Reigate & Redhill u3a Annual Report for the period ended 31 March 2023 Registsrod Charity Number Reigate & Redhill u3a is a chariiy registered wth the Charity Commission under registration number 297529. All general Corresponden￿ should be sent via the ￿nts¢1 section of the rru3a.org.uk website in the first instsnce. Objectives and Activitles The primary objective of Reigale & Redhill u3a is to facilitate sharing educational, creative and leisure activitses for older people no longer in full time employment. This is achieved by forming small, interactive groups ofthose with common or related interests (who usually meet in eath other's homes), or by organising general monthty meetings with expert presenters on a wde range of subjects and by njnning trips to places of interest. Structure, Governance and Management The Reigate & Redhill u3a was constituied in 1986 as one of many local u3as which are operationally independent of (but also a member ofj the Third Age TTUSL a separate registered and incorporated charity. As such. tt abides by the objects and principles of The Third Age Trust and the 2014 Principles of the u3a Movement form the Goveming Document for the Reigate & Redhill u3a. In the period under review, the u3a was govemed and managed by the Commttlee consisting of the following ITUStees'. Appc4nted to Committee 2010 2017 2018 2018 2019 (up to 25 De￿mber 2022) 2019 2019 2019 2020 2020 2021 2022 2022 2022 Name Pat Cockett (Chair) Hilary Loney Martin Livesey Lynne Scott Douglas Ann Weaver Deb Chapman Lloyd Chapman John Cousins Gill Haimes Sheena McKenzie Angela Austin Jill Flower Nikki Stoddart Heather Earl Financlal Parfomiance For the period to 31 March 2023. Reigate & Redhill u3a made a £3.495 deficit Ipericxl to 31 March 2022.. £101 surplus). detsils of which are set ¢Xrt in the followng pages. Pagelof6 Reigate & Redhill u3a Statement of Flnancial Activiiies Period ended 31 March 2023 Gross In¢ome E Gross 12 months to 12 months to 31 Mar 22 unless ststed Notes Income: Subscriptlons Gift Aid Bank interest Outings {netl Entertainments (net) Chrfstrnas Tea (net) 11.972 2,133 190 23.351 647 1,820 11,972 2,133 19) 1.131 101 143 11.527 2.058 22,220 546 1.677 454 Total Expendlture: Contribution to National office Mailing National v3a magazine National -Beacon' admin system Hire of halls & speakers.. Monthly Frid8y meetings Group leaders meetin9 Committee meetings Venue subsidies Other meetings Printing.. "Here & Nowr Other Printing Postage Stationery Sundry U3A Tc¥Jay 2.706 1,931 893 2.079 2,079 857 3.216 3,216 2.460 260 185 870 127 415 2.910 541 415 2,480 469 430 72 2.235 2.235 1,972 2.169 2.169 748 754 439 1,384 589 364 113 75 17 829 456 Total Gross Income & Expendlturfr 40,707 202 Net IncomellExpenditure) 13A95) Reconclllallon of Funds- Total Funds Broutht For¥Md 14642 14,541 Nel Income (3,4951 101 Tolal Funds Carried Forward 11,147 14.642 Page2of6 Reigate & Redhill u3a Balance Sheet as at 31 March 2023 AJI £ unless staled Notes 31 Mar 23 31 Mar22 Tanglble ass•ts Current assets: Prepaid expenses Debtors Cash on depostt Cash at bank & in h8nd 11 12 1.456 2,329 22,035 3,881 338 22,022 3,186 Gr¢s5 current assots 29,701 25,596 Liabilities.. Receipts in advance Accnjals 13 14 116,048) 12.5071 110,3611 1 5941 Net current assets Totsl Net Assets 11.147 14642 Total Chartty funds 15 11,147 14.642 These acccMJnts were provision81ty approved by the Trustees on 2 May 2023. ApproVa&4￿1)e formalty confimied on 30 May 2023 and the acccunts signed cffi behalf of the Trustees by" Patrtcia C￿ett- Chair MaTtin Livesey FCCA- Treasurer Page3of6 Reigate & Redhill u3a Notes to the accounts for the year ended 31 March 2023 Note 1 Accounting Policies a) Basis of preparatlon Thes8 accounts have been prepared in acc(Ydance with the Ststem8nt Of Recommended Practice {SORPI applicable to tharities covered by the Financial Reporting Standard for Smaller Entities (FRSSE). the Charities Act 2011 and applicable regulations. b) Income recognition l income is recognised once the chartty has enti￿rnent to the income due for the period. c) Expenditure recognition Exp8nditure is accounted for on an accruas (debts due) basis. Atl expenses are dlocated to the applicab18 expenditure headings in the statement of financial activities. d) Tangible assets Any equipment costing less than £3.OLX) is deweciated 11XJ% in the year of acquisition. A register is maintained to keep track of their physical lo&qll￿ (see note 8 below). Note 2 Subscription Income & Gtft Aid Members, Subscrrptlc￿S cover Ihe u3a financial year 1 April to 31 March. The subscription renewal period begins 3 months before the slart of the financtal year however, such that mosl members subscriptions are received in advance Df the year to which they relate. On the other hand Gtft is daimed in arrears and may therefore not be received until after the year to which it relates (as was Ihe case this year). Nots 3 Events For the first time since the start of the coronawrus pandemic. a fijll Pr￿ramrne of u3a outlngs and holidays took place this year, compared to just 3 events last year. It was therefore difficult to judge the likely level of demand and pr[￿ Ihe events accordingty. vthich resulted in the generation of a significant surplus in 2022123. Steps have been taken to addres5 this issue from 2023124 onwards. Aftemoon Entertainments and the Chistmas Tea were also re-established in 2022. being held fr the first time since 2019. Note 4 Contributlon to National Office Our contribution to the general running costs of the Third Age Trust (as well as the costs of mailing its national magazine and the costs of the "Beaix)n" administratwe system) is determined by the number of members as at 31 March each year. The general contribution was raised from £3.50 to £4.00 per head on 1 April 2022 and was based on 826 full members for 2022123 (773 for 2021122). Note 5 Meetings For trie first time since the slart of the coronavirus pandemic. a ￿1] programme of u3a meetings - incfuding the first meeting of a new consultation grLNJP - took place during 2022123. Meeting costs therefore increased signifiogntty between 2021r22 and 2022123, w4th the exception of the group leaders meeting, where no event vms held during the cu￿ent year. Page4of6 Reigate & Redhill u3a Note 6 Venue Subsidies Whefe certain group actmties preclude meeting in members. homes. a venue subsidy of 50°A {up to a flxed annual limit) is payable to the affected groups. Few meetings were held in this fonnat durrng the pandemic, but actiwty has increased significantly over the last few years, such that all groups hiring v8nues for meetings have now returned to this format and mor8 groups are now claiming the subsidy than have done in the past. Note 7 "Here & NOW, magazine "Here & NoNrf is published three times a year and remains the most costly single spending item within the u3a's overall expenditure. Its cost is not limited to the printing of the magazine itself, but also includes postage costs and stationery (i.e. envelopes). In fact, 95°A of total u3a postage spending is incurred on the distribution of "Here and NO￿ by the printers. All elements of the cost of-Here and Novf increased significantly between 2021122 and 2022123. Note 8 Tangible assets Two card payment readers and a replacement u3a laptop were acquired thls year at a total cost of £348 (2022: £50). Note 9 U3A Today The Third Age Trust now sets aside a day each year to Gelebrate and promote the u3a movement. Last year, due to pand8mic restrictions, the local activities originally planned forthe day were scaled back considerably, to only an online event and some displays in local librarie5. This year was the 40 anniversary of the u3a movement however. and a much larger and very successful local celebration was held. wth a consequent increase in overall cosL Note 10 Commrttee remuneration and expenses The trLJStees all give )Tredy of their time and expertise vAthout any forn of remuneration or other benefrt in kind {2022'. £nil). Elements of the charity's administration expenses e.g. printing. postage and paper are inevitably paid for by, and thus reimburse(i to, trustees. Note 11 Prepald expenses 1£ 2023 Venue subsidy Events 1.366 50 Total Nots 12 Debtors 2023 2022 Thlrd Age Tn2St {natIC￿al magazine) Gtft lknd Inole 2) Bank Interest Events 28 2.133 158 180 Total 338 Page5of6 Relgate & Redhill u3a Note 13 Recelpts in advance 2023 2022 Memb8rs' Subsc￿ ptions (note 21 Events 10.966 5.082 9.936 425 Total 16 Not8 14 Accruals AJI£ 2023 2022 Here & Now (printing & distribution) Venue subsidy Monthly Friday meeting Events 1,688 637 182 386 208 Total S94 Note 15 Total funds 8alance at ri12 8alance at rch 2023 AJI£ ome ndfture Charfjty's unrestricted fund 14.642 40.707 144.2021 11,147 Note 16 Post Balance Sheet events There have been no material post balance shed events. Independent ExamineVs Report I report to the Trustees on my examination of the aCc￿ntS of Reigate and Redhill U3A for th8 year ended 31 March 2023. As the Trustees, you are responsible fc￿ the preparalion of the a￿nIs. I have examined the books and records and ccrfirm that the Statement of Finan(aal Activities and Balance Sheel are in accordance therev￿th. I confimi that no matters have come to my attentic in connection wtth the examination, that would cause me to have any cc￿Ce￿S aboul said Finanaal Statement alan￿ Sheet. Phibp Jones MA 18 May 2023 Page6of6