CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 315r MARCH 2025 Charity No: NIC 104728
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 CONTENTS Page Chairperson's Report Treasurer's Report Trustees, Report Independent Examiner's Report 11 Receipts and Payments Account 12 Statement of Assets and Liabilities 13 Notes to the Accounts 14 Page 2 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 Causeway u3a AGM Chair's Report for the Year April 2024 to March 2025 Hello Everyone Well, here is myfinal message to you all, and it is not without some sadness that I write. Being your Chair for the last four years was an experience that was not on my bucket list (if indeed I had one!) but it has been very rewarding for me and the friendships that I have made along the way are priceless. Thank you everyone. th Causeway u3a will be celebrating its 30 Anniversary this year and l am looking forward to our Gala Evening at Ulster University on 10 April. We are very grateful to the University for providing the Diamond Hall without charge. one of the many benefits from our long and productive partnership with the Coleraine campus. Professor Malachy O'Neill, the Director of Regional Engagement, remains a firm friend of Causeway and our cooperation is an integral element in their Age-Friendly University policy. Our members have audited lectures and seminars offered by the English and History departments. the University Trail is a regular venue for our Ramblers and Nordic Walkers and our sportsmen and women make excellent use of the University's indoor and outdoor sports facilities. Many of our members reciprocate by for volunteering as subjects for various research projects or acting as 'patients' for medical and paramedical students and optometrists. We also enjoy an excellent relationship with Causeway Coast and Glen5 Borough Council and Foyle u3a have been very helpful, offering advice and openingtheir financial workshops to our members (though they are less generous when it comes to defending the bowls trophy for which we compete). Each year I have faced the impossible task of truly acknowledging the enormous contribution made by our committee members, group leaders and other volunteers whose generous use of their talents and knowledge allows Causeway to function and flourish. Please forgive me if I mention only a few. Mary O'Hare (contrary to what I wrote last year!) remained as our Activity Coordinator but also took the lead in organising our Gala Evening. l am very grateful to Mary and her team for their sterling efforts in anticipation of what I believe will be a splendid occasion. Brendan Mullan not only balances our books but also juggles his time to lead our Tech Team and to contribute to the Northern Ireland Regional Committee. David Johnston, our Membership Secretary, now has some 1450 members on his books and this is very busy time of year for him as he deals with the annual round of membership renewal. Tom Adair and his team have brought a new literary style and attractive look to the Newsletter. Loretto Blackwood has continued to manage and maintain our original website while Brendan and his team are developing a replacement. Nigel Creighton and his Stripe machine have provided invaluable assistance in the collection of activity fees. Our activities used to run from A (Art) to Z (Zumba) but sadly we can now only get from A to (Yoga). Each one depends upon the expertise freely given by members within the philosophy of the u3a movement and without their hard work Causeway u3a could not function. I hope that all our group leaders understand how much we appreciate their commitment and that my expressions of gratitude are anything but conventional. If Causeway is to continue to flourish we need members to undertake these vital tasks, and your Page 3 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 Committee would be delighted to offer advice and assistance to anyone interested in assisting with these responsibilities or developing new activities. This year's international holiday was at Lake Maggiore. Rosalind Pritchard led a party of 36 travellers who enjoyed good weather, the services of an excellent guide and some interesting excursions. The holiday was again provided in conjunction with Riviera Travel, from whose financial support, through its generous Affinity scheme, Causeway has greatly benefited. (You can find further details of the scheme on our website.) Our Vice-chair, Ken Canavan, not only organised a number of well-5ubscribed day and half-day trips but also a very successful autumn holiday in Scotland. We were able to offer a few places on both the international and autumn holidays to members of other local u3as and all our travellers benefitted from the research and negotiations undertaken by Rosalind and Ken on their behalf. The Activity Fair remains one of our calendar highlights and this year's event in September was no exception. with a vibrant air of anticipation a5 group leaders gathered to enrol members in our wide range of activities. My thanks to our Secretary, Alan Sharp and Activity Coordinator, Mary O'Hare, who worked hard to ensure its success. It was held, as always, in the Lodge Hotel, which is generous in its hospitality for our monthly meetings and other activities. We have enjoyed a varied range of speakers and charity presentations for those monthly meetings, again thanks to Ken Canavan's wide range of contacts. Ken and Tenia Woods organised a very successful Christmas lunch at the Royal Court Hotel in Portrush with entertainment from the Mill Strand Integrated Primary School choir and our own Singing for Fun group. As you can see from the Treasurer's report, our finances are very healthy and we have been able to offer subsidie5 to groups to offset the cost of room hire. l am grateful to Brendan Mullan for his oversight and I would also like to offer a massive thank you to Rosemary Peters Gallagher for acting as the examiner of our accounts. I have, once again. enjoyed working with this year's Committee to which Alice Chapman was co-opted. I know that our next Committee will strive to make our community a place where we can learn and laugh whenever we can. I wish you all every happiness a5 1 hand over the gavel to our new Chair. Barbara Foster Chair, Causeway u3a, 2024-2025 Page 4 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 TREASUREWS REPORT This report outlines the financial attivities of our charityfor the year ending 31st March 2025. Our accounts have been prepared on a Receipts and Payments basis, in accordance with guidance from the Third Age Trust and the Charity Commission for Northern Ireland. Under this method, all equipment purchased is written off in the year of purchase. The Statement of Assets and Liabilities attached shows assets that are assessed to have a notional value, together with the balance5 held in cash. Income and Donations Income from membership fees and activities rose by approximately £7,000 during the year. This increase was further supported by £6,000 in donations from Riviera Travel, thanks to members who booked holidays through their Affinity Partnership scheme and nominated Causeway u3a. Under this scheme, up to IO% of the holiday cost is donated to us without affecting the member's price. Please note that, as a condition of the scheme, these donations are made directly to the u3a and not returned to individual members. Expenditure and Subsidies Activity Costs particularly for tutors and venue hire-have risen significantly due to inflation. increased market rates, and higher operational expenses. To support our members, we subsidised venue costs by 25% during the year, using surplus funds to help keep artivities accessible. Governance costs also rose, driven by the same inflationary pressures. It's important to note that, due to the Receipts andPayments basis of our accounting. some activity invoices for the 2024 financial year were paid during the 2025 financial year. while invoices for the same activities for 2025 were also paid within the same year. This overlap should be considered when reviewing the financial statements. Financial Position The net result of these changes was approximately £IO,(K)O reduction in our funds. However, once adjusted for the timing of invoices, as indicated above, the actual reductlon in funds stands at £5,5(Kl. Despite this, our year-end balance of £42.048 reflects a healthy financial position. Change in Financial Year-End To reduce the impact of future timing differences. the committee has approved a change in our financial year-end from 31st March to 30th June. Most of our activities pause during the summer, by which time the majority of invoices are settled and financial activity is minimal. This change should offer a more accurate and complete picture of the charity's financial standing, improve budget planning, and align our reporting cycle with our operational calendar. Membership Year Alignment Most new members join in September, coinciding with the Activity Fair. which marks the beginning of a new season of group activities. To streamline the onboarding process and align the membership cycle with this natural influx. the committee has approved a proposal to change the membership year to start on 1st September. As a result, the current membership year will be extended by five months, ending on 315t August. The shift means we won't receive membership fees in April, creating a one-time funding gap until Page 5 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 September. However. this is a temporary change, and regular membership contributions will resume in September. The membership fee of £10 remains the same-this change is purely to enhance clarity and efficiency. We have existing funds (£42,048) to manage this transition without disruption, ensuring activities and services continue as usual. Acknowledgements I would like to extend my sincere thanks to our Membership Secretary, David Johnson, for his excellent work in managing and recording fees of nearly 1.500 members. Thanks also to committee members Nigel Creighton and Anna Logan for their continuing work in developing our new membership portal, facilitating online fee collection, and training group leaders in its use-with special mention to member Noel Murphy for his valuable assistance. Conclusion I commend these accounts to you and propose their adoption. Brendan Mullan Treasurer Page 6 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 TRusfEES' ANNUAL REPORT The Trustees present their report for the financial year l April 2024 to 31 March 2025. CHARITABLE OBJECTIVES The Objects of Causeway u3a are: to advance the education of the public and in particularthe education of older people no longer in full time gainful employment in Causeway Coast and its surrounding locality. and the provision of facilities for leisure time and recreational activities with the object of improving the conditions of life for the above persons in the interests of their social welfare. PUBLIC BENEFIT STATEMEKr The benefits that flow from the purpose is keeping older minds active and involved through the acquisition of knowledge or furthering of knowledge in specific areas of interests to the recipient. Causeway u3a provides the older person in its area with educational benefits which they would not otherwise be able to access at a minimal cost. Further benefits that flow from this purpose are improved health awareness of issues related to older people and physical and mental health maintained and/or improved through the uptake of activities provided hence reduction in demand for public health seniices. Also, the bringing together of isolated people and introducing them to new interests and friends therefore giving them a new outlook on life. This is especially pertinent to the Causeway area where people choose to retire to. The beneficiaries are the current I,OOO+ members of Causeway u3a, who are retired or semi- retired men and women living in the Coleraine, Portstewart and Portrush catchment area. There is no possibility of any harm or possibility of harm outweighing the benefits. ACHIEVEMENTS AND ACTIVITIES These are set out in the Chairperson's Report on page 3. Page 7 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES, ANNUAL REPORT (Cont'd) Flnancial performance Almost all our activities have now resumed following the covid epidemic and the credit balance against activities reflects the payment in advance for courses that will run from April until the summer. Balance held at the end of March 2024 was £52,532, balance at the end of March 2025 is £42,048. The accounts are produced on a receipts and payments basis therefore the balance carried forward reflects payments in advance for activities. The Trustees are content that the charity has sufficient resenies to continue to function effectively. It should be noted that all reserves are unrestricted. Risk Management The Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the finances and operations of the Charity and are satisfied that systems and processes are in place to mitigate the exposures to the major risks. Reserves Policy The Trustees aim to ensure that sufficient reserves are maintained for the efficient operation of the charity. All reserves are unrestricted. Reference and Administrative Information Governance and related organisations Causeway u3a, charity number 104728, was registered with The Charity Commission for Northern Ireland on 4 March 2016. The charity is a member of the Third Age Trust as an unincorporated a550ciation and has a governing constitution which was last formally amended at the AGM on 23 April 2009. Causeway u3a and its property are administered and managed in accordance with its constitution bythe members of the Executive Committee, who are elected from amongst themselves by the membership at the AGM. The role5 and responsibilities of the members of the Executive Committee or Trustees are set out in the governing constitution. The Committee typically meets once per month between September and April. At each meeting the Treasurer presents the latest accounts for review and discussion. The meetings provide a forum to: review recent activities; plan forthcoming events; discuss the development of the charity," and also, received reports from other officers on their areas of responsibility. Further ad hoc meetings are called if required. The Annual Report and Accounts are approved bythe Committee and then presented to the members at the Annual General Meeting No funds are held by Causeway u3A as a custodian trustee. Page 8 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES. ANNUAL REPORT (Cont'd) Statement of Trustees Responsibilities The Trustees are responsible for preparing the Annual Report and Accounts in accordance with applicable law and with UK Accounting Standards. The Trustees are also responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant information of which the Charity's Independent Examiner is unaware; and, the Trustees have taken all reasonable steps to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Trustees The Trustees of the Charity for the year were: Barbara Foster Ken Canavan Brendan Mullan Dr Alan Sharp David Johnston Dr David Eastwood Sir Paul Girvan Alice Chapman OBE Mary O'Hare Nigel Creigton Patricia Fulton Anna Logan Chair VI-Chair Treasurer Secretary Principal Address Causeway u3a c/0 Enterprise Causeway 17 Sandel Village Knocklynn Road Coleraine BT52 IWW Banker5 HSBC 20-22 Railway Road Coleraine BT52 IPD Ulster Bank 30 The Diamond Coleraine BT52 IDP Page 9 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES, ANNUAL REPORT (Cont'd) Independent Examiner Dr R I Peters Gallagher OBE FCA Moore (Nl) LLP 32 Lodge Road Coleraine County Londonderry BT52 INB Signed on behalf of the Trustees by: ( tror
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Barbara Foster Chair Date: Page 10 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 INDEpENDEr EXAMINERS REpoirr Independent examiners report to the tharity trustees of Causeway u3a I report on the accounts of the Charity for the year ended 31st March 2025. Respective Responsibilities of Charity Trustees and Examiner As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the Charities Act {Northern Ireland) 2008. It is my responsibility to: Examine the accounts under section 65 of the Charities Act Follow the procedures laid down in the generdl directions given by the Charity Commission under section 65{9) (b) of the Charities Act State whether particular matters have come to my attention. Basis of Independent Examiner's Report I have examined your charty 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 section 65{9){b) of the Charities Act. My 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 seekin8 explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with section 63 of the Charities Act That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of the Charities Act That there is further information needed for a proper understanding of the accounts to be reached Independent examiner's ststement I have completed my examination and have no concerns in respect of the matters (l) to {4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland; I have found no matters that require drawing to your attention. Signed: Name: Dr R. l. Peters Gallagher OBE, FCA Moore {Nl) LLP, Chartered Accountants 32 Lodge Road Coleraine, BT52 INB Address: Date: April 2025 Pagellof14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 CAUSEWAY u3a Statement of Receipts and Payments- Year Ended 31 March 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Receipts Voluntary Receipts Donations Other voluntary receipts 6,224 6,224 5,529 30 From Charitable Activities Membership Fees Activity Fees Outings 12,126 57,198 41,101 12.126 57,198 41,101 14,568 51,643 37,549 Total Recelpts 116,649 116,649 109,319 Payments C05t of Charitable Activities Governance Costs Third Age Trust 105,224 13,432 8,021 105,224 13.432 8,021 80650 7,491 7,875 Asset and Investment Purchase Purchase of Equipment 155 155 498 Total Payments 126,832 126,832 96,514 Net Receiptsl(Payments) {10,1841 (10,184) 12,805 Transfers tollfrom funds) Deficit for the year (10,184} (10,184) 12,805 Page 12 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 CAUSEWAY u3a Statement of Assets and Liabilities- Year Ended 31 March 2025 U nrestricted Funds Restricted Funds Total 2025 Total 2024 Funds Reconciliation Cash at bank 31.3.24 52,232 52,232 39,427 Surplus/lDeficitl this year end {10,1841 110,184) 12,805 Cash at bank 31.3.25 42,048 42,048 52,232 Bank Balances HSBC No I Current Account HSBC No 2 Current Account Ulster Bank No I Current Account Ulster Bank No 2 Current Account Multi-currency credit cards 22,192 16,659 385 30,874 20,429 2,297 515 929 42,048 52,232 Other Assets {Unrestricted Fund) Audio Visual systems lat costl Table Tennis table lat costl Table Tennis table (sale proceeds) Inkjet printers lat Costl Other equipment lat cost) 965 965 490 690 -200 475 475 1.930 1,930 Approved by the Trustees April 2025 and signed on their behalf by.. LK4.,11 Barbara Foster Chair Brendan Mullan Treasurer Page 13 of 14
CAUSEWAY u3a RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2025 NOTES TO THE ACCOUNTS l. Related Party Transactions No transactions with related parties or trustees occurred during the year. 2. Trustee Remunerdtion No remuneration was paid to any trustee during the year. 3. Trustee Expense5 No expenses were paid to any trustee during the year. 4. Accounting Policies The Charities Act (Northern Ireland) 2008 and The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 permit a charity to prepare a Receipts and Payments Account and a Statement of Assets and Liabilities where gross income in the financial year does not exceed £250,000. Therefore, Receipts and Payments Accounts and a Statement of Assets and Liabilities have been prepared and presented for the year ended 31st March 2025. All Income is recorded when received. All Expenditure is recorded when paid. 5. Fixed Assets Fixed assets are defined as items held for functional use, with a useful life longer than one year, and with a value above the capitalisation threshold. For all equipment the threshold is £200. Valuations have been provided for all such assets on the basis of their cost when acquired. Assets are not depreciated. All equipment is written off within three years of the purchase date. 7. Independent Scrutiny The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires any charity registered in Northern Ireland to have its accounts reviewed or audited. Where gross income in the financial year does not exceed £250,000 the review may be an Independent Examination by and Independent Person. Causeway u3a have chosen to exceed this minimum requirement by engaging a qualified person to undertake the review for the year to March 2025. Page 14of 14