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HE ABB DWE ANC rEMENTS FOR THE EN MBER 2 Report of the Executlve Committee Lond2 Statement of Executlve Commlttee'8 ResponBlbAlltle8 Independent ExAmlnerS Report Income and Expendlture Account Statement of Finan¢lAI Aetlvlue8 Balonee Sheet Note8 to the FLnanciaL Statement• 8-13 Detaued Hoatel Property Revenue Account 14
E EXECUTIVE COMM The Exeeutive Commfttee submit their report And the fmancial statements for the year ended 30 September 2024. The Society 18 registered under the Companies Act 2006 ènd the Jiability of members As Ilmited by guarnjtee. The Executive Committee serving durin8 the year or at the date of approv8J of the ftswicial statenntS are.. Dlrector8 Mr J Howe Mr S Howe Mr8 1 MacDonsld J Slllith Method of appointment Comnllttee members are gppointed by election at the amku81 gener81 meetin& One third of member8 are requlred to retire each year, but niay 8tand for reeCtiOn. Executive Cotrunittee rnay also co.opt &dditional commlttee member8 between annual general meetings. Abbeyfield Hou¥e 6 The Avenue TotlaAd Bay Isle of Wight P039 ODH The Regi8tered Office and Principal Office of the Society 1$.. Otlker relevant organi8atsons are a$ fDllow8: Independent Exthiner8 A H Cr05s & Co Limited Chartered Certffied Account•nt¥ 16 Quay Street Newport 181e of wht P030 5BG National Westminster Bank plc 107 St Jome8' Square Newport Isle of Wight P030 IUR Sollcitor8 Avet)ue Hou8e Avenue Road Fre8hwater Isle of Wlght P040 9UU
EYFIE LIMIT THE OM Icontinuedl ci Act£vi The prlndpal activity of the Sodety continue8 to be the provlslon of accommodatlon. care and eompBnion8hlp for lonely or frall elderly people in accordance wlth the alm8 and prlnelples ofThe Abbeyfield Society tllmited. ThIB activity falls wholty within hostel hou8lnB actiVitle8 a8 defjned In the Hou8lng Act 1996. The Society was registered under the Co-operative Community Beneflt Sodetles Act 2014. In 2019 thc Soclety re-reglatered a8 a Ilmlted eompAny under the prnvi81oD8 of the Companies Aet 2006. and 18 re&iBtered wlth the Chortty Commlaalon a8 a tharlty. A deficit ol £IBI4 for the year ari8e•. The detsiled hoatel property revenue account 18 preeented on page 14. DEta118 ofco8t and depreeiadon or red asuet8 are 8et out In notco 8 arkd 10. The Commlttee i8 ol the opinlon that there t8 no 818nlflcant difference between the bk coat and the market vojue for the exiBtkn¥ u8e of the iAnd and bulldlng8. From tlme to tlme the Sodety review8 the 8klll• and abflltle8 of the Truateeu to en8ure that there 18 eQuate breadth of experlence. Should thts be lacklng or if add1t10tl Trustee• 4r¢ requtred due to rettrement. pro8pectlve Trn8tee• are Invlted from the Memberahlp to apply. AJI Trustee8 Are provlded w5th the Abbefftld Executlve Gulde ond Memorandum and Artlcl¢A or A••ociation. should additlonal 8kill8 be requlred extern81 tralnlng would be aought. Day to day rurmln8 of the Soeietyi offatr8 are eondueted by the H0ukeeper. who reports to the Committee. The Thatees meet forniAJly on a quarterly bA818 and at 8dditlonal time8 A8 required on Infonnal bA8ia to deal wtth 188ue8 requlrhn8 thelr input. The Commltt¢¢ confirni th&¢ tn41or rl8k8 klentffted have been a88e•8ed 8nd iteMS Implemented ¢0 Enanage those rl8k8. The Trustees main concem8 are to provide a good quauty envlronment for resident# to Ilve and ernployees to work, wh118t b#JAncing the flnancial con8troJnts vAthin budg¢t #nd to eornply wlth Increa8in81¢8i8lation covering gjl aBpect8 of the 8ocietyS operatlons. The Commlttee airn8 to have reJerve& of an amount equivalent to one yÉ&V8 re8idential ehargea, to cover contingencies Includin8 the eo8t ofrepairs and irnprovetnent8 to the property. On behalf of the Exeeutlve Commlttee Director Date..... 7/.<11
HT socIKrY LIMITE STATEMEwf OF E COMMFfTEE MEMBERS, RESPONSIBILITI Company law require8 the Executive Conmiittee member8 to prepare accounts for each fllwicxaj yw which give a true and fair view of the state of affairs of the Society a8 at the end of that year nd of the Burplus or deficit of the Soeiety for that yeBr. In preparing those accounts the Executive Committee member$ 8re required to.. Belect Jultable aecounting policie8, and then apply them con8i8tently' make judgement8 and e8timates that are reasonable and prudent. State whether applicable accounting ¥tandard8 have been follow¢d. state whether appllcabie 8tatsments of recommended practice have been prepqre the accounts on the going eoncern basis unless it is inapproprlate to pre$ume that the Society conttnue in business. The Executive Committee are responsible for keepin8 pn)per aecounting rttords which di8cio$e with reOnable accuracy At 8ny time the fuJan¢ial position of the &)ciety and which enable them to enwre that the account8 comply wlth the relevwt legislation. They are 8180 responsible for $8feguarding the assets of the Society and hence for t&king reasonable 8tep8 for the prevention &nd detectlon of fraud and other irregularities.
TEES ABBEYF]ELD WEgf WIGHr socIrrY UMITED I report on the accounts of The Abbeyfield West Wight Sooety Limit1 for the year ended 30 September 2024. which ¢ompri8e the Statement of Financial Activtties, the Balance Sheet and the Tdated notes. ective Res onsibiJitieB of Trustees and Iner The Charitys Trustees (who are also the directors of the company for the purp08e8 of company lawl are responsible for the preparation of the aceouttts. The Trustees conslder that the audlt requirement of Seetlon J44121 of the Ckwities Act 2011 1.the Act'l does not apply. It 18 my responslblllty to state, on the basls of procedures specified in the General Directions given by the Charity Commissioners under section 145151(bl of the Act, whether particular matter8 have come to my attention. of Ind endent Exarniner's R My ex8mination wa8 carried out in accordance with the OeneraE Directions givcn by the Chatity Commissioner8. An ex8min&tion indudcs a rcvicw of thc accounting records kept by the Trustce8 and a comp8rison ofthe accounts presented with those records. It also includes consideration of any unusual item8 or di$do$ures in the accounts, and seeking explanations from you as Trustees eoncernlng any 8uch matter8. The procedures undertaken do not provide Ail the evidence that would be required in audit, and conscquently no opit)lon 1$ glvett as to whether the oeeounts present a *rue 8nd fair Vie and the report 18 Iln)Ited to th08e matters set out In the statement below. dent Exa2niner'8 Statement In connection with nLy examination, no materigj matterts have come to my attentlon whieh give8 e cause to believe that in. any Matla] respect: accowAting record8 We not kept in accordance with section 386 of the Companies Act 2006. or the accounts do not accord with 8uch records. or the accounts do not comply with relevant accounting requirement8 under sertion 396 of the Companies Act 2006 other than requircment that the a(Eount8 give a true and view which is not a rnatter considcred as part of independent ex8rnination" or the accounts have not been prepared in accordance with the Charities SORP IFRS1021. I have come &ero8s no otber matters Jn )nneCtIOn with the examination to which attentlon should be drawn in thi8 report IA order to enable a proper understanding of the accounts to be reached. I S HendeThn Chartered Accountant A H Cross & Co Limited 16 Quay Street Neviport Isle of Wlght P030 SBG
BEYPIELD ME AND EXPEN YEAR ENDED TURNOVER 156.412 127.705 Operatlng co•t8 OPERATtNG DEFicrr P.5241 117.2201 Intere•t recdvable and similar iticome DEFICIT ON ORDINARY AcnvmES 11.3141 116.2161 REVENUE RESERVE BRouoFrr FORWARD REVENUE RESERVE CARRIED FORWARD The S¢i¢tyi onty aetlvlty l• the provl•lon of htel aLroMtIOn. No operatlon• been dI8ntInUed or wiired durlng the yw. •nd the above Amount• relate entlrEly to eontlnulng opern¢. All a¢tfvitles relat¢ to Unre Income fill8. The Society no reeo8ni8ed gain8 and 1088e• other than tho4e induded iti the 8urplu81 deficit above. •nd therefore no W>arA •t&tement of total recogni•ed 8ain• lo•¢• Iw been presented. The Cornrnlttee approved the tlngnd•J •tateJDent8 on ...
THE ABBEyFLD W srATEMZ FOR THE YEAR ENDED 30 S PTEMBER INCOMING RESOURCES Incoming re8ource8 from operatlng activlties In further8nce of the CharLty8 objects 156.412 127,705 Investment Incorne Total incoming re8¢)urce$ 157 622 RESOURCES EXPENDED Charitable expenditure in [therMee of the Charity8 object8 153.122 139.956 Charity Total re8ources expended 116.2161 Total ndS brought forward 191 345 Total funds caTrled forward
123 CE SHEET AT 30 SEPTEMBER 2024 2023 TANGIBLE FD ASS Housin tand and Buildin Housing Association 8cbemes'. Gro88 C08t Housing Corporation grant Abbeyfield Soaety grartt Depreciation 372.341 1121,1551 iioo.oooi 27 56 372,341 1121,1551 iioo.0001 Net book value 123.230 124,194 41 11yfAL FIXED ASS 12 CURR ASSM Cash at bomk aJ)d hand Debtor¥ prepwnents 129.811 133.828 131.657 133.828 io 129 $72 Represented by: li 173.81S l75.129 The Company is limited by guarantee and has no shareholders. fimd The Directorn are 8atisfied that the company is entitled to ¢Yemption from the requirement to obtsin an audit under section 477 of the CompIC¥ Act 21x16 and that members have not required the company to obtain an audit in aecord8mce with section 476 of the Act. The Directors Adwowledge their re¥Frf)n¥ibilities for cornptyts with the requirements of the Compgnics Act 2006 with resFeCt to accounting records kDd thc prepar8tson of aecounts. The accounts have i*en prepored in accordance the provisi0rt8 in Part 15 of the Companie# Act 2006 applicable to CompleS 8ubiect to the Small compleS regime. 7]s/.Is-
E ABBR FIRLD W WIQHT 30SE STATUS OP SOCI¢ The Society wapj re•registetEd under the Comp&nle8 Aet on 7 November 2019, previously belng regletered under the Co-operative ond Communlty Benellt Societies Aet 20L4. The Society 18 a ReO8tered Hou8lng A880clatioD under the Hou81ng A88oclatlon8 Act 1996. The Scdety l• wholly engaged In hostel activlti¢s aa denned In the Hou8ing Act 1996. ACCOUNTINO POUCIES Theue Ilnanclaj Statement? arc prepared under the hlBtorical cost nventiOn, in accordance wlth appiacable accounting •tandArd8 In the United Kingdom and In £ordance th the Statement of Recommended Practjce (the SORPI 188ued by the Natiort FederAtlon of Hou8lng A880cAation8, the Wel8h Federatlon of Hou8lrtg Assoclatlon¥ and the Scottl$h Federatlon of Housing A¥soci&tionJ, and wlth the Hou8ing Act l 996 and the Accounting ReqUireMt$ for Registered Soelal L4ndlord4 General DeterntIon 1997 to 2000. Tumover eomprlBes rentsl and aervlce income rec£lvable. Hou81n8 land and buildin88 are $tated at cMt. The colt of propertle8 18 thelr purchA8e price together with inc5dents] co8t8 of acquiaition includAng Interttt pay*ble. Interest pqyable ' capitaii8ed by fypplylng the Soclety'8 coat of bornwing to expendlture durln8 the con8tructlon of the property up to the date of practieal completlon. Hou81ng properties in the eour8e of con8trpaetion Are 8t&ted at ets8t and are tranjferred into hou81ng propertles wh¢n MpICtrd, Hou8lng l¥md And buildin8a SHG 1ted •eheme8 lil Depreclation. a• defined 5n1111 below, 18 provlded on the colt o(freehold building81 lill Depreciation lo not charged on that portlon of the coat whlch ha8 quBllfled. or whleh ll quajlfy for SHO; liiil For that portion of the eoat financtsl by borrtiwings or from the Soclety8 own or other eharitable resources. a char8e is made to the hostel property revenue account for depreciation on building8 at 1% per 8nnum on 8uch cost.
EABB J> TO THE CEAL YEAR ENDED 30 BER 202410)nt1mdJ AccoufrnG POLICIES lumtinuedl Deprcdation 18 charged on the reducing brtee bui8 at 20% PEr annum on net book value. except for computern. on whfith depreciadgn il cbarged at 33% per annum on a Jtralsht line ba¥i•. A full depreciAtlon ch•4¢ l• nwde oo rued a•xt$ in the Jw that the auet i• broWt Anto u•e and no charge i• rrtade lrt the year of di•po•al. Where development8 have been tlnAncd who]ly. or p8rtty. by SocÉal Houalng Grant ISHQI, the net boolE value of thoae developments has been reduced by the Amount of the grant receivY4ble which ia •hown 8eparnt¢ly in the b•Jantt aheet. Provl•ion 1$ made for repayment of SHG where the property IB exF¢¢ted to b¢ 8old in the foreseeable future. SHG in respect of houjing propertie• in the cY)ur¢e of con•truction rteelved In vInCe of tYpendSture 18 Shown a8 a eutrent Ilabllity. A88et8 donated to the Sodety 4r¢ not lftdlld In the bajance ¥h¢et: other a8oet8 included at co8t. Expenses are &Uoeated to man•gement. rerI and •ervi¢% ryMt• on the ba•t• of the proportlon ofthne cr other rele¥•nt f•etor• attrlbutAble to theK actitle8. The So(2ety is uempt from producin8 a ea4h tlow $tstement under FR8 I by vlrtue of It• qu•Jlfying u a Jmall company. Monetary donadom to the •odety *re credAted to the Income •nd expEnditure acLX¥UAt on a recexpt8 ba81¥. The Society has charitable •tatu8 and l• exmm frDm Corporation Thx on the income It h reeelved. The Society 18 not regi8tered for VAT. Aco)rdin8ly no VAT l• char8ed to re81dents. and expenditure in the income and expenditure IOunt include• the relevant VAT. The Society opernt¢• • deflzjed o7ntributlort pen•ioD Kheme under its automatic enrolment Oblitiomi.
THE ABBEYFI THE FINANCI TATE YEAR ENDKD 30 S PTEMBER 202 Icontlnuedl TURNOVER 1iwnover comprixB: mlmum reJldentlal eh8rge8 receivable LoB8ea by vaeandes 189,180 166,800 156.014 115.574 Other Income OPERATINO cosrs Operatln8 Coats Inelude.. Independent exarnlneV8 remuneratlon Ilncludes bookkeeping and payroll workl INfEREST RECEIVABLE AND SIMIU4R INCOME Bank and Jhort-terni dePlt Intere•t (8ro881 KMPLOY8ES Employee eo8t#: Salarfe8 and w88e# Employer'8 national In8ur8rtce contrlbution• Employers peD8ion contsibution8 81,030 74,289 Avera8e Ill-tIrne equlvalent number of per8on8 employed during the year.. Hostel staff io-
FIN ctAL FOR ED BER 24 Icontinuojl PAYMEN13 TO MEMBERS, COMMrrrEE MEMBERS. OFFICERS. ETC Fe¢•. remunerntion or exFYn4e• payable to member8 Ot the Society who were neither member¥ of the Commlttee of MAr4ement, nor employtt8 of the ety Fe¢•. remunerntion or expen8e8 payable to memlxr8 of the Commlttee of mAneMent of the Society who were neither offieern nor employee• of the Scaety Fee•. remuneration or e%pui8e* paid to officer8 of the Society who were no¢ employee8 Payments or [ts made. or benefltB anted. to the per8on• referred to An lectlon 13 arld IS 0( the Houiin8 Associations Act 1996 HOUSINO IAND AT4D BUILDIN¢38 At l October 2023 And 30 September 2024 At l October 2¢f23 ChAr8e for the y 26.992 26.028 At 30 September 2024 Housif40 CORPORATION GiIAFrr 121,155 12J,LS5 At 30 September 2¢Y24
ABBEY TO THE THE YKAR ENDE SEpfEMBE FURNISHINGS AND EQUIPMEP At l October 223 Addition8 26,186 26.186 At 30 September 2024 Ats At l October 2023 Charg¢ for the year 20.771 20,149 At 30 September 2024 At 30 September 2024 10. CREDITORS Amounts falllng due wlthln one year. I I. RESERVES TotAI at l October 2023 Deficit for the year 175.129 84,052 Ttst at 30 September 2024 12-
EL WEST TH NANC EME FOR END R 202410)ntlnuedi 12. coKfINGEKf UABILMES There were no contingent Ilabilitle8 at 30 September 202412023 - Nill. 13. CAPAL COMMMAENTS There vrre no capital coznmitments at 30 September 202412023- NIII. 14. HOUSINQ STOCK Hou8(ng •tock o)mwi8eo: UnltB In 98eMent Unlta under development io io 13-
THE ABB soc LED PRopEi¥rY YEAR E ED R202 RESIDEKfL4L CHARGES RECEIVABLE 156.014 115,574 OTHER INCOME Gue8t room 8nd •widry Inixsme Donations recelved Bgnk and buildin8 8oclety intere8t 398 2,131 10,000 TOTAL INCOME EXPENDITURE- MANAGEMENT EXPENSES Affiilation fee xominer'a remutseratlon and payrnll co8t Prtnting. 8t&tlonery and postage Advert18ing Bank charge• 4,426 709 383 54 3,225 1,131 243 128 E>TrENDrruRE- SERVICE cosrs Staff wages and natlonal in8urAnee Fo¢)d 8nd household eo8t8 HeAt ond Jlght InBurance W&ter and dewerage Council Telephone 82,529 19,672 14.543 2,148 1.123 1,961 1,371 75.526 17,856 16.663 2,118 2,460 1.842 1.244 F 11 Wight Care eajl 8y8tem c08t8 Q8rden malntenan¢¢ Travel CleAning and reeu8e Depreciallon Miaeellaneou• 3,775 2,305 360 3,953 1,633 4.757 3.258 532 4,147 1,586 MAENANCE OF PREMISES AND EQUIPMENT DEFICIT ON ORDINARY AcfDnTIES 14