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2021-03-31-accounts

Abbeyfield Northallerton CIO

Trustees' Report and Financial Statements For the year ended 31 March 2021

Charity Number: 1175260 Company Number: CE011663

Cummins Young 39 Westgate Thirsk North Yorkshire YO7 1QR

Abbeyfield Northallerton CIO

Contents

Contents
Page
Legal and Administrative Information 1
Trustees' Report 2-4
Independent examiners report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8-13

Abbeyfield Northallerton CIO

Legal and Administrative Information

Charity Number 1175260
Company Number CE011663
Address Fir Lodge
82 South Parade
Northallerton
North Yorkshire
DL7 8SJ
Trustees J Turnbull Chairperson
I Smithson Treasurer
Dr A Brereton Secretary and Vice Chairperson
Appointed November 2020
I Parminter
Mrs P Fowler Watts MBE
P Burke
Mrs C Walters
Mrs H Darwin Resigned November 2020
Independent Examiner Adil Khan ACA
Cummins Young
39 Westgate
Thirsk
North Yorkshire
YO7 1QR
Bankers Charities Aid Foundation Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 1

Abbeyfield Northallerton CIO

Report of the Trustees

for the year ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity is a Charitable Incorporated Organisation (Company number CE011663), having solely charitable objectives, and registered as a charity (number 1175260). Abbeyfield Northallerton CIO was registered with the Charity Commission on 20 October 2017.

The governing document is its constitution, agreed by the prospective trustees dated 18 October 2017. Memorandum and Articles of Association are dated 1 December 2009.

TRUSTEES

The trustees who served during the year were as follows:

J Turnbull Chairperson
I Smithson Treasurer
Dr A Brereton Secretary and Vice Chairperson Appointed November 2020
I Parminter
Mrs P Fowler Watts MBE
P Burke
Mrs C Walters
Mrs H Darwin Resigned November 2020

New trustees are given adequate training in respect of their legal obligations under charity law, in particular in relation to the Charity Commission Guidance on Public Benefit, the charity constitution and the trustees decision making processes.

ORGANISATION

A Committee of trustees, who meet quarterly, administers the Charity. There is also a finance sub committee who meet as and when required in addition to the trustees meetings. There are currently ten employees appointed by the trustees.

OBJECTIVES AND ACTIVITIES

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. The principal objects of the charity are to relieve persons of pensionable age who are in need by reason of their age, by the provision of communal living facilities in supported houses and by the provision of amenities and services to such persons and their families.

Page 2`

Report of the Trustees - continued

for the year ended 31 March 2021

Abbeyfield Northallerton CIO

REVIEW OF THE ACTIVITIES AND FUTURE DEVELOPMENT

I became chair at a meeting back in June 2020 with the view to try to resolve many issues which had arisen due to Covid 19 and a breakdown in the smooth running of the house due to serious staffing problems.

Harriet Restall resigned in July 2020.

With the help of all the trustees who formed various working groups to find solutions to above issues. Judith Warrior was appointed as General Manager of Abbeyfield Northallerton and joined us in October 2020. Also Claudia Clarkson is now Senior Housekeeper/Deputy Manager.

National Covid 19 restrictions were in place which meant severe curtailment on residents and staff movements/activities.

The flat became occupied in November 2020. Rooms 1 and 2 became vacant with Room 1 now occupied by Joyce Reeves (Derek Bloomfield’s sister). Room 2 was unoccupied as at March 2021.

Room 11 has been taken by Nancie Williamson in October 2020.

Helen Darwin resigned as a trustee for personal reasons which leaves a vacancy on the board which we hope to fill in the future.

Essential maintenance only was undertaken and we have a new Service Engineer looking after the boilers.

Due to 90% occupancy our financial reserves have increased helped by no major expenditure on the maintenance on the building. We are planning to upgrade residents bathrooms as and when we are able.

I have to say all the kitchen/cleaning and admin staff excelled in their efforts to maintain the standards we aspire to at Abbeyfield and keep the house running as smooth as possible which shows their tremendous commitment to Fir Lodge.

FINANCIAL RESULTS

The society achieved an occupancy level of 93.51% (2020 - 100%)

The results for the period are set out in the Statement of Financial Activities on page 6 and the surplus on ordinary activities of £56,362 will be transferred to accumulated reserves.

RESERVES POLICY AND RISK MANAGEMENT

Cash flow will continue to be monitored carefully. Abbeyfield Northallerton CIO is governed by charity legislation under which a risk assessment had been made and the trustees have determined that liquid funds are required between three and six months expenditure. Based upon expenditure for 2020/2021 the liquid reserves required are between £46,500 and £93,000. At 31 March 2021 the liquid reserves were £218,912 (2020 - £178,555).

The Trustees monitor the financial position of the Charity at each committee meeting and also examine other operational and business risks. The Trustees are satisfied that systems are in place to mitigate the exposure to the major risks.

Page 3

Abbeyfield Northallerton CIO

Report of the Trustees - continued

for the year ended 31 March 2021

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Charity law requires the Trustees to prepare financial statements for each financial year which gives a true and fair view of the state of affairs of the charity and of the incoming resources and applications of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Board

J Turnbull Chairperson Date 28 September 2021

Page 4

Abbeyfield Northallerton CIO

Independent Examiners Report to the Trustees of Abbeyfield Northallerton CIO

I report to the Trustees on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 6 to 13.

Responsibilities and basis of report

As the charity's trustees, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ("the Act").

I report in respect of my examination of the Charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiners statement

I am qualified to undertake the examination by being a member of the Institute of Chartered Accountants in England and Wales.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect

the financial statements did not accord with the accounting records: or

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached

Adil Khan ACA

Date: 28 September 2021

Independent Examiner

Cummins Young 39 Westgate Thirsk North Yorkshire YO7 1QR

Page 5

Abbeyfield Northallerton CIO

Statement of Financial Activities

(incorporating income and expenditure account)

for the year ended 31 March 2021

Notes
Incoming Resources
Donations
Sundry donations
Charitable activities
Residents charges
Job retention scheme grant
Sundry income
Investment Income
2
Total income
Resources expended
Charitable activities
Direct charitable costs
3
Governance costs
4
Total expenditure
Net Incoming resources for the year
Net Income for the year
6
Other recognised gains/losses
Increase/(decrease) in value of investments
Transfer to/(from) restricted reserve
Net movement in funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Funds
£
282
223,270
1,298
-
5,528
230,378
192,953
2,231
195,184
35,194
21,168
-
56,362
461,896
518,258		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2021
Total
£
282
223,270
1,298
-
5,528
230,378
192,953
-
2,231
195,184
35,194
21,168
-
56,362
461,896
518,258		 2020
Total
£
477
214,444
-
410
7,239
222,570
182,922
-
2,220
185,142
37,428
(25,111)
-
12,317
449,579
461,896

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities

The notes on pages 8 - 13 form an integral part of these financial statements Page 6

Abbeyfield Northallerton CIO

Balance Sheet

for the year ended 31 March 2021

Notes
Fixed Assets
Tangible Fixed Assets
9
Investments
10
Current Assets
Debtors
11
Cash at Bank and in hand
Creditors: amounts falling
due within one year
12
Net Current Assets
Net assets
Funds
Unrestricted Income Fund
14
Total Funds
14		 £
£
186,657
112,788
299,445
11,286
218,912
230,198
11,385
218,813
518,258
518,258
518,258
2021		 £
£
199,424
86,928
286,352
6,319
178,555
184,874
9,330
175,544
461,896
461,896
461,896
2020

The financial statements were approved by the Board of Trustees on 28 September 2021 and signed on its behalf by:

J Turnbull Chairperson

I Smithson Treasurer

The notes of pages 8 - 13 form an integral part of these financial statements

Page 7

Abbeyfield Northallerton CIO

Notes to the Financial Statements

for the year ended 31 March 2021

1. Accounting policies

Company information

The Society is a Charitable Incorporated Organisation (Company number CE011663), having solely charitable objectives, and registered as a charity (number 1175260). Abbeyfield Northallerton CIO was registered on 20 October 2017.The registered address is Fir Lodge, 82 South Parade, Northallerton, North Yorkshire, DL7 8SJ.

Basis of preparing financial statements

The financial statements of the charity, which is a public benefit entity under FRS102, 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 Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

As per paragraph 1.4 of the Housing SORP 2014, the Society has adopted the Charities SORP for its accounting periods from 20 October 2017.

Incoming Resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The society is not registered for VAT. Expenditure, where applicable, includes irrecoverable VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Housing properties 4% reducing balance Plant and machinery 15% reducing balance

Housing land and properties are stated at cost. The cost of the properties is their purchase price together with incidental costs of acquisition.

Investments

Investments are included in the balance sheet at their fair value.

Taxation

The charity is exempt from tax on its charitable activities.

Page 8

Abbeyfield Northallerton CIO

Notes to the Financial Statements - continued

for the year ended 31 March 2021

1. Accounting policies (continued)

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectivities at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Explanations regarding these funds are included in the notes to the financial statements

Pensions

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period in which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash flow statement

The company has taken advantage of the disclosure exemption not to prepare a cash flow statement in preparing these financial statements as permitted by Section 7 of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

2
Investment Income
Investment income
Bank interest
Dividends received		 Unrestricted
Restricted
2021
2020
funds
funds
Total
Total
£
£
£
£
836
-
836
1,358
4,692
-
4,692
5,881
5,528
-
5,528
7,239

Page 9

Abbeyfield Northallerton CIO

Notes to the Financial Statements - continued

for the year ended 31 March 2021

3
Charitable Activities Expenditure
Direct charitable costs
Food and provisions
Wages and salaries
Employers' NIC
Staff pension costs
Staff training
Recruitment expenses
General and water rates
Insurance
Light and heat
Repairs, renewals and maintenance
Gardening and window cleaning
Cleaning, kitchen consumables, laundry and ppe
Lifeline
Printing, postage, stationery and computer costs
Advertising
Telephone
Travelling expenses
Social fund
Newspapers and television licence
Legal and professional fees
Sundry expenses
Affiliation fees
Depreciation
Total Charitable activities expenditure
4
Governance costs
Accountancy
Bank charges
Total Governance costs
5
Net incoming/(outgoing) resources for the year
Net income/(outgoing) resources is stated after charging:
Depreciation		 Unrestricted
Restricted
funds
funds
£
£
19,061
-
104,284
-
241
-
785
-
240
-
326
-
3,594
-
2,061
-
13,557
-
13,953
-
1,854
-
2,808
-
1,991
-
2,178
-
1,723
-
2,159
-
-
-
50
-
1,109
-
3,378
-
385
-
4,035
-
13,181
-
192,953
-
Unrestricted
Restricted
funds
funds
£
£
2,160
-
71
-
2,231
-		 2021
Total
£

19,061

104,284

241

785

240

326

3,594

2,061

13,557

13,953

1,854

2,808

1,991

2,178

1,723

2,159

-

50

1,109

3,378

385

4,035

13,181

192,953
2021
Total
£

2,160

71

2,231
2021
£
13,181		 2020
Total
£
18,062
97,031
334
943
552
308
3,737
2,130
11,446
16,192
1,686
1,446
1,952
1,592
1,077
1,905
287
1,737
943
918
52
3,980
14,612
182,922
2020
Total
£
2,160
60
2,220
2020
£
14,612

Page 10

Abbeyfield Northallerton CIO

Notes to the Financial Statements - continued

for the year ended 31 March 2021

6 Employees

----- Start of picture text -----
|||| |---|---|---| |Employment Costs|2021|2020| |£|£| |Wages and salaries|104,284|97,031| |Pension Costs|785|943| |105,069|97,974| |Number of employees| |2021|2020| |Number|Number| |Hostel Staff|9|9| |Management|1|2| |Volunteers|8|9| |18|20|

----- End of picture text -----

There were no employees who received total emoluments of more than £60,000.

During the year the total amount received by trustees for expenses was £nil (2020 - £231)

7 Pension Costs

The Company operates a defined contribution pension scheme in respect of employees. Contributions made during the year was as follows:

----- Start of picture text -----
|||| |---|---|---| |2021|2020| |£|£| |Pension charge for the period|785|943|

----- End of picture text -----

8 Taxation

The Charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these financial statements.

9 Tangible Fixed Assets

----- Start of picture text -----
||||| |---|---|---|---| |Housing|Plant and| |Property|Machnery|Total| |£|£|£| |Cost| |Brought forward|360,746|160,916|521,662| |Additions|-|414|414| |At 31 March 2021|360,746|161,330|522,076| |Depreciation| |Brought forward|208,059|114,179|322,238| |Charge for the year|6,107|7,074|13,181| |At 31 March 2021|214,166|121,253|335,419| |Net Book Values| |At 31 March 2020|152,687|46,737|199,424| |At 31 March 2021|146,580|40,077|186,657|

----- End of picture text -----

Page 11

Abbeyfield Northallerton CIO

Notes to the Financial Statements - continued

for the year ended 31 March 2021

10
Investments
M&G Investments - The Equities Investment Fund for Charities
11
Debtors
Rent debtor
Other debtors
12
Creditors: amounts falling due
within one year
Trade creditors and accruals
Rent received in advance
13
Analysis of Net Assets between funds
Fund balances at 31 March 2021 as represented by:
Tangible fixed assets
Investments
Current assets
Current liabilities
14
Movement in funds
At
01-Apr
2020
Unrestricted Funds
Unrestricted Funds
461,896
Total unrestricted funds
461,896		 2021
2020
£
£
112,788
86,928
2021
2020
£
£
3,185
-
8,101
6,319
11,286
6,319
2019
2020
£
£
8,270
6,318
3,115
3,012
11,385
9,330
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
186,657
-
186,657
112,788
-
112,788
230,198
-
230,198
(11,385)
-
(11,385)
518,258
-
518,258
At
Incoming
Outgoing
31-Mar
resources
resources
Transfer
2021
251,546
195,184
518,258
-
251,546
195,184
-
518,258

Purposes of unrestricted funds

The unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Page 12

Abbeyfield Northallerton CIO

Notes to the Financial Statements - continued

for the year ended 31 March 2021

15 Contingent liabilities and Capital Commitments

The Abbeyfield Northallerton & District Society Limited received a capital grant from the Housing Corporation (subsequently transferred to Homes and Community Agency) amounting to £71,492 to assist in the financing of refurbishments. As part of the transfer of the funds to Abbeyfield Northallerton CIO this sum may be repayable together with interest at such rate as the Agency reasonably requires taking into account the provisions in the Capital Funding Guide. The sum is repayable upon a Relevant Event as defined in paragraph 7 of the Capital Funding Guide (version "Recovery of Capital Grant and Recycled Capital Grant Fund General Determination 2015"), or upon the disposal of the property howsoever effected, or the occurrence of a Change in Control in relation to Abbeyfield Northallerton CIO.

16 Related Parties

There were no transactions with related parties.

Page 13