Preston Park U3A, Chair’s Report 2023
Good afternoon, Members
At the last two AGMs I spoke of the COVID pandemic and its effect on us all. I trust this best forgotten period in our lives is well and truly behind us now.
This report is my review of this year. I am very pleased to report with optimism about the progress our u3a has made in the last 12 months
We now have more members than ever before and more interest groups as well. Our finances are in a strong position and we have adequate reserves to weather any unexpected storm.
I have also had the support of a strong committee this year and most of its members are standing for re-election. I should like to thank the committee for all its help and work this year.
Your committee is not however complacent and is constantly looking to offer you, our members, more as well as maintain and improve what we already do.
We held again a promotional exhibition in Preston Park in September during u3a week to let the locals know of our existence and what do. We have attracted a good number of new members as a result.
We are investigating, with St John’s Church, a major improvement to the audio visual systems at Knoyle Hall to bring them into the 21[st] century.
We are constantly receiving suggestions for new interest groups and endeavouring to get new ones started. We have a strong Interest Groups Team whose aim is just this as well as maintaining existing Interest Groups and starting duplicate groups where existing ones are full.
None of this is of course possible without our Group Leaders who are the people who make our u3a work. A big thank you to all our group leaders.
On a personal note, I am somewhat frustrated that we have, like most u3as, a significant churn rate – that is new members who don’t renew because they can’t get into the groups they would like to join and give up on us.
I should also like to thank Roger Luther for producing the monthly update email for several years. It has been a massive help in keeping us all up to date with news.
I am sure you will agree we will approach our seventeenth year with confidence because I strongly believe our u3a has something valuable to offer.
Thank you all for your support.
John Colman, Chair 2021, 2022 & 2023, Thursday 7[th] December 2023
Preston Park u3a Report & Accounts For the Financial Year ending 31[st] October 2023
The finances of Preston Park U3A are split into two parts; the income and expenditure of the various ‘interest groups’ that are largely ‘self funded’; and the services provided to the general membership, including the monthly meetings, that are funded by the annual membership subscriptions.
At the end of the financial year, we have reported a surplus (income minus expense) of £4,389. Most of this surplus (£3,917) is attributable to the Interest Groups and this sum will be used by those groups in the coming year.
The balance of the surplus (£472) will be added to the general reserve which currently stands at £8,013.
Our membership has grown this year to over 450 members and this has generated subscription fee income of £6.517 (10% more than the previous year).
However most of our reported income, 82%, came from Interest Group subscriptions and Heritage Visit fees.
Similarly, most of our expenditure is attributable to the interest groups in respect of hall hire, external visit costs and the cost of tutors.
We also paid a net sum of £3034 to the Third Age Trust for the provision of central services covering publications, insurance and IT services.
The consolidated Accounts are detailed on the page below.
Preston Park U3A Financial Accounts Year Ending 31[st] October 2022
| Income | 2023 | 2023 | 2022 | 2022 |
|---|---|---|---|---|
| Membership Fees | £6,517 | £5,941 | ||
| Interest Group Subscription | £26,808 | £20,493 | ||
| Interest Group Visit fees | £7,840 | £10,582 | ||
| Meeting Fees | £762 | £834 | ||
| Other Income | £100 | £391 | ||
| Totals | £42,027 | £38,241 | ||
| Expenditure | ||||
| Hall hire | £9,633 | £7,122 | ||
| Speakers Fees | £392 | £652 | ||
| Refreshments | £119 | £178 | ||
| Postage and Printing | £1,045 | £691 | ||
| Subscriptions | £3,034 | £2,716 | ||
| Equipment | £402 | £995 | ||
| Summer Party and Picnic | £590 | £0 | ||
| Interest Group visits | £7,146 | £10,803 | ||
| Tutors | £14,400 | £11,805 | ||
| AGM Expenses | £99 | £535 | ||
| Sundry Expenses/Donations | £778 | £2,040 | ||
| Totals | £37,638 | £37,537 | ||
| Surplus | £4,389 | £704 | ||
| Balance Sheet | 2023 | 2022 | ||
| Funds brought forward | £11,170 | £10,466 | ||
| Surplus for year | £4,389 | £704 | ||
| Total carried forward | £15,559 | £11,170 | ||
| Represented by | ||||
| Cash at Bank | £15,559 | £12,487 | ||
| Less Creditors | -£1,317 | |||
| Total carried forward | £15,559 | £11,170 |
John Curwen Treasurer
3[rd] November 2023
Preston Park U3A Independent Examiner's Report to the Council of Management for the year ended 31 Ortober 2023 I report to the trustees on my examination of the accounts of the above charity Icharity Number 11625941 for the year ended 31ryL October 2023. ResponsibTrlitiès and basis of rèport The charity's trustees are responsible for the preparation of the account5 in accordance with the reqU1MentS of the Charities Art 20111"the Act"). The trustees consider that ari audil is noi required for this year and that an independent examination is needed. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act ana in earrying out my examination. I have followed all the applicable Directions giverh by the Charity Commission under 5ertion 14515llbl of the Act. Independent examiner's ststement I have complèted my examination. I confirm that no material matters have come to my attentlon in connection with the examination which gives me cause to believè that irn, afty material respect.. l. the accounting records were not kept in accordance wtrh settion 130 of the Charities Act,. or 2. the accounts did not accord with the accounting records,. or 3. the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than anv requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I he no concerns and have come across no other Matte in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the ccount5 to be reached. Signed................. Date.. 16* November 2023 Name: Jenny Edgell