Reglsterod number: 631694 Charity numbor: 203245 THE ABBEYFIELD OXFORD SOCIETY LIMITED (A company Ilmltsd by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 THE ABBEYFIELD OXFORD SOCIEfY LIM￿ED IA ¢offlpany limited by guarantee) CONTENTS Refer•n¢è and admlnistratlvo détalls of tha Company. Its Tru6tw6 and advl8orJ Trust0￿. rèport Independent 8xaminerfs report ststom•nl of flnanclal actlvbtl Balance 8heèt 10-11 Note8 to the fln•nclal 8tat•m•nts 12-22 THE ABBEYFIELD OXFORD SOCIEfY UMITED IA cornpany limited by guar4ntse) REFERENCE AND ADMINISTRATIVE D￿AlL5 OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Trnst•O8 Chris Furness, Chairman Tim Lambertslock, Treasurer Robert Oklham Andrew Skinner Mrs Elvzabeth Par*er Mrs Jean Robert Ms Brrttany Maguire Company roglst•r•d numb•r 631694 Charlty r•g18t•rod numb•r 203245 Rogl$tsr•d i)ffic• Brian Lthvis Housè. 80 Saint Clements Street, Oxlord. Oxon. OX4 1AW Aecountsnt8 K80R, The ok￿ Tannery. Hensinglon Ro￿, Woodstock. Oxon, OX20 1JL Page 1 THE A8BEYFIELD OXFORD SOCIEfY LIMITED (A company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Th8 Trustees present their annual rewrt together vrith the financd stslements of The Abbe￿ield Oxford Society Limited for the year 1 October 2022 to 30 sept￿nber 2023. The Annual report setves the purposes of both a Trustees, report and a directors, rewrt under ccmpany law. The Trustees confirm that the Annual report and financial stslemenls of the charitable company comply with the current stalulory requirements, the requirements of the Charitab￿ companvs gov8ming document and th8 provisions of tho Statement of Recommended Praclu ISORPI applicabl8 to charib.es pfepanng their accounts in accordance with the Finarbcial Reporting StarKlard 7pplubl8 in the UK and Republ￿ of Ireland IFRS1021 {effedive 1 January 20191. Since the Company qualrfies as small under sedion 382 of the Companies Act 2006, the Strategic report required of medium and large compan*s under the Companies Act 2006 {Strategic Report and Directors. Report) Regulatsons 2013 has been omitted. Obl•ctlv68 and actlvltl a. PolS¢les and oblectlv•s In 8etting obj'edsves klanning for actN￿e8. the Trustees have gwen due con$ider81i(Jn lo general guidance published by th• Charity Ccmmi$sw)n ffjlaling to Publ￿ benefit. including the guidance'Public benefit.. running a charity {PB21'. Our ofyeclive is lo provide a safe. comfortable and supportive home for our residonts, all over 55 and m051 cOns￿erablY older. We regulaty revthv our polic￿5 and they fom the basis for what we do. the way we do il and how we ach￿¥8 our objectr¥es through our staff. b. Slrat•gle8 for achlevlng obJ•cllv08 Our strategy for a¢hieving our objectives is lo own and maintsin a conveniently l¢)cated property - Brian Lewis HoLF$8 - in which we 191 To￿$ lo our rgsidenls and centrally provide all meals, daytime staffing and a community which allows for independence wfiilst also providing the opportunity for social discourse and for shafed mealtsmes. . Activiti￿ und8rtak•n to achi•v• obj•ctiv•• Our main actiwties relate to the provis￿ of individual rooms for ¢)ur ￿¥￿ents. centralty provided meals and social activities to support our resKlenls. This invofves empk)ying slaff, buying food and other supplies and maintaining the fabric and facilities of the building. Th￿ indudes moinlaining a h￿h standard of cleanliness, safety and conven*nce apwopriale for our re$KJents. d. Main activiti•s und•rtak•n to furth•r tho Company's purwe8 for the publlc bonefft In providing affordable accommodation wrth meals In a safe and F￿eaSant environment bul with a degfee of independence, we tske wway the need for our rewdents to maintain their own homes. avoid undue pressure on the care sector as well as releasing valuable housing 5trtk to famil*s. Page 2 THE ABBEYFIELD OXFORD SOCIETY LI￿￿ED IA company limitod by guaranteo) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023 A¢hi•voments and porf0rn)an¢? a. Main achievemènts of the Company a. Exocullve Comrnlttèts Report This r8POrt covers th8 12 months from 1st October 2022 to 30th September 2023, although some more recent developmènts may be inclu¢J8d. Our Society The Society's purFose is lo promde a pleasant arKI ¥uppothe hcxne for older perso￿ ovar the age of 55. We have eleven rooms and our residents are currently mostty in th8ir 80$ and 90s. Residents enloy the Communal comfort and S￿nty offered by Brian Lewis Hous8. w¢th meals pr¢￿ided and their living accommodation maintained and healed. all at a reasonable rent. The kgy elements include safety, security and experienced staff who are on hand dur-ing the day lo assist as wéll as to provide the meals and keep the house running smoolhty.. We follow thè prI￿lpleS of the nat￿y￿E organisatw)n bul the Soc* 18 indeperKI-ent and fun 8$ a not- for-profil chanty by a board of kxal trustees under the Abbeyfield name. Our financial aim is to ¢ov&r all running costs and lo have Suff￿lent reserves to ensure bjngevty. The key element of our House 18 Independent Liwng. with our re$￿ents being supported as already outlined but in a context of being able to enjoy the freedoms and choi¢as that they will have previously enjoyed In their everyday live$. In this regard, some prgf8r a quiet and resttul lrfe whiL81 others ènjoy music, academi discussions. holidays and wsits away, iy sometimes foreign travel. AJI of these are indivKlual choicas. We do not provid8 Care but residents can buy in such addrt￿)nal support rf needed. Our sèrvices to resthnts are Wov￿1 by a small but deduled staff togeth8r with our twsle8s and also our volunteers who interact with residents and have taken sm811 groups to b)cal cultural events or arranged MUs￿al events or talk8. The res*Jents 8lso organise ￿1￿11￿ such as tslks. poatry raading8 and musical events. Wa have regLblar monthty coffee mornings which bfing log8ther reshjents. trustees and volunteers. Staff Residents tell us much they appreci* the work of the staff and their ￿ring attitude and willingness lo help. We are grateful to our House Managgr for hèr leadership arnl care for residents over the Last year. We also thank our Administratson Manager for her eff￿lent and IhoughtfLbl approach to her work. We especial￿ thank the whole staff team who have worked tireles$ty and cheerfulty. without exception, to make our Society the friendty, supportNe and effective living environment it has over the last twelve months. Our staff are in the front line in dealing with the Va￿n9 chaI￿nge5 which Seem 8￿y8 to be present. The leamwolk shown by staff, supported by trustees and volunteers, Is cruci81 to a smooth and happy House. A vital part of that teamwork ts of ￿1rSe, our resNJents tr￿t our staff are al the heart of our work and aro. in OUT view exceptional. Page 3 THE ABBEYFIELD OXFORD SOCIEfY LIMrrED (A company limited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 Achlgvom•nts and ￿rfOrnia￿eO {¢ontlnu•d) Oporatlons and Managemont We continue lo work within national AJ)beyfthJ policies, adapted as n￿SSary for our own circumstances. We have been assessed for the Abbeyfield Qualty Standard IAQSI and have achioved the standards required. The point of the Slandafd is lo ensure that every element of our work is fulty compliant with all national and local regulation5 and that we are work4ng efficwity and in line wrth bgsl practice. The accounts show that the Society has str￿g finances, thanks to the efforts of our trustees and of the management team. As a nol-for*rofst organisalion. our resKJentrdl charges are modest bul to keep those ¢harges at that level, we must minimise ro(xn V￿anC￿ and also ensu￿ that we keep our costs in line with effective practice5 and that we keep those costs under ￿nStant revEw. We n6gd also to maintain good financial reserves tocause Brian Lv4ViS House is an okler buikling which will sometsmes require repairs and has, in recent years. been Substant￿llY rafurbished externally with a new roof and external painting. Internalty, we have carried out many works to keep our fire precautions updated, installed new krt¢hen facilities and we have also C￿￿Pie1ed a rebuikj of the lrft and fijrther minor but essential wort(s. Rè8ldants During the past year we reluth"8h￿ rocrfn$ as usual when va¢**¢w ¢￿Trad. Some of the new enquiries about accomrnodab'on come from Abbeyfiekl's national reputation and visibility bul most arise through Ic￿1 contscls. limrted local advertising and word-of-moulh. We continue lo keep 8 register of potentsal new resKlents we contad in cases cl a vacan￿. The most nomal reason for a resident to move on is that they need fulklime Professional care beGause we cannot provide this ourselves, though we do encourage residents lo purchase any small amounts of care they may need from oulside providefs. For most of the year under rwffw we had 3￿ght￿ higher than usual averages of vacant rooms and this is refflected in similar Hou8e8 elsewhere. many of which have had to close as a eonsequence. When new residents are idenlffied. we prefer that they have an inrtial short Irk81 stay which prowdes the opportunity for them to make sure as far 85 pjssible that they are going to enjoy Imng al Brian Lgwis House. This lessens the risk that they will go to the uph8av81 of mowng here on a pennanenl basis onty to find that it is not lo their taste. Tfustees and oth•r voluntoern DuTing the year we had a stable group of seven trustees who together fomi the Ex￿utive Committeo which meets six th'mes per year. The purpose of the Ceffimittee L8 to sel the policy and direction of the Society and lo monitor the achievement of objethves and make any necessary aQ"ustments. Each trustee has a specific area of responsibility as well as their gener￿ duty as a trustee. We continue to benefit from 8 small pool of other volunteers in areas such as social support and befriending for residents, and limited IT support for both staff and residents. We thank all of them for their gocxlwll and their time but we are a￿¥#y$ hx4(ing for morg voluntegrs to expand what we can offer to our residonts. The Challenges of the Last Year After enduring the isolation and worry of the Cowd epidernic for what seemed - and indeed wa5 - a very long time. our residents have recovered from all those limrtabons to enjoy receiwng wsrtors, relatives and friends and to enjoy access to fresh air and exercise. However, other issues have arisen with record and I￿94a$lIng rises in energy pri￿8. food and other costs. All of these have affected the House and our residents and ￿11 conkn.nue to require finar￿la1 stringency. Page 4 THE ABBFfFIELD OXFORD SOCIEfY LIMrrED IA company limited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 Achlov•m•nts and pgrfonnanc8 (contlnu•d) Planning for Futurn Challeng•s The Trustees have a respons￿lIty to protect our residents by prowding safe accommodation for many years lo come. In the past we have revthved the usefulness and surtabil¢ty of Brian Lewis House and we are sure that this House is our best localhjn and that it wll be the h(Kne for the SocEty into the foreseeab￿ fulufe. Many 8nd varied challenges will faca ug and not ￿St. an increasing ¥p￿Tance of nstsonal reguLglion. Because of our status as an independonl. non￿re 9￿ing charity under the Abbeyfiekd umbrella, we have not been as subject to th& detailed national regulation that af-feds care homes bul the Social Housing Regulator is incrgasing Ils oversight of all housing providers. In ?ddrt￿n. the national $￿iety has laid ￿t rts requirement for more regular infomalion in the future wlh Al)beyf￿d England las the national SoC￿ty 1$ n(Y4V called) concemed about the levels of failure in the sector. Last but not least, the ￿1n thallen9ès of maintaining gcod occupancy levels in the House whilst keeping 8 firm grip on costs will be importanl. WhiLqt we are keeping a ch)se eye on such matters, we feel that we are fully resilienl and ready to face a p)sitw6 future with a successful and hard￿￿rkIng team.. b. Inv•8tm•nt pollcy and performane• The Trustees made a decision during thè year to fccus investrnents on capital growth rather than Income. Thi8 has affectsd our Ir￿Me compared lo pwious years bul m8ans that we are not using past inve8tsnenls lo sub$idi38 current expenditure. Fln•ncl•l revlow a. Golng concorn After making appropriate enquims, the Tru$lee$ have a reasonable expectslion that the Company ho$ adequate fesources lo ￿ntInue in cyerational existence for the foreseeable futLITe. For this reason, they continue lo adopt the going concem basis in prepanng the financol stslemenls. Further detsils regarding the adoptk)n of the going concem basis can be found in the ￿luntsng b. Valuè for Monoy Value for money means being effective in planning and then managing and operating the Society. The aim ￿ to make the best use of resources whilst providing homes which maintain and improve the quality of lrfe of residents. Following the issue in Aw'l 2018 of the Technical Note by the Regulator of Social Housing, the Society now reports on the 7-melric covered by the technical note. The figures in brackets al the end of each metric act as comparator and represent those of th& Abbeyfield Society ITAS) natsonalty Housing Assocplion numbgr H1046. Metric 1- Reinvestment % The reinvestrnent metric looks at th8 inveslment in (existing stock and naw supply) as a percentage of the value of total properties hekj. Theie has been no developmenl of Pfopety in the year with experTrdilure focused on maintaining assets. Thg reinvestment metric therefore 0% {TAS. 2.60Qhl. Metric 2- New supply d¢livw¢d% There have been no new units created", this mets is therefore 0% (TAS". 0%) Page 5 THE ABBEfFIELD OXFORD SOCIETY LIMITED (A company limited by guardntsel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2023 Metrlc 3- Gèarlng % This metric represents net d8bt as a percentage of the value of woperties hekd. As the So¢iety doe$ not have any loans this metric does not appty ITAS.. _13.40%}. Motric 4 - Eaming8 beforo Int•r•st. Tax, Dopro¢latlon. Amortlsatlon. Major R•palrn Includod IEBITDA MRI) Intoro8t Covor % As mentsoned in Metric 3 above. the Society does not have any debt and therefore this metric does not apply ITAS'.-2.188%). Metrlc 6 - Hèadllno 8oclal houslng ¢08t por unlt This metric represents the total S¢￿￿1 housing costs las defined by the regulalorl divided by the total units owned and has been cakulated as £1 S,631 ITAS. £25.0471. The costs for the Society were larger than usual in the year under due to a ca￿tal￿d major reFHir. Metrlc 6- Operatlng Margln % Thè operating margin of the chwlty is 8.39% (TAS.. -10.93%). Metrlc 7 - Return on capltal omploy•d IROCEI % Thi$ metric compares the overall operating surplus lo total assets less curr8nt liabilities. 0.90%. ITAS.. 4.20%). Compared with its modest inccffie, the SIx￿ty benefits frc¥n high capital because of historic endowments. b. R08arves pollcy It 18 thè wlicy of The Abb8yr￿k1 Oxford Society Limiled to mainlain a good financial re8erve8 to enable the Brian Lewis House to be maintained to a high lthl. Structurgj govomance and managom•nl . Conryttt￿I0n The Abbeyfield Oxford S¢xiety Limrted L8 regtstered as a charrtable c(xnp3ny h'miled by guarantee and was set up by a Memorandum of Ass￿101￿. b. Methods of appointmgnt or 91gCtlon of Trustees The managernent of the Ccffnpany 15 the responsilylity of the Trustees who are elected and co-cvted under the terms of the Memorandum of Associalion. Page 6 THE AB8EYFIELD OXFORD SOCETY LIMITED (A company limrted by guaran*ol TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEfJ 30 SEPTEMBER 2023 Statem8nt ol TrnBt•￿' T￿Pon￿lIJil1t￿•s The Tfustees (who are akn Ihedifftlor5 01 the coM￿nY for the purpxes oftornpany lawl are reswnsible for eparing Ihg Trustees. rewt and the rknfjnc￿l ststhents in ￿rdance with appl￿ knv and Unrted 'ngdom knounl4ig Sl*thrda {UThted Generall4 Aewled kn>)unh'n9 Pf8Ctlcal. Cwpany Jaw Ihe TryBte•s to prepwe finar￿￿ 8tatwn8nl¥ financial y•ar. u￿ser company I￿, the Trust￿ must not 8pprovB Ih8 financlstl $t8therrts unless Ihey *8 6atisfted that th8y give a trite aod fair VEW of the st8te of affair5 01 thè Company *)d of its iFfL¥TrThJ resourc*s and ol rèsoutces. including ils inccffie And •x￿aknre, for tha¢ In th•8e 5talem8nts. Ihg TnJ*e08 8ra required sélacl suil8blè OCC(￿n1•n8 poktes then Ihem consis18nUy,' obserye Ihe and pr¥ioF* of the Ch8rth$ SORP IFRS 1021.. mak$ Ivthjmènts ar￿ ￿n￿.￿9 8sb"m8tes thal are reason*)le and prLthI. 818te whether appl*xb￿ UK A￿UnI1"r9 Stsndards {FRS 1021 have b8•n foltrwed. subject lo any mate￿1 ¢epartur8s thsckvd explaw*d in Iho fiTran￿ statwnerts, propa￿ the ststaments on thè gokvJ coneern basi$ unkn8 tt 18 1n8pwCpr￿10 lo weswne that th Comwny wiu knThss. The Trusle8s are re8rx)nstAe lor keopry &*uatè ￿¢￿n￿"Th4 tewds that WO 8uffK48nt 10 8h(Mf and trxplaln Ihe Comp8nlb trans*1￿¥ and ¢knl)se reasona￿ at any 11rn8 the fifianel￿ posllkjn of tho c(￿PanY arKJ enabte Ihem lo en8ure that Ihe financial statements ¢L¥nply wth lh• C¢Mnp8nie8 Ael 2(￿. They a160 r85ponstsle for 8aleguardirwJ the a&8eiA of the coM￿nY And laking reasonable steps for thé 8vention and delection ol fra￿1 and olher ryular6tle8. 26 da"2'0i+ Ihe Tru81¢•5 d *ned on theKbèhalf b￿. on Chrh Fumes8 Chairrnan TIM Trg36ur8r P498 7 THE ABBEYFIELD OXFORD SOCIEfY UMITED IA company by guarnnteel INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023 Indop•ndent oxamlDèrfs report to the Trustees of The Abbeyfw OxfoNI Society Llmtted Ilhe Company.) I report to the chanty Trustees on my examIna￿n of the of tha Ccmnpary for the year ended 30 September 2023. Rasponslbilitle$ and basls of r•port As the Trustees of the Company (and ts d￿e¢th for the purFM)BeS ofcompany Lqwl you are responsible IOT the preparation ot the accounts In *cordance ￿ry1h the requirements of Ihe Companies Ad 2CQ6 Ilhe 2006 ACVI. Having $ats'sf1￿ myself that the ￿cOUnt8 ol the Company are not required to be audibj under Part 16 of th• 2006 Act and afe elwJible for independent examination. I rewrt in reSF￿ of my examination of the Company's accounts carrEd out under Sect￿ 145 of the Charitses Acl 2011 Ilhe 2011 A¢i'l In carrying oul my examination I have followed the Directh￿S given by Ihe Chanty c￿nmISSIon under section 145(5)Ib} of the 2011 Act. Indopend•nt examlnofs •tstement I have completed my examinatson. I confirm that no matters have ¢1J'ng Standard *icable in the UK and Republic of Ireland (FRS 102)1. I have no concems and ha￿ csjne across no other matt8fS in cc￿ne￿IDn with the ?x8mlnation to whlch attenllon slKJuld be drawn ID this report in order kn enable a proper understanding of the acr￿unts lo be re8ched. This report is made 501ely to th8 Companls Tnjstees, as a both, in accordance wlth Part 4 01 the Charities (Accounts and Reports) Regulaiions 2008 My work has been undertaken so ihal I might stale to Iho Company's Trustees those matters l am required to State to ihem In an Ind¥sendent examinerfs repoTI and for no other wrpose. To fullesl exlent permitted by Iww. I do not accept or assume responsibility to anyone olher than the Company and the Companls Trustees a$ a btyjy. for my work or this report. &'gned.' LO￿aIne BUt￿r FCA The Old Tannery HensiTrJton Road wc*yJstr￿f OX20 1JL Page 8 THE ABBEYFIELD OXFORD SOCIEfY LIMfTED IA company limited by guarantee) STATEMENT OF FINANCIAL ACTVrftfiES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023 Restrictod Unrestricted funds fund8 2023 2023 Total funds 2023 Total funds 2022 Not• In¢omo from: Charitable actmlies Investments 177.124 6,172 177,124 .172 189, 733 1,466 Total Incom• 183.296 183.296 19t, 199 Expondlture on: Charitable activits'88 191.670 191,670 193.321 Tot•1 •xp•ndlturn 191.670 191,670 793,321 Not oxponditure Transfers betsveen funds {8,3741 23.240 {8.374) 23,240 f2,122) {26. 193) 13 Not movomont In fund• 14,866 14,866 (28.315) Reconelllatlon ol funds: Totsl funds brought forward Net movement in funds 8,222 1.640.300 14,866 1,645,S22 14,866 1,673,837 {28,3t5) T¢)t*l fund8 carrl•d forward 5,222 1,655,166 1,660,388 1,645,522 The Statement of financial activitsgs indudès all gains and k)ss8s rocogntsèd in the year. Thg notes on pages 12 to 22 form part of these finanual statements. Page 9 THE ABBEfFIELD OXFORD SOCIEfY LIMrrED (A company limit•d by guarnntse) REGISTERED NUMBER: 631694 BALANCE SHEET AS AT 30 SEPTEMBER 2023 2023 2022 Flxed a8Set8 Tangiblg ass9ts 612,861 628,000 612,851 628,000 Currnnt a886ts Debtors Investsnents Cash at bank arKI in hand 3.932 1.046.068 9,510 10 1.016,693 14,288 1.059.610 1.030,981 Creditors.. amounts falling due ￿thIn one 11 (11.9731 (13,459) Not currnnt a880ts 1,047,537 1,017,522 Total a￿•t8 le•• curr•nt Il*bllttl 1,660,388 1,645,522 Not a•*ot• excludlng p8n8lon a•••t 1,660,388 1,645,522 Total n•t a8Ut• 1.660.388 1.645,522 Charlty funds Reslrieled funds 13 13 5,222 1.655,166 5,222 1,640,300 unreSt￿ted funds Total funds 1.660.388 1,645,522 Page10 THE ABBEYFIELD OXFORD SOCIEff U￿￿E0 IA company Ilmlted by guarantee) REGISTERED NUMBER- 631694 BALANCE SHEET (CONTINUED AS AT 30 SEPTEMBER 2023 The Company was ents'yed to exemption from audrt SeCt￿n 477 of the C(Jnpan￿s Act 20C6. The membgrs have not r￿u1r8d the c¢Ynpany to obtain an aud¢t for the year in quesllon in accordance with section 476 of Companies Acl 2C(6. The Trustees acknowledge their reswnsbitrt￿S for comp￿'r￿j with the requir￿ents of the Act wtth respect to accountsng records and preparation of financi81 statement8. The financwl stalem8nts have been wepared in accordance with the provisions applKable to èntitses subject to the small companies regime. The financ￿1 stateme were approved arKI authOr￿ed for issue by the Trustees on and signed on their behalf by.. Chrls Furnego Chairman ambobtstock Tteasurer Th8 no188 on pages 12 to 22 lo￿ part of thasa ffinanoal statements. Page 11 THE ABBEYFIELD OXFORD SOCIEfY LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Gongral infomiation The Abbeyfield Oxford Soeiety LiTnrted is a Private eompany limited by guarantee incorp)raled in England and Wales. The registered offK& address is Brian Le￿$ House, 80 Saint Cbments Street, Oxford OX4 1AW. A￿OUntIng poll¢l 2.1 8#81• of prep8rntlon of fln4n¢lal 8tat•m•nts The financial statements have been prepared in accordance with the Charities SORP (FRS 1021- Accounting and Reporb"ng by Charities". Stalemenl of Recommended Practice applicable to chari(ies preparing their accounts in acctxdance wth the Financial Repotting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard aPplUb￿ In the UK and Republic of Ireland IFRS 1021 and the Companigs Act 2006. The Abbe￿￿Id Oxford Society Limited meets the definiticffl of a public benefit entity under FRS 102. Assets and liabilities are inilialty recognised al historical cost of Iran$xb"on value unless otherwise ststed In the relevant accounb.llg policy. 2.2 Incomo AJI incom8 is recognised once the Ccmpany ha8 entsUemenl to th8 income, il 18 probable that the incc¥ne will be received and the amount of incc¥ne reCe￿ab￿ can be measured reliabty. Inc￿ne lax recoverable in relats'on to investment inoJne 18 recognised al the time the inveslmersl in¢¢￿e is re¢tyva￿e. 2.3 Ex￿ndIt￿r• Expendrture is recognised once there is a legal or ccrsstructive ctlligalion to transfer econcfflic benefit to a third party. it is probable that a transfer of economic benefits will be required in settbmenl and the amount of the oblKJatKJn can be measured rdiably. Expenditure is classified by actimty. The costs of each acliwty are up of the total of direct costs and Shared co$ls, including support costs involved in undertaking each activity. Direct costs attributable lo a single actmty are allocated dir• lo that actNity. Shar&J costs which contribute to more than one activity and support costs which are not attnbutable to a single acb"VTty are apportioned be￿een those activities on a basis consist8nt wrth the use of resources. Central stsff costs are allocated on the basis of lime S￿n[ and depreciation charges althated on the portion of the assef s use. Expenditure on chantable activities is Ir￿urr￿￿ on directy undertaking the actNits"es whith further the Cc¥npanls obj8ctiV8s, a$ wall as any associated support costs. Atl expenditure is inclusive (rf irrecovernble VAT. 14 Interost recelvable Interest on funds hdd on dep)sit is included when receivable and the amount can be measured reliably by the CL¥npany." this is normalty upon r￿￿r￿tIOn of the int&rest paid or payable by the Institutic￿ whom the funds are derx)srt&l. Page 12 THE ABBEYFIELD OXFORD SOCIEfY LIMrrED {A company limited by guarants•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng pollcl•8 (conllnu•d) 2.$ Tanglblo fixed assots and doprKiation Tangible fixed assets are witalised and recognised when future econom￿ benefits are probable and the cost of value of the asset can be measured rel￿bty. Tangible fixed awts are inthlty rwnised at cost. After recognition, under the cost model, langible fixed assets are measurgJ at cost less xcumulated deprec￿ts"0n and any accumulated impaiThenl ktsses. All costs incuffed lo bring a tangible fLxed asset into rts intended working ondrtion should bo included in the me&sur8m8nl of cosL DepreCiat￿n ￿ Charged so as io alb)cate the cost of tangible fixed assets ￿S their residual value ¢)ver thèir estimated useful INes. - Depreciation is prowded on the following bases.. Freehold propety Fixtures and fillings 1% of estimated value 20% strahJht line 2.6 D•btorn Trade and other debtors are recognised at the settlement amount after any tradg discount offOT8d. Prepayments are v*Lb8d at the amount prepaid not of any trade discounts due. 2.7 Cuh •t b•nk and In hand Cash at bank and in hand includ88 cash and short-lemi highty I￿uld inv081menls with 8 short maturity of three months or bgss from Ihg date of wuisits)n or coening of the deposit or similar account. 2.8 Ll•bllitl88 and provlslons Liab11rt￿ are recognised when there is an oblvJation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefrt will be required in settlement, and the amount of the setuernent be ests"mated relk8bty. Liabilit￿ are reccgnised 8t Ihe amount that the Company anticipal8s il will pgy to sgttle the debt or tha amount rt has recaiv8d as advanced payments ￿ the goods or 88rvices it musl provide. Provisions are measured at the best estimate of the amounts required to settle the oblvJalion. Where the effect of the knme value of money Is material, Ihg provision ts ba$gd on the prgsgnl valug of thosg amounts, discounted at the PT&tax discount rate that refleets the risks speerfic to the liability. The unwnding of the discount is r&ognised in the Stalement of financial activibes as a finance cost. 2.9 Flnanclal Instruments The Company onty has financol assets financk81 liabilities of a kind that qualrfy as basic financial inslrumenls. Basic financial instruments are inrtkAIty recognised al transaction value and subsequenty measured at their settlement value with the exception of bank loans which are subsequendy m&%ured at anortis&l cost using the effe¢lNe interest method. Page 13 THE ABBEYFIELD OXFORD SOCIEff LIMITED (A company limitod by guarant¢el NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Accountlng polici•¥ {¢ontinuadl 2.10 Fund accounting General funds are unrestricted funds vthich are available for use at the discretson of the Trustees in furtherance of the general oty"ectsves of Ihe C￿npanY and which have nol been dgsignaled for other purposes. Designated funds comprise Unrests￿ed fund5 that have been set aside by the Trusleey for particular purposes. The aim and usè of each destqnated fund ￿ Set out in the notes to Ihe financial stslements. Reslricled funds are funds whieh are to be used in accA)rdance with specffic restrictions imposed by donor¥ or vthieh have been raised ty the c{￿panY for parb"cular purposes. The costs of raising and administering such funds are charged against the Specif￿ fund. The aim and use of each rgstrictsd fund is sel out in the notes to the financial Stat￿ftents. Investrnenl income. wns and Ios98s are al￿ed to the appropriate fund. Incomo from charltablè i¢tlvltl•8 Unr•strfctod fund8 2023 Total funds 2023 Total funds 2022 Residential fees 177.124 177,124 189. 733 Investment Incom• Unre81rlctod funds 2023 Total funds 2023 Total fvnds 2022 Dividend income Bank interest rec*ved 6,135 37 6,135 37 1,438 28 6.172 6,172 1.466 Page 14 THE ABBEYFIELD OXFORD SOCIETY UMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 Anal￿1¥ of gxpenditurg by a¢tivilioS Activities undèrtakon dir¢¢tty 2023 Support costs 2023 Total funds 2023 Totèl funds 2022 Resident￿ accommodation 97,620 94,049 191.669 193,321 Tot812022 92. 799 1CQ.522 193,321 Anaty•18 of 8upport CO8ts Provhlon of accommoda tlon 2023 Total fund$ 2023 Tot81 lunds 2022 Wages and pension costs Prcperty running costs Printing and stationery 22,562 23,114 439 21.723 19,698 557 23.114 439 E Ill Telephone Advertising and promotKin Legal and professional Repairs and maintenance Bank charges Sundry admintstration charges Governance costs 2.019 2.019 456 6.219 18.189 1681 1,386 19,733 2,460 145 6,845 34,037 f28) 1,411 13,674 6.219 18,189 {681 1.386 19.733 94,049 94,049 100,522 Independent examln*8 remunerntlon 2023 2022 Fees payable lo the Companvs in(*ndent examiner for the independent examination of the Companls annual acL￿jnts 1,320 1,320 Pag8 15 THE ABBEYFIELD OXFORD SOCIEff LIMffED (A company limsted by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 TrnSte￿. romunoratlon and expenses thjring the year. no Trusteés r¢￿Ved any remuneration or other benefrts (2022- £NILJ. During the year ended 30 septeM￿r 2023. no Trustee expense¥ have ir￿Tr8d {2022- £NIL}. Tanglblo flxed as8•ts Fmhold Flxtures and property flttlng8 Total Cost or valuatlon At 1 October 2022 701.539 84,135 785,674 At 30 Sept￿￿￿[ 2023 701.539 84,135 785,674 Depr•clatlon At 1 October 2022 Charge for the year 116,703 3,805 40,971 11,344 167.674 15,149 At 30 September 2023 120,508 52,315 172.823 Not book value At 30 September 2023 581,031 31.820 612,851 At 30 September 2022 584.836 43,164 628,000 DèbtoYB 2023 2022 Du• wtthln one year Prepayments and ￿Ved income 3.932 3.932 Page 16 THE ABBEYFIELD OXFORD SOCIEff UMrrED (A company limited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 10. Current a888t Inv•8lments 2023 2022 Unlistèd investrnents 1,046,068 1,016,693 Page 17 THE ABBEYFIELD OXFORD SOCIEff LIMITED (A company limitgd by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 11. Credltor¥: Amounts falllng duo vthln on• yoar 2023 2022 Other creditors 11,973 13.459 12. Flnanclal Instrnm•nts 2023 2022 Fln•n¢lal •ss•ts Financial assets mea$urtsJ at fair value through irKome and expenditure 1,030.981 1,030,981 Financial assets measur•J at fair value through inwne and experKlilure cclnprise Investments and cash al bank and in hand. Page 18 THE ABBEYFIELD OXFORD SOCIEff UMrrED (A company Ilmlted ty guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 13. Slatsmgnt of fund8 Slatemont of funds- curront y•ar Balanc• at 30 Tran8forn Septombor Inlout 2023 Balanc• at 1 October 2022 Incom? Expendlturn Unrestrfct•d fund• 068lgnatod funds De8ignoted Fund8 1 60.000 60,000 Genornl fund8 General Funds- all funds Propety revaluation I￿[ve Investrnonl revaluation reserve 1,285,787 279,962 14,551 183,296 1191,670) 1.277,413 279.962 37,791 1,680.300 183.296 1191.6701 1,595,166 Total Unre•trlcted lund¥ 1,640.300 183.296 1191.670} 23.240 1.866,166 Re8trfctgd fund8 Restr￿ted Funds- all funds 5.222 5,222 Total of lund• 1.646.622 183.296 1191,6701 23,240 1,660,388 Page19 THE ABBEYFIELD OXFORD SOCIEfY UMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 13. Statemfrnt of funds {contlnuod} Statoment of funds- prlotr year Balance at 30 September 2022 8alanc& 81 l Odober 2021 Trnnsfers in/out Income Expenditure Unrostrlctad fund# Deslgnatgd funds DèBignat8d Funds- 811 fund8 Gonoral funds G8neral Funds- al funds Property fevaluation reserve Invéstmant revaluation reserve 1,287,909 279,962 40, 744 191, 199 (193.321) 1,285,787 279.962 14,551 (26, 193) 1,608,615 191, 199 (193,321) {26. 193) 1,580,300 Totsl Unrn8trleted fund• 1.668.615 191, 199 (193,321) (26, 193) 1,640.300 Restrlcted fund8 Restricted Funds - all funds 5.222 5,222 Total of funds 1.673.837 191.199 (193,321) (26, 193) t,645,522 14. Summary of funds Page 20 THE ABBEYFIELD OXFORD SOCIEff UMITED (A Company Ilmit•d by guardnlwl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 14. Summary of fund8 (contlnued) Summary of fund8- currgnt year Balance at 30 Transfers 88ptember Inlout 2023 8•lanc• at 1 Odober 2022 Income Expendlture De¥ignaled fund Ggneral funds Reslricled funds 60.000 1,59S,166 6,222 1.580.300 183.296 (191.670) 23,240 1.646.$22 183.296 (191,670) 23,240 1,660,388 Surnmary of lund8- pfbor y•ar Balance 81 30 Septemb8r 2022 8818nce at l Octobgr 2021 Transfers in/out IrKom8 E¥p8nditur8 Desi9naled fund8 General funds Restrictsd ftjnds 60,OC 1,608,615 5.222 60,000 1,580.300 5.222 191, 199 (193,321) {26, 193) 1,673.837 191. 199 (793,321) (26, 193) 1, 645,522 15. Anaty•l8 ol nol a•a•t8 botween fund8 Anaty818 of not a880ts b•tweon fund8- current year RestrictDd Unrgstrlotsd funds funds 2023 2023 Total funds 2023 Tangible f￿￿ assets CAJrrent assets Creditors due wthin one year 612.851 1,054,288 (11.9731 612,851 1.059,510 111,9731 5,222 Total 5,222 1,655.166 1,660,388 Pag8 21 THE ABBEYFIELD OXFORD SOCIEfY UMITED (A company Ilmitod by guar4ntse} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 15. Anatysl8 of not a88•ts botwwn fvnd8 {contInu￿) Anaty818 of not assols bétween funds- prior yoar ResliTcled Un￿tricted funds funds 2022 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due ￿thIn one year 628,0(Xl 1.025.759 (13.459) 628,000 1,030,98f (13,459) 4222 Tot•1 5,222 1.640.300 1, 645,522 Page 22 THE ABBEYFIELD OXFORD SOCIETY LIMITED IA ¢ompaDy Ilmltod by guarantso) INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2023 2023 2023 2022 2022 Charity incomè Charg88 to residents Dividend Inwmt Bank interést received 177,124 6.135 37 189. 733 t.438 28 183.296 191, 199 Gro88 Incom• In tho rnportlng p•rfod 183,296 191, 199 Less: Propèrty 0X￿ne0• Housekeeping costs W8ges and pension ¢08t Maintenan¢¢ Propety running costs Printing and Sta￿onery Advertising and promotion Legal and professional Repairs and maintsnance Bank charges Sundry admin￿tration expenses Telephone and fax 21,196 75,237 1.188 23,114 439 20,410 71,429 960 19,698 557 145 6.845 34.037 (28? 7.411 2.460 6.219 18,189 (681 1,386 2,019 149,37S 157,924 Charlty èxp•ndlturn Governan¢8 wages and pension cost Affiliabon and Independent examiner fees 22,562 21.723 4,867 27.146 26,590 Deprgciation Freehold property and fixtures & ffttings 15,149 8,80T 1S.149 8,807 Total •xpenditur8 Not income for the reporting period 191.670 193,321 18.3741 (2, 122) Page 23