OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-30-accounts

Stanway

Registered Charity No. 1171008

Annual Reports & Financial Statements 2022-2023

1

CONTENTS

PAGE TRUSTEES REPORT FOR MEMBERSHIP YEAR 2022-23 3 TREASURERS REPORT FOR YEAR ENDED 30 APRIL 2023 5 FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2023 7

2

ON BEHALF OF THE TRUSTEES OF STANWAY u3a

In many respects the year ended 30[th] April 2023 proved challenging for your Executive Committee.

At our AGM in 2022 we were delighted to finally welcome Angela Dennis as a Trustee of Stanway u3a. A valued and popular Group Leader and active member of the Social Squad, Angela successfully took on the role of Volunteers Co-Ordinator. We were shocked and saddened to learn of her sudden, unexpected death. I suffered reduced mobility pending much delayed surgery and our Business Secretary, an unforeseen family bereavement. We coped, thankful that we had a strong and well-balanced, albeit undermanned team, and were buoyed by the amazing support of you, the members of Stanway u3a.

The Executive Committee meet each month via Zoom. This works so well and is far more convenient with no time wasted on travelling to and from a venue, time we can now use to ensure we fully cover everything needed to make certain that we can keep Stanway u3a on an even keel.

We have not been shielded from the rising cost of living. Venue hire and speaker charges alone rose by between 15 and 20%. Despite the rising costs of running our u3a, our Treasurer keeps firm control of the accounts and continues to actively seek prudent policies that keep our finances strong. This has meant that our basic email membership fee has remained at £ 9.00 per year.

----- Start of picture text -----
Stanway u3a Membership
1000
900
800
700
600
500
400
300
200
100
0
2019 2020 2021 2022 2023
Stanway u3a Membership
----- End of picture text -----

Throughout the year our membership grew at a steady rate to 810. That is not quite the pre-Covid figure but considering our nations fortunes over the past three years, it is definitely moving in the right direction.

Our interest group offering continues to evolve and remains healthy. Sadly, some well-established groups have closed, often not through declining interest, but because a longstanding Group Leader has decided to stand down and no group members have been willing take on the Co-ordinator role. Thankfully, new groups come online and where required, and at the discretion of the committee, we continue to support these new activities to get them started.

Our Sports and Exercise Group Sector continues to be particularly strong with additional weekly sessions arranged for both Pickleball and Exercise for Seniors, reflecting demand.

Our Pétanque group has been able to relocate to a purpose-built court at the new Lakelands Centre in Stanway, and now holds 2 sessions weekly during the season. This is thanks to the splendid efforts of Group Leader Alec Anderson and Vice Chair David Mills who proposed the project to Stanway Parish Council and worked closely with SPC and Colchester City Council to bring it to fruition.

Our Indoor Games and Crafts Sector goes from strength to strength with additional groups established for Rummikub and Scrabble. We are working with potential Co-ordinators and hope to strengthen our Out & About sector with new opportunities to visit places of worship and to re-establish local visits.

3

Our Social Squad work hard to bring us something a little different for our Social Xtra meetings each month. These afternoons feature events to make us laugh and meetings to get us talking. During the year, we celebrated the Platinum Jubilee of Queen Elizabeth II, and then the Coronation of King Charles III. We blushed but joined in, when the WI introduced us to Burlesque, enjoying every moment, sang along with ‘Lost Direction,’ and took to the floor for our Barn Dance.

Our Day Trips are always popular, and this year included a visit to the Weald & Downland Museum, home of the ‘Repair Shop,’ a day celebrating everything 1940’s in Chatham, whilst two coaches of members were eager to make another trip to Thriplow.

Organising our social element relies on the efforts and commitment of just a few members. The Social Squad need more of you to get involved, bring fresh and novel ideas, and help plan future programmes if the Social Xtra initiative is to continue.

As this is my final Annual Report as your Chair I would like to thank my fellow Trustees for their unyielding encouragement, help and support throughout my tenure.

I am confident that Stanway u3a can continue to look toward the future with more diversity, variety and inclusion. We push hard to reach out to all those who are no longer in full time employment. We encourage a younger demographic and recognise the need to keep our membership strong and vibrant. However, we also recognise the important contribution and loyal support that our long-term members still offer.

Heather Wragg

Chair Stanway u3a

4

TREASURER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2023

The accounts which have been prepared on a receipts and payments basis for the year ended 30 April 2023 are included on pages 7-9 of this report.

BALANCE SHEET

The balance sheet records the position on all bank accounts and fixed assets held on 30 April 2023.

Total bank balances available to your committee to support member activities have increased by £1,546 to £26,446 (£24,900).

The Number 2 Bank Account holds £7,659 (2022: £9,157) of ring-fenced funds held on behalf of interest groups which cannot be used by your committee. These comprise amounts collected from members to pay for hall hire and other expenses which can only be paid out under instruction from individual group leaders.

Subscriptions Received in Advance of £6,315 (2022: £7,750) are used to fund our operating costs for the year ended 30 April 2024. The reduction from last year reflects the £4 membership fee reduction for those members who have opted not to receive the Third Age Matters magazine.

There have been no additions or sales of Fixed Assets during the year which stand at £164 (2022: £265) after providing a 25% depreciation charge of £101 (2022: £149) to write off assets over 4 years.

I am pleased to report that there was a Surplus on Core Activities of £3,019 (2022: £1,530 Deficit) with subscription receipts returning to pre pandemic levels.

RECEIPTS AND PAYMENTS ACCOUNT

Membership Subscriptions have risen by £4,735 to £9,725 (2022: £4,990) following the decision to allow members renewing their subscriptions to pay 50% of prior year fee levels in 2022. This was to recognise that loyal members had paid a full year subscription in 2021 but were not able to take part in many activities due the Covid 19 lockdown.

The main changes in overhead payments during the year were as follows: -

5

Gift Aid receipts have fallen by £953 to £1,621 (2022: £2,574) as a result of an additional one-off claim in 2022 following improvements to the accounting records. This boosted our cashflow in 2022 and brought future claim recoveries on to a current year basis.

Gift Aid recoveries for 2023 and subsequent years are now based upon subscriptions received during the year.

CASH FLOW STATEMENT

Control of the overall cash flow is based the use of segregated bank accounts held with the Co-Operative Bank. The cash flow report shows a positive cash flow from all of these accounts after allowing for the £2,000 transfer from No 1 Account to the Deposit Account and are briefly explained as follows: -

Finally, I would like to thank group leaders and fellow members of the Executive Committee for their help and support in maintaining tight financial controls during yet another eventful year.

John Staplehurst

TREASURER

6

BALANCE SHEET AS AT 30 APRIL 2023

CURRENT ASSETS - CORE ACTIVITIES
Number 1 Bank Account
Deposit Bank Account
Subscriptions Bank Account
CURRENT ASSETS - SOCIAL ACTIVITIES
Number 3 Bank Account
CURRENT ASSETS AVAILABLE FOR UTILISATION
CURRENT ASSETS - INTEREST GROUPS
Number 2 Bank Account
TOTAL CO-OPERATIVE BANK BALANCES
TOTAL CURRENT ASSETS
FIXED ASSETS
Book Value as at 1 May 2022
Additions
Loss on Sale
Depreciation
TOTAL FIXED ASSETS
TOTAL ASSETS
CURRENT LIABILITIES
Subscriptions Received in Advance
Funds Received in Advance of Future Events
TOTAL CURRENT LIABILITIES
RESERVES
Balance as at 1 May 2022
Surplus/ (Deficit) for the Year:-
Core Activities
Social Activities
AVAILABLE RESERVES
RING FENCED GROUP BALANCES
TOTAL RESERVES
TOTAL RESERVES AND ACCRUALS		 2023
£
7,497
15,177
18
22,692
3,754
26,446
7,659
34,105
34,105
265
0
0
(101)
164
34,269
6,315
0
6,315
17,280
3,019
(4)
20,295
7,659
27,954
34,269		 2022
£
7,865
13,095
46
21,006
3,894
24,900
9,157
34,057
34,057
215
199
0
(149)
265
34,322
7,750
136
7,886
19,139
(1,530)
(329)
17,280
9,157
26,437
34,322

RECEIPTS AND PAYMENTS - CORE ACTIVITIES YEAR ENDED 30 APRIL 2023

2023 2022 2022
£ £ £ £
RECEIPTS
Membership Subscriptions 9,725 4,990
Deposit Account Interest 82 2
TOTAL RECEIPTS 9,807 4,992
PAYMENTS
Lecture Meeting Expenses 1,403 1,295
Interest Groups Income and Expenses 204 137
Postage, Stationery and Printing Costs 1,933 2,498
IT Expenses 153 166
Miscellaneous Expenses 149 288
Independent Examiner Fee 300 300
U3A Trust Membership Fees 3,095 2,727
Third Age Matters Magazine 1,071 1,537
Fixed Asset Depreciation 101 8,409 149 9,097
OPERATING SURPLUS /(DEFICIT) 1,398 (4,104)
Gift Aid 1,621 2,574
SURPLUS /(DEFICIT) 3,019 (1,530)

8

CASH FLOW YEAR ENDED 30 APRIL 2023

CASH FLOW YEAR ENDED 30 APRIL 2023
CO-OPERATIVE BANK - NUMBER 1 ACCOUNT
IN
OUT
Members Subscriptions and Related Expenses
1,978(6,906)
Lecture Meetings Receipts and Expenses
Members Subscriptions 2023/24
Fixed Asset Purchase
Transfer from Subscriptions Bank Account
Transfer to Deposit Account
Gift Aid Receipts
Balance Brought Forward
BALANCE CARRIED FORWARD
CO-OPERATIVE BANK - DEPOSIT ACCOUNT
Interest Received
Transfer from Number 1 Bank Account
Balance Brought Forward
BALANCE CARRIED FORWARD
CO-OPERATIVE BANK - NUMBER 2 ACCOUNT
Interest Groups (Ring Fenced)
Balance Brought Forward
BALANCE CARRIED FORWARD
CO-OPERATIVE BANK - NUMBER 3 ACCOUNT
Prepaid at 1 May 2022
Social Activities During Year
Prepaid at 30 April 2023
Balance Brought Forward
BALANCE CARRIED FORWARD
CO-OPERATIVE BANK - SUBSCRIPTIONS ACCOUNT
Membership Subscriptions Received
Transfer to Number 1 Bank Account
Balance Brought Forward
BALANCE CARRIED FORWARD		 2023
2022
£
£
SURPLUS/(DEFICIT)
(4,929)
(6,341)
(1,403)
(1,295)
1,221
4,358
0
(199)
5,122
3,412
(2,000)
(10,000)
(1,989)
(10,065)
1,621
2,574
(368)
(7,491)
7,865
15,356
7,497
7,865
82
2
2,000
10,000
13,095
3,093
15,177
13,095
(1,498)
1,861
9,157
7,296
7,659
9,157
(136)
(240)
(4)
(329)
0
136
(140)
(433)
3,894
4,327
3,754
3,894
5,094
3,390
(5,122)
(3,412)
46
68
18
46
(10,065)
2,574
(7,491)
15,356
7,865
2
10,000
3,093
13,095
1,861
7,296
9,157
(240)
(329)
136
(433)
4,327
3,894
3,390
(3,412)
68
46

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of The Stanway University of the Third Age

On accounts for the year 30 April 2023 Charity no 1171008 ended (if any)

Set out on pages 7-9

(remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 / 04 / 2023.

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 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters examiner's statement have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed:

Date: 11.08.23

Name: Simon Welling

Relevant professional FCCA qualification(s) or body (if any):

Address: Town Wall House, Balkerne Hill, Colchester, Essex, CO3 3AD

IER

1

October 2018

10