2023-08-31-accounts - U3A In London

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CONTENTS		Pages
Charity and company informafion
Trustees' annual report		4-7
Objectives and activiTies
Public benefit
Achievements and perlbnnance
Financial review
Structure, governance	and management
Future developments
Independent auditors' report		8-9
Financial statements		10-19
Statement offinancial	aciivilies	10
Balance sheet
Statement ofcash fiows		12
Notes to the financial	statements	13-19

Executive		Committee	Richard Arthur	(Chairman)	(Chairman)
(Trustees	and directors)		Gill Korgaonkar	()rice	chairman)
			Anthony Sober	(Treasurer)
			Stephen Barry
			Ruth Freeman
			* David Gigi
			Marie-Ange King
			Gail Levy
			Hazelanne Lewis
			Shafeeq Siddiqui
			Richard Sisson	(Assistant treasurer)
			Barbara Stevens
			*=co-opted member
Company	Secretary		Mushtak Macci
Registered		charity number	288434
Company	number		01752272
			Registered in England
Registered		office	Old Town Hall
			213Haverstock Hill
			London NW3 4QP
Independent		auditors	Knox Cropper LLP
			Chartered Accountants
			65Leadenhall Street
			London EC3A 2AD
Solicitors			Bates Wells 8Braithwaite	London	LLP
			10Queen Street Place
			London EC4R 1BE
Bankers			CAF Bank Lkl
			25 Kings Hill Avenue
			West Mailing ME194JQ

INDEPENDENT AUDITORS' REPORTTOTHE~OFINA Nl LONDON(~)
Mattem on which we are Required toReport by Exception
In the light ofthe knowledge and underslanding ofthe charitable company and its environment obtained in the course dentified materialmisstatementsi
ofthe audit, we have not the trustees' report.
We have nothing to report in respect ofthe following mattem in relation towhich the Companies Act 2006 requires		us
to report to you if, in our opinion:
-Adequate accounting records have not been kept, or returns adequate forour audit have not been received from
branches not visited by us;cr
-The financial statementsare not in agreement with the accounhng records snd mtums; cr
-Certain disdosures oftrustees' remuneralion specitied by kiw are not made; or
-We have not received afithe information and explanations we require forour audit; or
-The trustees were not enhtled tcprepam the financial statements in accordance with the small companies regime and take advantage ofthe small companies exemption fmm the requirement toprepare aStrategic Report or in
preparing the Trustees' Report.
ResponsibiliTies ofTrustees
As explained more fully inthe Statement ofTrustees' ResponsibiliTies on page 2,the Executive Commiltee (the
members ofwhom are the trustees forthe purposes ofcharity law and the dkactors ofthe charitabl company for		the
purposes ofcompany law) is msponsible forthe preparafion ofthe financial statements and fcrbeing satisfied that
they give a true and fairview, and forsuch internal corrhol asthe tmstees determine isnecessary toenable the
preparation offinancial statements that are free fiom material misslalwnent, whether due to fraud or error.
In preparing the financial statements, the trustees am responsible forassesrJng the company's ability to continue		as a
going concern, disdosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustees either stand to iiquidale the company m tocease pealions, or have no malistic
alternative but todoso.
Auditor'6 msponsibiliTies forthe audit ofthe financiat statements
Our objectives are to obtain reasonable assumnce about whether the fmancial siakenents asawhole are free trom
material misstatement, whether due to fraud orerror, and to issue an auditoris report that includes our opinion.
Reasonable assurance isa high level ofassurance, but is not 6guarantee that an audit conducted in accordance		with
ISAs (UK) will always detect a material misstatement when itexists. Aiisstatements can arise from fraud orerror and are considered malarial if, individuefiy orin the~,they could reasonably beexpected to influence the economic decisions ofusers taken on fite basis ofthese financial statement
Irregularities, induding fraud, are instances ofnon-compliance with laws and regNations. Wedesign pmcedures	in
line with our responsibiTilies, outfined above, todetect material misstatements in respect ofirregularities, indu ding fraud. The extent towhich our procedures are capable ofdetecting irregularities, induding fraud isdetailed below:
The Charitable Company isrequired to comply with both company law and charity law and, based on our knowledge
ofits activities, we idenNied that the legal requirement to comply with the Charity SORP was ofkey significance.
We gained an understanding ofhow fim charitable company complied with ils legal snd egulatory framework,
including the mquimment toamply with the Charity SORP, fiirough discusstons with management and a review	of
the documented policies, procedures and controkc
The audit team, srhich isexperienced in the audit cfcharities, considered the charitable company's susceptibility material misstatement and how Aaud may occur. Ourconst~ induded the risk ofmanagement override.	to
Our approach was tocheck that all income was properly identified and accounted for and toensure that only valid		and
appropriate expenditure was charged to charity's funds This induded mviewing journal adjushnents and unusual
transactions,
A further descripfron ofour responsibiTifiesfor the auditof the financial atemenls is located on the Financial Reporting Council's website h:I .frc.crg.uklaudilo sresponsibilikes. This description forms part ofour
auditor's report.
Shoaib Amhad (Senior Satutoe Auditor)
For and on behalf ofKnox Cropper LLP (Statutory Auditor)
65Lesdsnhsp Street, London, EC3A 2AD 18January 2024
Knox Cropper LLP is etpilih tosctas auditor in teens cfsation I?12cfthe Companies Act 2006.

(including in	come a	nd expenditure a	ccount)
			Note	Unrestrir dad	~	2023	2022
				funds	funds	Totat	Total
				FOOO	EOOO	EOOO	6000
Income
Membership	i/ax/me			52		52	100
Donations	and legacies			188		188	66
Investment	income			57		57	56
				297		297	222
Charitable	activities
Total						297	222
Expenditure
Raising funds				15		15	20
Charitable	activities
Study groups				178		178	176
Events	and sundry income
				178		178	176
Total				193		193
				104
Net gains/(losses} on imreebnerds:
Realised
Unrealised				(39)		(39)	(84)
Net income for ure year						65	(58)
Reconciliadon	offunds:
Total funds brought forward				2,125		2,125	2,183
Total funds carried forward				2,190		2,190	2,125
All amounts recorded		in 2023comprise	unresIreted	funds

			Note	2023	2022
				6000	FOOO
Cash flows fnnn operagng acgvmes
Net income forthe year
as shown in statement ofgnancial adnrihes		on page 10			(58)
Adjustments for.
Distributions and interest from investments			4	(57)	(56)
Deprecisgon charges Net (gains)/losses on i vestmenm (Increase)/decrease in income tax~			10 11 12	12	12
(Increase)/decrease in legacy receivable			12	(182)
(Increase)/decrease in other debtors and	pmpaymenls		12	(2)	(11)
(Decrease)rmcrease in subscrtplions inadvance			14	19	(21)
Increase/(decmsse) in commilmeiri under		pmperiy agreement	14
Increase/(decrease) in other credriors and		accruats	14		20)
Net cash provided by/ (used in) perating		actiwTies		(107)	(61)
Cash gown from invesgng acgviges
Distributions and interest from inveslmenls			4	57
Purchase oftangible fixed assets			10	(9)
Sales/( urchases) ofinvestments			11
Net cash provided by l(used in) inveshng	arrihriges
Cash flows from gnancing acgviges
Repayments ofborrowing
Net cash (used in) tnandng acthribes
Change in cash and cash eqimrahnns in gm		year		(59)	(4)
Cash and cash equivalerris atthe beginning ofthe year					130
Cash and cash equivalents atthe end eflhe		year	13	67	126
The noise on pages 13to 19 form part ofthese financial statements.

NO	TES TOTHE FII4ANCIAL STATE4(tENTS FO	R THEYEAR ENDE	D 31AUGUST	2023
		Umesldcted	Resbicled	2023	2022
		funds	funds	Total	Total
		5000	EOOO	f000	EOOO
5	Income from charitable a tivities
	Events and sundry income:
	Easter conference
	Outings and concerts
	Sundry income
8	Costs of raising fumbs
	Payments to other charities (see note 19)	6			10
	Publicity	1			2
	Support costs —see note 9(d)	8			8
		15		15	20
7	Costs ofstudy gmups
	Accommodation	125		125	132
	Other direct costs	22		22	10
	Support costs —see note 9(d)	31		31	34
		178		178	251
8	Costs ofevents and ofsundrtr income
	Easter conference
	Outings and concerts
	Sundry income
	Support costs —see note 9(d)
9	Total expenditure included:
	(a) Rent and licence fees payable
	Leased accommodation				139
	Licensed accommodation
	Additional accommodation
				133	139
	(b) Professional charges
	Payable tothe auditom
	Comprising charges in connecbon with:
	Independent audit

					2023	2022
					Total	Total
					6000	f000
(d) Support costs
Office accommodation						20
Depreciation ofoffice furniture		and equipment				2
Communications					6	7
National afliliation fees					7	7
Governance costs:
Audit fee
Other governance	costs
Other support costs
					39	42
Allocated as follows	—see note 1(c}:
Raising funds					8	8
Study gmups					31	34
Events snd sundry	income
					39	42
Tangible Axed aeaete
			Com piner	Other	2023	~202
			equipment	equipment	Total	Total
				and fumltum
			2000	6000	2000	2000
Cost
Brought forward			47	52		98
Disposals in year
Additions in year
			56	52	108	99
Depreciation
Brought forward				50		71
Disposals in year
Charge for year			10		12
						80
Net book value
at 31/08/2023			16		16
Nst book va/us
at 31/08/2022			20	8	28	28

	No further expenditure on tangible faced assets had been aulhorised b	y the trustees at	31 August 202	3(2022:nil).
	Tangible fixed assets with an aggregate cost of E27,000 had been	fully depreciated	but remained	in use at 31
	August 2023 (2022:E27,000).
			2f)23	2022
			EOOO	EOOO
11	Investments
	Cost		1,981	2,065
	Sold in year Additions Gains/(losses)		tw	~84
	Market value		1,942	1,981

			Brought	Brought	Purctwsesr	Purctwsesr	Reafrsed	Unrealised	Gamed
			forward		(sakt)	inreer	gainf(lass)	gainl(loss)	forward
				FOOO		EOOO	EOOO	EOOO	FOOO
	Ethical Fund							(5)	189
	Investment	Fund		1,787				(34)	1,753
				1,981				(39)	1,942
		2022						far)	2,020
12	Debtors and prapayments
	Income tax	recoverable
	Other debtors								182
	Prepayments								17	15
									199	15
13	Cash atbankandinhand
	Current accounts and cash		in hand						57	116
	Oemand deposit								10	10
									67	126
14	Creditom	payable within one		year
	Membemhip	subscriptions	received	in advance					26
	Other creditors and sccruals								8
										16

				Tangible	invest-	Net cmvent	Finance	Total
				fixed assets	ments	assets	lease	2023
				5000	f000	FOOO	2000	f000
Unrestricted		funds
General		fund		16	492	232		740
Designated			funds		1,450			1,450
				16	1,942	232		2,190
Restricted funds
				16	1,942			2,190
36ovements		in un estricted funds
			Balance at	income	Expenditure	Gains on		Balance at
			31August			investmenls		31August
			2022					2023
			FOOO		FOOO			FOOO
Generalfund
			675	297	(193)	(39)		740
Designated	funds
See below			1,450					1,450
			2,t25		(193)	(39)		2,190
								2622
General fund			733		(166)	(84)		675
Designated funds			1,450					1,450
			2,183		(196)	(64)		2,125
Designated	funds

e and activities ofU3	A in Lon	don (seenote 6):
			2023	2022
			EOOD	EOOO
The Hampstead School ofArt			0	2
The Keats Community	Library		2	2
The Primrose Hill Community		Association	2	2
Maggie's Cancerkin			2	2
Age UK Camden			0	2
			6	10