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2021-03-31-accounts

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Welcome to the Annual Report of The Third Age Trust

From the Chair and Chief Executive Officer

The year under review coincides almost precisely with the start of COVID-19 lockdown in March 2020. The challenges faced from the pandemic have not dampened the u3a spirit. From across the movement, members, committees, Trust Volunteers, the u3a office staff team, trustees and board members have worked tirelessly together to maintain activity and connection. The u3a community has embraced digital – using new ways of connecting with each other while face to face has not been possible.

Our movement has worked hard to stay connected and active during a period of restricted contact. A milestone was the first virtual Trust AGM last September. The opportunity to provide accessibility to the AGM for members across the UK will not be lost as we are now planning future meetings as a hybrid of the physical and virtual.

Throughout the year, the Trust’s staff team have supported u3as: National workshops have been moved seamlessly online; constantly changing four nations COVID-19 and virtual AGM advice has been provided to u3a Committees, and members have been supported in using technology to move relevant u3a activities online.

National learning programmes, with organisations such as the National Gallery and the National Army Museum, have been developed with engagement from hundreds of members from across the movement - far more than was possible with physical meetings.

Online Summer and Winter Schools have similarly reached a wide audience.

Without doubt an impressive statistic in this report are the 300 plus Trust Volunteers, supporting the work of the movement and sharing their skills and expertise.

Volunteers have worked in areas as diverse as our IT systems such as Beacon, the Trust Upgrade and Sitebuilder; on our Learning platforms - from Summer and Winter School Tutors to our Subject

Advisers; in Communications , moderating our social media channels and raising the external profile of the movement; in Advice , delivering training workshops; in Governance by developing Trust policies; volunteering as u3a committee members or by sitting on the board of directors of both the Trust and the trading company.

Last but not least, through more than 40,000 interest group facilitators – the “beating heart” of our movement.

The Trust has benefited from the vast reservoir of career experience that exists within a membership of around 400,000, thereby ensuring grassroot opinions are fully heard.

National committees and working groups now contain significant numbers of members with the required specialist knowledge obtained during their careers. The recent rebranding of the u3a logo and publicity material was delivered at low cost because of our members advice and expertise.

Third Age Trust Trading Limited (TATTL) has partnered with Brand IQ to provide members' with u3a publicity material and branded products, including clothing, via a new online shop.

A Click and Save scheme has been launched allowing members to make savings from money spent in retail outlets across the UK.

It is expected that TATTL will provide other benefits to members in the coming months and decisions in this regard will only be taken after consultation with members and are consistent with maintaining the good reputation of the Trust.

During the year Third Age Matters, the Trust’s house magazine, has been given a fresh design under a new Editor. More members are signing up for the monthly national online newsletter and there has been greater use of the Trust’s social media platforms.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

400,000 members across the UK

40,000+

interest group facilitators

300

plus Trust Volunteers

The Keeping in Touch Facebook page has proved a lively platform for members to come together regardless of geographical boundaries and constructively share experiences and ideas.

All our communication channels reflect the vibrant voices of members and keep members up to date with the latest news and information.

Our members report the benefits of being part of the u3a model include confidence building, feeling supported, learning new skills and combatting loneliness.

To ensure the membership reaches a wider public, the Trust is establishing a coalition of common interest with those UK organisations that share our charitable objective – recognising the significant contribution members make to communities across the United Kingdom.

One of the aims of this initiative will be to develop a platform that presents a positive message around ageing – of which our members are an exemplar.

Early in the pandemic, Trust u3a was launched so that members of the public could experience virtually what physical membership offers whilst their local u3a was closed. Due to its success Tu3a will form part of an increased online learning offer provided in the future by the Trust.

Although, during the coming year, implementation of the Trust’s medium-term Development Plan will continue, increased emphasis will be placed on a Strategic Plan to address the anticipated long-term impact of COVID on the u3a movement.

Running in parallel, will be the development of a Digital Strategy for the Trust which will include plans for Beacon (our membership management system).

To assist in this objective, the Trust launched a campaign Member Link and, together with volunteers from the membership, a Retention and Recruitment Toolkit.

Thank you for reading our annual report and accounts and we hope it demonstrates how seriously the board takes its fiduciary responsibility to oversee the Trust resources. Board members, using their wide career experience and service to the movement, ensure that the u3a guiding principles remain at the heart of all decisions.

As the movement prepares to celebrate its 40th Anniversary in 2022, the Trust recognises that, while it will be facing unprecedented challenges for the year ahead, the u3a movement is in a strong position to take on those challenges and move forward. u3a is unique in having members with diverse talents and skills who have shown their willingness to share ideas and experiences ensuring our strapline of learn, laugh, live remains as relevant post pandemic as it did prior to March 2020.

Ian McCannah Chair

Sam Mauger Chief Executive Officer

Underpinning all these developments over the last year is the aim to retain existing members and to recruit new ones. We want to ensure that the movement remains vibrant and relevant to the next generation.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Reference and Administrative Details

The Third Age Trust

The Third Age Trust is a company limited by guarantee (01759471) incorporated on 6th October 1983 and registered as a charity (288007) on 14th November 1983. It has a subsidiary trading company named Third Age Trust Trading Limited (11899419) incorporated on22nd March 2019 and which commenced trading on 1st April 2019. The purpose of the trading company is to further the aims of the Trust.

Directors/Trustees 2020/21

Officers

Ian McCannah, Chair (Elected 30th August 2018)

Hilary Jones, Vice Chair (Elected 30th August 2018)

Richard Teare, Treasurer (Elected 30th August 2018)

Regional Trustees

John Bent, London (Elected 29th September 2020)

The Board of Trustees

Members of the Board of Trustees who held office during the financial year 2020/21 are listed in this report.

National Office

Company Secretary/Chief Executive Sam Mauger

Registered Office

Unit 104, 156 Blackfriars Road, London SE1 8EN

Professional Advisers

Auditor

Haysmacintyre LLP 10 Queen Street Place, London EC4R 1AG

Bankers

Barclays Bank PLC 188 Clapham High Street, London, SW4 7UF

Insurance Brokers

Arthur J. Gallagher Goodridge Court, Goodridge Avenue, Gloucester, GL2 5EN

Susie Berry, South East (Elected 29th September 2020)

Barbara Cordina, East of England (Elected 29th September 2020)

Valerie Cobain, Northern Ireland (Elected 29th August 2019)

Margaret Fiddes, Yorkshire and the Humber (Elected 29th September 2020)

Jean Hogg, East Midlands (Elected 30th August 2018)

Ann Keating, Scotland (Elected 29th August 2019)

Susan Parker, South West (Elected 29th September 2020)

Sandi Rickerby, North East (Elected 29th August 2019)

Neil Stevenson, North West (Elected 29th September 2020)

Chris Winner, Wales (Elected 30th August 2018)

Allan Walmsley, West Midlands (Elected 29th September 2020)

Jeff Carter, (Co-opted until 26th August 2021)

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The Third Age Trust Annual Report and Accounts for the period ended 31 March 2021

Contents

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Photography by
Alex Svenson
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Welcome 2
Trustees’ Report 6
Strategic Aims 12
Regional Reports 16
Review of Financial Activities 24
Statement of Trustee Responsibilities 26
Independent Auditor’s Report 28
Consolidated Statement of Financial Activities 30
Charity and Group Balance Sheets 31
Group cash flow statement 32
Notes to the Financial Activities 33 - 43

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Trustees’ Report

Introduction

The trustees submit their consolidated reports and financial statements for the year ended 31 March 2021. The financial statements relate to The Third Age Trust, registered as a charity [288007] and company limited by guarantee [1759471] and its subsidiary trading company Third Age Trust Trading Limited [11899419]. The accounts have been prepared on the basis of accounting policies set out in note 1 to the financial statements and comply with the Articles of Association of each company, applicable law and the requirements of the Charities Statement of Recommended Practice (SORP) FRS102 and the Companies Act 2006.

Structure, Governance and Management

The Third Age Trust [the Trust] is governed by its Articles of Association adopted on 21 March 2018 and amended on 29th August 2019 and 10th December 2020. Third Age Trust Trading Limited [TATTL] is governed by its Articles of Association adopted on 22nd March 2019. The operational relationship between both entities is defined in the accountability document that relates to both entities and accompanying terms of reference.

The Board

Under the Articles of Association, the Board consists of three officers, a Chair, Vice Chair and Treasurer, each elected for a term of three years, and twelve regional trustees each elected for a term of three years from nine English regions and three devolved nations; Northern Ireland, Scotland and Wales. Regional trustees have the opportunity to stand for election for two further terms of one year. The trustees have the power to co-opt three additional national trustees. One trustee was co-opted until 26th August 2021 to lead on governance.

Trustees do not receive remuneration or any other personal benefit from the activities of the charity.

Organisation

The activity of the Trust is founded on the guiding principles of the University of the Third Age movement. These are:

The Third Age Principle

The Self-help Learning Principle

The Mutual Aid Principle

During the pandemic the Board took the decision to meet remotely, using real time videoconferencing, on a monthly basis to ensure it always had the most current information concerning the impact of the pandemic on the movement. The Board receives reports and recommendations from a number of sub-committees and working groups that allow the Trust to fulfil its objectives. The number of remote working groups increased during the pandemic to focus on fulfilling the needs of the membership during this unprecedented period. Membership includes both Trustees and members drawn, for their expertise, from the movement. The Board is attended by the Chief Executive Officer,

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

A team of over 300 volunteers working to support u3as is co-ordinated by the Trust; their work experience and knowledge is vital to meet the needs of the movement. A range of online learning events, workshops and programmes is delivered to support the focus on self-directed peer-to-peer learning. u3a members are at the heart of all decision-making.

who is also Company Secretary, in a non-voting capacity and from time to time the senior managers from the u3a Office staff team.

The Trust arranges its affairs through a wide range of committees, boards and working groups with the aim of benefiting from the vast range of career expertise within the movement. They are the Beacon Project Board, Communications and External Affairs Committee, Future Lives Group, Development Committee, Beyond Lockdown Working Group, Recruitment Working Group, Diversity and Inclusion Committee, Finance Committee, Governance Committee, International Committee, Learning Committee, Content and Resources Action Committee , Research Committee, Ethics Working Group, Shared Learning Projects Committee, Network Link Committee, Supporting the Movement Working Group, TAM Editorial Board, Third Age Trust Trading Limited and the Trust Development Plan Steering Committee. All of these have continued to meet remotely during the Covid-19 pandemic.

Third Age Trust Trading Limited (‘TATTL’) has a board of directors all of whom are appointed by the Trust Board. The Trust Board’s policy in making those appointments is to create a TATTL Board where the majority of the Board membership comprises three members of the Board of Trustees of The Third Age Trust and the Trust CEO. The remaining three members of the board, including the Chair of the trading company, are appointed from the u3a membership. TATTL meets at least five times a year and has met remotely during the Covid-19 lockdown.

The u3a staff team provide services and support to u3as. Led by the Chief Executive Officer, there is a team of 18 staff, in a mix of full-time and parttime roles, who have all worked remotely during the pandemic. An advice service is provided covering organisational and operational matters, managing the impact of Covid-19, constitutional changes, insurance queries and financial matters. Working with a team of volunteers a programme of online training workshops, including accessing virtual platforms, was designed.

Trustee Induction

All new Trustees are provided with a mentoring arrangement and are paired with an existing Trustee on the Board.

The Trustees have a full induction, which includes, their legal obligations under Charity and Company Law, the governance structure of the charity and company and their specific roles and responsibilities.

In addition the new Trustees attend an introduction to the operational aspects of the services provided by the Trust and the finances of the charity.

Trustees have the opportunity to pose a list of items for updates on topics for information to the Vice Chair. These items are covered at the following Board meeting. In the absence of the opportunity to meet face-to-face the Board have had virtual social support meetings outside of Board meetings.

The Trust takes its governance responsibilities very seriously and commissioned a governance review of current practice with the aim of strengthening and embedding best practice, and to lay out clearly- delegated responsibilities. This review will be presented to the July 1 Board meeting.

Pay Policy for Senior Staff

The pay of the Chief Executive Officer, senior managers and staff is reviewed annually by the Officers of the Trust, taking into account remuneration of equivalent roles in similar charities, together with the performance of each staff member. This has been considered very carefully in 2020/21 to take account of the pressures resulting from Covid-19.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Trustees’ Report

Risk Management

The Trustees have a risk management strategy which comprises:-

Risk Impact of Covid-19

The Trust updated its Covid review in October 2020 and January 2021, continues to review the impact of the pandemic and has also evaluated the impact of Covid-19 on the year ahead.

The Trust has continued to provide a range of support to u3as. Advice on how to manage the extensive range of interests and activities during the various stages of lockdown and reopening, tailored to the nations and islands, has been regularly updated. This has also included advice on risk and on insurance cover.

A programme of workshops supporting u3as to use online platforms has been provided using the skills of a range of Trust volunteers to provide the member to member experience. Best practice from u3as for managing contact and learning has been shared across the movement, and a suite of tools has been established for u3s to manage and encourage new membership post lockdown.

The requirement for continued focus on efficiency and resourcing to meet changing needs will be paramount. Social media use has been extended with a strong Facebook support community. The Trust has remained vigilant in terms of understanding the needs of u3as and their members, and the changing and widening levels of support required, as the future for the u3a movement emerges.

The movement has had as its operational model, peer-to-peer learning largely undertaken in u3a members’ homes or community buildings. The pandemic impacted significantly on this model from March 2020 onward.

Many u3as were able to use online virtual meetings to replace the face-to-face activity during lockdowns across the nations, and also to provide social and wellbeing support to each other during lockdown. Others used telephone and newsletters to keep in touch.

Separately, many u3as were vocal in expressing how adaptable individuals had been with adopting virtual meeting platforms. Many developed support mechanisms for those who felt unable to move online, focusing on inclusion, and ensuring isolated members remained part of the u3a community. Inevitably, however, some u3as did not feel able to manage the level of upheaval and change during this period.

The review identified the u3as that were able to open and the extent of their activities over this period. As time progressed u3as became confident using online methods of running learning activities, meeting and providing mutual support, and used a range of innovative means to meet and support each other offline.

Many u3as developed support mechanisms for those who felt unable to move online, focusing on inclusion, and ensuring isolated members remained part of the u3a community.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

In mid-2020 members were consulted about their views on the impact of the pandemic on the movement and the measures that would be needed to be put in place after the end of lockdown. The summary paper was released to the membership in the autumn and it was the basis for a presentation at the EGM.

Throughout the pandemic the Trust has reforecast its finances, and trimmed expenditure to ensure that it can manage the following two years prudently.

One of the legacies of the lockdown for the Trust, is how to embed both face-to-face activity and online learning into the u3a model. The Trust must now ensure that those members who are not digitally connected are still enabled to participate, while also remaining relevant for existing and new u3a members who wish to develop further their online u3a learning communities.

While the Trust wants to ensure that it continues to support the membership and continue with the level of service support provided, the main risk to the Trust is a fall in its main source of income, the membership subscription. This is the key risk the Trust faces, membership numbers are expected to fall by between 17-20%, this year.

The lines of business within the Trading Company have been under close examination. Each line of business has a committee focusing on the development plan for that business element. The upgrade to the Beacon service as well as the take up of the Third Age Magazine remain under regular scrutiny.

The plans for the Beacon upgrade received a major setback when the chosen contractor was unable to deliver the product requirements. This was considered to be a key risk in 2021. The current service has been provided with resourcing to enable it to meet the demands of the movement while the future Beacon service is planned.

The Trust and Trading company has focused on using the failure of the delivery of the Beacon upgrade as an opportunity to develop a full digital strategy for the Trust, encompassing the Trust services and the Beacon programme. The future impact of Covid-19 on all lines of business rolling into 2022 is considered to remain a potential key risk and therefore will remain under close review.

The Trustees consider the other key risks to be the upgrade of the Trust systems and the development of the Beacon upgrade.

Public Benefit

The Trustees ensure that they use Charity Commission guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. The Trustees ensure that all planning and resourcing of activity is to further its charitable objective:

“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”

The Trust's activities produce identifiable benefits to third agers (people retired from full time work) throughout the United Kingdom by increasing and widening the opportunities for informal adult learning and social and mutual support. During the pandemic public benefit continues to be achieved through the strengthening of the u3a communities’ local response to provide mutual and reciprocal support.

The future impact of Covid-19 on all lines of business rolling into 2022 is considered to remain a potential key risk and therefore will remain under close review.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Aims

The aims of the Third Age Trust are to:-

support learning in u3as and promote the benefits of self-help learning

facilitate the growth of the u3a movement throughout the United Kingdom

provide advice and support for management in u3as

As the impact of the pandemic continued during the last 12 months the Trust has reviewed the service offer to u3as. This broadly covered the areas of supporting the local u3a’s trustees to manage their legal requirements, supporting u3as with conducting their charitable activities virtually, supporting u3as to meet face-to-face when restrictions allowed, in keeping with the guidance and legislation in each territory, and sharing experiences and good practice through online forums and social media.

During the year the Trust began a detailed review of its current internal and external services. This programme is still continuing and the aim is to ensure that the Trust remains highly effective and cost efficient.

Early in 2021 the expected new and upgraded membership management system programme for u3as, Beacon was disrupted, as previously mentioned. This unexpected setback enabled the Trust to consider the digital requirements of the organisation as a whole, including the internal digital requirements of running the Trust as a charity.

After taking external expert advice it was agreed that a new digital strategy be developed for the Trust. This would lay out a clear workplan with milestones and deliverables enabling the charity to futureproof all of its functions and services to meet changing demands and needs.

raise the profile of the u3a movement throughout the United Kingdom

Separately, the Trust reorganised the Internal Services and Policy and Communications departments to ensure the roles met the future needs of the organisation.

Given the changed nature of the future landscape as a result of the pandemic the Trust is developing a strategic plan to cover the next three-year period. A visioning session has been undertaken with the current Board to identify the challenges and opportunities, and it will use the vision document as the basis for planning the detail of the future strategy. The Trust wishes to demonstrate measurable outcomes and impact from its future strategy which clearly lays the footprint for the movement in the years ahead.

Third Age Trust Trading Limited (TATTL) the wholly owned subsidiary of the Trust has developed and strengthened the lines of business entrusted to it –Beacon, Third Age Matters, Click and Save, Merchandise and the Anniversary Wood. TATTL has been acting to ensure that the trading activities meet with ICO, HMRC and Charity Commission requirements. TATTL continues to consult with the membership about the development of additional products and services, and expects to expand the range available to members in the year ahead.

The Trust has four strategic aims that shape its services and offer to the members. These will remain central to the strategic plan in development. Below are details of associated achievements and future plans.

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The Third Age Trust Annual Report and Accounts for the period ended 31 March 2021 u3a Eye
u3a photography challenge
Top image:
Credit Sue
North Cotswold u3a
Bottom image:
Tony
Warrington u3a
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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Strategic Aims

Strategic Aim 1:

support learning in u3as and promote the benefits of self-help learning

Progress in the development of learning across the u3a movement was shaped by the 105 learning recommendations outlined in the Learning Working Group report which was published in Summer 2020. This, combined with the impact of the pandemic, which fast-tracked the move to developing online informal learning and resources, has shaped the learning programme to date, and the learning aspirations for the future.

There have been three key areas of development.

First, the Trust has supported the development and capacity of u3as to meet together and learn online. This has involved training and support sessions on using virtual platforms, and support in developing and choosing online materials. Key to this has also been providing advice on copyright when sharing learning materials.

Second, the launch of the online national programme of learning events, open to all members, was aimed at ensuring all members had the opportunity to participate in learning when the pandemic interrupted their normal interaction with fellow u3a members.

As well as learning sessions, several learning events were created, including a highly successful annual creative writing competition in partnership with Bloomsbury; a poetry competition; a fortnightly photography challenge; and a weekly maths challenge.

In addition a range of online learning collaborations were launched, some focused on physical activity such as yoga and cycling, whilst others included sessions named “Paint or Draw”, “BirdWatch”, “Cuisines of the World” and “Battle of Britain stories “.

Using the experiences and views of members participating in the first of these programmes, the national learning programme has continued and evolved, with Winter, Spring and Summer programmes. These include programmes of talks, workshops, webinars, debates and activity sessions delivered by members for members.

Sessions are now routinely available to 500 members each, with repeats of many sessions timetabled. This has resulted in the website Learning pages now receiving more than 20,000 hits a month.

Third, The Trust has had long experience of running events with renowned organisations, and during Covid we moved from physical meeting to online events. A programme of collaboration that included working with the British Library, the David Livingstone Birthplace Project, the National Gallery, Southwark Cathedral, the National Trust, and the Wildlife Trust to name a few. These collaborations opened up these events to many more people who are able to participate online.

To complement the Learning programme a set of “keep learning” bulletins gathering insights and ideas from u3as across the movement was produced.

Supporting u3a learning is the team of volunteer Subject Advisers who offer advice and information, many of whom update subject based material. There are now advisers covering 85 different interest group topics.

The Trust is currently working with u3as to test pilots of online cross-boundary interest groups and initiatives, including Speaker Swaps for British History and Egyptology; Bridge and chess; amateur radio broadcasting; start a cycling network.

The Shared Learning Projects, a particular model of participative learning between u3a members and external bodies, had some hugely impactful programmes. The Diary Project, (now hosted by the Mass Observation Project) resulted in a book, “In Time of Corona” being published, containing examples of the experiences of members who had kept a diary during the first lockdown.

The u3a High Street Project is the first large scale national research project that relied on a level of digital collaboration not previously seen across u3a regions and devolved nations. Its launch date in August coincided with a brief easing of lockdown restrictions, after which more than 500 volunteer surveyors from over 200 u3as carried out surveys of their High Streets in September 2020.

The success of the project has largely been due to digital engagement and communication, demonstrating that projects rooted in digital communication can result in u3a learning communities emerging across the UK.

Plans for the Future

The pandemic has fundamentally changed the way that many members access learning materials and learn within their u3as. In response to the move online for many, we have launched a comprehensive programme of national learning events which are regularly updating,

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

and an ongoing programme of online talks, workshops and interactive sessions, available to all members. This offers members the opportunity to engage in a wide variety of areas of interest.

Following this success, the learning actions for the coming year include the expansion of the variety of online talks delivered by members, and to use these events to seed interest groups in different u3as. The Trust expects to launch and expand cross-u3a networks for linking different interest groups, e.g., cycling, bridge, chess, etc., which are in progress currently.

The Trust will continue to offer a changing programme of national events in partnership with members. It will also expand the learning resources, with signposting to resources that demonstrate best practice that are current and relevant. The continued expansion of the Shared Learning Project is continued with Slow Ways being the first major collaborative programme for the coming year.

The Trust is also working to launch the online learning hub as a repository of information and resources for u3as going forward. It is planned to recruit Subject Advisers for popular interest group areas and expand our support for interest groups through revised Subject Adviser and group leader resources (Handbooks) and Subject Adviser meetings.

Finally, the Trust will continue to promote the learning programme through the u3a radio podcast channel.

Strategic Aim 2:

provide advice and support for management in u3as

The Trust has needed to respond to the changing guidance from the government and has provided nation-specific advice on running u3as throughout the different stages of lockdown over the last year. The advice, which includes support around risk assessments and participation in sporting activities, ensured that u3as who wished to resume some face-to-face activity in permitted times, were able to do so safely and legally.

The advice line and email enquiries to the Trust continue to take hundreds of phone calls and email queries each month, answered by the small, dedicated staff and volunteer team.

The pandemic has also highlighted the need to provide support for a membership, where many were embracing new technologies for the first time. Consequently, the Trust has focused on digital upskilling, providing a range of online skills workshops, with topics including; introduction to Zoom; how to run hybrid meetings, and using social media. We have partnered with Barclays Digital Eagles and Clicksilver to provide webinars and one - to - one, mentoring to help support members online.

Our workshop programme has been expanded to include a wide range of operationally focused workshops that have been developed, co-ordinated and delivered by a dedicated team of volunteers. These include GDPR, safeguarding, inductions for new committee members, and many more. We have increased our information to include frequently asked questions on topics as the pandemic has identified these as issues, such as insurance, finances and constitutions.

A new model constitution for each nation has been developed with our legal advisers to include clauses allowing meetings to be held electronically, ensuring that u3as can ‘futureproof’ if the need arises again. We continue to work with the relevant Charity Commissions to ensure u3as remain compliant after the regulatory exceptions during Covid are removed in the future.

The importance of Networks as a vehicle to encourage u3as to share experiences has long been seen as important and the numbers of u3as participating has increased greatly due to the option to meet online. Network Link brings together representatives from the networks of u3as to support new opportunities for collaborative working and thinking. In June we held a week-long programme of events for Networks to support and promote these important links.

Plans for the future

The Trust has developed a range of advice during the Covid months which have been complimented with a Recruitment Toolkit, post lockdown support advice and the general operational requirements. These are all being reviewed to ensure there is no overlap. The Trust also intends to review the information needs of the membership with u3as so that information gaps can be identified and new information prepared and distributed based on the needs of u3as. The current information on the website will also be reviewed and realigned. A full package of online workshops based on the essentials required by u3a committees will be completed.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Achievements

30,000

TAM magazine continued to attract the readership from the membership with a circulation of over 200,000 households, while the newsletter monthly circulation has reached over 30,000.

Networks have been recognised as being an important way for u3as to connect and communicate with each other. Working with networks to support communication is seen as a priority for the Trust and Network Link meetings will continue as a way of strengthening the relationship between the Trust and networks.

A full and regular induction and training programme for Trust Volunteers will be updated and the new role of PR adviser strengthened. A code of conduct for all volunteers will be part of the training process. It is hoped to reintroduce a target of 20 new u3a communities for 2022.

Communication with informal learning groups outside of Great Britain such as u3a in Spain and Australia has continued. To support this communication a focus on international work will be developed in development and learning strands of activity.

The information service capacity will be increased by recruiting additional advice line volunteers. The service will also develop service standard levels in consultation with u3as, and is aiming to identify an updated advice recording mechanism for implementation.

Building on the success of “Volfest”, see below, the Trust will also prepare for the quality mark Investors in Volunteers.

Strategic Aim 3:

facilitate the growth of the u3a movement throughout the United Kingdom

The Member Link programme was launched in October 2020, and brought together in one place the collective ideas, innovations, resources and experiences available to u3as to face the pandemic and rebuild and strengthen the u3a community. The Trustees each collaborated with their regional teams of volunteers to liaise with every u3a in their region or nation to highlight the resources available for all members, including those not online.

The aim was to check how each u3a was progressing during Covid-19 and offer bespoke support where needed, in order to try and reach every member, including those not online, as well as providing a point of contact in the future, if and when needed. The programme was very successful and was the first pan-u3a programme of its kind.

A recruitment and retention toolkit providing over 22

separate tools and ideas was developed by a team of Trust volunteers. This has been sent to all u3as and will continue to be used as the restrictions of the pandemic lift and it is possible to encourage wider face-to-face participation as well as online entrants. This complements advice developed by the Trust to support the day-to-day challenges of running a u3a during the pandemic.

An extremely successful week-long training and support event for Trust volunteers, “Volfest”, was introduced, celebrating the breadth of volunteering across the Trust and offering a range of workshops to Trust volunteers. A week of events aimed at supporting Trustees in u3as across the movement was also successful and a similar event, “Netfest”, is planned for u3a Networks.

The launch of u3a Radio Podcast for members, and to raise awareness of the movement more widely amongst the membership, has been widely appreciated, with broadcasts included on Christmas Day and New Year’s day as well as monthly programmes.

Plans for the Future

Growing and strengthening the movement is being seen as a priority as u3as begin to regroup after the pandemic. Central to this will be supporting u3as to use new ways of conducting learning groups, monthly meetings and committee meetings that offer simultaneously face-to-face and online access. The toolkits produced with the Recruitment and Retention programme and the Member Link programme will be used as part of a programme of renewal.

A digital strategy programme is planned to enable the Trust and its subsidiary trading company to ensure that both the online services offered to u3as and the internal resources of the Trust are well placed to meet the requirements of the post-pandemic digital world.

The very successful “fest” weeks will be repeated in the year ahead. Volfest and Trustee-fest proved to be popular and successful. Both are a good mix of celebrating contribution to the movement and learning more about roles and opportunities. These two weeklong events along with Netfest are expected to become regular calendar events.

Collaborations with other community organisations as part of the 40th anniversary will also be encouraged to spread the u3a message of opportunity and contribution, while the network of PR advisors will work with the regions and nations of the Trust to embed the name and influence of u3as in local communities, through links with the media and local organisations.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Strategic Aim 4:

Raise the profile of the u3a movement throughout the United Kingdom

During the last year significant effort has been put into raising the profile of the movement. The charity has focused on developing a number of partnerships with external organisations. Bloomsbury Publishing has supported the Creative writing competition this year. NatWest have provided a range of talks to our members on subjects such as scams and also supported us in getting the u3a message out to the wider public. Independent Age have partnered with us and provided our members with access to their health and social care advice line.

The Trust has developed their campaign Push Back on Ageism and has been calling for a society where age is not seen as barrier or a burden. The Trust developed some research focusing first on ageist language and then on assumptions made about age and dress. Both received a wide range of press interest, radio and a TV mention and has allowed the charity to demonstrate the importance of seeing people in retirement as contributors, and to challenge the deficit narrative.

The Trust collaborated with the Centre for Ageing Better on a toolkit aimed at challenging ageism, which was launched on u3a day.

The Trust has also worked with the Design Age Institute to garner the views of members on what a good laterlife looks like. They have agreed to reference to the u3a, any members’ views published in their newsletter or on their website, including the use of the u3a Logo.

An initiative known as Reimaging the Future in Older Age has been working with u3as in Scotland to write significant parts for older adults in plays and have them performed.

A series of workshops presenting the Euro Ageism Research to u3a members by students from the EU examined different aspects of ageism.

A potential partnership has been discussed with the Age Activism Network, who are developing an initiative to be known as Platform 60, with the aim of amplifying diverse older voices and challenging age discrimination.

The Trust continued to develop their partnership with Voice Global who have provided an online space for u3a discussion.

Separately the Trust has had some success with highlighting the u3a as a positive experience in retirement in the newspaper press with the Times, Mirror and Express.

A number of celebrities have supported the Trust during the last year. Mr Motivator developed a range of u3a focused fitness classes, Diana Moran (the Green Goddess) and Esther Rantzen both contributed to our magazine (TAM) and June “The Archers” Esme Young, one of the judges on the Great British Sewing Bee, presented to u3a members across the movement on u3a day.

The Trust maximised the use of the new brand across all materials including marketing materials and merchandise, and this fresh new look is being used to promote the energy of the movement. Social Media reach has increased in all channels, YouTube subscribers have increased to over 3,000 and the Trust has also introduced an Instagram account.

A range of films to promote the u3a message internally and externally were produced during the year including “u3a life in lockdown” and “what is u3a”. This medium is very successful in promoting the u3a message of learn, laugh, live. Further films are planned.

The Trust took the opportunity to contribute to external conferences and events regionally and nationally to promote the movement as well as contributing to a range of policy consultations.

TAM magazine continued to attract the readership from the membership with a circulation of over 200,000 households, while the newsletter monthly circulation has reached over 30,000.

The Trust asked each region to identify a volunteer PR Adviser and has offered training and support to those who have come forward. They have been instrumental in getting coverage for u3a activities in the local press and media in their areas.

Plans for the Future

The charity intends to continue to build its reach in its social media profile and to fill the LinkedIn gap in the social media portfolio. A round-table to further our Pushback on Ageism partnerships is being planned, when it is hoped that other charities will combine with the Trust to collectively combat Ageism by challenging the narrative, assumptions and discrimination based on age.

The Trust will identify ways to contribute to the creation of age friendly environments, in particular Age Friendly Cities and Towns, as identified in the WHO’s recommendations for the Decade of Healthy Ageing. The Trust will also undertake research to identify issues affecting well-being in older adults and to foster positive ageing.

Working with PR advisers, the Trust will support the development of relationships with press and radio. Work to develop relationships with commercial sponsors through their corporate social responsibility strategies to assist with spreading the u3a message will be investigated.

To support the work of extending the profile of the u3a the Trust will be aiming to develop relationships with high profile ambassadors. The 40th anniversary celebrations will be used as an opportunity to raise the profile of the u3a message of positive ageing and its hoped to be able to enjoy our second u3a day this time unfettered by any pandemic restrictions.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

400,000

The Trust has benefited from the vast reservoir of career experience that exists within a membership of around 400,000, thereby ensuring grass root opinions are fully heard.

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Scotland
Northern Ireland
North East
Yorkshire &
the Humber
North West
East Midlands
Wales
West Midlands
East of
England
South West
London
South East
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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Regional Reports

East of England

We have 140 u3as in the region which covers Bedfordshire, Cambridgeshire, Essex, Hertfordshire, Norfolk and Suffolk, geographically a fairly large area.

This year has been very successful and productive, despite pandemic restrictions. Our first task was to set up a Regional Support Team of Trust Volunteers, which we quickly achieved. Additional induction training was provided as required. This team has proved invaluable and has greatly enhanced the assistance and support we are able to offer. We are now looking to increase the size of the team to provide more support to our u3as, particularly in the areas of IT and PR advice.

With the help of our current PR Adviser, we set up a monthly newsletter with a new energetic approach that has proved very popular. It is aimed at all u3a committees and their memberships so has a very wide coverage. We are currently working on enhancing our website to bring it up to date.

We have run several zoom presentations which were very well supported by all our u3as. Representatives from 70% of our u3as have attended at least one such event. We have been concentrating on presentations which assist committees with their workload and are now moving on to introduce some which will be of interest not only to committee members but also their memberships. There is no charge to the u3as for any of these services and membership of the region comes free.

We were heavily involved in the Third Age Trust Member Link Initiative and our team made contact with all u3as across the region to offer help and assistance, or an opportunity to chat. This involvement will continue in the year to come, as it is of mutual benefit to us all.

We shall continue to support our region to the best of our ability and are looking forward to meeting many members face to face when the current COVID restrictions are removed.

Barbara Cordina, Trustee for East of England

East Midlands

There are 116 u3as and 7 Networks in the East Midlands. Two u3as have merged and one has become a full member of the Third Age Trust. u3as rose wonderfully to the challenge of the last year, slowly increasing their activities and contact with members in interesting and innovative ways. One u3a delivered hyacinths to everyone for Christmas! Most u3as are now holding virtual meetings and looking ahead to being able to meet face to face, whilst considering alternative ways of organising meetings. Many members have found benefits in the online world that need to be maintained.

Networks have provided invaluable support, moving to virtual meetings as soon as it was clear how long the situation would last. The exchange of information through meetings and newsletters has been much appreciated. There has been growth in the number of Peer Support groups in several Networks and nine u3as are part of the Pathfinder group, finding ways to increase recruitment.

The planned conference could not be held, but a virtual event ‘Going Forward together’, was held in October, attended by over 80 people. It is hoped to hold a face to face conference at the end of September.

A Regional Support team has been developed, made up of experienced Trust volunteers, to help the Trustee, who is extremely grateful to them. So far the team has only met virtually but everyone has worked together in the Member Link project, contacting all u3as in the Region to thank them for all their hard work and to offer further support.

The Trustee finishes her term at the AGM and wishes to thank everyone for the support and encouragement she has received during an enjoyable and interesting three years.

Jean Hogg, Trustee for East Midlands

u3as rose wonderfully to the challenge of the last year, slowly increasing their activities and contact with members in interesting and innovative ways.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Regional Reports

London

The pandemic hit the u3a movement very hard. For many of our members their u3a provided learning opportunities, social contacts and physical exercise. Initially, most of these activities were suspended.

The resilience our u3as displayed and the speed with which they adapted to using online opportunities meant that very soon into lockdown many groups were meeting virtually. Not only learning and discussion groups but exercise classes, virtual walks, online talks and monthly meetings all held online meant that most u3as had a good percentage of their curriculum available for members. Indeed, many members who had not regularly attended meetings found online events more accessible and attendances have increased. Members without online access have not been forgotten, u3as having set up support groups and mailing printed updates to keep all in touch.

The results of the Trust’s national survey into u3a activities during the pandemic showed London had 80% of u3as “Open” with a further 12% partially open – the highest percentage of any Region.

Our regional Network, The London Region of u3as, has offered advice and support and made their online facilities available to London u3as for larger meetings.

The Peer Networks for various roles have continued to be a great success, not only exchanging ideas and best practice but also inviting UK Office staff to present and answer questions on Trust guidelines.

The London Age Friendly Forum, on which the London Region is represented, has continued to work with the Mayor, the GLA and the London Boroughs. The GLA priorities have inevitably been focused on the pandemic and subsequent regeneration but LAFF has pressed to ensure that the expressed needs of older Londoners are represented in the recovery plans..

John Bent, London Trustee

The resilience our u3as displayed and the speed with which they adapted to using online opportunities meant that very soon into lock down many groups were meeting virtually

Northern Ireland

While it has been another busy year for u3a in Northern Ireland, however, we did not anticipate being in further lockdowns under the scourge of Covid 19.

The NI Regional Executive Committee (NIREC) has been a wonderful support both to myself as Trustee, but also to all u3a groups across the Province. They have increased their meetings and opened them to all u3a Chairs and committee members thus providing a valuable link. This has created a great “talking shop” to share experiences and ideas during this challenging time and has been greatly appreciated. We have had a number of interesting and informative guest speakers at the monthly executive meetings, which members have enjoyed.

The larger u3a groups in NI are thriving and have adapted to the situation showing great initiative and have taken to zoom with gusto. However, some of the smaller rural groups have struggled, but have kept in touch with their members via email and telephone and are keen and confident that their members will engage whenever it is safe to do so.

An initiative to start an online NI learning forum has been developed by the Chair of Causeway u3a and is proving popular and gaining momentum. It will concentrate initially on language which can be difficult for some groups to get the numbers and tutors to make it viable, so this will enable members across the Province to join a virtual forum, therefore creating new learning opportunities. There has been strong participation in the national Shared Learning projects, with many groups taking part in the High Street and the Postal Officers projects.

Although for me, in my role as trustee, I have found the Covid restrictions frustrating, as I have been unable to visit groups and meet members as planned, this time has given rise to new and successful ideas and initiatives, which I am sure, may continue long after the pandemic. We are all looking forward to better days when we can resume our face-to-face meetings, and enjoy all that u3a has to offer.

Valerie Cobain, Trustee for Northern Ireland

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

North East

In the autumn of 2019 we had identified the need for a new u3a in Redcar and had found a meeting place to hold some introductory meetings, as well as members from a nearby u3a who were willing to work with us to start the process. Unfortunately COVID then came along and everything had to be put on hold. Hopefully we will be able to pick up on it again once the restrictions are lifted.

The COVID restrictions initially brought many of our u3as to a halt, but within a very short time the vast majority of them had mastered digital technology and were holding monthly meetings, committee meetings and some of their interest groups. Some of them successfully held their AGM online, but others struggled to recruit any volunteers to come onto their committee, and unfortunately one of them closed down.

Sadly, many of our u3as have lost members during the pandemic, but, on a more optimistic note, plans are now being made for re-opening and recruiting new members. Having mastered Zoom, and even found some advantages in being able to hold digital meetings, many u3as are looking at how to hold Hybrid meetings, which are a combination of face to face and Zoom. Some u3as are finding that the meeting rooms they had are no longer available and some members are not comfortable with attending meetings in person, or having others in their home, so Zoom is proving to be a great asset to help overcome some of these difficulties.

Our Regional Committee has done a great deal to support u3as and have set up an IT Working Group with over 20 volunteers who offer whatever help with IT that anyone may need, including 1-1 support. They are also going out to venues where monthly meetings are held, to advise committees on what equipment they need in order to hold Hybrid meetings. They have purchased a couple of cameras and microphones to take with them so that committee members can try them out.

The networks in our region continue to meet regularly and to do a great deal to support each other. We are planning to start some subject- based networks in the coming months, perhaps IT will be the first one.

Our Trust Volunteers contacted all the u3as in our region as part of the Member Link initiative to talk about how they were managing during the restrictions and to identify good practice which could be shared, but also to offer help for any difficulties they identified. This contact was greatly valued by committees and the support is ongoing.

One of the results of living with COVID restrictions has been that u3as have had to identify and use different ways of doing things, some of which have opened up new possibilities. The challenge now is to find ways to use them as we move forward into the next phase of, hopefully, a return to a more normal lifestyle.

Sandi Rickerby, Trustee for the North East

North West

The year began with the affiliation of the region’s 101st u3a. Most of the u3as are members of one of the region’s ten networks that provide a valuable link to u3as in their local areas.

The regional committee, which is a registered charity, recruited a new trustee and elected two vice-chairs. Most of the regional committee members are trained Trust Volunteers and also regional support volunteers. Throughout the year, they have maintained contact with their allocated u3as. They gave information and offered support and help as requested. They played a key role in the successful implementation of Member Link. Members of the committee have continued to develop the region’s website and engage members with it. For example, 'My Street' which encourages members to submit work to showcase the area, posting news about activities during lockdown and developing a speaker list.

Shared Learning Projects have been promoted by a committee member. The information has been added to the Research section of the website

Among the many activities organised by the regional team were:-

It was heart-warming to see the efforts that many u3a have made to keep going and stay in touch with their members. Zoom courses were well attended and many groups were able to continue with using Zoom meetings.

After four years in post, the regional trustee completed her term of office during the year and a new trustee took over in September 2020.

Neil Stevenson, Trustee for the North West

It was heart-warming to see the efforts that many u3a have made to keep going and stay in touch with their members.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Regional Reports

Scotland

Most of the 54 Scottish u3as responded positively to lock down and quickly switched from face-to-face interest group and committee meetings, AGM’s, etc., to online platforms. Many members took advantage of Zoom tutorials organised by the Trust.

Newsletters have been sent out more frequently and telephone chat lines have meant that members who are not online have been kept in touch. Only a few remote u3as with a small and ageing membership tended to hibernate. Poor Broadband connection is an issue in remote areas.

There is some concern that existing and new members might not be attracted back post Covid and a Recruitment and Retention drive will take place as soon as possible.

The newly formed Central Belt network is working very well with 17 u3as reaching from Ayr to Edinburgh. They meet regularly online and share resources and ideas. New networks are being considered - one in the Borders and another for small Scottish u3as.

u3a Online Across Scotland was formed as a response to Covid. All Scottish u3as were invited to take part. There are now over 20 interest groups. A programme of talks was launched in April. Professor Sir Tom Devine gave a talk on the Scottish Clearances. It was attended by 340 members and over 350 members downloaded the recorded talk.

u3a in Scotland held a successful online assembly in April when one of the speakers gave a topical talk on scams.

Shared Learning Projects are being promoted with u3a members studying the Health of 19th Century Postmen in collaboration with the Welcome Trust. Members also contributed to the discussions that were part of the David Hume Institute Action Plan. Finally, some Scottish u3as were involved in the High Street Project.

Scotland now, like the rest of the UK, has a strong Trustee Support Group with a PR coordinator and Shared Learning Coordinator as part of the team.

South East

At the time of writing I have been a Trustee for just less than eight months. Despite the pandemic or perhaps because of it, all ten of the networks in the region have been meeting regularly on Zoom enabling me to attend almost all without having to travel vast distances. The network representatives have also been meeting together every two months and in addition to discussing items of mutual interest have used these occasions to invite guest speakers to update them on things such as plans for u3a day and how to run hybrid/ alternative meetings. The strength and involvement of our networks is something of which we can be very proud and we can now boast of having all but one of our u3as in a network as well as a few from just over the border.

My hard working Support Team have succeeded in contacting nearly all of the u3as in the region under the Member Link scheme. The vast majority have reported managing to keep up some form of group activity for their members; committees have been meeting on Zoom; extra newsletters have been sent; members not on email have been phoned. A common problem reported by many u3as is the difficulty of recruiting new committee members when they cannot meet face to face.

The region has held both an Autumn and a Spring Gathering on line, with good attendances. We were fortunate in having excellent speakers at both events and have begun planning the next event in the coming autumn.

As a result of a ballot of attendees, the Summer School in Chichester will not take place this year but plans are already underway for 2022 and the SE Forum, which organises the event, is being restructured to facilitate future requirements.

Susie Berry, Trustee for the South East

Partnerships have been developed with Stirling University, Age Scotland and the Scottish Older People’s Assembly. The link with SOPA will hopefully lead to reaching out to more diverse groups of retired people.

Ann Keating, Trustee for Scotland

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

South West

The South West Region is not a compact region; it reaches from the Isles of Scilly, north to Cheltenham, east to Bournemouth and includes the Channel Islands. There are 135 u3as linked together in 14 Networks. Some have only 5 or 6 u3as and operate very informally and others are much larger and more formal with Constitutions and elected committees. We have held two regional meetings, via Zoom, in October2020 and again in February 2021 with a third planned for June. We have met informally each month to support each other and to exchange ideas for the issues that have arisen because of Covid.

u3as in the Region vary considerably in size, some have less than a 100 members and others more than a 1000. The South West Action Group (SWAG) have been a great support in keeping in touch with individual u3as and phoning to speak with Chairs. All the members of SWAG are Trust Volunteers and have taken on different aspects of support.

During the year we have tried to recruit a PR and Media adviser but two people who showed an interest found it was more work than they were prepared for. Therefore, it was decided to divide the Region into three areas. This proved more successful and after a Regionwide Peer Group meeting for members interested in publicity we now have two people willing to support and advise in two of those areas. The success of this means we will take the same approach with Research and Shared Learning and we already have one adviser.

Some of the larger networks have set up Peer Groups to share their experience and we will work with the smaller Networks to bring members with the same roles together for ideas and support.

Susan Parker, Trustee for the South West

There are 135 u3as linked together in 14 Networks. Some have only 5 or 6 u3as and operate very informally and others are much larger and more formal with Constitutions and elected committees.

Wales

The Covid pandemic has had an unprecedented impact on the u3a movement, further complicated by differing lockdown restrictions across the four nations.

Initially there was a varied response from the u3as in Wales. Some were closed, others were ‘hibernating’. Some committees were making contact with their members using methods, including email, postal mail and telephone calls. A number of u3as in Wales have members that are not users of technology.

Some interest groups in our u3as, have kept in touch by email and telephone. More committees now use Zoom, Google Meet etc., to hold their meetings; the networks meet using similar platforms.

The networks are meeting on a regular basis now and the u3as are planning their restarts. The proposed restarts vary from September/October 2021 to Spring 2022 and some u3as remain cautious and are waiting for restrictions to lift.

Membership renewals in u3as across Wales is also varied, some u3as have lost members, others have remained pretty stable. A few u3as have also attracted new members.

During the past year there have been three requests for information on starting new u3as in Wales; only time will tell if they happen.

The annual 2020 Short Story competition did run but attracted fewer entries than usual. The winner and two runner- up were announced in a special Zoom event evening. The top ten shortlisted authors were all present with representatives from their u3a. The judges, Board and u3a office representatives also attended.

The 2021 Short Story competition is currently running.

The planned annual Wales conference was postponed 3 times and it is likely that our next conference will be next year.

The past 15 months have been difficult but the feeling is positive going forward into what will be the new normal.

Chris Winner, Trustee for Wales

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Regional Reports

West Midlands

Considering the age profile and limited familiarity with technology of many u3a members, the impact of Covid-19 on u3a membership over the last twelve months could have been catastrophic. Inevitably the general reaction to early lockdowns had been to suspend face to face activities and “wait it out”. Consequently, there was little activity in the region until u3a Committees realised that restrictions were becoming a way of life, and that as a matter of survival, interest groups needed to adopt online meeting technology. A survey of West Midlands u3as in November showed only 4 in hibernation whilst the remaining 81 u3as all reported some continuing activity; similarly, by the end of the year, 48% of u3as had held their 2020 AGM either online or via email. As winter showed no signs of restrictions being lifted, many u3as recognised the value of improving their communications with members through more frequent newsletters, email contact and increased telephone contact.

As more members took advantage of national tutorials and grew more confident with online meeting technology, we appointed a Regional Technology Coordinator and Mobile Phone Support, both in March 2021, to provide further support. Personal contacts were established with most u3as through regular Friday Fireside chats between Chairs and the Regional Trustee, and these chats also helped to open and maintain communication channels which proved useful during the Member Link project.

A highly successful Regional Online Conference was held on 9 March 2021, and Exploring World Faiths, the first in a series of Regional Subject weeks, was held in April. Both events attracted over 200 members per session, significantly more than would normally be seen under pre-Covid conditions. This suggests that, whilst many members want to see a resumption of face to face activities in 2021, online technology will continue to play a major role in many future West Midlands u3a activities, as u3as strive to retain their membership.

Yorkshire and the Humber

When I became regional trustee last August I was very concerned about how I would get on since I couldn’t go anywhere! And as I expect so many of us did, I had to feel my way virtually around the region. Fortunately, the Regional Management Team which was already established here in YAHR was very welcoming and has helped a great deal. Their work to keep things going over the year is to be commended.

In the region, with the management team’s help we have arranged a number of sessions supported by national office and held virtually:

It was great to see so many u3as take part in u3a day, many finding innovative and unusual ways to raise the profile in their area and achieving a great deal of media and social media coverage. Hopefully this bodes well for next year and for the 40th Anniversary celebrations.

Prior to becoming a trustee, I was a member of CEAC (the Communications and External Affairs Committee) which I continued until May of 2021. I was also a member of the Recruitment and Retention Working Group and took part in the Pathfinders programme leading a small group of u3as as they road tested the toolkit. I have developed a team of regional PR Advisers and continued to lead them until May of 2021.

I have given a number of presentations nationally supporting PR for u3a Day and more generally, as well as for VolFest and NetFest. I intend to scale down some of this activity in the coming year to allow me to concentrate on getting out to u3as in the region, meeting people and developing the region.

Margaret Fiddes, Trustee Yorkshire and The Humber

Allan Walmsley, Trustee West Midlands

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The Third Age Trust Annual Report and Accounts for the period ended 31 March 2021

Third Age Trust Trading Ltd

Benefiting individual Members, u3as, and the Trust

The Trust has created a Trading Company, TATTL, to comply with charity rules and tax legislation. This will create benefit for individual members, u3as, and the Trust itself – all the key parts of the great u3a movement. Not only will it comply with charity law, it is a vehicle through which the Trust can produce wider benefits to the whole movement.

Beacon: TATTL has also taken over responsibility for the Beacon system, although the longstanding team of volunteers delivers support and development of Beacon with the assistance of a contracted developer. The development and implementation of the new Beacon 2 has been thwarted by problems with the supplier, and the Trust Board will decide what will happen next in terms of ‘new’ Beacon.

TATTL has four ‘lines of business’, each of which is designed to benefit the u3a movement, and each of which is delivered by Trust staff and volunteers. This means that each of them generates enough income to cover costs and some aim to make a modest surplus which is then donated to the Trust as tax free ‘gift-aid’. TATTL like the Trust takes the same care and approach over managing the data of members. TATTL will also explore other opportunities and welcomes ideas from members about what would have most value to them. The four current lines of business are:

Branding and Brand Merchandising: TATTL has worked closely with the Trust to engage a new partner, Brand iQ, who now provide u3as with a range of print and other branding materials, and access to branded merchandising such as clothing. The range of materials and merchandising will grow and extend over the next 9-12 months.

TAM, the Third Age Matters magazine: TAM is now operated by TATTL on behalf of the Trust. Essentially, the costs of production of TAM are met mainly by the advertising revenue, and the costs of packaging and distribution are met mainly by the subscriptions paid by individual members. We produce and distribute 200,000 copies of a lively 90+ page magazine to u3a members five times a year at a cost of just £0.62 per issue.

Discounting and Easy Giving: TATTL has also engaged Parliament Hill who have started to provide u3as and individual members with access to discounts on purchases at many national stores and outlets, and also the opportunity to gift part of their discount to a favoured charity. A defined 10% of the savings achieved go direct to the member’s own u3a to help offset any potential loss of Gift Aid.

TATTL is also implementing a 40th Anniversary Wood and a wider tree planting initiative through partners chosen after a competitive process. It is exploring further opportunities on items as diverse as holidays, personal security watches, and domestic electric vehicle chargers, on the basis that that we can secure better deals for u3a members.

TATTL is fully accountable to the Trust, which appoints TATTL’s seven member Board of Directors, all of whom do the work pro bono, and three of whom are themselves members of the Trust Board.

Dr Clive Grace O.B.E. Chair of Third Age Trust Trading Limited

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Review of Financial Activities

The Third Age Trust is a company limited by guarantee, incorporated on 6th October 1983 and registered as a charity on 14th November 1983. It has a subsidiary company, Third Age Trust Trading Ltd., incorporated on 22nd March 2019.

The Trust is headed by a Chief Executive and has three operating departments:

• Member Services: develops and delivers learning, advice and support, events, and training and coordinating volunteers;

• Policy and Communications: supports and develops communication with and between members, by the publication of the Trust’s magazine, Third Age Matters, sourcing merchandise and benefits, and supporting Beacon, a tailormade membership management system;

• Internal Services: delivers the core functions and activities that support the day-to-day operations of The Trust.

The Trust’s Consolidated Statement of Financial Activities represents the results of The Third Age Trust and its subsidiary Third Age Trust Trading Limited.

Results

The Trust’s operational income was £3,033,965 (2020: £3,306,559), a decrease of £272,594 compared to 2020, due primarily to the cancellation of all summer schools, events and conference.

Membership Subscriptions increased by £40,668 (2020: £53,183) due to a 2.64% increase in membership growth.

Income from trading activities, TAM, merchandise and Beacon, held up well in the light of Covid restricting physical meetings and travel, but decreased by £137,115 (2020 increased by £202,706) to £1,369,654 (2020 £1,506,769).

Travel advertising in TAM, initially fell, subsequently to be largely replaced by advertisements from different sectors, and continues to hold up in spite of a reduced demand.

Beacon continues to attract new members to what is a stable u3a membership management system.

The planned upgrade encountered difficulties with the development partner and has been suspended. Consequently the first payment of the investment

into Beacon 2 of £81,000 has been written off pending a solution being found. A claim has been lodged for repayment of the entire sum.

Operational costs decreased by £643,366 (before the write off of £81,000) (2020: increased by £313,050) to £2,742,095 (2020: £3,304,461), due to the effect of Covid-19 on travel and meetings.

u3a office support costs, staff, premises and overheads, increased by £ 36,141 (2020 £133,309) to £1,120,365 (2020: £1,084,224), which has been more than offset by grants received.

Financial Position

The Trust’s total net assets at 31 March 2021 were £1,756,423 (2020: £1,465,267) an increase of £291,156 over 2020. Creditors were £258,638 (2020: £696,957). Debtors were £233,336 (2020: £489,092).

Deferred income obligations relating to the membership subscriptions for 2022 was £65,976 (2020: £179,649)

Cash Flow

Cash balances at 31 March 2021 were £1,759,039 (2020: £1,572,018). Net cash inflow was £187,021 (2020: £329,709).

Capital expenditure was £14,519 (2020: £99,719). We expect to incur £175k capital expenditure in 2021, reflecting the continued investment in our business systems.

Fundraising

The Trust did not engage any external fundraisers, nor did it receive any complaints in respect of its fundraising activities.

Investment strategy

The Investment Policy of the Trust has as its prime consideration that the Trust is merely holding money on behalf of its members.

While the Trust should seek to obtain the best returns available, the security of funds takes precedence over returns on investment.

Funds continue to be invested in several banks, the Charities Official Investment Fund (COIF) and the larger building societies which have the funds to withstand economic pressures.

Investments in fixed deposit accounts with four to five of the smaller banks may also be made where the Finance Committee feel appropriate, with the deposits limited to the FSCS guarantee level of £85,000.

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The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Reserves

Our reserves policies ensure that The Trust reserves are set at a level sufficient to cover both short-term requirements and longer-term investment needs:

Total reserves increased during the year to £1,756,423 (2020 £1,465,267). A full analysis is given in Note 19.

Restricted Fund

Restricted funds are those funds that have been donated for a specific purpose or project and total £11,889 (2020 £11,889).

Designated Fund

Designated funds are funds set-aside to cover the estimated costs of implementation of the Development Plan over the next three to five years

There was no expenditure in the year (2020 £53,596). So the fund remains at £446,404.

General Fund

The Trustees review the level of the general funds on a regular basis. This fund takes into account the need for working capital to meet normal operating costs, costs related to moving premises or ceasing operations due to unforeseen circumstances, costs of recovering data in the event of cyber attacks, and anticipated or possible future expenditure for the benefit of members and, where appropriate, the wider public. The Trustees consider that these costs are in the order of £870,000.

The actual level of free reserves held at 31 March 2021 is £1,298,130 (2020 £1,006,974) which the trustees feel is adequate but not excessive.

Our Sustainability Commitment

As a membership organisation, we represent a common voice for our members, and recognise the impact we make on society and we engage in various activities and programmes which support this aim. We have recognised the importance of inclusivity and launched a new Diversity & Inclusion Policy, bringing

together resources on regulation and equality, with our own support and features on diversity.

We aim to promote and follow good environmental practices and reduce the negative impacts of our activities.

Going Concern And Long-Term Viability The financial statements have been prepared on a going concern basis.

The Trust has prepared a deficit budget for 2021-2022. A reduction in the number of members of 20% has been used to project the membership subscription income. At the date of this report 855 (81%) of u3a annual returns have been received, with an average reduction in members numbers of 18.4%.

Income from trading, TAM, Beacon, and with two new lines coming online, in addition to the increase in sales of branded goods, is expected to generate a surplus to reduce the overall budget deficit.

Provisional forecasts for 2022-2023 and 2023-2024 indicate that the Trust will return to a surplus in 2023-2024.

The Trust’s trading activities, together with the factors likely to affect its future development and performance are set out above, as well as in our annual review. The Trust’s financial position, its cash flows and liquidity position are described in the financial review above.

The Board believes that The Trust has adequate financial resources and is well placed to manage its business risks successfully, given the current economic outlook and Covid conditions, and possible short-term funding needs. As a result, the going concern basis is considered appropriate. The Board also has a reasonable expectation that The Trust has adequate resources to be able to continue in operation and meet its liabilities as they fall due for the two years to 31 March 2023.

Covid-19

The pandemic may result in a long-term change in how The Trust and our members undertake our business. We will continue to adapt and react to the challenges caused by the pandemic during 2021, based on the combined effort and commitment of The Trust’s active volunteers and dedicated staff.

Auditors

A resolution proposing the re-election of Haysmacintyre LLP as auditors will be tabled at the AGM.

25

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Statement of Trustee Responsibilities

The Trustees are responsible for preparing the Annual report and financial statements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in England and Wales requires the Charity Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum and Articles of Association. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees confirm that, in the case of each of the persons who are Trustees at the date of this report, the following applies:

BY ORDER OF THE BOARD OF TRUSTEES

Ian McCannah, Chair 1st July 2021

26

Th* Third Ago Trust Annual Rèport ond Accounts Forth• Y•or Ended 31 March 2021 27

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

Independent auditor’s report to the members of The Third Age Trust

Opinion

We have audited the financial statements of The Third Age Trust for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Group and Charitable Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as

a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report and the Chair’s Statement. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the the directors’ report).

28

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 26, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to employment regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, income tax, payroll tax and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to income and management bias in accounting estimates. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor)

For and on behalf of Haysmacintyre LLP, Statutory Auditor

10 Queen Street Place, London EC4R 1AG

Date: 27th July 2021

29

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Income from:
Donations
Charitable activities
Other trading activities
Investment income
Other income
Total income
2
3
4
5
6
7
7
7
7
Note
Expenditure on:
Raising funds
Charitable expenditure:
Supporting learning in u3as
and promoting the benefits
of self-help learning
Providing advice and support
for management in u3as
Facilitating the growth of the
u3a movement
Raising the profile of the
u3a movement
Total expenditure
Net income and net
movement in funds
Balance brought forward 1st April 2020
Balance carried forward 31 March 2021		 Unrestricted
general
funds
Unrestricted
general
funds
Restricted
funds
Total
2021
2020
Restricted
funds
Total
205
1,576,926
1,369,654
-
-
87,180
-
-
-
-
87,385
1,576,926
1,369,654
-
-
10,068
1,783,593
1,506,769
2,344
56
3,702
-
-
27
-
13,770
1,783,593
1,506,769
2,371
56
£
£
£
£
£
£
2,946,785
87,180
3,033,965
3,302,830
3,729
3,306,559
1,409,707
336,334
611,167
120,895
177,526
2,655,629
291,156
1,453,378
£1,744,534
269
1,453,109
£1,453,378
-
11,889
£11,889
1,829
10,060
£11,889
291,156
1,465,267
£1,756,423
2,098
1,463,169
£1,465,267
-
-
87,180
-
-
87,180
1,409,707
336,334
698,347
120,895
177,526
2,742,809
1,468,954
542,387
896,443
132,665
262,112
3,302,561
1,468,954
542,387
896,443
134,565
262,112
3,304,461
-
-
-
1,900
-
1,900		 1,409,707
336,334
611,167
120,895
177,526
-
-
87,180
-
-
1,409,707
336,334
698,347
120,895
177,526
1,468,954
542,387
896,443
132,665
262,112
1,468,954
542,387
896,443
134,565
262,112
-
-
-
1,900
-
2,655,629
87,180
2,742,809
3,302,561
3,304,461
1,900
291,156
1,453,378
269
1,453,109
-
11,889
1,829
10,060
291,156
1,465,267
2,098
1,463,169

The net movement in funds for the year arise from the Charity and Group’s continuing activities. The Statement of Financial Activities includes all gains and losses recognised in the year. The accompanying notes from part of these financial statements.

30

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

REGISTERED COMPANY NUMBER: 01759471

CHARITY AND GROUP BALANCE SHEETS AS AT 31 MARCH 2021

11
12
Note
Fixed Assets
Tangible fixed assets
Investment in subsidiary undertaking
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within
one year
Net current assets
Net Assets
Funds
Restricted
Unrestricted - general
Unrestricted - designated
Total funds
13
18
18		 (258,638)
1,733,737
£1,756,423

22,686
-
22,686
233,336
1,759,039
1,992,375
£
2021
Group
£1,756,423
11,889
1,298,130
446,404
1,744,534		 (174,551)
1,774,773
£1,797,460
22,686
1
22,687
409,469
1,539,855
1,949,324
£
2021
Trust
£1,797,460
11,889
1,339,167
446,404
1,785,571		 (696,957)
1,364,153
£1,465,267
489,092
1,572,018
2,061,110
101,114
-
101,114
£
2020
Group
£1,465,267
11,889
1,006,974
446,404
1,453,378		 20,114
1
£
2020
Trust
347,330
1,556,377
20,115
(458,571)
1,903,707
1,445,136
£1,465,251
11,889
1,006,958
446,404
1,453,362
£1,465,251

The net movement in funds for the year relating to the parent charity alone amounted to £332,209 (2020: £2,082).

These financial statements were approved and authorised by the Board of Trustees on 1st July 2021 and signed on its behalf by:

Ian McCannah, Chair

Richard Teare, Treasurer The accompanying notes form part of these financial statements.

31

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

GROUP CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2021

Net cash provided by (used in) operating activities
Cash flows from investing activities:
Interest income
Purchase of tangible fixed assets
Cash (used in) provided by investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at the end of the year
Reconciliation of net movements in funds to the net cash fow from operating activities
2021
£
201,540
-
(14,519)
(14,519)
187,021
1,572,018
£1,759,039		 4227,057
2,371
(99,719)
2020
£
Net movement in funds
Add back depreciation charge
Add back loss on disposal of fixed assets
Deduct interest income
Decrease (increase) in stock
Decrease in debtors
(Decrease)/increase in creditors
Net cash used in operating activities
Cash at bank and in hand
Bank balance
Deposit accounts
Total		 291,156
11,947
81,000
-
-
255,756
(438,319)
£201,540
1,161,132
597,907
£1,759,039
2021
£
2021
£		 2,098
17,550
7,750
(2,371)
(5,380)
91,417
305,233
2020
£
£427,057
957,420
614,598
2020
£
£1,572,018

32

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

NOTES TO THE FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021

1. Accounting policies

(a) Accounting convention

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Third Age Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

(b) Going Concern

The Trust has taken into account that the pandemic may result in a long-term change in how The Trust and its members undertake their business. While budgets and forecasts show that the Trust may not return to a surplus until 2023-2024, income from new lines of business in Third Age Trust Trading Ltd., the Trust’s subsidiary, and new initiatives by the Trust, coupled with continued monitoring of expenditure, should ensure that funds and resources are available to cover the next three years. Accordingly, the financial statements have been prepared on a going concern basis.

(c) Consolidation

The accounts consolidate the financial statements of The Third Age Trust and its wholly owned subsidiary, Third Age Trust Trading Limited, on a line by line basis. Transactions and balances between the Charity and its subsidiary have been eliminated from the consolidated financial statements. As permitted by Section 408 of the Companies Act 2006, no separate Statement of Financial Activities or Income and Expenditure account has been presented for the Charity alone.

(d) Income

All income is recognised once the charity has entitlement to income, it is probable that income will be received, and the amount of income receivable can be measured reliably.

Income from membership and magazine subscriptions is recognised when the cash is received or committed. Income that is received in advance for a future accounting period is deferred.

(e) Expenditure

Expenditure is recognized on an accruals basis as a liability is incurred.

(f) Charitable expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its members. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

(g) Allocation of support costs

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its members. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Costs have been apportioned on the basis of salary costs.

(h) Governance costs

Governance costs include those costs incurred in the governance of the Charity’s assets and are primarily associated with constitutional and statutory requirements. Governance costs are now allocated to charitable activities in full.

(i) Funds

Unrestricted funds are donations and other incoming resources received or generated and can be used at the discretion of the trustees for charitable purposes.

Designated funds are unrestricted funds earmarked by the board for particular purposes.

Restricted funds comprise funds received for specific programmes and activities, as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

33

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

NOTES TO THE FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31ST MARCH 2021

(j) Tangible fixed assets and depreciation

All assets costing more than £500 were capitalised and all assets were recorded at historic costs. Provision is made for depreciation on tangible fixed assets, at rates calculated to write off the cost or valuation less the estimated residual value of each asset over its expected useful life.

Furniture and equipment – 20% p.a. straight line

(o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Computers – 331/3% p.a. straight line

Database systems – 20% p.a. straight line

(k) Stock

Stock consists of goods for resale and stationery and is valued at the lower of cost and net realisable value.

(l) Financial Instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes.

(m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments.

(p) Leases

Payments under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the life of the lease.

(q) Employee benefits

– Pensions

The Charity contributes to a defined contribution pension scheme and the pension charge represents the amount payable by the charity to the fund, in respect of the year

– Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received

– Employee termination benefits

Termination benefits are accounted for on an accrual basis and in line with FRS 102

(r) Critical Accounting Estimates & Judgements

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

34

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

2. Income from donations

2. Income from donations
Donations
Legacies
Total		 Unrestricted
Unrestricted
Restricted
Total
2021
2020
Restricted
Total
£
205
-
87,180
-
87,385
-
68
10,000
3,702
-
3,770
10,000
£
£
£
£
£
£205
£87,180
£87,385
£10,068
£3,702
£13,770

3. Charitable activities income (unrestricted income)

Membership subscriptions
National summer schools
National study days
National conference and AGM
Total		 2021
£
1,576,926
-
-
-
1,536,258
102,716
67,492
77,127
2020
£
£1,576,926
£1,783,593

4. Income from trading activities (unrestricted income)

Licence fees
Subsidiary’s income
Total		 2021
£
-
1,369,654
21,250
1,485,519
2020
£
£1,369,654
£1,506,769

5. Other income (unrestricted income)

Other Income Unrestricted
Unrestricted
Restricted
Total
2021
2020
Restricted
Total
£
-
-
-
56
-
56
£
£
£
£
£

35

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

6. Cost of raising funds

Other licence fees
Costs of trading income
Total		 10,867
1,398,840
21,250
1,447,704
Total
£
2021
2020
Total
£
£1,409,707
£1,468,954

7. Charitable expenditure

7 Charitable expenditure
.
Year ended 31 March 2021
National summer schools
National study days
National conference and AGM
Directly allocated costs from Note 8
National office costs from Note 8
Governance costs apportioned
Total costs		 Supporting
learning in
u3as and
promoting
the benefits
of self-help
learning
Raising the
profile of
the u3a
movement
Governance
Total
Providing
advice and
support for
management
in u3as
Facilitating
the growth
of the u3a
movement
(4,835)
-
3,000
13,409
239,676
-
-
3,000
149,218
368,469
-
-
3,000
7,947
79,260
-
-
3,000
25,851
103,545
-
-
6,000
3,147
329,415
(4,835)
-
18,000
199,572
1,120,365
£
£
£
£
£
£
251,250
85,084
520,687
177,660
90,207
30,688
132,396
45,130
338,562
(338,562)
1,333,102
-
£336,334
£698,347
£120,895
£177,526
-
£1,333,102
Year ended 31 March 2020
National summer schools
National study days
National conference and AGM
Directly allocated costs from Note 8
National office costs from Note 8
Governance costs apportioned
Total costs		 99,225
57,216
20,278
20,044
229,045
-
-
20,278
286,229
390,951
-
-
20,278
20,402
62,218
-
-
20,278
101,605
92,930
-
-
40,556
44,894
309,080
99,225
57,216
121,668
473,174
1,084,224
Supporting
learning in
u3as and
promoting
the benefits
of self-help
learning
£
Raising the
profile of
the u3a
movement
£
Governance
£
Total
£
Providing
advice and
support for
management
in u3as
£
Facilitating
the growth
of the u3a
movement
£
425,808
116,579
697,458
198,985
102,898
31,667
214,813
47,299
394,530
(394,530)
1,835,507
-
£542,387
£896,443
£134,565
£262,112
-
£1,835,507

36

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

8. Support and development – detail

Year ended 31 March 2021
National office support costs:
Staff
Premises
Office overheads
Directly allocated costs:
NEC and committees
Special projects
Regions
Grants awarded
Volunteers
Direct benefits to u3as
Total costs		 186,932
21,955
30,789
239,676
3,230
649
-
-
(1,337)
10,867
13,409
£253,085
281,503
33,060
53,906
368,469
708
4,838
3,494
-
(937)
141,115
149,218
£517,687
55,934
6,569
16,757
79,260
561
197
-
600
-
6,589
7,947
£87,207
74,879
8,794
19,872
103,545
4,814
17,512
-
3,525
-
-
25,851
£129,396
191,290
22,465
115,660
329,415
2,483
664
-
-
-
-
3,147
£332,562
790,538
92,843
236,984
1,120,365
11,796
23,860
3,494
4,125
(2,274)
158,571
199,572
£1,319,937
Supporting
learning in
u3as and
promoting
the benefits
of self-help
learning
£
Raising the
profile of
the u3a
movement
£
Governance
£
Total
£
Providing
advice and
support for
management
in u3as
£
Facilitating
the growth
of the u3a
movement
£
Year ended 31 March 2020
National office support costs:
Staff
Premises
Office overheads
Directly allocated costs:
NEC and committees
Special projects
Regions
Grants awarded
Volunteers
Direct benefits to u3as
Total costs		 Supporting
learning in
u3as and
promoting
the benefits
of self-help
learning
Raising the
profile of
the u3a
movement
Governance
2019
Total
Providing
advice and
support for
management
in u3as
Facilitating
the growth
of the u3a
movement
174,757
19,247
35,041
298,288
32,852
59,811
47,471
5,228
9,519
70,904
7,809
14,217
174,527
19,222
115,331
765,947
84,358
233,919
£
£
£
£
£
£
229,045
2,851
8,994
-
-
8,163
36
20,044
£249,089
390,951
84
7,500
51,752
2,488
55,461
168,944
286,229
£677,180
62,218
2,757
10,762
-
2,521
-
2,462
18,502
£82,620
92,930
9,688
76,483
-
15,434
-
-
101,605
£194,535
309,080
44,894
-
-
-
-
-
44,894
£353,974
1,084,224
60,274
103,739
51,752
20,443
63,624
171,442
471,274
£1,557,398

Where applicable costs are apportioned on the basis of how staff time has been allocated over the year.

37

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

9. Net income/(expenditure)

2021 2020
£ £
This is stated after charging:
Auditor's remuneration - audit fees 11,650 11,250
Auditor's remuneration – non-audit fees 2,000 2,950
Depreciation 11,947 17,550
Operating leases 88,263 78,946

10. Analysis of staff and the cost of key management personnel

Gross salaries
Social security costs
Pension costs
Total payroll costs
Freelance costs
Other staff costs
Total		 2021
£
764,442
81,569
70,365
697,209
76,189
63,344
2020
£
916,376
836,742
18,914
6,183
24,035
25,842
£941,473
£886,619

The number of staff whose taxable emoluments exceeded £60,000 were:

2021 2020
£ £
£60,001-£70,000 1 2
£70,001-£80,000 2 -
£80,001-£90,000 - 1

The average number of staff employed by the charity was eighteen (2020: seventeen). The directors, who are also the trustees of the charity, and the senior management team, comprise the key management personnel of the charity. They are collectively responsible for directing and controlling, running and operating the charity. Details of directors’ expenses are disclosed in Note 15. In July 2020 the Trust actioned a voluntary salary reduction scheme.

The cost of the key management personnel (gross salary + employer national insurance + employer pension + other benefits) was £471,443 (2020: £377,839).

38

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

11. Tangible fixed assets

12. Debtors
Sundry debtors
Rent deposits
VAT
Subsidiary undertaking
Prepayments
Total
Cost:
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charged in the year
Disposals
At 31 March 2021
Net Book Value as at 31 March 2021
Net Book Value as at 31 March 2020		 Fixtures and
Fittings		 Subsidiary
Database
systems
Group
Total
Computers and
Equipment
Charity
Sub-total
299
139
-
£		 54,804
14,380
-
55,103
14,519
-
81,000
-
(81,000)
136,103
14,519
(81,000)
£
£
£
£
438 69,184
69,622
-
69,622
5
69
-		 34,984
11,878
-
34,989
11,947
-
-
-
-
34,989
11,947
-
74 48,862
46,936
-
46,936
£364 £22,322
£22,686
-
£22,686
£294 £19,820
£20,114
£81,000
£101,114
Group
Group
2021
2020
Charity
Charity
£
£
£
£
102,291
14,364
42,363
-
74,318
287,558
26,964
55,267
-
119,303
1,450
14,364
42,363
286,586
64,706
39,530
26,964
35,377
130,142
115,317
£233,336
£489,092
£409,469
£347,330

13. Creditors: Amounts falling due within one year

13. Creditors: Amounts falling due within one year
Trade creditors
Taxation and social security
Summer school and other deposits
Deferred income
Accruals
Other creditors
Total
Deferred income
As at 31 March 2020
Released
Deferred
As at 31 March 2021		 Group
Group
2021
2020
Charity
Charity
£
£
£
£
89,758
23,866
427
65,976
75,147
3,464
335,039
20,878
62,098
179,649
90,240
9,053
64,359
22,891
427
20,713
62,697
3,464
118,514
20,878
62,098
175,388
72,640
9,053
£258,638
£696,957
£174,551
£458,571
Group
Group
2021
2020
Charity
Charity
£
£
£
£
179,649
(179,649)
65,976
74,857
-
179,649
175,388
(175,388)
20,713
74,857
(74,857)
175,388
£65,976
£179,649
£20,713
£175,388

39

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

14. Trustees’ remuneration

No remuneration, directly or indirectly, out of the funds of the Charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them.

The Trust either paid for or reimbursed 7 trustees (2020: 16) a total of £3,495 (2020: £46,994) in respect of travel, hotel accommodation, telephone, meetings, postage and stationery costs incurred on behalf of the Trust.

15. Related parties

There were no related party transactions during the year (2020: nil).

16. Taxation

The Third Age Trust is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively charitable purposes.

17. Banstead u3a

On behalf of the Executors of Miss Odette Ellicott, The Third Age Trust holds £52,228 (2020: £49,228) on behalf of Banstead u3a. This money is invested in the Charities Official Investment Fund. Neither the asset nor the liability is included in the balance sheet.

18. Funds

18. Funds
Restricted: Barbara Lewis u3a Fund
Restricted: CAF Resilience Fund
Pegasus Life Story
City Bridge London Wave 1 Grant
Designated: Development Fund
Unrestricted: General
Total
Restricted: Barbara Lewis u3a Fund
Restricted: CAF Resilience Fund
Pegasus Life Story
City Bridge London Wave 1 Grant
Designated: Development Fund
Unrestricted: General
Total
Restricted: Barbara Lewis u3a Fund
Designated: Development Fund
Unrestricted: General
Total Funds
Group
Charity
Group
Year ended 31 March 2020
Restricted: Barbara Lewis u3a Fund
Designated: Development Fund
Unrestricted: General
Total Funds
Group		 As at 1st
April 2020
As at 31st
March-2021
Income
Expenditure
11,889
-
-
-
446,404
1,006,974
-
76,180
6,000
5,000
-
2,946,785
-
(76,180)
(6,000)
(5,000)
-
(2,655,629)
11,889
-
-
-
446,404
1,298,130
£
£
£
£
£1,465,267
£3,033,965
£(2,742,809)
£1,756,423
As at 1st
April 2020
As at 31st
March-2021
Income
Expenditure
11,889
-
-
-
446,404
1,006,958
-
76,180
6,000
5,000
-
1,754,729
-
(76,180)
(6,000)
(5,000)
-
(1,422,520)
11,889
-
-
-
446,404
1,339,167
£
£
£
£
£1,465,251
£1,841,909
£(1,509,700)
£1,797,460
As at 1st
April 2019
As at 31st
March-2020
Income
Expenditure
10,860
500,000
953,109
3,729
-
3,302,830
(1,900)
(53,596)
(3,248,965)
11,889
446,404
1,006,974
£
£
£
£
£1,463,169
£3,306,559
£(3,304,461)
£1,465,267
As at 1st
April 2019
As at 31st
March-2020
Income
Expenditure
10,860
500,000
953,109
3,729
-
1,818,702
(1,900)
(53,596)
(1,764,853)
11,889
446,404
1,006,958
£
£
£
£
£1,463,169
£1,822,431
£(1,820,349)
£1,465,251

40

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

The Barbara Lewis u3a Fund resulted from income received and is available to provide support for new u3as.

The Designated Development Fund was created to provide funding for the development plans of the Trust.

The grants received from the CAF Resilience Fund, Pegasus Life Story and City Bridge London Wave 1 Grant were used on the Keeping in touch project, for keeping our members connected during covid, with special emphasis on members without-on line access.

19. Allocation of net assets

The Trust
Restricted funds
Unrestricted designated funds
Unrestricted general funds
The Group Total
Restricted funds
Unrestricted designated funds
Unrestricted general funds
The Group Total
Year ended 31 March 2020		 Fixed
assets
Total
Current
assets
Current
liabilities
-
-
22,686
11,889
446,404
1,534,082
-
-
(258,638)
11,889
446,404
1,298,130
£
£
£
£
£22,686
£1,992,375
£(258,638)
£1,756,423
Fixed
assets
Total
Current
assets
Current
liabilities
-
-
101,114
11,889
446,404
1,602,817
-
-
(696,957)
11,889
446,404
1,006,974
£
£
£
£
£101,114
£2,061,110
£(696,957)
£1,465,267

20. Pension commitments

The charity contributes to defined contribution pension schemes for its employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. At the balance sheet date, there were no contributions due to the fund (2020: £nil). Total premiums paid in the year were £70,365 (2020: £63,344).

21. Lease commitments

The company had the following commitments in respect of non-cancellable operating leases.

Within 1 year
2-5 years
Total
Within 1 year
2-5 years
Total
Expiry date
Expiry date
Year ended 31 March 2020		 Land and
buildings
Office
equipment
2021
Total
-
-
-
-
-
-
£
£
£
£-
£-
£-
Land and
buildings
Office
equipment
2020
Total
17,125
-
21,028
-
38,153
-
£
£
£
£17,125
£21,028
£38,153

41

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

22. Third Age Trust Trading Ltd

Third Age Trust Trading Ltd is a wholly owned subsidiary registered in England and Wales, registration no. 11899419, which was registered on 22nd March 2019 and was operational as of 1st April 2019. Its registered office is Unit 104, The Foundry Business Centre, Blackfriars Road, London, SE1 8EN.

A summary Profit and Loss Account and Balance sheet follow.

Profit and Loss Account for the year ended 31 March 2021

Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable
Profit for the financial year
Balance Sheet as at 31 March 2021
Fixed Assets
Current Assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Net current assets
Net assets
Capital and reserves
Called up share capital
Profit and loss account		 1,369,654
(1,222,703)
146,951
(188,804)
(41,053)
-
£(41,053)
2021
£
-
110,453
219,184
329,637
(370,673)
(41,036)
£(41,036)
1
(41,037)
£(41,036)
2021
£		 1,485,519
(1,290,665)
2020
£
194,854
(194,447)
407
(391)
£16
81,000
225,961
15,641
2020
£
241,602
(322,585)
(80,983)
£17
1
16
£17

42

The Third Age Trust Annual Report and Accounts For the Year Ended 31 March 2021

23. Capital commitments

The Trust had capital commitments of £Nil (2020 up to £30,000) in line with its Development Plan. The trading subsidiary has capital commitments of £Nil (2020 £168,000) in line with its plans to upgrade the Beacon system.

43

u3a 156 Blackfriars Road London, UK SE1 8EN

Contact the National Office Tel: 020 8466 6139 Email: info@u3a.org.uk u3a.org.uk

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