Reglstered number. 00632263
Charity number: 206449
THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
(A company limited by guarantee)
TRUSTEES. REPOIU AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE ABBEYFIELD CANVEY ISLAND SOCIEfY u1￿0
IA company limited by guardntee)
CONTENTS
Page
Roference and administratlve detsils of the Charity. its T￿￿ and alfvise
Trustees. report
Independent auditOf5' report on the financial slatem
8-11
Slatement of financial activities
12
Balanc• sheet
13-14
Notes to the financial stateM￿ts
15-26

ThE ABBEYFIELD CANVEY ISLAND SOCIEtY UMrtED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Trustee¥
E P Moryan (restgned 29 Septart￿r 2023)
M Morgan
D Bambridge
G Fielthy￿[
M S Hamps
TVBOX
C A Pitts (atwinted 24 August 2023)
number
OCE32263
Charity registered
number
Registered Off￿9
103 L(ry Road
Carwey Island
Essex
SS8 OJB
Indopend•nt audito
Hasiers Chartered Accountants
Charter&J Accwnlants
Old Staiion Road
Loughton
Essex
IG104PL
Page 1

THE A8BEYFIELD CANVEY ISLAND SOCIEfY UMITED
(A G￿nPary limiied by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The Trustees present theirannual report togaherwith the audit&1 financial sta￿￿ of the Charity forthe year
1 October 2022 to 30 Septernber 2023. The Annual rewrt serves Ihe purposes of both a Tnjstees. report and a
directors, report under company law. The Trustees confim) that the Annual report arKJ financial statements of the
charitable Company c￿lpty wtih the cu￿Ent statutory requirements. the requirements of the charitable Company's
goveming document arKI the provrstons of the Slath￿t of Recommended Pracbce ISORPI applicable to
charities preparing their accourrts in accordance with the Fin8T￿l81 Reporbng Standard applicable in the UK and
Republic of I￿land (FRS102) {effective 1 January 20191.
&"nce the Charity qualifies as small undw seckn 382 of the Cryanies Ad 2006. the St¥ategic report required
of medium and large cornpan￿ under the c(￿re$ Act 2(￿ (strateg￿ Report arKI Directots, Report)
Regulations 2013 has been omitted.
Ob5ectives and actlvitie5
a. Policies and objectives
The principal activity of the charity is manag￿￿ a home for eldety people at 103 Long Road, Canvey Island in
accordance with the atms artd princryiles ol the Abbeyfield ScK*ty knmited. These activities fall wholly within the
hostel housing activities defined in the H(#￿Ing Acl and 5th 17{5) ofthe Chatrties Act
The Abbeyfjeld Canvey Island s￿ Linited is an Ir￿￿knt S(￿1* under the umbrella of The
Abbeyfiekl Sctiety.
The trustees have paid due regard to guidan￿ issued by ￿ Clwrity C(ffnmiss¥)n i) deciding what actmlies the
charity should undertake.
In setting objectives and ptanning for activities. the Trustees have given due consideration to general guidance
published by the Charity CommissK)n relating to publ￿ benefiL i￿luding the guidance 'Public benefit: running a
charity {P821'.
Achievgments and wformance
Main achievements of the Charlty
The results for the year are set Qui in the inccxne arKI expenditure account and the posit40n at the end of the year
is sh¢xin in the bal￿e sheet. The comnitr￿ cbnsiderthat the st*e ￿affai￿ dthe is s8tisfactory.
b. Revivw of actlvitles
Although the home fulty occupted throughout yearthere ¥ras a Signif￿nt inprovement in occupancy
wrth total voids ft>r 2023 at 11.OOA compared to 31.4% in 2022. This level Is significan￿Y better than r￿ent years
and demand for our rooms continues at a high level. Thss is partty due to other simiLgr homes in the area closing
and the excellent reputat￿￿ of Abbeyfield Canvey. which is dri¥En by the quality of our tean. good social lrfe for
our resKtents and our ccffimrtment to erwring are redec￿￿ed fty rwi tenants to the hp3hest qualrty.
Page 2

THE ABBEYFIELD CANVEY ISLAND SOCIEfY UMITED
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Flnanclal Tevlew
a. Going concern
After making approprTrate wuirEs, thg Trustees have a reascfflabl8 expeclabon that the Charity has adequate
resources to continue in operational existence for the foreseeabk future. For this reason, they continue to adopt
the going concem basis in preparing the flnanc￿l ststements. Further details reg8fdin9 the adoptton of the going
COn￿M basis can be fDund in the accounting pdicies.
Reserves policy
It is the poltcy of the charity that Unrestri￿ funds wlith have not been designabj a speufic use shoLtld be
maintained at a level &]ulva￿nt to one yearfs expenditure. The trustees consider that reserves at this beve5 will
ensLsre that. in the event of a signifThnl drcy fti funding. they wll be able to continue the charl￿S CLrrrent
activitses while consideratK)n is given to ways in whth aJdrtThal funds may te raised. This level of Teserves has
been maintained throughout the year.
The society needs instanl access to its reserves to meet ry4ng ￿abIll*s. Cash b818nces are held in a bank
current account and also a deposit account prowding the hhJhest possible rdum based on the funds invested.
Some funds are also invested in a bond which gives a higher rate of Inte￿L
c. Financial
There has been an ￿￿rease in renlal YK¢)nE for the year of £48,860 to £180,745 (2022.. £131.885). This is the
result of the reduction in *￿Id$ and an increase in renl for each roc￿ of £1￿ per morrth to cover inliat¢onary cosl
pressure.
The Trustees are mindful of ￿ need to minnnise the levet of and maintain a full house whenever possible.
Thi$ bs to provide the best qualty of social lrfe for the resrdents as much as it 15 for financial reasons. A wailing
list is maintsined. and potential resbJents aTrJ their families are erwuraged to vtsit the house a5 5wn as they
express an interest in Ip4ing here. Empty rooms are first n￿lfied to pecyle the waiting lisl, atthough on
occasions care needs and eireumstances can ehange so they may no kjnger be interested. In which case
vacancies are advertised kxalty rf required. It is fvJ*p¥er that to a certain extent rc4)m vacancies
are inevitable and (Atside the chartties controL
The increase in rental incC￿￿ alKJr￿d wilh gc*xl cost ccth, during a ￿ of hlgh irfflatwjn, ha5 resulted in
small SUTplus of £3,489 for 2023 conyared to a defic* of £30.690 in 2022.
Page 3

ThE ABBEYFIELD CANVEY ISLAND SOCIETY UMrrED
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
d. Valuo For Money kletrks
Metric 1- Reinvestsnert %
Works to existing propertthousing ai cost LY w4uati
2022
Propety wnprovements in yEar
Total property and improvements al c(
442.000.(NJ
442.000.00
Metric 2 . New suppty %
New units devebped in yearlexisting units at preThI
2023
No. of rooms devew in year
No of rooms at yw end
11.(Kl
11.(10
it 1$ not in the charitrfs plan or capabiltyto increase the number of unrb offered. The house 15 of a fixed svze and
expansion is not prdctica or in the besl interests of the resKlents. It is instead the charity's objective to continue
to offer ex￿lIent acCommoda￿n and servKe at the oJrrent NrAume.
Metric 3- Gearing %
(Short and long leThn loans- ￿h) + frnI￿ teaseslprom at (xtst
2(r23
2022
Loans and leases
Total property and lmpFovem￿ts at cost
442,(KJO.LKI
442,000.00
The charity maintaNis reserNts in fine wilh tts pubfishejj rL¥fry and has a history of saving fgr fvture
investmenwimprovements or uiili%ing aC￿mUla￿￿ reserves for such Purposes. Therefore r( has not been
Metrtc 4- Eamnws before Inlerest. tsx. Depreciation. repairs NKluded {EBITDA MRI) Interest cover
Operating surplusldeffi¢it + IntereSt+de￿intereSt ptyable
This is Im[￿sS￿le to c*ul* as the charity ha5 no ryiterest payknk as nrt in debt
Aletric 5. Hea￿￿e S￿14 housiry c(>st per unit
2023
2022
Direcl costs per accounts
Support costs per accounts
Expenditure on charrtable adivities per aks
161.1(￿.00
18,173.00
179.279.lJO
146.302.55
16,733.24
163,035.79
Less deprec￿tiOn included abobE
Capitalised repai￿ in year
Total costs
(10.502.95)
(12,965.00)
168.776.05
150.070.79
Page 4

THE ABBEYFIELD CANVEY ISLAND SOCIETY UIAITED
IA company limited by guar4nteg)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Number of units
11
11
Cost per unit
15.343.28
13,842.80
Metric 6- Operating margin %
Operating surplus or deficrfnumobEr
2023
21J22
Rental incom￿harlI8ble ¢(￿ts
Renlal income
31150.93
131.884.88
-24%
180.745.03
Melric 7- Relum on capital ￿np￿ (ROCEI %
Operating Su￿jUS or deficitnotal assets less ￿Trent rthAilie5
21Y23
2022
Rental inCom￿harlIable costs
Totsl assets less current IHbilities
1%
31150.93
169.217.50
-16%
172.707.1
Strncture. govern￿¢9 and management
. constit￿lon
The Abbeyfield Canvey Island Soci* LwniEed is registered as a charilable company linite(f by guarantee
govemed by rts Memorandum and Art￿leS of Assoc[￿. The Charity was incorporated by guarantee on 9th July
1959. It is a registered charrty with the Charity CommBsw)n. The company is also a registered Housing
CO￿)raIton as a Registered &￿la4 Landlord as defined by schedule 1 to the Housing Act 19￿. The society is
engaged in housing ￿1Vit￿ as defir￿d in ttpAc*
The trustees. who are also the di￿10￿ forthe puw of c4Jmpany LThT. and wh) served duriro the yearwere..
E P Morgan {resigned 29 SePtWthr￿2•
M Morgan
D Bambridge
G Fieldwick
M S Hampson
TVBOX
C A Pitts {appotnted 24 ￿U¥l 2023)
b. Methods of appolntment or election of Trustees
None of the trustees has any benefioal interest in the company. All ofthe trustees are members ofthe company
and guarantee to contrbute £1 tn the event of a wiThling up.
Page 5

THE ABBEYFIELD CANVEY ISLAND SCKIETY UMITED
IA company limitad by guarant8e)
TRUSTEES. REpoiYf (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Structure. governance and managemert Iconttnued)
Pollcles adopted for the Inducllon and training of Tn￿t￿S
New tTUStees undergo an ir)ductil￿ session. The existing committee brief them on their responsibilities and the
philosophy of the ¢haiity. tnths are gi￿ wi intrc*Juctory pacJ( containing co￿e3 of key polici￿ and
procedures.
The board of trustees. whth ￿ h••e ￿ to SO munbers. kntinislers ts d18rity. The committee meets
regularly to discuss matteT5.
The offKer5 of the charityforthe yw ended 3(Mh Sqxanber 2tr23 as folk7dth'
Chair.
Mr M S HampsL
Treasurer.
Ms PA Morgan
Facilities manager.
Ms D Bartirx*Je
d. Financial risk managefflent
The Trustees have assessed the major risks to w￿h the Charity is ex￿sed. wi particular those related to the
operations and finances of the Charity. and 8re $8ltsfied that systems and procedures are in place to mitigate
exposure to the major risks.
The trustees have a risk man4￿nent sttaiegy whth ¢l￿pr￿eS.
An annual revi￿ ofthe risks that the chaTty may face".
The estsblishment of systems and pr￿edureS to mitigate those r*s identif￿1 in the ￿an.
The irnplemenlat￿ of proedures desiTrJ to minimise any P￿ti￿ #npact on the chafity should those
risks materialise.
Page 6

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMrrED
(A clxnpany limited by guarantw
TRUSTEES. REPORT (COtUlNUED)
FOR THE YEAR ENI)ED 30 SEPTEMBER 20rJ
The Truslees {who are atso the directo￿ of the Charity for the Purposes of company law) are responsibte for
preparing the Trustees. report and the ffinancial stslements in accordance with applicable 18rf and United
Kingdom Accounting Standards (United lQryJom Generalty Accepted Aectsunting Practice).
Company requires the Trustees to prepare stst￿n￿ ts eath ffinan￿1 JEar. Under wmpany I￿,
the Trustees must approve the fin8rKial statements unless they a￿ satiS￿d tI￿t they give a twe and fair
view of the state of affairs of the Chartty and of incoming resources and application of resources. including ils
income and expenditure. for that peiicld. In pre￿Ing these firrancial statements. the Trustees are required to..
sekd suitable accountsng policies aTrJ then appty them consistent￿.
bserve the metheds and principles ofthe Chanties SORP (FRS 102).,
make judgments and a￿Unting estimales that are reasona)le and prudent
state whether applicable UK Accounting Stsndards (FRS 11r2) have foN￿l￿￿. subject to any malerfal
departures disdosed and eWain&l in the financial st8tements.'
prepare the financial statements on the going concem basis unless li 15 inappropriate to presume that the
Charity will continue in bUs1r￿
The Tn￿teeS are rwonsiNe for keeping ajequate accountwig records that are sufficient to show and explain
the Chartys transactions aThJ disclose wrth [eaSc￿ab1e accurdcy at any time the ffi￿an￿al positi.on of the Charity
and enable them to ensure that the finarwl statements compty with the Companies Act 20[￿. They are also
responsible for safegLFaFding the assets of the Charity hence for taking rea$￿ab]e steps for the prevention
and deteclion of fraud and other Èrrngul*itie&
Dlsc105ure of Informati￿ to audknrs
Each ofthe persons who are Tr￿￿teeS at the time when this Trustees, ￿ort is approved has confirmed that..
so far as that TTUStee 15 ￿are, there is no relvAni aLKlil infonTOt¥)n of which the charivs auditOTS are
unaware. and
that Trustee has taken au the steps that ought to have been tthen as a Trustee in order to be aware of
Auditors
The auditQTS. Haslers Chartered Accounta￿. ha¥E indKaed their ￿￿ryIngness to continue in office. The
desrgnaled Trustees will proposfra mo11￿ reappohiting Ihe auditors 8t a nwting ofthe Trustees.
Approved by order ofthe member5 ofthe l)oard of Trustees on 10 May 2024 WKI signed on their behall by..
M S Hampson
(Chair of Trustees)
M Morgan
(Trustse)
Page 7

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
(A company limited ty guarantee)
INDEPENDENT AuD￿oR5. REPORT TO THE MEMBERS OF THE ABBEYFIELD CANVEY ISLAND
SOCIETY UMtfED
Opinion
We have audited the financial statements of The Abbe￿ Canvey Island Sc¢iety Limled (the'charityl for the
year ended 30 septernb￿ 2023 cC￿Prise the Statement of financial ath"¥it￿s. the Balan￿ sheet, the
SlateTnent of cash ftry4¥S and the related ncrtes. i￿luding a summary of svJn¢ficant accounbng policies. The
financral reporting fran￿v￿rk that has been appi*d Fn their preparatK)n is applicab￿ and United Kingdom
Accounting Standards. including Financial RepoTknng Standard 102 The Financial Reporting Standard applicabte
in the UK and Republ￿ d Ireland. (United KiThJ(k*n Generalty Accepted Acc(wntsng Practrel.
In our opinK)n the financkql statements:
a true and fair vi&¥ of the slale of the ctrdrilable compaWs affairs as at 30 Seplember 2023 and of
its incoming resources and ￿l￿10n of resourc*s. indudrrKJ ts in(xime and expenditure for the year
then ended:
have been pTop* prepared in ax1ydan￿ wilh Untw lfjngdom Generalty Accept& Acwunting
practi￿.. and
have been prepared in &￿[dan￿￿7th the reqUIren￿ of ts Cunpanies Act 20(￿.
Basis for opinion
We conducted our audit ￿ accordance with Intemat#)nal Standards on Audibng IUKI (ISAS IUIQI and applicable
law. Our responsil)ilibes underthose slandards are further descnbed in the Audilcrfs. responsibilttigs for the audit
of the financial statements section of our reFQFt We are independent of the chaTitable company in accordance
Wtth the ethical reqUIre￿￿￿ts that are relevant to our audit of the financial ststemerts in the Unrted Kingdom,
includin9 the Financial Repoiknng ￿n¢11,$ Eth¥21 Standa￿. and we Iwe fvlfiued our other ethical
responsibilitres in accordance with these requirements. We that the axfit ev1j￿ we have obtained is
sufticienl and appropnate to pmvxle 8 basis for crttrcpN)io
Conclusions relating to going concern
In auditing the financial statenrt ¥B the conduded that Trustees. use of the 9Jng concem basi5 of
accounting in the preparation ofthe ffinancial statern￿ is 8PPfDrKi*.
Based on the work V*e have perf0m￿, ￿ 1&4ve nat *jentI￿ any Mat&￿[ ur￿*rtaintles ￿lating to events or
conditions that, individualty or coHectivdy. may casl signifjcant doubt on the charitable ￿mPan￿$ ability to
continue as a going concem for a of at least Iwdve months from Wh￿ the financk31 statements are
authorised for issue.
Our ￿e¥￿n$￿IlitIeS and the resp(Thibilit*s of the Tntstees resp￿1 to concem are described in the
relewant sections of thts reporL
Page 8

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
IA company Ilmlted by guarantee
INDEPENDEKfAUDITORS' REPORT TO THE MEIJIBERS OF THE ABBEYFIELD CANVEY ISLAND
SOCIETY UMtTED (coKnNUED)
Other inft•rmation
The other information comprise5 the irrfDrrrHtion induded in Annual wort other tllan the financtal statements
and our Auditots, report thereon. The Trustees are reSF￿nSIble for the other information contained wlhin the
Annual report. Our opinion on the f￿￿)e1￿ statements does not cover the txher infomption and, except to the
exfrnt othenvise expliciuy stated in our re￿N￿. we do not expre55 any form of8ssuTrnce condusion thereon. Our
responsibility is to read the other inforThotion and. in doing so. consider whether the other infomation is
materially inconsistent with the statements or our kThWe cotained in the course of the audit, or
othefwlse appears to be mateiialfy mi5Stated. If Klenbfy such material inconsistencies or apparent material
misstatements. we are required to dete￿ine whether thi5 gives iise to a ffl8teTial mss51atemenl in the financial
statements themselves. If. based on the woth VR have perf￿rned. we conclude that there is a material
misstalement ofthis other inf0M￿tion. are required tr) rep(Kt tha fa*
We have nothing to re￿1 in this rega￿.
Opinion on other mattus prewibed by the Companies Act 2006
In our opinion, based on the woth UrKlerta￿ in the &￿Tse ofthe wjditr.
the infonnation given In Ihe Trustees. RerAIrt fLY the financial Ythich the financBI statements are
prepared is consistent with the financtal staternents.
Matters on which we are required to report by excepti￿)
In the light of tyjr kncwledge and urvjersknling of the ¢harrt* ccryany and erNironment obtained in the
We have rKJthing to report in re¥ed Lf foll¢fi￿"rWj rnatte￿ in felthn to which Cwpanies Act 2006 requires
us to report to you rf, in our ¢yinK)n:
adequate accounting fecords have n(rt been retums adequ* tr our audit have not been
received from branches not visited by us" or
the financial statements *e not in agreemertwith the accounling records WKI retum4 or
certain disclosures of Trustees, ￿MuneratiOn specified by law are n(rt made; or
we have not recerved all the information explanations we requffe for our audit or
the Trustees were noi entitled to prepare the fina￿la1 statements in accordance with the small companies
regime and take advantsge of Ihe small compantes. ex*￿n5 in pwring the Trustees, Report and
from the requirement to prepare a Strategc Report.
Responsibilities of trustees
As explained n*)re fuly in the Trn$t￿5. reSp￿tsibili￿eS statem￿. the Tnjstees (Twho are also the direLiors of the
¢harbtable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they gi￿ a true aTrJ fair ¥iew, and for such intemal control as the
Trustees detennine is necessary to enabte the prwknn of finwKial slatemwts that are free from material
misstatement. whether due to fraud or error.
In preparing Ihe financial statements. the Trustees are responsible kn assessing the charitable company's ability
to continue as a goirwJ concem. di￿￿￿"r￿a. as appficable. matt￿5 related to going concern and using the going
Page 9

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
IA compary limited by guarante8)
INDEPENDEKt AUDrroRS' REPORT TO THE MEMBERS OF THE ABBEYFIELD CANVEY ISLAND
SOCIEfY UMftED (CONTINUED)
concem basis of ar￿￿￿nting uths Trustees oiher inleThJ to SwhJate the Charl￿[e company or to cease
operations. or have no realith altemal￿ but to ¢*) so.
Auditors. responsibilitie5 for the audit of the financial statements
Our ofyectives 8Te to obtain reasonable assurance aiM)ut whelhw the financial statements as a whole are free
from material misststement. whether due to fra￿j or error. and to issue an Auditots, report that includes our
opinion. Reasonable assurance is a hNJh of assurance. but not a guarantee that an audit conducted in
accordance wilh ISAS IUKI wll deteci a matertal misstatement when it exists. Misstalemenls can arise
from fraud or error and are considered material rf. 1ndivtdt￿I￿Y or in the aggwte. they could reasonably be
Irregularibes. including fraud, are instan￿$ of nor￿Compli￿￿ with l•vs and regulations. We design procedures
in line swth our responsibiliknes. o￿tin￿ above. to detect material misstalements in ￿$p￿t of irregularities.
including fraud. The exterrt to whKh our procedures are capable of detsctirNJ irregularities. including fraud is
detailed
We obtained an understanding of the legal arKI regulatory that afe *icabFe to the entity and
delennined that the most $ignifKant are those that.
. had a direct effect on the dete￿nination of material amounts and disclosures in the financial sL*ments. These
included the UK Companies Acl. CharitEs Act. CharilEs SORP {FRS102); and
. do not have a direct effert on the fina￿181 ststements trAI r*)Yylierth wtih whKh may be ful￿￿nental to the
haritys ability to operate or to avcid a mat&ial p￿.
We obtained an understanding of the company a￿ complwng with those legal and regLklatory frameworks by
inquiring with management Thv&e inquiries were corrcthrated by 8 review of documentation issued by the
Trustees and used to assess the exlent of C￿lanCe with the rele￿t laws arKI regulations.
We discuss&J among the aKlit er￿￿ent t&qm rgJarrthng the L7)po￿JnrtIes and incentives. including
management override ofcontrots, that may exist T*thhin the QryanL&i￿n fDrfraud and and where fraud mrghl
occur in the financial statements.
As a resuft of perfo￿ning the above. VE Identified the greatest Fthrthl ts fra￿j in the folknV￿￿g areas, and our
The princÉpal risks Fdated to inapprrpiiate journ4 ent￿ impxt manwent bias in ￿oUnting estimates and
that of income rwnit#)n..
. Walkthrough testing was canied oul to and assess the desijn effectiv￿ of controls management
have in place to prevent and detect fraud.
. Substantive teslrng arbj anatytics were cwrigj to that income was ￿cO￿led in the correct pwtod.
conlroLs or other inappropriate inffluen￿ 04erthe financial rep￿"n9 pIC￿S.
. Assessing the appr(pr￿ter￿ of &xounting eslimts ￿ chaI￿nging any swJnifKant assumptions or
judgements made by managemenL
Page 10

## **THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED** 

## **(A company limited by guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF  THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (CONTINUED)** 

• Incorporating testing of manual journal entries that were posted throughout the year. In particular we focused on material journal entries, journal entries posted with unusual account combinations, journal entries crediting income or cash, and journal entries with specific defined descriptions. These were scrutinised for evidence of unusual entries. 

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 statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation 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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report. 

## **Use of our report** 

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Haslers** 

Chartered Accountants Statutory Auditors 

Old Station Road 

Loughton Essex 

IG10 4PL 

10 May 2024 

Haslers are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 

Page 11 



THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
IA company limited by guarantee)
STATEMENT OF FINANCLAL AcllvmES (INCORPORATING INCOME AND EXPENtThJRE ACCOUNT)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Toial
fvnds
2023
Total
funds
2022
funds
2023
Income fr(Mn-
Donations and legacies
Charitable ¥tMties
Investments
Other income
1J21
180.745
1.321
180.745
131.885
461
142
142
Total Income
182,768
182,768
132,346
Expenditure on:
charitab￿ activilies
179279
179.279
163.036
Total expenditure
179.279
179379
163,036
Net movement in funds
{30,690)
Reconciliation ol fvnds:
Total funds brought foThYdrd
Nel movement in funds
169218
169.218
199,908
(30,690)
Total funds caftied fonvard
172.707
172.707
169.218
The Stat&nent ol Financial A(*vit*s all gains and losses reccwJnised in the ￿r.
The notes on pages 15 to 26 forni part ofthese finanoal statem￿.
Page 12

THE ABBEYFIELD CANVEY ISLAND SOCIEfY UIAITED
{A company limited by guarantee)
REGISTERED NUMBER: I)0632263
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
2023
2022
Flxed assets
Tangible assets
Investsnents
11
12
59N75
69,978
59N76
69,979
Qebt¢xs
C8sh al bank arKI in hand
13
7,941
124.983
4.847
111,542
131924
116.389
Creditors: amounts falling duewtthin one
14
(19.692)
(17, 149}
Net current assets
113232
99,240
Total assets less current liabilities
171708
169.219
Creditots." amounts falling due after mLYe
than one year
15
{1)
Net assets excludlng penslon asset
171707
169,218
Total net assets
172,707
169.218
Charity funds
UnTestri¢ted fvnds
16
171707
169.218
Total fund5
171707
169.218
The members have not required the entty to an aud￿ fcK the year in quest#)n in &cordance with section
476 ofthe Companies Act 20[￿.
Hchyever, an audit ts iequired in XcCrfrlan￿ *ith S&￿￿)n 14S ofthe Chariltes Act 2011.
The Trustees ar*no* their respons*iililies kn c(xnplwng with the requiwRnts of the Act with respect lo
counting records 8fKI pwratim offmancial sL*ements.
The ffnancial st*ements have been in a￿￿rd￿ wrfh the pruli￿OnS ￿plICable to entitie5 subject lo
the small eompanw regirne.
Poge 13

THE ABBEYFIELD CANVEY ISLAND SOCIEfY UIAITED
IA company limited by guaraTrtee)
REGISTERED NUMBER: 00632263
BALANCE SHEET (COPrnNUED)
AS AT 30 SEPTEMBER 2023
The financial statements were a￿lOv&s arKI issue by the Trustees C￿ 10 May 2024 and signed on
their behaw by.
S Hampson
{Choir of Trustee9)
•Aorgan
ITrustee)
The notes on pages 15 to 26 fonyb Pat ofthese finartial Slatem￿ts.
Page 14

THE ABBEYFIELD CANVEY ISLAND SOCIEtY UPthTED
IA company limited by guarn￿￿)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
General inforniation
The Abbeyfield Canvey Isfand Soc* Limted is a prlvate incorporated charity. limited by guaranlee.
registered in Engl￿d and W*es. a company registration number of 00632263. The registered
address is 103 Roal. Canvey Isl*KI. Es8eK SS8 WB.
Accounting policies
2.1 Basis of preparatlon of financial slatements
The financial statements have pwred in acL*rdance with the Chariti25 SORP {FRS 102} -
AcCoUntw￿ and Replxtry by c￿￿Tiles.. Statement of ReCOm￿nded Practice applicable to ¢harities
preparing their accounts in *cOrdan￿ with the Financial Reporltng Standard applicable in the UK
and Republic of IrelarKI {FRS 1021 {effective 1 JanLWy 20191. the Financral Rewrting Standard
applicable in the UK and RepublK of Iretand (FRS 102> WKI the Companies Act 2006.
The Abbeyfield Canvey Island Srnety Limited meels the definiti(￿ of a public benefft entity urKler
FRS 102. Assets and liabilitw are inrt4qHy recognised at hi5tortsl Cost or transaction value unless
otherwise stated in the re￿ftt actounling pjlry.
2.2 Incoffle
l income is recognised 0[￿ the Chaidy has tr) the inc¢￿. it is probable that the
income will be re¢￿￿Ed and anv)unt of Ir￿ome Tec￿VatIe can be M￿uled reliabty.
Income tax recoverydble n relalion to In%Esl￿￿nt is r￿nISed ai the time the investment
income is receivabfe.
22 ExpendI￿re
Expendrture IS Tec(MJnised once Itwe is a193al or Constructi￿ obligth to transfer eciJnomi¢ benefit
to a third party. it is probable that a transfer of economK beneffts will be required in settlement and
the amount of the obligation can be measured reliab￿. Expenditure is classified by 8Ctwity. The costs
of each activity are made up of the total of dwect costs and shared costs. including support costs
inNvlved Fn undertaking e&h acbvity. Direct Costs attributable to a single activty are allocated directly
to thal aciivity. Stwed costs which ￿ntrIbUte to more than one ￿bvity and support costs which are
not attn"butable to a single athity are apportioned bet%￿n those activrties on a basis consistent wf(h
the use of res(NJrees. Central staff costs we aifocated on the basis of time spen( and deprecialfvjn
charges alktated on the wrbon ofthe assefs use.
Expen(titure on charilable ￿liVi11e3 15 rKurred on dir• UrhJertak¥￿ the actsvitw vthich further Ihe
All expenditure i8 indusr¥E of VAT.
Interest on funds t￿1 ￿ de￿$it is i￿l￿ded Wh￿ r￿e1*able and the amount can be measured
relTrabty by the Chariiy. this is normalty Upc￿ nOt￿￿tKIn of the interest paid or payable by the
institution with Ydhryn the fvnts are deF¥?￿d.
Page15

THE ABBEYRELD CANVEY ISLAND SOCIEfY UMITED
(A company l#nited by guarantee}
NOTES TO THE FINANCIAL STATEMEPnS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accountlng policies (contlDue(l}
2.5 Tangible fixed assets and deprnciation
Tangible fixed assets o)stiry £1,LKKI (ff more are capitaltsed and recognised when future economic
benefits are p￿bth arml the Ix)st orvdue ofthe asset can be Measu￿* ￿1[ably.
Tangible fixed assets are initk4ty recognised at rJ)st. After r￿nit￿n, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation a￿1 any accumuLgted impairment
losses. All costs incurred to bring a tangib￿ r￿ed asset into its Èntended working condrtion should be
included tn the MeasUrer￿ of cosL
DepreciatKm is charpl so ag to the cost of tswble assets less their residual value
over their estimated useful Ir4v. .
Deprecialton is provNSgJ on the folhmry basis:
25% Straight Li
15% Reducing Balan
25% Redwng Batance
15% Reducing Batance
Fixtures and fitt￿￿S
Office eqUIp￿Ent
Other fixed assets
2.6 Investments
Fixed asset InvestN￿ are a form of fmanc4al instrument and are inilialty recognised at their
transaction cosl and subsequently measured at fair value at the Balance sheet date. unless the value
cannot be measurgj reliabty in whKh case it ss measured at cost less impairmenL Investment gains
and losses. whether realised or unrealised. are combined and presented as 'GainsllLossesl on
investments, in the Statement of ￿anCIal aJNrties.
17 Debtors
Trade and cther debtors are recogniwl at the settlement am¢)unt after any tr* di￿O￿nt offeied.
Prepwents are Yalued at th8 affKJurt prepaKI n81 ofany trade discounts due.
18 Cash at bank and in hand
Cash at bank and in hand irtludes cash and short-tam highly I￿Uld invesknents with a short maturity
of three rnonths cf less frcrfn the (late clacquisitw or opening of the dep￿lt or similar account.
19 Liabilities and provisions
Liabiltties are Tecry3nised there is an obligat¥)n a the Bala￿e sheet date as a result of a past
event. it is probable that a transfer of econc¥n￿ benefit ￿11 be required in sduement. and the amount
ofthe setttement can be esfimated relthty.
Liabilities are recogn￿￿1 at the amount that the Charity anticrpates it WHI pay to settle the debt or the
amount it has receiwJ as •J¥arKed paymeftts trthe g￿￿5 or Se￿i¢8S it must provid9.
Provi51c￿5 are measured at the best estirn* ofthe wnwnis required to settle the obligat"ton. Where
the effect ol the time value of money is material, the provision is based on the present value of those
amounts. discounted at the pre48x discount rate that refiects the risks specific to the Itabilty. The
unwinding of the discount is recognised In the Statement of financtal aclivitie5 as a finance cost.
Page 16

THE ABBEIRELD CAN￿ ISLAND SOCIETY UMITED
(A coM￿nY limited by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
AGGountlng polldes {continued
2.10 Financial inslruments
The Charity onty has fin￿claI assets and financial ￿&￿ItieS of a kind that quakfy as basic financial
inst¥uments. Basic finar￿la1 instnmRnts are initsalty rwnised at transaclion value and subsequently
measured at their settlement vatve wilh the exception of bank k)ans which are subsequently
M￿asUred al amortised cost USKYJ the effective interest rnethc￿.
2.11 Fund ac￿unting
Gene￿1 funds are unrestritt￿ furKls whhth are aval&)le for use at the discretion of the Tnjstees in
furtheran￿ of the general obie¢tsves of the Charty and vthich have not been deswn8ted for other
Designated funds comprise unresthcted funds that have been set aside by the Trustees for particular
Pu￿oSes. The aim and use of each designated fuThl is set out in the notes to thfy financial
statements.
Invest￿ ir￿(Kne. gains and Icssses are alth8ted to the appropriate fund.
Income from donations and legacigs
UDre*ricted
funds
2023
Total
funds
2023
Total
funds
2022
1.321
1.321
Total 2022
Total
funds
2023
fund5
2023
R￿tal IrKome
Lo55es through Volts
203.2(K)
122.4551
203.200
122,4551
Totsl 2023
180.745
180,745
Page 17

THE ABBEYFIELD CANVEY ISLAND SOCIEtY UMITED
(A ¢(￿panY limited by guarantee)
NOTES TO THE FINANCIAL STATEME1￿s
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Income from charitable athitie5 Icontinued
Tolal
funds
2022
funds
2022
Rental Income
Losses through Vokds
192,2Ckl
(60.315)
192.200
{60.315)
Tota12022
731.885
137.885
Investment inwne
Unrestrfcted
funds
2023
Totsl
funds
2023
Interest R￿Nable
560
Unrestricted
fu
2022
Total
lunds
2022
Interest ReceNable
461
461
Other incoming re￿)urCeS
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Bank cOMk￿bsatiOft
142
142
Page 18

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
(A ￿￿panY limited ty guardntse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Anatysis of expenditure ty activiti
undertaken
directy
2023
Support
Costs
2023
Total
funds
2023
Charitable Activiltes
161.1C
18.173
179.279
und8rtaken
directy
Support
Total
funds
2ff22
2022
CharIta￿e AL#ivittes
14&812
17.224
163.036
Page 19

THE ABBFfflELD CANVEY ISLAND SOCIEtY UMTfED
IA company Ilmited by guardntee)
NOTES TO THE FINANCIAL STATEMEp¥rs
FOR THE YEAR ENDED 30 SEiYfEMBER 2023
Analysis of expendItU￿ by actl¥ltles Icontlnued)
Analysi5 of direct costs
Total
nds
2023
Total
funds
2022
Staff costs
Dep￿latiOn
F¢)Jd and househdd sundries
Telephone chwges
Ho¥Jse ¢￿aning and ￿￿inten￿
Heating and Irghling
Repairs and maintenan
Insurydn
Rates and ￿￿ter
Care line fees
Advertising
Other wsts
Legal and professi￿1
81.386
10.503
22,536
2.168
3.997
77,034
t2.965
12.174
2,657
4. 164
8.251
11,955
4.058
5,365
15,138
4.625
6,806
- ij
1,505
2,295
876
3,632
386
513
161.106
145.812
Anatysis of SUp￿rt Costs
Totsl
fvnds
2023
Total
funds
2022
Staff costs
Staff training
Printing. pctstage aThl sL81￿)nery
Legal and professional
Sundry expenses
Bank charges
Audit fee5
10,071
192
8,397
979
1,749
1,375
170
2.018
381
4.740
1&173
17,224
Page 20

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
IA company limited by guarnntoe)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Audilors. remuneratlon
2023
2022
Fees payable to the Charitys auditorforthe audit ofthe Charitys annual
4.740
staff costs
2023
Wages and 5alaiies
91A57
431
91.457
85,431
The average number of pe￿an$ empw bythe Charity durirKJ the yparwas as tllry•VS:
2023
No.
2022
No.
House Staff
Office Staff
No emplojee recet¥td anounting to rtx*e than £60.0(N) in either yBar.
10. Trustees. remuneratlon and expens
During the year, rto Trustees recep￿1 any remunw*ion orcther benefils (2022. £NIU.
Durtng the year ended 30 Septemter2023, no Tnth expense5 ha%* been incurred (2022. £NIU.
Page 21

THE ABBEYFIELD CANVEY ISLAND SOCIETY LlhlTED
IA company limited guarankn)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 20fJ
11. Tangible fixed assets
Freehold Fixtures and
Office Other fixed
property
fftlings 8quipm8nt
assets
Total
Cost or valuation
At 1 October 2022
395.493 232A29
3TI
46.507
674.706
At 30 September 21y23
395.493
231329
3TI
46.507
674.706
Depreclatlon
At 1 October 2022
Charge forthe year
181970
370
25A95
10,503
At 30 September 2(r23
190,374
377
28.987
615,231
Net book value
At 30 September2
41,955
17.$20
59.476
At 30 S8Ptember2022
49.359
20,612
69,978
Unlistod
investments
Cost or valu*ion
At 1 October 2022
At 30 September 2023
Net book value
At 30 September 2023
At 1 October 21J22 and 30 sept￿nbu 2023 the Charity held a £1 uweS1n￿ in At4)efftld Deben Extra
Care s(￿ Limited whKh relates to one share.
Page 22

THE ABBEYFIELD CANVEY ISLAND SOCIEfY UIATED
company limited by guaAnte8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
13. Debtors
2023
2022
Due wAthln one year
other debt(vs
Prepayments and acuued income
7.641
4,847
7,941
4,847
14. Creditors: Amounts falllng due *ithin one year
2023
2022
Trade creditors
Other creditors
Accruals and deferred uicome
1722
10.187
6.783
3.930
6,041
7.178
19,692
17.149
15. Creditors: Amounts falling after more than one year
2023
2022
Other kwis
The creditor relates to an ¢xrtstaNJing balance ￿ the *ge with Sanlander Bank PIC and is
held to faciliLite retertt￿.
Page 23

THE ABBEYFIELD CANVEY ISLAND SOCIEfY UMITED
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
16. Ststement of fvnds
Statsment of funds- cuyrpnt y￿r
Balance at
30
Transfer5 September
inlout
2023
Bajance at I
October
2022
Incon￿ Expenditure
Unrestricted fvnds
Designated fvnds
Des1gna￿ Funds- Sctbal
Fund
81)0
Generdl funds
General Funds- all lurKIs
169218
181768
(179,279)
(800
171.907
Totsl Unrestrfcted funds
169218
181768
(179.279)
172,707
S¢xial Fund (Designated>- This relates to fvrKls set a5Kle to fund scK¥al events and ￿ting$ held for the
residents.
ststement of fvndg- prioryear
Balance al
30
Septembe
2022
1 October
IrtL¥ne Experndilure
Unreslrlcted funds
Gene￿ Funds- all funds
199.908
132346
(163.036)
169,218
Page 24

THE ABBEYFIELD CANVEY ISLAND SOCIErY uMtfED
IA ￿rnPany limited by guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
17. Summary of funds
Summary of funds-uffrent year
Balance at
30
Transfers September
iDlout
2023
Ba￿￿¢• * i
October
2022
Income Exwidilu
Designated fund5
ernl funts
81JO
171,9D7
169.218
182.76
1179279)
l8r￿)
169218
182.768
11792791
172.707
Summary of fvnds- prioryear
B818nce 8t
30
September
2022
I cktobeK
2021
General funds
199,908
132.346
(163.036)
169,218
Page 25

THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED
(A ¢ompany limlted ty guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPYEIABER 2023
18. Anatysis of net assets between funts
Analysis of net assets bet￿n fund5- cuffent year
Unrestricted
fi•nds
2023
Total
funds
2023
Tangible fixed assets
Fixed a￿et investments
Current assets
Creditors due within Or￿ year
Creditors due in rn0￿ than one
59.475
59N75
132.924
{19.692)
(1)
132.924
(19.692)
(1)
Total
172.707
172,707
Analysis of ngt assets bol￿￿n fvnd5. prior year
funds
2022
funds
2022
Tangible fixed assels
69,978
69,978
Current assets
116.389
(17, 149)
(1)
116.389
(17, 149)
(i)
Cred[lo￿ due within one year
credit¢￿ due ￿ more than one sear
Totsl
169,218
169.218
19. Related party transactlons
Dury the year, no related party tranwa*Jn$ ￿r[ed(2022. £Nll).
Page 26