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• FInanc￿l 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 ￿n￿ty•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 K*vk Gail L Hazelanrffj Lvms Sh•l••q Shld Il"ch*rd &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 H￿1 213 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 p￿rniseS 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 •*ivI￿O on th• premis9s and outstd• th*m. 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. H￿￿a¥•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 dI￿tOrS, rew requyed ￿ c•mp•ry law. A substsrth•ty rèductd sublerwle￿ Is aval1A￿& for m•mb•rs in rfjcoipt of Trh*llare benefilg. Admini*rntNe det*iLs 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 m￿b￿S 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 p*XirApatbng In other •caiv#i•s pay a kY•S•fi￿ •1 kx•l corr*nunity ovorrts as th• ¢l)•y to h•lp defray th? co¥li. HaMp81￿d Summer F•ir. USI in Lon¢Jon 1$ • of Th• Third Ag9 Tfttst. wh 18 Iho cHrdin4tlng boty lor U3￿ thpxy1￿lJt 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¢f￿yM 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 br*9. W• ¢￿I￿dIY provhl• ov•r 150 drfltsr￿t 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 h*mln9 and l••ming from eath t•mB, Irom S•o•mb8r to Juty. Talks vJ•rn DI￿r. tt offers no c•rtiftates or degr￿ and rn•mbers 01￿0 on each mo￿8Y ol l?mi by outsid• speakers on sluty fcr ¢h• Oeayurè of leamirvJ. Th• It￿er¥ of >tu¢ty lopiu of 9eTwJI ird•rtsi, and addl￿OnsI 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 CL￿p•raI￿v• summervatauon. prec•ss. Many l•¢tym •r• n￿t L*1 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• adMini￿rnI￿n ol lh• Siudy gTVUPS. Othor aeiivities and the thartty rtsell- ¢8ffi¢d out by members l￿dUd1￿4 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 commi￿10n.$ 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•n￿l￿ Of disabdlly. Pagè 4 Chanyb durfng the yoar Ineom and expondl￿r0 IrK•)me was £SI(￿o l•ss Ilwi in t￿ prnVi0￿ year. Thls t*j￿n9 ttto lo 31 Augu312023Nbt c*l•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.1N￿d 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 r￿0¥?[•￿ 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 sllni￿r •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 pro￿d• detftlkn oftm and ha￿11110•. Al 31 AUg￿t 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￿ 4Xp￿ddul•, updaung COmPLrt•rn and proi•ctor4. Flnanclal r•vl•w In¢om• and •xpendltuM i1¥￿n￿ts, ar• dl CCW An knv••lm•nt hou￿ •X(ausiv•ty IOT ¢hgrfti•* and ho￿1 aut1k￿ltIOa. 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. 202*24 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• c￿rty$ b•l•r￿S of eath al b4nk In hand amount•d I to￿1 ￿ £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 Ivlv￿Int 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 ¢waI￿5. Th•r• aivj no rnstrkted fund*. The ch4ritl3 policy is to set a￿de as a degwJnate(l fv￿1 the ieseNes n••d¢d to h￿P S¢￿Te th• chartys needs The m•i*•rn ￿ th• ExéeuUv• con￿￿￿e are Ihe for 4wArnrnod&iion th future swrs. lo cu4er ￿lt••% of th• ch¥lty for the purp)BO5 of tharity lrn. clrwm￿4r￿eS and to prtyide to Supplen￿t th• Tlw •r• th• diredoryJ of the 4JMipany for thè charitls M&nberS￿P 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 I￿n￿c￿nI omf4Jnls of Invostmwtt subscriptiorvd for èvènts ￿rnts basls a8 all inc￿￿6, subscription rniéx WOU￿ have to be incrnased OIW m•mb•rn. ubJtan*'ally. C*y to rnspoNbllty lor tho ¢y th• d)•rlty Tho bal•nc• Of th• de#lgnat•d fvrtds at 31 Aug￿1 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• elec*sd 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 ft￿rth 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• previ￿lty beon ma4• In tKJlh fi￿&￿nt•￿t and tyurf*bMed ￿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 Comp￿13 ot A0￿Cla￿0n. 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 fj*t6d 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 UMI￿c0stUl carddal• vkno re￿N•d th• n1￿ n￿n￿r 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 9￿r4ftt••. 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¢m￿r$ of tr¢ rK)mpany ¢)n 23 Nlof¢h 2015. The •*led trustees m•y I￿Opt 14) to srA •ddttion•l trus1￿5. 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 m￿11n9. 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 y￿r 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 m￿n￿r$ to come forward arg mado in rbMlett•r5, at gener meetings and by approachirKJ m￿tsel$ who are artNO in the charws aclfvtties. ￿1 Iho M￿berS 01 th• tharity are fom81ty invlted èach yaar to r￿mInate ¢andtht¢s fof •l•ction ￿ trusle•s at lh• ￿nual gew•I MI￿1ft9. In p￿paring the financ4al s￿0￿nI¥, th• Ex•wt4V• C9rnmitt￿ musl". select sutable KminlirvJ pol￿•$ #nd thon apply Ihem o)nsistenty. . mak•iudgments and •Sb"males￿th 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 f￿a[￿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• fin*r￿al sta1¥m￿¢S on th• goln concarn b851$ unles$ il is inapPr￿n4t¢ to prnsum• that the c*gntyv￿l 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 Inf0m￿tIon d ha¥• made a¥•latAe ￿1 the inlofftialion and •xP￿nItr0n1 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 d￿d0$¢ 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 ot￿r 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 p￿dU￿* C￿lj.n￿o to b8 In r•twn•d lo T￿ Old Tc*•m H*ll Sept8mb•r 2021 •nO pl8e• to th8s• •nd*. momtyofship num￿1? retuming ttrlvards pr•£ov*l l•v•ls. A r•¥dutth te pffjpo￿d ai th• annual yn•rnl thJl Knox Croppw LLP h r•papOnted a• IndeF￿dent auditorn. In Ihe I￿h( ￿ Bubstortial 1•g•ei•s r•c•lv•d In recent •rn the Ex•cutiv• ConThrtte¢ 1> howful ol ¢￿tInUIng to sub*th"se thg annud Sub￿N￿)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 l*r 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. (SOU￿ryI Pa98 7 INDEPENOENT AIMxfoRS' IEPORT TO ThE MEMBER8 OF U3A IN LONLX)N Opinlon We have audrte(l th• fflnanryal ststemenis of U3A in LOr￿On 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¥jI￿l•s. Th• financaal rwting fr8rnthb￿ th•1 has bfr•n appli•d in thdr preparation 13 ap￿￿ble law and Unrte¢l ￿"T￿0M AcCO￿ting Standwds (Unrted lfjngdom Genefalty A¢copt•d Accounting PractK•l, induding Finanud R•poiting Standard 102 Tr FInV￿al Rawling SlaNthrd appliiabl• in th• UK and R•pL1￿1¢ of Ir¢land'. In our opinion lh8 stalements.. Gwe a Irue and I￿1 view ofth• st•t• ofth? dwiith *ff•irs a¥ •t 31 Augusl 2024 and of its incornin9 T•swr¢w appI￿allOn ot r•SoUr￿. Inc*Alng 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 apPl￿tI? in Th• UK and • hAv• boen m)1￿d m accord•r￿ with the reqUinn￿lS oflh Ctynp•ni•s A(a 2￿￿. B•*l• loroplnlon W? condueted oui a￿jaI in acfud•rthvAth Inl•mallonat St•ndwds on Audi1kn9 (UIQ IISAS IUKII and appIl￿bkn i**. Our respon¥t￿.1rtI￿ und•r Imse standards •rn further descntsd in ttre AuLlt*y5 ruwsibllit*$ for th• of th• fin•ncAal Stat￿￿￿ntS s•ction of ￿Jr r•wt. W• ar• Ind•wd￿I ol th• ¢hani#bS• comp•ny in accordanc8 wih th• •thie41 Nquhrnents ihit ar• relevant to our audil ¢)f th• fin8n¢id Stat•M￿ts in th• UK, induding th? FRC'S Elhie41 sI￿¢Jord, •nd w• h•v• olher othical respon*blrtle$ 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 COn￿n 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 con**1￿¥ that. indNKlu•ltY or m* cast 3lgnthe8nt doubt on the thanlable cUy slated in ow r•port. w• do not •xpress l￿ffi Ofwsu￿C• condusion ther￿n. In C￿neCtIon 4wth tyjr audit of th• financial 8tat•m•nts. ow re9pm￿bihfy is lo read tho oth•r infoftnat*)n and. in dowig so. c1)n￿￿or I￿￿•rthe ollw inforrn•iMyb i• mat•ri*ty fft¢onSi*t•ntt￿I thè fin•rti•l 8tal•men¢s or c44r kn￿￿•d98 obl8inod in the 4utht orotheThw"s¢ appears to be materialty misstated. Jf w¢ id•ntrfy such matenal Inconsistèn￿•501 4ppaTenl m¥1￿01 mi3stsl•ments. ar• rwuir•d to d&t•min *tfftth•f there is a mat•rial rnisJt•twnw* In th fmanci81 st81s￿nIS or a rnalerial Ths6tatwnenlofthe othor ￿f0￿mOti¢￿. Ir, bas•d on thg %bt)rk we have perfomwd. we conclude that th•rn is i mat•rial misststement oflts's other infomMIM. ￿ or• rtrquired lo r•porl thalfthtt. Wo h•ve nothing to raport ￿ this r•gard. Oplnions on oth•r rnatt•rn prwrib•d by th• Cornpanl•s Act 2006 In ow opirtion. bas•d Ihe wort undertoken in th• cwse ofthe audiL . th• infomiah.on given m the Report ofthè Trusttss ftythè y•w lor*thith t￿ fThnc4al 8t•tam•nts are prepared 1$ eon*st•nl ￿th the finan¢¥al slalements." and • the Roport ol thè TNst••s be•n yep•r•d li ACC4rf4nca legal r8qulr•m•nts. Page 8 INDEPENDENT AUOITORS. REPORT TO THÉ MEMBERS OF U3A IN LONDON {¢onlin￿dI Matt•rn on f*thi¢h 4r• reqvbred to i•port by •x¢•ptlon In the INJM of the kntythodge and und¢r5tandiNJ of chArltAbl• c*mpany 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 mattersT*thero 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 h*ve 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 m*le. or wo have noi reutved au the in1ormat￿n and explanations require Igr our autht., or • the trustees w•r• not ￿ts11*3 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. RMpoti*ibiliti•* 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 olcom￿nY 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 C￿1￿91 4$ th• tNst••s deterni￿ ig c•isary to •naNe the preparntion of finan¢Kql statom*nt$ 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 r*L￿t￿ to concwn and uling t￿ goirq coneèm basis of •¢¢¢unllng u￿08$ th• truIt￿$ erthar intend to lh• th•rilabb ccffipany ¢¥ to C4•￿ owration•, or have no r•Alisth"c attem*11￿ but tts do 30. AudltoV• r•wn•lbillti•s lorth• olth• finAnel•l •t4t•m•nts Our obJ'¢div•s ar• lo obtain rea￿nabl• uiurnnc• ¥hffjth•r th• fi￿n041 Jtthm8nt• •• • vhK>le •r• from materfAI m1s3tat•m￿t. vh￿1h1r to fraud or •rror, •nd to iMu• a R•wl ofthe Indepgndent Audrtors Ihat Inc4ud•4 our O￿nIon. R•Oson￿K* assurnnc• is * h￿h levd of •Muran¢•. ￿Art is not a gu•r•ni•8 th•t •# •udrf ¢onductgd in AC￿r(lan¢t¥mth ISAJ IUK) ￿$1 det•et a m￿orial misstatoment when A gw$t$. ml$$tale￿nts 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￿ fin￿rIal Jt•i•m•nts. lffe9ulofi￿.¢j, Includlng fraud, ar• InstarKe$ of nC(trC￿pll*r￿ wth la￿ and r•gul8tions. Wa dosiyn Fxoe•dur•s In lin• OUT r•spon*'tslitl*S. 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•t*ll•d b•ltsw. Tho th¢ntabl• company is r•quii•d to compty wrth (>Jmp8ny law ond charity L*v as applubl• in England and Wales and. bas•d on our kntrA•dg• ol it$ activkn"es,we l(lenlrf*d 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 requIr￿ent to pr¢Jpety ar¥)Junl for r•stnd•d funds, thwh th￿$970￿8v￿Ih manAg8rn•nt and B rev￿Of the dotsjrnthled wDc•durns and controij. Th• &udrt teom. Is experfenceJvor*Ao {Incrn#soyd8creasa In l•gacy recdvthe {InueAseYde￿8j• in other debtors aTrJ {C•¢r••s•yincmge in subscriptions in adv￿ Inmas8lldecrnas•l in commitrnent under pyoperty Infnasel d•creas• in othw u•ditor4 Ind 4c£ruals t cash provldod by I (used H)) opo¢atlng adivit 66 (6n (571 12 39 10 1161) 12 12 12 14 14 182 (182} {2} 19 (10n Cash IlowB from In¥••tln9 *dlvltl•• DlJtrfbuilon$ and Inl•r•sl Ifom Inv￿lmentI 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) B*sis of pr•parndon of th• fin•ncial sl*t•m The financial slal•menls have been ￿Pared in ac¢ordarKe TrI￿h the Charit*s SORP IFRS 1021, 'Accounting 8nd Roptyting ty charit￿$.. Slatemenl ol Rewnm•ndod a￿￿￿bI• lo charites preparing I￿1r accounts accordance wth the Finants81 Rep)rting Slanlknd aP￿iCa￿e in Ih? UK and Rewblic ol Imbar￿ IFRS 1021 l•ff•cifve 1 January 20191. wilh Finaftcial Report￿ Stand•fd 102. Th• Finanad Reporting Standard Appli¢abl• in the UK and Fl•publlc ol Ir8laNI'. and the Crynpanigs Acl 2(PJ6. The functional C4Wfenoy is pound stsding. A gurnmary of th? mor• import•nt act￿m￿r￿1 polKJ•s belryw. The that th•r• aro ￿ m#•rl•l atsc￿t th• char*l8 abilty to Conlin￿ a$ • 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$tment to the caffy.ro vdue of ass•ts and li#￿'1rtW. The Charity is a pJbh'cb￿ofit •nty. Ibl In¢0m• bgcriplThi incorn• ar￿ IM I￿01•d r•ezN•rnbl• YKc4ne t•x •r• xcouni•d fty wi tm lo tMI r•lg1•, Income lax r•¢ov•r•bh on donatlong in ￿ >wr the donat￿% *r• r•c•iv•d, legvi•8 When their r•rAipI by the be Thasur•d wth r••sonaN• c4rl￿nty, IrKome events ￿*nI tak•s p￿t* at)d Incom& th$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$ary I)r9￿￿8￿tIonal suppori lor th• *divibe•. Tlw indude an apportic￿m&ni. bavd ¢￿ rd*ti￿ floor #fvas, of the r•nl •nd oth•r •xp•nses d the le•g•d pr•mi*•s and 0ovwn8r￿• co8ts Ise• belowl Supp)rt cojtg are cal•d in propor￿On 1¢ th• aggr•gAi•s ol lh8 incom• lothor than 1•9Kies •nd in¢tyn•l and th• trfbutabh •xpendllur• of ••* of th• c•l•goth r•f•r(•d to abo￿. Govomaneè costs ttfflprfse IM costs d ext•m* •nd ini•mal I￿. 10gal lor th• tnjit￿5 on corFKJrai• m￿Ors4nd thom a$￿al•d￿7th 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 r￿ed 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 dep￿CIat•￿ 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 011￿e equipment 4 y4ers Cgmputer gquipment 7 J*ars Oiher •qUbpment and lumrtwe 10 )*ars Th• rèsulting n•t tthk Val￿ af• al b*anc8 str*8t dale addit￿n￿ •nKJUrts rn willen off rf appropft4te. {•) Inv••tm•nt• Inv•4lm•nts sl•t•d •t th manaw¥' s*in9 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 ￿0b￿1￿Y th•1 a contirqont li•L￿will gy￿0*. (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* S￿h 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)v*A 10•so t•m accordlng to th• amounls oulJt•nding. Obwbons und•r fina￿* knas8s ar• Induded in cr•drtors not of th• ffin￿n￿ 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$ I￿SLY 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 an*y $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 c￿ts 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 Suppe*t eosts- not• 9ldl • Total •xpgndftur• intsludod. lal R•nt and lI￿n￿& h•• ￿Y￿bI* Le8sed wmm¢)dat e•ns•d attcomrnodal￿n Additlon•l armmod•iion 133 133 133 133 fb) Prolwkwl GhArg•• Plyo￿• to Ihe a￿3110 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 Gov•m8n¢• C￿$.. Audit fee Oth•r 9tsv•MIn￿ c￿$ Other support costs 19 39 39 Alloc•t•d •1 loMovA- not• 1{¢).' R818ing fund8 Study groups Events •nd sundry 31 31 39 39 10 Tanglbl• flxed u••l• C•mput•r •I￿P￿rt •qulpm•rt •nd furnitu*• Totsl rotal eooo Co•t Brought foFwBrd Digpogalg in ￿•T Addrfions in >*ar 52 1251 99 1251 19 Iso) 28 78 108 D•prnei•114)n Brougm forward Oisposals in y•ar Charge lor ￿ar 52 12SI 92 (50) eo 1251 12 92 24 27 51 Not book v•1 at 3110812024 27 16 Netbookva at 3110012ts23 16 16 19 Fulty depreoaled assets Tr) I￿er in use ha￿ bBen dimwwled f￿M Ihe wxwnts P4e17 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 I￿en deprK4th r*main•d in us¥ 8131 Auqu3t 202412023.. £27.oC￿l 024 11 Invo•tments Coyt Sokj in y•ar Addits'ons GAlnslllosJ8sl M8th•t Y•1 1,981 2,103 1.942 The inV￿lM•nt1 eompn'md unrf* in th• COIF Ch•rib•$ fur#ts list￿ ts•kMT. The ch#ngM in m•rk•l y￿Ye 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 ac￿Unt5 and ¢a¥h in hand D•mand d•po*t 57 10 67 282 14 Creditorn pay•bl• wlthin one yo•r MeThbethip $ubsryiplKJns received in Other r¥Dditors and accruals 28 Pa98 18 U3A IN LONDON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15 Analys18 of net wets betwn funds Tanglb Hninc• Totsl 2024 £000 £000 Unrngtrl¢t•d fvnd• G•norBI l￿d Ckn$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 ￿ ai*J• 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 I￿￿1deS Ir￿(Vn• to SUPp￿Ment rn•mberghip incomo And thus ￿1P eov•r th• L*￿5 running tosts wilhtyjt MI￿n9 on la9￿8$ 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 $ubstan)81ty. Thi• fiuth•r ai a fufyryo of unloreseen drcumstane*s. Page 19 U3A IN LONDON NOTES TO THE FWANCIAL STATEMENTS FOR THE YEAR ENDeD 31 AUGUST 2024 17 con¥￿*m0n¢ und•r nonoM in ￿•r8 10 31 August 2023 4TrJ 31 AugU$t 2024. Page 20