Registered Charity number I1993 Harborough Welland U3A Report of the Trustees and Flnanclal Statements For the year ended 31 December 2024
Harborough Welland U3A Financlal Ststements For the year ended 31 Dernber 2024 Contents Pa8e Legal and Administrative details Report of the Trustees Independent Examinerf5 report Statement of Flnancial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financlal Activities 13
Harborough Welland U3A Legal and Admlnistratlve details For the year ended 31 December 2024 Reglstered Charfty number 1198093 Prindpal address 46 Bath street Market Harborough Leitestershire LE16 9EL Trnstees Mr D I Webb: Chair Mrs M L Elsome: Vice Chair Mrj Horton.. Vlce Chair MrA West.. Treasurer (resigned 25.3.24) Mr5 C L Heaton- Treasurer (appointed 25.3.241 Mr5 P M C05tall- Secretary Mrs L Reed Mrs E Brett Mr R Davison Bankers HSBC 2-6 Gallowtree Gate Leicester Leicestershire LEI IDA Independent Examiner Mr P Simpson TaxAssist Accountants Myriad House 114 St Marfs Road Market Harborough Leicestershire LE16 7DX
Harborough Welland U3A Report of the Trustees For the year ended 31 December 2024 The trustees present their report together with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions ofAccountin8 and Reporting bv Charities: Staternent of Recommended Practice applicable to charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective l January 20191. OBJEcfivES AND AcllviTIES Charltable purpose The advancement of education, and in particular the education of older people and those retired from full time work, by all means including associated activities conducive to learning and personal development in Market Harborough and surrounding areas. Significant artlvltles The main focus of activities is through special interest groups set up by members coverin8 a wide ran8e of topics and activities: by the members, for the members. Attivities are as diverse as arts, sports and recreation, music, history, foreign languages, current affair5 and wine tasting. Social activities are also organised, Including trips to places of interest, and gardens open to the public. Educational development is thereby malntalned. Public beneflt The trustees have had regard to the guidance issued by the Charlty Commlsslon on publlc benefit and have done so in the continued operation of activities. ACHIEVEMENT AND PERFORMANCE 2024 has been another successful year for Harborou8h Welland u3a. The Membership continues to grow with 201 new Member5 joining during the year and a total Membershlp at the end of the year of 118412023.. 11381. The number of Groups available has remained atjust over 80, with several more being added atthe beginning of 2025. Hwu3a holds two Monthly Meetings, the first on the second Monday of the Month, where we invite a Guest Speaker on various subjects. The other meeting held on the fourth Monday of the Month is a Coffee MorninpJGet Together where Group Coordinators provide the members with Information on their Group's activitles. We organise regular day trips to differentvenues and destlnation5 in England and an annual weekly holiday. These are very well supported with the holiday often being over subscribed. The Garden Group also organises visits to various outstsnding gardens during the sprInsuMmer months. HWu3a issues a Monthly Magazine in both a printed version of 12 pages and an extended onllne edition of up to 28 pages. The printed copy. as well as being available at the two Monthly Meetings, is also distributed to two local Ilbraries and a coffee shop and book shop in Market Harborough. In addition to our Website we also operate a Facebook page, which is updated continually. and videos are regularly posted on our YouTube page, including our Group Coordinators describing the activities of their Group. The Publicity Officer submits regular articles for both our local Paper and Community Radio Station.
Harborough Welland U3A Report of the Trustees For the year ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE {Continued) We have eight Trustees on our Committee including myself, plus a dedlcated Support Team. who undertake a number of non-committee duties. I would like totake this opportunityto thank the Trustees and the Support Team, plus the Group Coof dinators for all their hard work during the year, which has all added to the success and 8rovrth of Harborough Welland u3a during 2024. FINANCIAL REVIEW The net surplus on income and expenditure for the year was £3,39312023: £689), an increase of £2,71yI. The main reasons for the increase against last year are as follows". Membership fee income and Glft Ald There was an increase in membership income to £12,69412023: £11,290) due to both an increase in member levels, both full and a550ciate, to 1,18412023.. 1,138) and an Increase In the annual full membership fee from £10 to £11. Gift Aid received amounted to £1,77612023: £1,531) relatingto 672 {2023: 6021 rnembers. Thinl Age Mattets Ma8azlne In 2023 the ma8azlne was funded by HWu3a, but for 2024 members have paid forthe magazine themselves. This has resulted in reduced costs of approx. £2,600. A refund due from the Third Age Trust for an overcharge of magazines in 2023 was underprovided for in the accounts, resulting in a gain to this year's figures of £367. HWu3a general meetings Meetings are held twice a month, one a coffee get-together and one a speaker meeting. Towards the end of 2023 a £1 charge was introduced for attendance at the speaker meeting to contribute towards the speakerfs expenses. This has been effertNe throughout 2024. Hall hire charges for the meetings increased by IO% In 2024. and also additional rooms were sometimes Used for the get-together meetin&£. Bank Interest Received An HSBC Money Manager Savings Account was opened in June 2024. Interest received has averaged £45 per month, totallins £31612023., £nil). Equipment Purchased All equipment purchased is written off as expenditure in the year of purchase. During 2024 purchases were made totalling £1,484 and a piano was sold for £250, givlng a net cost of £1,23412023: £1241. Equipment added to the Fixed Asset Register totalled £1,133. The purchases related to a microphone for use at meetin85 and a replacement flagpole, and also funds provided to group5 for equlpment (see Resee5 poliLry below) including for canasta cards, a bicycle electric conversion klt, a big letter SCT3bble board, mahjong equipment, quiltin8 wadding and uniforms for the ukulele group.
Harborou8h Welland U3A Report of the Trustees For the year ended 31 December 2024 Interest groups and soclal trlps Group activities and social trips are Self-nded and alm to just cover their cost5. Small surpluses may arise on individual groups, which are ring fenced in the accounts and designated for their future use. The retained surplus on groups, designated funds at the end of the year wès £5,11612023: £5,763). Any surpluses on the social trip5 are released into general funds as sundry income, and any losses will be covered out of general nds. Also, any balances on groups that have closed during the year are transferred into sundry income. During 2024 this amounted to £1,06912023: £nill, The number of groups and social trips ha5 remained constant at just over 80, with a small number closin8 but replaced by new group5. Of the 82 groups in 2024. approximately 35 involve no finandal transattlons: such as walking 8roups, and groups that meet in mernbers, homes or local coffee shops. The groups (includin8 social trips) that do incur monetary transactions have generated £44,81412023: £51,936) of income, with costs of £45,46112023= £49.735). The reduttion in both income and expenditure in 2024 is due mainly to a reduced number of social trlps from 6 In 2023 to 4 in 2024, and lower costs incurred for the Garden trips. Reserves Pollcy During the year the trustees agreed to change the reserves policy to maintain reserves at a minimum of 12 months of regular operating artivity, previously a minimum of 6 rnonths. To utilise some of the excess reserves held, during the year the Committee offered funding assistance to Groups whid) resulted in an uptake of £1.094. Reserves currently cover 21 month5, and it has been agreed that requests for fvndin8 for equipment or special events will continue to be considered. Additionally, a financial forecast has been prepared which supports a decision made by the Trustees to extend the current membership period from l January 2025 to 31 May 2026 for no further charge. Thereafterthe annual membership will run for twelve months from l June to 31 May. This will benefit all members. and the Trustees consider this a good use of some of the exce55 reserves held. sTrucruRE. GOVERNANCE AND MANAGEMENT Governlng 00ment The charity 15 controlled by its document of Constitution, an unincorporated members, association, and a member ofthe Third Age Trust, Recruitment and appointment of new trustees The recruitment and appointment of new trustees is by electlon of members / co-optlng onto the executive committee. Declslon maklng and or8anisatlonal structure Decision making on routlne matters is undertaken by the executive committee. More substantial matters are discussed bythe executive committee (the trustees) and offered for agreement to a general meeting of members. The executlve committee is usually elerted at the AGM and positions are open to all members and subject to restrirtions 85 stated in clause 17 of the charitys constitution.
Harborough Welland U3A Report of the Trustee5 For the year ended 31 December 2024 Rlsk Mana8ement The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. STATEMENT OF TRusfEES RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity {Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incomin8 resources and application of resourtes. including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to: Selett suitable accounting policies and then apply them consistently Observe the methods and principles in the Charity SORP Make judgements and estimate5 that are reasonable and prudent Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity wi15 continue in busines5. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charffcy (Accounts and Reports) Re8ulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity by taking reasonable steps for the prevention and detection of fraud, rnisappropriation and other irregulartties. Approved by order of the board of trustees on 14 March 2025 and signed on its behalf by: lan Webb- Cha
CHARIIY COMMISSION I Independent examinerfs report on the I FOR ENGLAND AND WALES accounts Section A Independent Examiner's Report Report to tho trustses Harborough Welland U3A On accounts for the year ended 31$1 Dernber 2024 Charity no (if any) 1198093 Set out on pages I report to the trustees on my examination of the accounts of the above charity ('the Trust.) for the year ended 3111212024. Re3ponslbllltle8 and basis of report As the charlty's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the charlieS Act 2011 {'the Act°} I rèport in rèspect 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 all thé applicable Directions gtven by the Charity Commission under section 145151{b} of the Acl. Independent I have completed my exarnination l confim that no rnaterial matters have èxamlnerfs statsment come to my attention in connection with the examination which gives me cause to telieve that in, any material re5pect= the accounting records were not kept in accordanGe with section 130 of the Charities Act., or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements ¢onc6ming the form and content of accounts sel out in the Charitles {Accounls and Reports) Regulations 2008 other than any requirement Ihat the accounts give a Irue and fairf view which 18 not a matter consi red as part of an independent examination. ncerns and have come across no other matters in connection amination to which attention should be drawn in this report in nable a proper understanding of the accounts to be reached. Iha lo Signod: Date: 61h March 2025 Name.. Michael Simpson Relevant professional qualification(sl or body lif any): Addr68S: TaxAssist AGcountants Market Harborough Myriad House, 114 St Mary's Road Market Harborough LE16 70X IER Oct 2018
Harborough Welland U3A ststement of Financial Artivities For the year ended 31 December 2024 2024 2023 INCOME AND ENDOWMENTS FROM: Income frorn charltsble activities Subscriptions and charitable activities 62,369 65,708 Investments Bank Interest Received 316 TOTAL 62.685 65,708 EXPENDITURE ON: Charltable actlvltles General 58,932 64,689 Independent Examinerfs fees 360 330 TOTAL 59,292 65,019 NET SURPLUS 3,393 Total Funds brought forward 27,056 26,367 TOTAL FUNDS CARRIED FORWARD 30,449 27,056 The note5 on pages 9 to 12 form part of thesefinancial statements
Harborough Welland U3A Balance Sheet At 31 December 2024 Notss 2024 2023 Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 3.451 36.119 3,314 32,516 39,570 35.830 Creditors- Amounts falling due within one year {9,1211 {8,7741 Net Assets 30.449 27,056 Charity Funds 30.449 27,056 The flnancial statements on pages 7 to 12 We approved by the board ot trustees on 14 March 2025 and were $i8ned on its behalf by. aare Heaton - Treasurer The notes on pages 9 to 12 form part of these financlal ststements
Harborough Welland U3A Notes to the Financial Statements For the year ended 31 December 2024 Accounting Policies Basis of preparing the Financial Statements The financial statements of the charity, which Is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accountlng and Reporting by Charities: Statement of Recommended Practi applicable to charities preparlng their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffettive l January 20191,, Flnanclal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Att 2011. The financial statemenls have been prepared under the historical cost convention. The principal accounting policies set out below are re8ularly reviewed and have been applied nsistently throughout the period. Income All income is recognised in the Staternent of Financial Attivities once the charity has entitlement to the funds, it is probable that the Income will be received and the amount can be measured reliably. Expendltu Liabilities are recognised as expenditure as soon a5 there is a lesal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount5 of the obllgation can be measured reliably. Expenditure 15 accounted for on an accrua15 basis and has been classified under headings that aggregate all costs related to the category. Where cost5 onnot be dlrertly attributed to partitular headings they have been allocated to arttvities on a basis consistent with the use of resources. Tarqible Fixed Asset5 All fixed assets are written off in the year of expenditure at cosL A Fixed A55et Register is maintained, recording details of ttern5 of equipment over £50 that will be in use for more than a year. their initlal purchase price, date of purchase and current location. All assets on the Register are physlcally verified on an annual basis, Taxatlon The charity is exempt from tax on its charitable activities. Trustees. Remuneratlon and Benefits There were no tru5tees' remuneration or other benefits forthe year ended 31 December 2024 nor forthe year ended 31 December 2023. Tru5tees' Expenses The Trustees receive expenses for the reimbursement of c05ts incurred on the charitvs behalf.
Harborough Welland U3A Note5 to the Financial Statements For the year ended 31 December 2024 Tan8ible Fixed Assets Equipment Equipment Computer for use at for use by Equipment event5 Groups Total Cost Transferred from MH and SL U3a's 2022 596 685 2.410 3,691 Purchased by HWu3a 202213 1,400 364 703 2,467 Purchases 2024 390 743 1,133 Total Cost 2,386 1.792 3,113 7.291 Net Book Value At 31 December 2023 At 31 December 2024 The above are included on the Fixed Asset Register. As per the AccountinE Policy, all fixed assets are written off in the year of purchase. Debtors Amounts falllng due within one year 2024 2023 Prepayments Accrued income Other debtors 1,363 1,878 210 2,403 911 3,451 3,314 Cash at Bank and In Hand 2024 2023 Bank Current Account Bank Savings Account Cash in Hand 2.215 32,268 1,636 30,797 1,719 36.119 32,516 io
Harborough Welland U3A Notes to the Financlal Statements For the year ended 31 Dernber 2024 Credltors: Amounts fallin£ due within one year 2024 2023 Trade creditots Accruals Subscription5 received in advance 1,013 453 7.655 478 8,296 9,121 8.774 Movement on Funds 2024 2023 Brought Forward Profit for the year 27.056 3.393 26,367 At 31 December 30.449 27,056 Related party transartion5 There were no related party transactions for the year ended 31 December 2024. Interest Groups At 31 December 2024 there were 82 Interest groups within Harborough Welland u3a. The group5 8re largely self-financing and self-supporting. Group co-ordlnators are asked to make an annual return to the Treasurer. detailing their recelpts and payments. Nil returns are also recorded. All transaction5 are included in the financial statements. If financial problems should arise within a group at any time. these would be reported to and discussed by the commlttee. Monies collected by group co-ordinators will either be paid in part or full into the HWu3a bank account to cover venue rental invoiced to and paid dirertly by HWu3a. Excess monies may be held by the group co-ordinator5 to cover incidental cash expenses. In some cases, monies are collerted on the day of the activity and paid directly to the venue on the same day. All such transactions will be recorded on the group's year end return and included in the Financial Statements of HWu3a. All net income of the groups is designated in the accounts to the groups for their future use. li
Harborough Welland U3A Notes to the Flnanclal Statements For the year ended 31 December 2024 9. Intsrest Groups (continued) Desl8nated to groups 2024 2023 Held in HWu3a Bank account Cash held by groups Accruals for venue hire 3,586 1.592 (621 4,094 1,669 TOTAL 5.116 5.763 12
Harborough Welland U3A Detalled Statement of Flnancial ActlvTtle5 For the year ended 31 December 2024 2024 2023 INCOME AND ENt)OWMETrifs FROM: Income from charltable artlvliles Memberyhip subscriptions Gift Aid received TAM Magazine subscription income Income from general meetings Equipment sale proceeds Sundry Income Income from group and 50¢1al actlvltles 12,694 1,776 60 1.706 250 1,069 44,814 62,369 11.290 1.531 882 51,936 65,708 Bank Interest Re¢elved 316 Total In¢omln8 resour(es 62.685 65,708 EXPENDITURE: re on rharltable artivities Beacon Licence Fee Thlrd Age Trust Capitatiork Third Age Matters Magazine Monthly Meeting Costs Speaker Expenses Newsletter and publlcity costs IT and webslte expenses Networklng & trustee expenses Statlonery & printing Sundry Expenses Bank and card payment charges Equlpment- not on Fixed Asset register Equipment Purchased, added to Fixed Asset register Expenditure on groups and social actlvltles General charitable actlvlty costs 1,079 1,081 4.014 2.650 2,620 466 2,243 360 86 13061 3.214 460 2,083 363 21 304 136 549 351 81 620 20 1.133 45.461 58,932 104 49,735 64,689 Independent revlew of annual accounts Total costs 360 59,292 330 65,019 Net Inwme for the year 3,393 This page does not form part of the statutory financial staternents 13