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2021-03-31-accounts

The Abbeyfield Research Foundation

Annual Report and Accounts 31 March 2021

The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

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Contents

The Abbeyfield Research Foundation

Annual Report and Accounts

For the year ended 31 March 2021

Annual Report and Accounts
For the year ended 31 March 2021
Reference and Administrative Details 3
Report of the Trustee Directors 4–9
Independent Auditor’s Report 10–13
Statement of Financial Activities 14
Statement of Financial Position 15
Notes to the Financial Statements 16–20

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Reference and Administrative Details

Trustee Directors

Keith Fowler Cameron Swift Robin Means Brian Williams Kenneth Staveley

Independent Auditors

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW

Bankers

Barclays Bank Plc 1 Churchill Place London E14 5HP

Registered Office

St Peter’s House 2 Bricket Road St Albans Hertfordshire AL1 3JW

Solicitors

Bates Wells & Braithwaite London LLP 2–6 Cannon Street London EC4M 6YH

Legal Status

Registered company limited by guarantee, No. 9705217 Registered with the Charity Commission, No. 1167685

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Report of the Trustee Directors

The Trustee Directors present their report and the audited Financial Statements for the year ended 31 March 2021.

Principal activities

The principal activity of the Abbeyfield Research Foundation (the “Research Foundation”) continues to be granting financial support to fund high quality applied research for knowledge to enrich later life for everyone. In support of this, we took over the secretariat function of the UK Age Research Forum in May 2018, and we have continued to develop our fundraising activities throughout this financial year.

Review of activities

The emergence of the COVID-19 pandemic has significantly changed both research funding and the capability of researchers to undertake research in healthcare environments. It has also meant that projects that have already been funded through the Foundation are experiencing delays in collecting their data and almost every project has sought a no cost extension during this year. Because of these factors, the trustees took the decision to suspend funding new projects during the 2021/22 financial year. This will be reviewed in subsequent financial years.

.

In 2020/21 one project funded by the research foundation completed.

University of Nottingham

Realistic Rehabilitation for Outdoor Activities and Mobility in care homes: The ROAM II study

The aim of this study was to improve the quality of life of care home residents by increasing their access to outdoor mobility and activities. Recognising the expertise that care home staff brought, we set out to develop an approach to help increase outdoor activity through collaboration with care home stakeholders, which included staff, residents and families. Overall, the households reported to have the greatest capacity to support outdoor access were those where a significant number of residents were in receipt of NHS Continuing Healthcare funding and those whose residents were less dependent for cognition and mobility support.

Whilst progress with outdoor intervention activities varied between households, there were indications that the knowledge and experience exchange in the staff/resident/visitor groups had enabled new learning likely to result in increased opportunities for outdoor engagement.

Applications to the Academic Research Panel

We receive a steady flow of applications year on year. This financial year,we received approximately 62 stage one applications, showing that we have achieved visibility and reputation.

We currently offer three types of award:

  1. Pump-priming grants – preliminary evaluation of an innovative or novel concept over a maximum 12 months period to underpin subsequent more substantial application for funding (typically up to £20k).

  2. Small project grants – which cover applicant salary, running costs and possibly items of essential equipment (typically up to £50k per year over two years).

  3. PhD Studentships – prospective supervisors in institutions offering graduate training programmes for grants providing stipendiary funding for the student, university bench fees and project running costs (typically £20-30k per year over three years). This type of funding attracts and sustains talent into the sector. In total, ten PhD students have been funded so far, and without the Research Foundation’s funding, these students would very likely have not been able to study for a doctorate, having a life long negative impact on their career opportunities.

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Since our inception, we have awarded competitive peer-reviewed grants to leading researchers from UK universities and research institutions of just over £2m targeting advances and progress in the following areas:

Emerging results, as they are published by the grant holders, are proving highly original, often unexpected, and genuine drivers for change and progress. Presentation of findings at scientific meetings and publication in high impact peer reviewed journals is encouraged.

UK Age Research Forum

The Research Foundation took over the secretariat function of the UK Age Research Forum (“UKARF”) in May 2018. UKARF is an alliance of 26 organisations and government departments (including all the Research Councils) that fund research pertaining to older people and ageing such as Age UK, Alzheimer’s Research and the Alzheimer’s Society, British Heart Foundation, Stroke Association, Versus Arthritis, the Economic and Social Research Council and the Medical Research Council to name but a few.

Professor Cameron Swift, who is the Chair of our Academic Research Panel and a Trustee Director of the Research Foundation is a coconvenor of the UKARF. This is a key and influential position which has helped to further our research agenda, as represented by the Research Foundation and also TAS. The main purpose of the UKARF is to facilitate networking, provide an opportunity for exchange of information and to assist different ageing research funders to see their issues in a wider context. It provides a mechanism to share and exchange information and latest developments and to hear about and discuss current issues relating to ageing research, policy and practice. This is an opportunity for both the Society and the Foundation to use this Forum to increase visibility and facilitate discussions around co-funding opportunities and collaboration. We have also this year forged a partnership with the Almshouse Association where there is synergy in supporting older people in housing options in later life.

Fundraising will play an important part in the development of the Research Foundation's strategic aims. We are in the process of building relationships with potential funders who will support the Research Foundation's aims and objectives to enable us to continue to grow and fund more research projects. The Research Foundation remains a member of the Association of Medical Research Charities (AMRC).

Grant awards and expenditure

For the year ended 31 March 2021, the Research Foundation awarded new grants totaling £277,338 (FY 2020: £269,939).

The Abbeyfield Research Foundation, on awarding grants, records them as expenditure and liabilities. Cash payments of, £209,356 (FY 2020: £270,589) were made, in relation to those, and other grants awarded in earlier years. A sum of £715,452 (FY2020 £642,482) was held as a Creditor balance at the end of FY 2021.

The Abbeyfield Society (TAS), which has awarded the grants to fund the Abbeyfield Research Foundation (ARF), provides the relevant cash to meet calls on the creditor balance, when necessary.

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Grant Awards and Expenditure Table

Year of First
Award		 Institution Remaining
Commitments
2019/20
b/f
(£)

Incoming
Resources
& New
Awards in
2020/21
(£)
Outgoing
Resources &
Grants Paid
in 2020/21
(£)

Remaining
Commitments
2020/21
c/f
(£)
2015/16 University of
Edinburgh 17,396 (3,571) 13,825
2016/17 King's College
London 11,631 (8,992) 2,639
2016/17 University of
Sheffield 7,785 (2,750) 5,035
2016/17 Cardiff University 26,674 (19,767) 6,907
2016/17 University of
Surrey 5,920 5,920
2017/18 Nottinghamshire
NHS Trust 46,002 46,002
2017/18 University of West
London 3,883 3,883
2017/18 University of
Bradford 38,815 (21,812) 17,003
2018/19 Leeds Beckett
University 3,963 (3,963) -
2018/19 Nottingham
University 23,966 (23,966) -
2018/19 Anglia Ruskin
University 35,757 35,757
2018/19 Leeds University 86,638 (23,708) 62,930
2018/19 Cambridge
University 64,112 (23,678) 40,434
2019/20 Universityof York 63,361 (25,302) 38,059
2019/20 UWE Bristol 65,944 (8,209) 57,735
2019/20 UWS Scotland 63,768 (15,210) 48,558
2019/20 Universityof York 57,500 (19,447) 38,053
2019/20 UWL London 19,368 (3,994) 15,374
2020/21
Brunel University 73,247 73,247
2020/21 Glasgow Caledonia
University 46,318 46,318
2020/21
Cambridge/UEA 56,017 56,017
2020/21 Sheffield Hospitals
NHS Trust 86,795 86,795
2020/21 Sheffield Hospitals
NHS Trust 14,961 14,961
Movement
in Funds 642,483 277,338 (204,369) 715,452

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Financial Review

Income in 2020/21 consisted of the £300,000 (2020: £300,000) grant from TAS, representing TAS’s continuing annual commitment to research funding, plus a further support fund of £0 (2020: £53,109) for expenditure in relation to charitable activities incurred by the Research Foundation in 2020/21. A subscription from UK Age Research Forum, totaling £1,950 was also received during the financial year.

Expenditure of £277,774 (2020: £269,939) was incurred in the year on charitable activities. This relates to expenditure on research grants and details are set out in the table (on page 6), in the previous section of this report. The Research Foundation spent £436 (2020: £53,109) on administrative activities, including the cost of running the Academic Research Panel, in support of this grant making.

Debtors at the year-end, represented by amounts owing from TAS, increased to £711,275 (FY 2020 £411,868). Provision has been made for grant commitments to Grantees to be paid in future years. This amounts to £715,452, forming all of the year-end Creditor balance (FY 2020: £642,482). Consequently, cash balance at the year-end decreased to £67,953 (2020: £270,215).

Financial Activities in the year generated a net increase in General Funds of £24,176 (2020 £31,440). Awards exceeding payments by £72,969 (2020: Payments exceeded awards £648) were received in the year, resulting in a sum of £715,452 (FY 2019 £642,482) in relation to possible future expenses on grants awarded. This sum is shown in the Statement of Financial Position as the Creditor balance. General Funds increased in the year to leave a closing balance on General Funds of £63,777 (FY 2019 £39,601). As in the previous year, TAS has committed to fund the activities of the Research Foundation in 2021/22 and hence the Trustee Directors do not consider that a particular level of free reserves need to be maintained.

Structure, Governance and Management

The Research Foundation is a company limited by guarantee, incorporated in England and Wales (registered company number 9705217), having no share capital and with solely charitable objectives. The company was incorporated on 27 July 2015 and was registered in June 2016 with the Charity Commission for England and Wales (registered charity number 1167685). The sole member of the Research Foundation is The Abbeyfield Society.

The charitable objects of the Research Foundation, contained within its Articles of Association, are to advance the education of the public in all subjects relating to elderly persons or old age including their health and wellbeing in particular but not exclusively by the promotion of research and the dissemination of the useful results of such research.

The Trustees Directors of the Research Foundation are its Trustee Directors for the purpose of charity law and throughout this report are collectively referred to as the Trustee Directors. The Trustee Directors met on three occasions during the financial year. Potential new Trustee Directors are assessed through formal interview by the Nominations Committee of The Abbeyfield Society. The formal programme for trustee director induction comprises, amongst other things, information on the powers and responsibilities of the Trustee Directors including board meetings and the grant-making process.

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

The names of persons who were Trustee Directors at any time during the year are as follows:

The names of persons who were members of the Academic Research Panel at any time during the year are as follows:

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Trustee Directors’ responsibilities

The Trustee Directors are responsible for preparing the Annual report and the Financial Statements in accordance with applicable law and regulations.

Company law requires the Trustee Directors to prepare Financial Statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustee Directors must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the Research Foundation and of the incoming resources and application of resources, including the income and expenditure, of the Research Foundation for that period.

In preparing these Financial Statements, the Trustee Directors are required to:

The Trustee Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Research Foundation’s transactions and disclose with reasonable accuracy at any time the financial position of the Research Foundation and enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Research Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Public benefit

The Trustee Directors have given due consideration to Charity Commission guidance on the operation of the public benefit requirement and are satisfied that the work of the Abbeyfield Research Foundation meets that requirement.

Disclosure of information to auditors

The Trustee Directors who held office at the date of approval of this Report of the Trustee Directors confirm that, so far as they are each aware, there is no relevant audit information of which the Research Foundation’s auditors’ are unaware; and each Trustee Director has taken all the steps that he or she ought to have taken as a Trustee Director to make himself or herself aware of any relevant audit information and to establish that the Research Foundation’s auditors are aware of that information.

Trustee Directors’ indemnities

As permitted by the Articles of Association, the Trustee Directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The Research Foundation also purchased and maintained throughout the financial year Trustee Directors’ and Officers’ liability insurance in respect of itself and its Trustee Directors.

Independent auditors

The auditors, Crowe U.K. LLP, have indicated their willingness to continue in office and a resolution concerning their reappointment will be proposed at the Annual General Meeting.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The report of the Trustee Directors was approved on 17[th] August 2021 and signed on behalf of the Trustee Directors by :

Professor Brian Williams

Trustee Director

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

Independent Auditor’s Report to the Members of The Abbeyfield Research Foundation

Opinion

We have audited the financial statements of The Abbeyfield Research Foundation (‘the charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the Financial Statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions related to going concern

In auditing the financial statements, we have concluded that the Trustee Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustee Directors with respect to going concern are described in the relevant sections of this report

Other information

The Trustee Directors are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Report of the Trustee Directors.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion;

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and noncompliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were taxation legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, internal audit and the Audit and Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Julia Poulter Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London, UK 14[th] September 2021

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

The Abbeyfield Research Foundation

Statement of Financial Activities

For the year ended 31 March 2021

General Funds General Funds
2021 2020
Notes £ £
Incoming resources
Grants and donations 2 301,950 354,488
Total incoming resources 301,950 354,488
Resources expended
Charitable activities: Research 3 (277,338) (269,939)
Support costs (436) (53,109)
Total resources expended 4 (277,774) (323,048)
Net incoming resources before transfers 5 24,176 31,440
Reconciliation of Funds
Net movement in funds 24,176 31,440
Total Funds brought forward 39,601 8,161
Total Funds carried forward 63,777 39,601

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

The Abbeyfield Research Foundation

Statement of Financial Position

As at 31 March 2021

Company No: 9705217

Company No: 9705217
Note 2021 2020
£ £
Current assets
Debtors 6 711,275 411,868
Cash and cash equivalents 67,954 270,215
779,229 682,083
Creditors: amounts due within one year 7 (299,326) (278,105)
Net current assets 479,903 403,978
Total assets less current liabilities 479,903 403,978
Creditors: amounts after more than oneyear 8 (416,126) (364,377)
Net assets 63,777 39,601
Funds of the Charity
Unrestricted funds
General Fund and free reserve 63,777 39,601
Total funds of the Charity 63,777 39,601

The Financial Statements were approved and authorised for issue by the Trustee Directors on 17[th] August 2021 and were signed on its behalf by:

Professor Brian Williams

Trustee Director

The notes on pages 16 — 20 form part of the Financial Statements.

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

The Abbeyfield Research Foundation Notes to the Financial Statements

for the year ended 31 March 2021

1. Accounting policies

Basis of preparation

The Abbeyfield Research Foundation is a company limited by guarantee incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the contents page and the nature of its operations and its principal activities are set out in the Report of the Trustee Directors. The Financial Statements have been prepared in accordance with FRS102, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102.

Management does not believe that the preparation of these Financial Statements has required the use of any critical accounting estimates.

The qualifying entity exemptions in FRS102 that the Research Foundation has taken advantage of are as follows:

This information is included in the consolidated Financial Statements of The Abbeyfield Society as at 31 March 2021.

The following principal accounting policies have been applied:

Going concern

The Trustee Directors considers that in preparing the Financial Statements they have taken into account all information that could reasonably be expected to be available in relation to the ability of the group to continue as a going concern. The Trustee Directors have reviewed the business plan and on the basis of this information are satisfied that the Research Foundation is a going concern for at least 12 months from the date of signing the Financial Statements.

The Trustee Directors believe that preparing the Financial Statements on the going concern basis is appropriate due to the continued financial support of the ultimate parent company, The Abbeyfield Society. It is the intention of The Abbeyfield Society to continue this support in the foreseeable future thereafter.

Income

Income comprises external donations and the receipt of grants from the ultimate parent company, The Abbeyfield Society, plus expenses incurred by the Research Foundation but settled or waived by its parent. Grant income is recognised when approved at a meeting of the Board of The Abbeyfield Society Ltd, the ultimate parent undertaking.

All income is recognised on a receivable basis.

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The Abbeyfield Research Foundation Notes to the Financial Statements

for the year ended 31 March 2021

Expenditure

Grant commitment accounting

Each grant is recognised in the Statement of Financial Activities in the period the grant is awarded to the grantee. Consequently, for these grants, expected payments based on commitments awarded, but not yet paid, are recognised as an expense and a liability in the Statement of Financial Position. The balance of the potential grant commitments are shown as a Creditor balance.

Taxation

The Abbeyfield Research Foundation is a registered charity and is therefore potentially exempt from taxation of its income and gains to the extent that they fall within Part ii of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Acts 1992. No tax charge has arisen in the year.

2. Grants and donations

2021 2020
£ £
Grants received from The Abbeyfield Society 300,000 300,000
Other income – services donated by
The Abbeyfield Society - 53,109
Donations
 1,950 1,380
301,950 354,489

3. Resources expended on charitable activities

The grants awarded by the Research Foundation are set out in more detail in the Trustee Directors’ report on pages 4 to 9.

4. Staff costs and Trustee Directors emoluments

No remuneration was paid to any of the Trustee Directors for the period by the Research Foundation. The Research Foundation had no employees throughout the year.

Some administrative duties were carried out by The Abbeyfield Society, the ultimate parent undertaking, for which no charge was levied.

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5. Net incoming resources

Net incoming resources are stated after charging Auditor’s remuneration
(including VAT):
Crowe U.K. LLP fees for the audit of the Research Foundation’s annual
Financial Statements FY 21 (Prior Year Fee BDO LLP)
Events, PR and Hospitality
6. Debtors
Amounts due from parent undertaking
7. Creditors: amounts falling due within one year
Amounts owing on grants

8. Creditors: amounts falling due after one year
Amounts owing on grants
Analysis of Creditors is shown on page 19.		 2021
£
990
-
2021
£
711,275
2021
£
299,326
2021
£
416,126		 2020
£
990
-
2020
£
411,868
2020
£
278,105
2020
£
364,377

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

9. Analysis of Creditors

Unrestricted funds: B/F
2020
£
Incoming
Resources
2021
£

Outgoing
resources
2021
£

C/F
2021
£
University of Edinburgh 17,396 (3,571) 13,825
Kings College London 11,631 (8,992) 2,639
University of Sheffield 7,785 (2,750) 5,035
Cardiff University 26,674 (19,767) 6,907
University of Surrey 5,920 5,920
Nottinghamshire NHS Trust 46,002 46,002
University of West London 3,883 3,883
University of Bradford 38,815 (21,812) 17,003
Leeds Beckett University 3,963 (3,963)
University of Nottingham 23,966 (23,966)
Anglia Ruskin University 35,757 35,757
Leeds University 86,638 (23,708) 62,930
Cambridge University 64,112 (23,678) 40,434
University of York 63,361 (25,302) 38,059
UWE Bristol 65,944 (8,209) 57,735
UWS Scotland 63,768 (15,210) 48,558
University of York 57,500 (19,447) 38,053
UWL London 19,368 (3,994) 15,374
Brunel University 73,247 73,247
Glasgow Caledonia University 46,318 46,318
Cambridge /UEA 56,017 56,017
Sheffield Hospitals NHS Trust 86,795 86,795
Sheffield Hospitals NHS Trust 14,961 14,961
Total Fund movement for theyear 642,483 277,338 (204,369) 715,452
Creditors - due within one year
Creditors - due in more than one year		 (299,326)
(416,126)
(715,452)

*All incoming resources relate to amounts committed to individual grants.

These commitments will be met by TAS, the Parent company. The amounts shown have been accrued, as income.

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10. Related party disclosures

There were no related party transactions during the year (2020 – none) other than the income received from The Abbeyfield Society (note 2) and the balance due from The Abbeyfield Society (note 6).

11. Parent undertaking and ultimate parent undertaking

The ultimate parent undertaking is The Abbeyfield Society, a company incorporated in England and Wales (company no. 574816) and registered with the Regulator for Social Housing (registration no.H1046) and the Charity Commission (registration no.200719). The Abbeyfield Society is the sole member of The Abbeyfield Research Foundation and is able to exercise control of the subsidiary by removing and appointing Trustee Directors.

The Abbeyfield Society is the parent undertaking of the largest and smallest group for which group accounts are drawn up which include the Research Foundation. The Abbeyfield Society’s principle activities are the provision and development of accommodation, care and support services for older people and the promotion and support of the activities of member societies including the provision of technical, operational and administrative advice. The consolidated Financial Statements of The Abbeyfield Society are available from The Abbeyfield Society, St Peter’s House, 2 Bricket Road, St Albans, Hertfordshire, AL1 3JW.

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The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

The Abbeyfield Research Foundation St Peter’s House 2 Bricket Road St Albans Hertfordshire AL1 3JW

Registered Company No. 9705217 Registered Charity No. 1167685

The Abbeyfield Research Foundation | Annual Report and Accounts | 31 March 2021

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