Company number: 10259078
Charity number: 1168173
Abbe
ield We
Valle
Socie
Limited
Financial Statements
For The Year Ended 30th June 2024

Abbe
eld We
Valle
Socle
Llmited
Financial Statements
For The Year Ended 30th June 2024
Contents
Pa8e
Legal and administrative information
Report of the Board of Trustees
Independent Auditors, Report
10-12
Statement of Financial Activities
13
Balance Sheet
14
Statement of Cash Flows
15
Notes to the Financial Statements
16-33

Abbe
ield We
Valle
Socle
Limited
Le
al and Admlnlstrative Informatlon
Charity number
1168173
Company number
10259078
Registered Provider number
H3294
Principal and registered office
Wey Valley House
Mike Hawthorn Drive
Farnham
Surrey
GU97UQ
Auditors
Knox Cropper LLP
Office Suite I, Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE
Bankers
Barclays Bank PIC
I Churchill Place
London
E14 5HP
Investment Management
Barclays Wealth and Investment Management
Barclays Bank PIC
I Churchill Place
London
E14 5HP
Page I I

Abbe
ield We
Valle
Socie
Lbmited
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
Chairman:
Mr Brian Thomas
Vice Chairman:
Mrs G Ward
Secretary:
Mr D Hutchinson
Other members of the Board of Trustees:
Mr P Duffy- Treasurer to 14/08/2024
Mr F P Whitlock
Mr T Shepherd
Mr N Grealy
Ms E Edgar
Mr A Dick
Mr P Gresham- Treasurer from 14/0812024
Mr P Davies (appointed 07/11/2024)
Ms S Ferguson (appointed 26/08/2024, resigned 05/11/20241
Senior Management
The Senior Management team in place at the date of the signing of these accounts were.,
Ms STidy
Chief Executive Off icer
Mr J Wigmore
Chief Finance Officer
Ms S Hartley
Chief Operating Officer
Ms L Arnold
Operations Manager
Mr l Looms
Marketing & PR Manager
The Board of Trustees of the Society (and Directors of the Company) presenttheir Report and audited Financial
Statements for the year ended 30th June 2024.
Status
The Society is registered as a Charitable Company - Abbeyfield Wey Valley Society Limited (Charitable
Number: 1168173 and Company Number: 102590781 and is governed by its Articles of A550ciation. The Society
is registered with the Regulator of Social Housing (Homes England) (No. H3294} and six of the Society's homes;
Wey Valley House, Hatch Mill, Maitland House, Nower House, David Gresham House and Ridgway Court, as
well as domiciliary care, together with the CEO, are registered with the Care Quality Commission under the
Care Standards Act 2000.
Purpose & principal actlvlty
The principal activity of the Society is to provide accommodation for the relief and care of elderly persons
suffering from disabilities of age or otherwise being in need. To this end, the principal activities of the company
are the operation of residential care, nursing care, sheltered housing, and domiciliary care services.
Public Beneflt
The primary public benefit offered bythe Society IS the relief of loneliness forthe elderly, but more specifically,
the benefits provided by the Society include..
Providing residential accommodation to elderly people who are unable to look after themselves.
Caring for elderly people who are frail and need long term nursing care.
Providing sheltered housing to elderly people unable to live on their own.
Providing domiciliary care to the community.
The Trustees confirm that they have had regard for the Charity Commission's guidance on public benefit.
Page | 2

Abbe
ield We
Valle
Soclet Limited
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
Styateglc Report:
Objectives of the Society
The long-term objectives of the Society are set by its objects, as per 3.1 of the Articles of Association. The
Society is established for the relief and care of an increasing number of elderly persons of all classes, beliefs
and nationalities suffering from the disabilities of old age or otherwise in need by the provision and
management of housing including social housing, accommodation or assistance for such persons on a not-for-
profit basis. The short-term objective is to ensure that the company remains viable and to ensure that it can
continue to meet its long-term objective.
Measurement of success against aims and objectives
The Trustees have referred to the guidance in the Charity Commission general Euidance on public benefit
when reviewing the aim5 and objectives of the Society and in planning its activities and in measuring its success
against those aims and objectives. The objects will be principally attained by the provision of nursing care,
living assistance, meals and accommodation in the care homes that are run by the Society. The Society
measures its success against long-term objective5 by the level, quality, range of care provided, and con51Stently
high occupancy levels. Short-term success is measured by achievement of a sustainable net surplus.
As well as its financial position the Society is continually monitoring its performance by the use of
questionnaires completed by both sponsors and resident5.
Value for money
Through the Trustee structure of the Society, it 15 able to maintain its fees at a level below that of other
providers offering similar levels of care/services in its geographical locality. The Board is therefore very
confident that its service users are being offered value for money. The Society's principal funding source is
fees paid by our service users, and fees paid on behalf of our service users by County Councils and Care
Commissioning Groups. The Society also has a number of volunteers who provide companionship to the Care
Home residents on an ad-hoc basis.
Value
or Mone
metrics
In response to the Value for Money Standard issued by the Regulator of Social Housing, the Society reports
the required seven Value for Money metrics. The Society has chosen to publish comparatives from The
Abbeyfield Society {TAS1- Housing Association Number H1046.
Metric l - Reinvestment %
This metric looks at the investment in properties (existing stock as well as new supply) as a percentage of the
value of total properties held.
The only major capital expenditure during the year was approximately £315,000 spent on professional fees on
the proposed Wey Valley House Extension.
Metrics 2- New su
I delivered %
The Society did not deliver any new supply,
Page | 3

Abbe
leld We
Valle
Socie
Llmlted
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
Metrics 3- Gearin
The Society's sheltered social housing is all freehold and is owned outright. The Society has one long term loan
against one of its care homes, Wey Valley House.
reciation Amortisotion Ma'or Re
Metrics 4- Eornin
Interest Cover %
sbe
ore Interest Tax De
airs Included
EBITDA MRI
The only interest paid by the Society relates to the loan identified in Metric 3.
Metric 5- Headline social housin
cost
er unit
Metric 6- 0
eratin
Mar
in%
Metric 7- Return on ca
ital em
ROCE
This metric compares the operating surplus to total assets less current liabilities.
Year ended
3010612024
4.IOA
2.5%
3.9%
0.￿A
(31.0)%
5,344.1%
£18,531
£18.531
£51,602
2.43%
(83.67)%
1.16%
0.550A
Year ended
3010612023
0.5Yo
0.0,
Comparator
Metrlc I
Care
Sheltered
Overall
4.0Y.
0.00
{12.0)0/
13,979)Y,
Metric 2
Metric 3
Metric 4
Metric S
o.oY.
125.IIYo
{14,174.91Y.
£43,650
£15,715
£41,399
{8.61%
159.61Y.
18.41%
13.010
Care
Sheltered
Overall
Care
Sheltered
Overall
£27,378
Metrlc 6
127.941%
{16.211Y.
17.1}%
Metric 7
Results for the year
The Financial Statements have been prepared in accordance with the Housing & Regeneration Act 2008 and
The Accounting Direction for Private Registered Providers of Social Housing 2022 and the Charities SORP.
The care and management activities of the Society during the year show an operating surplus of £131,392
12023: £711,465 deficit) on a turnover of £11,319,264 {2023: £8,450,188). After adjusting for net investment
returns, and investment and property revaluations, the resulting Net Movement in Funds as identified on the
SOFA are a gain of £576,90712023: gain of £9,117,382).
Within this result, the Home Care business generated a turnover of £170,03112023: £186,129).
Donations received in the year amounted to £54,92212023: £88,032) The excess of interest receivable over
that payable amounted to £181,100 {2023: net interest receivable of £49,991).
Page | 4

Abbe
ield We
Valle
Socie
Limited
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
The COVID - 19 pandemic is now firmly behind us. However, on the back of the pandemic, Nower House
continues to struggle to reach acceptable occupancy rates. The Society has instigated a more in-depth &
holistic marketing effort in order to reduce the number of voids. Significant expenditure has been made and
will continue to be made to ensure the home is more appealing not only to the current residents but to
potential residents as well.
The small operating surplus for the year for the year was despite the voids at Nower House and high levels of
agency staff. Management is actively working to reduce both voids and agency costs.
Fixed Assets
Additions and disposals of fixed assets together with movements in the associated depreciation provisions are
set out in Note 11. The Board are satisfied that the value of its housing stock is in line with the net book value
of the underlying fixed assets. The net book value of the Societws land and building assets at the 30th June
2024 was £16.1 million. Associated with these assets are historic Social Housing Grants which are identified in
Note 18 and amountto £3.43 million.
Investments
The Society continues to hold investments managed by Barclays Wealth in one of their Charity Unit trusts.
Details of movements within the investment can be found in Note 12. The Society had a good 23/24 financial
year.
Equality and Diversity policy
The Society has a robust Equality and Diversity Policy which promotes awareness and defines appropriate
training to enable staff to recognise and avoid discrimination, harassment, viciimisation and promote equal
opportunities.
Job applicants will not be asked about health or disability before a job offer is made, except in the very limited
circumstances allowed by law, for example, to check that the applicant can perform intrinsic parts of the role
they are applying for, (E,g. heavy lifting - taking account of any reasonable adjustments}, or to see if any
reasonable adjustments can be made prior to employment.
The Society is responsive to the needs of its employees and as such will always actively seek to make
reasonable workplace adjustments should any employee of the Society become disabled during employment.
The Society appreciates that members of staff may be neurodivergent and will endeavour to ensure that
neurodivergent employees are not treated unfairly or suffer any detriment due to their neurodivergence.
Mandatory training on Equality and Diversity is undertaken by all staff annually.
Post Balance Sheet Events
Kemnal House, the Societ¢s sheltered home in Haslemere, is up for sale.
Reserves Policy
The Charity Commi55ion expects that all charities have plans to spend the money that they receive for
charitable purposes. However, they also expect charitie5 to hold reserves to meet specific longer-term
charitable purposes, and also to mitigate the risks inherent in their businesses. The Trustees believe that the
Society requires adequate reserves:
Page | 5

Abbe
ield We
Valle
Societ Limlted
ort of the Board of Trustees
ForThe Year Ended 30th June 2024
l. To address the possibility of a rapid downturn in occupancy level which would adversely affect our income
generation. Thu5, a reserve would be needed to allow for a restructuring of the Society.
2. To enable an orderly liquidation in the most unlikely event of the Society needing to cease operation.
3. To ensure its existi ng operations remain f it for purpose, and to ensure the financial flexibil ity to develop
new services in existing and potentially new locations.
4. The Society, in li ne with its charitable objectives, intends to ensure that its services are available to those
in need.
The Balance Sheet shown in these financial statements, and also shown in Note 28, shows the Society to have
total funds of £23,571,717 at 30th June 2024. Of this balance, £3,728,651 is held in restricted funds as
identified in Note 21 to the accounts.
A 'Prudential Reserve, is held at £1,000,000 to cover items l & 2. It increased during the year by £150,000 to
reflect the acquisitions of Nower House & David Gresham House in the previous year.
A 'Designated Reserve, is held at £8,539,803 to cover item 3.
Finally, in order to adequately perform its charitable purposes, identified in 4 above, the Society holds a
'Revenue Reserve, at the 30th June 2024 of £10,303,263, These reserves, together with those reserves gained
from historical mergers are held within the Fixed Assets of the Society together with those net current assets
not already allocated to the 'Prudential Reserve, and the 'Designated Reserve,.
The Trustees review Reserve balances annually to ensure they are adequate, and that they are held in
appropriate asset types.
Future Plans
The Society continues to use its cash resources and operational expertise to make improvements to Nower
House, with the aim to increase occupancy to the level of the Society's other homes.
Following the merger with Abbeyfield North Downs, the Society continues to embed David Gresham House
into the Society.
The Society also plans a significant extension to Wey Valley House, to modernise and increase the number of
rooms, to ensure it remains competitive in today's market and 'fit for the future'_ The works will provide new
rooms with en-suite walk in showers, an upgraded lift, new seating areas and a new hairdressing salon.
There have been no complaints in our Sheltered Housing for the period, therefore no annual complaints
performance & service improvement report is required.
Page | 6

Abbe
ield We
Valle
Societ Llmited
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
Organlsation Structure
The members of the Board of Trustees have overall responsibility for ensuring that the Society has appropriate
systems of control, care, financial and otherwise. The systems of financial control are designed to provide
reasonable, but not absolute, assurance against any material financial misstatement, especially of loss. They
include an annual budget, approved by the Board of Trustees, regular review of actual results and variances
from budget, and delegation of authority and segregation of duties as far as possible given staffing levels. The
Board meets at least four times a year.
The Society operates two separate sub-committees corresponding to the core areas of the Society's business-
namely Care and Finance. Each is headed by a trustee and reports directly to the Board of Trustees. These sub-
committees meet at least four times a year.
The Chair of each sub-committee and the Board Chairform the Remuneration Committee which meets at least
once a year to agree Management pay setting for the upcoming year. No Trustees are paid for their services
although expenses incurred in the course of their duties are encouraged to be claimed.
The Society has a very strong and effective Board of Trustees. We maintain a matrix of people against needed
skills and experience, The Trustees are thus able to consider all issues coming before them in a proper manner,
but consultants are used where particular special 1st advice is required.
Trustees are usually recommended to us or come forward as volunteers, though it is becoming increasingly
difficult to find suitable individuals who are prepared to take on the responsibility involved. We would
welcome trustees of any gender, sexual orientation, or ethnic background but sadly at the present time we
have no-one from one of the minority communities. This is probably due to the demographic makeup of the
local area.
All new trustees are interviewed by the Chairman, Vice-chairman and Chief Executive prior to appointment.
They then have an induction programme of at least a day. The aforementioned three people monitor the
performance of the Board on a continuous basis and equally the trustees are encouraged to provide feedback
to the Chairman and Vice Chairman on their performance.
Risk management
The Board of Trustees formally monitors risks annually and sets up policies to mitigate them.
The members of the Board of Trustees are committed to ensuring that the Society's System of internal controls
is adequate and effective. A number of steps have been taken to enhance further the existing systems of
internal control. These i nclude-
a) A progressive revision and upgrade of risk management arrangements; and
b) A review of the Operational Risk Assessment programme to incorporate both qualitative and
compliance review of al l of the Society's activities.
The Society maintains an Assets & Liabilities register and completes an annual Stres5 Test of the Society's
financial strength. Both have given further confidence to the Trustees that the Society is in a strong position
to continue its service and meet its public benefit for the foreseeable future.
Health and safety
The Society 15 aware of it5 responsibilities on matters relating to health and safety. The Society has prepared
detailed health and safety policies and provides regular training and education on health and safety matters.
Page | 7

Abbe
ield We
Valle
Societ Limited
Re
ort of the Board of Trustees
For The Year Ended 30th June 2024
Statement of the Board of Trustees Responslbllities
The Charities Act 2011 and Companies Act 2006, and Registered Social Housing legislation requires the Board
to prepare financial statements for each financial period which give a true and fair view of the state of affairs
of the Society as at the end of that financial period and of the surplus or deficit of the Society for the period
ended on that date. In preparing these financial statements suitable accounting policies have been used,
framed to the best of the Board's knowledge and belief, by reference to reasonable and prudent judgments
and estimates and applied consistently. Applicable UK accounting standards and statements of recommended
practice have been followed. The Board is also required to indicate where the financial statements are
prepared other than on the basis that the Society is a going concern.
The Board of Trustees is responsible for ensuring the keeping of proper books of account which disclose with
reasonable accuracy at any time the financial position of the Society and which enable them to ensure that
the accounts comply with the Charities Act 2011, the Companies Act 2006, the Housing & Regeneration Act
2008 and The Accounting Direction for Private Registered Providers of Social Housing 2022. They are
responsible for safeguarding the assets of the Society and hence for taking reasonable steps forthe prevention
and detection of fraud and other irregularities.
Page18

Abbe
leld We
Valle
Soclet Limited
ort of the Board of Trustees
For The Year Ended 30th June 2024
Provision of Information to Auditors
So far as each Member of the Board is aware at the time the report is approved:
There is no relevant audit information of which the company's auditors are unaware, and
The Board members have taken all steps that they ought to have taken to make themselves aware of
any relevant audit information and to establish that the auditors are aware of that information.
Signed on behalf of the Board
Mr Brian Thomas: Chairman
th
Dated: 19 December 2024
Page | 9

Inde
endent Auditors, Re
ort to the Members
of Abbe
ield We
Valle
Societ Limited
Opinion
We have audited the financial statements of Abbeyfield Wey Valley Society Limited (the 'Society'l for the year
ended 30th June 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement
of Cash Flows and the related notes. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted
Accounting Practice}.
I n our opi nion the financial statements:
give a true and fair view of the state of the Society's affairs as at 30th June 2024 and of its income and
expenditure, including its result, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and
Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing
2022.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing (UK} IISAS (UKII and
applicable law. Our responsibilitie5 under those standards are further described in the Auditors
responsibilities for the audit of the financial statements section of our report. We are independent of the
Society 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 relatlng to going concern
In auditing the financial statements, we have concluded that the directors, 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 company's abil ity 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 responsi bilities of the directors with respect to going concern are described in the
relevant sections of this report.
Other informatlon
The trustees are responsible for the other information. The other information comprises the information
included in the annual report, other than the financial statements and our Report of the IndependentAuditors
thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 misstatements, we are required to determine whether
there is a material misstatement in the financial statements or a material mi55tatement of the other
information.
Page 110

Inde
endent Auditors, Re
ort to the Members
of Abbe
fleld We
Valle
Socle
Limlted
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:
the information given in the Report of the Trustees for the financial year for which the financial
statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Society and its environment obtained in the course
of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
reportto you if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been
received from branches not VlSited by us; or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies. exemption from the
requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsiblllties of trustees
As explained more fully in the Statement of Trustees Responsibilities set out on page eight, the trustees (who
are also the directors of the Society for the purposes of company lawl are responsible for the preparation of
the financial statements and for being satisfied that they give a true and fairview, 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 Society'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 Society or to cease operations,
or have no realistic alternative but to do so.
Our responsibilltles for the audit of the flnancial 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 a Report of the Independent Auditors
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 IUKI 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 economic decisions of users taken on the basis of these
financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud, The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the Society
which have a direct impact on the financial statements and determined that the most significant are the
Page 111

Inde
endent Auditors, Re
ort to the Members
of Abbe
fleld We
Valle
Soclet Llmited
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, (United Kingdom GenerallyAccepted Accounting Practice), the CompaniesAct 2006 and Standards
issued by the Regulator of Social Housing.
We understood how the Society is complying with those frameworks via communication with those
charged with governance, together with the review of the Society's documented policies and procedures.
We assessed the susceptibility of the Society's financial statements to material misstatement, including
how fraud might occur by considering the key risks impacting the financial statements. These included
risks associated with revenue recognition and management override of controls, which were discussed
and agreed by the audit team.
Our approach included agreeing the Societ¢s recognition of income to the terms of the underlying
contract, the review of journal entries processed in the accounting records and the investigation of
significant and unusual transactions identified from our review of the accounting records.
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Our procedures involved review of the reporting to the directors with respect to the application
of the documented policies and procedures and review of the financial statements to ensure compliance with
the reporting requirements of the Society.
There are inherent limitations in the audit procedures described above and, the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial statements,
the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is
higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment
by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilitie5 for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uk/auditor5responsibilities. This description forms part of our
Report of the Independent Auditors.
Use of our report
This report is made solely to the Society'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 auditors, report and for no other purpose. To
the fullestextent permitted by law, we do not accept or assume responsibilityto anyone other than the Society
and the Society's member5 as a body, for our audit work, for this report, or for the opinions we have formed.
Matthew Elkin5 FCA (Senior Statutory Auditor)
Knox Cropper LLP
Chartered Accountants and Statutory Auditors
Office Suite I, Haslemere House
Lower Street
Haslemere
Surrey GU27 2PE
Dated: 2* December 2024
Page | 12

W Vall Socle
Limlt
Statement of Flnanclal Activiti
l#tu
or#tl the Incomeand Ex en
ure Account
rTh YearEnded 30th Jun
2023
Restrirted
funds
É'ooo
U￿re￿rICted
funds
Restrlrted
funds
Total
funds
£'o
Unre$trlcted
funds
£'ooo
Total
funds
NDles
Income from
Donatlons and grants
Charitable Actiwties
Investment5
Other Trading kfjvifies
Gift on Charity Comblnatlon
55
11.261
274
87
91
8.356
125
11.261
274
8,356
125
30
8,076
16,564
1,273
1,360
9,349
17,924
11,593
11,593
Expendlture on
Raising Funds
Charitable Activktles
17
10,954
10,971
17
11,174
11,191
220
220
9,116
9,125
36
36
9,152
9,161
Gain5lllossesl on revaluation of investments
Gain on sale of property
175
175
567
12091
358
Net in¢ome/lexpenditurel
Transfers between funds
Net movement in fund5
797
loo
897
12201
IIIK)I
13201
577
8,003
1,115
9,118
577
8,003
1,115
9,118
Funds brought forward 15tJuly 2023
18,947
22,995
10,944
2,933
13,877
Funds carriedforward 30th June 2024
19,844
3.728
23,572
18,947
4,048
22,995
Pa8e113

Abbe
ield We
Valle
Societ LimSted
Balance Sheet
At 30th June 2024
Notes
2024
£'ooo
2023
£'ooo
Tanglble Fixed Assets
Housing Properties at Depreciated Cost
Vehicles
Fixtures, fittings and equipment
Investments
11
li
li
12
16,090
12
406
2,829
15,773
16
245
3,751
19,337
19,785
Current Assets
Stocks
Trade and Other Debtors
Cash and Cash Equivalents
13
14
15
12
429
4,001
408
5,017
5,433
4,442
Current Liabllltles
Creditors: amounts falling due within one year
16
839
873
Net Current Assets
4,594
3,569
Total Assets less Current Liabilities
23,931
23,354
Long Term Llabillties
Creditors: amounts falling due after one year
17
359
359
Total Net Assets
£23,572
£22,995
Funds
Unrestricted Funds
Restricted Funds
20
21
19,844
3,728
18,947
4,048
Total Funds
£23,572
£22,995
th
The Financial Statements were approved at the Board of Trustees meeting on 19 December 2024, and signed
onit
half by:
Mr B Thomas- Chairman
Mr P Gresha
- Treasurer
Page114

Abbe
leld We
Valle
Socie
Limited
Statement of Cash Flows
For The Year Ended 30th June 2024
Notes
2024
£'ooo
608
2023
£'ooo
12581
Net Cash Generated From Operatlng Activities
Cash Flows From Investing Activities
Purchase of property comporients
Purchase of other fixed a55ets
Purchase of fixed asset investments
Proceeds from sale of fixed assets
Disposal of investments (Note 11}
Investment income
Investment management fee5
Movement in cash held in investments
Total Cashflows From Investing Activitie5
1623)
1253)
1557)
1661
(1471
2,371
162
34
{8}
19)
2,337
1,612
133
{141
113
411
Cash Flows From Financing Actlvitles
Interest paid
Repayment of Loans
Total Cashflows From Financlng Activities
(31
13)
13}
13)
Net Change In Cash And Cash Equivalents
Cash And Cash Equlvalents At Beginning Of The Year
Cash And Cash Equivalents At End Of The Year
1,016
4,001
£5,017
2,076
1,925
£4,001
Cash Flows From Operating Activities
Net (expenditurel/income for the year
Depreciation
Investment Income and Interest Receivable
Interest Payable
Non-cash gift on charity combination
(Increaselldecrease in Stock
{1 ncreasel/decrease i n Debtors
I ncreaselldecreasel i n Creditors
IGain)/loss on sa le of asset5
IGains)/Ios5es on i nvestments
Investment management fees
577
357
{274)
9,118
291
1125)
(8,9511
91
134)
45
11751
14
£608
1921
11551
(3581
£{258)
Cash and Cash Equivalents
Bank Balances
5,017
4,001
£5,017
£4,001
Analysis Of Changes In Net Debt
At I" July
2023
£'ooo
4,001
th
At 30 June
2024
£'ooo
5,017
Cash Flows
£'ooo
1,016
Cash
Loans falling due within one year
Loansfalling due in more than one year
134)
£3,967
134}
£4,983
1.016
Page115

Abbe
ield We
Valle
Socie
Llmited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
Status of the Society
The Society is a private company limited by guarantee registered under the Companies Act 2006
(Registered Number 10259078) in England & Wales and the Charities Act 2011 (Registered Number
11681731. The Society is also registered under the Housing & Regeneration Act 2008 (Regulator of Social
Housing number H3294). The Society's registered office address and a description of the nature of the
Societ¢s operations can be found in the Report of the Trustees.
The following accounting policies have been used consistently in dealing with items which are considered
material in relation to the Society's accounts.
Basis of Accounting and Assessment of Going Concern:
The financial statements have been prepared in accordance with the Statement of Recommended
Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standards applicable in the UK and Republic of Ireland IFRS 102) Second Edition, the Financial
Reporting Standards applicable in the UK and Republic of Ireland {FRS 102} and the Companies Act 2006.
Abbeyfield Wey Valley Society Limited is a public benefit entity and applies FRS 102 accordingly. The
accounts comply with the Companies Act 2006, the Housing and Regeneration Art 2008, the Accounting
Direction for Private Registered Providers of Social Housing in England 2022.
The accounts have been prepared in £GBP sterling, which is the functional currency of the Society.
Monetary amounts in these financial statements are rounded to the nearest thousand £.
The Trustees consider there are no material uncertainties about the Society's ability to continue as 3
going concern.
Fixed Assets- Houslng Land and Bulldings
Housing land and buildings are stated at cost. The cost of properties is their purchase price together with
incidental costs of acquisition including interest payable. Interest payable is capital ised by applying the
Society's cost of borrowing to expenditure during the construction or refurbishment of any property up
to the date of practical completion. Additionally, any professional fees incurred in the construction or
refurbishment of any property are also capitalised cost.
In accordance with paragraph 17.16 of FRS 102, properties are accounted for on a component Cost basis.
In the absence of more precise information, the value of each component has been established using a
matrix agreed between the National Housing Federation and the Institute of Chartered Accountants of
England & Wales, with the exception of the Hatch Mill redevelopment of 2012 for which component
information was available.
Social Houslng Grant
Where developments have been financed wholly or partially by Social Housing Grant, the grant is
recognised as income when received or receivable in accordance with the performance model. Social
Housing Grant may be repayable in certain circumstances including the sale of the property or a change
i n its use.
Fixed Assets: Fixtures, Fittings and Equipment
Assets donated to the Society are not included in the balance sheet. Other assets are included at cost.
Only assets purchased with a cost greater than £1,000 are capitalised.
Page116

Abbe
ield We
Valle
Societ Limited
Notes to the Ftnancial Statements
For The Year Ended 30th June 2024
Loan Finance Costs
Costs incurred in the securing and raising of loan finance are amortised over the period of the loan.
Income
All income is recognised once the Society has entitlement to the income, it is probable that the income
will be received and the amount of income can be measured reliably.
Turnover represents fees receivable, and income from care at home services which are recognised in
the period to which they relate.
Monetary donations to the Society are credited to the Statement of Financial Activities when it is
probable that they will be received. Grants, including government grants, are measured using the
performance model and are credited to the Statement of Financial Activities when it is probable that
they will be received and any conditions have been satlsfied.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the Society to that expenditure, it is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Where costs cannot be directly attributed to particular
headings they have been allocated to activities on a basis consistent with use of the resources.
Resources expended includes irrecoverable VAT.
Depreciatlon
The cost of completed Housing Properties (net of the cost of land) is depreciated over the life of the
properties. Properties are accounted for on a component cost basis with each component being
depreciated over its estimated useful life. The principal components and the depreciation rate applied
to each component are set out below:
Years
n/a
loo
70
30
15
15
Years
20
30
30
40
20
20
Land
Main Structure & Fabric
Roof & Covering
Window5 and External Doors
Gas Boilers
Grounds and gardens
Kitchen
Bathroom/W.C.
Heating/ventilation/plumbing
Electrics
Lift
Internal structures
Leasehold Land is amortised over the term of the 125 year lease which began in 1983.
Fixtures, fittings & equipment are depreciated over a 5 year life on a straight line basis.
Computer equipment is depreciated over a 3 year life on a straight line basis.
Vehicles are depreciated on a 25% reducing balance basis.
A full year's depreciation is charged on fixed assets in the year of purchase, with no charge applied in
the year of disposal. Assets in the course of construction are not depreciated until they are brought
into use.
Page117

Abbe
eld We
Valle
Societ Limited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
Stocks
Stocks are valued at the lower of cost or net realisable value, and primarily comprise of food stocks
and cleaning materials.
2.10 Investments
Over 99Yo of the Society's investments are in unit trusts. Initially they are recognised at their
transaction value and subsequently measured attheir fair value as at the balance sheet date using the
closing market price. The statement of financial activities i ncludes the net gains and losses arising on
the revaluations and disposals throughout the year.
Realised gains and losses on investments are calculated as the difference between sales proceeds and
their opening carrying value or their purchase value if acquired subsequent to the first day of the
financial year. Unrealised gains and losses are calculated as the difference between the fair value at
the year end and their carrying value.
2.11 Debtors and creditors
Trade and Other Debtors are classified as basic financial instruments and are measured and recorded
in the accounts at the initial transaction price.
Debtors and Creditors are subsequently measured at amortised cost using the effective interest rate
method. Financial assets classified as receivable within one year and financial liabilities classified as
payable within one year are not amortlsed.
2.12 Corporatlon Tax and VAT
The Society has charitable status and is exempt from Corporation Tax. The Society is not registered
for VAT. No VAT is charged to residents and expenditure in the Statement of Financial Activities
includes the relevant VAT.
2.13 Pensions
The Society used to operate a pension scheme for employees which meets the requirements of being
a Qualifying Workplace Pension Scheme. The scheme was administered and operated by Standard Life
Assurance Company which holds the assets of the scheme. It was a voluntary defined contribution
scheme which is closed to new members. The Society additionally operates an auto-enrolment
pension scheme which is operated through the National Employment Savings Trust {NESTI with both
employees and the Society paying contributions monthly to NEST on a percentage of 'Qualifying
Earnings, basis. Following the two m05t recent mergers, the Society also has schemes with NOW:
Pensions and The People's Pension. These two schemes operate in a similar fashion to NEST.
2.14 Significant Management Judgements and Estlmatlon Uncertainties
Im
airment:
Properties are assessed for impairment when there is an indication that the property has been
impaired. This includes properties in the course of development. The assessment is carried out by
comparing the carrying value of the property with its recoverable amount (taking into account service
potential), and, where applicable, the property is written down to its recoverable amount.
De
reclatlon:
The depreciation of property components is based on management's estimate of their useful lives
which is kept under review.
Doubtful Debts
rovision:
The provision for doubtful debts is based on management's estimate of the recoverability of residents,
arrears. No provision for doubtful debts is thought to be needed at 30th June 2024.
Page | 18

Abbe
ield We
Valle
Societ Limited
Notes to the Financial Statements
For The Year Ended 30th June 2024
Income from donations and grants
2024
£'ooo
2023
£'ooo
Covid-related Fund Grants
Donations and bequests
55
88
Total income from donations and grants
£55
£91
Covid-related Fund Grants represents government grants received to support the Society through the
Covid19 pandemic. There are no unfulfilled conditions or contingencies related to government grants.
Income from charltable activities
Gross fees from accommodation services
Less voids
12,993
11,902)
9,353
(1,1831
Net fees receivable from accommodation services
11,091
8,170
Home Care activities
170
186
Net fees from all activities
£11,261
£8,356
Investment income
Interest on funds on call and short notice
Accumulated income
Portfolio dividends and interest
184
71
19
53
61
li
Total investment income
£274
£125
Income from Other Trading Activities
Fundraising events
Total income from Other Trading Actlvlties
£3
£3
Page | 19

Abbe
ield We
Valle
Societ Limited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
Expendlture on charltable activltles
2024
£'ooo
2023
£'ooo
Employee costs, agency staff and training
Catering
Other care expenses
Establishment expenses
Repairs and maintenance
Vehicle costs
Depreciation and amortisation
Residents, amenities
I nterest payable
Debt provision and write-offs
Disposal of assets
Development costs
General management expenses
Support costs (Note 8)
8,060
572
296
493
371
14
357
70
6,581
417
226
370
449
12
291
56
89
45
57
318
486
253
437
Total expenditure on charitable activities
£11,174
£9,152
Support costs
2024
£'ooo
2023
£'ooo
Employee costs
Administration costs
Payroll fees
Professional fees
Auditors, remuneration
235
197
12
32
io
183
157
12
62
23
Total support costs
£486
£437
Remuneration payable to the auditors for the auditing of the accounts, excluding VAT, amounted to
£11,800 {2023: £11,450).
Raislng Funds
2024
£'ooo
2023
£'ooo
Investment management fees
Costs of fundraising events
14
Totsl Ralsing Funds
£17
£9
Page | 20

Socl
Fln
nclal S
rEn
10. part￿larS of turnover, operatlng
costs and operatlnB Surplus
Z024
Care Homes
Housl
Home Care
Olher
£'ooo
TOTAL
Fees at full occupancv
Home Care fee5
Other income Igrantsldonarionsl
Rentsl Income at full or¢upancv
Servlce char8e5
Gross Income Ibeforevoldsl
Void5
Net Inwmes laftervoidsl
Direct Costs
SurplU￿1defititl before ￿ntrol overhead
12,607
12,607
170
170
58
123
263
386
12141
172
12711
123
263
13,221
11,9021
11,319
110,5731
746
12,607
11.6881
10,919
110.0961
823
170
58
170
11891
119
58
41
Central overhead allocatlon
Operatln8 surplu5/ldefld¢l
15581
265
1441
11431
131
1321
16151
131
41
Pa8e121

Abbe
Socle
LSmlte
Notesto th
F rTheYearÉnd
10. Partl¢ularsof turnover, opeiatln
¢osts and operating surplus l¢ontlnuedl
2023
Care H
me Care
Other
TOTAL
£'ooo
£'ooo
Fees at full Qccupancv
Home Care fees
Other income18rants/donationsl
Rental Income at fvll uccupancv
Service charges
Gross Income Ibeforevoidsl
Voids
Net incomes laftervoidsl
Dirert Costs
Surplus/ldeflcitl before central overhead
8,993
8,993
186
91
108
252
360
11771
183
12421
1591
108
252
9,633
11,1831
8,450
18,6191
11691
8.996
11,0061
7,990
18,1991
12091
186
91
186
11691
17
91
82
Central overhead 3llocation
Operating surplus/ldeficitl
14761
6851
1501
11091
1171
15431
1712
82
Page122

Note5to the F
nts
FofTheYe8r
2024
ii.
Tan8ible Flxed Assets
5￿T01a1
Land &
BulldknÉ5
Nxturts
FlttlnEs &
Equlpment
E'l￿0
Freehold
Land &
BuildlnLs
£'DDO
Lon8 Lea5elwJld
Land
£'(M)O
Leasehold
Bulldl
£'ooo
Work kn
PYo8re
Vehl¢lES
rooo
Total
Co
At Istjuly 2023
Addibons
Di5W5a15
16.297
306
69
1.831
19
315
18,Z16
623
1641
953
253
66
19.235
876
1641
At 30th June 2024
16,539
69
1,833
334
18,775
1,206
66
20,047
Dewtdaiton
Af istjuly 2023
aigeforthe year
On dlsposal
1.737
234
22
2,443
261
7Q8
92
50
3,201
357
26
At 301h lune 2024
1,952
23
710
2,685
3,539
Nei Book Amount
At 30th June 2023
£14,560
£47
£1.147
£19
£15,773
E245
£16
£16.034
At 30th June 2024
£14,587
£46
£1,123
£334
£16.09)
E406
£11
£16.508
N￿e lal A loan from Orchardbrook Llmited of £34,32812023.. £34,754) Is secured on the long leasehold property.
Included within Freehold Land & 8ulldlnE5 15 land of £3,020.(IJO12023: £3,020,￿} whlch Is not depreciated.
Page123

Abbe
ield We
Valle
Socie
Llmlted
Notes to the Financial Statements
For The Year Ended 30th June 2024
2024
£'ooo
2023
£'ooo
12.
Investments
Balance brought forward
Additions
Accumulated income
Disposals
Unrealised gains/{losses)
Movement in cash
3,751
557
71
(1,667)
230
{113)
1,953
1,788
61
{158)
{7}
114
£2,829
£3,751
Within the above are:
Investments at fair value through net income
Cash held by investment managers
2,823
3,632
119
£2,829
£3,751
The Society disposed of investments with a carrying value of £1,667k for proceeds of £1,612k, realising
losses of £(55k}12023: carrying value of £158k sold for proceeds of £162k realising gains of £4k).
13.
Stocks
Household supplies
£8
£12
14.
Trade and Other Debtors
Residents, fees
Less provision for doubtful debts
144
242
144
242
12
175
Other debtors
Prepayments and accrued income
263
£408
£429
15.
Cash and Cash Equlvalents
Bank accounts
Fixed term deposits
Cash in hand
763
4,250
3,999
£5,017
£4,001
Page | 24

Abbe
ield We
Valle
Societ Limited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
16.
Creditors: Amounts falling due withln one year
2024
£'ooo
2023
£'ooo
Amount due on Orchardbrook Limited Loan (Note 171
Trade creditors
Social Security and PAYE
Other creditors
Accruals and deferred income
194
154
95
396
213
154
102
404
£839
£873
17.
Creditors: amounts falling due after one year
Recycled Capital Grant Fund
Loan from Orchardbrook Limited
Note 19
Note la}
325
34
325
34
£359
£359
Note (a) A 60 year loan taken out in 1986 to help fund the development of Wey Valley House.
Interest is fixed at 9,5°A and is secured by a legal charge over Wey Valley House.
18.
Social Housing Grant
2024
£'ooo
2023
£'ooo
Aggregate amount recelved
At Istjuly 2023
Grant recycled to RCGF
3,428
3,753
13251
At 30th June 2024
£3,428
£3,428
Released to SOFA
At 1st July 2023
Grant recycled to RCGF
3,428
3,753
13251
At 30th June 2024
£3,428
£3,428
Net Book Amount
At 30th June 2023
At 30th June 2024
In addition to the above grants received by the Society, a total of £1,490,603 social housing grants
have been assumed by the Society on transfer of properties from other Abbeyfield societies.
Page | 25

Abbe
leld We
Valle
Societ Limited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
19.
Recycled Capital Grant Fund
2024
£'ooo
2023
£'ooo
Balance brought forward
Grants recycled
Interest accrued
325
325
Balance carried forward
£325
£325
The entire balance of the RCGF relates to Homes England.
20.
Reserves:
Movement During The Year
Opening
Balance
0110712023
£'ooo
Total
Comprehensive
Income
£'ooo
Transfers
To/(from)
Reserves
£'ooo
Closing
Balance
3010612024
£'ooo
Unrestricted Reserves
Designated Reserves
Revenue Reserve
Prudential ReseNe
8,540
9,557
850
8,540
10,304
1,000
797
{501
150
Total Unrestricted Funds
18,947
797
100
19,844
Restricted Funds (Note 21)
4,048
12201
1100)
3,728
£22,995
£577
£23,572
The Designated Reserve represents those reserves allocated by the Society to ensure its existing
operations remain fit for purpose, and to develop new services.
The Prudential Reserve represents the funds necessary to cope with a downturn in the economic
environment in which the Society operates, or in a worst-case scenario to allow an orderly
liquidation of the Charity.
Page | 26

Abbevfield Wev Vallev Societv Limited
Notes to the Financial Statements
For The Year Ended 30th June 2024
21.
Restricted Funds
Opening
Balance
0110712023
£'ooo
Closing
Balance
3010612024
£'ooo
Income
£'ooo
Expenditure
£'ooo
Transfers
£'ooo
Hatch Mill Garden Fund
Roundhay
Guildford House Fund
Disabled Vehicle Fund
Maitland House Lift Fund
Maitland House Resident
Financial Support
David Gresham House
Premises Fund
Gresham Fund
Fixed Assets Fund
Wey Valley House Staff
17
io
61
117}
io
61
24
47
(24)
{6}
41
1,000
(162}
{21)
817
273
2,537
78
{55)
218
2,502
78
135}
£4,048
£(220}
£iiooi
£3,728
Restrirted Funds
The Roundhay fund was established to support residents who might require additional financial
support, and the Guildford House fund was to make life easier for residents who are hard of hearing
and fortheir general comfort in the Guildford Home.
The David Gresham House Premises Fund and Gresham Fund were established as part of the Transfer
of Engagements with Abbeyfield North Downs Society. The Premises Fund is to be applied on capital
or revenue expenditure while the Gresham Fund is to be applied in supporting residents with
payment of their fees.
The Fixed Assets Fund represents that element of the fixed assets of the Society which has been
funded by social housing grants received from the government.
The Wey Valley House Staff fund represents a donation received for the benefit of Wey Valley House
staff.
Page | 27

Abbe
ield We
Valle
Societ Limited
Notes to the Financlal Statements
ForThe Year Ended 30th June 2024
22.
Contingent Liabilities
As part of the transfer of assets by Abbeyfield Reading Society on I, February 2022, Abbeyfield Wey
Valley Society, {"AWVS"), agreed that should it decide to sell the property that had been transferred
across, before I, February 2025, or close down the home or effectively cease to operate it as a care
home, then it would have to pay a Compensation Payment to Eventide & Watts (that had written off
a loan to Abbeyfield Reading Society of £393,006 at the time of the transfer).
The Compensation Payment would be calculated as follows. 50% of the gross proceeds of the sale of
the property less:
All legal & agencyfees incurred by AWVS plus any costs incurred by AWVS in closing the home
down,
The costs of any investments made by AWVS to improve the property, plus the aggregate of
the operational losses {if any) incurred in running the home from the I" February 2022 until
the date when either the home is closed or sold as a going concern.
th
As part of the transfer of assets by Dorking Residential Care Homes on 30 August 2022, Abbeyfield
Wey Valley Society, I'AWVS'I, agreed that should it decide to sell the property that had been
th
transferred across, before 30 August 2027, or close down the home or effectively cease to operate
it as a care home, then it would have to pay a Compensation Payment calculated as below.
Net sales proceeds of any sale following the sale les5 deduction of:
Reasonable & proper costs of sale,
Reasonable and proper closing down costs,
Any proper costs of investments made by AWVS for improvements to the premises &
grounds,
Any properly incurred operational losses in respect the provision of care home services at
the premises,
Any other proper costs incurred by AWVS in respect of the building & grounds which are not
included within point iii above.
The net sales proceeds from the above should be divided equally between the Society and such
charitable organisation or organisations in the Dorking area to be nominated by Central Surrey
Voluntary Action, The Point, Lions Court, RH4 IAB or any successor body or, in the absence of either,
Community Foundation for Surrey, charity number 1111600, Company number 5442921.
th
As part of the transfer of assets by Abbeyfield North Downs Society Limited on 28 April 2023,
Abbeyfield Wey Valley Society, {"AWVS"I, agreed that should it decide to transfer the premises or
any interest in the premises before 28 April 2028 withoutthe priorwritten consent of the Abbeyfield
Society and consent may not be withheld in the case of a sale of the freehold on AWVS ceasing to
provide services at the premises if the Abbeyfield Society is satisfied that arrangements have been
made such that:
The net sale proceeds of any sale that occurs within 5 years of 28 April 2023, as calculated after the
deduction of:
Costs of sale,
Closing down costs
Any investments made by AWVS for improvements to the building & grounds not paid for
out of the Premises Fund, {see Note 21),
Any operational losses not paid for out of the Premises Fund,
The cost of the repayment of the Social Housing Grants, if required
Any other costs incurred by AWVS related to the Premises not paid for out of the Premises
Fund
Will be transferred to the Abbeyfield Society.
th
iv.
Page | 28

Abbevfield Wev Vallev Societv Limlted
Notes to the Financial Statements
For The Year Ended 30th June 2024
23.
Capital Commltments
At 30th June 2024 and 30th June 2023 the Society had no capital commitments.
The Board has approved the budget for the year ended 30th June 2024 which includes capital costs of
£655,00012023: £502,000).
24.
Employees
2024
2023
£'ooo
5,129
448
216
Salaries and wages
Employers, Social Security costs
Pensions
Termination payments
6,674
557
306
65
£7,602
£5,795
The average number of employees in the period was 333 {2023: 2671, which equated to approximately
250 full time equivalent heads {2023: 2001.
Page | 29

Abbe
ield We
Valle
Societ Llmited
Notes to the Financial Statements
ForThe Year Ended 30th June 2024
25.
Payments to Members, Trustees and Officers
No fees or remuneration were paid during this year or last to any of the Members or Trustees.
Expenses reimbursed to Trustees in the current financial year amounted to £583 for travel and
subsistence expenses (2023.. £866 for reimbursement of meals & horticultural expenses).
The aggregate amount of emoluments, including pension contributions, payable to the Key
Management Personnel in the year were £509,846 {2023: £439,049).
The full-time equivalent number of staff whose remuneration payable was more than £60,000 is:
2023
2024
£120,000 - £130,000
£ioo,000- £iio,000
£90,000- £100,000
£80,000 - £90,000
£70,000 - £80,000
£60,000- £70,000
Included within the above were payments to the CEO, being the highest paid employee amounting
to £120,558 for the year excluding pension contributions (2023: £112,956).
The CEO is a member of the Society's employee defined contribution scheme. The Society contributes
to the CEO'S pension at 7% of salary with the CEO contributing IO% of her salary. No Special or
enhanced terms apply.
26.
Controlllng Party
The Board of Trustees are the ultimate controlling party of the Society.
27.
Unlts in Management
2024
162
27
22
2023
162
27
22
Residential
Nursing
Sheltered
211
211
There were no acquisitions or disposals of properties during the year, however one property
comprising 7 sheltered units was closed with the property to be sold.
Page130

Abbe
leld We
Valle
Socie
Limited
Notes to the Flnanclal Statements
For The Year Ended 30th June 2024
28.
Net Assets by fund
Unre5trirted
£'ooo
Restrlcted
£'ooo
2024 Total
£'ooo
Fixed Assets
Current Assets
Current Liabi lities
Long Term Liabil ities
16,835
4,207
18391
(3591
2,502
1,226
19,337
5,433
18391
(3591
Total
£19,844
£3,728
£23,572
Unrestrirted
£'ooo
Restrlcted
£'ooo
2023 Total
£'ooo
Fixed Assets
Current Assets
Current Liabilities
Long Term Liabil ities
17,248
2,931
(873}
(359)
2,537
1,511
19,785
4,442
18731
(3591
Total
£18,947
£4,048
£22,995
Page | 31

Abbe
leld We
Valle
Socie
Limited
Notes to the Flnancial Statements
For The Year Ended 30th June 2024
29.
Reserves:
Prior Year Movement
Openlng
Balance
0110712022
£'ooo
Total
Transfers
Comprehensive To/(from)
Income
Reserves
£'ooo
£'ooo
Closing
Balance
3010612023
£'ooo
Unrestricted Funds
Designated Reserves
Revenue Reserve
Prudential Reserve
8,540
1,554
850
8,540
9,557
850
8,003
Total Unrestricted Funds
10,944
8,003
18,947
Restricted Funds
2,933
1,115
4,048
£13,877
£9,118
£22,995
Opening
Balance
0110712022
£'ooo
Closing
Balance
Expenditure 3010612023
£'ooo
£'ooo
Restricted Funds
Income
£'ooo
Hatch Mill Garden Fund
Roundhay
Guildford House Fund
Disabled Vehicle Fund
Maitland House Lift Fund
Maitland House Resident Financial
Support Fund
David Gresham House Premises
Fund
Gresham Fund
Fixed Assets Fund
Wey Valley House Staff
17
10
61
io
61
24
49
24
47
121
1,000
1,000
273
273
2,537
78
2,780
12431
78
£2,933
£1,360
£{2451
£4,048
Page | 32

Abbe
ield We
Valle
Societ Llmlted
Notes to the Financlal Statements
For The Year Ended 30th June 2024
30.
Glft on Charity Combination- Prior Year
During the previous year, the Society completed two charity combinations, On I September 2022,
Transfer of Engagements was completed with Dorking Residential Care Homes Limited (Registered
Society number: 13238RI and on l May 2023, 3 Transfer of Engagements was completed with
Abbeyfield North Downs Society. The fair value of the net assets acquired on the transfers is set out
below:
DRCH
£'ooo
3,900
ANDS
£'ooo
3,500
55
Housing Properties - Freehold Land and Buildings
Fixtures, Fitti ngs & Equ ipment
Vehicles
Investments
Stock
Debtors
Cash at Bank and in Hand
Creditors
156
1,737
39
374
(1141
24
13371
£3,752
£5,597
Represented by:
U nrestricted funds
Restricted Funds
3,752
4,324
1,273
£3,752
£5,597
31.
Related Party Transactions
There were no related party transactions during the year, other than those disclosed in note 25.
Page | 33