Registratlon number N1041287 U3A Foyle Company limited by guarantee Financial Ststements and Trustees. Report for the Year Ended 31 March 2025
U3A Foyle Company limited by guarantee Contents Page Legal and Administrab"ve Information Trustees, Report Independent Examinerfs Report Statement of Financial Ath'vities for the year ended 31 March 2025 Statement of financial position as at 31 March 2025 9-10 Notes to the Accounts
U3A Foyle Company limited by guarantee Legal and Admlnlstratlve Infomiatlon Status . The organisation is a charitable company limited by guarantee, incorporated on 28 August 2001 and is recognised as a charity by the Inland Revenue. The goveming document is a Memorandum and Articles of Association. Dlrectorn . Geraldine Kelley (Chairperson) Martin McDaid Tommy Dunbar Gail Hutchman Richard Smith Niall Smyth Michael McDaid Avril Alexander Rose Marie Bradley Company Secretary . Gail Hutchman Accountants . Dohety & Co Accountsnts Ltd Chartered Certified Accountants The Amp 11 Ebrington Square Dery BT47 6FA Main Bankers . First Trust Bank Meadowbank Strand Road Dery Sollcltors . Mccartney & Casey 3 Castle Street Regl8tsred Office . Pascal McDonald House Gransha Park Derry BT47 6TG Company Number: N1041287 Charity Commisslon for Northern Ireland Number. NIC100018 Page 1
U3A Foyle Trustees. Annual Report for the Year Ended 31 March 2025 Report of the trustees for the year endlng 31 March 2025 The Directors are pleased to present their annual report together with the financral statements of the Charity for the year ended 31 March 2025 which are also prepared to meet the requirements for a Directors, report and accounts for Companies Act purposes. The financial statements comply with the the Charits'es Act (Nl) 2022, Companies Act 2006, the Memorandum and Artides of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2019.) The company is governed by a Memorandum and Articles of A5*aton dated 08108101. The company number is Nl 41287 and the registered office is Pascal McDonald House, Gransha Park, Dery, BT47 6TG. The company is a registered Northem Ireland chanty - reference NIC 100018. Directors and trustees The directors of the charitable company (the Chanty) are the trustees for the purpose of Charity Law. The Directors during the year end at the 31 March 2025 were as follows: Geraldine Kelley (Chairperson) Niall Smyth Martin McDaid Michael McDaid Tommy Dunbar Avril Alexander Gail Hutchman (Company secretary) David Hill (Resigned 31108r2024) Rose Marie Bradley Orla Quigley (Resigned 3110812024) Richard Smrth Chalr's report On behalf of the Board of Directors I can report that this past year has been another good year for U3A Foyle. Despite some challenges faced by rising costs we delivered a full prospectus of activitTres to our members and raised our membership to 977 members We successfully installed a full new heabng system in the building with the handover in September 2024 and we hope to reap the financial savings going forward. A number of remedial works and decorating were also completed in this financial year. Fundraising & Funding Members continued to cary out substantial fundraising throughout the year. There was a huge efft)rt & support by all members and this is hugely appreciated. We received continued funding from WHSCT for Active Living delivery as well as Funding Awards from National Lottery's Awards for Ail, from PHA'S Clear Project and from Power Nl's Energy Saving Programme. Page 2
U3A Foyle Trustees. Annual Report for the Year Ended 31 March 2025 Revlew of Activitle8 We delivered all our Core Aclm'ties this year wrth good numbers in all our groups especially in the Physical Activity classes, the Language Groups & our LIKal History Group. New Classes and Groups this year included a Tai Swing cLass, Walking CnckeL Wood Turning & Wood Carving classes and a Strength & Cardio Class. We linked in with the University of Ulster again this year and had 35 members benefit from their Fitness Workshops. Specsavers also provided bwo workshops for us and over 60 members engaged with their hearing workshops. We continue to cement the profile of U3A Foyle within the community and going forward we will work with any agencies to conts'nue to enhance the lives and experiences of our members. We had a number of exiemal visits this year with some trips out with the Lal History Group, the Ukulele Group the D'ukes of Gransha continued to be hugely popular and played in a number of events,. a member received an EPIC Volunteering Award from the Mayor of Derry & Strabane for completing over 500+ hours,. ALL our volunteers received certificates for their individual volunteenng hours at a wonderful Volunteer Lunch we had in June 2024.. and we had a wonderful Art & Craft Showcase for a week in the building with over 100 submissions by members. U3A Board I must pay thanks to the U3A Foyle Board Members who give their time and expertise willingly through the year to ensure that the organisation meets the needs of the U3A members and meets all our statutory regulations. Board Members met every month for a full Board meeb.ng and then also for further individual committee meetings as well. We produce and work to an annual Operational Plan each year derived from our 5-year Strategic Plan. To help deliver on these plans there are several committees in pla, each chaired by a Board member. Staff Thanks again this year for the enomous contribution made by our small number of permanent stsff. Christine, Angelina and Merwyn have once again this year worked hard to keep the U3A members infomied and connected, busy and engaged, fft and healthy. We thank them most sInlY all for their hard work and the extra miles they go for us every year. Our thanks also go out to all our wonderful Tutors. Facilitators, visiting Lecturers and Group Leaders who also deliver a first4ass seNice to U3A Foyle members. Page 3
U3A Foyle Trte0s. Annual Report for the Year Ended 31 March 2025 Our Purposes and Actlvltles The purpose of U3A Foyle is to encourage older people in the city and district and suOund1ng areas. who are no longer in full b'me employment, to engage in lifelong leaming. We offer accessible and first-class activities and continuous leaming opportunits'es. Our mission is to encourage members to enjoy a fuller lrfe in retirement by embracing Active Lrving this encompasses educational programmes. languages; recreabon and sporting activities; social events and health projects.. lectures & talks. Each year over three temis and a Summer Programme we compile a comprehensive prospectus detailing various classes, courses and activities. This prospectus focuses very much on supporting our members to keep active, engaged, fit and healthy in their later years through enjoying lifelong leaming and acts'vty. The emphasis within U3A is on inclusion and on enjoyment. Wider research has shown that members reported major benefrts from being part of a U3A Communty in terms of confidence, feeling supported. learning new skills. combatb'ng loneliness, and feeling valued and enjoying life. People in later life are particulaty vulnerable to loneliness which can reduce qualty of life and well-being Keeping connected with others and especially one's peers has also personal benefrt as people in strong social relabonships are more likety to remain healthy and independent. In shaping our objectives for the year and planning our activiti'es, the directors have considered the Charity Commission's guidance on public benefit requirement {PBR1). We endeavour to encourage a wide range of retirees to take advantage of our expertise and encourage all retirees within our community to make use of our services. Our Volunteern To keep U3A FOY vibrant and strong rt is particularly important that members are deeply involved, not only as the participants in classes and activities, but also by using their experience and talents to give something back to the organisation. This could be in the fomi of ideas for new activits"es, by leading groups. joining committees, volunteering for office work, or helping with the many tasks which are necessary to keep our U3A running smoothly. We have so many members - over 100 - who work tirelessly for the benefft of the organisation and its development and we are extremely grateful for all their hard work and thank them most sincerely. However. we always require more. Ultimately it is your organisation and participab'on and input from all members is necessary to allow us to continue to run our groups and courses and to continue to plan many more. Achievements and perfomiance Our records of attendance for the past year are as follows: From April 2024 to March 2025 there were 104.269 recorded hours of service provision provided for members wrth 9,500 actual participant places recorded. Page 4
U3A Foyle Trustee8' Annual Report for the Year Ended 31 March 2025 Flnanclal revlew During the year income of £256.086 was received. Total costs for the year were £251,306 including depreciab'on of £52,796. Costs excluding depreciation were £198.510. This resulted in a cash surplus for the year of £57,576 which was used to finace caprtal additions of £46,330. At the year end net current assets were £138,965. The unreStred net current assets at the yearend Vre £124,354 including reserves which the ditorS have ring fenced for futu designated capital spending. The director5 are happy with the results of the year. Reserves policy and going eoneern Reseprfes are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency costs. Due to the nature of the activities of the Charity no material unplanned costs are expected. The major costs are wages and programme costs but funding is in place to cover most of these costs. The Directors consider that a satisfactory level of unrestricted reserves is six months administration costs and salanes which would currently be in the regh)n of £62,500. The financial review above shows unrestn'cted reseNes of £124,354 including reserves the directors have ring fenced reserves for future designated capitsl spending. The Directors have reviewed the circumstances of the Charity and consider that these reserves are adequate to fund acts'vities for the foreseeable future. The directors are of the view that the Chanty is a going concem. Plans for future periods Our plans for 202>2026 are to continue to deliver a first<lass service of classes, courses and activities and deliver on our core mission ststement. We hope to continue to recruit new members, encourage our members to partake in lifelong leaming and activity and to ultimately remain the premier centre for older people in the city & district. We will encourage continued fundraising and volunteering wrthin the membership and continue as a Board to apply for any relevant funding. We hope to expand our links Yth other agencies including Third Age Trust, other neighbouring U3A's, University of Ulster, Derry City & Strabane District Council, Leaming City & Region and other Age Agencies. Page 5
U3A Foyle Trustee8' Annual Report for the Year Ended 31 March 2025 Statement of Trustees. Responslbllltles The Charty Trustees (who are also the directors of the U3A Foyle for the purposes of company law) are responsible for preparing a Trustees, Annual Report and financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charrtable company and of the profft or loss of the company for that year. In preparing these the Trustees are required to: - select suitable accounts'ng policies and apply them consistently., - observe the methods and principles in the Charities SORP.. - make judgements and estimates that a reasonable and prudent; - stste vh)ether applicable UK Accounb'ng Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will continue in business The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial posibon of the company and to enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are also resF)onsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularibes. The report has been prepared in accordance wth the special provisions for small companies under part 15 of the Companies Act 2006. The report was approv9J by the board on 22 May 2025 and signed on its behalf by Martin McDaid Director 22 May 2025 Page 6
U3A Foyle Company limited by guarantee Independent Examinerfs r•port to the Charity Trustees of U3A Foyle Year ended 31 March 2025 I report solely to the Charity Trustees on my examinaknon of the accounts for the year ended 31 March 2025. To the fullest extent pemitted by law. I do not accept or assume responsibility to anyone other than U3A Foyle and its Trustees as a body for my vnrk or for this report. As a practising member of the Chartered Association Of Certified Accountants l am subject to its ethical and other professional requirements which are detailed at www.accaglobal.com. Respective responsibllities of charity trustees and examiner As the Chanty Trustees {and also the directors of the company ft)r the purposes of company law) you are responsible for the preparation of the accounts in accordance wrth the requirements of the Companies Act 2006 and the Chanties Act (Northern Ireland) 2008. Having satisfied myself that the charty is not subject to an audit under company law, and is el1b for independent examination, it is my responsibility to.. xamine the accounts under section 65 of the Chanties Act. -follow the procedures laid down in general directions given by the Charity Commission for Northem Ireland under section 65{9)(b) of the Charities Act -state whether parts'cular matters have come to my attention. Basis of indopondent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under sects'on 65{9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as charity trustees conceming any such matters. My role is to stste whether any material matters have come to my attenkn'on giving me concem to believe.. 1. that accounting records were not kept as required by with section 386 of the Companies Act 2006 and section 63 of the Charities Act; 2. that the accounts do not accord with those accounting records; 3. that the accounts do not compty wth the accounting requirements of sects'on 396 of the Companies Act 2006, the Charities Act and with methods and principles of the Charities Ststement of Recommended Practise applicable to charities preparing their accounts in accordan with the Financial Repong Standard applicable in the UK and Republic Of Ireland. 4. that there is further infomiats'on needed for a proper understsnding of the accounts to be reached. Independent examinefs statement I have completed my examinatK)n and have no concems in respect of the matters (1) to (4) above and, in connection wrth following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attenb"on. Steph n Doherty FC Chartered Certified Accountant Th• Amp 11 Ebrington Squaro Derry BT47 6FA 22 May 2025 Page 7
U3A Foyle Company limited by guarantee Statement of Financial Activities for the Year Ended 31 March 2025 Unrestricted Restricted Funds Funds Totals 2025 Totals 2024 Notes Incomin Resources Donations, legacies and similar incoming resources 14,000 14,000 5,342 Income from activities of furtherance of charitable objects 52,308 22,197 74,505 49,912 Income from actNities for generatsng funds 163,102 163,102 154,348 Investment income 4,479 4.479 1,434 Total incoming resources 233,889 22,197 256,086 211,036 Resources Ex nded Charitable expenditure.. Furtheran of charitable activities 139,588 141,632 131,441 Management and administration 54,551 2,327 56.878 59,897 Depreciation 10,525 42,271 52,796 45,893 Total resources expended 204,664 46.642 251,306 237,231 Net movement in funds 29.225 (24,445) 4,780 (26.195) Total funds brought forward at 1 April 2024 147.803 354,507 502,310 528,505 Total funds carried fopNard at 31 March 2025 177,028 330,C62 507,090 502,310 There are no gains or losses other than the profrt or loss for the ab)ve two financial years Page 8
U3A Foyle Company limited by guarantee Balance Sheet as at 31 March 2025 Unrestrlcted Restricted Funds Funds Totals 2025 Totals 2024 Notes Fixed Assets Tangible Assets 52,674 315,451 368,125 374,591 Current Assets Cash at bank and in hand Total current assets 145.803 145,803 14,611 14,611 160,414 160,414 156,685 156,685 Creditors: amounts falling due within one year (21.449) (21.449) (28.966) Net current assets 124,354 14,611 138,*5 127,719 Total assets less current Ilabllltles 177.028 330,062 507,090 502,310 Creditors: amounts falling duo after one year Not assets 177,028 330,062 507,090 502,310 Financed b Funds 177,028 330.062 507,090 502,310 For the year ended 31 March 2025 the company was entrtled to exemption from audit under section 477 of the Companies Act 2006 relabng to small companies. Directors responsibilities: The members have not required the company to obtain an audrt of its financ1 ststements for the year in questson in accordance with section 476; The directors acknowledge their responsibilities for comptying with the requirements of the AGt with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Page 9
U3A Foyle Company limited by guarantee These financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025, and are sned on behaff of the Board by; Mrm in M¢Daid Director Company Registration Number . N1041287 Page 10
U3A Foyle Company limited by guaranteo Notes to the financial statements Year ended 31 March 2025 General inforniation The Charity is a charitable private company limited by guarantee. registered in Northem Ireland. The address of the registered office is Pascal McDonald House, Gransha Park. Dery. Accounting pollcles Basis of preparation The financial statements have been prepared in accordance wtth AccoL6nting and Reporting by Charities. Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicab in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019) (Charities SORP IFRS 102)), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. U3A Foyle meets the definitK)n of a public benefit entity under FRS 102. Assets and liabilities are inits.ally recognised at historical cost or transaction value unless otherwse stated in the relevant accounb'ng policy note{s). Tumover Turnover represents the totsl value of grants received and receivable as well as other income arising from other operating and fundraising activities during the year. Grants are recognised in the Profit and Loss account when the conditions for their receipt have been complied with and there is reasonable assurance that the grant will be received. Tangible assets Tangible assets are inibally fecorded at cx)st. arKI are subsequently stated at cost less any accumulated depreciats'on and impairment losses. Depreciatlon Depreciation is calculated so as to write off the cost or valuats.on of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property Plant and machinery FingS fixtures and equipment straight line reducing balance reducing balance 20% Page11
U3A Foyle Company limited by guarantee Notes to the financial Ststements (continued) Year ended 31 March 2025 Flnanclal Instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impaiment Other financial instruments. including derivatives. are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value. vrith any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amorts'sed cost are reviewed for objective evidence of impairment at the end of each reporbng date. If there is objective evidence of impairnient, an impairment loss is recognised in profit or loss immediately For all equity instruments regardless of signifance. and other financial assets that are individually significant, these are assessed Individually for impaiment. Other financial assets or either assessed individually or grouped on the basis of similar credit nsk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that eXedS what the carrying amount would have been had the impaimient not previousty been recognised. Funds Unrestricted Revenue Funds - comprise those revenue funds which the management committee are free to use in accordance with the company objects'ves. Restricted Revenue Funds - comprise those revenue funds which have been given for particular purposes and projects. Limited by guarantso U3A Foyle is a registered charity limited by guarantee wlthout a share capital. HMRC Charity Reference Number.XR 4C623 Charity Commission of Northem Ireland Number. NIC100018 Page 12
U3A Foyle Company limited by guarnntee Notes to the financial statements (continued) Year ended 31 March 2025 5. Incoming Resouces Unrestricted Restricted Funds Funds Totals 2025 Totals 2024 Donations le acies and slmilar incomin Donations 14,000 14,000 14,000 14,000 5,342 5,342 Income from activltes of furtherance of charitable ob ects Income from WHSCT Lottery Fund Fuse Nl Retail DHC (CLEAR Project) Defry City & Strabane Council PHA Positive Ageing Grant Sundry Grants 52,308 52,308 18,180 3.017 1,000 48,122 18,180 3.017 1.000 800 550 440 52.308 22,197 74,505 49,912 Income from acttvities enerntin funds Member contributions Course income Social functions Rental income Fundraising Other income Total 56,967 88,390 3,748 1,100 5,873 7,024 163,102 56,967 88,390 3,748 1,100 5.873 7,024 163.102 52,590 78,031 4,200 1,810 7,438 10,279 154,348 Investment and other income Interest Received 4,479 4.479 4,479 4.479 1,434 1,434 Total incoming resources 233,889 22,197 256.086 211,036 Pago 13
U3A Foyle Company limited by guarnntee Notss to the financlal statements (continued) Year ended 31 March 2025 Resource8 expended Unrestricted Restricted Funds Fund8 Tots 2025 Totals 2024 Furtherance of charltable activities Social functions Provision of courses Items for resale Capitation fee Wages and salaries Staff training Travel expenses Total 1,507 47,492 1,561 3,600 85.196 95 137 139,588 201 1,843 1,708 49,335 1,561 3,600 85,196 95 137 141.632 2,891 45,356 2,060 3,360 77,423 75 276 131,441 Mana ement and administration costs Light, heat, cleaning & securty Insurance Repairs and maintenan Advertising, telephone & computer costs Accountancy fees Bank charges General expenses Total 29.289 3,358 12,463 5,136 1,856 2,349 11)0 54,551 2,260 31,549 3,358 12,463 5,203 1,856 2,349 100 56,878 31,178 2,987 15,445 5,972 1,680 2,409 226 67 2,327 De reciation Depreciation of tangible assets 10,525 10,525 42,271 42,271 52,796 52,796 45,893 45,893 Totsl resources expended 204,664 46,642 251,306 237.231 Staff costs The average number of persons employed by the company during the year was 3 (2024.. 3). No remunerab'on was paid and no expenses reimbursed to the directors during the year. Page 14
U3A Foyle Company limited by guarantee Notes to the financial statements (continued Year ended 31 March 2025 Tangible assets Freehold Plant and Fixtures, propety machinery fittings and equipment Total Cost At 1 April 2024 Addrtions 1,101,504 72.705 46,330 64,277 1,238,486 46,330 At 31 March 2025 1,101.504 119,035 64,277 1,284,816 Depreciation At 1 April 2024 Charge for the year 728,534 44.CEO 72,296 8,036 63,065 700 863,895 52,796 At 31 March 2025 772,594 80,332 63,765 916,691 Carylng amount At 31 March 2025 328,910 38,703 512 368,125 At 31 March 2024 372,970 409 1,212 374,591 Crodltor8: amounts falling due within one year 2025 2024 Trade creditors Other creditors 20,647 802 28,057 909 21,449 28,966 10. Contingent assets and liabilities The company has received substantial govemment and public grant assistance over a number of years. The payment of these grants is made subject to certain conditions being fulfilled by the company. The Sports Council for Northem Ireland Tla Sport Northem Ireland has a charge over the company premises covering possible repayment of grants received. The directors consider that all grant condib'ons will be satisfactorily fulfilled and the likelihood of having to repay any grants is remote. Page 15
U3A Foyle Company limited by guarantee Notes to the financial statsments {continued) Year ended 31 March 2025 11. Anatysls of charitable funds Anatysis of movements In unrestrlcted funds Balance at IncomlngResources 1 April 2024 Resources Expended Transfern Funds at 31 March 2025 General Fund 147.803 233,889 (204,664) 177,028 147,803 233,889 (204,664) 177,028 Name of unrestricted fund Description of the Fund General Funds Funds which the Charity is able to apply freety in pursuit of its own charitsble objectives and related purposes. Analysis of movements in restricted funds Balance at IncomingResources 1 Aprll 2024 Resources Expended Transfers Funds at 31 March 2025 Restricted Fund 354,507 22,197 {46.642) 330,062 354,507 22,197 (46,642) 330,062 Name of restricted fund Restricted Fund Descrfption of the Fund Funds which the Charity applies for particular purposes and projects in pursuit of its charitable objects'ves. Analysis of net assets between funds General Restricted Fund Fund 52,674 315,451 Total 368,125 Fixed Assets Debtors Cash at bank and in hand Creditors 145.803 (21,449) 14,611 160,414 {21,449) Totsl 177,028 330,062 507,090 Page 16