Company registration number- CE015658
Charity registration number- 1180769
Universty of the Third Age in Cambridge (CIO)
Annual Report and Financial Statements
31 December 2025
FAIRWAY
Tox and Aecounllng

Unlverslty of the Third Age in Cambridgo (CIO)
Contents
Reference and Administrative Details
1102
strategic Report
3to6
Trustees. Report
Statement of Trustees. Responsibilities
Independent Examinerf5 Report
Statwnent of Financial Adivities
10
Balance Sheet
11
Notes lo the Financial Statements
12to18

Univorslty of the Third Age in Cambridge (CIO)
Reference and Admlnlstratlve Dgts11s
¢oun¢ll Members ITru$tsesl
Temi ol Offi
Philip Siott, Chair
Michael Gbbs, Vice-chair
K8vin Holmes, Tmasurer
Sally Livesey, Secretary
Untsl March 2025
Tony Poojey. Secretary
From March 2025
Secrnlary from June 2025
John Procter. Direclorof Slud￿$ (Coursesj
Until March 2025
Suzan HoneyfoTd, Dirgclor of Studies (COU￿@$)
Frorn April 2025
Suzan Grfffiths, DKectorof Stud￿8 (Lecturgsl
Nicholas Russell. Direclorof Sluth'es (Le¢tLires)
Pati1￿a Fara
Frun March 2025
Jonathan Gill
Fr￿n March 2025
lan Hunter
Until March 2025
Rachal Mel￿r
Jererny Newton
Sue Rhodes
From Marth 2025
Mark Sanderson
Jane Williams
Fr¢)m MarG* 202S
Principal Office
27-28 Bridge Street
Cambridge
CB2 1UJ
¢omp•ny Registration Nurnber
CE015658
Charfty Regiatration Number
1180769

University of the Third Age in Cambrldge ICIOI
Referencè and Admlnistratlve Details
Banker•
The Cl￿peratIve Bank PLC
1 Balloon Street
Manchester
M4 4BE
C8mbrKlge and Count￿8 Bank Limited
Chamwood Court
5B New Walk
Le[￿Ster
LE18TE
Uoyds Bank plc
25 G￿$harn st￿et
London
EC2V 7HN
The Cambrid9e 8uilding Society
4 St Andrew's Street
Cambridge
C82 3AX
Solicitor8
HCR Hewitson$
5040 Stat￿n Road
Cambridge
CB12JH
Inve$knent Managers
CCLA
One Angel Lane
London
EC4R 3AB
Independent Examlner
Fasrway Tax and A¢¢ounting Limited
11C Alma Road
Snettisharn
"ng's Lynn
PE31 7NY

Unlverslty of the Thlrd Age in Cambridge (CIO)
SlrategiG Report
The Trustees, who are directors for the purposes of company law, present their Strategic Report for
the year ended 31 Oecernber 2025 in compliance w¢th s414C of the Companies Act 2006.
Membership. cours￿ and A¢tlvltlÈs
The upward trend in U3AC'$ membership numbers seen over the previous four years ¢ontinued in
2025. By the end of the year we had 2.665 members. up 4.40A on thg corrasponding point in 2024.
As in previous years. word of mouth was the principal means by which people become aware of
U3AC. However, IhioughoLrt the year we pursued an active and Successful policy of adverb'sing
a(x055 various channels, including soc¢al rnedia. We alsu enjoyed a succgssful Open Day al the
start of July with a total of 259 people attending. Many of the attendees then went on lo become
U3AC members.
One of the key drivers attracting new members and keeping existing members is the ability lo offer
a large number of diverse course5 and acliwlies. The programme for 202>2026 ¢omprised almost
350 courses and activities across 27 drfferent subjects. The success of U3AC and the ability lo
offer such a wide range of high-quality courses are directly attributable lo the contributions of our
tutors and course leaders. who commit so much of their time voluntarily. At the Start of thè 2025-
2026 academlc year there were a total of 322 tulorslcourse leaders. This included 39 tutors new lo
the organisation to whom we offer a wam w8l¢ome. Unfortunately, there were 49 tutors who
decided lo slop running ¢ours8s during 2025. This is a similar number lo prewous years and, as
before, people decided to stop for a variety of lusually personall reasons not related directly to
U3AC. To those lulorslcourse leadèrs who have left. the Council wishes lo express its sincere
thank5 for the wntribution they have mado to U3AC, often over many years. We also wish lo thank
Ih(>se tutorslcourse leaders who are continuing lo share their knowledge and expeTien¢e with the
rest of the rnembership.
In addition to the range of courses on offer, U3AC members ¢onlinu& to be able lo take part in a
variety of leisure and social activthes. Duiing 2025 these included a cyding group, a film group, a
lunch club. an onvironmental group and inveslrnent clubs.
U3AC'5 programTne of weèkly Wgdnesday lectures has been 8 5uwessful feature for many year5
and this continued to be the case in 2025. Over the year a total of 24 lectures took place, using a
hybrid fomial whereby people could attend either in person or via Zoorn. As usual. the range ol
topic5 covered was highly diverse and induded Life al the end of the Earth, The Art of Laundry. Into
the Doughnut and Gliding over the Andes. Typically, each lecture attracted full 8udien¢es attending
in person and Zoom audiences ranging from 65 to 100. The Council is very grateful to each lecturer
for the lime and effort they cornmitted lo facilitate this important aspect of U3AC's activities.
The fortnighdy Norah Boyce Science Lectures continued to be well received during 2025. A total of
12 lecture5 took place. During thè y8ar, Ron Laskey, John Rallison and Lesley Dickinson decided
to step down from organising these lectures. We are grateful for the excellent work they have dtsnè
over the past eight years. In their place we arè pl&ased to welcome John Ctsok and Jack Price.
Together, they have had an immèdiatg and very positive irnpa¢t helping to organise seven lectures
during the Autumn torm.
U3AC's Curtural and Social Acimties Committee continued to organise a wide variety of visits
throughout the year. These included Chariwell, Windsor Caslle, Hatfield House and Bletchley Parf(.

Unlversity of the Third Age in Cambridgo ICIOI
Slrateglc Roport
For the second year running. we undertook a survey ol membefs who h8d completed their first y¢ar
of membership. Some of the key highlights of the survey were..
92•A of respondenls1202478•hl first lèam8d about U3AC by word of nwjuth
96°A of respondenls1202491.hl said that rnembership had mel or exceeded their expectations
7S% of respondents 1202447%) said that accessing courses was the primary motlvalion for
becoming a U3AC membeT
100¢h ol ￿Spondents12024-s6°Al would recommend U3AC membership lo other people
96% of respondents12024-900hl said they plan lo renew their membership
Premises and IT Systems
Al the start of Novernber. we signed a new 15-year lease on our premises al Brid9e Street which
8150 Includes an option for U3AC to terminate its tenancy after 11 years li.e. in 20361 should it wish
to do so. The Council believes the security of tenure al Bridge Street provided by the new lease is 8
key part of U3AC's long term strategy, which Is dI￿u$$ed more fully below under the section
headed The Future.
As part of the negots81ions on the new lease, the Bridge Street premises had lo close from June
16th until October 3rd to allow the landlord to undertake building works on the roof and water
infrastructure. To ensure we weie able lo ¢ontinue to mgel the neèds of our members, we arranged
for the U3AC office team to move to temporary office space for these three months. The cost of this
short-teTm relocation was mslly mel by Ihe Bridge Street landlord and $0 did not havè a major
impact on U3AC's nel incomè lor thè yaar. However, as a result of the dosure, we were unable to
su&let the Bridge Street premises lo Stafford House Language School so Ihgre was som6
consequent loss ol income.
Another key development in 2025 whlch has important implications for U3AC's long-lerni strategy
was th8 decision to upgrade our adrninislration system. This 5yslem underpins so much of the
operational activities of U3AC, bul it 15 about 10 years old and based on a custom build that is no
longer supported by the Company that developed it. Consequently, ils shortcomings were becoming
increasingly obvious. Following an extensive review ol the options open lo us. includin9 looking at
off-Ihe-5helf produc15 that could be ¢tJslomiseil to our nèeds as wèll as the commissioning of a
bespoke $yslem, thè Council deaded the best route was lo lake step5 to extend and enhance the
life of the current system. This was a more viable, secure and c051-effective approach than
purchasing a completely new system. The initial focus has beèn on steps to enhance the system's
lunctionality and robustness, including providing increased levels of cybersecurity (see below).
Good progress wa5 made in both these area5 in 2025. and further work will tske placè during 2026.
This will include consideration of how to refreshlrebuild the U3AC websrte.
The irnport8nce ol h8ving strong ¢yberseeurity protocols was highlighted in SeptembeT when our
count at our &mail seNce provider, Mailchimp, was compromised. The data held within
Mailchirnp is limited lo names and email addre55es and no addrtion81 personal information is
stored. We are confident that no mèmbèrs, data was compromised because ol the incident.
However, PTompUy upon becoming aware of Ihe incident we asked our database company, Granitè
5, to undertake a forensic review of oui systems. Based on Ihoir raeommèndation, we have made
several changès to our systèms to further enhance securty. This is an area that will remain a high
priority for the Council going forward.

Unlvorslty of the Thlrd Age in CambTidgo (CIO)
Strateglc Report
Council Members, Other Volunt•tr8. Office Staff
A5 referred to e8rfier. we welcomed five new trustees to the Gouncxl during the year. With this, the
Council considers that it now has a full complement of Iruslees with an appropriate mix of skills and
experience lo manage all U3AC's aclivilies. in¢ludin9 Its ongoing legallregulalory compliance and
the implemenlalion of its long-lgrm strategy. which is discussed mole fully in the section below.
The success of U3AC is dependent on Ihosa m&mb8rs who give up so much of their time to
support the organisation, be it as tutors. actiirity leaders, working on the ￿ceptIOn desk or helping
lo providè catering al events throughout the year. The Council wishes lo express ils thanks to each
of you for your contribution5.
The Council would also like to expres5 ts heartfell thanks to the entire U3AC office stsff for their
tireless work Ihroyghtsul the year. Their support ensures our Courses run smoothly and helps
members 9et the very best from their membership. We were sad to say goodbye lo a long serving
member of staff who retired 81 the end of 2025, but delighted lo welcome Ih&ir successor Into the
learn.
The Futur•
During 2025 the Council conduded a major rewew of the organisation's lon*lem strategy. The
aim wa5 to build on U3AC's past success and ensure that il stays w8lkplaced to continue to rneel
thè objectives detaI￿d in dau5e 3 of its constitution and referred to above at the stsrt of the
Trustees, Report.
The Council has derided to adopt 8 '1iving strategy, for the medium to long lem. Pul simply, this
means we will ensure we have a dynamic approach lo man89ing U3AC's activities. Such an
approach should mean we are better placed to adapt to changes in our operating environment,
more easily meèt new cha116ngès thal the organisalion may face and tske advantago of new
OppOrtun￿e$ that rnay arise.
As part of this limng strategv, the Council intends to pursL*è thrae long-term strategic prioribes.
These are..
Continued growth in membership. Ini118lly wè plan IOT a largel increase of 2Vr3% p.a. in net
rnembership numbèrs. i.e., after considering rnernbers who do not renew their membership.
Financial resiliènce. We have consideied what 15 a suitable level of financial resilience given
U3AC's size and self-funded structure. where the primary income stream continues lo comè
from member subs¢riPtions. For us, as with other organisalions, financial rasilièncè means
having capacity to withstand a reasonable level of financial shocks le.g., a sharp drop in
membership numbers or a sudden and unèxpected rise in costs) whrle still meeting the
organi5alion's aims. This will require us to keep appropriate levels of reserves, have efficient
cost controls and continue to have strong goveman¢e.
Maintaining 8 lèvel of operational resilience that is right for U3AC's size and structure. This
means having suffiuent systems and processes in place that will enable the organis81ion lo
respond to potential disruplTrons l¢aused either by exteTnal events or developmfrnls within
U3AG) and Continue lo pro￿de a reasonable level of seNce for its members.

Univgrsity Of the Third Age in Cambridge (CIO)
Slrateglc Report
To ensure we achieve these stratègic priorities, the CouncAI will pursue a range of specific
management ath'ons. Each action has a timescale for irnplemenlab'on, a named "owner. and
reporting requirements by which the Council wlll regulady che¢k perfomance against goals.
Consislenl ￿th a "livlng strategy. the Counryl will amend management actions and the associated
goals. if it considers it necessary lo do so in order lo respond lo changes in U3AC's operating
environment.
The renewal of the lease on Bridge Street referred lo earlier in this report is a kèy factor bn tèm)s ol
ensuring that U3AC has the rneans neeéssary to achiève each of the above-mentioned strategic
piioritias. Similarly, thè ongoing work to upgrade U3AC's administration syslerns and web511e are
important steps in helping to ensure operational resilience and in sUPPOrting the planned growth in
rnembership.
Finan¢ial Review
The accounts for the year ended 31 Dacèmb8r 2025 appear on pages 10 to 18. These show..
A deficit in the movement of funds belofe 98insAts5sÈs on invèstmants of £34,620 12024
£2,733)
The d8ficit is the diffèr8nc8 btheen total income of £494,364 12024 £459,532) and total
expenditure of £528.98412024 - £462,2651
A decrease of £26,47212024- in¢rease of £12,217) in the value of investments
Thè mèmbèrs, subscriptions are the largest source of funding to achieve the charity's
objectives
PolScy on Reserves
With the signing of a new lease, an updated reserves poli¢y will be brought to Council for their
approval in 2026. The Council approvèd policy in 2025 Is as follows'.-
An adversity ieserve of 3 months, running costs Gf £96.000
A working capital resèrvè of £45,000 lin addition to money kept on deposf(I
Cessation reserve of £54,000
A premises re5etve of £300.000 to provide for th8 potanlial fit-out of new premises upon expiry
of the existing lease in October 2025
Total re5erve5 £495.CHJO
Lowèst figure lo which reserv&s should drop £195,000
The Strategic Report was approved by the TTusl8ès of th8 charity on 19 February 2026 and signed
on its bghalf by..
Emaritus Professor Philip Stott
Chair

University of the Thlrd Age In Cambridge {ClOI
Tru¥tg9s' Report
The Trustees. who are also directors of The University of thè Third Age in Cambridge IU3ACI for
the purp058s ol the Companiès Act 20C6, present the annual report, together with the financial
ststgmanls of the charity for the year ending 31 Decernber 2025.
U3AC's Objectives
U3AC is a Charitable Incorporated Organisalion ICIOI registered with the Charty Commission,
Charity Registration Nurnber 1180769. Under thè tems of its Constitution dated 20 Novèmber
2018. the Charity's principal object is to111 advance the education of those not or no longer in full-
time employment through courses of study in a¢ademic and artistic disciplines and 121 pro*ide
facilities for leisure lime and re¢realional aclivities, with the object of improving the conditions of life
for the abovè persons in interest of their social We￿a￿.
U3AC's Constitution allows the organizalion lo raise fund5 and lo undertake a wide range of other
activities that 5UPPOrt or are ancillary to its principal object.
Public Benefit
While exercising theiT powws and duties, the Trustees have complied wlh their obligatson to have
due regaid to the guidance on public benefit published by the Charity Commission. They have a150
complied with the requiremen15 of Section 4 of the Charities Act 2011. The Strategic Report sèction
below provides examples of the actNities the Charty has carried out for Ihe public benefit, and in
a¢eordance with its constitution. in the last year.
Manag•ment and Governance
U3AC is managed by its Trustee5. who collecti￿lY are referred to as the Council. Trustees are
elected by the Annual General Meeting {AGMI for a period of three years, after which time they are
eligible for election for a further three years. The Chair is elected by the AGM for one teTm of Ihr8e
year5. If a vacan¢y arises among elected trustees. the Council may co-opt a member of the CIO to
serve until the next AGM. The minimum number of Counul members is three and the maximum Is
fifteen.
The Constitution r￿UirèS U3AC to appoint suitable indiwduals from arnong elected trustees to
sèrvè as Designated Officers ol the organization. Currently, in addition to the Chair, these
Designated Officers ale Treasuier, Company Secretary, Director of Studies (Courses} and Director
of Studiès (Lectures). Since 2024, the Council has also appointed a vI￿chaIr. The specrfic
responsibilitie5 of each role are documented and rewewed regularty.
U3AC's Council is responsible for organi5alional policy making and planning, financial
decision-making, and the overall operation ol the Charity. Day-to-day operation5 are deleg*ed to
team made up of onè fulk*'m6 empbyee, three part-time enployees and a freelance professional
bookkeeper. U3AC has a full range of policies and a$so¢iated procedure5. all of whi¢h are
reviewed regularly lo ensure the organisation acts in compliance with relevant law and follows good
practsce.
The Council mee15 al least every two months and an AGM of the memberg of the CIO Is held
usually in March. At the meeting on 26 March 2025 five new Iruslees were elected to the Council,
bringing the total number of elected trustees up to fourteen.
The annual report was approved by thè Trustees of the charity on 19 February 2026 and signed on
ils behalf by..
Emeritu5 Professor Philrp Stott
Chair

Unlverslty of the Thlrd Age in Cambridge (CIOI
Statement of Trustees, Responsibilities
The Trustees {who are a150 the directors of the Universrty of the Third Age in Cambnd9e ICIOI for
the purposes of company lawl are responsible for preparing the Trustees. report and the financial
stalernenls in accordance with the United Kingdom A¢counting Standards (United Kingdom
Generalty Accepted Accounting PTactice} and applicable law and regulations.
Company law require$ the Trustees to pr8paTe financial stalemgnts for each financial year. Under
company law the Trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the slate of affairs of the charitable company and of ts incoming
resources and appI￿allOn of resources, including ils income and expenditure, for that period. In
preparing these financial statements, the Trustees are required to..
select surtable a¢counting policies and then apply them consistently,
observe the meth￿S and principles in the Charities SORP.,
make judgements and eslimales that are rgasonable and prudent.,
slate whether applicable UK Accounting Standards have been follow￿, subject to any material
departures disclosed and explained in the financial statements.. and
prepare the financtal statements on the going concern basis unless il is inappropriate to
presume that the charity will continue in business.
The Trustees ar8 responsible for keeping adequate accounting records that are sufficient to show
and explain the charitable company's transactions and disclose with reasonable accuracy at any
time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the chari(able company and hence taking reasonable steps for the prevention and
detection of fraud and other IrTegularilies.
Approved by the Trustees of the Charty on 19 February 2026 and signed on ils behalf by..
Emeritus Professor Philip Stdt
Chair

University of the Third Age in Cambridge (CIO)
Independent Examine￿9 Report to the Trustees of University of the Thlrd Age In
Cambridge {ClO)
I report on the a¢￿untS of the chaTty for the year ended 31 December 2025 which are sel out on
pages 10t0 18.
Rospectlv¢ re$ponsibllltles of TrUSt￿S and examiner
The Trustees (who are also the directors of the company for the purposes of company lawl are
responsible for the preparation of the accounts. The Trustees consider that an audit is not required
for this year under sectyon 144121 of the Char(ties Act 2011 (the 2011 Act) and that an independent
examination is needed. The charity's gross income exceeded £250,000 and l am qualified lo
undertake the examinab.on by being a qualifi&d member of the Association of Chartered Certified
A¢¢ounlants.
Having satisfied mysall that the charrty is not subject to audit under company law and is eligible for
independent examin*ion. il is my responsibility lo..
examine the accounts under section 145 of the 2011 A¢t,'
to follow the procedures laid down in the gener81 Directions given by the Charity Commission
under section 145{5jlbl of the 2011 Act., and
lo state whèther parbcular matters have come to my attention.
Basis of independent examlner's report
My examination was carried out in accordance Nmlh the general Directions given by the Charty
Commission. An examination indudes a review of the accounting records kept by the charity and a
comparison of the accounts presented wlh those records. 11 also includes consideratit)n of any
unusual items or di3c105ures in the accounts. and seeking explanations from you as Trustees
concerning any such matters. The procedures undertaken do not provide all the evidence that
would be required in an audit and consequently no opinion Is given as to whether the accounts
present a 'lrue and fair vie%V and the report is limited Ic• those matters set out in the statement
below.
Independent 9xamIne￿S statement
In connecbon wlh my examination, no matter has come lo my attention..
111 vthich gives me reasonable cause lo believe that in any material respect the requirements..
to keep accounting records in accordance with section 386 of the Companies Act 2006..
and
lo prepare accounts vknich accord wlh the accounting Tecord5 and compty wth the
accounting requirements of section 396 of the Companies Act 2006 and with the melhodg
and prinaples of the Statement of Recommended Practicg.. A￿OUntIng and Reporting ty
Charities
have not been met., or
121 to which, in my oplnlon, attenllon should be diawn in order to enable a proper understsnding
of the accounts lo be reached.
Gary Eves FCCA
Association of Chartered Certified Accountants
Faitwdy Tax and Accounting Limited
Chartered Certified Accountants
11 C Alma Road
King's Lynn
PE317NY
19 February 2026

University ofthe Third Age In Cambridge (CIO)
Statement of Financial Activities
for the year ended 31 December 2025
Notes
Unrestrl¢tod funds
General D•$lgnated
Totsl
2025
Total
2024
Income and Endowmonts from:
Donations and legacies
Charitsble trading income
Investment in¢ome
78,087
7,666
24,187
78,087
392,090
24,187
BS,302
351,696
22,534
24.424
Total income
489,940
24,424
494,364
459,532
Exponditur¢ on:
osls of generating fvnds
Teaching costs
1269,2521
122,312) I291,￿4>
1270,988)
Charitable aclNili8s
Charitable aclivilie5
1237,420
1237,4201
£191,277)
Total expenditure
IS06,8721
122,3121 {528,9841
{462,2651
Gainsll105sesl on listed investment
assets sale
Gainslllosse$l on listed investment
assets ￿valuationS
126,4721
126,4721
12,217
Net movement in funds
-(63,204
2.112
.161,0921
9,484
Roconciliation of funds
Total funds brought forward
673,947
5,856
679,803
670,319
Transfers between fvnd$
609
{6091
Total funds carri¢d fotvArd
611 352
7,359
618.711
679,803
All of the charitys activities derive from ¢ontinuing operations.
10

Universlty of the Thlrd Age In Cambridge ICIOI
Company rogistration number- CE015658
Balance Shoot
as at 31 December 2025
Notes
2025
2024
Flxed assets
Tangible assets
Listed investments
86,286
526.544
592.830
45,682
553,016
598,698
12
Current assets
Other current assets
Cash at bank and in hand
13
14
46.888
247.534
294,402
43,147
299,739
342,886
Creditors,. amounts falllng due
within one year
15
1268,521}
(261,7811
Net current a$sots
25,881
81,105
Total assets less current
618,711
679.803
Not assets
618,711
679,803
Funds of the charlty:
Unrestricted funds
General
Designated
16
611,352
7,359
673,947
5,856
Total funds
618,711
679,803
For the financial year ending 31 December 2025 the Charity was enlilèd to exemption from audit und8r
section 477 of the Companies Act 2006 relating lo small companies.
Directors, responsibilities..
The members have not required the charty lo obtain an audit of its accounts for the year in question
in accordance with seth'on 476-, and
Thg directors acknovAedge their responsibilities for ￿mPlyIng With the requirernents of the Act wth
respect lo accounting records and the preparation Df the accounts.
These accoun15 have been preparod in accordance with the provisions applicable lo companies SLtbje
lo the small companies regime.
The financial statements on pages 10 10 18 were approved by the Trustees, and authorised for is$ug on
19 February 2026 and signed on their behalf by..
Emeritus Professor Philip Slott
Chair
Kevin Holmes
Treasurer

Unlverslty of the Third Age In Cambridg• ICIOI
Notes to the Accounts
for the year erlded 31 0￿9Mber 202S
1 Accountlng policles
Summary of Sign￿¢an1 accountlng polkles and kty a¢tountlng estlmatss
The principal accountin9 poliC￿S aPpl￿d in the preparglion of these financial Statements are sat out ts81￿. Th•se
li¢￿$ have bean con8f&tendy aPpl￿d to al the years PTesenied. unless otherwse stated.
Statgmènt of compllanco
The financial statement$ have been prepared in 8ccordanca wth Acceuntiny Reporting by Charit￿$." Statement of
Recomrnended Pra¢lit£ 8pphCab￿ lo charilyds preparing their accounts in accordance wrth Financial Reporting
Standard applKabJe in the UK and Républic of Ireland IFRS 102118ffective 1 January 20151- (Charities SORP IFRS
10211 and the Companie5 Act 2006.
Bas16 ot preparatlon
Unwersty of tha Third Age in Carnbittlge ICIOI mee15 Ihe thfinthon of a p￿11¢ b8nefil entity under FRS 102. Assets
and liab1lit￿s are inrttally recognised 35 hi5torral cost or IransaGtian value unless olherwse staled in the relevant
acGvunliw policy nolg¥.
Exernptlon from pr8parfng a cash Ilow statement
The charity opted 10 early adopi èulletin 1 publi8hed on 2 Febwary 2D18 and have tr*￿fore not Included a cash now
statemenl in IhBse financlal statement8.
Golng concern
The Trustees consvjer thai I1￿￿e are no mater￿1 uncertaInt￿$ about the char￿5 abilty to Gonlinue as a 9tsin9 concern
rYJr any spJnrfKanl area5 of uncertainty that affect the carrwng value of assets hehg by the charty.
Income and endowmonts
Volunlary income ti)cl￿aIn9 donation5. gifts, legac￿5 and grants Ihat provKle core funding or are of a general nalure is
re¢oynised %*hen Ih? charity has entillemenl lo the inGome. rt is probabl8 that the income will received and the
amount can measured wlh suifiuenl reliathl'ty.
Oon8tiO*JS 8ndlegacl8s
Donations and legac￿8 are recogni5ed on a recewabk basis when receipt is Probab￿ and the amount can be relkqb
asured.
Investrnent Income
Interest on fund$ héld on deposrt indud8d when rec*vab￿ and the #mount ¢an be measured relkqbty ty the charty.,
Ihis is norrnalty upon nolificat￿n of the inieresl paid or payable by the bank. DivKlend$ are recognised once the
dividend h95 been de¢lared and notifLcalion has b8en roceived of Ihe di¥ideTKI due.
Subscrfptlon5 andglftald
Subscription5 recewed in the p8riod Juty to December are splrt proportiona￿ b8N¥een the cutrent and $vb$equent
nnanaal year5, Wrth 6 months treated ¥$ re¢ewed in the cuffenl yaar and 6 months in the next. The 5arne procédurè
apples lo gift aid received.
Exp8nd6turo
All expenditure L8 recognised once lhe￿ is a ￿gaI or Gon$ttu¢tNe oblwJalion to that eX￿n￿rture, it is probgble
sèttlement is required and the amount can be measured reliably. Al costs are allocated lo the applKable expenditure
IEatling that aggregate similar costs lo that category. Where costs ¢annol be directty attributed lo particular heading5
they have been allocated on a basis consis16nl with the use of re50urce5. With onlral 51aff costs alkJcated on the ba515
of lime $peni. and depreaation charges aNocated on the portKin ol the asset's use. Other support costs are allocated
based on the spread of $laff costs.
Ch**lt8ble8cllvltles
charitab￿ expenditure ccrnpri5es those costs inGurred by the charty in the d81wery of ils activit￿S and servres for rts
beneficiar￿$. 11 Indudes both costs Ihal can be direGtty alk)¢aled to such actNrtk* and thoBO Costs of an indrect natur
necessary lo support them.
12

Unlversity of the Third Age in Cambridge ICIO}
Notes to the Accounts
for the year ended 31 December 2025
Govovnanco costs
These inrjude the costs attributab￿ lo the charitys com￿￿nCe with constitutional and $talutory iequirw￿nls, including
aydil, $trat¢9ic monogement and Truslee8' meetings and reimbursed exp8n50S.
Taxatlon
The charity is ronsidered to pass the te$l$ set out in Paragraph I Schedule 6 of the Finante Act 2010 arnl th&refor&11
meets the definition of a charilabk company for UK corporation lax purp058s. Accordiroty, the rharity 1$ potential
8xempt from taxal￿n in respect of in¢ome or ¢apllal gain$ recenied within categories covered by Chapter 3 Part 11 of
the Cowration Tax Acl 2010 or Secth)n 256 of Ihe Taxation of Chargeable Gains Act 1992. to the e￿ent that $u¢h
income or gain5 are appl￿d exdu5wely to charitable purposes.
Tanglble Thxed as88t8
Individual fix8d assets costing £100.00 or more are inilkqlly re¢orded at ca$1, 18ss any subsequ8nt accumulat•
depreciation and subsequent accumulated impalm￿nI bsses.
Depreciation and amorusatlo
Depreciation Is provided on tangib￿ ftted assets se as lo wrle off Ih? c05t or valuation. ￿$$ any eslimaled residual
Value. over their expe¢ted usel￿ e¢onomic life as folknws..
Furniture and equipment
Adrninislrative $y5tern
Aheralions 27128 8rKlge Street
33.￿ slrai9hl line
Strayhl line over 11 years
VOStmer
Investr￿ntS cornp￿e inveslments in equrty inslrum8nts which are measured al fair Value. char￿e5 in falr v¥lue a
recognksed in or1055.
Cash and cash 04ufv41gnts
Cash and cash equwalenls comprise ¢a$h on hand arnl i*ll deposlls, and other short-term hwhly IKIUKI inveStrn￿lS
Ihal are readity convertiNe lo a kno1￿ amount of cash and are subject to an insignificanl risk of change in value.
Fund structure
UnreStr￿ted irKome funds are general lunds that arn availabb for use at the Tiu5tees' dis¢reiion in furtheran¢e of thè
objectives ef the ¢harily.
Financial instwmer
Classlflcallon
Financial assets and finanual liabiithe$ #re re¢ognised the charity bacomes a party lo the contraGtual provi$i(m$
of the insliumenl.
Financial liabilityas and equity instrumen15 are ¢la$s[r￿d accofdhg te the substance of the contractual 3rrangtmÈTrts
entered Into. An equty instrument 15 any contract Ihal evidences a residual interest in tho assets of the charity after
deducting all of its likni1￿8s.
Reeagnltlon and measurement
All financial a$sei$ and Ilabilit￿$ ara inthalty measured al transaction prKg linGludir¥J Iransactlon costs), except for
Ihose finariGial assets classrf￿d as al fair value through profil or1055, whith are inlllally measured at fair value IwhKh
15 norynalty the Iran$adion pricé excluding transact￿n costs), unless the arrangement constitutes a finan￿r￿j
transaction. If an arrangemenl constitutes a financiThJ transaction, the finanaal asset or finanual liabilty is measured at
the present value olthe future payments disceunled al a mathel rate of interest for a $imilar debt instrument.
Financial a￿81$ and liahililKg5 are off5el in the $talemént of financlal posllion ¥then only when there exisLs a
gamy enforceabte ri9ht lo set off the recogn￿ed amoun1$ and V)e ¢hanty mtend¥ ether to settkry on a net ba$L%, Of to
realise the asset and s8ffle the liability simuttaneou5ty.
Financial assets are derecognised when and onty when al Ihe contraGlual righls ltr th8 cash flowd flcffi the financkql
Isset expirt or are $ettled. bl lh8 charity transfers lo another paty 5ub5tsnlialty all of th& risks and iewards of
ownership of Ihe finan¢rdl a$$el. or cl the charity, despite hayiw retal￿d $ome, but not ￿1, synrfKant risks and
rewards of Ow￿[shIp. ha$ tran$ferred conlrol ofthe asset lo anolhor party.
Financial li8bilitBs are derecogni58d onty when Il* oblvJati¢n specified in the conlract is discharFd. Gan¢elled or
expiras.
13

Unlversity of the Thlrd Ag• In Cambrldgè ICIOI
Note3 to the A¢¢ourtts
for the year ended 31 D¥¢¢m￿l 2025
thvesknvnts
Investments in nOn-conVertb￿ prefeTEnR Sha￿$ and nonwuttob￿ tsrdinary or praference 5h8res (WI￿re $haTOS aro
publicty traded or their fair value is reliabfy mea$ura)kl are mea$ufed al fair vakne thrO￿h profrt or1055. Where fai¥
value cannot b8 measured reliabty. investments gre measured al ¢ost le$$ impalmient.
Invesiments In 8ubskliorfo$ and associates are measured at cost kns impamieni. F¢r inve$tm8nts in subsidiaTi88
8cquir￿ for consideTalion includiw the issue of shares qualrfyin9 for ￿rger rellef. M$t L8 m8a$ured by reference 10
th& nominal value of the shares issued plus fair value of olher con5Kleration. Any premium 1$ ¥Jnored.
Falr value me3sureffl¢nt
The b8sl evidence of fair value B a quoled prire foT an idEnlical assel in an active market. When quoted prire3 are
unavaiLqble. the price of a recent transaGtion for an Klenlical asset prO¥￿eS evidence of fair value as a5 there has
not been a S￿jn￿lC8nt change in economic cir¢umsian¢e$ or a $ionrfi¢anl k2pse of time since the traTh8aclion place.
Ir the market is nol active and recent Iran5action5 Of an ￿EntiCal assel gn their th¥n are not a good estimate of fair
valug. the fwrvalu8 i8 estimated by using a valuat￿￿ teGhniiue.
2 Incom• from donations and legacle8
Unrestrfcted
General
Do5ignated
Totsl
2025
Total
2024
Donat￿$ antl kgades".
Oonations
Gro$$ ¢(>venanted and g.rft a"
11,044
87,043
11,044
67.043
78.087
29,833
$5,469
85,302
The tolal Inco￿ from donal10￿ and k9#¢￿$ was £78,OB712024- £85,302) au of which was unre5triied general.
3 Charttable tradln9 income
Unre8td¢ted
General
DeBlgnat8d
Total
2025
2024
Subscriptions
Enrolmenl fee5
Cla551teaching fees
Chargeslspec￿li5t lurtKin
Special evenl$
Bird Club income
Cuhural and SoGial Committee inGorne
Botany Group income
Mk8celL8neou8 nc. premrJes hire
326,477
1.975
14,969
1,757
16,894
326.477
1.975
14.969
1,757
16.894
952
17,743
4,406
6,917
392.090
272.608
2.243
15.095
1.120
6.335
12.175
12.759
952
17,743
4,406
1.323
24,424
5.594
367,666
22,397
351.696
The total inceme from ch8rdabSa xtfvilies was £392.09012024. £351.6961, of wh1¢h £367,66612024- £319,7981 was
unrestrfcled general and £24.424 12024- £31.8981 wa5 designated.
4 Imf¢5tmont In¢om
Unrestrlet
General
Designated
rotal
2025
Total
2024
IncoTh from inveslmenls.,
Dfvklends and Interest
Inl8re5t recenffab￿ and sinilar in¢ome."
Gr05s bank inteffjst
15,460
15.460
15,054
8,727
8.727
7,480
24,187
24.187
22,534
The total investment incom?wa5 £24,18712024- £22.5341 all of which %¥0$ wreslnctsd general.
14

Unlverslty of the Thlrd Age In Cambridy ICIOI
Notes to the Accounts
lor the year •nded 31 December 2025
S Exp8ndlture on ralslng funds
Unrestdcted
Gerttrnl
D¢signot¢d
Total
2025
Totsl
2024
T¢a¢hing provislons
A¢¢ommodalion- Bridge Slreot
AGGommodalion- other costs
Te¥hing costs
Bird Club expendttu
Cullural and Social Committee eX￿nditure
Botsny GrDUP expenditure
Special events
MLscellanetsus
162.395
72.418
8,137
162,395
72,418
8,137
750
14.723
6,125
16,429
10.587
291,564
147.941
73,404
7.442
11,586
12.393
5,905
6,845
5.472
270,988
750
14.723
6.125
18,429
9,873
269.252
714
Th8 total expendrtuwe on ra￿1￿9 fund$ wos £291,564 12024 - £270,988) of whith £269.252 12024 - £241,104) wa&
unieslricted general and £22.31212024- £29,884) was dasignalad.
e Expendituro on charitable activltlvs
Unrestricted
G8n8ral Oesl9natod
Totol
2025
2024
Governance and 5UPWrt C0515
237,420
237,420
237,420
237,420
191,277
191,277
7 Anatysl$ ol #oveman￿ and support ¢08ts
Vnrestrfct•d
Gen8ral
D•sign￿•d
Total
2025
Total
2024
Office S￿Or*S
Printing, postage and 8talh)nery
Te￿hone and IT
DÈpreciabon
Legal and professlonal fees
A¢¢¢untan¢y
C￿an1Th9
Bank charges
86,913
25.490
39,497
57.718
14.944
1.1D4
5.937
5.817
86,913
25.490
39,497
57.71B
14,944
1.1Q4
5,937
5,817
237,420
80,390
21.451
25.578
44.258
5.851
1.050
7.525
5.174
191,277
The total expenditure on governance and support costs was £237,42012024. £191.2771 au of which wa8 unrestricted
general.
15

University ot the Thlrd Ag• In Caml)rldge ICIOI
No18$ to the Accounts
for the year ended 31 O•eambor 2025
Staff ¢osts
The average ol staffemp￿Y8d during tha yearwas..
Total
2026
Total
2024
Full lime
Part lime
Staff costs included in Ihe finarKi315talernenl$ are broken as.
Total
2025
Total
2024
Wages and salarv38
Soaal $8cunty costs
Employe¢$ pension cenlnbutions
80,877
375
5,fj61
86,913
75,130
5,260
8Q,390
No employee5 receiving empbyee benefrts lexdL*1ing employer ￿nSIon Gostsl rec•iv¥J more than £80.LX)0 ln the
¢￿￿ent year.
9 Trust805 remunera￿0￿ and expensos
No Trusle8s, nor any person connected wilh them. have reGewed any omuneralion from the charty during the year.
10 Taxatio
The cmarty a regkslered ¢harty artl 1$ therefo￿ exempt tr¢m tsxat￿jn.
11 TanglbFe Ilxed a¥sots
Alieratlon8
27128
Brldge St.
F￿mItUr8 &
Èquipmènt
Arfmln
System
Total
Cost
At 1 January 2025
Additions al cost
14.623
6,452
21.07S
9,232
40.782
$0,014
205,701
31,088
229.556
78.322
307 878
At 31 December 2025
D8preclatlorb
Al 1 January 2025
Charge forthe year
Al 31 December 2025
10.082
3.557
13.639
9,232
10.195
19.427
164,560
43.966
208,526
183.874
57,718
241,592
N•t bookval
Al 1 January 2025
At 31 0&embtrr 2025
4.541
7.436
41.141
28,263
45,682
66,286
30.587
12 Llstad In¥èstm•nts
2025
2024
Listed olh8rshare$
526.544
553.016

Unlverslty of the Thlrd Age In Cambrldge ICIOI
Notès to the Accounts
for tho y￿r ènded 31 December 2025
13 Other curront as80ts
202S
2024
P￿payMen1$
46,868
43,147
14 Qsh ot bank and In hand
2025
2024
Main fund".
CwperaiDie Bank- main
C(wperalDie Bank- number 2
Cambridgè and Counties Bank. savings
Cambridue Buikliny Sotiety
CCLA- COIF charitE5 depo$il fund
De5vJTTraled fund.
Bird Club- treqsurer$ a¢¢ount$
Cumural and SO¢1￿ Commlttee- maln
Cash and 5tarnps in hand
35,758
1.948
12.461
18.962
172.756
21.809
679
11.965
18.550
239,485
1.285
1,087
1,791
4,353
299,739
3.228
247,$34
15 Cfedkor5- amounts falllng duo wlthln ono yvar
2025
2024
Other creditors
AcGruaKs
Subscriptions in advant>
Gift aKI in ad¥aD¢e
Pre-pa￿ ¢OUTse fee$
Provi$ion for dilapidation
Provi$ion bifwd
28,037
1.213
159,722
24,579
9,610
12,941
1,519
164,645
26.573
8,743
47,360
268 521
47,360
261.781
17

Unlverslty of thè Thlrd Age In Cambrldge ICIOI
Nots¥ to the A¢¢ounts
for the year ended 31 Dècember 2025
16 Funds
Baianco at
0110112025
Balènce at
3111212025
InG¢)m•
Expandlture
T￿5f*r$
Unrestricted general
673,947
469,940
1533.1441
611.352
08signaled..
8ird Club
Cultural and Social Comrnittee
Botany Group
Olher Small One Off Events
1.087
3.710
1.059
952
17.743
4,406
1,323
24,424
17501
114.7231
16.1251
17141
122.3121
1,289
6.730
16601
16091
18091
7.359
Total funds
679.803
494,364
818711
BalaDGe at
alance at
3111212024
0110112024
Incom•
Expendtturo
Transf•rs
Unrestricted pner81
666.477
427,634
1420.1641
673,947
Oe5ignated"
eird Club
ural and Soaal Committee
Botsny Group
498
12,175
12,759
111,5e61
112.3931
15.9051
129,8841
1,087
3,710
1,059
5,856
3,842
31.898
Total futKIs
67Q 319
459.532
450.J48
679,803
The designated fund5 are madé w of the Bird Club. the Cultural and So¢ial committee, 8olany Group and Olhei Sm￿1
one off evenl$ which each Mse money from their respective u5et5 and reta￿ this ￿ separate bank account$ managèj
by these club5 le¥¢lutlirvJ Botany Group, other Small one off eveD15 and sM)e Mon1￿ related lo the CuRural and Social
Commitleel. These funds are in p&ce to arrange events and vi5it5 on i*haW of th8 charty. The arLounts or these
dubs are kept separate and consolhJat8d in the financial slalements.
17 Anaty818 of net assets botsYo¢n lunds
Unr¢strlctèd
Gonèral
D6slgnat8d
Total
Fixed assets
uttenl assets
Curnl liabilities
592,830
287,043
L268:5211
611352
592,830
294,402
1268.5211
618.711
7,359
7.359
18 Rolated paty transactfio
Thgréwere no relaied parties er related party transact￿0$ during the ￿ar ended 31 Decemter 2025.
18