## **HGS U3A Trustees’ Annual Report & Financial Accounts 2023** ## **REPORT OF THE TRUSTEES** ## **HGS U3A** ## **REGISTERED CHARITY NO.1182530** ## **FOR YEAR ENDED 31 MAY 2023** The Trustees of HGS u3a present their report and the accounts in respect of the financial year ended 31 May 2023. ## **Status** HGS u3a is a Charitable Incorporated Organisation (“CIO”), registered as a charity by the Charity Commission for England and Wales with registration number 1182530. Its registered address for correspondence is Fellowship House, 136a Willifield Way, Hampstead Garden Suburb, London, NW11 6YD and its website address is: https://hgsu3a.uk/. It operates under a Constitution approved by the Charity Commission. ## **Trustees** HGS u3a is managed by its Trustees. Margaret Bendor resigned as a Trustee in February 2023, and then very sadly she died from cancer in April. The Trustees record their appreciation for Margaret’s unfailing devotion to her work for HGS u3a as membership secretary. That role, but not the Trusteeship, has been passed on to Polina Chryssanthopoulos. At the AGM on 28 July 2022, Myke Jacobs stood down as Trustee for health reasons. Myke worked particularly on our PR, and although no longer a Trustee he continues to provide valuable help in that area. Shortly after the AGM, Simon Freeman took over from Arjun Matthai as Treasurer, but not then as Trustee. Arjun subsequently relinquished his role as Trustee. We are very grateful to Arjun for his several years of work as Treasurer of HGS u3a, helping to bring us to the sound financial position in which we now stand. 1 HGS U3A Trustees’ Annual Report & Financial Accounts 2023 In November 2022, Tina Stanton and Malcolm Brahams extended their role as Groups Organisers to be also Vice Chairs, directly assisting the Chair. No other changes to Trusteeship occurred during the year to 31 May 2023. After the year end, Simon Freeman and Carole Spiers were appointed as Trustees at the Trustees’ meeting on 26 June 2023, which appointments expire at this AGM. Eleanor Levy, who edited our Newsletter until December 2022 as well as running the successful ‘In Conversation’ series of interviews, has expressed her wish to resign as Trustee with effect from 3 August 2023. ## **Public benefit** The public benefit role of HGS u3a is the advancement of education, and in giving effect to that role the Trustees have had regard to the Charity Commission’s guidance on public benefit. ## **Objects** The objects of HGS u3a, in accordance with its Constitution, are: ‘The advancement of education and, in particular, the education of older people and those who are retired from full time work, by all means, including associated activities conducive to learning and development.’ HGS u3a meets these objects and provides public benefit by enabling members to share their knowledge and experience and thereby continue to learn, in particular through establishing Interest Groups and convening other meetings of members. Although there is no geographical restriction on its membership, as its name implies most of the members of HGS u3a live in Hampstead Garden Suburb and the adjoining areas. The Interest Groups form its core, reflecting the knowledge, skills and experience of its members. Some groups are led by experts (for example, languages, yoga) and others are based on equal participation. Until the Covid pandemic, the majority of Groups met in members’ homes, which provided a relaxed and friendly atmosphere; other Groups met in hired facilities (for example, the Free Church Hall for table tennis) or outdoors (for example, 2 HGS U3A Trustees’ Annual Report & Financial Accounts 2023 Thames Path walks). At the time of the Covid pandemic, many groups moved to meeting only via Zoom facilities which were generally provided by HGS u3a. More and more groups are meeting in person again, although many continue in part or in whole to meet via Zoom. In addition, HGS u3a organises regular topical talks inviting high profile, unpaid, external speakers. The Trustees comply with the data protection legislation. HGS u3a has established policies and procedures in line with this legislation and other legal requirements. ## **Interest Groups** Currently around 60 interest groups continue to meet, either virtually on Zoom or in person. Group Leaders and Facilitators are key to the success of the whole u3a and our thanks go to them all. Malcolm Brahams and Tina Stanton, our joint Groups Organisers, have provided support to all Group Leaders as well as fostering the development of new Groups throughout the year. ## **Membership** The total membership of HGS u3a at 31 May 2023 was 563, up from 475 a year earlier. ## **Volunteers** HGS u3a is run entirely by volunteers. ## **External Relationships** We are affiliated to the UK u3a umbrella body, the Third Age Trust. This provides general support and helpful direction. Some of our Trustees have attended u3a London Regional Meetings and meetings on PR for u3as. David Powers is a member of the national Beacon Support Team helping other u3as migrate to the online Beacon membership database and creating training videos. We have a partnership with Middlesex University; members of HGS u3a have assisted students with career mentoring and research and in return academic staff of the university have given a series of lectures to our members. 3 HGS U3A Trustees’ Annual Report & Financial Accounts 2023 ## **Beacon Database** HGS u3a manages the membership database, Beacon, through its Beacon Administrator, Alan Lee. It is used for group e-mailings, reporting membership statistics and recording subscriptions. ## **Charity status and Gift Aid** HGS u3a became a Charitable Incorporated Organisation (CIO) on 19 March 2019. The situation regarding Gift Aid on subscriptions is set out in the Treasurer’s Report. The contact with the Charity Commission is our Secretary, Mayah Weinberg. ## **Financial Report** Please refer to the Treasurer’s Report. Mr Ravi Patel acted as the Independent Examiner of our Financial Accounts until the year ended 31 May 2022. He has resigned from that role, and in his place the Trustees are recommending that David Epstein becomes the Independent Examiner for the year to 31 May 2023. ## **Subscriptions** The annual subscriptions for members were £35 for an individual member and £60 for two members living at the same address for members who pay by bank transfer/BACs. A small premium of £2 is charged for payments made by cheque. The Trustees, having the power to do so, have decided to increase the subscription rates for 2023-24 to reflect increasing costs, in particular the return to hiring of halls for Groups. The increase has been kept at the low level of £2 for an individual and £4 for two members, giving rates of £37 for an individual member and £64 for two members living at the same address for members who pay by bank transfer/BACs. A premium of £2 will continue to be charged for payments made by cheque. The low level of the increase reflects the Trustees’ decision to allow our reserves to somewhat subsidise subscription rates for the immediate future, thereby reducing our reserves in time to the level appropriate to a charity of our size. 4 HGS U3A Trustees’ Annual Report & Financial Accounts 2023 ## **Our Thanks** HGS u3a is a voluntary organisation that is run by and for its members. The Trustees are grateful to all the Advisers, the Group Leaders and Facilitators and other members who have contributed so much time, energy and expertise in organising, maintaining and developing HGS u3a’s activities. This has led to an active, vibrant and successful organisation. This report was approved for distribution to our members by the Trustees on 16 July 2023. 5 Treasurer’s Report for the Financial Year Ended 31 May 2023 I would like to thank my predecessor, Arjun Matthai, from whom I took over mid-year, for all his work as Treasurer and for his support during the hand-over. I refer you to the Income and Expenses and Balance Sheet of the Financial Accounts for the Year to 31 May 2023 that has been examined by the Independent Examiner, David Epstein. His report is included with the package of financial documents. Ravi Patel, who acted as Independent Examiner in the past, was unable to continue and we thank him for all his assistance. Gross Income for the year of £17,836 was up from £14,258 due to a £10 per person increase in annual subscriptions and an increase in membership from 475 to 563. The increase in subscriptions was to reverse, in part, the reduction caused by a significant diminution in inperson activities due to COVID. Due to a change in the understanding of Gift Aid notified to us by Third Age Trust, we have not subsequently claimed Gift Aid on subscriptions. We hope that this will be resolved in due course enabling us to do so in the future in respect of subscriptions paid in the year and thereafter. Although our income was significantly up on last year, we ended the Financial Year with a deficit of £1,831 compared with the deficit of £738 last year. This was mainly due to higher venue hire costs as a consequence of increased in-person activities and an increased number of groups meeting at venues. Detailed analysis and comparison of costs and expenses between 2022 and 2023 is set out in the Costs and Expenses Schedule. Reserves at 31 May 2023 stood at £28,214 (£28,321 last year), mainly represented by £21,430 (£25,883) cash in the bank and £6,305 in prepayments. Our overall financial position is sound. As set out in the Trustees’ Report, there will be a modest increase in subscription rates for the forthcoming year of £2 per member in anticipation of actual and expected increase in costs and expenses relating especially to venue hire. The subscription increase could have been significantly greater, but the Trustees have agreed that our expenses for the near future may be partly met by reducing our reserves to a level that is in line with best practice for a charity of our size. 6 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HGS U3A** I report on my examination of the accounts of HGS U3A, charity number 1182530, ('the Charity') for the year ended 31 May 2023, which are attached to this report. ## **Respective responsibilities of Trustees and Examiner** The Charity's Trustees 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 Charity'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, as far as possible and relevant. I have had several discussions with Simon Freeman, the current treasurer, and all of his explanations are, in my opinion, fair and reasonable. ## **Basis of Independent Examiner's statement** I have completed my examination. I confirm that no material matters 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: 17 July 2023 **David Epstein FCA (retired) 9 Cornwood Close London.** **N2 0HP** 7 **HGS U3A Financial Accounts for the Year to 31 May 2023** **----- Start of picture text -----**
INCOME £ to 2022 EXPENSES £ to 2022
Subscription by Cheques & Cash 1,061 1,566
Subscription by Bank Transfers 6,609 9,186 Subscription Paid to Third Age Trust 1,879 1,571
Subscriptions by Paypal & Zettle 10,852 Magazine Subscription Paid to TATTL* 1,118 760
Less Rebates -246 -80 Beacon Fee Paid to TATTL* 482 450
Total Subscriptions 18,276 10,672 CLA Licence Fee paid by and reimbursed to Third Age Trust 60 60
Subscriptions Accrued & Cfd to Subscrptn Year 2022-23 ending 31 Aug 2023 -4,569 -2,668 Total Payments to the Third Age Trust Group 3,538 2,841
Deferred Subscription Income from 2022-2023 Released from Reserves Bfd 2,668 2,017
Venue Hire -
Gift Aid & Donations 137 2,245 - Fellowship House 2,551 853
Bridge Collections less Supplies 510 1,266 - Free Church & Free Church Hall 10,717 4,784
Topical & Other Talks: Teas & Coffee Collections 128 - Quakers Hall 1,875
Table Tennis Collections 671 727 - Finchley Youth Theatre 248
Sundry BACS & Cheques 15 - Finchley Cricket Club 800
Total Income 17,836 14,258 Less Prepayment for summer term -2,953
Total Venue Hire Costs 11,363 9,117
Open Day Expenses 814
Other Costs & Expenses (see analysis) 3,603 2,863
Depreciation 524
Expenses & Costs Paid 19,843 14,821 Expenses & Costs Paid 19,843 14,821
Expenses Payable and reversal in 2023 -175 175
Total Expenditure 19,667 14,996
Cumulative Deficit for period to 31 May 2022 -1,831 -738
ASSETS £ to 2022 LIABILITIES £ to 2022
Fixed Assets (per Fixed Asset Register) 418 508 Reserves at 31 May 2021 28,321 28,232
Current Assets Release of 3/3 of 31 May 2021 DSIR* -2,668 -2,017
Cash in Bank 21,430 25,883 Deferred Subscription Income 4,568 2,668.000
Float 61 27 Cumulative Deficit to 31 May 2022 -1,831 -738
Prepaid Subscription to Third Age Trust 1,830 1,513 Reserves at 31 May 2022 28,390 28,145
Prepaid Magazine Subscription to TATTL 1,065 0 Current Liabilities
Prepaid Beacon Fee to TATTL 458 390 Invoices Payable & Accruals -175 175
Prepaid venue hire for June & July2023 2,953
Total 28,214 28,321 Total 28,214 28,321
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* TATTL is the Third Age Trust Trading Ltd, a wholly owned subsidiary of the Trust that carries out the Trust's commercial activities and gifts any surplus to its parent 8 **HGS U3A Financial Accounts for the Year to 31 May 2023** ## **Costs and Expenses Schedule** |**Year To:**|**31 May 23 31 May 22**|**31 May 23 31 May 22**| |---|---|---| ||**£**|**£**| |_Other Costs_||| |Bank Charges|74|34| |PayPal & Zettle Charges|209|| |Bridge||| |Cleaning Up||| |Phone||| |Table Tennis Costs|720|720| |Wine: TT Speakers & Cffee Concert|48|32| |Excursions||| |Printing Song Sheets (& Playbooks)|66|47| |Teas: Festive, New Members, Group Leaders|169|71| |St John's Ambulance - First Aid Course||| |Theatre Tickets||| |Misc costs||9| |Yoga & Tai Chi (now in Expenses)||55| |Total Other Costs
_Other Expenses_
Mail Chimp
Website & Related Costs
Other Software
Stationery, Postage costs, etc.
Pcash/Cheques
Food, Tea, etc for Topical Talks
Food: New Members Meeting, Trustees Meetings
Handbook Printing Software
Adobe for Handbook
Printing Ink, Prntng Paper, etc
Printing M'ship Cards, etc
Advertising
Gifts & Sundry
Registered Address Fee
Zoom Pro Video Licences
Survey Monkey (survey software)
Open Day Expenses
Total Other Expenses
Total Other Expenses & Other Costs|1,286
103
299
375
240
17
45
73
76
104
750
115
120
2,317
3,603|968
91
124
351
316
27
143
35
70
120
328
288
1,893
2,861| 9