accordance with the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (effective January 2019) and the Charities Act 2011.
2. Accounting policies
Income is included in the Statement of Financial Activities when the Trust becomes entitled to the resources.
Liabilities are recorded as soon as there is a legal obligation committing the Trust to and outflow of resources
Tangible fixed assets are depreciation on a straight line basis over the expected useful life of the assets.
3. Funding
There are no assets subject to restricted funding, nor has there been any income or expenditure during the year subject to restriction.
4. Fixed Assets
| 4. Fixed Assets | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Cost brought forward | 4,915 | 5,775 | ||
| Additions in year | 500 | 180 | ||
| Retired in year | -1040 | |||
| Cost carried forward | 5,415 | 4,915 | ||
| Depreciation brought forward | 3,810 | 3,867 | ||
| Retired in year | -1,040 | |||
| Provided in year | 1,082 | 983 | ||
| Accumulated depreciation carried forward | 4,892 | 3,810 | ||
| Net book value at balance sheet date | 523 | 1,105 | ||
| 5. Payments in advance | ||||
| Membership of Third Age Trust | 6,280 | 5,013 | ||
| Third Age Matters | 2,557 | 1,752 | ||
| Sundry | 253 | - | ||
| Total prepayments | 9,090 | 6,765 |
Arun East U3A Trust Financial statements (Subject to approval)
Independent examiner’s report to the committee of Arun East U3A Trust
I report to the committee on my examination of the accounts of the Arun East U3A for the year ended 31[st] May 2024
Responsibilities and basis of report
As the charity’s committee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Frederick Young
Relevant professional qualification or membership of professional bodies: F.C.A (Retired)
Date: