Reigate & Redhill u3a Annual Report for the period ended 31 March 2024 Registered Charity Number Reigate & Redhill u3a is a charity registered wff(h the Charity Commission under registration number 297529. All general Corresponden should be sent via the contact section of the rru3a.arg.uk website in the first instance. Objectives and Activities The primary objective of Reigate & Redhill u3a is to facilttate sharing educational, creative and leisure activities for older peO5e no longer in full time employment. This is achieved by fomiing small, intera¢tive groups of those with common or related interests (who usually meet in each otherfs homes). or by organising general monthly meetings with expert presenters on a wide range of subjects and by running trips to places of interest. Structure, Governance and Management The Reigate & Redhill u3a was constituted in 1986 as one of many local u3as which are operationally independent of {but also a member ofj the Third Age TNst, a separate registered and incorporated charity. As such, it abides by the objects and principles of The Third Age Trust and the 2014 Principles of the u3a Movement fonn the Goveming Document for the Reigate & Redhill u3a. In the period under review, the u3a was govemed and managed by the Committee consisting of the following trustees: Appointed to Commtttee 2010 2017 2018 2018 2019 (up to 9 October 2023) 2019 2019 2020 2020 2021 2022 2022 2022 Name Pat Cockett (Chair) Hilary Loney Martin Livesey Lynne Scott Douglas Deb Chapman Lloyd Chapman John Cousins Gill Haimes Sheena McKenzie Angela Austin Jill Flower Nikki Stoddart Heather Earl Financial Perfomiance For the period to 31 March 2024. Reigate & Redhill u3a made an r881 surplus (period to 31 March 2023: £3,495 deficit), details of which are set out in the followng pages. 11 Page
Reigate & Redhill u3a Ststement of Flnancial Actlvities Period ended 31 March 2024 GTOSS Gross 12 months to 12 months to 31 Mar 23 All £ unless sta Notes Income: Subscriptions Grft Aid Commission Bank interest Outings Inell Entertainments Inel} Christmas Tea (net) 12,755 12,755 2,266 482 400 438 90 11,972 2,133 19,118 18.680 1.131 101 143 Total Expenthknre: ConlribulK>n to National offi Mailing National u3a magazine National °Beacorf' admin system Hire of halls & speakers.. Monthly Friday meetings Grwp leaders meeting Committee meetings Venue subsidies Other meeliTrJs Printing.. 'Here & Other Printing Postag8 Slalionery IT Costs Sundry Christmas Event U3A Today Ino event in 2023r241 3.516 2.223 913 3.516 2,223 913 3.304 2,079 857 2,924 2,924 3.216 376 3.582 234 376 2,377 234 415 2.480 469 616 49 477 283 335 139 7(X) 616 2,235 4T7 2,169 397 357 139 71XJ 439 Total Gross Income & Expenditure 36,824 35.943 Net IncornellExpenditure) 13,495) Reconciliation of Funds: Total Funds Brought Fonvard 11,147 14.642 Net Income (3,495) Total Funds Carried Forward 12.028 11,147
Reigate & Redhill u3a Balance Sheet as at 31 March 2024 All £ unless stated Note 31 Mar 24 31 Mar 23 Tangible assets CurTent assets: Prepaid expenses Debtors Cash on deFQSit Cash at bank & in hand 11 12 1.456 2,329 22,035 3.881 23.791 2.477 Gross currenl assets 26.602 29.701 Llabilities: Receipts in adce Accruals 13 14 113,5T4) 1 I,CM)1) (16,0481 (2,5071 Net current assets Total Net Assets 12.028 11.147 Totat Charfty funds 15 11028 11.147 These accounts we provisK)nalty apFwved by the Trustees on 30 April 2024. Approv81 is to be fcmalty nfirmed on 3 June 2024 and the accounts spned on behaw of the Trustees by.. aLl&,fv Patrirya C(ett- Chair Matin LNes8y FCCA- TreasLKer
Reigate & Redhill u3a Notes to the accounts for the year ended 31 March 2024 Note 1 Accounting Policies a) Basis of preparation These accounts have trEen prepared in accordance th the Statement Of ROrnMended Practice ISORP) applicable to chartties covered by the Financial Reporting Standard for Smaller Entities (FRSSEI. the Charities Act 2011 and applicable regulations. b} Income recognition All income is recognised once the chanty has entrtlement to the income due for the period. c) Expendituro recognition Expenditure is accounted for on an accruals (debts due) basis. All expenses are allocated to the applicable expenditure headings in the statement of financial activtties. d) Tanglble assets Any equipment costing less than £3,WO is depreciated 100 % in the year of acquisition. A register is maintained to keep tra¢k of their physical location {see note 9 below). Note 2 Subscription Income & Gift Aid Overall membership numbers {induding associate members) have continued to increase, reaching 961 members as of 31 March 2024 (31 March 2023: 913). Members, subsrrriptions cover the u3a financial year 1 April to 31 March. The subscription renewal period begins 3 months before the start of the finan¢ial year however, such that most members subscriptions are received in advan of the year to which they relate. On the other hand Gift Aid is claimed in aearS and may therèfore not be receÈved until after the year to which tt relates (as was the case last year). Note 3 Commlssions Under a new arrangement set up by the Third Age Trust, rf a u3a member books a holiday through Riviera Travel and nominates their home u3a, a commission will be paid. The very first such ¢ommission payment was received this year. Note 4 Bank Interest In¢reased and sustained high interest rates delivered significantly higher inrne in 2023124. Note 5 Events Athough only expected to break even, u3a outings delivered a signÉfirAnt surplus in 2022123. In order to address this, a less conservative approach to pricing was adopted for 2023124, resulting in a much lower surplus this year. In 2023. the tradliional Christmas Tea - an event paid for by members, purthase of tickets - was replaced by a Christmas Entertainment. which was free of charge to memb8rs. The net income received in 2022123 was therefore replaced by a significant expenditure in 2023124.
Reigate & Redhill u3a Note 6 Contrlbution to National Office Our contribution to the general runnirg costs of the Third Age Trust (as well as the costs of mailing its national magazine and the costs of the 'Beacon' administrative system) is determined by the number of members as at 31 March each year. The general contribution rate remained unchanged at £4.CKJ per head this year but was based on 879 full mernb8rs for 2023124 (826 for 2022123). Note 7 Meetings The 'April 2023. Committee meeting and Monthly Friday meeting were in fact held at the end of March 2023, resuIng in hKJher expendtiure in 2022123 and consequently lower expenditure in 2023124. Fewer other rneetings (e.g. new members. meetings) were held in 2023124, also reducing costs. This year however, the annual group leaders meeting was re-established post-pandemic. after a gap of some two and a hatf years. Note 8 "Here & NO magazlno 'Here & NO is published three times a year and was historically the costliest single spending item within the u3a's overall expenditu. The cost is not limtted to the printing of the magazine itself. but also includes postage costs, which are mainly (81%) in relation to the distribution of"Here and Now. by the printers, and stationery {i.e. envelopes). Due to the move to mainly online publication this year (with only a limited number of physical copies being distributed to members) all of these costs reduGed significantly between 2022123 and 2023124. Note 9 Tangible assets No tangible assets were acquired this year (2023.. TV card payment readers and a replacement u3a laptop were acquired at a total cost of £348). Note 10 Committee remuneration and expenses The trustees all give freely of their time and extErtise without any fom of remuneration or other benefit in kind {2023-. £nil). Elements of the charity's administration expenses e.g. prints'ng, postage and paper are inevitably paid for by, and thus reimbursed to. trustees. Note 11 Prepaid expenses 2024 2023 Venue subsidy Events Website Hosb"ng 90 1,366 85 155 Total 334 Nots 12 Debtors Al£ 2024 2023 Third Age Trust {national m4azine) Gift Aid (note 21 Bank Interest 28 2,133 Total
Reigate & Redhill u3a Nots 13 Receipts in advance All£ 2024 2023 Members. subscriptions Inote 21 Events 10,872 2,702 10, 5,082 Total Note 14 Accruals 1£ 2024 2023 Here & Now Iprinling & distritmjtion) Venue subsidy Monthly Friday meeting Other 371 5* 637 182 Total Nots 16 Total funds Balance at Balance at 31 March 2024 i £ ome enditure Charity's unrestricted fund 11,147 36.824 {35,9431 12,028 Note 16 Post Balance Sheet events There have been no material post balan sheet events. Independent Examinerfs Report I report to the Trustees on my examination of the ac£xJunts of Reigate and R&Jhill U3A for the year ended 31 March 2024. As the Trustees. you are responsible for the preparatFon of the a(rounts. I have examined the books and records and confimi that the Statement of Financial ActivFbes and Balance Sheet are in accordance therewith. I confirm that no matters have come to my attention in connection wrth the examination, that Vuld cause me to ha any ¢oncems about said Financial Statement and Balan Sheet. Philip Jones M.A 7 May 2024