2025-03-31-accounts

Livtrig Society Annual Report and Financial Statements For the Year ended 31 March 2025 www.abbeyfieldliving.org.uk Registered Charity: 200719 | Company No: 574816

ILeft blank intentionallyl The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

CONTENTS Annual Report About us Our Board. Committees and Execulive Team Our Patrons and Advisors Report of Our Chair CEO Statement Report of the Board (incorporating Strategic Report) Operating and Financial Review 16 Value for Money 20 Risks and Mitigations 22 Statement of Responsibilities of the Board 23 Govemance 24 Independent Auditorfs Report to the members of The Abbeyfield Society 27 Financial Statements Consolidated Statement of Comprehensive Income 30 Society statement of Comprehensive Income 31 Consolidated and Society statements of Financial Position 32 Consolidated and Society Statements of Changes in Reserves 33 Consolidated Statement of Cash Flow 34 Notes lo the Financial Statements 35 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

ABOUT US Abbeyfield Living Society Established in 1956, Abbeyfield Living Sociely (ALSI is a not-for-profil organisation providing housing, care and support to older people across England. Rooted in the values of care, compassion and community, we create welcoming environments that help people slay connected in later life. Our wide range of seNices - including sheltered housing, care homes and independent living options - allows us to deliver person-centred services tailored to our residents, individual needs. We are committed to helping our residents maintain a sense of Independen￿ and choice within safe, warm and stimulating communities where they can build relationships, stay active and live life to the fullest. As a not-for-profit, we reinvest all surpluses back into enhancing our services and the lives of our residents. The Abbeyfleld Famlly The Abbeyfield Family is a membership organisation that encompasses a network of independently governed member societies operating under the Abbeyfield brand, of which Abbeyfield Living Society is the largest. Each member society is managed by its own Board of Trustees and shares a common goal to support older people through housing, residential care and nursing services. Abbeyfield homes offer supportive environments for residents with a strong emphasis on community and independence. Following a restructure in recent years, Abbeyfield Living Society is now a fully independent member society although continues to provide some support to the wider Abbe￿ield Family Today, the Abbeffield network includes hundreds of homes across the United Kingdom, Australia, Belgium, Canada, Jersey, South Africa, Poland and New Zealand, delivering care, compassion and community to thousands of older people around the wodd. The Abbeffield Society World Council {TASWCI oversees the Family, with Abbeyfield England (AE) acting as an umbrella organisation for all English members including Abbeyfield Living Society. X••lll4plXy Stoilortd Ir•I￿d B*l#ium or Jth Alrrta New4 Zealand 275 Our Charitable Objects Our charitable objects are contained in our Memorandum and Articles of Association. These are.. The relief and care of elderly persons of all classes, beliefs and nationalities suffering from the disabililies of old age or othemise in need. The spreading of Christian principles lo all human relationships and the application of humanitarian aims to promote the relief of the elderly. The provision of further education in Ihe sphere of voluntary work, social work and similar artivities so as to inculcate Ihe principles of good citizenship. The provision and management of housing. accommodation or assistance, including providing and maintaining or assisling in, providing and maintaining houses and homes for the relief and care of elderly persons suffering from the disabilities of old age or otherwise being in need. Such other purposes recognised by English law as charitable as the Society shall determine from time to lime. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

ABOUT US (continued) Our Services Our seNice offerings include the provision of= Independent Living Sheltered Housing Residential Care Homes Dementia friendly Care Homes Extra Care seNices Nursing Home Depending on individual levels of independence and care requirements, our homes are designed lo meet a wide range of residents, needs. These range from homes ideal for active, self-reliant individuals to specialist settings that provide tailored support for residents living with dementia. We offer a variety of financial options in Housing, including low-cost rental. low-cost home ownership, market renl and leasehold. We strive lo ensure our homes are accessible and adaptable, taking into account both the current and future needs of the people we support. Our Vision, Mission & Values Following a period of transformation, we launched a refreshed vision, mission and set of values as part of our five- year corporate plan providing a clear, purposeful foundation for our future. Our vision reflects a broader, community-focused ambition, rooted in the charitable legacy of our founder, Richard Carr-Gomm'. Our Vlslon A wortd where everyone thrives in later life within a caring compassionate cornmunity. Our mission builds on our belief in the Importan￿ of home - creating safe, warm and welcoming spaces where connection and community can thrive: Our Mission To provide great homes and inclusive communities where you can enjoy outstanding levels ofservice and support in later life provided by committed people. To support this, we introduced a new set of Values - the principles that guide our actions, decision making and help shape our culture and behaviours. Our Values Care - we care for the people we support, for each other and for our communities. Compassion we treat everyone with kindness, empathy, and respect, honouring their dignity, independence, and individuality. Community- we foster a sense of belonging, inclusion, and mutual support, creating environments where older people feel safe, connected, and empowered. Integrity - we are honest, transparent, and accountable in all our actions, doing what's right. even when it's not the easy oplion. Excellence - we are committed to being a high performing organisation, delivering exceptional SeNi￿S that add value, exceed expectations, and make a real difference. Together, these define who we are and how we'll deliver meaningful, lasting impact. They underpin our strategic goals and ensure that people and communities remain at the heart of everything we do. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OUR BOARD, COMMITTEES AND EXECUTIVE TEAM Board of Trustees Mike Tumer George Ashworth Marc Marrero Roger Lees Sara Beamand David Carr Martin Cox Terri Pettifer-Eagles The following were also Board members during part of the year covered by this Annual Report.. Alison Beachim (until 12th March 2025) Committees of the Board Audit and Risk Committee Customer Committee David Carr (Chairl Sara Beamand (Chair) Marc Marrero Martin Cox Dena Patel (Resigned 20 August Terri Peltifer- Eagles 20251 Finance and Investment Committee Roger Lees (Chair) George Ashworth Martin Cox People Committee Terri Pettifer-Eagles {Chairl Mike Turner Sara Beamand Executive Team Paul Tennant OBE - Chief ExeGUtive Officer Gail Manley- Director of Corporate seNi￿s Jonathan Sweet Director of Strategic Delivery and Company Secretary (Resigned 30, May 2025) Julie Freear- Director of Customer Operations Tom Nisbet- Director of Finance and IT The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OUR PATRONS AND ADVISORS Royal Patron His Majesty the King, King Charles111 Patrons The Rt. Hon Baroness Bottomley of Neltlestone Michael Brooks Dame Judi Dench DBE Aled Jones Ron Kenyon OBE The Duchess of Northumberland John Robinson CBE Patricia Routledge OBE Martin Shreeve OBE MBA DSW Bsc {Econl Michael Staff MBE Dame Gillian Wagner DBE PhD Professor Alan Walker DLitt FRSA The Rt. Rev & Rt. Hon Baron Williams of Oystermouth The Carr-Gomm family (David Carr-Gomm, Adam ca￿-GoMm, Harriet Carr- Gomm, Elizabeth Parker and Anna Newton) Advisors External Auditors Azets Audit Services Fleet House New Road Lancaster, LA1 1 EZ Solicitors Anthony Collins LLP 134 Edmund Street Birmingham B3 2ES Internal Auditors Forvis Mazars 30 Old Bailey, London, EC4M 7AU Bankers Barclays Bank PIC 1 Churchill Place London E14 5HP Registers Registered Office Registered company limited by guarantee 17-19 Hampton Lane with the Registrar of Companies, No 574816 Solihull, B912QJ Telephone.. [phone] Fax: [phone] Email.. [e-mail] Legal Status Registered with the Regulator of Social Housing, No H1046 Registered with the Charity Commission, No. 200719 Registered with the Care Quality Commission. No.1-102642859 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF OUR CHAIR We have made significant strides in transforming Abbeyfield Living Society {ALSI to meet the challenges of a changing world and to lay the foundations for a brighter future. The past year has been pivotal for ALS. Following several particularly challenging years, we have emerged wilh renewed purpose, a focused agenda and a proaclive approach to meeting the evolving needs of our sector. JAk Like many care and housing providers, ALS continues to navigate a complex and unpredictable operating and regulatory environment. Rising costs across salaries and national insurance contributions, utilities and food supplies, combined with capped rent increases and local aulhority funding shortfalls, continue lo place considerable pressure on our finances. Workforce challenges remain a concern across the sector. Ongoing recruitment and retention difficulties have resulted in a higher reliance on costly agency staffing, while restrictive immigration policies have limited overseas recruitment options. And yet, despite these pressures, ALS has demonstrated resilience, adaptability and a commitment to progress. Our revised organisational structure has provided a solid foundation for evolution and future growth. We have successfully delivered the majority of our sustainabilily programme, and property sales and internal reslructures have significantly improved our financial position. We are proud that all ALS care homes are now rated Good or Outstanding by the Care Quality Commission ICQC) - a clear teslamenl to the professionalism, care and dedication of our teams. This recognition reflects our ontinued investment in systems, compliance and the people who make our services exceptional. In Autumn 2024, ALS was delighted to bè recognised by the Housing Ombudsman as one of only iwo organisations in England with no upheld complaints - an outstanding achievement that reinforces our ommitment to service, accountability and resident satisfaction. We are more customer-focused than ever, continually investing in and refining our services to better meet residents, needs. As part of our ongoing commitmenl to excellence, we have been working to meel the government's new regulatory consumer standards, ensuring all tenants have safe, well-maintained homes and onsistently high-quality servi￿. We also introduced our new'Resident Commitment, _ a charter developed in collaboration with our national Resident Panel, setting out the level of service our residents can expect. Listening to residents remains central lo our work, and through regular roadshows and satisfaction surveys, we are ensuring their voices directly inform our priorities and actions. We were also delighted to receive confirmation that His Majesty King Charles111 will remain as our Royal Patron,. a relationship that began in 1979 and continues to inspire pride throughout the Abbeyfield family. I spoke in last year's Annual Report of challenges and opportunity. Looking ahead, ALS is entering an exciting new chapter. With a refreshed vision, mission and values, and the launch of our new five-year corporate plan and growth strategy, we are fully focused on improving the qualily of our services, homes and resident experience. Our asset management strategy outlines a Glear and sustainable path for investment over the next rive years and beyond, placing the customer experience at the heart of everything we do. Next year marks our 70th anniversary - a significant milestone and a chance lo reflect on our history, celebrate our progress and look forward with confidence. Having delivered a major organisational turnaround over the past three years. addressing financial, strategic and operalional challenges, ALS is now well-positioned for sustainable growth and to deliver lasting positive impact. On behalf of the Board, I would like to extend my heartfelt thanks to our residents and their families, our staff, our partners and the communities we serve. Your trust, support and collaboration conlinue to inspire us and drive everything we do. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

CHIEF EXECUTIVE OFFICER REPORT As the Chair's report demonstrates, 2024125 was a pivotal delivery year for ALS. It was the culmination of three years of significant change in our structure. operations, fInan￿S and governance. We set oul clear goals around improving financial sustainability, progressing our stock sales programme, supporting and developing our people. strengthening our systems and technology and, above all, continually improving the experience of our residents. Residents Residents are at the heart of what we do. This year, I was pleased we were able to reinforce our commitment to them by introducing a dedicated Customer Relations team, focused on making it easier for residents to connect with us and enabling quicker, more effective reswnses lo enquiries and concerns. Our national Resident Panel continues to contribute to key decisions, including the selection of contradors for fire safety, repairs and mainlenance. We will further strenglhen resident involvement by introducing opportunities for residents to participate in the recruitment of frontline stsff - bringing their perspective into every stage of service delivery. The 2024 Resident Satisfaction Survey gave encouraging feedback and demonstrated the continued trust our residents pla￿ in us. We introduced a series of in-person Resident Roadshows lo create meaningful opportunities to hear directly from residents, promote engagement and co-develop improvement plans based on what matters most to them. Following a successfvl pilol, the Resident Roadshow will be rolled out across the country to capture views from all of our residents. l am excited that our presence within local communities is continuing to grow. This year's annual Abbeyfield Week celebrations welcomed the public into many of our homes lo connect and celebrate with residents and slaff. We also hosted a wide range of events, from Don t Eat Alone lunches and intergenerational playgroups to Dementia Awareness Days and regular community lunch clubs for people living with dementia and their carers. This is an area we are planning to develop further. Infrastructure We are always keen to make ALS a better pla￿ to work and launched the Employee Experien￿ Focus Group. This group has championed several initiatives promoting cultural awareness, enhancing wellbeing and creating easy ways for slaff to share ideas. I was pleased to see our Spend a Day in a Service inilialive was enabling support staff to volunteer in our homes, deepening their understanding of our impact and reinforcing the connection between their work and the lives of our residents. We have conlinued to make significant improvemenls in our digilisation, systems and processes. notably, rolling out a new digital care service planning system in our Care homes, introducing an upgraded warden call service and implementing a new electronic HR and payroll plafform. These advancemenls, along with a broader investment in rnodernising our workplace technology, position us well for the future. Investment Environmental sustainability I￿S remained a priority. With an upgraded Environmental Management System in place, we continue lo embed environmentally responsible practices across all areas of our work - from retrofitting properties and reducing emissions to responsible procurement and encouraging digital-first approaches. With 98 % of our homes now at EPC 'C' or above, and continued reductions in energy use, we are on track to meet government targets of all homes reaching EPC 'C' by 2030 and achieving Net Zero by 2050. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

CHIEF EXECUTIVE OFFICER REPORT (continued) Investment in existing homes remains a priority. We were pleased, working with Homes England, lo invesl £1.5 million of Recycled Capitsl Grant Funding to support key programmes including fire safety improvements, energy efficiency upgrades, digital telecare enhancements and modernisation of lift systems. These investments will help us protect and future-proof our homes for current and future residents. Championing the Voice of Older People It concerns me that the voice of older people is often not heard in governmental planning, policy and investment discussions. Following our recent sponsorship of the All-Party Parliamentary Group IAPPG) Inquiry into'The Regeneration of Outdated Sheltered Housing, ALS continues to champion the voice of older people at both national and local levels. As active members of the National Housing Federalion. National Care Forum and Care England, and through our involvement in the Older Person's Housing Group, we are making sure the perspectives and needs of our residents are represented in key sector discussions. As part of the NHF Starts at Home campaign we welcomed MPS into our homes to showcase the impact of our work and highlight both sector-wide and Abbeyfield-specific challenges. Commitment As a customer-facing organisation, I know our fronlline colleagues go above ar)d beyond every day to support residents, backed by our dedicated ￿ntral teams who ensure Ihe smooth operation of services behind the scenes. I would like to thank them for their dedication, commitment and demonstrable care and compassion to our residenls every day. As we look ahead, I believe our focus remains on delivering high-quality services to residents, communities and stakeholders that truly make a difference in people's lives. By continuing to invest in our homes and actively encouraging and responding lo customer feedback. we will ensure wami, welcoming places for everyone who lives and engages with us. 10 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF THE BOARD (INCORPORATING STRATEGIC REPORT) The Board presents its report, which incorporates the Strategic Report as set out in company law, including the audited financial ststements for the year ended 31 March 2025. Our aim is to strive to improve the quality of older peoples. lives by reducing the Inciden￿ of loneliness in later life. This means creating a caring and compassionale Abbeyfield community which provides warmth, support and wellbeing for all our residents. We believe Ihat everyone, irrespective of their age, has a unique and invaluable contribulion to make to the lives of others. By helping to create and grow communities which encourage people to remain happily together, we will deliver on that mission. Our principal activities during the year were- The provision and development of accommodation, care and support services for older people and., The provision of support services to other member societies, including the provision of technical, operational and administrative advice on behalf of Abbeyfield England. We offer four housing and or care options namely: Independent Living.. designed for active, self-reliant individuals. It allows our residents to live completely self-sufficient with communal hubs to socialise and connect with their neighbours. Sheltered Housing.. sometimes known as assisted or supported living, offers the benefits of independent living whilsl remaining a part of a friendly and sociable shared home. Residential Care Homes- Our residential care homes are designed for those wilh personal care needs or requiring one-to-one support from a qualified carer. Our residents live with the security of on-site staff who are present 24 hours a day to provide care and support. Dementia Friendly Care Homes= Our dementia friendly care homes have been designed to help support residents living with dementia or other forms of memory loss. These homes offer the same high quality support one will find in our care homes with extra tailored support for those living with dementia. Abbeyfield takes great pride in the food that we offer in our homes, from light meals to Sunday roasts, food is afways at the heart ofwhat we do and we see this as a perfect way to bring people logether wilh additional events such as baking competitions and celebrating festivities. The number of bed spaces within homes and associated assets owned and managed directly by ALS and, owned but managed on behalf of the associalion are: As At March 2025 As at March 2024 Owned and mana ed directi Affordable Rent 114 114 Housin for older le Rental Housin for older eo le Shared Ownershi Care Homes residential, nursin and demenlia Market Rent Leasehold eo 496 898 491 66 97 1,269 518 76 97 1,708 Total dlrecti mana ed Owned but mana ed b others Housin for older eople Housin for older eo Housin for older Commercial Restaurants Rental Shared ownershi Leasehold 75 75 15 15 19 eo le 14 19 Total mana ed on our behalf 126 127 Total owned 1,395 1,835 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF THE BOARD (continued) During the year the number of units owned and managed directly decreased by a net 441 beds. The movements in the year include the closure of a number of properties via our ongoing sustainability project. There was one leasehold bedspace reduction in the number of units owned and managed by others. Our Corporate Objectives 2024-25 This report and the financial statements correspond to the final year of our current strategic plan aimed al reshaping and right sizing the Society. Having analysed our operating environment and a number of pressing challenges faced by the Society, the strategic objectives for 2024-25 were again focused on stabilising the Society and positioning ourselves for the future, this wntinued to have a significant impact on our residents, services and finances. We also continued our delivery against a programme of improvemenls associaled with processes, structures, planning, intelligence and business focus,. all vital components of a transformation programme aimed at right sizing and shaping the Society as we go into the delivery of our 2025-2030 Corporate Strategy. Throughout the year, we continued to work towards five Corporate Objectives agreed by the Board, as set out below. Customer Experience Corporate Membershlp Structure Financial Viability Our Residents People and Culture Compliante and Systems Placing our residents at the heart of all we do, we set ourselves the following five Corporate Objectives.. To improve our customers, experience To improve our financial viability and maximise resources To strengthen our regulatory compliance and invest in systems infraslructure To enhance our culture and build the capacity and capability of our people To commence the restructuring plan of becoming a member organisation To deliver on these Corporate Objectives, a number of detailed actions and milestones were set. Furthermore, the Corporale Objectives were developed into a Balanced Scorecard and are now measured and reported on a quarterly basis to the Board. The Corporate Objectives have also been broken down into meaningful departmental objectives and linked to staff objectives to ensure all staff mernbers are connected to the business plan objectives. 12 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF THE BOARD (continued) What We Achieved in the Year The 2024-25 financial year has not been without its challenges. Although our financial performance lagged behind budget, some progress was made towards achieving our Corporate Objectives. The results from this year's Residents, Engagement survey showed that 90 % of Housing residenls who responded are satisfied with the service provided by Abbeyfield, while 93 % of Care Home residents who responded are satisfied wilh the overall standard of the service. Furthermore, 90 % of Housing and 93 % of Care Home respondents believe our staff are friendly and approachable. We improved on our Care Home ratings wilh the Care Quality Comrnission. Customer Experience We continued to close and then dispose of our housing stock which was identified as being no longer sustainable. Our closure programme was completed in the year with our final resident moving out during January 2025, the disposal programme is progressing. However, our overall occupancy reduced from 92 % to 89 % on our retained accommodation during the period with occupancy in Housing at 910/0 and in Care at 88010. We also implemented a new organisation structure, identifying areas of both operational and financial efficiencies. Financial Viability Compliance and Systems We maintained and continued to strengthen our Regulatory compliance including improvements in our reporting to and engagement with Regulators. We also continue to seek opportunities to further strengthen areas across internal control, evolving legislation and risk management and reporting of existing and evolving risks. Over the year, we continued lo deliver several key Human Resource and operational People and improvements to strenglhen our workforce capability and support our slrategic goals. We Culture suc￿SsfUllY launched our Human Resource & Payroll system, enhancing efficiency in workforce management and slandardisalion. We achieved high levels of training compliance and initiated an automated appraisal process, capturing valuable feedback ahead of Ihe full roll oul in Ihe 2025 perfomiance cycle. As part of our commitment to staff, we set up an Employee Experien￿ Focus Group which looks at ways to help make the experience at work as positive as possible. We successfully delivered a reslruclure which allowed the Society lo become a member society of the newly created member-focused federation. Abbeyfield England. The Sociely continued to support Abbeyfield England during the year from 1 April 2024 10 31 March 2025 as it gained independence. Membership Structure The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF THE BOARD (continued) The Yèar in Highlights Transitioned to a more customer-centric organisalion with the introduction of our new Customer Services Team, enhancing resident experience and strengthening our resident engagement infrastructure. To embrace Consumer Standards as a key melric, we launched a self-assessment programme against the Standards seeking to highlight areas for improvemenl. We have aligned this with our new housing audits which help strengthen our internal quality control system including quality audits and housing Iriage. Continued to tackle workforce challenges, seeking ways lo reduce staff turnover, agency usage and recruitment challenges. Made good progress towards implementing the Society's future target operating model, reducing overhead costs without compromising performance and quality. Despite significant restructures and a number of redundancies, stsff engagement has remained positive. Continued to place resident safety first and rolled out a modern, digitised resident alami call system. Continued our joumey to transfomi technology with an improved infrastructure, better collaboration tools, enhanced cyber security and cost savings. Consciously deployed Recycled Capital Grant generated from housing accommodation disposals to support investment in existing homes. Our strategy to utilise all of the funds from the disposal programme will involve investrnent in existing and new homes. Made posilive steps in environmenlal suslainability, with 98% of our homes now rated EPC C or above. We have strengthened environmental management systems and collaboration with residents which has contributed lo further reductions in energy use across our portfolio. Quality and compliance remain key areas offocus. with all care homes now al Good or Outstanding. Our public affairs have been more visible in the year notably through our involvement in the All-Party Parliamenlary Group report, Ihe Housing Slarts al Home Campaign run by the NHF. We are also aclive members of the NCF and Care England. We have captured many stories of our residents both internally and in the local press, and our social media engagement has given real colour to the year. Although we have achieved a great deal in the year, there remains much more to do in the year ahead as we continue to strive to deliver excellent services to residents and seek to address the significant shortage of older persons housing. 14 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

REPORT OF THE BOARD (continued) Strategic Focus 2025-2030 Much time and resource has been invested in driving a major business turnaround over the prior three years, addressing many strategic, financial and operational challenges. As we come out of the 2024-25 financial year, we are now looking forward to the financial periods aligned with the launch of our 2025-30 Corporate Strategy. Our strategy is for 'sustainable growLh'. As a provider of high-quality homes and services including housing, care and support to later living residents and communities. We will achieve this by.. Continuing to improve our performance Investing in existing and new homes Broadening our service offer lo residents and the communities we serve Developing our brand and fundraising offer Attracting volunteers Seeking to build effective strategic partnerships Our Strategic Priorities are aimed at addressing the changing needs of our residents and regulators, targeting the resources and infrastructure required to deliver our plans between 2025-2030. Our key strategic deliverables will be measured and reported under the following headings= Great seniices We aim to expand our reach as a provider of high-quality services to residents, communities and stakeholders that make a difference to people's lives. By investing in our homes and encouraging and responding to customer feedback we will ensure warm and welcoming places and spaces where we enrich the lives of all who live and engage with us. Financial resilience and a sustainable future The strength of our finances is critical to the delivery of our plan and our ability lo continue to provide high qualily homes and services for our customers and to grow our provision in Ihe fulure. A strong financial posilion is demonstrated through a good mix of revenue streams, well controlled expenditure, a strong balance sheet and strong cashflows. all of which will enable us to meet our future liabilities. An employer of choice We rely on our colleagues to provide high quality ServI￿S lo our customers every day and deliver our mission. We aim to be an employer of choice, with a diverse, highly skilled and engaged workforce who live our values, support our ambitions and are passionate about customer service. Provide more homes We are entering a period of planned sustainable growth, with the aim of providing a portfolio of good quality homes to meet future customer demand and increase revenue. This will allow us lo invest in existing and future homes. broaden our SeNi￿S within homes and communities and reach more older people. Commitment to the Environment We are committed to minimising our environrnental impact and embedding sustainability into every aspect of our operations. Through energy efficienl homes, sustainable practices and responsible procurement, we will support the transition to a low carbon future. We actively invest in relrofitling properties, promoting digital ways of working, and engaging residents and staff in sustainable living. Our approach is guided by a structured Environmental Management System, environmental targets, and a commitment to achieving Net Zero by 2050, ensuring our services remain resilient, responsible and fulure-focused. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OPERATING AND FINANCIAL REVIEW The operating environment remains challenging. At the end of Ihe financial year, the reported Group surplus was £2.6m {2024'. £16.1m deficit). Decommissioned and closed properties contributed to Turnover decreasing by 12.6 % compared to the prior year. Operating costs were 14.2 /0 lower than last year and there was no impairment charge in the year (2024= £7.1 ml. This resulted in an operating deficit of £8.8m {2024.' £18.2m deficit). Turnover Income from housing, care and support servi￿$ reduced by £6.4m to £44.3m12024'. £50.7ml. This was mainly as a result of the planned closures of properties as part of the sustainability programme. Fees and rental income decreased by £5.3m although discounts given to local authorities also decreased by £0.8m and void losses decreased by £3.2m. Other income including donations and legacies reduced by £0.7m. Operating Costs Total operating costs were £53.1m {2024'. £68.gm). This represented a £15.8m123.0 % ) decrease on the prior year as a result of property closures with our direct employee cosls decreasing by £2.6m to £27.2m, and our agency labour spend decreasing by £1.55m. The annualised staff tumover rate was 320/0, Wlth 33 % reported in our care homes and 16 % reported in our supported housing. Total expenditure in the year on property repairs and maintenance was £4.7m 12024.. £3.2ml, ulilily costs were £2.5m 12024.. £3.4ml and food costs of £1.9m 12024.. £2.2m). There was no impaimient charge in the current year12024- £7.1ml while other operating costs reduced by £4.8m. Operating and Net Deficits The operating deficit in the year was £8.8m {2024: £18.2m). The two graphs below set out the total income received and the total expenditure inCu￿ed throughout the year, highlighting the percentage derived l expended in our core operaling activities. Outside of the core areas of activity, we saw an increase in interest receivable from £0.53m to £0.75m resulting from optimising our cash deposits held with banks. Ihe interesl payable costs decreased to £0.28m from £0.29m. Our property disposal programme contributed £10.8m surplus conlribuling to the overall net surplus of £2.6m for the year12024.' £16.1 m deficit). Total Income £44m Total Operating Cost £52m 5upwrted Hou5ini Supwrted Ho￿1 66% Afft￿da￿e Rem 4% AfFordatlERent 5% 65% e￿￿erShiP 1% Lknnationsand Legaoes Le￿e5 16 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OPERATING AND FINANCIAL REVIEW (continued) Summaries of the financial performance and statement of financial posilion. for the last five years, are set oul below. 5-Year Overview of Income and Expenditure Forthe year ended 31 March 2025 £'ooo 44,312 153,0881 2024 £'ooo 50,702 161,8541 17,0871 118,2391 2,137 2023 £'ooo 50,612 155,9601 11,9511 17,2991 11341 2022 £'ooo 47,088 153,0221 110,8691 116,8031 1,682 2021 £'ooo 48,102 152,4411 Turnover Operating Costs Impairment OperatinE Deficit Other net contributions or Icostsl Net Surplus/lDeficitl 18,7761 11,347 14,3391 5,600 2,571 116,102) 17,4331 115,121) 1,261 5-Year Overview of Financial Posilion As at 31 March 2025 £'ooo 94,097 1,689 25,524 123,6741 2024 £'ooo 109,166 1,945 6,027 122,0731 2023 £'ooo 117,585 2,033 12,374 120,8251 2022 £'ooo 121,852 858 22,553 126,6631 2021 £'ooo 133,423 945 24,845 125,4921 Housing properties Other fixed assets and investment properties Net current assets Creditors falling due after more than one year Net assets 97,636 95,065 111,167 118,600 133,721 5-Year Overview of Cash flow Forthe year ended 31 March 2025 2024 2023 2022 2021 £'ooo 15,3361 18,754 12841 13,134 £'ooo £'ooo £'ooo £'ooo Net cash loutflowllinflow from operating activities Net cash gener3te/lusedl in investing activities Net cash outflow from financing activities Net increase/ldecreasel in cash and cash equivalents 15,4731 2,559 12891 13,2031 17,5081 11,1751 12621 18,9451 16,5711 7,764 11721 1,021 3,172 9,622 11431 12,651 Cash and cash equivalents 25.698 12.564 15.767 24.712 23,691 17 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OPERATING AND FINANCIAL REVIEW (continued) Capital Structure and Treasury Management The Society is financed from its retained surpluses, part of which have arisen through the receipt of legacies and donations which may be restricted in their use. In addition, any surplus arising from the disposal of properties. following the closure of schemes deemed not financially viable, has contributed to our capital reserves. At the end of the financial year, the Society had in place an £8m overdraft facility. The bank facility is secured on a seleclion of the Society's properties. The facility provides the Society with an adequate level of liquidity, removing loan covenant requirements typically found through tradilional loan borrowing. The Society is unable to raise equity funding because of its legal form. As required by the Regulator of Social Housing, 30-year financial and ash flow forecasts are prepared annually to ensure that an adequate funding strategy is in pla￿. The Society invesls cash, thal is surplus to immediate operating needs, in short lemi inlerest-bearing deposit accounts, in line with ils Treasury Management policy. Employees The number offull time employees IFTEs} has reduced by 14.1 % (2024: 5.40/.} in the year. As at 31 March 2025, the total number of FTE employees was 73812024.. 859) as per Note 8 to the Accounts. Reserves Policy An important role for the Board is ensuring the long-term sustainability of the Society. Abbeyfield's reserves policy sets out the basic principles that gives the Society the resilience and financial capacity necessary to manage unforeseen business plan stresses- give assurance to lenders and creditors Ihat the Society can meet its financial covenants and l or commitments; mitigate liquidity risks,. protect the Society from a fall in income as a result of voids and boost working capital reserve to provide capital in the event that expenditure is needed ahead of income being received. In previous years, the Board sought to maintain minimum free reserves of £10m. With effect from 1 April 2023 the policy was enhanced to include a liquidity cover of four months, with an aspiration of increasing this to six months. Liquidity cover of four months is part of the Golden Rules set by Board. The total reserves at the end of March 2025 were £97.6m {2024= £95.1 ml. Oflhis, the liquid funds (i.e. cash and cash equivalent with investments} were £25.7m (2024.. £12.95ml and the total restricted reserves were £3.1m {2024.' £3.8ml. Therefore, the free reseNes at the end of the financial year were £22.6m, which exceeds the minimum £10m free reserves requirement. The liquidity cover at the end of the year was £30.6m (i.e. cash and cash equivalent, investments and overdraft) representing over six months of expenditure. Going Concern and Viability The net assets of the Group at the end of the year were £97.6m (2024= £95.1m} wilh lotal assets net of current liabilities of £121.3m. In addition to this, the Group had £8m of undrawn lending facilities through its overdraft facility- The Group is reporting a nel Group surplus of £2.6m {2024'. £16.1m deficit), the Board has developed a long-term Business Plan based on a sustainabilily strategy that shows the Group s business activities will generate positive operating margins from 2026-27. The 30-year Business Plan, which has been stress-lested against challenging scenarios and a range of multi-variates, also shows a transfomialional plan which will lead to the Society maintaining a net Group surplus from 2024-25. A full financial and market viability review of the properties owned has been carried out. The Society has also revised its risk and mitigation framework and agreed a set of Trustees, risk appetites. The sustainability strategy is also supported by a set of newly developed Golden Rules with miligaling actions for financial resilience. The Society has committed significant sums for a major works programme over the next five years and has set up a development fund to ring-fence part of its sales prO￿edS for new investment. Performance against targets will continue to be monitored by the Finance and Investment Committee, Audit and Risk Committee and the Board. On this basis, the Board considers it has adequate resources to continue operations for the foreseeable future and to adopt the going concem basis as the basis for preparing these accounts. 18 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

OPERATING AND FINANCIAL REVIEW (continued) Key Perfonnance Indicators (KPls} In addition to the technical Value for Money metrics required by the Regulator of Social Housing, we have a suite of KPIS that are measured on a monthly basis some of which are detailed below. 2024125 2023124 2022123 9.20/ 82° 85% £0.7m £3.6m 2021122 eralin Care occu Housin occu anc Develo ment ex enditure Fundraisin Income Mar an continuin eralions excludin aiment 88/0 89/0 £1.1m £0.4m 84°/0 85°/0 £1.1m £1.3m 76°/0 84°/0 £4.2m £1.9m Donalions The Society and its subsidiaries made no political donations during the year. Health and Safety The Society is aware of ils responsibilities on matters relaling to health and safety. The Society has prepared detailed health and safety policies and provides training and education to our staff on health and safety matters. Any notable accidents or incidents are reviewed by our Customer Committee on a quarterly basis to ensure lessons are learnt which can prevent similar occurrences in the future. In the reporting period, we had four Reporting of Injuries, Diseases and Dangerous Occurrences Regulations IRIDDORI reports submitted to the Health and Safety Executive IHSEI. The total number of serious incidents reported to Ihe Charity Commission during the year was 11 (2024: 32). Resldents, Involvement We actively encourage Ihe involvement of residenls and Iheir families in decision-making by promoting forums where they Gan contribute to the decisions that affect them. We also carry out an annual Residents, Survey to measure satisfaction with care and housing seNices and to oblain feedback. Complaint Handling The Society adheres lo the Housing Ombudsman's Complaint Handling Code (the Code). As part of compliance with the Code, an annual self-assessment of our complaint handling procedures is completed. The self- assessmenl in Ihe year showed thal the Society was fully compliant wilh 68 recommendations and partly compliant with 1 other recommendalions. The residents, survey showed that 90 /0 of respondents were satisfied with how their complaints were handled. Compliance with Governance and Financial Viability Standard The Board confirms that the Society has met the Regulator of Social Housing's regulatory requiremenls in the Governance and Financial Viability Standard applicable in the reporting year. During the year. following Ihe stability check, the Regulator reaffirmed the strapline judgement and the ratings of G2 V2 were maintained. Statements of Compliance The Board confirms that this Strategic Report Review has been prepared in accordance with the principles set out in the 2018 SORP for registered housing providers. We are also pleased to report that the Society continues to comply with the principal recommendations of the NHF Code of Governance 2020. The Strategic Report and Report ofthe Board were approved by the Board on 4th September 2025 and signed on its behalf by= Mlke Turner Chair 19 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

VALUE FOR MONEY (Vfm) Vfm Strategy The Board is committed to delivering Value for Money through the Society's activities. Our Vfm Strategy sits alongside our Corporate Strategy and shapes the Society's supporting strategies. We will continue to strengthen our understanding of our value for money position; promote and embed a value for money culture,. achieve year on year efficiency savings., target resources towards front line services and maintain a high level of resident satisfaction through value for money services. Benchmarking We monitor the PerfOman￿ of the Society against appropriate benchmarks and seek to understand the comparable data. Our offer to residenls is unique and non-traditional when compared to the majority of Registered Providers within our Sector. Our unique offer spans both the Housing and Health Care Sector and so we typically select two benchmark groups to compare our performance against. We present below our year-on-year comparison of the technical metrics. Explanations are also provided below where there is a significant variance from the peer groups. Our Year-on-year Comparison of Technical Vfm metrics The table below summarises our year-on-year Vfm performance with a flag to illustrate whether there has been improvement, decline or an unchanged position. The table shows no new supply of social housing units in the year. We are pleased to report an improvement in the gearing ratio which resulted from the repayment of the Revolving Credit Facility and a strong reinvestment metric following a year of significant investment into our existing assets. There was also an improvement to Operating Margin °/0 - Overall and Return on Capital Employed largely driven through disposal of stock. There was however a decline or worsening in our EBITDA MRI Interest Cover, Headline Social Housing Cost per Unit and Operating Margin SHL % . As these metrics are linked to Contribution, the underlying deficits on discontinuing activities has been the lead conlributing factor. The Abbeyfield Society - Year on Year Reinvestment °/0 2021122 2022123 2023124 2024125 Fla 2a. New Supply delivered - Social Housing Units New Supply delivered- Non Social Housing Units Gearing O/. EBITDAIMRI Interest Cover O.OO/o 0.0% O.OO/o 2b. O.O°/o O.O°/o 0.0 /0 0.0% -16.2/0 -13.4 /0 -12.0°/0 -26.8 /0 Headline Social Cost per Unil Operaling margin % - Social Housing lettings only Operaling margin % - Overall Return on Capital Employed £24.043 £25.047 £27,378 -27.9401. £37,231 6a. 6b. -9.00 % -2.9 % -4.20/0 -7.1 % 2.1% + 2 decline on priur g= siir.'Ildr IJ yriJr sear Comparison of Vfm Perfomiance to Peer Groups The table below shows our Vfm performance against our peer group and industry medians. The peer group comprises a selection of organisations which provide housing support and care and are registered with bolh the Care Quality Commission ICQCI and the Regulator of Social Housing. This is to reflect the dual regulatory environment within which we operate. We have also compared our performance against industry median which omprises of providers with less than 3000 units and which have at least 500/0 of their stock in supported housing 20 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

and housing for older people. These providers and their perfomiance were extracted from the Regulator of Social Housing 2024 Global Accounts VALUE FOR MONEY (continued) Median - Peer Group 23124 Median- Industry 23124 The Abbeyfield Society 2024125 Reinvestment °/0 New Supply delivered - Social Housing Units New Supply delivered- Non Social Housing Units 3.1% 0.0% 4.0/0 6.7% 1.30/0 2a. 2b. O.OO/o O.OO/o 0.0% EBITDAIMRI Interest Cover Headline Social Cost per Unit Operating margin % - Social Housing lettings only Operating margin °h - Overall Return on Capital Employed -3,041 % £37,231 220.0 % £8,760 £4,586 -18.70/0 14.8% 19.8% 6b. 5.8% 2.1 /0 7.9°/0 2.5°/0 18.2°/0 2.8/0 We compare favourably against the Peer Group and industry Median in gearing °lo. However, under-performed against both Medians on the other metrics. Our operating margin % melric was below Medians as a result of the reported deficits. This also explains why the Eamings Before Interest, Tax and Depreciation Major Repairs Included (EBITDA MRI) was adverse wmpared to the peer group and industry Medians. Our Headline Social Housing Cost Per Unil was higher than the peer groups reflecting Ihe higher costs of delivering Ihe Abbeyfield model of housing and care services. The unique mix of Abbeyfield's care and supported housing should be considered in context when drawing comparison with sector performance. Improving on our Vfm Metrics and Cost per Unit Vfm is a key consideration for social landlords and there is an increasing focus on demonstrating Vfm especially given Ihe rapidly shifting economic climale. increased demands from customers and overstretched budgets and funding pots. ALS will soon be publishing our revised Vfm strategy which aligns to our Corporate Strategy 2025- 30. We will ensure the strategy addresses how we will.. Continue to improve our understanding of our current value for money position., Promote and embed a value for money culture. Achieve year on year efficiency savings. Target resources towards fronlline services., Maintain a high level of resident satisfaction with value for money., Streamline processes and prO￿dureS to reduce costs., Invest in technology to improve service delivery and reduce costs., Conduct regular value for money assessments to identify opportunities for improvement., Benchmark performance against other social landlords to identify areas for improvement; Engage our residents lo understand their needs and preferences, and tailor services accordingly and- Focus on preventative maintenance to reduce the need for costly repairs. 21 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

RISKS AND MITIGATIONS The Board is aware of the key risks faced by the Society and has assessed their likely impacl and severity against the organisation's strategic objectives. The Board has updated the risk management framework which resulted in a deep dive into the corporate risk register and the setting of a new Trustees, risk appetite. The Board also considered the Social Housing Sector Risk Profile for 2024 to ensure we have captured relevant risks in our risk register and have appropriate mitigation plans in place for those identified risks. The Risk Assurance Framework covers strategic and operational risks which are regularly reviewed by the Executive Team, the Audit and Risk Committee and by Ihe Board. Controls are identified for all risks and an assessment made as to their effectiveness. The Board also conducts stress testing of the business plan for the Society. This involves testing what would happen under a range of different scenarios and if multiple risks crystallised. The Board considers mitigating strategies in respect of the risk exposures. The culmination of our risk assessment allows us to categorise those risks within the three defined categories below.. Risks act Miti ations Continued year- on-year deficits resulting in depleted reserves, depleting assets, service failure and inability of the Society to continue as a Going Concern. Understand the stock profile, capital investment requirements and scheme viability Robust business plan, stress tested and mitigation plans Set Golden Rules to serve as early prompts Regular cash flow forecasts and effective treasury management Effective financial and management reporting, ensuring accuracy and timeliness Cost efficiencies targets Financial instability Poor safeguarding of residents which Safeguarding, can lead to health and downgrade of safety risks services or care home and attract Regulatory involvement Safeguarding policies and procedures fully implemented Systems in place to closely monitor and report divergent promplly to the Customer Committee Internal Audit programme of assurance Keeping abreast of prevailing legislations Business continuity planning and appropriate levels of management oversights Risk of intervention by local authority, Care Quality Commission (CQC) or the Regulator of Social Housing (RSHI Robust intemal and external audits along with quality assurance frameworks Staff training and residents engagement Care management policies and produces are up to date Recruitment of Head of Care Compliance Gap analysis of NHF Code of Governance Compliance Risks 22 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

STATEMENT OF RESPONSIBILITIES OF THE BOARD The Board is responsible for preparing the Strategic Report, Annual Report and the Financial Statements, in accordance with applicable law and regulation. Company law and social housing legislation require the Board to prepare Financial Statements for each financial year in accordance with Uniled Kingdom Generally Accepled Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Board must not approve the Financial Statements unless it is satisfied that they give a true and fair view of the state of affairs of the Society and of the surplus or deficit of the Society for that period. In preparing these Financial Statements, the Board members are required to.. select suitable accounting policies and apply them consistently., make judgements and accounting estimales that are reasonable and prudent., state whether applicable UK Accounling Standards and the Stalemenl of Recommended Practice "Accounting by Registered Social Housing Providers 2018" and FRS102 have been followed. subject lo any material departures disclosed and explained in the Financial Statements- and prepare the Financial Statements on a going concern basis unless it is inappropriate to presume that the Society will continue in business. Board members are also responsible for keeping adequate accounting records that are sufficient to show and explain the Society's transactions and disclose with reasonable accuracy at any time the financial position of the Society and enable it to ensure Ihal its financial statements comply wilh the Companies Act 2006. the Housing and Regeneration Act 2008 and the Accounting Direction for Registered Providers of Social Housing 2022. The Board is also responsible for safeguarding the assets of the Society and for laking reasonable steps for the prevention and detection of fraud and other irregularities. Board members are also responsible for ensuring that the Report of the Board is prepared in accordance with the Statement of Recommended Practice 'Accounling by Registered Social Housing Providers 2018" and FRS 102. The Board is responsible for ensuring that the assets of the Society are properly applied under charity law. The annual report and accounts are published on the Society's website in accordance with legislation in the UK governing the preparation and dissemination of financial slalements, which may vary from legislalion in other jurisdictions. The Board members, responsibility also extènds to the ongoing integrily of the financial stalemenls contained therein. Slavery and human trafficking statement The Modem Slavery Act 2015 introduced new obligations in relation to slavery and human trafficking. The Society is fully supportive of the legislation as it is in keeping with our ethos and principles. The statement includes compliance for our supply chain partners. 23 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

GOVERNANCE Board members and Executive Team The Society's Board members who served during the year are set out on page 6. The Board members are drawn from a wide range of backgrounds bringing together professional, Gommercial and other relevant experience. The Board. which comprises the company direclors, has overall responsibility for the direction, managemenl and control of the Society. Overall operational management is delegated to the Chief Executive and the Executive Team. The Board adopts the National Housing Federation (NHF) Code of Governance 2020 and the Company Secretary and the Executive Team provide support to the Board in monitoring compliance wilh the Code. The Board may comprise up to 10 trustees and requires a minimum of five trustees including the Chair. Board members are appointed by the Board. Applications to be considered for appointment to the Board are invited following recruitment and advertising. Candidates are nominated for appointmenl by the People Committee having regard lo the need for the persons appointed having the necessary range of skills, experience, gender, age and elhnicity. Board members may serve for fixed temis ofthree years up to a maximum of nine years. The Board fomially met seven limes during ihe year, with additional sessions lo discuss stralegy and performance. Throughout the year, the Board continued lo monitor its effectiveness and the terms of reference for the various committees of the Board, to ensure Ihat they are following best Practi￿ in the sector. Board members are encouraged to acquaint themselves with all aspects of the Society, particularly operational matters. The Executive Team hold no financial interest in the Society, except for their remuneration arrangements, and art as executives within the authority delegated to them by the Board. The Executive Team is entitled to join the Society's slakeholder pension scheme on the same terms as other employees. Details of Iheir remuneralion are disclosed in Note g (Board and Executive Remunerationl- Insurance policies indemnify Board members and officers against liability when acting for the Society. Directors Duties and section 172 reporting The Direclors of Ihe Society must act in accordance with a set of general duties embodied in section 172111 (a-fl of the Companies Act 2006 {11, summarised as follows.. A Director must act in the way they consider. in good faith, would be mosl likely to promote the success of the company for the benefit of ils members as a whole, and in doing so, have regard {amongst other matters) to.. The likely consequences of any decisions in Ihe long-term. The inlerests of Ihe company's employees. The need lo fosler the company's business relationships with suppliers, cuslomers and others. The impact oflhe company's operations on the community and environment. The desirability of the company maintaining a reputation for high standards of business conduct. The need lo act fairly as between members of the company. As part of the induction process, Directors are briefed on their duties, including the long-term stewardship of the Society to ensure it delivers against its stralegic objectives as set out in the Trustees, Report above. Our Board monitors the impact of its decisions against the long-term financial plan on an annual basis, and more often if the situation demands. We operate to a strategic plan that involves setting bolh operational and financial largets that address our charitable objectives as set out in the Report of Ihe Board. 24 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

Our employees are fundamental to the delivery of our plan. We are a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our employees is one of our primary considerations in the way we conduct our business. We have policies on fraud, anli-bribery and a 25 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

GOVERNANCE (continued) whistleblowing policy which encourages colleagues to raise issues of suspected malpraclice. Our Audil and Risk Committee also receives reports if issues are raised. Intemal Controls Assurance The Board acknowledges its overall responsibilily for eslablishing and maintaining the whole system of internal control and for reviewing its effectiveness. We recognise that any system can only manage, and not eliminate, risk and can only provide reasonable, and not absolute, assurance against material misstatement or loss. The Board is satisfied thal controls are in place and it ensures Ihere is ongoing review as part of a process of continuous improvement. Forvis Mazars LLP were appointed in 2018 to provide internal audit function. The Board approves the annual budgets, business plans and risk management framework on recommendation of the Finance and Audit Commiltees. A delegated authority framework is in place for incurring and approving expenditure, with formal involvement of members of the Board for larger transactions. Quarterly updates on performance against business objectives and the budget are provided to the Board. The Society has slaff recruitment and appraisal processes in place. This includes moniloring of staff performance through one-to-ones and the effectiveness of training programrnes undertaken by our staff. Whilst the Board cannot delegate ultimate responsibility for the systern of internal control, it has delegated the review of the effectiveness of the Society's system of internal control to the Audit and Risk Committee. The Board receives minutes of all meetings of the Audit and Risk Committee and gets assurance from the committee that arrangements are in place lo manage the risk of fraud. Environment We have made a positive start towards improving our own Environmental Sustainability. In May 2021, an Environmental Working Group was formed, comprising various interested parties from across the Society. This was used as a hub to raise ideas of how Abbeyfield could evolve to be a greener pla￿ to live and work. We further appointed an Environmentsl Sustainability Co-ordinator during the year to lead on our approach to delivering environmental sustainability in our homes. We have established targets to reduce energy consumption, plans to increase resource focused on environmental initialives and funding for specific capital expenditure in our schemes to deliver environmental efficiency. Con8umptlon 2024125 Consumptlon 2023124 Kwh Mil8age 000 Kg C028 000 Kwh Mi18age 000 Kg C028 000 000 000 Elèciric 5,276 1,230 El&ctric 8,877 1,603 Gas 12,829 2,990 Gas 18,017 3,734 Trans ort 262 62 Trans ort 392 92 Total 18,105 262 4,282 Total 22,894 392 5,429 Year on Year Improv&ment % Improv8m8nl 1147 21. Our impact on the environment is sel-out in the Streamlined Energy Carbon Report (SECR) below. The SECR framework is a mandatory UK-wide reporting scheme to improve transparency and help reduce carbon emissions. The carbon fooiprinl table below reflects activity across the Society. The actual gas and electricity consumption was recorded in Kwh. To convert kwh to kg of carbon (Kg Co2e) released based on Greenhouse gas reporting, a conversion factor from Department for Business, Energy and Industrial Slrategy IBEIS) has been used. The conversion factor is 0.23314 kg C02 is saved for each kwh 26 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

GOVERNANCE (continued) produced from a carbon free source. The factor is based on the carbon emissions generated by the current UK power stations per kwh generated. The data reflects an overall reduction in carbon emissions of 21 %. During Ihe year. there was a 23 % decrease in electric consumption and a 2001. decrease in gas consumption. Given Ihat we saw a smaller increase in electricity pricing, we switched, where possible, to electricity usage over gas. This approach led to an overall cost saving in our energy costs. We continue to install new energy efficient boilers and make a huge effort to embed better energy efficiency praCtI￿S in our homes. Fundraising ALS are committed to achieving the highest standards of professional fundraising. ALS are corporate members of the Institute of Fundraising and registered with the Fundraising Regulator, to whom we pay the Fundraising Levy. Through the systems and processes we have put in place, we aim to achieve the standards set out in the Fundraising Code of Practice. ALS are signed up to the Fundraising Preference Service. Our small team of fundraising staff are aware of and pay due attention to data protection practices lo ensure we are compliant with the General Data Protection Regulation (GDPRI when handling personal data. Complainls from fundraising activities are contained in the Complaints I Whistleblowing Register which is reviewed regularly by the Audit and Risk Comrnittee and or the Customer Committee. During the year, we had no fundraising complainls12024'. nil). Statement of Public Benefit As a public benefit entity providing housing, care and support lo older people. our Board has complied wilh its duty to have due regards to the Charity Commission's guidance on public benefit when exercising their powers and duties to which the guidance relates. Our Mission and Values are discussed on page 5. Our Charitable Object is for Ihe relief and care of elderly persons of all classes, beliefs and nationalities. Our homes are open to all that apply and we ensure the necessary assessments are done to ensure individuals are pla￿d in the right home and l or care environment suitable to their needs. We also undertake annual residents, surveys as part of our approach to engaging with residents and evalualing residents, satisfaction. year on year. The report of the Board was approved by the Board on 4, September 2025 and signed on its behalf by-. Mike Turner Chair 27 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

INDEPENDENT AUDITORYS REPORT TO THE MEMBERS OF THE ABBEYFIELD SOCIETY Opinion We have audited the financial statements of The Abbeyfield Society Ithe'society'} and its subsidiaries Ithe'group,) for the year ended 31 March 2025 which comprise the consolidated and society statements of comprehensive income, the consolidated and society statements of financial position, the consolidated and society statements of changes in reserves and notes to the financial stalements, including significant accounting policies. The financial reporting framework Ihat has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdorn Generally Accepted Accounting Practi￿1, the Housing and Regeneration Act 2008, the Statement of Recommended Practice ISORP) accounting by Registered Social Housing Providers 2018 and the Accounting Direction for Privale Registered Providers of Social Housing 2022. In our opinion the financial statements.. give a true and fair view of the state of the group's and the society's affairs as at 31 March 2025 and of the group's and society's surplus for the year then ended., have been property prepared in accordance with Uniled Kingdom Generally Accepted Accounting Praclice,. and have been prepared in accordance wilh the requiremenls of Ihe Housing and Regeneration Act 2008. the statement of Recommended Practice {SORP) accounling by Registered Social Housing Providers 2018 and the Accounting Direction for Private Registered Providers of Social Housing 2022. Basis for opinion We conducted our audit in accordance wilh International Standards on Auditing IUKI {ISAs {UKI} and applicable law. Our responsibilities under Ihose standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent society in accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the UK, including Ihe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihat the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to Going Concern In auditing the financial statements, we have concluded that the board members, use of the going concem basis of accounting in the preparalion of the financial statements is appropriate. Based on Ihe work we have performed, we have nol identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the group's and society's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the board members with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The board members are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other information and, except lo the extent otherwise explicitly slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other informalion and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or olherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether Ihis gives rise lo a material misstatement in the financial 28 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD SOCIETY (continued) slatements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other informalion, we are required to report Ihat fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in Ihe course of our audil.. the infomiation given in the report of the board, prepared for the purposes of company law, for the financial year for which the financial slalements are prepared is consistent with the financial statements- and the strategic report and directors, report included within the report of the board have been prepared in accordance wilh applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the society and their environment obtained in the course of the audit, we have not identified material misstatements in the report of the board. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us,. oradequate accounting records have not been kepl., or Ihe financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustee directors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responsibilities of the Board As explained more fully in the board members, responsibilities statement, the board members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the board members 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 board members are responsible for assessing the society's ability to continue as a going COn￿rn, disclosing, as applicable, matters related to going concern and using ihe going concern basis of accounting unless the board members either intend to liquidate the society or lo ￿ase operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuran￿ but is not a guaranlee thal an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at= https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities. including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. 29 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD SOCIETY (continued) We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on Ihis understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed prO￿dureS which included.. Enquiry of management and those charged with governance around actual and potential liligalion and claims as well as actual. suspected and alleged fraud., Reviewing minutes of meetings oflhose charged with govemance- Assessing Ihe extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entily through enquiry and inspection- Reviewing financial slalement disclosures and testing io supporting documentation lo assess compliance with applicable laws and regulations- Perfoming audit work over the risk of management bias and override of controls, including testing of journal enlries and other adjustments for approprialeness, evaluating the business rationale of significant Iransactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial slalements or non-compliance with regulation. This risk increases the more that compliance with a law or regulalion is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misslatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Use of our Report This report is made solely to the sociely's members. as a body, in accordance with the Housing and Regeneration Act 2008 and Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the society's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullesl exteni permitted by law, we do not accept or assume responsibility to anyone other than the society and the society's members as a body, for our audit work, for this report, or for the opinions we have formed. Susanna Cassey (Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Fleet House New Road Lancaster United Kingdom LA1 1EZ Date: 6 September 2025 30 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

FINANCIAL STATEMENTS Consolidated Statement of Comprehensive Income for the year ended 31 March 2025 Total Total 2025 £'ooo 2024 £'ooo Note Turnover 44,312 50,702 Operating costs 153,0881 161,8541 Impairrnent 15 17.0871 Total Operating Costs 153,0881 168.9411 Operating Ideficitl 18.7761 118,2391 Surplus on disposal of Housing Properties li 10,862 1,856 Other interest receivable and similar income 12 751 532 Interest and financing costs 13 12841 12891 Movement in fair value of investment properties 17 Movement in fair value of inve5tment5 21 18 38 Surplus / Ideficitl before taxation 2,571 116.1021 Taxation 14 Surplus / Idefititl after taxation and total comprehensive income/lexpen5el for the year 2,571 116,1021 The Notes on pages 35 to 56 form part of these Financi￿ Ststements. 31 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

FINANCIAL STATEMENTS Society Statement of Comprehensive Income for the year ended 31 March 2025 Total Totèl 2025 £'ooo 2024 £'ooo Note Turnover 44.312 50,702 Operating costs 153,0881 161.8541 Impairment 15 17,0871 Total Operating Costs 153,0881 168,9411 Operating Ideficitl 18,7761 118,2391 Surplus on disposal of Housing Properties li 10,862 1,856 Other interest receivable and similar income 12 751 532 Interest and financing costs Movement in fair value of investment properties 13 12841 12891 17 Movement in fair value of inve5tment5 21 18 38 Surplus / Ideficitl before taxation 2.571 116,1021 Taxation 14 Surplus / IdeflcStl after taxatlon and total tomprehenslve Incomellexpensel for the year 2.571 116.1021 The Notes on pages 35 to 56 form part of these Financi￿ Ststements. 32 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

FINANCIAL STATEMENTS Consolidated and Society Statements of Financial Position at 31 March 2025 Group 2025 Group 2024 Society 2025 Society 2024 Note £'ooo £'ooo £'ooo Fixed assets Tangible fixed assets- housing properties Other fixed assets- Tangible and Intangible Investment properties 15 94,097 809 109,166 1,065 880 95.377 110,446 1,065 880 16 17 880 95,786 iii.iii 97.066 112,391 Current assets Properties held for sale Debtors- receivable within one year Debtors- receivable after one year Investments 19 8,112 3,076 1,859 3,752 232 8.112 3.272 1,894 4,075 232 20 20 21 394 394 Cash ènd cash equiv8lentS 25,698 36,886 12,564 18,801 25,516 36.900 12,350 18,945 Credltors: amounts due wlthln one year 22 111,3621 112.7741 11.41SI 112.9561 Net current assets 25,524 6,027 25N85 5,989 Total assets less current liabilities 121,310 117,138 122,551 118,380 Creditors: amounts due after one year Provision for Liabilities and Char8es due after one year Net assets 23 122.8741 120,8731 122.8741 120,8731 24 18fyJl 97,636 11,2001 95,065 18001 98,877 11,2001 96.307 Capltal and reserves Income and expenditure reserve Restricted reserve 94,501 3,135 91,265 3,800 95,742 3,135 92.507 3.800 Total Capital and reserves 97,636 95,065 98,877 96,307 The financial statements were approved by the Board and authorised for issue on 4 September 2025 and signed on their behalf by.. Mike Turner 33 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

The Notes on pages 35 to 56 form part of these Financi￿ Statetnents. FINANCIAL STATEMENTS Consolid￿•d6￿1•M￿tofc￿1￿l•51nr&60rnIps￿rth•y0Ir•￿l￿￿ 31Marth2025 Re5tiiCted r25eves Total B•lJnceat31 North2024 91.265 titl ISutpluS totthoye 3.236 1571 Boiancfr at 31 Mèrth2025 94.501 3.235 97.G36 SoL¥tyS1•tem•nt 0tdwsiTrr•soiv•slorthey￿•rK1P￿3I m￿ch2￿2$ Restsicted ie5eNeJ Totol B•l•nvp et 31 F4orth2024 92,507 3.800 .307 IDftitl ISLKp1ts5 f￿th￿Y 3.236 1571 8Dl•nce at 31 N&rth2025 95.743 3.135 98,878 ConEoiidDtedst&t?ITrEMof5in r?JerV2st￿theYÈW&lded 31 MaTch2024 lncorneand2¥pw￿1fY[P[2s2T¥e Re5tsicted le5￿5 TDtsi •iKÈ at31 Marth2023 10S.M7 5.610 211,167 l£fiDtl I&KplusforthTry&Y 11.8101 {16.1021 BDionce 4t 31 Marth2024 91,265 s￿ety5t￿e￿E￿ Dfth*J4n reserye51rylheywwenOEd31 Mwth 202 IrthTpe4nd•ptyLd￿UI￿1oSèrve Regtrtpd TDtst aiaAc• at31 Mèrth2023 I￿.785 5.610 111409 utl ISwpIusfort￿yeaT 11.8101 116.1021 •iJn¢2 rt31 f4•rth2024 92,507 9SX17 Thé Not8s on pag8s 35 to 56 form part of these Flnancial Statem8nt8. 34 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

FINANCIAL STATEMENTS Consolidated statement of Cash Flows for the year ended 31 March 2025 2025 2024 £'ooo Cash flows from operatlng actlvltles Surplus / (deficit) for the financial year Adjustments for.. Impairment of housing properties Depreciation of fixed assets - housing properties Accelerated depreciation on disposal of components Depreciation of other fixed assets Tangible and Intangible Transfer of fixed asset to current asset 2,571 116,1021 7,087 2,526 93 249 2,218 93 396 16 15 5,477 1135} 118) 284 Amortisation of grant Movement in fair value of investments Interest payable and finance costs Interest received 1Surplusl on the disposal of fixed assets Decrease in trade and other debtors Ilncreasel / decrease in properties held for sale Decrease in creditors Net cash loutflowl from operating activitie5 11261 1381 289 21 13 12 1751) 110,862) 676 {6,253) 968 15,336) 15321 11,8561 216 li 20 19 858 1,863 15,4731 Cash flows from investing activities Transaction costs for sale of housing properties Grant repaid Sale of current asset investments Proceeds from sale of fixed assets- housing properties Purchase of fixed assets- housing properties Purchase of Other fixed assets - Tangible and Intangible Net loan repayments from member societies Interest received Net cash generated in investing activities li 26 21 li 1237) {1.743} 412 22,341 12.863) 1139) 232 11581 6,536 14,1961 11611 15 16 20 12 751 532 18.754 2,559 Cash flows from financing activities Interest paid 13 1284) 12891 Net cash loutflowl by financing activities 1284) 12891 Net increase/{decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and Cash equlvalents at end of year 13.134 12.564 25,698 13,2031 15,767 12,564 The Notes on pages 35 to 56 form part of these FinanGiJ Ststetnents. 35 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS 1. LEGAL STATUS The Group consisls of the following Ihree trading entities.. The Abbeyfield Society Limited ("Ihe Society" company number 574816), Abbeyfield Properties Limiled (company number 94825761 and The Abbeyfield Research Foundation {company number 97052171. The Soaely is a company limited by guarantee, incorporated in England and Wales, having no share capital and with solely charitable objectives. The Society is registered with the Regulator of Social Housing and the Charity Commission. The Society's registered address is 17-19 Hampton Lane, Solihull, B912QJ. The Society is a member of the wider Abbeyfield Family, headed by Abbeyfield England and The AbbeyField Society World Council. The Abbeyfield Society is now trading as The Abbeyfield Living Society. The Society and the Group do not have a controlling interest in any Abbeyfield Member Society. The Society is a public benefit entty. These financial statements do not reflect the assets. liabililies or financial transactions of any member societies other than the Society. Abbeffield Properties Limited is a company limited by shares, incorporated in England and Wales, having a share Gapitsl of £1. AbbeyField Properties Limited is a wholly owned subsidiary of the Society. It was set up by the Society as a design-and-build company for undertaking new developments. Abbeyfield Research Foundation is a company limiled by guarantee, incorporated in England and Wales, having no share capital and with solely charitable objectives. It is registered with the Charity Commission (Charity No. 1167685). Abbeyfield Research Foundation is a wholly owned subsidiary of the Society. Abbeyfield Research Foundalion is a fundraising and grant making body. which focuses on funding research into issues that affect older people. 2. ACCOUNTING POLICIES The financial statements have been prepared in accordance with applicable law and UK accounting standards in the United Kingdom (United Kingdom Generally Accepted Accounting Practice) which for the Society includes the Companies Act, Housing and Regeneration Act 2008, FRS 102 "the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" and the Statement of Recommended Practice ISORP) for Registered Social Housing Providers, "Accounting by Registered Social Housing Providers" 2018 and the Accounting Direction for Privale Registered Providers of Social Housing 2022. The accounts are prepared under the historic cost basis except for the modification lo a fair value basis for certain financial instruments and investment properties, as specified in the accounting policies below. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Ihe management to exercise judgement in applying the Group's accounting policies. In preparing the separate financial statements of the Society, advantage has been taken of the following disclosure exemptions available in FRS 102.. Section 7 'Slatemenl of Cash Flows.: Presentalion of a statement of cash flow Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instrument Issues.. Interest incomelexpense and net gainsllosses for financial instruments not measured at fair value., basis for determining fair values., details of collateral, loan defaults or breaches, details of hedges. hedging fair value changes recognised in profit or loss and in other comprehensive income., Section 33 'Relaled Party Disclosures,: Compensalion for key management personnel No cash flow statement has been presented for the Society., Disclosures in respect of the Society's financial instruments have not been presented since equivalent disclosures have been provided in respect of the Group as a whole., No disclosure has been given for the aggregate remuneration of the key management personnel of the Society as their remuneration is included in the totals shown for the Group as a whole. The financial statements are prepared in sterling, which is the functional currency of the society. Monetary amounts in the financial statements are rounded to the nearest £'OOO. unless otherwise stated in the financial statements. 36 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) The following principal accounting policies have been applied= Basis of Consolidation The consolidated financial statements present the results of the Society. a registered provider of social housing and its subsidiaries (together "the Group"} as if they fomed a single entity. Intercompany transactions and balances between Group companies are therefore eliminated in full. Going Concern The Board has developed a long-temi Business Plan based on a sustainability strategy that shows the Group's business activities will generate positive operating margins from 2026127. The 30-year Business Plan, which has been stress-tested againsl challenging scenarios and a range of multi-variates. also shows a transformational plan which will lead lo the Society mainlaining a net Group surplus from 2024125. A full financial and markel viability review of the properties owned has been carried out. The Sociely has also revised its risk and mitigation framework and agreed a set of Trustees, risk appetites. The sustainability strategy is also supported by a set of newly developed Golden Rules wilh miligating actions for financial resilience. The Society has committed significant sums for a major works programme over the next five years and will be setting up a development fund to ring-fence part of its sales proceeds for new investment. Perfo￿anCe againsl largets will continue to be monitored by the Finance and Investment Committee, Auditand Risk Committee and the Board. On this basis, the Board considers it has adequate resources to continue operations for the foreseeable future and to adopt Ihe going concem basis as the basis for preparing ihese accounts. Income The Society's turnover principally comprises income receivable from residents, annual membership fees due from Member Societies, donations from third parties, legacies and sale of properties. The residents, charges are composite arnounts covering rent, service charges and care income. Income is measured at the fair value of Ihe consideration received or receivable. The Group generates the following material income streams.. Rental income (excluding rent from void properties available for lettingl- Service charges receivable., Donations and legacies- Membership fees: Property sales prO￿ed5', Markel rents. Tumoverfrom social housing leltings is recognised on delivery of services lo end users. as the Society performs its obligations. Income from donations and legacies is accounted for on a receivable basis when it is more likely than notthat the economic benefits will flowto the Society and the amount ofthe income can be measured reliably together with any related costs. Proceeds from the sale of properties are recognised on completion of sales. Rental income is recognised from the point when properties under development reach practical completion and are formally let. Income from properties built for sale is recognised at the point of legal completion of the sale. The Group adopts a fixed method for calculating and charging service charges to its tenants and leaseholders. Expenditure is recorded when a service is provided and charged to the relevant service charge account or to a sinking fund. Income is recorded based on the estimated amounts chargeable. Legacy Income Legacy income is recognised in the accounts when receipt is considered probable. Legacy receipts are usually considered probable when the executors have confirmed there is a bequest to the Society. Value Added Tax The Group charges Value Added Tax (VAT) on some of its income and is able to recover part of the VAT it incurs on expendilure. The financial statements include VAT to the exlent that it is suffered by the Group and not recoverable from HM Revenue and Customs. Recoverable VAT arising from partially exempt aclivities is credited to the Statement of Comprehensive Income. 37 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) Corporation Tax The society pays corporation lax at the applicable rate within the United Kingdom, however due to its charitable slalus as recognised by HMRC. the Group benefits from the relief applicable to charities and housing associations. Finance Costs Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the applicable interest rate so that Ihe amount charged is al a constanl rale on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Pension Costs Contributions to Ihe Group's defined contribution pension scheme are charged to the Statement of Comprehensive Income in the year in which they become payable. Hollday Pay Accrual A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balan sheet date and carried fO￿ard to future periods. This is measured at the undiscounted salary cost of the future holiday entillernent so accrued at the balance sheet date. Tangible Fixed Assets- Housing Properties Housing properties constructed or acquired (including land) on the open markel are stated at cost less depreciation and impairment where applicable. Housing properties received as part of a transfer of undertakings were initially recorded at fair value., depreciation and impairment has been deducted as applicable. The cost of freehold land and property represents their purchase price and any directly attributable costs of acquisition which may include an appropriate amount for staff costs and other costs of managing development. Expenditure on major refurbishment of properties are capitalised where the works will increase the net rental slream over the life of the property. An increase in the net rental stream may arise through an increase in the rentsl income, a reduction in future maintenance costs, or a subsequent extension in the life of the property. All other repair and replacement expenditure is charged to the Statement of Comprehensive Income with the exception of componenls. which are capitalised as they have a life of more than one year. Housing properties in the course of construction, excluding ihe eslimated cosl of the element of shared ownership properties expected to be sold in first tranche, are included in Tangible Fixed Assets and held at cost less any impairment, and are transferred to completed properties when ready for letting. Depreciation of Housing Properties Housing properties are split between freehold land, structure and other rnajor components that are expecled to require replacement over time. The portion of shared ownership property relained or expected lo be retained is not depreciated on account of the high residual value. Neither the depreciable amount nor the expected annual depreciation charge for such assets is considered material, individually or in aggregate. Assets in the course of construction are not depreciated until they are completed and ready for use. Freehold land is not depreciated on accounl of its indefinite useful economic life. The cost of all other housing property including shared ownership properties (net of accumulated depreciation to date and impaimient, where applicable) and Gomponents is depreciated over the useful lives of the assets on the following basis.. Description Estimated useful life (years} Structure 100 Roofs 50 Kitchen 30 Bathroom 30 Windows and doors 30 Electrical 20 Heating 15 Lifts 15 Furniture and Equipment 10 38 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) Allocation of Costs for Mixed Tenure and Shared Ownership Developments Costs are allocated to the appropriate tenure where it is possible to specify which tenure the expense relates to. Where it is not possible to relate costs to a specific lenure type costs the costs are allocated by square footage. Other Fixed Assets- Tangible & Intangible other tangible and intangible fixed assels are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historic cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be Gapable of operating in the manner intended by management. The Group adds to the carrying amount of an item of fixed assets the cosl of replacing part of such an item when that cosl is incurred, if the replacement part is expected to provide incremental fulure benefils to the Society. The carrying amount of the replaced part is written off. Repairs and maintenance are charged lo SOCI during the period in which they are incurred. Depreciation of Other Fixed Assets - Tangible and Intangible Land is nol depreciated. Deprecialion on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The estimated useful lives are as follows= Description Furniture and equipment Motor vehicles Office furniture Office equipment and computer software 3-5 Estimated useful life (Years) 10 The assets. residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, rf there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised below operating surplus/ldeficit}, in the statement of comprehensive income. Investmenl Properties Investment properties consist of properties not held for social benefit or use in operations. They are properties held to eam rental income or for capilal appreciation. They are initially measured at cost and subsequently at fair value as determined by external valuers. No depreciation is provided. Changes in fair value are recognised in soci. Government Grants Grant received in relation to constructed or acquired housing properties is accounted for using the accrual model set out in FRS 102 and the Housing SORP 2018. Grant is carried as deferred income in the balance sheet and released lo the Statement of Comprehensive Income on a syslematic basis over the useful economic lives ofthe asset for which it was received. Where social housing grant I'SHG") funded property is sold, the grant becomes recyclable and is transferred to a recycled capital grant fund until it is reinvested in a replacement property if not transfe￿ed to the purchaser if they are an RP. If there is no requirement to recycle or repay the grant on disposal of the assets any unamortised grant remaining within creditors is released and recognised as income within the ststement of Comprehensive Income. Where properties with grant attached are received as part of a transfer of undertakings the ultimate requirement to recyclelrepay grant sits within the Society and is recorded as a contingent liabilily. Grants relating to revenue are recognised in the Statement of Comprehensive Income over the same period as the expenditure to which they relate once performance related conditions have been met. Grants due from government organisations or received in advance are included as current assets or liabilities. 39 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) Recycled Capital Grant Fund On the Occurren￿ of certain relevant events, primarily the sale of dwellings, Homes England can direct the Society to recycle capital grants or to make repayments of the recoverable amount. The Group adopts a policy of recycling, for which a separate fund is maintained. If unused within a three-year period, grant should be repayable to Homes England with interest. Any unused recycled capital granl held, is disclosed in the balance sheel under "creditors due after more than one year" ex￿pt where the property disposal was greater than two years previous and this is disclosed. as creditors due less than one year. Valuation of Investments Investments in subsidiaries are measured at cost less accumulated impairment. Investments in listed company shares, which have been classified as current asset inveslments, are stated at fair value al each balance sheet date. Gains and losses are recognised in the Statement of Comprehensive Income for the period. Impairment of Tangible Fixed Assets The housing property portfolio for the Group is assessed for indicators of impairment at each balance sheet dale. Where indicators are identified then a detailed assessment is undertaken to compare the carrying amount of assets or cash generating units for which impairment is indicated to their recoverable amounts. An option appraisal is carried oul to determine the option which produces the highesl net realisable value. Some properties have been valued at value-in-use service potential. The Society defines cash generating units at unit level. Where the recoverable amount of an asset or cash generating unit is lower than its carrying value an impairment is recorded through a charge to Statement of Comprehensive Income. Regular review of current impairment is undertaken to establish accuracy, prior impairment may be reversed where appropriate. Properties Held for Sale Properties held for sale comprises work in progress and completed properties, including housing properties developed for transfer to other registered providers., closed properties received as part of a transfer of undertakings that are held for sale,. properties developed for outright sale- and shared ownership properties. For shared ownership properties the value held as properties held for sale is the estimated cost to be sold as a first tranche. Properties held for sale are staled at the lower of cost and net realisable value. Cost comprises materials, direct labour and direct development overheads. Net realisable value is based on estimated sales proceeds after allowing for all further costs to completion and selling costs. Shared Ownership The share of shared ownership properties which is to be sold in the firsl tranche sale is held within stock. The remainder, comprising further tranches and the element which is to be relained by the Society is held within fixed assets. Debtors and Creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income in other operating expenses. Recoverable Amount of Rentsl and Other Trade Receivables The Group estimates the recoverable value of rental and other receivables and impairs any debtors by appropriate amounls. When assessing the amounl to impair it reviews Ihe age profile of the debl, historic collection rates and the class of debt. Loans to Member Societies Loans to Member Societies are regarded as concessionary loans {FRS 1021. Those loans are made al a rale of interest which is below the prevailing market rate of interest. These loans are measured at the amount advanced al the inception of the loan less amounts received and any provisions for impairment. Any associated grant is recognised as deferred income until the loan is redeemed. 40 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) Rent and Service Charye Agreements The Group has made arrangement with individuals and households for arrears payments of rent and service charges. These arrangements are effectively loans granted at nil interest rale. Loans, Investments and Short-Term Deposits These instrumenls are initially recorded at the transaclion price less any transaction costs (historic cost). FRS 102 requires that basic financial instruments are subsequently measured at amortised cost. Loans and investments that are payable or receivable within one year are not discounted. Financial Liabilities and Equity Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations. rather than the financial instrument's legal form. Cash and Cash Equivalents Cash and cash equivalents in the Group's balance sheet consists of cash at bank and on deposit with an original maturity of Ihree monlhs or less. Contingent Liabilities A contingent liability is recognised for a possible obligation. for which it is nol yel confirmed that a present obligation exists that could lead to an outflow of resources,. or for a present obligation that does not meet the definitions of a provision or a liability as it is not probable that an oufflow of resources will be required lo settle the obligation or when a sufficiently reliable estimate of the amount cannot be made. A contingent liability exists on grant repayment which is dependent on the disposal of related property. Reserves Income received, and expenditure incurred, for restricted purposes is separately accounted for as reslricted funds. Restricted funds arise from either the conditions of the legacy or donation. Realised and unrealised gains and losses on assets held as restricted funds are also allocated to the restricted fund. Unrestricted reserves are accounted for under the income and expenditure reserves. Leased Assets: Lessee Where assets are financed by leasing agreements thal give rights lo the Group approximating to ownership (finance leases}, the assets are treated as if Ihey has been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to profit or loss over the shorter of eslimaled useful economic life and the temi of the lease. Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to profit or loss over the term of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments oulslanding. The capilal part reduces the amounts payable to the lessor. All other leases are treated as operating leases. Their annual rentals are charged to profit or loss on a slraight line basis over the term of the lease. Lease incentives re￿iVed are recognized over the temi of the lease as an integral part of the total lease expense. 41 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 3. JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY In preparing these financial statements, key judgements have been made in respect of the following-. whether there are indicators of impaimient of the Group's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected fulure financial performance of the asset. the anlicipated costs to complete a development scheme are based on anticipated construction cost, effective rate of interest on loans during the construction period, legal and other costs. Based on the costs to complete, the recoverability of the cost of properties developed for outright sale andlor land held for sale is considered. This judgement is also based on the best estimate of sales value laking on board Ihe economic conditions within the area of development., Ihe appropriate allocation of costs relating to shared ownership between current and fixed assets., the appropriate allocation of depreciation as highlighted in the policy on page 36, the group do not depreciate shared ownership properties. the categorisalion of housing properties as investment properties or property, plant and equipment based on the use of the assel., Ihe categorisation of leases as operaling, or finance leases based on the risk and rewards of ownership of the asset over the economic life of the asset, such as for the key Southampton scheme where the assessment shows that the risks and rewards are predominately with Ihe lessor over Ihe economic life of the site and it is accordingly accounted for as an operating lease. Going concern and viability as highlighted on page 17. Other Key Sources of Estimation Uncertainty Tangible Fixed Assels including shared ownership properties (see Note 15) are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market condtiions. the remaining life of the asset and projected disposal values. For housing property assets, the assels are broken down into componenls based on management's assessment of the properties. Individual useful economic lives are assigned lo these components. Investments (see Note 21).. The most critical estimates, assumptions and judgemenls relate to the determination of carrying value of investments which are detemiined using the values provided by Waverton Investment Management., Debtors (see Nole 201= The estimate for receivables involves an assessment of recoverability of the balances outstanding at the year end, including a review of the age profile of the debt, historic collection rates and the class of debt- Investment properties (see Note 171: Inveslment properties are valued annually using yield methodology. This requires the use of market rental values capitalised at a market capitalisation rate. There is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the markel ilself. Key input into the valuation are the rent receivable, net inilial yield and location I condition of the property. Onerous lease (see Nole 24).. During FY24, the charily identified a contract for the lease of office space that has become onerous due to a significant decrease in the need for office Spa￿ as a result of increased remote W0￿1ng. 42 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 4. Particulars of turnover operating costs and operating surplus- Group and Society Cost of Sales 2025 £'thJo Operating Ideficitl I surplus 2025 £,0￿} Turnover 2025 Operating costs 2025 Note Social housing lettings Care Homes Activities other than Social Housing Activities Affordable rent Ilndependent Living) and other Property Sales Membership activity International activity Other Donations and legacies Total 12,407 29,382 116,6661 134,2641 14,2591 14,8821 1.959 11,8721 87 123 12621 11391 1131 1131 430 18,7761 441 44,312 153.0881 Cost of Sales 2024 £'ooo Operating Turnover 2024 £'(x)o 12,768 30,153 OperatinÉ costs 2024 £'ooo 120,6281 142,4501 / surplus 2024 £'o(x) 17,8601 112,2971 Note Social housing lettings Care Homes Activities other than Social Housing Artivities Affordable rent Ilndependent Living) and other Property Sales Membership activity International activity Other Donations and legacies Total 4.858 1.074 553 14,2971 561 213 23 1211 18611 15301 1301 1,286 50,702 11451 168,0801 1,141 118,2391 18611 43 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 5. INCOME AND EXPENDITURE FROM SOCIAL HOUSING LETTINGS- GROUP AND SOCIETY Supported Housing E'ooo Total T()tal Care 2025 2024 £'ooo Inttsmè Rent5 net of identifiable service charge5 Service charge income Grant amortisation 29,247 3,347 9,060 32,594 9,060 135 33,276 9,519 126 135 Turnover from social housing lettings 29,382 12,407 41,789 42,921 Expenditure Management Service charge cost5 Charges for support 5ervice5 Routine maintenance 111,3881 13,8321 18,8241 115,2201 18,8241 119,0711 13,7001 19701 14381 115,2851 19,3061 125,0371 12,5691 16661 12671 17,0871 1851 12,5261 12491 119,0711 14241 16261 11751 13,2761 13441 12631 Major repairs expenditure Bad debts Impairment (Housing Properties) Accelerated depreciation Depreciation IHousing Properties) Depreciation Iother Fixed Assets) Abortive Costs 1481 19081 12611 1451 11,3101 11351 1931 12,2181 13961 Operating expenditure on social housing lettings 132,9011 118,0291 150.9301 163,0781 Operatin8 Ideficitl on social housing lettin8s 13,5191 15.6221 19,1411 120,1571 Void losses 14,2571 11,2601 15,5171 18,7321 6. UNITS OF HOUSING STOCK- GROUP AND SOCIETY 2025 Total 496 491 282 1,269 2024 Total 898 518 292 1,708 Supported Housing Re5identi31 care home bed spaces Affordable Rent Total Owned and Dirertly Managed accommodation Unit5 owned by the Society but managed by others Non Housing Stock (Restaurants and Commercial units) Total Commercial and Indirectly Managed accommodation 104 22 126 105 22 127 Total units owned and managed 1,395 1,835 The reduction in units owned and managed in the year relates to property disposals completed as part of the ongoing sustainabilitv projert. The reduction in units owned but managed by others was a result of the decornrnissioning of l unit. 44 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 7. OPERATING DEFICIT Group 2025 £'ooo Group 2024 £'ooo Sotlety 2025 £'ooo Society 2024 £'ooo The operating deficit is arrived at after charging.. Depreciation of housing properties.. charge for the year Depreciation of market let properties.. charge for the year Depreciation of other fixed assets- tangible and intangible Accelerated depreciation of housing properties Accelerated depreciation of market let properties Impairment (Housing Properties) Operating lease charges Audit()rs' remuneration.. Group accounts Subsidiaries other audit related assurance tax advice 1,919 299 396 93 2,021 505 249 93 1,919 299 396 93 2,021 505 249 93 7,087 817 7,087 817 858 858 75 95 li 75 95 li 13 13 8. EMPLOYEES All employees for the Group are employed through the Society, therefore the costs and employee numbers are the same for the group and the society. 8.1 Employee Costs Group 2025 £'ocN) Group 2024 £'ooo Staff costs lincluding Executive Management Team) consist of.. Wages and salaries Social Security costs Cost of defined contribution scheme Total 24.397 2.027 821 26,907 2,045 905 27.245 29,857 8.2 Employeè numbèrs The average number of employees including part time staff is shown as headcount. The Full Time Equivalents IFTE'SI, calculated based on a standard working week of 35 hours during the year were as follows: E'5 2025 FfE'5 2024 Headcount 2025 Headcount 2024 Administration Development Housing, Support and Care Total 97 96 122 640 762 789 1.098 1.221 738 859 890 45 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 9. Board and executive remuneration None of the members of the Board received any emoluments12024.. £nill. Board expenses for the year are £3k12024.. £6kl. Group and Society 2025 £'ooo 677 80 Group and Societv 2024 £'ooo 811 102 39 Executive emoluments Employer Nl Contributions to money purchase pension schemes Total 791 952 The total amount payable to the Chief Executive post, who was also the highest paid director, in respect of emoluments was £207k12024.. £191kl. Employer pension contributions totalling £8k were made during the year for a defined contribution scheme which is open to all empltsyees. The remuneration paid to staff (including the Executive Management Team) earning over £60,000.. Group 2025 Group 2024 Society 2025 Society 2024 number number number number £60,001 - £70,000 12 12 £70,001- £80.000 £80,001- £90,000 £90,001- £100,000 £110,001- £120,000 £130.001- £140,000 £140,001- £150,000 £190,001- £200,0(xI £200.001- £210,00 10. BOARD AND COMMIThEE MEMBERS Audit and Risk Commlttee Finance & Investment Commlttee Boardlcommittee Member David Carr Martin Cox Terri Pettifer-Eagles Sara Beamand Roger Lees George Ashworth Mike Turner Dena Patel Marc Marrero Group Board People Commlttee Customer Commlttee 46 The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 11. SURPLUS ON DISPOSAL OF FIXED ASSETS- GROUP AND SOCIETY 2025 £'o(y) 22,341 113,3071 5,305 12371 13,2401 10,862 2024 £'ooo 6,536 14,1591 1,252 11581 11,6151 1,856 Disposal proceeds Net book value Impairtnent reversed at sale Selling costs Grant recycled 12. INTEREST RECEIVABLE AND INCOME FROM INVESTMENTS- GROUP AND SOCIETY 2025 £'oc 2024 £'ooo Interest on loans to member societies Bank and Investment Interest Total 17 515 532 746 751 13. INTEREST PAYABLE AND SIMILAR CHARGES- GROUP AND SOCIETY 2025 2024 £'ooo Bank charges and fees Rerycled capital grant fund Total iii 90 173 199 289 14. TAXATION There was no tax charge for the year (2024.. £nill as the Society's activilies are charitable in nature. 47 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 15. HOUSING PROPERTIES- GROUP Care, Housing and Independent Living under construction Care Housing and Independent Living completed £'ooo Shared Ownership completed £'ooo Total £'ooo £'ooo Cost.. As at 31 March 2024 Additions.. Construction Costs Replaced components Transfer to current assets Component disposal Closed property disposal Construction assets etsmpleted during the year 146.101 9.838 793 156.732 2,863 15,4771 19721 116,5351 2,863 15,4771 19721 116.5351 As at 31 March 2025 125,980 9.838 793 136.611 Depreciation: As at 31 March 2024 Charge for the year Eliminated on disposals.. components Eliminated on disposals.. other 24,095 2.331 1251 13,7891 24.095 2,331 1251 13,7891 As at 31 March 2025 22.612 22.612 Impalrment- As at 31 March 2024 Charge for the year Reversed prior year impairment Released in the year at sale Adjustment to PY As at 31 March 2025 13,633 9.838 23.471 13,5691 13,5691 10,064 9.838 19,902 Net book value at 31 March 2025 93,304 793 94.097 Net book value at 31 March 2024 108.373 793 109,166 48 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 15. HOUSING PROPERTIES- SOCIETY Care, Housing and Independent Living under construction £'ooo Care Housing and Independent Living completed £'ooo Shared Ownership completed £'ooo Total £'ooo Cost.. As at 31 March 2024 Additions.. Construction Costs Transfer to current 3sset5 Replaced Components Component disposal Closed property disposal Construction assets c(>mpleted during the year 147.381 9.838 793 158.012 15,4771 2,863 19721 116,5351 15,4771 2,863 19721 116,5351 As at 31 March 2025 127,260 9,838 793 137,891 Depreciation: As at 31 March 2024 24,095 24,095 Charge for the year Eliminated on disposals.. components Eliminated on disposals.. other 2,331 1251 13,7891 2,331 1251 13,7891 As at 31 March 2025 22.612 22,612 Impairment: As at 31 March 2024 Charge for the year Reversed prior year impairment Released in the year at sale As at 31 March 2025 13,633 9.838 23,471 13,S691 10,064 13,S691 19,902 9,838 Net book value at 31 March 2025 94,584 793 95,377 Net book value at 31 March 2024 109,653 793 110,446 49 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 15. HOUSING PROPERTIES- FURTHER ANALYSES Freehold vs Leasehold Soclety 2025 Society 2024 £'ooo £'ooo Freehold Long leasehold Total 98,511 2,342 100.853 107,933 2,513 110,446 Major Works Society 2025 £'ooo 2,862 2,862 Society 2024 £'o(xJ 4,163 4,163 Improvements to existing properties capitalised Total Capital Grants- Housing Properties Grants in Reserves Society 2025 £,0￿) Societv 2024 £'ooo Capital grant- Housing Properties in Reserve5 Capital £rant- Housing Properties in reserves Capital grant- Housing Properties in creditors Recycled Cèpital Grant Fund Total 18,943 17,331 7,485 43,759 23,616 17,457 5.729 46,802 Property with a book value of £17.6m was pledged as security at 31 March 202512024.. £17.6m}- The bank revaluation exercise completed as al the year end date reported total security value of £21 m. The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 16. OTHER FIXED ASSETS, TANGIBLE AND INTANGIBLE- GROUP AND SOCIETY Computer and other office equipment £'otxJ Fixture5, fittings and furniture £'ooo Total £'ooo Cost.. As at 31 March 2024 1.643 Additions Disposals As at 31 March 2025 139 139 1221 1,760 1,757 Depreciation: As at 31 March 2024 575 577 Charge for the year Disp05als As at 31 March 2025 392 1191 393 1191 951 Net book value at 31 March 2025 809 Net book value at 31 March 2024 1,065 1,066 Included in Ihe Olher Fixed Assets net book value as at 31 March 2025 are intangible assets of £448k {2024'. £334k} representing software costs. 17. INVESTMENT PROPERTIES Group and Society Market rent £'ooo Cost.. As at l April 2024 Revaluation 880 At 31 Marth 2025 880 The valuations were undertaken by Savills LLP as at 31 March 2023 in accordance with the RICS Valualion Global Standards 2017 and the RICS Valuation - Professional Standards 2014. In valuing investment properties an investment method of valuation was used. Details of the assumptions made and the key sources of estimation uncertainty are given in Note 3. 51 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 17. INVESTMENT PROPERTIES (continued) If investment propety had been accounted for under the historic cost accounting rules the properties would have been measured as follows Group and Society 2025 £'ooo Group and Society 2024 £'ooo Cost.. Historic cost Accurmulated Depreciation At 31 March 2025 591 11541 437 591 11491 442 18. INVESTMENTS Country of incorporation or re8lStration Voting rights % held Nominal value of the shares held Nature of Nominal value of the business share held Subsidiary Undertakin8S Incorporated company. limited bv shares Abbeyfield Properties Limited England loo% £1 Design-and-build The Abbeyfield Research Foundation Inc()rporated company, limited bv guarantee Fundraising and grant making England loo% Incorporated company, limited bv guarantee Pebblemist Limited England loo% Dormant All above Subsidiary undertakings are registered at The Abbeyfield Society, 17-19 Hampton Lane, Solihull, B91 2QJ. 52 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 19A. PROPERTIES FOR SALE - GROUP Closed properties held for sale Developed units £'ooo 2025 Total £'ooo 8,112 2024 Total £'ooo 2,337 380 18581 1,859 Completed properties- developed and closed Completed propertie5- acquired Properties sold Total 8.112 8.112 8,112 19B. PROPERTIES FOR SALE- SOCIETY Closed properties held for sale Developed units 2025 Total £'ooo 8,112 2024 Total £'(xJo 2,372 380 18581 1,894 Completed properties- developed and closed Completed properties- acquired Properties sold Total 8.112 8.112 8,112 Properties developed for sale do not include capitalised interest. 20. DEBTORS- GROUP AND SOCIETY Group 2025 £'ooo Group 2024 £'i)00 Society 2025 Societv 2024 £'ooo Due within one year Rent and service charge arrears Less.. Provision for doubtful debts 2,234 15451 1,689 2,316 14671 1,849 71 141 1,691 3,752 2.234 15451 1,689 2,316 14671 1,849 71 465 1,690 4,075 Abbeyfield member societies Other debtor5 Prepayments and accrued income Total 21 1,366 3,076 21 1.562 3,272 Due after one year Due from Abbeyfield member societies 232 232 53 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 21. CURRENT ASSET INVESTMENTS- GROUP AND SOCIETY 2025 £'ocN) 394 2024 £'ooo 356 Opening fair value Additions Fair Value Adjustment Disposals Closing fair value 394 All current assel investments related to shares held in listed companies which were traded on a regular basis. The investments, which were managed by Waverton Investment Management and had an original cost of inveslment of £307k. 18 14121 38 22. CREDITORS: FALLING DUE WITHIN ONE YEAR- GROUP AND SOCIETY Group 2025 Group 2024 Society 2025 Society 2024 £'ooo £'ooo £'ooo £'ooo Trade creditors 1,261 695 1,167 521 1,261 695 1,167 521 Taxation and social security Other creditors 175 778 237 524 Deferred capital grant (note 251 Recycled Capital Grant Fund (note 261 Accruals and deferred income 135 126 135 126 2,243 6,453 2,505 7,277 2,243 6,261 183 2,505 7,554 159 Amount owed to group undertakings Onerous Lease Provision 400 400 400 400 Total 11.362 12,774 11.415 12,956 23. CREDITORS: FALLING DUE A￿ER ONE YEAR- GROUP AND SOCIETY Group 2025 Group 2024 Society 2025 Society 2024 £'ooo £'ooo £'ooo £'ooo Deferred capital grant (note 251 Recycled Capital Grant Fund (note 261 Other creditor5 17,186 17,331 3,224 318 17,186 5,242 446 17,331 3,224 318 5,242 446 Total 22.874 20,873 22,874 20,873 The Group has an £8 million overdraft facility with Barclays Bank. The facility is secured by charges on certain housing and care properties ofthe Group, as disclosed in Notes 15 and 18. The overdraft is available but undrawn at year end. The Abbeyfield Society I Company No. 574816 | Annual Report and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 24. ONEROUS CONTRACTS- GROUP AND SOCIETY During the prior year the Society identified a contract for the lease of office space that had become onerous due to a significant reduction in the need for office space as a result of increased remote working. The provision for this onerous contract for the current year has been calculated as follows.. Description of the contract.. Lease of office space at St Peters House, Bricket Road, St Albans, Herts, AL13JW Reason for Provision= Reduced need for Offi￿ space due lo remote working Total Provision.. £1.2m Calculation Basis.. The provision represents the unavoidable costs of the lease contract, less any expected sublease income. Expected Settlement Date.. The provision is expected to be settled over the remaining lease term of 3 years. Within note 22 £400k is shown as due within 1 year with the balance of £800k being shown as due after 1 year but within 5 years. 25. DEFERRED CAPITAL GRANT- GROUP AND SOCIETY 2025 2024 £'o £'ooo At 31 March 2024 17.456 16,661 921 Grants recycled from the recycled grant fund Released to income during the year Total 11351 17,321 11261 17,456 26. RECYCLED CAPITAL GRANT- GROUP AND SOCIETY Capital grant: relating to development aclivities funded by HCA 2025 £'ooo 3,979 GLA 2025 £,(￿0 1.750 Total 2025 £'ooo 5,729 HCA 2024 £'ooo 3,214 GLI 2024 £'ooo 2,493 Total 2024 £'ooo 5,707 At 31 March 2024 InpLJts to fund.. Grants recycled from reserves at point of sale Transfer to deferred grant Interest accrued Repayment to GLA Tax rebate At 31 March 2025 2,960 366 3,326 1.562 19211 124 53 1,615 19211 199 18711 126 47 11.7431 173 11.7431 75 18711 7,065 420 7,48S 3,979 1,750 5.729 Included in creditor5.' amounts due within one year Included in creditor5.' amo(Jnts due 2,243 2,243 1,697 2,505 after more than one year 4,822 420 5,242 3,171 53 3.224 At 31 Marth 2025 7,065 420 7,485 3,979 1.750 5.729 55 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 27. FAIR VALUE OF NET CURRENT ASSETS- GROUP AND SOCIETY 2025 £'ooo 2024 £'ooo Flnanclal assets Financial assets measured at fair value: Investments Financial assets measured at historic cost: Trade receivables Other receivables Cash and cash equivalents Total financial assets 394 2.234 2,316 1,668 12,564 16,942 25,698 28,774 Financial liabilities Financial liabilities measured at historic COSt: Trade creditors Other creditors Total financial liabilities 11,2611 18,1691 18,2341 11,1671 19,1021 110,2691 For cash and cash equivalents, short term deposits, current receivablés, current payablés and loans payable, the carrying amounts approximate fair value, because of the short maturity of these instruments, and therefore fair value information is not included in the table above. 28. OPERATING LEASES- GROUP AND SOCIETY The Group and the Society had minimum property lease payments under non-cancellable operaling leases as set out below.. 2025 £,￿0 2024 £'ooo Amounts payable as lessee: Within one year After one year but within five year5 After five year5 Total 966 858 3,732 17,614 22,312 3,430 17,216 21,504 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

NOTES TO THE FINANCIAL STATEMENTS (continued) 29. CAPITAL COMMITMENTS- GROUP AND SOCIETY 2025 £'ooo 2024 £'ooo Commitments contracted but not provided for.. Major Works Construction Experience Programme 961 66 113 Commitments approved by the Board but not provided for: Major Works Construction 528 Experience Programme Total 1,027 641 Capital commitments for the Group and Society will be funded as follows.. Social Housing Grant Sales of properties Donations 1,027 1,027 641 Total 641 30. RELATED PARTY DISCLOSURES Total charges received from Abbeyfield Properties Limited I"APL") for design-and-build fees amount to £144k {2024.' £195k) that includes 5 % mark up by APL. The costs relating to the design-and-build invoices from the contractors amount to £137k (2024: £186k}. APL made no charitable donation to The Society during the year (2024.. £nil). No grant12024'. £nill was made to Abbeyfield Research Foundation {"ARF"} by the Society during the year. During the year costs of £262k12024.' £673kl were incurred as part of the sociely's support for member societies. This includes a nominal allocation of central costs of £50k for Marketing, PR, Development and Accounting support. (2024.. £255k). In 2025 the below referenced related party relationships existed. Value of transactions Name M. Cox Relationship Board Member Spouse £5,816 57 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

IEnd of Reportl The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025

The Abbeyfield Lmng Society Trading as.. Abbwfiekl Ltving Society 17-19 Hampton Lane Sdihull B912QT Registered Charity: 200719 Company No.. 574816 Regulator of Social Housing No.: H1046 Care Qualty Commission No.". 1-102642859 www.abbeyfieldliving.org.uk The Abbeyfield Society | Company No. 574816 | Annual Rq)ort and Accounts | 31 March 2025 59 The Abbeyfield Society I Company No. 574816 | Annual Repcirt and Accounts 131 March 2025