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2025-03-31-accounts

Charity registration number 1175260 (England and Wales)

ABBEYFIELD NORTHALLERTON CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

ABBEYFIELD NORTHALLERTON CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Turnbull
Mr I Smithson
Mrs P Fowler Watts MBE
Mrs C Walters
Mr I Parminter (Appointed 1 July 2025)
Mrs H Enevoldson (Appointed 17 December 2024)
Charity number 1175260
Company number CE0011663
Address Fir Lodge
82 South Parade
Northallerton
North Yorkshire
DL7 8SJ
Independent examiner Andrew Young FCA
Hentons
24 Finkle Street
Thirsk
North Yorkshire
YO7 1DA
Bankers Charities Aid Foundation Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4 JQ

ABBEYFIELD NORTHALLERTON CIO

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Statement of financial position 5
Notes to the financial statements 6 - 14

ABBEYFIELD NORTHALLERTON CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The Trustees have had regard to the guidance issued by the Charity Commission on public benefit. The principle 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.

Our aim is the provision of comfortable accommodation, care and support for our residents.

2025 has been a very successful year at Fir Lodge. This year all rooms at nearly full occupancy and the flat also is now taken. This has resulted in reasonable profit for the year after all the ongoing upgrades within the house. Our investments continue to provide a good return on the capital.

Two trustees we welcomed last year have now left us however we welcome Dr Hilary Enevoldsen to the board of Trustees.

As always, we continue to keep up with current legislation and implement them as best as we can.

No changes to staff this year, which has led to a positive and happy atmosphere in the house.

Achievements and performance

Financial review

The Society achieved an occupancy level of 97.03% (2024 - 77.60%).

The results for the period are set out in the Statement of Financial Activities on page 4 and the surplus on ordinary activities of £39,075 will be transferred from the accumulated reserves.

Cashflow will continue to be monitored carefully. Abbeyfield Northallerton CIO is governed by charity legislation under which a risk assessment has been made and the trustees have determined that liquid funds are required between six and nine months expenditure, bearing in mind the age of the property. Based upon expenditure for 2024/2025 the liquid reserves are between £126,188 and £189,282. At 31 March 2025 the liquid reserves were £205,701- £182,461)

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,

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.

ABBEYFIELD NORTHALLERTON CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The trustees who served during the year were as follows: Mr J Turnbull Mr I Smithson Mr I Parminter (Resigned 1 April 2024) Mrs P Fowler Watts MBE Mrs C Walters Mrs J Crampton (Resigned 17 March 2025) Ms D Dunn (Resigned 8 July 2025) Mr I Parminter (Appointed 1 July 2025) Mrs H Enevoldson (Appointed 17 December 2024)

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.

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 eleven employees appointed by the trustees.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees' report was approved by the Board of Trustees.

Mr J Turnbull Chairperson

28 October 2025

ABBEYFIELD NORTHALLERTON CIO

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ABBEYFIELD NORTHALLERTON CIO

I report to the trustees on my examination of the financial statements of Abbeyfield Northallerton CIO (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

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.

Andrew Young FCA

Hentons

24 Finkle Street Thirsk North Yorkshire YO7 1DA

Dated: 28 October 2025

ABBEYFIELD NORTHALLERTON CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 2 20 20
Residents charges 3 268,230 213,870
Investments 4 15,010 15,263
Total income 283,260 229,153
Expenditure on:
Direct charitable costs 5 252,376 246,500
Total expenditure 252,376 246,500
Net gains/(losses) on investments 10 8,191 5,758
Net income/(expenditure) and movement in funds 39,075 (11,589)
Reconciliation of funds:
Fund balances at 1 April 2024 562,021 573,610
Fund balances at 31 March 2025 601,096 562,021

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ABBEYFIELD NORTHALLERTON CIO

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

Notes
Fixed assets
Property, plant and equipment
12
Investments
13
Current assets
Trade and other receivables
15
Cash at bank and in hand
Current liabilities
16
Net current assets
Total assets less current liabilities
Income funds
Unrestricted funds		 2025
£
10,687
206,042
216,729
(3,904)		 £
153,637
234,634
388,271
212,825
601,096
601,096
601,096		 2024
£
9,497
182,461
191,958
(6,533)		 £
157,831
218,765
376,596
185,425
562,021
562,021
562,021

The financial statements were approved by the Trustees on 28 October 2025

Mr J Turnbull Chairperson

Mr I Smithson Treasurer

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Abbeyfield Northallerton CIO 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..

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. 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.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

1.5 Expenditure

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

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 4% reducing balance Plant and equipment 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

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

1.7 Investments

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

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 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.

1.10 Taxation

The charity is exempt from tax on its charitable activities.

1.11 Retirement benefits

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.

1.12 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.

1.13 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.

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Income from donations and legacies
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations 20 20
3 Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Activities
Resident charges 268,230 213,870
4 Investments
**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Dividends received 7,678 6,895
Bank interest 7,332 8,368
15,010 15,263

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Direct charitable costs

Staff costs
Depreciation
Food and provisions
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
Affiliation fees
Social fund
Newspapers and television licence
Legal and professional fees
Other charitable expenditure
Share of governance costs (see note 6)		 2025
£
138,615
10,330
22,569
4,935
2,970
9,610
33,412
2,422
2,160
4,140
1,495
931
3,553
4,431
664
1,665
2,419
3,405
249,726
2,650
252,376		 2024
£
127,451
10,371
20,313
4,836
2,843
16,086
33,394
2,678
2,184
4,449
1,143
4,082
3,265
3,244
715
1,793
3,115
2,081
244,043
2,457
246,500

6 Support costs

Support costs
Accountancy
Bank charges
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
-
2,590
-
60
-
2,650
-
2,650		 2025
£
2,590
60
2,650
2,650		 2024
£
2,396
61
2,457
2,457

Governance costs includes payments to the independent examiner of £2,396 (2024- £2,396) for the independent examination of the financial statements.

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,396 2,396
Depreciation of owned property, plant and equipment 10,329 10,371

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year the amount received by trustees for expenses was £nil (2024 - £nil)

9 Employees

The average monthly number of employees during the year was:

House staff
Management
Volunteers
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
10
1
8
19
2025
£
135,114
2,425
1,076
138,615		 2024
Number
10
1
8
19
2024
£
125,041
1,439
971
127,451

There were no employees whose annual remuneration was more than £60,000.

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments 8,191 5,758

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Property, plant and equipment

Property, plant and equipment
Freehold land
and buildings
Plant and
equipment
£
£
Cost
At 1 April 2024
360,746
165,476
Additions
-
6,134
At 31 March 2025
360,746
171,610
Depreciation and impairment
At 1 April 2024
231,061
137,329
Depreciation charged in the year
5,187
5,142
At 31 March 2025
236,248
142,471
Carrying amount
At 31 March 2025
124,498
29,139
At 31 March 2024
129,684
28,147		 Total
£
526,222
6,134
532,356
368,390
10,329
378,719
153,637
157,831

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Fixed asset investments

Cost or valuation
At 1 April 2024
Valuation changes
Dividends received
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
14
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
15
Trade and other receivables
Amounts falling due within one year:
Prepayments and accrued income
16
Current liabilities
Other payables
Accruals and deferred income		 M & G
Investments -
The Equities
Investment
Fund for
Charities and
COIF Charities
Investment
Fund
£
218,765
8,191
7,678
234,634
234,634
218,765
2025
2024
£
£
234,634
218,765
2025
2024
£
£
10,687
9,497
2025
2024
£
£
293
196
3,611
6,337
3,904
6,533

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 1,076 971

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Gains and At 31 March
2024 resources expended losses 2025
£ £ £ £ £
General funds 562,021 283,260 (252,376) 8,191 601,096
Previous year: At 1 April Incoming Resources Gains and At 31 March
2023 resources expended losses 2024
£ £ £ £ £
General funds 573,610 229,153 (246,500) 5,758 562,021

19 Analysis of net assets between funds

Unrestricted
funds
2025
£
At 31 March 2025:
Property, plant and equipment 153,637
Investments 234,634
Current assets/(liabilities) 212,825
601,096

ABBEYFIELD NORTHALLERTON CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19 Analysis of net assets between funds (Continued)
Unrestricted
funds
2024
£
At 31 March 2024:
Property, plant and equipment 157,831
Investments 218,765
Current assets/(liabilities) 185,425
562,021

20 Financial commitments, guarantees and contingent liabilities

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.

21 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).