## **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.
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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: -
- Lecture Meeting Expenses increased to £1,403 (2022: £1,295) due to increased monthly meetings charges for speakers and hall hire fees.
- Postage, Stationery and Printing Costs have substantially fallen by £565 (2022: £2,498) to £1,933 due to the increased number of members choosing to receive monthly newsletters electronically.
- Miscellaneous Expenses have fallen by £139 (2022: £288) to £149 because of the purchase of publicity materials in 2022.
- U3A Trust Membership fees increased to £3,095 (2022: £2,727). This is based upon the number of members at 31 March 2022 and includes a 14% increase in the charge levied by the Third Age Trust when compared with last year.
- Third Age Matters Magazine costs fell to £1,071 (2022: £1,537) because fewer members elected to receive the magazine.
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: -
- Number 1 Account records all transactions relating to our main activities shown in the Receipts and Payments Account mentioned above.
- The Deposit Account is a contingency fund account which allows for immediate access and earns interest until funds are withdrawn.
- Number 2 Account is a ring-fenced fund of income and expenses arising from members activity groups as explained above.
- Number 3 Account is used exclusively for receipts and outgoings of coach outings and other events.
- The Subscriptions Account is used to control the receipt of membership fees. After ensuring all individual member details are correct receipts are recorded on our membership database and transferred to the No 1 Account.
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)**|
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## **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:
- accounting records were not kept in accordance with section 130 of the Act or
- the accounts do not accord with the accounting records
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