Registered number: 631694 Charfty number: 203245 THE ABBEYFIELD OXFORD SOCIETY LIMITED (A company Ilmlted by guarantse) UNAUDrrED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A company Ilmlted by guarnntee) CONTENTS Page RotsrOn and admlnlstratlve detalls olth• Comp•ny. Its Trust0 and advh•r• TNst••8' r•port Indopond•nl •xamln•¢¥ rnport Statem•nl of Ilnandal •dlvttl•• B•l•nc• $h••t 10-11 Not8¥ to th• financlal statem•nts 12-20
THE ABBEYFIELD OXFORD SOCIEfY LIMrrED (A Company Ilmlted by guardnt•o) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Tru09$ Chris Fumess, Ch8lmian Tim Lambertstock. Treasurer Robert Oldham ArHJr8w Sklnner Mrs Ellzabeth Parker Ms Hazel Catto11 Ireslgned 23 November 2021) Mrs Jean Robert lappoinled 23 November 20211 Ms Brhtany Magulre (appointed 22 March 20221 Company r•gl*t•r•d numb•r 631694 Charfty r•glsl•r•d numb•r 203245 R•gl8t•r•d ¢iffl Brlan LOV8 Hou88. 80 Salnt Cbmonts Strggt. OXI. Oxon, OX4 1AW Ac¢¢)unl•nt• KBDR, The Old Tannery, Hen81ngton Road, Woodstock. Oxon. OX20 1JL Pag8 1
THE ABBEYFIELD OXFORD SOCIEfY LIMITED IA ¢ompany Ilmltod by guarant8el TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 The Trustees present their annual report t(>Jether with the financial statements of The AbbeOId Oxford SocS8ty Llmiled for the year 1 October 2021 to 30 September 2022. The Annual report serves the purposes of both a Trustees. repcKt and a directors, report under company law. The Trustees confirm that the Annual report and flnanclal statements of the charltable company comply the current statutory requirements, the requiremants of the ¢hark8ble compan¥s goveming d(ment and the provlsions of the Statement of Recommended Pradc8 ISORP) applicable to charities preparing their accounts in accordance with the Flnandal Reporting Stsndard applicable in the UK and Republic of Ireland IFRS102118ffedv8 1 January 20191. Slnce the Company qualthes as small under Section 382 of the Companies Ad 2006, the Strategic r8port required of medium and large companies under Ihe Componie8 Act 2006 IStrat8glc Rèport and Directors. Roportl Regijlations 2013 has beèn Omted. ObJ•ctlves and athitl a. Pollch# and obhth In setting objectiv8s and annIng for aclMlle8, th6 Trustses have glven due consklerallon to general guldance publish8d by tha Charity Commission r8lab.ng to public benef( including Ihe guidance 'Publlc beneflt.. runnlng a chartty IPB21'. Jr obledve 1$ to provide a safe, r)mfortabl6 and 8upporbve hryne for our reskjents. all over 55 and most conslderably older. We r8gulaty revlfjw our polides and they fomi the ba8L8 for what we do, the way wo doll and how we achieve our objgthes through our 81aff. b. StrnI•gl for achl•vlng obl•ctlv Our $lr8te9y for achievlng our oblective8 18 to own arKI malntaSn a nVenIentlY located property - Brian Lewls Hou8e- in wh1( we let rooms lo our residents and centrally provKle all m881s. dalme staffing 8nd o commun which all¢)ws for independence whilst also provKling tho opP)nity for soclal di8cour88 and for 8hared mealtSmes. Actlvltles undertaken to achl•v• obJ•ctlv Our main actmties relate lo the prov5slon of IndMdu81 rooms for our residents, centrally provlded meals and $¢xial activth'os to supwrt our residents. This invofvgs employing stsff. bun9 food and other supplies and maintaining the fabric and facilities of the lIdIng. This includ6s maintainiThJ a high standard of cleanllness, sefety and conventenco appropriate for our resKlents. d. Maln actlvltlos und•rtaknn to fUrtr Iho Compan3 purpose¥ for the public b•n•fft In providing affordable accommodation wilh meals in a safe arml pleasant enwronment but wlth a degree of independence. we tske avrdy th8 need for our resvjents to maintain their own homes, avoid undue pressure on the care sector as well as relea5iThJ valualAe 1jS1rMj st( to famil. Page 2
THE ABBEYFIELD OXFORD SOCIETY LIMITED IA company 11ml1 by guarantso) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achl•v•m•nts and yrfornlw . Maln achlovomonts of th• Company . Exècutlve Commlttw Roport Th1$ report covers the 12 months from 1st Octotw 2021 to 30th Septombgr 2022, although some mor8 recent developmgnts may b8 included. Our Socloty The Slet$ maln aim and purpose is to prowde a pleasant and 8upportiv8 home for up to 11 older residents. The Society is independent and run as a charity by trusleas under tho natnal At)beyTreld name and adhering lo the pnnciples of that national organisat60n. Our residents, all over 55 and mOsY in their 80$ and 90s, benefit from the Communal comfort and securty offered by 8rian Lw418 Hous8 wrth meals provid and their ITng accommodation maintained and haalad. 01101 r68sonable rent. The key elements include safety, and an expedencod slaff who are on hand (lurlng the day lo asslsl as well as to prowde the meals and keep tha house runnlThJ smoothly. The key elem8nl of our Houso 1$ Independent ng, wth our residenls b9ing supported as already ouulned bLtI In a context of belng able to enjoy the freedoms and choices that nger people would expect In thèir everyday Some pr8fer a quietsr and morg rgstful Irfo 11$1 othern enfv mu8k. aeadémic dlxus¥lons, holiday? ond sIts away. or sometimes foreign travel. Al of these are Indi¥idual I1C8¥. Wo do not provlde care bul r881dents can buy in such additional support rf needed. Supporting resldents and the Soc4ety are the trustees and volunteers vhKJ Interact wlth residents and have taken sm811 groups lo Ioc81 cultur81 evènts or arranged musical events or tslks. The residents also sometime$ organise activities such as talks, poety readiws and muskal events. The regular monlhty coffee momlngs brfng residents. trustees and voluntoers together, sometimes t*th music but avaY8 with good convgrsation. Staff Resldents tell us how much they appreciate the work of the slaff and their caring atbtude and llingeSS to help. We are gratefrjl to our House Manager for her leadershlp and care for residents over Ihg last year, we thank our Administration Officer for her efficient and thwhtful approath to her work and we especi811y thank the whole staff team who have worked tirelessly aTrJ cheerfulty, wllhout exception. to mako our Society the ffiendly, supportive and effective Imng environment h has been over thg last fv48lve months. Our Stsff were In the front Ilne against Covb>19 and those or similar tha[nge5 seem afvmys to b8 pro$onl. Our stsff 8re at the cant of our work and are exwtional. Op8ration$ and Management We conlinue to work nalional Abboyfidd pdicie8, adapt8d as rSSary for our own circumstancas. We have been assessed for the Abbeyfield Qualty Stsndard IAQS) and have achieved the standards required in full. The point of the Stsndard Is lo ensure that every element of our is fulty compliant with all national and local regUlaOnS and that we a wofking effiaently and in line wth be51 practice. The accounts show that the Souaty has strong finances. thanks to the offort8 of our trustees and of the management team. As a not-for-FKofft organisation. we aim to keep our residential charges as modest as possible. However, to keep those charges at that level, must have minimal room vacancies and also ensure that we keep our cosL8 in line effeth.ve practs arxl that we keep them under constant review. Our strong financial tx)sition meant thal there was Th) irKrease in during thi5 financial year and only Ireased by 5% Page 3
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A company Ilmlted by guarnnto•) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 Achlw•m•nts and rtoMnCe {contkbu•d) from 1 October 2022. We also need lo malntaln good flnanclal reserves because Brian Lev•iS House is an older buildlng in a conservatlon area which will sometimes require expensfve repairs. In recent years. the house has been 6ubslanUally refuthshed extsmally a new roof and paintlng. Intemalty. we hav8 carrt8d out many works to keep OLsr fira precautions updalod. installed new kitd)en fac1188 and hava also Just completsd a complete rebuild of the Irft as well as further minor but essential works. Rosldents During the past yoar we refvrbishgd rooms as usual when vacanci8s ocojrred. Some of the new enquSrles about accommodation come from Abbefftld's naoal reputatlon and vl8iblllty but many arise through local contacts, limited I(al advertising and word-of-mouth. We continue lo kaep a rogisler of polentsal new residents that we can contact in case of a vacancy. The most nomial reason for 8 resident lo move on is that they need full-tsmè professional care bacaus8 w8 cannot providg this (though we do p8mil residents lo have small 8mcMJnts ol care from 8ttlng domldliary thers). For the y8ar undor rovlew we had an average of lust over on8 empty room. Whan now r8sld8nts 8ra Identlflgd. wa prgfor that they have an Inlllal short tri81 slay vthith provhdes tha opportunlty for them lo make sure as far as posslble that they are going to enjoy Imng al Brian Lews House. This less8ns the risk that they wll go lo the upheaval ol moving here on a pem8n8nl 813 onty to fwKI that it is not lo their taste. Tru•tM •nd oth•r volunt••r• During the y8ar we had a $tablg core group of trustees bul were very pleased lo walcome kn n8w Trustees - Jean Rob8rt {who has bggn a lonUme v(4unleer) and Brittany M8gulre who tth bring valuable perspectives. Together. the Trustees fomi the Executive Committee Nvhith meets six timos per year. The purposo of the Committee Is lo set the policy and direction of the Soo'ety and to monitor the achievement of objectives and make any necessary adjustments. Each Iruslee has a specrfic area of responsibility. We eonllnue lo a Small p(1 of other vdunteers In areas 8uch as soclal support and befrlending for residgnls. and IT support for th stsff and resldents. Wè thank all of them for thoir 9oodvlll and thelr fjme but we are always looking for more volunteer8 to expand what we can offer to our rgsidents. The Challenys of the Last Y•ar For our residents who hov8 had to endure la160n. a lack of vlsitors and inabilty to See relative8 and friends, Ilmited access lo fresh air 8fMJ exercise an(J rnony other restrictions, 11 has been a tough time. Thankfully, both we and Ihe county as a ole have moved on that posib.on but il is probably foir to say that many aspects of lrfe in the UK have not completely relumed to pre-CcNid normality. Increased utillty and food prfces have also presented 8 challengo but V•* have managed io shield wr reshlents from most of the effect of these. Plannlng for Future Challeng•s The Trustses have a responsibility to protect our resldents by providing safe accommodation for many years lo m9. In the pasl have remewed the usefulness ar suitabilty of Brian Lews House and. whilst we need to cxjntinue lo ensure that it remains the most suitable place for our Socièty and its r8sid8nts, w8 ara quite clear that this House is our best location and that tt wll be the home for the Souaty into the foreseeable fuiure. Many thlngs VAII face us and not least. an irasing appearance of nalonal regulation. Because of our status as an independenl, non-care gmng charty under the Abbeyrd umbrella. we are not subject to the detailed national regulation that affects care homes but Ihe Social HousirYJ Regulator does require regular information and Abbeield England {as the national sooyety is now called) is likely to also impose some more detailed oversight on all independent 50uelies. We ar8 keepirwJ a Ck eya on such dévelopments. Page 4
THE ABBEYFIELD OXFORD WCIEfY LIMrrED IA Company limitod by guarants•) TRUSTEES. REPORT {CONTINUEO} FOR THE YEAR ENDED 30 SEPTEMBER 2022 hlov•m•nts and wrfomlancg {conllnu•d) b. Investm•nt polky and p•rfornianc• The Trusle&s made a dls)n durlng the year to fcus invostrnents on catal grovrth rathér than income. Thls has affected our income compared to prevlous )pars tmrt means that we are not uslng past Investmgnls to sub$ldiso current axpgnditure. Flnanclal rovlew •. Golng conc•rn Aftgr making approprtate enquiries, tho Trte88 have 8 reasonabl8 expectati( that the Ccrfnpany has adaquata resources to continue in operational existencè for the foreseeable fvture. For this reason, th&y continua to adopt the going concem basis in preparing the finanaal statements. Furthèr detsils regarding the adoption of the going concem basls can be found In tha accounting w)lic. b. Valu• lor Mon•y Valuo for money means belng effective In planning and then managing and op8raling the Soclaty. The aim 18 lo mak8 tho best usa of ra8ourc•s vthi18t wovhjlng ho8 whlth maintsln and improve the quallty of life of residents. Followng the i¥sug In Apdl 2018 of Techn1 NLrte ty th8 Regulator of Soc181 Houslng, the Socl8ty now reports on the 7-melric ¢>)vered by Ihe technical note. The ureS in bra¢ke15 al the end of each metric act as a comparator and represent those of the Abwefd Sothty (TASI nationalty Houslng As80ciatlon number H1046. Metrlc 1- R•lnv•slm•nt % The relnv8Stmenl metrtc looks at the investment in properties18xistiry stock and supply) as a percèntagg of the value of total propertles ld. There has teen no development of property In the year th axpendllure focused on maintalning 8880ts. The relnvethont metrlc therefore 0% (TAS.. 3.40%). M•trf¢ 2- New supply d•lfv•r•d% Thera have been no new unlts created.. this metrK Is th8roforo 0% ffAS: 0%) M•trfc 3 - Gearfng % This metrlc represents nel debt as a porcenlage of the value of prryerties held. As the Society does not have any108ns this metric does not apply (TAS.. 16.20%). M•trlc 4 - Eamlngs bOre InternsL Ta4 D¢pr¢clatian, Amortlsation, Major R•p•lrn In¢lud•d IEBrrDA MRI) Int•rn8t Cover % As mentioned in Metric 3 above, the Sc*lety do88 not have debt and therefore this motric does not apply ITAS:_3,409%}. Motrlc 5- Hd]I soclal houslng Cost per unlt This metric represents the total social housing costs (as defined by the regulator) diwded by the total units owned and has been calculated as £20,174 (TAS.. £25,757). Tha c&)sts for the Society were larger than usual in the year Page 5
THE ABBEYFIELD OXFORD SOCIEfY LIMITED IA company Ilmlted by guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022 under du8 lo a capitslised major repair. Metrlc 6- Oporallng Margln % The operallng margln of tha chathy is-14.92% (TAS:_g.%). Motrlc 7 - R•tum on capltsl •mploy•d {ROCE) % This moric compares th8 overall operat5ng surKAus to total a888t8 kn8 rrent liabllitiès. -1.72%. (TAS.. -2.W%I. Compared wlth m¢)dest inccffie. the nerts from hlgh eaytsl bgcau88 of hlstoric endowments. b. R•sor¥ poll It is the pollcy of The Abweld Oxlord SOcty Llmtted to malntaSn 8 good financial reserves to enable the Brian LewS8 House to be maintained lo a high levol. StruGtur• gov•m•nc• #nd manag•m•nt . Con•lltutlon The Abbeyfiekl Oxford Swoty Llmltad 18 rggistered as a tharllable company limited by guarantee and was set up by a M8morandum of As80cialion. b. M•thod• of appolnlm•nt or •loctlon of Tru•tw• The managernenl of the Company Is the ro6p)nslblllty ol tha Tru8tee8 vtho arn elected 8nd COwOPted under the terms of the Memorandum of Associalicffl. Page 6
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A ¢ompany Ilmlted by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2022 Stat•m•nt of Trust•. rn8ponslbllltl•s The Trustees {vtho are also the dir8dors of the Company for Iho purpos8s of ccmp8ny law) are responslble for preparfng the TnJstee5' rewt and the flnanclal statements In accordance wlth applicablg and United Kingdom Aco)unting Standards Iunlted lfjngdom Genef81ty pIed Accounting Prath'cel. Company law requlres tho Trustees to praparg flnandal stateménts for 88ch flnandal year. Under company law. the Trustees must not approve the finan¢k41 statements unless they are satisfied that they giv8 a true and fair vS8w of the state of affalrs of the Company and of rts incoming resources and application of rèsources, including s income and expenditure. for that perlc#J. In preparing these financial stalgmenls, the Twsle8s are requirod to.. sèlect suitsble aco)unting wlicies and then appty them (xmslstenty. observe the methods and prlnuF488 of the Charities SORP IFRS 102). make judgments arKI accwnttng &slimates Ihal are r68s¢)nable and pnJdent'. state whether applicable UK Accounts'ng Stsndards IFRS 1021 have bgen followed, 8ubl8ct lo any malgrial departures disclosed and axplained in the financial stslements., preparo the financlal 5tal8ments on Ihe golng Cern basls unl838 Inapproprlate to pmsume that the Company s11 ConnUe In busines8. The Trustees are respon¥lblg for keeplThJ adequate accounlng rneords that are sufficlent to show and explaln the Companys transactions and di$¢lose with reasonable accuracy at any time the financlal posrtlon of the Company and enable th8m to ensure that the finanual ststèments comply th8 Companles Act 2006. They are also rèspon$lble for safeguarding the assets of the Company and hence for taking reasonable stsps for thg prevention arKI detectiM of fraud ond other irregularities. Approved by (Yder of the members of th8 board of Trustees ¢)n 21 Mar¢h 2023 and slgned on Ihelr bahalf by.. Chris Fume Chairman TIM Lambort8to¢k Traasurer Page 7
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A company Ilmlted by guarantse) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022 Independent 8xamln•rf¥ rnport to tho Trusloos of Th• Abboyllold Oxford Soclety Llmlt•d {Ih• Compan) I r6POrt to Iha charfty Trustees on My oxaminathjn Lrf the accounts of the Company for the year ended 30 Sgptember 2022. Respon¥lbllltles and ba¥ls of rnport As the Trustees of the Company land directors fty thé purp)ses of company lawl you are responsible for the preparation of the accounts in accordance wilh the requirements of the Companies At# 2006 Ilhe 2006 Acl'l. Having salisfted myyèw that the accounts of Ihe Company are not reoulred to be audited undor Part 16 of the 2006 Act and are èligible for independent examlnation. I rep)rt In respect of my examination of the Companys aUnts carrled out under s6clion 145 of the Charrbes Act 2011 Ilhe 2011 ACYI. In carrying out my examinallon I hav8 followed the Diredons given by th8 Charity Commissron under section 145151{b) of the 2011 Act. Ind•p•nd•nt •x•mln•f• #tat•m•nt I have Mpleted my 8xaminat4on. I confflnn that no matters have come to my attèntion In nnectiOn bwth the examinalon gIn0 ma Ca49 lo balieve.. account¢ng records were not kgpt In respect of the Company as roquired by $8ctlon 386 of the 2006 Ac(. or the accounts do Mt accord wlth th080 records.. or th8 aCUnts do r1 compty ¥Mth th8 requirements of secb'on 396 of tha 2006 Act other than any rgqulrement that tho aCCnts 9fve a Ift and falV eW whith Is not o mattér consldered a8 part of an Independent examinatlon.. or the accounts have not been propargd in accordancg wlth the m8thc#J8 and pdncoples of the Statement of Recommended Praclice for lUnting and rgporung by charitigs lappllcable to oh8ri1ies preparing their 8ccounts in accordanee the Fina1 Reporting Slandaro applicable Sn the UK and Republlc of Ireland {FRS 102)]. I have no con¢ems and have come a¢xoss no other matters in )nnectIOn wilh the examination to which ettenbon should be drawn in this report in order to ènatdo a proper underslanding of the a¢Gounts to be reachod. This raport 1$ made solety to the Company8 TTUSteas. as a body. In accordance with Part 4 of the CharStles (Accounts and Reports) Regulations 2008. My work has been undertaken so that I mNJhl stale to the CompanYs Trustees those matters l am required to stale lo them in an Independent examinerf8 rei)0rt ond for no other purpose. To the fullest extent pemitted by law. I do Tr)t accept or assume responsibility to anyone other than the Company and the CompanYs Truste88 as a body. for my or for this report. Signed.. Daled.. 21 March 2023 Lorraine Buvgr FCA The Old Tannery Hensington Road W018t0{ OX20 1JL Page 8
THE AB8EIFIELD OXFORD SOCIEfY UMITED IA Company limit•d by guarnntse) STATEMENT OF FINANCIAL ACTlVtriES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 SEPTEMBER 2022 R•strfdod Unr•strl¢tod fund# funds 2022 2022 Total funds 2022 Total funds 2021 IoM* from: Charitabl8 aCtitieS Invgstments 189,733 1,466 189,733 177.990 103.928 rotsl Sncom• 191,199 191.199 281,918 ExpondltuY• on: Charf18bla adiwlies 193.321 193.321 152,817 Total •xp•ndltur• 193,321 193,321 152,817 N•t1oXp•ndlturnVlnmO Transfer8 beh¥8an furKI8 (2.122) {26.193) 12.1221 126,193) 129, 101 (55. 767) 12 N•t movam•nt In fvnd• 128,315) 128,3151 73.334 R•con¢lllatlon of lund•: Total funds brought foThYard Nel movemgnt In fijnds 5,222 1,668.815 (28,3151 1,673.837 128,3151 1.600,503 73,334 Total fund¥ caYrl•d forwanl 5.222 1.640,300 1.645.522 1,6T3,837 The Statemgnt of flnanoal actith Indud8s all galn8 and losses recognised in th8 year. The notes on pages 12 to 20 fomi part of these finand81 statements. Page 9
THE ABBEYFIELD OXFORD SOCIETY LIMITED {A company limlted by guarante•) REGISTERED NUMBER: 631694 BALANCE SHEEr 8 AT 30 SEPTEMBER 2022 2022 202t Fix•d au•t8 Tanglblo assets 028,000 594,538 628,000 594.538 Curront Inv6stments Cash al bank and In harKI 1,016.693 14,288 991,448 99,605 1,030,981 1,091,053 Credttor8'. amounts falllng due wAthtn one year 10 113.4591 (11, 754J N•t ¢urr•nt ui•t• 1,017.522 1,079,299 Total ai••ts IM• ¢urr•nt Ilabllltl 1,645.522 1,673,837 N•t au•ts •x¢ludlng p•n•loTr as••t 1,645,522 1,673,837 Ti>tal n•t as8•t• 1,645.522 1,673,837 Charlty funds Restricted funds unrestn.cted funds 12 12 5,222 1,668.615 1.640.300 Totsl fund• 1,645,522 1,673,837 Page 10
THE ABBEYFIELD OXFORD SOCIEfY UMITED IA company Ilmlted by guarantse REGISTERED NUMBER: 631694 BALANCE SHEEf (CONTINUED) AS AT 30 SEPTEMBER 2022 The Company was entitled to exèrnplion from audit under sgclicm 477 of the Compani88 Act 2006. The mémbers have not requir9d the company to obtain en audlt for the in question in accordance wrth section 476 of Companies Acl 2006. The Trusto88 aCkr)0%Odg8 thdr r6spon$lbjties for 0)mn9 the Nulrements of the Act vAth respect to account6ng records and pr6parattcj of financLel 8taternents. Th8 flnancial stateménts havo been preparad In 3NdanC8 vAth the Pro818 applicablo to entllles subject to the sm811 companles reglme. The ftnancial Statements wero approved and authorised for Issu8 by the Trustea8 on 21 March 2023 and Slgned on Ihelr b8haW by. Chr1• Fum• cha10n Orto¢k Treasurer The notes on pag¢$ 12 to 20 frn part of finanCh 8tstérnents. Page 11
ThE ABBEYFIELD OXFORD SOCIEfY LIMrrED (A company Ilmited by guarantoe) NOTES TO THE FINANCIAL STATEPAEPS FOR THE YEAR ENDED 30 SEPTEMBER 2022 G•n•rnl Inf0MtIOn The Abberfield Oxford Society Limited is a prive company limited by guaranloe incorporatèd in England and Wales. The registered ¢)ffice address is Brian LeVS House. 80 Saint Clemonts Str881. Oxford OX4 1AW. Ac¢ounllng pollcl•s 2.1 Bull of pr•parntlon of fin•n¢lal •tat•m•nts The financial 8talements have been prepared in accordance wth the Charibes SORP IFRS 1021- Accounting and Rewrting by Charities.. Statement of Recommended Practice applicable to chiritigs preparing their accounts In aCCordar8 ¥th th8 Finanryal R6portiThJ Standard applicable in the UK and Republic ol Ireland IFRS 102} {6ffective 1 January 20191, the Financial Reporting Standard applrAblg in the UK and Re of Irolar (FRS 102) aThJ the Companles Act 2CKJ6. The Abbefftld Oxfcffd Swety Limited meets ts d8finltk)n of a publlc benefft enllty under FRS 102. Assgts and Ilabllib'es are Inhlalty reccgnlsed al hk8lorical cost or transactlon valug unless olheNI88 stated in the rglevanl ac¢xJunting polw. 2.2 Incom• All income 19 r6cogni88d once the Company has onlltlemenl to thg Income, It Is probable that the income wlll be received and ts omounl of income receivable can be measured reliably. Incomè tsx recoverabla In relatknn to invgslment Incom6 b¥ recognlsed at th8 lime the invastmenl Incom8 is rQCefvab. 2.3 Exp•ndltur• Expendire Is recognL8ed onco there Is a Wl or o)n$tructiv8 obligati¢)n to transfer economlc benefit to a third party, It Is probable that 8 transfer of economic bonefits 11 be raquirgd in setlemanl and the amount of th8 obligation can be maasured rdiably. Expendrture 15 classffjd by activity. Tha costs of each activrty are made up of the total of direct $15 and shared Costs, induding support costs Involved in undertaking each actsvrty. Direct CQsts attribulable to a sSngle acttvity are allocated dire¢lly lo th81 #ctiwty. Sharthj costs whith contribute to more than one activty and support costs which are not attributable to a slngle 8CtNrty a appOrtned bets¥een those aclNitses on a basis consist6nt wlh the use ol resources. Centr81 Slaff costs are olk)cated cfft the basts of timo spent. and dopreciatSon charges allocated on the porbon of the assefs use. Expendittjre on tharitable acbvibes is ircuffed ort dir• undertaking the activrbes whlch further the Comp8nV8 obJeGtives, as well as any associat8d support costs. All 8xpend6ture Is industve of Irrec¢wernble VAT. 2.4 Interest r•¢olvable Interest on funds held on det*)sit is induded en receivable and the amounl can b8 measured reliably by the Company. this is nomalty upon nOt[ficat of Ihe interest paid or payable by the instltution vthom the funds we dermited. Page 12
THE ABBEYFIELD OXFORD SOCIETY UMITED IA company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 A¢countlng polleles {contlnu•d 2.5 Tanglbl• Ilxod auots and d•pr•¢latlon Tangible fixed assets are Capit186d and ro3n1s0d wth8n futur6 ewnomic beneffts are probable and the cost or valu& of the asset can be measurthj r61bly. Tangible fixed assets are inrtialty recognise(l al cost. After recognition. under the cost modèl. tangible flx8d as18 are m68sured at cost less accumulated depreciation and any a¢cumulaled impairment los$8s. Al costs Incurred to brbng a tsnglble fixed a8881 Into Its Sntended worklng condition Should b& Included In the measurement of co8L Dopreclation is charged so as to allocate the cost of tsngible tlxed as88ts les8 thalr rasldual v8lu8 over thdr astlmate(l useful INe8. . Depreclallon is Provided on lh8 follolrKJ bas88: Freehold property FlureS and fftllngs 1% of osUmaled valua 20% straight line 2.6 Cash at bank •nd In hand Cash at bank and in h8ThJ indud88 cash and short-temi hlghly Ilquld Inv8stmonts wth a short malurrty ol thr•8 months or le88 from the datè of acqulkn or openlng of ts dep0811 or 8lmllar account. 2.7 Llabllttl•* and provlllons Uabllttl88 ar6 rgccqnlsed vthen Ihere Is 8n obligots'¢)n at the Balance s01 date a8 a result of a past event, il is Probable that a transfgr of economlc benefft 111 be required In 8ettlement. and Ihg amount of the setd6mgnl can be estimated roll8y. Llabilities ar8 recognised al the amounl that the Company anticapates rt wlll pay to settle the debt or the amount It has received as advanced payThents for the goods or serwces it mu$l provido. ProvL8ions ara measured al the bast éstimat8 of the 8mounts reoulred to setde the obla8110Th. Where the 8ff8Ct of the bme valué of monoy is meterial, the provision is based on the present value of those amounts, discount8d at the pr&ta¥ discount ra19 Ih81 reflects tha risk$ specrfic to the 1Sabillty. The unwinding of the discount is recognisgd in the Stalemenl of financial activitiès as a finance cost. 2.8 Flnanclal Instrum•nts Company onty has finand81 assets and financlaf Nabllrt6e5 of 8 klnd that qualKy a5 basic financial instruments. Baslc financial instrumgnts are Inlilalty recognised at transaction value and subsequently measured at their sduement value Mth the exception of bank loans whth are subsequently measured at amortised c05t using the effgclNe interest method. Page 13
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A Company limitod by guarante8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 A¢utIng poll¢l•¥ l¢ontinu•dl 2.9 Fund auntIng General funds are unre8tdcted fvryjs Vlhlth are available for u¥e at the discretlon of the Trustees in fvrtherance of thè general Objecti of the Company and vthith have not been deSdnaled for olhgr purposes. Designated funds o)mprise unrestricted funds that have bggn set aside by the Trustees for partlcular purposes. Thé alm ond use of each designated fund is set out in th8 notes lo the financlal statements. Restficted funds are furKls whlch are to be used In adance wlth 8P8GrfSc Testrfcllons Imposed by donors or which have been raised by the Company for partiDJlar purposes. The costs of ralsing and adrninislenng such funds are charged against the specific fund. The aim and use of each r8sth¢led fund18 sel out In the notes to the financial statements. Investrnent income. gains and losse8 are alloGgtod to the appropriate fur. Income from charltabl• actfvltl Unrn8trfd•d funds 2022 Total funds 2022 Total fvnds 2021 Rosldenual fe88 189,733 189,733 177.990 InvMtment Incom• Unrestrlct•d funds 2022 Total fund* 2022 Total funds 2021 DtVTdend income Profiullossl on disposal of rwestinents Bank Interest received 1,438 1,438 11.322 92,573 33 28 1,466 103,928 Page 14
THE ABBEYFIELD OXFORD SOCIETY UMITED (A MpanY Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Analys1# of expendlturn by acllvltl•8 Aclmtl undortaken Support dlr•clly costs 2022 2022 Total funds 2022 Totsl funds 2021 Resldenual accommthJaVon 92,799 100.522 193,321 152,817 Tot812021 86,414 66,403 152,8t7 Analysls of support cost• Provlllon ol accommoda tlon 2022 Total lundg 2022 Total funds 2021 Wages and pen810ft Costs Propety runnlng $ts Printing and stationery 21.723 19,698 557 21,723 19.698 557 20,680 16,430 290 E lil Telephonè Advertising and promotion Legal and professkY1 RepaSr8 and mahtenance Bank charges Sundry administrallon charg6s Govemance costs 2,460 145 6.845 34.037 (281 1.411 13,674 2.460 145 1,324 363 5, 191 9,524 206 788 11,607 0.845 34.037 {28) 1,411 13.674 100.522 100.522 66.403 Independènt fjxamlnefs remuneratlon 2022 2021 Fees payable to th@ CoMpanS IndeperKlent eXam1r thg lrnlependent examinatiort of tho Compan5 annual accounts 1.320 1.320 Page 15
THE ABBEYFIELD OXFORD SOCIETY LIMITED (A Company limit•d by guarnnt80) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 Tru$ts•8' remun•ratl(¥n and •xpon During the ar, rn Trustees received any remuneration or olher banefits (2021- £NILJ. During tha Jpar end 30 S6ptemb8r 2022. no Trustee exFenses have been inGurre(1 (2021- £NIU. Tanglbl• fix•d aM•ts Fr••hold Flxtur•8 ttnd proporty ffttlng¥ Total Cost or valuatlon Al 1 October 2021 Additions 701,539 41,866 42,269 743,405 42,269 At 30 Seplamb8r 2022 701,539 84,135 785,674 D•prncl#tlon Al 1 October 2021 Charge for the year 112.898 3,805 35.969 5.002 148,867 8,807 At 30 S8pt6mber 2022 116,703 40,971 157.674 Not book valu• At 30 Seplemb8r 2022 43.164 628,000 At 30 Seplember2021 588.641 5,897 594,538 Curr•nt as••t InvMtm•nts 2022 2021 Unllsted investments 1.016.693 991,448 Page 16
THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A Company limrt•d by guarantso) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 30 SEPTEMBER 2022 10. Credltorn: Amounts falling wlthln on• yoar 2022 2021 Other creditors 13.459 11,754 11. Flnancl41 Instrum•nts 2022 2021 Flnanclal assets Flnancial assets measur al fair value through Income 8rKI oxpendltwe 1.030,981 1,091.053 Financlal assets mea$ured at fair yu8 thrcmjgh Income aThJ oxpgnditure ¢ompri88 Investments and co$h al bank and in hand. Page 17
THE ABBEYFIELD OXFORD SOCIEfY LIMrrED (A company 11ml1 by guardnloo) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 12. Statsrnont of funds Stat•m•nt of funds- Gurr•nt yw Balanc• at 30 Transf•rs S•pt•mb•r Inloul 2022 Balance at 1 october 2021 Inm0 Exp•ndlture Unr••trlct•d funds Deslgnat•d fund¥ Designated Funds 1 eo,000 G•n•rnl funds G8ner81 Funds - all fvnds prOty revaluation rese Irweslment revduaticn reserve 1,287,909 279.962 40,744 191.199 1193.3211 1.285,787 279.962 14,551 (26.193) 1.608,615 191.199 (193,321} (26,1931 1,580,300 Totsl Unr••trfd•d fun 1,068,815 191,199 (193.3211 {26,193) 1.640.300 R•strl¢t•d funds Restrfcted Funds- all funds 4222 Total of funds 1.673.837 191,199 (193,3211 126,193) 1,645,521 Page 18
THE ABBEYFIELD OXFORD SOCIETY LIMITED IA ¢ompany limltod by guarant••) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 12. Statgmont of funds (continued) statsm•nt ol funds- prlor yr B818nc8 al Balance al l Octobei 2020 Tr8n8f8ts S8Ptember in/oul 2021 Income Exp8ndjlurg Unr••trl¢t•d fun D081gnat•d funds Designated Funds - ail fvnds 60,000 G•n•ral lund• General Funds - all fvnd8 1.535,281 281.918 f152.817J (55, 767) 1,608,615 Total Unrnstrlct•d fvnd• 1,595.281 281,918 (152,81T) (55.767) 1,668,615 R•8trlctod fund• Restrkled FurKIs- 811 funds 5.222 5,222 Total of funds 1,600. 281.918 (152.81T) (55.767) 1,673.837 13. Summary offunds Summary of funds - curr•nl year Balance at Balan at 1 OctobBr 2021 Transf•rs Septembor Inlout 2022 Income Expèndlturn Deslgnated funds General funds ReStrted funds 60,000 1,608,615 60,000 1,580.300 5.222 191.199 {193.321) (26,1931 1.673.837 191.199 1193,3211 (26,1931 1.645,522 Page 19
THE ABBEYFIELD OXFORD socIErY LIMITED (A company Ilmlted by guaranlee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 13. Summary of fund¥ (contlnuod) Summary of funds- prlor yur Balance al 30 Tr8nsfets Seplomb8r 2021 Balanc8 8t l Odobgl 2020 Income Expenditurn D881gnaled funds General funds R8slrfcknJ fvnd8 60.000 1,608,615 5.222 1.535.281 5,222 281.918 (152.817) (55, 76T) 1,600,503 281,918 (152,817) f55,767J 1.673,837 14. Analys1• of n•t a8••ts b•lw••n lund• Anal1¥ of n•t assets b•twwn nd$- curr•nt year RtrIct•d UnMtrldod fund¥ fund• 2022 2022 Total fund8 2022 Tangible fixgd assets Currgnl as8ets Creditors due wlhin one year 628,000 1,025,759 113,4591 028.000 1,030,981 (13,4591 5.222 Total 5.222 1,640,300 1,845,522 Analysls of not ass•ts b•twMn fund8 - prlor •r Restrfcted Untsstricted funds funds 2021 2021 Total funds 2021 Tangible fix&J assets Current assets Creditors due within one year 594,538 1.085.831 (11,754) 594,538 1,091,053 (11. T54) 5,222 T¢)tal 5,222 1,668,615 7.673.837 Page 20
THE ABBV¢FIELD OXFORD SOCIEfY LIMITED IA company limltod by guaranto01 INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2022 2022 2022 2021 202t Charlty Incomo Charges to resldents Dmdend inoyne Bank Intgrgst recelv& Galn on disp0881 of Investments 189,733 177,990 11,322 33 92,5T3 191.199 281,918 Oroil In¢om• In th• r•portlng p•rlod 191.199 281,918 L•8S'. Prop•rty •xpan* HcNJsekeeping costs Wages and pansion cost Malntenance Property running costs Printing and ststsonery Advertising and promotl¢)n Legal and professional Repalrs and malnlenanco Bank charges Sundry 8dm1nlstraon exp8n808 TelephorFe and fax 20,410 71.429 18, 160 65,878 2,378 16.430 290 363 5, 191 9,524 206 788 1.324 19,698 557 145 34.037 (281 157.924 120,530 Charfty •xp•ndfturn Governance wage5 and ponslon cost Affiliation and Independent exarninor fees 21.723 4867 20.680 4.914 26,590 25,594 D•pr•clatlon Freehold propety and fixiures & filb'ngs 8.807 6,693 8.807 6.693 Total oxpondlture Ngt Inrne for the reporting pwiod 193,321 {2.122) 152,817 129, lot Page 21