## **FORTH VALLEY UNIVERSITY OF THE THIRD AGE** ## **ANNUAL REPORT & FINANCIAL STATEMENTS** For the year to 31[st] March 2025 **Scottish Charitable Incorporated Organisation (SC037928)** **Forth Valley University of the Third Age Annual Report & Financial Statements For the year ended 31[st] March 2025** **______________________________________________________________________________** ## **CONTENTS PAGE** **______________________________________________________________________________** |**Index**|**2**| |---|---| |**Trustee Annual Report**|**3 – 7**| |**Independent Examiner’s Report**|**8**| |**Statement of Receipts and Payments**|**9**| |**Statement of Balances**|**10**| |**Movement in Funds**|**11**| |**Notes to the Accounts**|**12-13**| 2 Foi'th Valley UnfiTrei'slty of Ihe T￿d Age Annual Repoi't & Fillancfial Statements Foi. the ye21" ellded 31 Illai"ch 2025 TRUSTEES. ￿NNuAL REPORT The tnistees are pleased to present their report and f￿￿1claI statements together with the independent examiner's report for the year ended 31° March 2024 Charity Natlle Forth Valley Ulliversity of the Third Age Charity Number SC037928 incipal Address Website Address www.fvu3a.org.uk Current TnLStees Chair Secretary Treasurer (Appt 24.05.2024) (Appt 11.06.2024) (Appt 24.05.2024) (Appt 24.05.2024) (Appt 12.I1.2024) (Appi 24.05.2024) Others who served duiing the Trear (Ret 24.05.2024) (Ret 24.05.2024) Olet 24.05.2024) Oiet 24.05.2024) Olel 24.05.2024) Oles I1.06.2024) Oles l9.09.2024) (Appt 24.05.2024) Oles 27.09.2024) Foi'th Valley UnlTrei"slty of Ihe Thli'd Age Annual Repoi't & Fillancfial Statements Foi. the ye21" ellded 31 Illai"ch 2025 TRUSTEES. ￿NNuAL REPORT STRUCTURE GoVERN￿NCE ILYD MANAGEME Governing Document The Fortkn Valley University of the Third Age (Fk'u3a) was registered as a charity with the Office of the Scottish Regulator (OSCR) on the 12 March 2￿7. It beCa￿e Scottish Ch￿itable Illcorporated Organisation (SCIO) after converting from an uninc0￿rdted Associatioll on 20 June 2014 alld is governed by its constitution. AppoAlltmenl of Trustees The Board wbich meets at least six times a year. are the Ch￿lty Tn￿tees. Menknership of the Board is open to any member of Forth Valley u3a and is illterested in fiwtheritlg the PUryK)se of the FVu3a. The tllLStees are appointed by the membership at the Annual General Meeting (AGM). During the year the Inistees ll]ay co-opt other tri￿teeS to serve oll the board if they believe it is in the interest of the charity to do so. All trustees retire at the AGM but are eligible for re-electloll. The Collstilution allows for a millimu￿ of three alld a Maximu￿ of twelve Iistees. Oi'ganlsalfion Structui'e The FVu3a is entirely nm by volunteers. The Inistees are responsible for the strategic direction and governance of the chatity. The FVu3a exists: a) For the advancement of the educatioo learning, and personal development of older people and tbose who are no longer in fiffl time en]ployment in the Forth Valley and its surrounding locality: And b) To facilitate associated leis1￿e time and recreational activities for its members with the object of itllproving the quality of their social life. ACHIEVEIIIENTS & PERFOILILLNCE The fjrst event of the 2024125 fU￿]cIal year was on 21° Apiil 2024 when the FVu3a beld our anniial 'Grand Quiz.. The QuiZ￿aSter for this very popular pre-sull]mer evellt was and it was roullded off with tea alld a wonderful selectloll of bome bakillg pioNuded by e caieiillo lea￿. **Forth Valley University of the Third Age Annual Report & Financial Statements For the year ended 31[st] March 2025** **______________________________________________________________________________** ## **TRUSTEES’ ANNUAL REPORT** ______________________________________________________________________________ Enrolment took place on 23rd August 2024 at two venues, the Sauchie Hall, and the Bridge of Allan Parish Church Hall, both of which were very well attended. Following this event, we gained 58 new members, and there were 486 renewals by existing members. The total at the end of August was 544 members. In September, our speaker for the first members' meeting of the new session was from WaterAid, who told us about the wonderful work the charity does bringing sustainable clean water supplies and decent toilets to communities around the world. In October, we had a very interesting talk entitled “Grace Chocolates - Changing Lives”. Founded in Stirling in 2017, Grace Chocolates supports women who have experienced the justice system and who are looking to make positive changes in their lives. Valuable training and work experience is given, allowing the women to build resilience, self-esteem, and confidence, empowering them to make constructive and lasting changes in their lives. At the end of the talk, we were all given some delicious Grace chocolates! This was followed in November by a talk by on ‘The Life & Work of James Miller, Architect’. Miller was an award-winning architect with a local connection, who is particularly known for his wide range of buildings in Glasgow and for Scottish railway stations. In December the FVu3a organised a successful Christmas lunch for all members at the Golden Lion Hotel in Stirling, and other Christmas lunches were arranged by each of the interest groups. January 2025 saw the welcome return of the very popular Edwin Drood Players who entertained a large turnout of members at Holy Trinity Hall with a marvellous and hilarious selection of sketches and readings. In February, Anthony Luxton from the local Mountain Rescue team gave a presentation on the work of the organisation. He surprised us all with some tales of rescuing people, informing us of the skills needed to rescue people, and of the kit he has to carry to tend to those in need. For our final event of the year in March, we had talk on the Roman Campaigns in Scotland from author Brian Young. Brian has a passion for history, with a special interest in Alexander the Great and in the Roman period. His talk covered the three Roman campaigns into Scotland. Equipped with props including a Centurian shield and a (blunt) sword, Brian gave a highly entertaining talk which left us all relieved that we didn’t live at the mercy of a Roman legion! As the year has progressed membership numbers have steadily grown from some 544 members after enrolment in August 2024 to a current year end (end of March) total of 585 members. It is hoped that this trend will continue in the forthcoming 2024/25 year. Similarly, the numbers of interest groups has grown, and due to the hard work of the groups administrators and group coordinators, in attracting new members they have increased from around 70 groups to more than 80 groups. 5 **Forth Valley University of the Third Age Annual Report & Financial Statements For the year ended 31[st] March 2025** ## **______________________________________________________________________________** ## **TRUSTEES’ ANNUAL REPORT** ______________________________________________________________________________ Although we have maintained our Zoom licence to enable groups to arrange remote meetings, since the pandemic practically all meetings between members are now face to face meetings. To aid communication with our members, the Board made the decision in 2024 to change the system whereby we record and administer our membership, financial and groups database. We moved over to the “Beacon” system, used by over 600 u3as throughout the UK. We successfully transferred our records by the end of February 2025. We also decided to update our website and this is ongoing. It is hoped that this will be complete before the start of our next session in September. The FVu3a has over the 2024/25 year proved to be resilient, vibrant and innovative, and it is hoped that this trend will continue in the forthcoming 2025/26 year. Membership numbers continue to grow and there is quiet confidence that this trend will continue during the forthcoming 2025/26 year. ## **FINANCIAL REVIEW** ## **Overview** The charity has continued to carry out work on behalf of its members. The principal source of income continues to be from the membership subscriptions. Increases in the cost of electricity and gas over the year have resulted in substantial rises in the cost of local hall and room hire and a consequential increase in outgoings. Apart from hall hire costs the Association’s main running expenses have been in respect of the publication of the newsletter and magazine, website and speaker costs and zoom licenses. The charity also pays branch dues to the Third Age Trust, and u3a Scotland, and a membership subscription to the publication ‘Third Age Matters’. ## **CACH Project (Cultural Activities in Care Homes)** The CACH project continued its work during 2024-2025 through funding from the Bank of Scotland Foundation REACH grant. This provided a second year of funding from the Bank of Scotland Foundation for the provision of music performances, reminiscence events and individual life story work in care homes for older people. These activities supplement those already provided by the homes, to promote health and well-being, and to bring enjoyment and stimulation to vulnerable older residents including those with dementia. We are also providing reminiscence sessions in three Community Cafes for older people in Bridge of Allan, Dunblane and Doune. All CACH volunteers hold PVG (Protecting Vulnerable Groups) certificates through Disclosure Scotland. The Scottish Government has recently made changes to the PVG scheme and these will be implemented from 1[st] April 2025. 6 Foi'th Valley UnfiTrei'slty of Ihe T￿d Age Annual Repoi't & Fillancfial Statements Foi. the ye21" ellded 31 Illai"ch 2025 TRUSTEES. ￿NNuAL REPORT The total income for the year was £27.716 (2023124 - £22,408) The total expenditure was £22.696 (2023124- £21. 572). Summary of Grants received by FVu3A to March 2025: Bank of Scotland Foulldation REACH grant of £2.100 received in May 2024. Reserves Poliry The tiustees, policy is to maintain sufficient reserves to meet operating costs of approximately six montbs within the general fund: this amounts to circa £5,(MKI. Unrestiicted funds at the end of the year were £ 21,269. The tnistees are aware that this is above the required amount but will use the excess to continue its activities. FITllJRE PLJLNS The FVu3a has grown substantially over the year. with a record number of members and a large number of g'oups for them to participate in. Given our increasing memberslll'p. the Board aill￿ to develop an enlarged programme of meetin?s and activities which will recommence from September 2025. APPROVAL This report was approved by the Inistees on the 30 May 2025 and Si￿ed on their behalf by. Date...3010512025.......... Date . .3010512025.......... Chalr Ti"easurer Foith Valley Unlversfity of the Thtrd Age ts a Charfitable Incorpoi'ated Organfisatfio Scottish Chaiity l%0. SC037928 Foi'th Valley UnfiTrei'slty of Ihe T￿d Age Annual Repoi't & Fillancfial Statements Foi. the ye21" ellded 31 Illai"ch 2024 IYDEPENDENt EXAMINER'S REPORT TO THE TRUSTEES FORTH VALLEY u3a SCIO: SC037928 I report on the accounts of the clLaTity for the paiod ended 3 1st March 2025 which are set out on the following pages. Respective iysponsibilities of Ti'ustees aDd ExamiDer The charity's Trustees are respollsible foi" the prepararioll of tlie accOl￿tS in accordallce with the terms of the Clwities and T￿￿teeS Investinellt (Scotland) Act 2005 and the Charities Accoi]llts (Scotland) Re￿lIationS 2(X)6. The charity Tn￿teeS consider that the audit requiremellt of the Re￿llatioll 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to exatlline the accounts as required under section 44(1) (c) of the Act to state whether particular n]atters have cotlle to Illy attention. Basis of Illdepelldellt Examiller's Statement My examinatioii is cartied out in accordance with Re?ulation I l of the C￿￿1tieS Accounts (Scotland) Re￿lIatIons 2(K)6. All examination includes a review of the accoullting records kept by the charity and a comparison of the accounts presellted with those records. It also illcludes consideration of any unusual items or disclosures in the accounts. and seeks explanations from the Trustees concerning any such marters. The procedures undertaken do not provide all the evidence that would be reqlliTed in an audit. and consequently I do not express and audit opinion on the view given by the accounts. Illdependellt Examiner's Statemellt Ill tbe course of ￿Y examinatioll. llo ￿￿tter has come to my attelltio I. Ivhich ￿VeS me reasonable cause to believe that in any material respect the following requirements have not been met: _ To keep accounting records in accordance with Section44 (1) (a) or the 2005 Act and Regulation 4 of the 2006 Accounts Regulations. and - To prepare accounts with accord with the accounting record and comply with Re￿llation 9 of the 2006 Accounts Regulations. 2. To whiclL ill my opinion. allelltion should be drawll in order to enable a proper ullderstanding of the Accounts to be reached. 27 May 2025 Date of signing Independent Examiner Independent Examiner NaD]e and Address: **Forth Valley University of the Third Age Annual Report & Financial Statements For the Year Ended 31st March 2025** ## **STATEMENT OF RECEIPTS & PAYMENTS** |**Receipts**
Grants
Donations & Gift Aid
Sale of asset
Membership & Subscriptions
Hall Hire Contributions
Group Events
Other Charitable Activities
**TOTAL RECEIPTS**
**Payments**
Charitable Activities
**Governance**
Accounts Preparation
Accounts Production
Independent Examiner
Trustee Expenses
**TOTAL PAYMENTS**
**Surplis/Deficit for the period**|**Note**|**2025**
**2025**
**2025**
**2024**
**£**
**£**
**£**
**£**
**Unrestricted**
**Restricted**
**Total**
**Total**| |---|---|---| ||5
6|0
2,220
2,220
0
2,860
2,860
455
0
0
1,000
8,661
8,661
8,017
11,570
11,570
10,154
2,405
2,405
2,265
0
0
516| |||25,496
2,220
27,716
22,408| |||19,568
2,479
22,047
19,671
0
0
0
0
649
649
1,901| |||20,217
2,479
22,696
21,572| |||5,279
-259
5,020
836| 9 **Forth Valley University of the Third Age Annual Report & Financial Statements For the Year Ended 31st March 2025** ## **STATEMENT OF BALANCES** |**Funds Reconciliation**
Balance as at 1st. April 2024
Surplus/Deficit
**Bank & Cash Balances**
Cash at Bank
Main Account
Cash at Bank
CACH Account
**Other Assets**
Gift Aid Due
24/25
23/24
22/23
**Liabilities**
Hall Rentals & Expenses|**Note **|**2025**
**£**
**Unrestricted**|**2025**
**£**
**Restricted**|**2025**
**£**
**Total**|**2024**
**£**
**Total**| |---|---|---|---|---|---| ||7|15,989
5,279|278
-259|16,267
5,020|15,432
836| |||21,268|19|21,287|16,268| |||21,268|19|21,268
19|15,989
279| |||21,268|19|21,287|16,268| |||1,401
0
0||1,401
0
0|1,041
739| |||1,401||1,401|1,781| |||955
**955**|**0**|955
**955**|1,030| ||||||**1,030**| These accounts were approved by the Trustees on 30th May 2025 and signed on their behalf by: Chair Treasurer 10 **Forth Valley University of the Third Age Annual Report & Financial Statements For the Year Ended 31st March 2025** ## **MOVEMENT IN FUNDS** |**Unrestricted Funds**
General Fund
**Restricted Funds**
CACH Fund
**TOTAL FUNDS**|**As at**
**31/03/2024**
**Receipts**
**Payments**
**As at**
**31/03/2025**
**£**
**£**
**£**
**£**| |---|---| ||15,989
25,496
20,217
21,269| ||15,989
25,496
20,217
21,269
278
2,220
2,479
19| ||278
2,220
2,479
19
16,267
27,716
22,695
21,288| 11 **Forth Valley University of the Third Age Annual Report & Financial Statements For the Year Ended 31st March 2025** ## **NOTES TO THE ACCOUNTS** ## **1 Basis of Preparation** These accounts have been prepared on the Receipts and Payments basis in accordance with: - **a)** The Charities & Trustees Investment (Scotland) Act 2005 - **b)** The Charities Accounts (Scotland) Regulations 2006 (as amended) There have been no changes to the preparation or to the previous year's accounts. ## **2 Fund Accounting** **a)** Unrestricted funds are those that may be used at the discretion of the committee in furtherance of the objects of the charity. - **b)** Restricted funds are those that may only be used for specific purposes. Restrictions arise when specified by the donor, or when funds are raised for a specific purpose. - **c)** Any purposes are set out below in the further notes. ## **3 Taxation** **a)** The charity is not liable to corporation tax or capital gains tax on its charitable activities - **b)** The charity is not registered for VAT, thus all costs are shown inclusive of VAT charged. ## **4 Transactions with trustees and related parties** **a)** No remuneration was paid to trustees or any persons connected with them during the year - **b)** No travelling expenses were reimbursed to trustees this year or last annual period. - **c)** The charity's insurance policy includes trustees indemnity insurance cover for all of its trustees. - **d)** The charity pays subscriptions to the Third Age National Group, u3a Scotland and Third Age Matters. The charity's trustees have opted to showing this expenditure within the Statement of Receipts and Payments as the full amount brought into the organisation from members and the full amount paid to the umbrella bodies. 12 **Forth Valley University of the Third Age Annual Report & Financial Statements For the Year Ended 31st March 2025** ## **NOTES TO THE ACCOUNTS** |**5**
**Grants**
Bank of Scotland Foundation
**6**
**Cost of Charitable Activities**
CACH Project
Events
Hall Rental
Postages, Stationery & Printing
Branch Dues
Sundries
Telephone & IT
Pubs & Subs
**7**
**Hall Rentals & Expenses**
Dunblane Centre
Stirling City Halls
Braeport Centre
Bridge of Allan Parish Church
Cambusbarron Community Centre
Alloa Old People's Welfare Committee|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2025**
**2024**| |---|---| ||2,100
2,100
0| ||**0**
**2,100**
**2,100**
**0**| ||**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2025**
**2024**| ||2,479
2,479
2,994
2,780
2,780
2,864
10,994
10,994
10,110
1,310
0
1,310
810
3,905
3,905
3,703
400
400
414
81
81
253
98
98
424| ||**19,568**
**2,479**
**22,047**
**21,572**| ||641.00
641.00
618.00
154.00
154.00
130.00
0.00
0.00
130.00
88.00
88.00
72.00
72.00
72.00
60.00
0.00
0.00
20.00| ||**955**
**0**
**955**
**1,030**| 13