## REVIEW OF FINANCIAL ACTIVITIES Overview.
The 2021-2022 accounts continue to reflect a financially strong and active u3a despite the continuing challenges. Income is up from last year by £10,738.17 to 56,251.74 from the previous year of £45,513, this is almost the same as in 2019-2020.
Groups income has increased to £40,868.49 and the general fund income of £17,566.01.
Groups expenditure has almost matched costs at £40203.09 whilst general expenditure has increased to £21128.86, which is mainly dure to the costs of the 40[th] Anniversary celebrations.
Members have continued to support our u3a with their subscriptions and they been able to use more of the groups, which has meant we have been able to continue to cover office costs.
We have used a small sum from the bequest fund this year to support the celebrations. The fund stands at £ 34,008.49.
Accounting and Control. The accounts are based on a Receipts and Payments principle with unrestricted and restricted funds to reflect the activities of a u3a. They are prepared in
accordance with the Charity Commission requirements and they have been independently examined. MK u3a is one of the larger u3a’s and the range of financial activity is now relatively complex. A certain level of skill, discipline and control is important with the need for on-going training of all users.
## **MKU3A Receipts & Payments Summary and Assets & Liabilities 2021-2022**
## **Year to Date: 30/11/2022**
|**B/Fwd 01.12.2021**
**Receipts:**
_Members Subscriptions_
_Group Fees_
_Bank Interest_
_Gift Aid_
_Other_
_Transfer from bequest_
Total Receipts
**Payments:**
_Group operating expenses_
_Third Age Trust_
_1_
_Meetings/Conf Exps_
_2_
_Communications/Web/Datum_
_3_
_Administration/Postage/Office Costs_
_4_
_Other_
_5_
_Transfer to GF_
Total Payments
Surplus/Deficit for the Year
Year End Adjustments/Accruals
**C/Fwd YTD**
**Funds**|**General**
**Bequest**
**Groups**
**Outings**
**Open Meetings**
**Total**
Total
_Unrestricted_
_Restricted_
_Restricted_
_Restricted_
_Restricted_
**2021-2022**
2020-2021
**60,342.16**
**36,628.55**
**19,410.72**
**4,393.09**
**58.61**
**120,833.13**
117,306.22
14,015.00
14,015.00
17,626.00
0.00
40,868.49
0.00
437.30
41,305.79
22,349.68
616.58
616.58
564.57
0.00
0.00
3,535.62
314.37
314.37
1,437.70
2,620.06
17,566.01
0.00
40,868.49
0.00
437.30
56,251.74
45,513.57
40,203.09
1,556.71
41,759.80
23,365.83
7,322.08
7,322.08
5,933.96
2808.83
2,808.83
290.88
3,902.59
3,902.59
3,214.14
4,754.46
4,754.46
3,138.54
2,340.90
0.00
2,340.90
6,043.31
2,620.06
21,128.86
2,620.06
40,203.09
0.00
1,556.71
62,888.66
41,986.66
-3,562.85
-2,620.06
665.40
0.00
-1,119.41
-6,636.92
3526.91
0.00
0.00
**56,779.31**
**34,008.49**
**20,076.12**
**4,393.09**
**-1,060.80**
**114,196.21**
120833.13
Assets Represented By:
Metro Current
**5,007.58**
Metro Savings
**53,734.70**
Lloyds Current
**0.00**
Lloyds Savings
**50,822.20**
Open Meetings Float
**30.00**
Cash Held by Group Leaders
**2,500.77**
PayPal
**2,100.96**
**114,196.21**|
|---|---|
U3A General Fund Local Groups Fund Outings Group Open Meetings Bequest - Miss V Poole
GF _Unrestricted, records all receipts and payments relevant to the general running of the charity._ LG _Restricted to individual groups covering all their direct activities_ O _Restricted, records all receipts and payments for the Outings Group and their operating costs_ OM _Restricted, records all receipts and payments for Open Meetings and their operating costs_ BQ _Restricted, records all receipts and payments againt the bequest received from Miss V Poole_
## **Independent Examiner - Sarah Russell**
**Prepared by David Hall**
C:\Users\Dave\Desktop\backup d\Dave Hall\U3A\END OF YEAR\AGM 2023 documents\21-22 Year end accounts
## **Independent examiner’s report on the accounts**
Report the to the trustees of the charity: - Milton Keynes University of the Third Age Trust (MKU3A)
Registered Charity Number: - 298693
On the accounts for the year ended 30/11/2022
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
The charity’s trustees consider that a system audit was required for this year under section 144 of the Act together with an independent examination.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the applicable Directions given by the Charity’s Commission (under section 145(5)(b) of the Act,
- to state whether particular matters have come to my attention
## **Basis of independent examiner’s report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the following statement.
## **Independent examiner’s statement**
In connection with my examination, no material matters have come to my attention which gives me cause to believe that, in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with either the system audit or the examination, to which attention should be drawn in the report, in order to enable proper understanding of the accounts to be reached.
Signed: Name: Sarah Russell
Date: 15th February 2023
Relevant professional qualification or body:
Address: 52 Stokenchurch Place Bradwell Common Milton Keynes MK13 8A