R•glst•r•d numb•r: 00632263 Charlty number.. 206449 THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
THE ABBEYFIELD CANVEY ISLAMD SOCIETY LIMITED IA company Ilmlted by guarantée CONTENTS Page Ref8rence nd admlnl•tratfv• d•lall• of th• Charlty. rt Tru#t•M and •dvh•r¥ Tru•lM¥' r•port Ind•p•nd•nt audltors. r•port on th• flnanclal Jtat•m•nts 8-11 31•lemgnl of fln•n¢l*l •ctlvlti 12 B•l•n¢• •h••t 13-14 Notes to the flnanclal stsl•ments 15.29
THE ABBEYFIELO CANVEY ISLAND SOCIETY LIMITED (A company Ilfflft•d by guarnnts•) REFERENCE AND ADMINISTRATNE DAlLs OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustw¥ M Morgan O Bambridge G Fieldwick M S Hamp80n TV8ox C A Pblls Company r•gl*t•rnd nUMr Charfty reglstsrod numb•r R•gl¥t•r•d offlc• 103 kng Road Canvey Island Essex SS8 OJ8 Ind•pend•nt audllorn Haslers Chartered knnIants Chartered Accountsnts Old Station Road Loughton Essex IG10 4PL Page 1
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED {A company Ilmlted by guar•nte•) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their annual report together wllh tho auditod finantsal statements of the Chaty for 1 October 2023 10 30 September 2024. The Annual reFQrt seThes the Purposes of both a Trustees. report and directors. report undor company baw. The TnJslees confiTm that the Annual r8POrt arKI financial statements of the charitsble company compty wth the (yjrrent S&U10ry wuirements, the requiremonts ol the charltable company's governing dUMent and the provisions of the Statement of Recomrnended Prarliee ISORPI appllcable to charitses preparing their acts)unts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Irgland IFRS1021 (effeckn've 1 January 20191. SlnGe the Charfty quallfi•s o¥ smdl undor sectl¢M 382 01 tho Compankns Act 2006. the Strateglc roport rgqulred of medium and large companies under Ihe Companies Act 26 IStrat•gic RepNI aTrJ Dir8ctors' Reportl R8gulalion8 2013 has been omilteo. ObJ•ctlv•• •nd adlvltl •. Pollcle• and obJectlv•• Thg principal actlvity of the charity is managiThJ a home for elderly people at 103 Long Road. Cenvey Island In accordance with the aims and principkn of the Abbeiej Socbety Limited. The$6 aclivitles f811 wholly within the hostel houslng actlvrtles definod In tho Housing A¢t 1996 orKI soctbon 1715} of the Charitles Act. The Abb8yfiold Canvey 1s18Thl Society Limited 18 an Klyndenl sodety opgratlng LbfKler the urnbTg114 of The Abbeyfield Socioty. The trustees have paid due re9ard guidanc0 issued by ts Charity Commission in decldlng wh81 activities the ¢h8rily should undertoke. In setting objectiv•s and planning for 8ctivili•s. the Trustees hav• gSven due consldernlion lo general guidance publishefi by the Charity Commission relatsn9 to public benefft. induding the guid8nce'Public bgnefit.. running charity IP82I'. A¢hl•v•m•nts and p•rfomi•nG• . MaSn achS•¥•m•nts ol th• Ch•rfty The results for Ihe year a sel out In fv Incorne aThJ •wn¢ltur¢ •cwinl and poJlUon al the of the year is sh£xm in balgnc• sheeL Tho Gommitte• ¢M51•r that the state c•f affair¥ of th• So¢i•ty 1$ salisfaelory. b. R•vl•w of a¢tlvltl•s O¢¢upancy levels wntinved to improve in the year, with lotal voids for 2024 at 4% compared lo 11 OA In 2023. This level is significantly better than recent years and demand for our rc4)ms contsnues al a hh level. This is Partly due lo other similar homes in Ihe area dosing and the excellent reputsts.on of Abbeyfield Canvey, which Is driven by the quality of our toam, good social lifg for our rosKlgnts aThJ our commitment lo ensurna rooms are redecorated for new tenants to the highesi quality- Page 2
THE ABBEYFIELO CANVEY ISLAND SOCIETf LIMITED {A cornpany Ilmltod by guarantee) TRUSTEE5' REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Fln•nclal r•vl•w •. Golng conc•rn In the year to 30th September 2025, significant expenditure in the region of £60,OW will be required to inst8113 rmv file alann system and improve Ihe quality of the Fife Dcws. Additional funding is being 50ughl lo cov8r somg of this., howevw. wlth Cash al Bank Balance 01 £128.543 there are adequate reseNes to cover this. Taklng the 8b)ve Into amnl and after making appropriate ènquir108. the Tru8tees h•vè a rea80n8blg expectation that the Charity has adequale resourcs lo continuè in oper8b.onal exislence for the foreseeable fvlure. For this reason. they wnlinue lo adopt the going concem basis in preparing the financial ststements. Further details regarding the adopbon ol the going concem basis can be found in the accoLtnting polbcies. b. R•••ri• pollcy It Is the pollcy of the charity that unrestrbcted funds whith have not been designotod for a specrfic use should b mainiained al a level equivalent lo one year's expenditure. The trustees consider that reserves al Ihis level will ensure that, in the event of a gnthCanI drop in fvndin9, they will be able lo continue the charity's current activities whlle consideration 15 given lo ways in whith addItn81 funds may be ralsed. This level ol reserves has been maintsined throughout the year, allhough given the comments in the Going Concem section above thls Ss unlikety to be the case in the year to W Seplemtr 2025. The society ng8ds Instsnt ac£•88 to its roseNes to meet Or)13 liabilitie5. Cash balances are hèld in 8 bank currgnt aceounl and aL80 8 depowl account pffjv¥JirwJ the highest p)5sible r8lum based on the funds Invested. Some funds are also Invested in 8 bond which gi¥e8 8 hi9her r81e ol interest. c. Flnanclal There has been an inc¥ea8e in fftntal In¢omo for the year of £21.089 to £201,83412023.' £180.74SI. Th1$ is thg rosull ol the redLtction in vohjs arKI an increase in onl for each rcM)m of £1OJ Fer to cover inflats'onary cost pressure. The Trustees arè mlndful of need lo mlnlmise the level of volds and malntaln a full h(xrne wh8nov¢r possible. This is lo provide the best quality of social lrfe for the re$i¢Jenl$ as much as il is for financial reasons. A waiting list is mgintained. gnd potontial residents and Ihoir f3miliè$ aro •rwurag0d to vlslt the hDUSO as soon as they express an interest in living here. Empty rthjms are first nolified lo people on Ihe wailing list. although on certain occas)ns care needs and cArcumslances can change so they may no kjnger be interested, in which ease vacancies are advertised localty if required. 11 is TrK)wever acknowledged that to a certain extent room vac8ndes are inevitable and outside the chanties control. The inuease in rental inwme alned with wod cost control. during a year of witinued inflatlon, has resulied In a small surplus of £13,610 2024 comp3r9d to a $urplu$ of £3,489 In 2023. OUT ongoing commitment to malntaining a tmghquality environmenl aTrJ services for our residents induded Investing.. £5,100 on refurt>ishing the kitchen 8re0. £3,170 on a new cooker that was instalw after ye8r et £5.127 on a new t)oiler. Page 3
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (A company Ilmlled by guarnnteg) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024 d. Valu• For Momy M•trlc¥ Melrl¢ 1 Reinvestment % Works to oxlsling properti9s1hsln9 propbrti8s al CA1 or valualvjn 2024 2023 Propgty improvgmenls in year Totsl propoty and improvements al c4)st 0% 0% 445.384. 442.000.00 Melrfc 2- New suppty delivwed Now units developed In yearlexisting units at y••r erKI 2024 2023 No. of rooms d8velop8d In ye8r No of rooms at year end it Is not in the tharitls plan or capability to increase the number of units offered. The house 1$ of a fixed slze and expansion is not practical or in the best inlerests of the residenls. 11 15 inslead the charlty's oblvclive lo conlinug to offer excgllenl accommodation and sorvice at the Current volume. 0% 11.00 11.00 Metri¢ 3- Gearing % (Short and long lemi loan> cash) + fmnee le8888lprLyety 81 c¥)st 2024 2023 Loans and leases Total property and improvents 8t 81 The eharity m8inlain$ resefves in line its published policy and has a history of saving for future Investmenlsllmprovements or ulllising accumulated reserves for such purposes. Thereft)re it has not been deemed necessary lo enter into debt. 0% 445,384.IXI 442,000.00 Metric 4 - Eamings before Inleresl, lax, Depreciation. Major rnpairs included IEBITDA MRI} Inlerest cover Operats'ng surplusld8ficit + interesl+¢Jepntinleresl payable Thi$ is impossible to calculate as thè tharity has no inleresl payablg as it is r1 in debL Metric 5- Headline soual housing cosl per unit 2024 2023 Direct Costs per accounts Support costs per accounts Expenditure on charitable aciivities per al 170.285.00 161,106.00 I,041.00 179,279.00 Les5 deprecialion included above Capilalised repairs in year Totsl costs {11.124.591 110,502.951 178.916.41 169.776.05 Page 4
THE ABBEYFIELD CANVEY ISLAMD SOCIEff LIMITED (A company Ilmlled by guarJntse) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 30 8EPTEMBER 2024 Number of units Cost per unit 16.265.13 15.343.28 Meffic 6- Operatlng m8rgln % Operating surplus or defi¢iVtumover 2024 2023 Rental Income-charftable tsts Rental income 6% 201.833.64 180,745.03 Moldc 7 - Relufn on capital employed IROCEI % Oper81ing surplus or defiuvtotal assets less Qjr1 liabilitiej 2024 2023 Rontsl incomoacharilable Costs Total 8ssets less curront liabilities 186.318.00 172.707.00 Stru¢tur8, gov•manc• and m•n•g•m•nt . Con•tbtutlon The Abbeyfield Canv•y Island Souety Limited is registered as a chartable company Ilmlted by guarantee governed by its Memorandum and Articles of Association. The charity was incorporalod by guarantee on 9th July 1959. It ig a registered charity wilh the Charity Commissi¢Jn. The company 18 8190 a registered HousiThJ Corporation 4$ o R¢gl$t¥r•d Soclol Landbrd as defined by s¢Wul• I to Iho Houslng Act 1996. The societyls wholly engaged in housing 8Ctivities as defined in the Acl. The tru$lee$, are 8180 the directors lor the purpose of c4)mpany law, and vtho 8ep48d during the year were.. M Morgan D Bambrido8 G Fieldwick S H8mpson TVBOX CAPitts Page S
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED IA comp•ny Ilmlted by 9uarnnto•> TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Structure. gov•m•nc• and m•nagem•nt Icontlnugdl b. M•thod• ol appolntm•nt or •l•cllon of Tfust••s All new tnjslees app(xnted by exisbrwJ committee m•mbern after csu1&7110n arwj doliboration. None of the trustees have any benefbcial interest In the company. 7 of the trustses are members of the compony and guarantee to contribute £1 in Ihg avenl of a windin9 UP. New Irustèos undergo an indudion Sessn. The existing cAJmmittee brief them on their responsibilities and the phlk)sophy of the thanty. New trustees are 9lven an introductory p8Gk contalnlng w)186 of koy polkl85 and procedures. The L¥)gTd of truslees, wthich can have up to g) mombern, admlnl$teryJ the chartty. The committee mee15 regularfy lo dIU$S matters. The Office of the ¢harity lor year ended 30th September 2024 were as follows: Chair.. Mr M S Hampson Trgasurgr.. MrCAPitts Fodlitigs rn8n8gor'. Ms D Bambridge ¢. Fln•nGl•l rb•k rn•n•g•m•nt The Trustees have asses8ed Ihe major nsks lo whth the Charity is exposed, in particular se related to the operations and finan¢e$ of Iho Charity. arm1 are sab"sfied thai systems and preduleS are in place to mitigate •xpo$ure to the mai(K risks. The trust8e$ have • risk managemnl Stralegy comprises.. An annual review of the risks that the charity may lace., The eslablishmenl of systems and procedures lo mrtsgalg Ihose risks identlfied In tho plan., Tho implernent81ion of proceduros egned lo minimise any polents'al impact on the charity should those risk5 m8teriakn'80. Pag8 6
THE ABBEYFIELD CANVEY ISLAND SOCIEff LIMITED (A ¢omp•ny Ilmlt•d by guarantse TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 30 SEPTEMBER 2024 Statement ol Tru¥ts••' r•gpon¥lbllltl•$ Th8 Trustees (who 8re a0 the direct of the Charity for the purwJs6s of company lawl are responsiblè for preparing the Trustees. report and the finand•l $tst•ftnts in accordance with •ppll¢8bl¢ Iw and United Kin9dom Accounting Standards (United Kingdom Generally A¢cept8d Accounting Practice). Company law requires the Trustees lo wepare financ1 8latements for each finan81 year. Under Company law, the Tfustees must not ap¢wove the financial statements unless they are $8tssfi8d Ihat they give 8 true and falr view of Ihe state of affairs of the Charity and of Ils incoming Tesource$ and application of resources. induding it5 income and expenditu. for that period. In preparing these financi81 ststements, Ihe Tfuslees are requlred to.. s•l8et sulta& 8ccounling wliues and Ihen appty them con5islently'. observe the methods and prinCipS ol the Charitie5 SORP IFRS 1021- make judgments and accounbng eslimales Ihal are reasonablo and prudent; stste whether apFAi¢able UK Accounting Standards IFRS 1021 have boen fc4lowed, 8ublgCt to any material departures disCh)s and eXp1abn in the finonual statements.. prepare the financial slalemenls on the w'rvj ccfftcem basis unless il i¥ inappropriate lo pr08um• that the Charlty wlll cJ)nlinue in business. The Trustees aro responsiblo for ke'n9 adequate accounting rec(xds th81 are sufficient to shthy and explain the Charity's tran$oclion$ and disdose with r8asonab accuracy al any Ilme the financl•l posllion of the Charfty and enable them lo ènsure that the financial Statements comply the Companies Act 2C4)6. They are also responsible foi saleguarding the assels ol the Charity and hence for taking reasonable $18ps for the prevenllon and detection of fraud and olher irregularities. Dl•cloBure ol Inforni•UoTr to •udllor• E•¢h of th• persons who are Trusleè5 at the Ilm8 when this Trusto88' rgport 18 approved h89 confirn)ed Ihal.. 80 far as Ihal Trustse is aware, Ihern 15 no levant audrl Infomiabon of which tho charivs auditors are unawa, and that Twslee has tsk9n all the steps that ought to have b8en tsken as a Trustee in order to be aware of any relevant audit information and lo &slabli$h that the charity's 8JItOry& are aware of that informalion. Audltw• The auditors, Hasler5 Chartered Accountsnts. havg indicated their willingness to Continue In office. The designated Truste&s will prowse a motion reappointing the 8udilors at a meeting of the Truslee8. Approved 12 May 2025 by order of of and &gned on their behalf by: Tru¥tee8 on M S Hampson (Chair of Trustees) CAPItts Trnstee) [IldV Page 7
THE ABBEYFIELD CANVEY ISLAND SOCIETY UMITED (A company Ilmlted by guarant•• INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED Oplnlon We have oudited the financial Statements of Th& Abbeyrk1 Canvey Island Society Llmlled lthe 'tharftyl for the year endod 30 September 2024 ¥thich comprise th• Statement of financial aclivilias. th8 Balance sheet, the Statement of c8sh flows and the related notès, including • $ummary of Sbgnific8nt accounting policigs. Th8 rinaneial feporting framework that has ten In their prepara"on Is applicabk law and United Kingdom A¢countlng Stand8rds. Including Financial Reporkn'ng Standard 102 The Financi81 Repgrting Standard applicable in the UK and Republic of Irekqnd. (Unrted lQ"ngdom Generalty Accpled Aco)unting Practs'cel. In our opinlon the finandal statemgnts: give a true and falr vlew of the state of the tharitae componls affair& as at 30 September 2024 and of its incoming re50Ufces and appkncalion ol reSr, IncludiThJ its inwme and expenditure for tho year then ended.. have ken property prepared in danc£ with Unrted Kingdom G8neraly Acupted Accountsng Practice,. and have been prepgrwj In aGCQTd8n wlth Ihg requlrements of Iho CINnpanl8s Act 2C#X. Ba•ls for oplnlon We conductod our audrt in acwdanc ¥wlh Intemati1 Stsndar(Is on ALKliling IUKI IISAS IUKI} 8nd opplicable law. Our resSibIlItIeS under those standards are further descrlbgd in the Auditors, responsSblllUes for the audil ol the finanual stalements section of yJr report. We are independent of the ¢h8rilable company in occord8nce with the ethical requirements that are revant to our ausjit of the financial statem8nls in the United Klngdom. induding the Financial Reporting Counul's Elhical Standard. and have fulfilled our other ethical responsibilities in accordanc8 with these requirements. We bdieve that the audit evidence have obtained is Jfficient and approprio18 lo provwje a ba¥1$ for our ¢)pinlon. Conclu8loni r•latlng to golng ¢oncern In audilFng the finon¢ial 8talement8, have Conc1Yed that Ihe Trustees, use of the going c4)n¢em b85is of accountlng in the preparab'on of the financial statements is appropriate. 6aseo on the work vts h8vo performed. V•t h8¥6 rKJt entIfied any material uncertainlies relallng to ovents or condiljons that, individually or col¢11¥81y. may cast signfficanl doubl on the charrtable company'5 ability lo onlinue as a going concem for a of gt lèasl tsvefve months from when the financial ststements are aLJlhori$ed foi issue. Our responsibilltlos and th8 respon8ikn'lities of Ihè Tfu81ees ith respect to going ¢>)ncem are doxribed in the relevant sections of this report. Page 8
THE ABBEYFIELD CAMVEY ISLAND SOCIETY LIMITED IA company Ilmll•d by gu•rantèe) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE ABBEYFIELD CANVEY ISLAND SOCIETY LIIAITED ICONTINUED) Oth•r Inf0mtIon The oth¥f information compfisès the infomiats.on included in Ihe Annual reprt other than the fin8nciBI slalements and our Auditors. report thereon. The Trust are reSpsIb lor the other information contsined withln the Annual report. Our (yinion on the financ1 statemonts th)95 not cover the ¢)ther infcmialion and. except lo the exienl otherwise expliciuy staled in our fepcwl. ¢Jo not express any form of 8ssur8nce conduslon thereon. Our responsibility is to read the other information and. in dolng so. consld8r whether the other Information is malerially inconsistent wilh the finan¢i81 statem?nls or our knedge obiained in the course of the audit, or otherwise appears lo be materially misststed. If identify such material inconsislencigs Of apparent malerial misstalemenis, V+t are required lo d¢temine wthether thi8 givos rise Its 8 material misststement In the financial slalements M688s. If. based on Ihe work have performed. w8 conclLbdg that there 1$ 8 materfal misstalemenl of this other infomatlon. are required to report that fact. We hovo nothing to report in thi8 fogard. Oplnlon on oth•r matt•rn prn•crlb•d by th• CoMp•nI Act 2006 In our opinion. based on the work undertaken in the ojurse of the audlt: the Information glven In the TnJslee8' Rowt for the financial year lor whlth the finanrial 914tement8 are prepared is consistent with the financial stslements. the Trustees. Report has been prepared in accordancg a¢bIe al requirements. M•tt•r• on whl¢h w• ar• r•qulr•d to r•port by •xc•ptlon In th8 light of our kntythedge aThl undorstanding of the charitable company and Its ènvironment obtained in the course of the audrt. have not identified material nmsstalemgnts in the Twstses, Rep. We have nothing lo rewt In raspgct of the frAlowing matte18 In reon lo whlch Companies A¢t 2006 requlres us lo report lo you rf, in our OnIon.. adequate accounting records have not been kept, ty retums gdequalg for our 8udrt hove not been ceived from branches not visited by us,. or the finArbf.il statèm•n19 ar• not in 09rvomenl byiih the LI)Unn9 re(xJrOs am rewmg; or ertaSn disclosures of Trustees. remuneration specified by law are nol made,. or we have nol ceiVed all the information and explanabons v require for our audit., or the TnJ$lees Te not entitled lo prewe ihe finanu81 siatements in acMrdance with the small comp8nies regime and take advantsge of the small ¢ompanios' exemptions in preparing the Trustees. Report and from the r8quiremenl lo pare a Stratsgi¢ Roport. Reponlbllltle8 of trustsei As explained more fully in the Trusle8s' responsi.11tse$ statement, the Trustees (who are also the directors of the charitable comp8ny for the purposes of company wI are s)nsIble for the preparatson of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Tw5tees delemiine is necessary lo enable the preparation of financial stslements that are free from material misstatement. whether due lo fraud or error. In preparing the financial stslements. the Trustees are rgsponsible for asSing the cknaritable companI5 ability lo continue as a going concem. disdosing. as applicable. matters rd8ted lo going eoncem and using the Page 9
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMED IA company Ilmlt•d by guaranteg) INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (CONTINUED) going concem basis of accounting unless the Trustees either intend IbJuld8 the charilable company Of to ease OperaOn¥. or have reallstbc aliem8ti¥o but to do so. Audltors, rnspon$lbllltl•• for lh• audll of th• flnancl•l stat•m•nt• Our objective¥ are lo obtain reason3b assurance about wtsthgr the financlal statements as 8 whole are fr00 ftom material mi38tst6m¢nt, whothgr dug lo fraud or error. and to Issue an Auditors, rnport that indudgs our opinion. Reasonable ossurance is a high level ol assurance. but is not a guarantee that an audll ndUCted in accordance wilh ISAS {UKI will aayS delecl a malerial misslatement when it exists. Misstatements can ¥rise Irom fraud or 8rror and are COnser8d material if, In¢Jividually or in the aggregate. they could reasonably be experted lo influenc• the 8c4)nomic d.$18 of users taken on the basis of thèse financial st8lemenls. Irregularilie$, indLbdln9 fraud. are instsnces ol non<ompliance with laws and regulations. We design procedures In lino wilh our fesponsibilrties. outh'ned a¥8. lo dolect malorial m18ststements in rospgct of irreguiarilies. indvding Iraud. The exteni to whith our procUr¢S 8fe pab of detecting irregularitses. induding fr8ud is detailed below.. We obtained an understsnding of the legal and regulatory fr8mthvCS that are appli¢able lo the entity and dgtemSngd thal the most signrfic8nt are those that.. had a direct effect on the deteminatioll of materi81 amLsnts and di)8vre$ in tho fin8n¢ial 8tatements. These included the UK Companigs Act. Charities Act. Charities SORP IFRS1021', and . do not have a diréct effect on the finoncial sialom8nts but MplIanc wth wthl¢ may be fvndamental to the ch8rlty'8 ability to operate or lo avoid a matèrial penatty. e obtained an undarstanding of how the company are complying with those Iggal and regulatory frameworks by inquiring with management. These inquiries were Corrobled by a review of documentation issued by the Trustees and used lo assess the extent of c4ynFdianc with the relgvont laws and regulalK)ns. W• dlscussod affrtjng the audit engage team r•ading the ryportunllies and incents'ves, Induding management override of conlrds, that may exig1 wlhin the (wnisation for fraud arKI and where fraud miohl 0¢r in the finanaal s¢alements. As a result of perfomiing th8 above. we idenlffied the greatest pol8nti81 for fr8ud In thè folwIng Ar#És, 8nd our Jpecffi¢ procedure¥ performed lo address 11 are Jescrlbed bek)w. The principal risks lo inappropfiatg ioumal entries impacl managomenl bias in accounting 8stimat8s and that of income recognition. Procedures pgrfwne(J to address the58 wero as follows.. . Walklhrough testlng wa8 Carried out to identfy aThJ 8$8e$8 dwn effectiveness of controls managemgnt have in place lo prevenl and deleet fraud. . Substantive testing arnl analybcs were carried out lo ensure that inojme was recxjrded in the c4yrect period. . Understanding hcmt those charg&J wvemance £Idered arKI address&J the potential for overrlde of controLs or other inapFKopfiate influence over the finanual reporbng process. Assessing the appropn"8teness of accountiry esllmates and challenging any Significant assumptsons or judgements made by managemenL Page 10
THE ABBEYFIELD CANVEY ISLAMD SOCIETY LIMITED IA company Ilmlled by guarnTrts•) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE ABBEYFIELD CANveY1SLAND SOCIETY LIMITED (CONTINUEOI . IncorporaliNJ testing of mtynual ioum81 entr5 that were sled thn)u9houl the year. In pa'Cular wo f¢xused on materi81 joumal enlrles. journal entries posted with unusual account combinations, joum81 entrf8s crediting income or cash. aj ioumal enlms with specrfic defined des(xipts'ons. These were scnjtinised for evidence ol unusual 8ntrie$. Bec8U8e of the inherent limitstions o18n al11. there is • risk th81 *ill not detect all irregularities, including those leading lo a material mlsstalement in the finanoal stsl8ments or non-compliance with r8gLblalion. This risk increases the more thal compliance with a 18w or regulation is femoved from the events Iransactlons rofle¢ted in the finan¢i81 statem8nts. 88 wo will less likely lo become aware of instances of nonomplIanGe. The risk is also gr8aler regarding irwulanbes 0¢Mng due to fraud rather than error. as fraud involves intentional nCe31Ml. forg8ry. collusion. omission or misrepresentation. A further description of responsibilitie5 fof the audit of the finanrA81 $18tements is locatsd on the Flnancl81 Repong Cou11.5 website at.. Thi8 dgscrfption foms part of our Auditors, report. U•• ol our r•port This report is made solety to the charitable compan15 trustees, as a body, in 8Lxordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit wk has been und8rtsken so that might stale lo th8 ch8rilab company's Iruslees those matters we are required io stale to them in an Audilors. report and for no other purpos8. To the fullest extent pemitted by law, do noi •ept or assume respon5iblllty lo anyone other than the eharitablg company and Ils members. as 8 tthy. for our audit work, for this rep)rt. or for the opinn5 have formed. H••l•r• Chartered AwJunt8nts Slatulory Audilors Old Sialson Road Loughton Essex IG10 4PL D818.. 12 May 2025 Ha8ler5 are eligible lo act as auditors in lenn8 of sethion 1212 of the Companies Act 2iJ)6. Page11
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED IA ¢ompaDy Ilmltod by guarantso) STATEMENT OF FINANCIAL ACTNITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Unr•strlct•d fund• 2024 Total fund• 2024 Total funds 2023 Incom? from: Oonalions and legacios Ch8ritable activiti•8 Invesiments Other incomo 1,321 190, 745 201.834 1,817 201,834 1,817 142 Total Incom• 203.651 203,651 182.768 Expendltur• on: Ch8rilable aclivitles 190,041 190,041 179,279 Tot*1 •xp•ndltur• 190,041 190.041 179,279 N•t mov•m•nt In fund• 13,610 13,610 3,489 RKoncSllatlon of lund•: Total funds brought forward Net movomenl in funds 172,707 13.610 172,707 13,610 169,218 3,489 Total fund• rrIed fon¥•rd 186.317 186,317 172,707 The Slalemenl of Flnanaal Actlvlll8s Indudes all gains afyJ10880$ r•cogni8ed in the wr. Tho notes on pages 15 to 29 fom part of Ihese financial statsments. Page 12
THE A8BEYFIEU) CANVEY ISLAND socieTY LIMrrED IA company Ilmlted by guarantee) REGISTERED NUMBER.. 00632263 BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Not• Flx•d a•••t• Tangible asset5 Investments 61.507 59.475 12 61.508 59,476 Curr•nt a•••t• Debtors Cagh al bank and in hand 13 7.941 124,983 128,543 143.045 132,924 Creditor8.' amounts falling due within one year 14 (18,235) (19,692) Net current 488•t• 12481Q 113.232 Total a#••t• l••• curr•nt Il•bllltlos 186,318 172,708 Creditors.. amounts lalling due after more than one ye8r 15 (i) N•t a•••t¥ •x¢ludlng p•n•lon ••Ht 186,317 172.707 Total net a*ut• 186.317 172, 707 Charlty fund• Unrestrict•d fvnds 16 186.317 172, 707 Total fund• 186,317 172.707 The entity w88 entitled lo exemption from audit under section 477 of the Companles Act 2006. The memb8fS have not qUired the entFty lo obtsin an audil for the year in question in acthrd8nce wllh sedon 476 of the Companies Act 2006. Howover. an audit 18 required in aGGordance with Secti 145 of the Charities Act 2011. The Tru$lees a¢knowledge their r8SFrfJnsibilities for cc4nplying Vth the requirements of the Act with resp8ct lo accoLFnting records and pYeparalKJn rrf financial slalements. The financial statements have been ppared in accordance the provisions appli¢abl8 to entr(Kgs subject lo the small companies regime. Page 13
THE ABBEYFIELD CANVEY ISLAND SOCIETY ME0 (A company lIm0d by guarantgè) REGISTERED NUMBER: 00632263 BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2024 The financial slatements apwoved autrKYlwJ for issue by the Truslg98 on 12 May 2025 aThJ sned on Ihelr bBhaW by.. S H•mp•on (Ghalr of Truste¢Jl The nol¢8 on page$ 15 to 29 fom) part of thuo financlal ¥talemonts. CAPItt• ITnJst881 Page 14
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMrrED IA company Ilmlled by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 G•nor•l Informatlon The Abbeyfield Canvey Island Soclety Limited is a private incorporated charity. Ilmlted by guarantee, ragistared in England and Wales, wth a company registration number of 00632263. The registered oddress is 103 Long Road, Canvey Island. Essex, SS8 OJB. Aceountlng pollel•• 2.1 Basls ol pr•parntlon of financlal $tat•m•nts Th8 financial statements havo be¢n wep8red in aance wilh the Charities SORP IFRS 1021- Accounting and Reportin9 by Choritie8-. Stsloment of Recommgnd8d Practs'ce applieable ¢harftleg preparing their 8ccounts in accordance with the Flnancial Repo.ng Standard applicable in the UK and Rgpublic of Ireland IFRS 1021 leffe¢tive 1 January 20191, the Financial R¢porbng Standard applicable in the UK and RepublK ol Ireland IFRS 1021 and the Companies Act 2006. The Abbeyfiekj Canvey Island Swety Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recoJnised at hi8loriGal ojst or transaGtKn value unles8 olheThYlse slated in th8 r8bvanl accounting wlicy. 2.2 In¢om• All inctime 18 recwnis•d onco tho Charity hNs entitl8ment lo the income, 11 is wobabl8 th8t th Income will be received and the amunl of income receivable can be measured reli8bly. Incomg tax rKoverable in reLgb'on to Investmenl Inc4xM 1$ r¢cognised al Ihe tlme tho Investment Income 18 receivable. Other income 1$ recognlsed in the pen"¢)J in whic il is receivable and to the extent the goods have been provided of on o)mpl8llon of servlce. 2.3 Exp•ndltur• Expenditure is recognised i¥ 8 legal tx c4)nstruciivo oblyation to tr8nsler 8conoml¢ bènefit to a third party. il is probable that • tran$ler of ecx)nomi¢ benèfits wlll b• rgquirod In 5elUement and the amount of the obligation can be mg8sured reliabty. Exwnditure 15 classified by activity. The rx)sls of each activity are made up of the tot81 of dlrect C051s and shared costs including suppJrt costs involved in undertaking eath activity. Direct costs attributable to a sing activity are allocated direcuy to that acts'vity. Shared 81S whith contribut to more than one activity and support costs lch are nol allributable lo a singl8 activity are apportioned beh•thn those activi118s on a basis consistent %wth the usè of rngourc8s. Central staff costs are allocated on the basis of time gpenl. and deprotyation charges akated on th8 of tho asset's use. Expenditure on charitable activities is Inojrred on direuiy undertaking the acbvitigs which fvrther the Charity's obj'ectives, as weN as any assooaled suprvt (xxts. All expendlture is indusive of irrgcoverdble VAT. Page 15
THE ABBEYFIELD CANVEY ISLAND SOCIEff LIMITED IA c¢>mpany Ilmlted by guaranto•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Accountlng pollcle• l¢ontlnu•d 2.4 Intor•st re1¥•bI• InloreBI M fvnd¥ held on doposit 18 induded receivab and tha amount can be measured reliably by the Charity.. this is normalty upon nOtsfiCat of the Interest pald or payable by the institution wilh whom Ihe funds are dew)sÉled. 2.5 T•nglbl• flx•d ••wts and d•pr•cl•Oon Tan9ible fixed a88el$ costing £1,000 or mof8 afe caprtalised and recogni$&d when future economic benefits are probable and the cost or value of tha asset can ba measured r8liably. Tangible flxed assets are initsally recryJnised at cost. After recognlllon, under the tx1 model, tangible fixed assets are mea$ured al cost $ 8coJmubaled depredation and any accumulated impaimenl hJsses. Al costs incurred to bring a lang1b fwed a¥set Into rt¥ intended worklng condition should be induded in the measurement of ¢osl. Dgpraci8tlon is charged so as to e8t0 the ¢osl of tangible fixed assets1gSS their radal valug over their eslimaled usefvl lives, Depre¢l8tlon 18 provided on the folbwng ba8i8'. Freehold proporty Fixlufes and fittings Office frquipmenl Other fixed assets 25% Straight Line 15% Reducing 8alanc• 25% Reduring Balance 15% Reducing Bakqn 2.6 In¥tm•nts Fixed as5el investments are a fom of finanual instrument aThl are inltially r8c<¥JnSsed al their transaction cost and subsequentty mSured al fair value al the Balance sheet dale, unless the value cannot be measured reliably In which case it is measured al eo$t less impaimienl. Inveslm¢ni gains and losses. whether fealised or unrealised. are &)mbined and presented 88 'GainsllLosses) on Inv8slments' in tho Stalemgnt of financial acbvits"es. 2.7 D•bt0rn Trade and other debtors are recognised al the settloment amount after any trade dIsCnI offered. Pr8payments are valued at the amount prepaid nel of any tro¢Je disGounts due. 2.8 Cash at bank nd In hand Cash al bank a1 in hand indud•s cash and short-lerm highly Itquid investments with a short malurtty of three nthS or less from the dats of acquisrtion or opening of the deposit or simllar a¢o)unL Page 16
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED IA company Ilmlt•d ty gu¥rnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR eNDED 30 sepTEMBER 2024 Aecountlng pollclm (contlnuod) 2.9 Uabllltlu •nd provl•lon• Liabilities are recognlsed when there 1$ an oblbg8liry) at th8 8alance sheet date as a result of a past event. it is probable that a transfer of economlc b8nefil will b8 required In getrjennl, and the amount of the selllefflenl can be estiffkited reltAy. Liabilities are recognised al the amount thal the Charity antkipales il vrill pay lo settle the debt ar the amount it has received as advanced payments for Ihe goods or SgTViCO$ it must provide. Provlslons are m8asur8d al the besl 88timale of Iho amounts roqulred to 8ettlts the obligotlon. Where the effect ol the timè value of money is malerial, the provision is based on the present valua of rho amounts. discounied al the Pfe-lax discount rote Ihal reftects the rtsks specific lo the Ilabillty- Tho unwndlng of th8 di$Unt is reeognised in the Statement of flnan¢l81 actlvltles as a finance co81. 2.10 Flnancl•l In•tNm•nts The Charity only has financial assets oTh1 finandol Ilabllltles ol a kind that qualify as basic financial Instruments. Basic financial instruments are initially recognised al tranSan value and subsequ•ntty measured al tholr seitbemenl valuo with tho excopllon of bank 108ns whlch are $ubsequenlty measured al amortis•d cost using the effective interest method. 2.11 Fund a¢¢ountlng General funds are unrestrfjcted fvnds wthlch are avallable for use al Ihe d15Cfelon of the Trustees In fvrtherance ol the general objectives of the Charity and whith have not been designaled for olher Deslgnaled fund$ compri68 unrestricled lurKls that h8Ve IOn set 8s6d8 by the Trustees for particular purposes. The oim and use of each dosgnaled lund 1$ set out in the nolo8 lo the finanGlal ststemenl$. Investrnenl incorne. gains and108808 are alocaled to the appropri8t8 fund. Page 17
THE ABBEYFIELD CANVEY ISLAND SOCIEfi UMrrED (A company Ilmlled by guarantso) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Incom• from don*tlons and legacl•s Unr••trl¢t•d lund• 2024 Total fund• 2024 Donations Unrestrkled funds 2023 Total fvnds 2023 Donotions 1.321 1,321 Incom• from ch•rlt•bl• actlvltl•• Unrostrlcted funds 2024 Total funds 2024 Rèntd Incom8 Losses Ihrough Vold8 211.850 {10,016} 211.8SO {10,016) Total 2024 201,834 201,834 Unrestricted fvnds 2023 Tol81 fvnds 2023 Rental Income Lo3 through V(4ds 203,200 (22.455) 203,200 (22,455) Total 2023 180,745 180.745 Page 18
THE ABBEYFIELD CANVEY ISLAND SOCIE LIMED (A company Ilmitsd by 9u•r•nt••l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Inve•tment Incom• Unrn¥trlcted fund• 2024 Total fund¥ 2024 Interest R8ceivabt8 1.817 1,817 Unrestrid8d fund8 2023 Total nds 2023 Interest Rgceivab Oth•r Incomlng r•sourc•s Total fund• 2024 Total 2024 Unreslricted fvnds 2023 Total funds 20E3 Bank compensatic 142 142 Pago19
TIIE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (A ¢ompaThy Ilmlled by guarants¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EPIOED 30 SEPTEMBER 2024 Analy¥ls of •xp•ndltur• by actlvltl•s Advltl•• undertaken dlr•ct 2024 Support costs 2024 Tot•1 fund• 2024 CharltatrA• Activiti8$ 170,285 19,756 190,041 Activrfies undertaken directly 2023 Support costs 2023 To181 fvnds 2023 Choritable Activlli88 161,106 18,173 179,279 Analy•l• of dlr•¢t ¢ts Total fund¥ 2024 To181 funds 2023 Staff costs Dopieclaiion Food 8fKI hoUMhoj wndrlo Telephone thaTges House cleaning and malnlenan 89,251 11.125 21.104 1,537 81.386 10.503 22,536 2, 168 t li Heating and lighling Repairs and maintenan Insurance Rates and water Care line fges Other costs Legal and professional Recruitment expenses Loss on disposal of fixed assets 4.499 10,257 12.822 4,819 6,252 815 3A79 1,511 670 2.144 3.997 8,242 15, 138 4,625 6,806 1,505 3,687 513 170.285 161, 106 Page 20
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIED (A company Ilmlted by guarnntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Analy•l¥ ol exndIt by •cllvltl•s (contlnu•dl An•ly•l¥ ol support co•ts Total funds 2024 Tol81 funds 2023 Staff costs Stsff Iralning Prfnling. poslage arKI stavonery Leg81 and professieal Sundry expenses Bank charges Audit fee8 11,019 10,071 192 1.750 789 2,018 381 128 4.740 19.756 18,173 AudRor•' rgmuneratlon 2024 2023 Fees payable to th• Charlvs audrtor for the audit ol the Chattys annual aUnts 4,980 4, 740 Staff ca•t* 2024 2023 Wages 4rKI 8aJari89 100,270 91.457 100,270 97,451 Page 21
THE ABBEYFIELD CANVEY ISLAND SOCIEf( LIMITED (A company 11m1t by gu¥rnnto0) NOTES TO THE FINANCIAL STATEMENTS FOR TME YEAR ENDED 30 SEPTEMBER 2024 8taff t¥ {¢ontlnu•d) The averdge number of persons emph)yed by tho Charity during the year was as foMow5". 2024 No. 2023 No. HOU stsff Office Staff No empkyee recelved remunerntv)n amounliTrJ to mrKe than £60.000 in elther year. 10. Tru•lv•' rnmun•rotlon and •xPnl Dudng the year, no Trustees r•¢elvod any romunoration or ottr ben?ffts (2023- £NIL). During the year ended 30 September 2024, Trustee expenses have been In(JJrred (2023. £NIL). Page 22
THE ABBEYFIELD CANVEY ISLAND SOCIE LIMITED (A company Ilmlled by guar•nt•e} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 11. Tanglble flx•d •••ets Frnehold Flxtur•• and prop•rty fittlng¥ Olnu Other fix•d •qulpm?nt a•••ts Totsl Cogt or valuatlon Al 1 October 2023 Additions Dlsposal$ 395.493 377 46,507 674,706 15,301 (19,249) 10.924 (19,2491 At 30 Soptember 2024 395.493 224.004 1.370 49,891 670,7S8 Depreclatbon At 1 October 2023 Charg0 for thg yeor On dlsposals 395,493 190.374 7,741 {17.105) 377 248 28,987 3,136 615,231 11,125 117,1051 AI 30 Seplomber 2024 395,493 181,010 625 32,123 609,251 N•1 book valu• AI 30 Seplember 2024 745 17,768 61,S07 At 30 September 2023 41,955 17,520 59,475 Page 23
THE ABBEYFIELD CANVEY ISLAND SOCIE LIMITED IA company Ilmlted by guarant••) hlOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 12. Flx•d ••t Investm•nts Unll*ted Inv••trn•nts Co•t or valuatlon Al 1 October 2023 AI 30 S8plember 2024 N•t book valu• At 30 Seplember 2024 AI 30 September 2023 At 1 Octobor 2023 and 30 September 2024 the dwrity held a £1 invgstrngnt in Abbeyfield Deben Extra Cafe Souety Limit1 whth rekqles to one share. Page 24
THE ABBEYFIELD CANveY ISLAND SOCIETY LIMITED (A comp•ny Ilmltsd by 9uarnnt) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 13. D•btorn 2024 2023 Du• wlthln on• yMr Trode debtors Othor debtors Prepaymen15 #nd accxued incom• 300 7,641 14.013 14,502 7.941 14. Credltorn: Amounts hlllng due wlthln on• ymr 2024 2023 Trade rredilo Olhef creditors Accruals and defed irKome 2, 722 10,187 6,783 7,902 18.235 19,692 15. Cr•dltor•: Amount• lalllng du• •ft•r more than on• y•ar 2024 2023 Other n$ The credilof relates lo an oulstandiThJ balanc• on the charitys mortgage with Santandgr Bank PIC and Is held lo lacilitste ¢Jeed relention. Page 25
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (A comp•ny Ilmlted by guarnniI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 16. Statem•nt ol lund• statement of fun - current year Baln¢• at B•l•n¢e at 1 ottor 2023 S•pt•mb•r 2024 Incom• Expendltur• Unr•Jtrlct•d fund• D••lgnat•d lund¥ 800 De6ignal8d Funds- Sodal Fund G•noral fundi General Funds- all fund8 171.907 203,651 1190,041) 185,517 T)tal Unr••trl¢t•d lund• 172.707 203,651 {190,0411 188,317 Social FUTKI IDesign8tedl - This relates lo lunds set oside to fvnd social events and outlngs held lor the resIdts. Page 26
THE A88EYFIELD CANVEY ISLAND SOCIETY LIMITED (A company Ilmlled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 16. Statsm•nt of funds Icontinu¢d) ststorn•nt of fund• - prlor y•*r Balance el 30 September 2023 8818nce at 1 Oclober 2022 Transfers iOut Income Expgnditu Unr•Jtrlcted fund• D•slgnatsd lund• Designaled Funds- &Kial Fund 8CQ G•n•ral funds General Funds- all lunds 169.218 182,768 (179,279) 171,90T Tot•1 Unr•itrlct•d fvnd• 169.218 182,768 (179,279) 172, 707 Page 27
THE ABBEYFIELD CANVEY ISLAND SOCIETY LIMITED (A company Ilmlt•d by gu•rnnlwl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SÉPTEMBER 2024 17. Summary ot funds Summary of fundi- Curr* year B•l•nc• at 8al•nc• •t 1 O¢tob•r 2023 Seplemb•r 2024 In¢omo Exyndlture 800 185,S17 Designated funds General funds 171.907 203,651 1190,041) 172.707 203.651 (190,041) 186,317 Summary of lund•- prlor year Balance al 30 September 2023 Balance 81 l October 2022 Tr8nsf8rs inlout IrKtxM Expnditurg Deslgnaled fvnd8 G8n8r81 funds 169,218 182,768 (179,279) (800) 171,907 169,21 8 182, 768 (179,279) 172, T07 Page 28
THE ABBEYFIELD GANveY ISLAND SOCIETY LIMITED (A comp•ny IlmM•d by gu•rnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 18. AnAly•l• of n•t a•Mt• b•tw••n fuThd¥ Anaty*l• ol net aswts betwvn lund• - currnnt porfod Unv•strfded fund• 2024 Tot81 fund• 2024 61.507 Tangible fixed assets Fixed as591 invostments Current assels Creditors due one year Creditor5 due In more than one year 61.507 143.045 (18.2351 (1) 143,045 118.2351 (11 186.317 186,317 Totsl Analy•l• of n•t a•••ts b•tw••n fund• - prlor perlod Unreslrtcled lunds 2023 Total lunds 2023 TangIb fixed as8e¢s Fixed asset investments Current assets Creditors due within cK)e year Creditors due in more than one year 59,475 59,475 132,924 (19,692) (i) 132,924 (19,692) (1) Total l T2, Tor IT2, 707 19. R•lat•d party ir8n•actlon• Dudng the ye8r, no related p8ty tr8nsacUons occurred12023: £Nill. Page 29