Dulwich & District u3a
Treasurer's report to the Annual General Meeting on 21 May 2024
The Summary of Accounts included herewith shows the result of our activities in the year 1 April 2023 to 31 March 2024. You will note that we generated an excess of income over expenditure of £5,837. Our day-to-day activities produced a surplus of £1,554, the balance being the Gift Aid.
Our net funds increased over the year from £17,634 to £23,471. The trustees took the view that this level of funds was well in excess of the level that we need to be able to run our usual activities comfortably. So, although the trustees carried out a similar review last year, at which time they decided to hold the subscription rate at £15, the rate has been reduced for the current year in light of the increasing amount of funds that are held by D&D and we have asked you for the lower amount of £10 for the year 2024/25.
You will see from the statement of accounts that we have placed part of our funds into a fixed-term account which pays a higher rate of interest than that available in the ordinary deposit account. The term runs until November 2024. The rate of interest is 3.6%.
We have received two amounts of Gift Aid in the year, relating to 2021/22 and 2022/23. A further claim will be made relating to 2023/24 in due course.
The accounts have been scrutinised by an independent examiner with no direct links to D&D u3a, who has signed to indicate that they are satisfactory.
Ruth Colvin Treasurer 25 April 2024
W
Dulwich & District u3a Summary of Accounts
Income and Expenditure 1 April-31 March
| 2023/24 | 2022/23 | ||
|---|---|---|---|
| £ | £ | ||
| Income | |||
| Membership | 10,890 | 10,133 | |
| Membership Next Year | 30 | 145 | |
| Membership Overpayments | NIL | 70 | |
| Savings Interest | 173 | 31 | |
| Donations | 680 | 212 | |
| Contras for groups | -24 | 138 | |
| Gift Aid | 4,283 | NIL | |
| Total | 16,032 | 10,729 | |
| Expenditure | |||
| Enhancements for groups | 141 | 35 | |
| Gifts & Prizes | 157 | 19 | |
| Festive lunch | 410 | NIL | |
| Software licences | 1,531 | 1,411 | |
| Open meeting expenses | 709 | 804 | |
| Postage & stationery | 263 | 150 | |
| Printing & distribution | 198 | 2,916 | |
| Publicity | 7 | 95 | |
| Room hire | 1,465 | 1,091 | |
| Rosebery Lodge expenses | 447 | 317 | |
| Subscription (capitation) | 2,876 | 2,620 | |
| Sundries | 12 | 45 | |
| TAM magazines | 1,979 | 1,863 | |
| Total | 10,195 | 11,366 | |
| Net Income | 5,837 | -637 | |
| Funds brought forward | 17,634 | 18,271 | |
| Funds carried forward | 23,471 | 17,634 | |
| Balance Sheet | |||
| Current account – Lloyds | 4,776 | 2,977 | |
| Current account – Barclays | closed | 85 | |
| Deposit account – Lloyds | 8,695 | 14,522 | |
| Deposit account – Barclays | closed | closed | |
| 1 year deposit, Lloyds Bank | 10,000 | NIL | |
| Petty Cash | NIL | 50 | |
| Total | 23,471 | 17,634 |
W