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*￿￿at￿on 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 L￿al 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 sIn￿￿lY 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 Tr￿te0s. 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 su￿Ound1ng 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 unreStr￿ed net current assets at the yearend V￿re £124,354 including reserves which the di￿torS 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