TREASURER’S REPORT FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
Another good year for Westerham u3a which again leaves us in an excellent financial position.
INCOME
The first income to mention is Lottery Monies. Due to the hard work put in to our presentation for funding by Tony Pearson, we were allocated £2,800 to be used towards the wellbeing of members. This sum has to be used within two years and an itemised list with receipts has to be provided showing how it was used.
Under Grant/Donations we received £522 from Riviera Travel as a result of holidays booked through them by members.
The income from Open Meetings and Coffee Mornings has also increased again this year due to the notable rise in numbers attending our monthly meetings.
There have been a lot more theatre trips and other outings accounting for the large increase in the income of Outings/Visits. Yet again you will also notice that the amount of Bank Interest received was also over 50% more than the previous year. See Balance Sheet & Reserves below. Subscriptions remained relatively the same as the previous year.
EXPENDITURE
Hall Hire does not appear to have increased greatly on last year as a result of using the Lottery Monies for special events such as the Wellbeing Afternoon in March and subsidising the Line Dancing Group. Westerham Hall Management have increased their fees for using the Hall and each interest group using the Hall is expected to decide the amount the members of their group contribute to cover the cost of each use. The amount paid by members for the Monthly Meeting remains at £2.
The only expenditure this year on Equipment was on a new headset microphone for use by our speakers. We are anticipating buying a red laser pointer and a Bluetooth microphone.
The amount paid to Speakers has again increased due to their charges increasing but the committee and especially the Speaker Secretary try to ensure we have excellent speakers. Inevitably this sum will increase in the next financial year.
The amount paid out for Outings/Visits is far more than last year but, as explained above, there have been more outings this year.
SUMMARY
We account on a cash rather than accruals basis with the result that income may be received in one financial year and spent in the next one (ie Outings). This timing difference distorts the income surplus and the levels of reserves.
BALANCE SHEET & RESERVES
Accommodation Account. As mentioned in previous reports, this account is a Deposit Account and the monies collected have been left to accrue interest instead of being transferred to the Current Account to pay the monthly invoices for the Hall’s use although certain uses have been set against the Lottery Monies. Westerham Hall Management have increased their fees for using the Hall and each interest group using the Hall is expected to decide the amount the members of their group contribute to cover the cost of each use.
Outings Account. As mentioned in last year’s report, only a nominal amount is held in this account to ensure, once payments have been made, that the balance does not go to zero. So, although the Outings Account is included in the Balance Sheet, the monies cannot be included in Reserves. This also applies to the balance of the Lottery Grant, which, if unutilised, would have to be returned at the end of the two year project. An adjusted figure for Reserves would be £14,215.
I hope that all members will continue to support Westerham u3a to do so that we all can continue to enjoy its many benefits.
Anita Perrett Treasurer
WESTERHAM U3A - Income & Expenditure Statement for the year ending 31 March 2025
| INCOME Subscriptons Open Meetng/Cofee Morning donatons Grant/Donatons Gif Aid Lotery monies Sundry Income - June Open Day Sundry Income - August 10th Anniversary Tea Sundry Income - Quiz Afernoon Xmas Lunch income Bank Interest Outngs/Visits Hall Hire - Group contributons EXPENDITURE Hall Hire Equipment Speakers Open Meetng/Cofee Morning Expenses Third Age Trust Membership Third Age Trust Magazine Beacon Print/Postage/Statonery Bankline Group & Study Day Expenses Website Travel & U3A Meetngs Expenses against Lotery monies Sundry Expenses Exceptonal Expenses Expenses - June Open Day Expenses - August 10th Anniversary Tea Xmas Lunch Expenses Outngs/Visits Income over Expenditure |
2025 £ 7,429 2,228 522 0 2,800 - - 84 3,468 153 21,113 6,827 44,624 6,466 28 868 557 1,460 650 388 319 301 192 129 0 1,001 56 50 - - 3,338 19,505 35,308 9,316 |
2024 £ 7,245 1,734 317 981 - 355 1,370 - 2,973 71 13,915 4,544 33,503 6,101 40 691 601 1,312 818 351 222 292 70 57 30 - 6 50 154 1,523 2,899 16,013 31,232 2,272 |
2024 £ 7,245 1,734 317 981 - 355 1,370 - 2,973 71 13,915 4,544 33,503 6,101 40 691 601 1,312 818 351 222 292 70 57 30 - 6 50 154 1,523 2,899 16,013 31,232 2,272 |
|---|---|---|---|
| 2,272 | |||
| BALANCE SHEET Current Account Accommodaton Account Outngs Account Reserve Account Pety Cash Current Assets RESERVES Brought forward Surplus/Defcit Carried Forward |
1,280 12,307 2,460 2,281 147 18,475 9,159 9,316 18,475 |
557 5,353 810 2,250 189 9,159 6,887 2,272 9,159 |
This statement of Income and Expenditure has been prepared from the records held and reconciled to the bank accounts. I confirm there are no significant future liabilities over and above those that arise from ongoing activities.
Anita Perrett, Treasurer
I confirm that I have examined the records and that this financial statement is a true and accurate reflection of the financial position as at 31 March 2025
This statement of Income and Expenditure has beÈn prÈpared from thÈ records held and retontiled to the bank accounts. I confirm thÈre are no significant future liabilities over and abovÈ thosÈ that arise from ongoin8 aCtivitiÈs. Anita Perrett. TrÈasurer I Confirm that I have ÈxaminÈd the records and that this financial statement is a true and accurate reflection of thÈ financial position as at 31 March 2025