REGISTERED CHARITY NUMBER: 1159698
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
HALE AND DISTRICT U3A
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
HALE AND DISTRICT U3A
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
HALE AND DISTRICT U3A
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The charity is also known by the more recognised name of Hale U3A.
OBJECTIVES AND ACTIVITIES
Charitable purpose
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 in Hale and its surrounding locality.
Significant activities
The main focus of activities was as previously, special interest groups.
Groups have mainly been able to meet in person as they did prior to covid but we have maintained our Zoom account as this proved useful for certain groups to share information eg photography, or when a member was unable to attend because of incapacity.
The groups continued to cover a wide range of interests and activities featuring photography, art, creative writing, foreign languages, music, current affairs, ancestry and a number of other pursuits. Educational development was maintained accordingly.
Public benefit
The trustees have had regard to the guidance issued by the Charity Commission on public benefit and have done so in the continued operation of activities.
Page 1
HALE AND DISTRICT U3A
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
In my first year as Chair I am pleased to report a continuing increase in our membership.
At the time of writing, 1st April, we have 863 members. We expect a boost to numbers from our Open Day which is planned for 10th May, although this will be offset by members lapsing at our year-end.
We have made a concerted effort to welcome and integrate new members and it will be interesting to see whether that is reflected in members retaining their membership.
We held a new member's coffee morning and brought a New Members Liaison Officer onto our Committee, specifically to welcome and integrate new members.
We have also introduced a Buddy Driver scheme to pair volunteer drivers with members without transport.
Monthly meeting numbers generally are up on the previous year. We started to track numbers in July 2022. From July 2022 - March 2023 873 members attended monthly meetings, an average of 97, compared with July 2023-March 2024 1069 members, an average of 119.
This year's figures were boosted by a hugely successful Xmas Gala where our own members entertained a maximum capacity audience.
Our monthly outings continue to be extremely popular. Seven took place between May 23 and February 24, with approximately 45 members on each one.
Seven holidays have been arranged between May 2023 and July 24 with an average of 37 Members on each one.
Ten social events took place attended by 450 Members.
All of these activities depend on the skill and commitment of our volunteers to whom we are hugely indebted.
Our Interest Groups remain the core of our activities run by our inspirational Group Leaders, there are currently 82 active groups.
During the year we organised a Group Leaders' event to identify opportunities for improvement. This year we have built on our networking through the local authority network.
In particular, we are building relationships with local social prescribers, as we believe we can offer solutions for their clients.
Our monthly newsletter has been greatly improved and we are currently launching a revamped website.
On behalf of all our members, thanks to our three retiring trustees for their hard work and service and particularly to my predecessor Hazel, for meeting the challenges of Covid and ensuring our charity remained strong and healthy throughout.
In conclusion thanks go to our hard-working committee for an exciting year and we look forward to building momentum in the coming year.
Page 2
HALE AND DISTRICT U3A
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Financial position
During the independent examination of the financial statements it came to light that income in previous years has incorrectly been identified as restricted income which therefore generated restricted funds balances.
The trustees confirmed that the amount included as restricted funds at the start of the current year should be transferred to unrestricted designated funds to ensure all funds are included correctly as unrestricted.
The retained surplus on the designated funds at the end of the year were - Groups - £954 Social - £3,165
Total unrestricted funds show a surplus amount of £17,158 at the balance sheet date.
Reserves policy
The trustees aim to maintain reserves at around 6 months of annual expenditure in order to provide for unforeseen or unexpected costs.
The retained surplus on unrestricted funds at the end of the year was £17,158 which equates to 4 months annual expenditure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charitable purpose
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 in Hale and its surrounding locality.
Recruitment and appointment of new trustees
The recruitment and appointment of new trustees is by election of members/co-opting onto executive committee.
Decision making and organisational structure
Decision making on routine matters is undertaken by the executive committee. More substantial matters are discussed by the executive committee (the trustees) and offered for agreement to a general meeting of members..
The executive committee is usually elected at the AGM and positions are open to all members and subject to restrictions as stated in clause 7 of the charity's constitution.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1159698
Principal address
61 Woburn Drive Hale Cheshire WA15 8ND
Page 3
HALE AND DISTRICT U3A
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Trustees
H J Dowell : Chair (resigned 7.6.23) M P Budden (resigned 30.9.23) P J Smith (resigned 31.8.23) E Keddie : Treasurer H Wolfson N Collins D V Murray : Secretary J Thorley P Luton : Vice Chairman D Zucker : Chair (appointed 7.6.23) T Hodkinson (appointed 1.9.23)
Independent Examiner
A J Syddall M.A., A.C.A. P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 18 April 2024 and signed on its behalf by:
E Keddie - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HALE AND DISTRICT U3A
Independent examiner's report to the trustees of Hale and District U3A
I report to the charity trustees on my examination of the accounts of Hale and District U3A (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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.
A J Syddall M.A., A.C.A. The Institute of Chartered Accountants in England and Wales
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
18 April 2024
Page 5
HALE AND DISTRICT U3A
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Subscriptions and charitable activities 50,345 - EXPENDITURE ON Charitable activities Depreciation 231 - General 51,212 - Total 51,443 - NET INCOME/(EXPENDITURE) (1,098) - Transfers between funds 5 4,503 (4,503) Net movement in funds 3,405 (4,503) RECONCILIATION OF FUNDS Total funds brought forward 13,753 4,503 TOTAL FUNDS CARRIED FORWARD 17,158 - |
2024 Total funds £ 50,345 231 51,212 51,443 (1,098) - (1,098) 18,256 17,158 |
2023 Total funds £ 42,549 |
|---|---|---|
| 158 39,446 |
||
| 39,604 | ||
| 2,945 - |
||
| 2,945 15,311 |
||
| 18,256 |
The notes form part of these financial statements
Page 6
HALE AND DISTRICT U3A
BALANCE SHEET 31 MARCH 2024
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 3 579 - CURRENT ASSETS Cash at bank 22,321 - CREDITORS Amounts falling due within one year 4 (5,742) - NET CURRENT ASSETS 16,579 - TOTAL ASSETS LESS CURRENT LIABILITIES 17,158 - NET ASSETS 17,158 - FUNDS 5 Unrestricted funds Restricted funds TOTAL FUNDS |
2024 Total funds £ 579 22,321 (5,742) 16,579 17,158 17,158 17,158 - 17,158 |
2023 Total funds £ 409 23,420 (5,573) 17,847 18,256 18,256 13,753 4,503 18,256 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18 April 2024 and were signed on its behalf by:
E Keddie - Trustee
The notes form part of these financial statements
Page 7
HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures fittings and equipment
- at varying rates on cost
TAXATION
The charity is exempt from tax on its charitable activities.
FUND ACCOUNTING
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 8
HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
2. TRUSTEES' REMUNERATION AND BENEFITS - continued
TRUSTEES' EXPENSES
The trustees receive expenses for the reimbursement of costs incurred on the scheme's behalf.
3. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Subscriptions received in advance Accruals |
Fixtures fittings and equipment £ 4,087 402 4,489 3,678 232 3,910 579 409 2024 2023 £ £ 5,742 5,112 - 461 5,742 5,573 |
|---|---|
continued...
Page 9
HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.23 | in funds | funds | 31.3.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 13,753 | (714) | - | 13,039 |
| Designated - groups | - | 334 | 620 | 954 |
| Designated - social | - | (718) | 3,883 | 3,165 |
| 13,753 | (1,098) | 4,503 | 17,158 | |
| Restricted funds | ||||
| Restricted - groups | 620 | - | (620) | - |
| Restricted - social | 3,883 | - | (3,883) | - |
| 4,503 | - | (4,503) | - | |
| TOTAL FUNDS | 18,256 | (1,098) | - | 17,158 |
| Net movement in funds, included in the above | are as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 14,714 | (15,428) | (714) | |
| Designated - groups | 6,515 | (6,181) | 334 | |
| Designated - social | 29,116 | (29,834) | (718) | |
| 50,345 | (51,443) | (1,098) | ||
| TOTAL FUNDS | 50,345 | (51,443) | (1,098) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1.4.22 | in funds | 31.3.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,057 | 2,696 | 13,753 | |
| Restricted funds | ||||
| Restricted - groups | 1,072 | (452) | 620 | |
| Restricted - social | 3,182 | 701 | 3,883 | |
| 4,254 | 249 | 4,503 | ||
| TOTAL FUNDS | 15,311 | 2,945 | 18,256 |
continued...
Page 10
HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 12,978 | (10,282) | 2,696 |
| Restricted funds | |||
| Restricted - groups | 7,203 | (7,655) | (452) |
| Restricted - social | 22,368 | (21,667) | 701 |
| 29,571 | (29,322) | 249 | |
| TOTAL FUNDS | 42,549 | (39,604) | 2,945 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | Transfers | |||
|---|---|---|---|---|
| movement | between | At | ||
| At 1.4.22 | in funds | funds | 31.3.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 11,057 | 1,982 | - | 13,039 |
| Designated - groups | - | 334 | 620 | 954 |
| Designated - social | - | (718) | 3,883 | 3,165 |
| 11,057 | 1,598 | 4,503 | 17,158 | |
| Restricted funds | ||||
| Restricted - groups | 1,072 | (452) | (620) | - |
| Restricted - social | 3,182 | 701 | (3,883) | - |
| 4,254 | 249 | (4,503) | - | |
| TOTAL FUNDS | 15,311 | 1,847 | - | 17,158 |
continued...
Page 11
HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 27,692 | (25,710) | 1,982 |
| Designated - groups | 6,515 | (6,181) | 334 |
| Designated - social | 29,116 | (29,834) | (718) |
| 63,323 | (61,725) | 1,598 | |
| Restricted funds | |||
| Restricted - groups | 7,203 | (7,655) | (452) |
| Restricted - social | 22,368 | (21,667) | 701 |
| 29,571 | (29,322) | 249 | |
| TOTAL FUNDS | 92,894 | (91,047) | 1,847 |
TRANSFERS BETWEEN FUNDS
During the independent examination of the financial statements for the year ended 31 March 2024 it came to light that income in previous years has incorrectly been identified as restricted income which therefore generated restricted funds balances.
The trustees confirmed that the amount included as restricted funds at the start of the current year should be transferred to unrestricted designated funds to ensure all funds are included correctly as unrestricted.
6. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
7. INTEREST GROUPS
At 31 March 2024 there were 82 interest groups within Hale & District U3A.
The groups are largely self-financing and self-supporting. Group organisers are asked to make a quarterly return to the treasurer, detailing their receipts and payments. Nil returns are also recorded. If financial problems should arise within a group at any time, these would be reported to and discussed by the committee.
A limit of £100 cash was agreed by the committee as being the maximum sum a group organiser should hold at any one time. Any amount in excess of this is passed to the treasurer for banking. In some cases, all monies collected by group organisers are banked and the relevant venue paid directly by the committee.
continued...
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HALE AND DISTRICT U3A
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
8. SOCIAL ACCOUNT
The days out and theatre groups are not included in the interest groups; their activities are open to all members and their financing is handled within the remit of the social account. This is also used to collect and pay for general social activities which are organized by the U3A for its members and have an underlying educational element.
Page 13
HALE AND DISTRICT U3A
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Subscriptions and charitable activities | ||
| Gift aid | 1,301 | 2,574 |
| Subscriptions | 10,627 | 9,221 |
| General meeting income | 1,207 | 1,009 |
| Income from group activities | 6,515 | 7,202 |
| Income from social activities | 29,116 | 22,368 |
| Sundry income | 1,579 | 175 |
| 50,345 | 42,549 | |
| Total incoming resources | 50,345 | 42,549 |
| EXPENDITURE | ||
| Charitable activities | ||
| Postage and stationery | 969 | 598 |
| IT costs | 834 | 779 |
| Other expenses | 1,730 | 592 |
| Third age trust | 6,521 | 5,548 |
| Venue hire | 2,623 | 1,535 |
| Expenditure on group activities | 6,181 | 7,655 |
| Expenditure on social activities | 29,834 | 21,667 |
| Speaker's fees | 1,200 | 820 |
| Refreshments | 1,320 | 252 |
| Depreciation on fixtures fittings and equipment | 231 | 158 |
| 51,443 | 39,604 | |
| Total resources expended | 51,443 | 39,604 |
| Net (expenditure)/income | (1,098) | 2,945 |
This page does not form part of the statutory financial statements
Page 14
Hale and District U3A 61 Woburn Drive Hale Cheshire WA15 8ND
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton BL1 3AJ
Dear Sirs,
HALE AND DISTRICT U3A
We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and staff of the charity, the following representations given to you in connection with your review of the charity’s accounts for the year ended 31 March 2024
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We acknowledge as trustees our responsibility for the accounts, which you have prepared for the charity. All the accounting records have been made available to you for the purpose of your review and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
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We confirm that there have been no changes in the accounting policies other than those disclosed in the accounts.
In our opinion, the accounting policies are appropriate to the charity and conform with generally accepted accounting principles. We confirm that all transactions and balances have been accounted for in accordance with these accounting policies.
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We confirm that all assets have been included in the balance sheet.
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We confirm that all assets included in the balance sheet exist.
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We confirm that the charity owns all the assets included in the balance sheet, unless otherwise stated in the accounts.
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We confirm that the cost (or value) of all the assets in the balance sheet are fairly stated.
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We confirm that depreciation has been provided on all fixed assets with a limited economic life in accordance with the stated accounting policy. In our opinion, the rates of depreciation are reasonable.
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We confirm that all liabilities have been fully recorded in the balance sheet.
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We confirm that all liabilities recorded in the balance sheet are properly those of the charity.
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We confirm that all liabilities have been recorded at a fair value.
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We confirm that there has been no netting off of assets and liabilities.
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We confirm that all income has been fully recorded and correctly classified.
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We confirm the specific representations made to you during the course of the review relating to restricted funds -
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We confirm that the treatment of income that was included as restricted funds in previous years was incorrect and as such a transfer of the balance that remained on those funds at the start of the current year has been made to unrestricted designated funds.
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The charity has not at any time during the year had any transactions with trustees and connected parties.
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The charity has no contingent liabilities.
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There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the accounts.
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The charity has not entered into any charitable commitments.
Yours sincerely
Signed on behalf of the board Eileen Keddie Trustee
Date : 18 April 2024