IN LC)NDON TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Registered charity No. 288434 Company No. 01752272 Page 1
U3A IN LONDON TRUSTEES. ANNUAL P£PORT Al FINAKIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 CONTENT8 Paps Charny aftd ¢omp•ry Inforni•tlon Obl•cbveg and aelivrtkls Public A¢hl•v•m•nt> and p•rform8nc• FInancl re¥ Structwo, gov•m•nce •nd mat)o9rn1 Future d•vdwnMts Ind•p•nd•nt 4udltorn' v•port 8-10 Flnan¢S•l •tst•m•nt• 11-20 Slai•m•nt of finondal Klryib•8 Balan she•t 12 Sl8tem•nl ol h Ih 13 Notes to Ihe nty•1 ilatom•nts 14.20 Pag8 2
U3A IN LONDON CHARITY AND COMPANY INFORMATKIN Ex•cu've Commrti•e (Tru3tses and directornl Ajthur Gill K¢)nwn Icholmwnl (Vic• ehaimanl (Tr•8sur¥) Othw mwnb•rs Marie-Ange Kjr Susan Kvk Gail L Hazelanrffj Lvms Sh•l••q Shld Il"chrd &Mc ' 8•ra Slev P•gpy Wyli• {Aw•t•nl tr•uuiw) Comp•ny S¢c¥•¢ary Mujhiok M¢¢4 R•gi$t•r•d ¢harity num)•r 288434 Compmy numb•r 01752272 R•9l$t•rnd in Engl•nd R•gistored offic• Old Ttr•m H1 213 Ha¥•rstock Hil L*YvJon NWJ 4QP Indewndent •uthlors Ch•rt•r•d A¢Untan 65 L8adenh811 St¥ 8olldlorn Bat•• Wdls & 8rnitlNMkn London LLP 10 Queen Street Fya Lon EC4R 18E 88nk6rs CAF Bank Ltd 25 Kings Him Avenue West MdlirvJ ME19 4JQ Page 3
U3A IN LONDON Reason8W •ps arn taken to moet the newJ8 of mbers are or beo)me disgbied. the prniseS from ¢haiity op•r4ies has dis8bled accèsj and. Trlknerg nged¢d. pw50nal car8r5 can. without tharg?, acwnpany members particlpAting In stu(Jy grc¥Jp$. Th• tharily has •slabli8hed a for the protection of members mty r•oardèd as physically or m•ntally vulnernble, whsle •ttendin9 •ivIO on th• premis9s and outstd• thm. Register ¢h8rity nuTnb8r.. 288434 Cornpany number. 01752272- registarnd in En9fand TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 ile the Stat otyothè rel•rs, In pgrtloAar. lo dw men and women and io the Grnat•r London Brna, there is no 900 limit u) pra¢¥¢o nor 18gtridlon by area. Ha¥•t. th• ehanty doos not lake steps lo r8cruii m•mb•rn INty in arms prvnarity ty other U3As. The ExecJJtive Cornffttitt of U3A in LondM (wh'L referred lo below as ih& ¢harty' or Ihe cismpany'l wesents rts annual f8POrt for th8 ye4r t•d 31 Au9USt 2024. Th report ir¢lud$$ thè dItOrS, rew requyed c•mp•ry law. A substsrth•ty rèductd sublerwle Is aval1A& for m•mb•rs in rfjcoipt of Trhllare benefilg. AdminirntNe detiLs rf the tharity. it5 ExwJ¥v• Cornrnittg• and ts advlsers aro glven on pa99 3. Achl•v•m•nt• arKI p•rfomwi¢• ObJ•ctlve advltl IA•mb•rnhlp The tharivs st8t•d ot4•dfv• is to edw•fion of publi¢, and in pArtlcul4r dd•r m•n and wrxnJn, In th• CArfVlO th• sthnm•r torn1 2024 land before memborn GrMt•r London ar••. were inwt•J to r•nvw th•ir 3ubscn'pb'on¥ for followiryJ y•arl 1417 members wgr• registered - 19 Sess Ihan In Th• charity se•k4 Ihis obJ•th• by tm prov1x Iho wevirMJ3 yaar Thoy indiKl•d 440 of Study qroup$ And l•is¢Jre qclfvlll8s. 022123.. 4141 h•d p.nad th• Prnvhwfy 12 Th annual m•mbèrshlp 8ubscrfptbx rn•rnbwJ kn R•¢yuitrTWd ol n•w mbS 1$ primarfly by word ol aii•nd all sttsdy groups anrj Monday talks vthhtyJt hJrth•r mcAlth. through th• ¢h•riW$ w•bsit• and hwing char. M•mb•rs pXirApatbng In other •caiv#i•s pay a kY•S•fi •1 kx•l corrnunity ovorrts as th• ¢l)•y to h•lp defray th? co¥li. HaMp81d Summer F•ir. USI in Lon¢Jon 1$ • of Th• Third Ag9 Tfttst. wh 18 Iho cHrdin4tlng boty lor U3 thpxy1lJt th• Unit +fjngdom. Study group• In IM undor I•¥¥ lh• ctsity arrangod 8bJdy p$ on subJ•d8 th•1 Indudod hislory, sc4ane•. 'U3A' 1$ •n 4¢fyM for'Unlvw•lty of th• Ap.. A US4 Fanguag, litwalufe. arL mus. pl)ysi¢al frtn•s9 and Is not • univ•rity in lh• currenl sonM L I be4ty vthich br9. W• ¢IdIY provhl• ov•r 150 drfltsrt rJa8J•s. ¥w4rds d•gr•e8 Ihe orlgln•l 01 th commuthty rf Mo>1 of thu Sludy groups w•ro provid•d weokty for Ihr•• p•ople both ¢ng&god In hmln9 and l••ming from eath t•mB, Irom S•o•mb8r to Juty. Talks vJ•rn DIr. tt offers no c•rtiftates or degr and rn•mbers 010 on each mo8Y ol l?mi by outsid• speakers on sluty fcr ¢h• Oeayurè of leamirvJ. Th• Iter¥ of >tu¢ty lopiu of 9eTwJI ird•rtsi, and addlOnsI t81k¥ were gr¢ups • called CO•ordin•lors, rather than t•ach•rs Iv provHlod by mornb•rs and 0$19 spg•ker$ tho lectur•r5, b¢caus• l••min9 Is seon as a CLp•raIv• summervatauon. prec•ss. Many l•¢tym •r• nt L1 glv•n by Zoom as well as in person. U3A London hAs no empkiyees and 811 rts •thit$-th• l•ading ol siudy groypj wnd th• adMinirnIn ol lh• Siudy gTVUPS. Othor aeiivities and the thartty rtsell- ¢8ffi¢d out by members ldUd14 th• trusl•e$l on a volJnt4ry bo919. th• sunThr vxation. som• k•ciur•i w8r• wraw on most days, Zoom. Publlc benefit Tho Ex•culiv• ConTh(d•• hAs L7rrful ¢sIde By •rbablmg Its membws lo m8el togolher. Ihe Charity to the Charity commi10n.$ guidanLz crt benefit. hdps to mitigate the danger of social tsolatbjn lor oldar Momb•rshlp ol the charity is opgn to all, th¢th rry•rd to F•opitr, Ilas b8n8fft boen continued ty th• age, cothsr. re. •thnbity. relityon. geThJer. sey)Jal on•nl Of disabdlly. Pagè 4
Chanyb durfng the yoar Ineom and expondlr0 IrK•)me was £SI(o l•ss Ilwi in t prnVi0 year. Thls tjn9 ttto lo 31 Augu312023Nbt cl•brAted OLr40th mwnty becal• wv•d l•ss in Jegad&s frcffl annlveisary by our annual subsuiption to £40 p member. In Ihe 10 31 Auwst 2024 conts.1Nd to deceas•d Men tot811mg £99.[ (2022123.. subsh1180 the subslxption, In¢r•ased fmm £40 to £181.0}. £45 an¢J tsthe y•ar 10 31 AugEfJt 2025 rt is £50. rI¢>tal The of re¢)Jffing IrKoma . fa9yl•r inmn• Is our runnlng C08ts wlth thg subsoiptsM$ frc¥n MIMt$. suppknwit•d by Inwn• m•ifrorn i•qaciM r•c•iv•d 4rKI our re#eM. tax r0¥?[• Gift Ad. In 2021124 this incom• £22,OCQ YnpV•d lth th• prow0 thr. ring tho w•r to 31 August 2024 UF4Jr•ded IT, rapladng desklop laptop computers ond made other ch?noes. We hav? Contin[ our wkty email Update, whlch was introduced duriThJ I period ofcovpj. soth•t m•mb•rs can %p up to dAt• changes to rojr ¢#AJs tiM•t••S othw admirl8irntiv• mAtt•rn. In provhl• >tULty group$ ond to 4(knlnrf41•r Ihtm and b oth•r the tharity irtrgJr8 subslgntial r•nt and sllnir •ttommodD11on and other costs. EYp•ndrfur• durirrfJ 2023r24 w•• E7,CW mor• th In prnvlous Accommodallon Th• th•rity a¢¢ at lh• tx Try•m H•1 H4vtrsto( Ptill. Lon¢Jon Nwd. Rooms afo until 30 Jun• 2040 at oft annLwI r•nt 01 £112,000 VAT rf AppropTr•t• IvAth a r•vi•wl. This glv•s U&4 s•wnty of t•nur• lor • lurth•r20 y•rn from 30 2020. Th• Wnc sh••t On 12 lh• ftot•s on pw•• 17 to 20 prod• detftlkn oftm and ha11110•. Al 31 AUgt 2CQ4, the chariW$ tol•l usets •xe••d•J it• IIAtslths by £2.396,C(Q12023. È2.16N),OLK)I. th• lo 31 AwJu•t 2024 thefv was £20,LU) ot ¢Apit 4Xpddul•, updaung COmPLrt•rn and proi•ctor4. Flnanclal r•vl•w In¢om• and •xpendltuM i1¥nts, ar• dl CCW An knv••lm•nt hou •X(ausiv•ty IOT ¢hgrfti• and ho1 aut1kltIOa. irKA•Sed in v•WJe during th• y•ar by £161,00012022123 (foern•8• ofO9.000}. O•biors •rKI prtpAyffthts decM•wl ty £182,1))O, of £181.OtsJ 4 1•gw thcatly Aftor 31 A$1 2023. 20224 Credltorn du• wilhin ¢n• y••r otth• b•lArK• •tt••t dat• O•¢w•d by £1,1. Incor 245 Exp•ndfjtur• 200 A¥ a muh of th• for•golrKJ. ot th• •nd of th• y•br th• crty$ b•l•rS of eath al b4nk In hand amount•d I to1 £282.000 12023.. £67,OCKII. A •t•m•nl of th• sh fily lor lh• y•ar is glv•n on pag• 13. Nol Incom• 104 IvlvInt gains 181 Net Irume Det8113 8re glvon on pap 11 In ts note8 pages 14 10 20 Pagg 5
R•••rv• and rnserw•s pollcy Details olthe ch4rlty's funds (its roser¥esl ar• wovbJ•d In nole 18 on pay 19. Th• ExecutNe Committae cl the chwity is r8sponsible fty d•twinity the of tho tharity and lor makn'ng maJwd•osions reoarthng ils ¢waI5. Th•r• aivj no rnstrkted fund. The ch4ritl3 policy is to set ade as a degwJnate(l fv1 the ieseNes n••d¢d to hP S¢Te th• chartys needs The m•i•rn th• ExéeuUv• cone are Ihe for 4wArnrnod&iion th future swrs. lo cu4er lt••% of th• ch¥lty for the purp)BO5 of tharity lrn. clrwm4reS and to prtyide to Supplent th• Tlw •r• th• diredoryJ of the 4JMipany for thè charitls M&nberSP irKom• and thu$ ctr4•r prys8•ofcompwry W. chodV$ njnnlny lhOUl on hgac4"•9 and ex¢epboMI d•t)n8. the inciderte of vthi¢h 1$ •W Th• trust••8 rK•lvo no eratIOn pay uncertain.. vthhoul IncnI omf4Jnls of Invostmwtt subscriptiorvd for èvènts rnts basls a8 all inc6, subscription rniéx WOU have to be incrnased OIW m•mb•rn. ubJtan'ally. Cy to rnspoNbllty lor tho ¢y th• d)•rlty Tho bal•nc• Of th• de#lgnat•d fvrtds at 31 Aug1 2024 r•sts tts oifthrs. thfe• olvknom It choimwn, vic•. lot•ll•d £1,450.(th (2023. £1,450.OCQ). eMimMn and tre•sufer) &r• elecsd by lh• tru8t•$ from •moThJ tht m•mbefs ol th• Ex•rJJtsve Commillee TM r•m•nlng £948,CIJO12023". u40,C(} ¢4th0 ftnts of ifflm•at•try 8x41 annual yn•rg1 m88ling. A th• charty is regarded by th• EX•¢jjt •• a ftrth offic•r b• w ¢A•d al tim•. A numb•roltrust••8 ar• mth r•sp)nsibl• for indNiduAI adthti•8, •nd r•wt to th• theirman and lo Ihe nwtyng• ofth• ExwJilv• CommItt. Invesim•nt pollc¥ Th• charty'l polw IA to invtst r•quY•d in th• ort t•m) lor the chiW8 ¢)pernUons In iNeslrntrrt •sthbbsh•d in &cardanco wrth th• Charib?¥ Act 2011. Invmtments hav• previlty beon ma4• In tKJlh fi&nt•t and tyurfbMed rtS ord•r lo lh• risks cl In lh• ma¢k•t v•lu• of lov•m•ThIS •9•In th• Trjed for • high In¢om• th•n Iwuld b• •v•lW frnm W d•po•h. Th• •ppointhwt of InM1• Is go¥• ty t Comp13 ot A0Cla0n. All twjtw must b• tromb•rn cl th• comp•ny. Up to Iwelve InJ$tsM a elocted by the mombern ol tm conygrry Al •8th 5•1$ 4nnu•l w8r•l m•thrffj for • tem of one y••r. If an fjt6d twit8• 174$ $oThad fty low y•&rs kn $ucus610n, h* Of shts is not for rHl•ction for a p•rlDd of
•Arn. If Ih•r• 1$ a •moNJ iho led 1rust, it 1$ filbd by UMIc0stUl carddal• vkno reN•d th• n1 nnr 01 voi•• at th• Stru¢tur•i 8ovwn•nc• and m•n•yment U3A in Lcndon w4• Incorpor•t•(l M 12 8•pt•mbtr 19fJ ai o oJrnp•rry limll•d ty 9r4ftt••. rt is • w"slw•d ¢hinty As • ccmpany, it }• goy•m•d by i11Arttd ol A88ociation and in accordance ¥th lh• Comp•nbDsAGt 20Ce," th• lomer ar• •s •m•nd•d by a sp•tyd r•uAution ol th• m¢mr$ of tr¢ rK)mpany ¢)n 23 Nlof¢h 2015. The •led trustees m•y IOpt 14) to srA •ddttion•l trus15. toggth•r •noihor or if tho nLmb6r ol •l•et•d trust•ei f•lls belTr Iwelve or deven respgctivety. Al ¢tropknY tNrt•8s s•N• untyl lh• ofth• n•xt •nnu•l 9enernl m11n9. Ser¥lni trustees Th• norn ofthe tru#t••s 81 thè dat• of thls f•port ar* ¥i•d on pag• 3. served throughout the yr under review ex• forconormaytt was olected at Ihe AGM on 11 March 2024 4nd r¢svJn8d as A tru#te• on 20 JUM 2024. Paga 6
Re¢ruhm•nt and tralnlng of tnt8tO•8 Th ¢hwdy mak•s up rts finanoal slatem•nls up to 31 Awjust in each year. In ordtsr 10 recnjit Irustees, reqLTre519 for mnr$ to come forward arg mado in rbMlett•r5, at gener meetings and by approachirKJ mtsel$ who are artNO in the charws aclfvtties. 1 Iho MberS 01 th• tharity are fom81ty invlted èach yaar to rmInate ¢andtht¢s fof •l•ction trusle•s at lh• nual gew•I MI1ft9. In pparing the financ4al s0nI¥, th• Ex•wt4V• C9rnmitt musl". select sutable KminlirvJ pol•$ #nd thon apply Ihem o)nsistenty. . mak•iudgments and •Sb"malesth are r8•sonatAe and prudgnl., sIBl•Kth8ther aortable ccoun"rrfJ stand4rdJ have been foll¢Md- 5ubi•ct to Any materfal dèparturns that •r• di3doMd and 8xplained In the fa[l81 st8t•mgnts: Pot•ntial trustees are called ¢n lo compleie J qu•sttr)nnairè to egtab113h th•ir 5uilabilty to hc4d Off haYin9 fe9ar(I to the requlfemenls of H M Revenuo •TrJ Cu511)m$ ond th• Charity Comrnlssion. Newly •lKl•d Of C(Wted truslegs ore provlW 1h th• Charity Commlssion's put4ished guK1arK• on Irustg•S' re$pon$foilttI. and vAh Iwlh•r trrtorm#iion at lh8 r•qu•st. ' prepw• lh• finral sta1¥m¢S on th• goln concarn b851$ unles$ il is inapPrn4t¢ to prnsum• that the cgntyvl o)nts'nue in op•raiion. Audltorn AtJditlon•l lar tho trust•os provid•d Th• Imslees eonfinn that they m•dts Jppr¢prt•l appears nec•ssary. •nquln•s to d6tefflyn8 all the rnl•vani audft Inf0mtIon d ha¥• made a¥•latAe 1 the inlofftialion and •xPnItr0n1 IhAt th• •udrtors required for purpos•s of thew audrt. Thry •r• of any r•levant audit kntsm)•tb)n the auditors •r• unwArn. Flnanclal control• Th• Executiv• Commrtt•t is regponsbK• for k••pirYd wop•r •¢counting records dd0$¢ Ihg fin#rts•l positk4) of th• chanty wlh re8¥on•bh ac¢ur8¢y 81 any lime •nab¢e to ensLbrn Ihal tho finantial 8tatem•nts cx¥n th lh• CompAnies AfA 20C6. It is $9 responsibkn for Solèguardino th• of th• chafity hen l¢x laking r••son•ble steps for th¢ Prevent and of trgud on(1 otr Irrn9ularhJ'•i. Th• Executb Comrnthe• h•v• continu•d to provid• fJ•ss•i %ncAI IM Covid ovor the Int•met. W• Appropii•t8 inl•mal eontrol pdU Clj.no to b8 In r•twn•d lo T Old Tc•m Hll Sept8mb•r 2021 •nO pl8e• to th8s• •nd. momtyofship num1? retuming ttrlvards pr•£ovl l•v•ls. A r•¥dutth te pffjpod ai th• annual yn•rnl thJl Knox Croppw LLP h r•papOnted a• IndeFdent auditorn. In Ihe Ih( Bubstortial 1•g•ei•s r•c•lv•d In recent •rn the Ex•cutiv• ConThrtte¢ 1> howful ol ¢tInUIng to subth"se thg annud SubN)n in hJtuTe years. but the deo&on$ on Ihis 14 tak e4) a year-by.year basig Our lease wovid•s for A rnntal ncrease in Junè 2025 l•v•l cl ubscriptson wdl have lo take IhY4 )to ae¢ount. Tru•t•••' r•w•ibiliti Th• Ex¢thivt Committee ro requireij to pr•par• fmarKi•l stat•Jrn•nts for •8ch y4ar whKh a true and lr w•w cl the Stale of 9ffairs ol th• ch&ity ol Its IncorT¥) 8xp•ndilure for the y•ar. Thè rnimb•r olm•mb•r at 31 D•c•mb•r2024 WAS 1395 ofwhorn 438 were new members. IT cr)frn$pondiroffigure a year •arfivr wa$ 1,286 ofwhom 447 ra new Memb.) This report was apwoved by ttr* Ex•¥1 Committ•• on 7 FebnJ•ry 2025 Ind w)èd on b•hAir ty. (SOUryI Pa98 7
INDEPENOENT AIMxfoRS' IEPORT TO ThE MEMBER8 OF U3A IN LONLX)N
Opinlon
We have audrte(l th• fflnanryal ststemenis of U3A in LOrOn Ilho'¢tharilatr48 ts)mpary'l forthe ypar en(1gd 31 Aug
2W24 whith comwse the Ststementof FinAnc4al AdlVrt. Balanc• Sheet notes to the fin•n¢i)I statements,
in¢dIng a Swnmary of 6i9nrfbcant accountirs F¥jIl•s. Th• financaal rwting fr8rnthb th•1 has bfr•n appli•d in thdr
preparation 13 apble law and Unrte¢l "T0M AcCOting Standwds (Unrted lfjngdom Genefalty A¢copt•d
Accounting PractK•l, induding Finanud R•poiting Standard 102 Tr FInVal Rawling SlaNthrd appliiabl• in th•
UK and R•pL11¢ of Ir¢land'.
In our opinion lh8 stalements..
Gwe a Irue and I1 view ofth• st•t• ofth? dwiith ff•irs a¥ •t 31 Augusl 2024 and of its
incornin9 T•swr¢w appIallOn ot r•SoUr. IncAlng its incomg WMI oxponthluro. forlm y•ar then
•nd•d".
• Hav• b8•n property propar•d in 4CCQtdance Aith Unrted bQrbwJorn Gengrdty Acctptgd Accounllng Prxthx,
Induding Financi Rgp)rfJ'n9 Starndartl 102 Th• Finoncial Rtswling Standard apPltI? in Th• UK and
• hAv• boen m)1d m accord•r with the reqUinnlS oflh Ctynp•ni•s A(a 2.
B•l• loroplnlon
W? condueted oui ajaI in acfud•rthvAth Inl•mallonat St•ndwds on Audi1kn9 (UIQ IISAS IUKII and appIlbkn i.
Our respon¥t.1rtI und•r Imse standards •rn further descntsd in ttre AuLlty5 ruwsibllit$ for th• of th•
fin•ncAal StatntS s•ction of Jr r•wt. W• ar• Ind•wdI ol th• ¢hani#bS• comp•ny in accordanc8 wih th•
•thie41 Nquhrnents ihit ar• relevant to our audil ¢)f th• fin8n¢id Stat•Mts in th• UK, induding th? FRC'S Elhie41
sI¢Jord, •nd w• h•v• olher othical responblrtle$ in Kwd•n¢•with these r•qulrom•nts. W• b•lknv•
that th• •udtt •vld•ne• hav• obtain•d18 sullkl•nt and •Fpropii•te to wovid• • $1$ for our
Con¢lu•lon r•9 to gobng COnn
In iuditino Iho fin8nrA81 Jtatemenls. w• hfj th•t the Iwst••s' of tho tpiw conc•m basls of•c¢4)unl
in th• pr•p•roth of th• Nnancl•l sl•tements •pwowl•t•.
Based on the h4v• p•rfmd. ha74• nol kl•ntrflod any matorfal rnlatffiq lo •v•nts or
con1¥ that. indNKlu•ltY or m cast 3lgnthe8nt doubt on the thanlable c
INDEPENDENT AUOITORS. REPORT TO THÉ MEMBERS OF U3A IN LONDON {¢onlindI Matt•rn on fthi¢h 4r• reqvbred to i•port by •x¢•ptlon In the INJM of the kntythodge and und¢r5tandiNJ of chArltAbl• cmpany rts •nvironm•ntobIaln In thè ol th¢ audiL w• have thnlrfiod m4teri&l rrissiAlements in the Report ot the Twuste•s. We hav• nothiThJ to rewl in rtSPtct ol 101kn4bry"NJ mattersTthero the Compank?J A¢% 2rth requires us lo report to you if, in our opinion.. ad¢quale a¢¢ountirrfJ reojrds h•vtt rw)t been kepl or rnlums adewate lor ¢yJr wjdit hve Th)t been rncelvad from branth88 Th)t vi$itod by us.. or Ihe finantyal ststementsare not in agreemenlwth the a¢couthng regyd3 f•lym& or • certain di8dowre¥ of trustees. rernuTrJralion spedfithj by Lffiv •re npl mle. or wo have noi reutved au the in1ormatn and explanations require Igr our autht., or • the trustees w•r• not ts113 to tak• advantw• of thè sm•ll comp•rues exemplM>n Ir¢)m tm roquir•m•nt to preporn A Slr8tegie ReFQrt or in FyEparhW the Report oftho TwJl•e8. RMpotiibiliti• rftru•t••• AB explain•d mole lulty in the Statem•nl of Trusl••3 R•sF#)nWbilrt, the trust••s (who are also th• diredor5 01 the ch8ritabl• eompany for th• wrposes olcomnY lawl ar• SpOnsIbl1 for Iho pryrnthon of th• financial statamants and for b•inq sali$fi•d Ih•t th¢y 9iv• • tr •rwJ fair ¥itrw. and for such int•m•l C191 4$ th• tNst••s deterni ig c•isary to •naNe the preparntion of finan¢Kql statomnt$ thAt ar• fr•• from mat•rf•l mlsstal•m•nL wh•th•r du• to frAud or eThor. In pr¢parfng the flrwnclal stql•m•nt•. tho tru5t••$ ar• r•wiibk• asmuing the ¢h•ritabl• compan1$ ability to contin a# A oowg conc•m, disdosing. appIc•e. m•tlars rLt to concwn and uling t goirq coneèm basis of •¢¢¢unllng u08$ th• truIt$ erthar intend to lh• th•rilabb ccffipany ¢¥ to C4• owration•, or have no r•Alisth"c attem11 but tts do 30. AudltoV• r•wn•lbillti•s lorth• olth• finAnel•l •t4t•m•nts Our obJ'¢div•s ar• lo obtain reanabl• uiurnnc• ¥hffjth•r th• fin041 Jtthm8nt• •• • vhK>le •r• from materfAI m1s3tat•mt. vh1h1r to fraud or •rror, •nd to iMu• a R•wl ofthe Indepgndent Audrtors Ihat Inc4ud•4 our OnIon. R•OsonK assurnnc• is * hh levd of •Muran¢•. Art is not a gu•r•ni•8 th•t •# •udrf ¢onductgd in ACr(lan¢t¥mth ISAJ IUK) $1 det•et a morial misstatoment when A gw$t$. ml$$talents can ad8e frc¥n frAufl or •rrof And •r• consid•red tn•twi•l If, iThJryidu•lty Or in lh• aQgr•9•, thty coulo ro8gon8bty b• èxp8rt•d to Influon th• •¢oneml¢ dediions of tAken on the tsas ol th finrIal Jt•i•m•nts. lffe9ulofi.¢j, Includlng fraud, ar• InstarKe$ of nC(trCpllr wth la and r•gul8tions. Wa dosiyn Fxoe•dur•s In lin• OUT r•spon'tslitlS. Othlined #bov•, to d•tect mo1•ri81 misstatements in respect of ifregularities, induding fraud. fhts •xtent to whlch Ouf procedures are ¢apabbg ol d•CIng wr89ularities. including fraud is d•tll•d b•ltsw. Tho th¢ntabl• company is r•quii•d to compty wrth (>Jmp8ny law ond charity Lv as applubl• in England and Wales and. bas•d on our kntrA•dg• ol it$ activkn"es,we l(lenlrfd Ihjt the1•g•I requir•m•ntto accurat•ty account lorrnstrict•d lund$ of key si9nrfvnr•. • W• galned an undèrslanthng of th• th&rila• C£mp8ny c4xnpli•d wlth its lry•l •nd r•gulatory fram•work. indudiNd the requIrent to pr¢Jpety ar¥)Junl for r•stnd•d funds, thwh th$9708vIh manAg8rn•nt and B revOf the dotsjrnthled wDc•durns and controij. Th• &udrt teom. Is experfence<l In the audit gfthath$. ¢91d¥I the charitable ¢omp•ny's su3copllbility 10 m8t#rtal mi$stal•m•M •nd how fr4ud mwy wr. (r consthrnbons indud•d th• rijk of management ov¢rrld¢. . fyjr approach w8s lo th•¢k th•t •4 Incom?w¥s proFerty •J•ntified, indJ•d )Athat the y•ur •nd and any d¢nor r•stricttiis. W• eArni•d out both substantiv• and an•W'sxl les1in9 on 8xpwKlrturn lo •nr• that it w•• v•lid Hnd appropnatg and in lin• w¥lh knovAodge of the txpan1twjn. A futhr desffiption of our r•8FfjnI1its forth• of thè fin•n¢1o191•10rn•S 18 loeatèd on tho Fln•n&•l R¢porting Courril's *bsit• at wMY.frooffJ.uklaudilorSre¥pJrY4ti¢s. TIMS dtsuipthyn fryrns pwt of our Ryrt oflhe Indep•ndent Auditors. Pwje 9
INOEPENOENT AiJDrroRS' REPORT TO MEMBERS U3A IN LONDON Iconllnuedl of our f•POrt This r¢port Is made to th• cknil• eompanls m•mb8rs. •$ • in 4ccordan¢gWith Ch•ptor 3 of Part 16 of the Companies Aet 20C6 Our &udrt has boen vnderlaken 30 t1 we MW 3iate to th chartt8bl• eompanls mombers fn#lt•r5 are reqre to stste lo them in an aucliiers, rnport and lor no other purpose. To Iho fvll•st •ant permlte¢J ty Im¥, w• do not acc•pt of assum r•sponsibility to anyo other Ihan th• ehantabl• Company and lh• charitabk• coryawrfs mengrs os * body, lorw Oart work, for thls report, of lorth• oplnions hav• formed. 8ho•lb Arn IS•ni¢r St•tutory Audiltt) For and on b•hall ol l(nox Cropp•r LLP es Leadenhall Slr••t Lwdtsn EC3A 2A0 D41e'. . ff F•bNary 2025.... P&p10
U3A IN LONDON STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 AUGUST 2024 (including Income and expendithr• accountl Ihesffictsd Pstrfcted funds Total Total £000 Ineom• MembgTshlp incom• Donatn3 and 1gVJCaè$ Inv•stm•nt Income 74 104 67 245 74 104 57 297 245 Chqritle Ktiviti•5 245 245 297 Exp•rKllbJr• Rllng fvnd• 15 Chrltabl• aotlv Sluty groups Ev•ftts ond yjhdry in¢ome 178 192 192 178 Totsl 200 200 193 45 45 104 N•t oaltWlo••••l on Inv••lm•rt•: Realised Unr•alls•d 161 1391 N•1 Inwm• ft*rth• y•llr R•¢oftclllatlon of fvnd•: Total fund• brnugh¢ fop••rd 2,1 2.1 2,125 Totsl fvnd• carrl•d forrd 2.396 2,396 2.190 All am¢)unts recorded comprise Unrestric1 fld5 The notes on pag¢$ 14 to 20 fom part ofthos• final staiemenb. Page11
U3AIN LONt)ON BALANCE SHEET AT 31 AUGUST 2024 202 £000 £wo Fbx•d T8noible fixed •ssets Inv•slm•nl$ io 11 27 2.103 2.130 16 1,2 1.958 Cun•nt •wts D¢btors and propaym•rrtJ Cash al nk and in hand 12 13 17 07 Curr•nt IbAbllIt•. Crndlors Plble wilfvn on• fft•T 14 34 N•t Burr•nt a•••t• 232 Total a•x•t• l•• eun•nt tbIlIt¥ 2.396 2,190 Y•dltor• PAy•bl• •fAr th•n on• y•ar N•t a•••ts 15 2,396 2,190 R•prns•nlin9". Th• Ineom• fund• of th• d¥rlly Unmilricled fund•'. G•n•rnl fuTr 16 740 D•signat•d fvnd8 1,450 2,190 2.396 R•gtrfct•d fuTrJ8 2.190 Th•• financid slal•m8nts hav• b••n w•pwed dance ilh the ypecial provisicns of Part IS of the C¢mn Ad r•tIng to sm•U th•Tft4blo ¢ryfXi. Registered charity No.. 288434 - CompAny No. 01782272 Appn)v8d by the NSte on 7 FebNary 2025 •nd th¢ir bahalf ty: TTrawrnr Tho notos on pa9e$ 14 to 20 form w ofthw finwKi•l stat•)M. P•Je 12
U3A IN LONDON STATEMENT OF CASH FLOWS FOR THE YEAR ENOED 31 AUGUST 2024 2024 £LK)o 2023 £000 C8h flow8 from opernting •¢tivitK• N•t IrM9 lor the year 4$ $hts% ui 8ts1em•nt of fin•neA81 actNth$ on page 10 Adlustrnenls for. Cistsibutions and int•r•sl frDm inveslmths D•precl8tion Latyes Net laalnsylosses on InVrn Ilnry8•geydecr•¥M in irwrng tsx re(>JvorAo {Incrn#soyd8creasa In l•gacy recdvthe {InueAseYde8j• in other debtors aTrJ {C•¢r••s•yincmge in subscriptions in adv Inmas8lldecrnas•l in commitrnent under pyoperty Infnasel d•creas• in othw u•ditor4 Ind 4c£ruals t cash provldod by I (used H)) opo¢atlng adivit 66 (6n (571 12 39 10 1161) 12 12 12 14 14 182 (182} {2} 19 (10n Cash IlowB from In¥••tln9 dlvltl•• DlJtrfbuilon$ and Inl•r•sl Ifom InvlmentI Purch•$• of tangible fixed asststs Salejl urcha6es of Inv•3trneni8 N•1 eash wovid•d by Ilus•d h) knvestir4 actNrti 87 1201 57 191 10 11 47 Ca•h lIty from fimnclng •otlvlll•• R• enls of borro•n Nel lused in) financi a¢¥11•¥ Chng• In Ga•h Ga¥h •qthl•nts in th• y••r 215 1591 Cash and cash •qLrtvdents •f the beglMiryJ of the yew e7 12$ Ca•h 4nd M•h •qufv•l•nl• •t th• •1 dth• y••r 13 282 67 The noles on Pa0 14 to 20 fomi port rflhts• statemen Page 13
U3A IN LONDON NOTES TO THE FINANCIAL STATEP4eNTS FOR THE YEAR ENDED 31 AUGUST 2024 1 Accountlng polici la) Bsis of pr•parndon of th• fin•ncial slt•m The financial slal•menls have been Pared in ac¢ordarKe TrIh the Charits SORP IFRS 1021, 'Accounting 8nd Roptyting ty charit$.. Slatemenl ol Rewnm•ndod abI• lo charites preparing I1r accounts accordance wth the Finants81 Rep)rting Slanlknd aPiCae in Ih? UK and Rewblic ol Imbar IFRS 1021 l•ff•cifve 1 January 20191. wilh Finaftcial Report Stand•fd 102. Th• Finanad Reporting Standard Appli¢abl• in the UK and Fl•publlc ol Ir8laNI'. and the Crynpanigs Acl 2(PJ6. The functional C4Wfenoy is pound stsding. A gurnmary of th? mor• import•nt actmr1 polKJ•s belryw. The that th•r• aro m#•rl•l atsct th• charl8 abilty to Conlin a$ • gOiTrJ conc•m nof & SiWtrfKath risk that uncertainty over eslimates made for th8 pwpts•• ol IIw3• si•t•m•nts rnay cause a rnat8ri o¢Jiu$tment to the caffy.ro vdue of ass•ts and li#'1rtW. The Charity is a pJbh'cbofit •nty. Ibl In¢0m• bgcriplThi incorn• ar IM I01•d r•ezN•rnbl• YKc4ne t•x •r• xcouni•d fty wi tm lo tMI r•lg1•, Income lax r•¢ov•r•bh on donatlong in >wr the donat% r• r•c•iv•d, legvi•8 When their r•rAipI by the be Thasur•d wth r••sonaN• c4rlnty, IrKome events nI tak•s pt at)d Incom& th$iributi¢ri8 ¢)n inv•stm•nts vth•n th¢ pru b•eom•# '•x d. Oth•r DxorThng rnSOl ar• C¢OLnt•d lor Ihoy ai• r•c•iv•d. 1¢) Exp•ndltur• Expenditure is lk¢41•4 befv4••n of genernting funds •nd ¢0$ of chafilabl• 1t1•s. Th• •mount •locAl•d ¢4mpri$$ tho8• co$l>vthith •r• Ittit)Uta to •xh eat•gory tog•thgr an alocthn of support ¢0gts. SupFQrt ¢ost$ arn thos• cos1 thal orn nol th'r•ety attribJtab to • single c•tegwy but prgvhje Ihe nec45$ary I)r98tIonal suppori lor th• divibe•. Tlw indude an apporticm&ni. bavd ¢ rdti floor #fvas, of the r•nl •nd oth•r •xp•nses d the le•g•d pr•mi•s and 0ovwn8r• co8ts Ise• belowl Supp)rt cojtg are cal•d in proporOn 1¢ th• aggr•gAi•s ol lh8 incom• lothor than 1•9Kies •nd in¢tyn•l and th• trfbutabh •xpendllur• of •• of th• c•l•goth r•f•r(•d to abo. Govomaneè costs ttfflprfse IM costs d ext•m •nd ini•mal I. 10gal lor th• tnjit5 on corFKJrai• mOrs4nd thom a$al•d7th wistitulional and slatutrAy Wuifements. Page 14
U3A IN LONDON NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1 kncountlng pollGles Iconllnwd) (dl Tab)gibki red assets Tangibl• fixed assets o)¥ling less Ihn £5 are vrtltten off Ihe of fift8rK4al aclivibes Hl Ihe year in vthkh the expendrture invjfred. Th? 51 of othgr taryJibkn fix•d &$8•ts is c8PitalTrsgd and depCIat• over I •ilimal•d us•ful liv•s of t ass•ts. Unto 31 Augu 2013. all da$$ •ssgts w•r• d8pwat8d over fve stars. Th•reafter. the •¥b'mal¢d usefvl Irf• of each CL855 of #smts has b••n as fc4bwg". Leased 011e equipment 4 y4ers Cgmputer gquipment 7 Jars Oiher •qUbpment and lumrtwe 10 )ars Th• rèsulting n•t tthk Val af• al banc8 str8t dale additn •nKJUrts rn willen off rf appropft4te. {•) Inv••tm•nt• Inv•4lm•nts sl•t•d •t th manaw¥' sin9 lty 1¢¥. In u•• Liabilit18¥ or• r•¢Ogni wh•n gs)od# wvw hm be d•fv•r•d or th•r• th conthr•d to b• rnasonable 0b1Y th•1 a contirqont li•Lwill gy0. (g) Fln•nc• Fin4nc• tho0• wth•r• sub•tinlidfry dl borth •nd rfsks rf ol the Immd a$90ts ar• assthned by the charlty. Assets acquir•J throug Sh knas•s 4r• ¢4)it4liwd as tanglbl• fmd ass•t$ an¢J depTeri•t•d over Ihe shorterof th• t•m of th• th8• and their eslimated uMfvI I•$ • stste¢l in not• 1ldl. Th• flft44nce eh•rges ffthded in •TLh r•nl•l p•n•rrt •rn C•1$1¢ to SKW•Ad tm t)vA 10•so t•m accordlng to th• amounls oulJt•nding. Obwbons und•r fina knas8s ar• Induded in cr•drtors not of th• ffinn cMro•s r•ting to futur• Per$. Unr••trlthd R••trl¢t•d fvr*d• Total £ots) Totsl £(M)O 2 M•mbor•hlp Incom• Sub$cripUons 43 10 74 10 74 52 3 Donatlon8 and199acles Donations lfteom tax r•eovornd 104 104 We have been that wa are to recefve a re¥iduw loo•ey und•rth• wll of an ox-momber. Th? amount8 of thi$ ISLY 18 not W knMI. 4 Inv•stm•nt Incomo Bank and othar interest Incom& dth'lxrtiM8 10 57 67 10 57 67 57 Page 15
U3A IN LONDON NOTES TO THE FINANCIAL STATEIAENTS FOR THE YEAR ENDED 31 AUGUST 2024 fund Total Total £OLN) £oc S Incon from ¢harftable actSvlti8s Evonts any $urrfSry incomo". Easter eonlererKe Outings and cone•rts Sundry ino)m• 6 Co•ts of rnlslng funds Paymtnts lo other charitie91s•• nole 19) Public Support cosls- not• 9ld) 15 7 cts of •tudy group• Accommodatlon Other dire colts Supp)rt cosl$- s•• Thgt• 9(d) 127 127 125 22 31 178 31 31 192 8 Coat8 of ov•nts •nd of lundry Incon East•r c¢)nf•r•nce Outing? 4nd rA)nC•ts Sundry Inc4n Suppet eosts- not• 9ldl • Total •xpgndftur• intsludod. lal R•nt and lIn& h•• YbI Le8sed wmm¢)dat e•ns•d attcomrnodaln Additlon•l armmod•iion 133 133 133 133 fb) Prolwkwl GhArg•• Plyo• to Ihe a3110 CompftsiNJ chaTge3 in th)rN¢110ft wth.. lTrSepgnd•nt audit Pag8 16
U3A IN LONDON
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
9 Total 6xp•ndlturè IcLN)tinue
U3A IN LONDON NOTES TO THE FINANCIAL STATEMETr4TS FOR THE YEAR ENDED 31 AUGUST 2024 10 Tangible flxod as8•ts- contlnu•d No fvrthw èxp•ndilure on tarvJibkn fix ass•t$ had b••ft aukn'sed ty lh• trustees at 31 August 202412023.. nill. Tangible fLxed a$sets with an aggregat• ¢08t Of £21.0 h•1 Ien deprK4th rmain•d in us¥ 8131 Auqu3t 202412023.. £27.oCl 024 11 Invo•tments Coyt Sokj in y•ar Addits'ons GAlnslllosJ8sl M8th•t Y•1 1,981 2,103 1.942 The inVlM•nt1 eompn'md unrf in th• COIF Ch•rib•$ fur#ts list ts•kMT. The ch#ngM in m•rk•l yYe ov•r th• y•ar fe1kn. Bfou¢hl f¢Mrd Iwldl h y• R•4lls•d Ur¢rno1is8d gainllb$$i gainllkissl Cani•d foThvard Ethical FuTrJ 18 207 Inv•slThnt Fund 1.753 143 1.942 181 2.103 2023 1.9ei 12 Debtor• and pr•wym•nts Incomo tsx reLy)v•r•bl& Other debtQT$ Piep•yrn•nts 182 17 199 17 17 13 Ca•h at bank and In hand Curront acUnt5 and ¢a¥h in hand D•mand d•po*t 57 10 67 282 14 Creditorn pay•bl• wlthin one yo•r MeThbethip $ubsryiplKJns received in Other r¥Dditors and accruals 28 Pa98 18
U3A IN LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15 Analys18 of net wets betwn funds Tanglb Hninc• Totsl 2024 £000 £000 Unrngtrl¢t•d fvnd• G•norBI ld Ckn$KJnatod fiMKIs 27 27 2,103 2,396 Rvtrlct•d fvnd• 27 2,396 16 Mov•mart8 In unr•stslcted 8lll•ne• at Inwm• Exp•ndllw• Gabn• on Trnn•f•r• 31 Auqu•t 2023 Balonc• at 31 AugU•t 2024 £000 fvnd¥ G•n•rnl fund 740 245 12tr)1 181 D••lqn•t•d fund• S•• b•kAV 2.190 X+22 875 IA50 245 2CQ 101 0•r•I Ipx 1193) 740 1,450 2.125 297 193 2,190 D••Wt•d lund• An amount rf £1.450.I>JJ 12023.. £1.450.CXQI. boon aiJ• fmm th• gw•ral uftr••trictod fund io h•ip 8•cur• th• Charitys ne•ds lor •e£ommodaknon in tutur• y•ar&. It also I1deS Ir(Vn• to SUPpMent rn•mberghip incomo And thus 1P eov•r th• L5 running tosts wilhtyjt MIn9 on la98$ and •x¢8ptional donations, th• inudenc• olwhK is aknys uncertain.. wthojt siwfficarrt •rr)unls of fflvestrn•nt irtrynè. subscription rntes wouh1 hav• to b• ww•u•d $ubstan)81ty. Thi• fiuth•r ai a fufyryo of unloreseen drcumstane*s. Page 19
U3A IN LONDON
NOTES TO THE FWANCIAL STATEMENTS FOR THE YEAR ENDeD 31 AUGUST 2024
17 con¥*m0n¢ und•r non<ancellabl• 01411ng l•a
At 31 guSt 2024, the charity Irad a non