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2020-12-31-accounts

Company number 0708411 (England and Wales) Charity number 208819

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

(A company limited by guarantee)

DIRECTORS' AND TRUSTEES' REPORT UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

CONTENTS

Page
Reference and Administrative information 1
Trustees and Directors' report 2 - 3
Statement of Financial Activities 4
Balance sheet 5
Notes to the accounts 6 - 10
Independent Examiner's Report 11

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity name Abbeyfield (Chichester) Society Limited Company Registration number 00708411 Charity Registration number 208819 Directors and Trustees D S Martin I B Peterkin (Chairman) A Thompson-Dyke V J Rogers A Irwin-Brown

Secretary I B Peterkin General manager H D Sque Registered office and Oakshade Operational address Market Avenue Chichester West Sussex PO19 1JR Reporting accountants AccountArt 5 St Thomas Avenue Hayling Island Hampshire PO11 0ET Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

1

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

ANNUAL REPORT OF THE TRUSTEES AND DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees and directors present their report and accounts for the year ended 31 December 2020.

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee and is therefore governed by a memorandum and articles of association. The company was incorporated on 17 November 1961.

Recruitment and Appointment of the Trustees

The directors of the company are also the trustees of the charity for the purposes of charity law. There is no minimum or maximum length of service and all new trustees have a basic review made into their background including a check with the Criminal Records Bureau before they are accepted.

Risk Management

The Trustees have reassessed the future direction for the Society having reviewed environmental trends and opportunities. We have adopted a set of assumptions upon which to approve business strategies, plans and targets to improve performance.

The Abbeyfield Society has standards and guidelines which are used. Monthly, quarterly and other systems are used to monitor and adjust performance and to assess and manage risk. A number of outside inspection agencies periodically review aspects of performance.

Direction, management and service delivery

The directors are required to make judgements and assessments in the process of preparing the accounts periodically. Furthermore they are responsible for ensuring that the accounting records comply with the Company Act 2006. Finally they are responsible for safeguarding the assets of the Company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for reviewing and developing visions of the future, fundamental direction, for approving the Managements’ annual business plan, monitoring and supporting the management’s execution of approved plans.

A Management Team led by a General Manager delivers a business plan approved by the Board, an offering to the market and a service to the residents. It reports to the Board quarterly, as a minimum.

The Chairman manages Board activities, relations with external institutions and with Abbeyfield networks. A directing Board of Trustees meets 6 – 10 times per annum to consider directions, key strategies and overall performance. As rooms are becoming vacant, they are being upgraded and kept fit for purpose.

Objectives and Activities

The Society manages and rents accommodation to elderly People. We provide support in our houses and also in their own homes with the care, security and Christian love to which they are entitled. At the same time it aims to foster a community spirit and a sense of independence for each individual.

In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on fee-charging.

2

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

ANNUAL REPORT OF THE TRUSTEES AND DIRECTORS

FOR THE YEAR ENDED 31 DECEMBER 2020

Achievements and Performance

The Society has 2 homes which are successful. The market is now very much more aware of the Society’s offering as a result of a focused marketing drive.

2020 has been a difficult year which the Manager and Housekeepers have dealt with admirably. The income has dropped as residents have had to move onto care facilities. Unfortunately, the vacant rooms have not been re-let because of the pandemic which has stopped the Manager being able to show prospective residents around the facilities. On a positive note, the staff have managed to avoid any cases of Covid entering either house by shutting them down to none essential staff and tradesmen. The trustees have had a series of meetings over zoom during the past year with the Manager who has kept them well informed. All residents and staff have now been vaccinated and the society is looking forward to a better year as things start to open up.

Financial Review

The charity's main source of income is from rents receivable. For the current year, the statement of financial activities shows a net loss of £3,463 and the assets and reserves stand at £2,606,874 in total assets set out on the Statement of Financial Activities.

Principal Funding Sources

The residents pay a monthly rent which is calculated on the basis of the proportion of the size and location of their room. This rent is reviewed each May on the basis of cost inflation and the need to generate a surplus to cover loss of revenue income should that occur.

The Society also receives interest on its investments and occasionally income from legacies and donations.

Investment & Reserves Policy

The charity periodically reviews its investment policy to establish whether funds can be invested, reinvested or reallocated. Monies have typically been invested in a Treasury Deposits but are now invested in a Rathbones portfolio. All interest earned is re-invested.

Trustees and Directors' responsibilities

The trustees and directors are responsible for preparing the report and accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss for that period. In preparing those accounts, the directors are required to:

The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the board on 12 May 2021 and signed on behalf of the board by

----------------------------------------------I B Peterkin Board of trustees

----------------------------------------------General Manager of Management Team

3

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
Incoming resources
Incoming resources from generated funds:
Legacies and donations
Investment income (2018-2020)
Incoming resources from charitable activities:
Residential charges receivable
At Home income generated
Total incoming resources
Resources expended
Costs of generating voluntary income
Charitable activities:
Costs of providing residential accommodation
4
Governance costs
Total resources expended
Net incoming resources before transfers
Gains and losses on revaluations of Land, Buildings & Investments
Net movement in funds for the year
Total funds at 1 January 2020
Total funds at 31 December 2020		 2020
£
Restricted
Funds
-
-
-
-
-
100
-
100
(100)
-
(100)
(1,477)
(1,577)		 2020
£
Designated
Funds
-
-
-
-
-
-
-
-
-
-
-
45,000
45,000		 2020
£
Unrestricted
Funds
5,290
19,011
246,780
25,651
296,732
-
311,047
1,425
312,472
(15,740)
12,377
(3,363)
2,566,814
2,563,451		 2020
£
Total
Funds
5,290
19,011
246,780
25,651
296,732
-
311,147
1,425
312,572
(15,840)
12,377
(3,463)
2,610,337
2,606,874		 2019
£
5,000
-
349,287
-
354,287
-
316,087
39
316,126
38,161
51,034
89,195
2,521,142
2,610,337

All recognised gains and losses are reflected through the Statement of Financial Activities, and therefore no separate Statement of Total Recognised Gains and Losses is disclosed.

4

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

Company number:

00708411

BALANCE SHEET

AS AT 31 DECEMBER 2020

Notes
Fixed assets
Tangible assets
7
Investments
8
Current assets
Debtors
9
Cash at bank and savings
10
Creditors: amounts falling due within one year
11
Net current assets
Net assets
Charity funds
14
Restricted fund
Designated funds
Unrestricted funds		 £
13,041
210,786

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities;

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The accounts were approved by the board on 12 May 2021 and signed on behalf of the board by

I B Peterkin Director

5

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1 Principal accounting policies

Basis of accounting

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Statement of Recommended Practice, Accounting by Charities issued in March 2005 and the Companies Act 2006. The accounts have also been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

Turnover

Turnover represents the invoiced value of goods and services supplied by the company, net of VAT.

Freehold Land and buildings

Freehold Land and buildings are held for lettings and are stated at current market value.

Depreciation

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery 10% reducing balance

Pensions

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2
Legacies and donations
Other donations		 2020
Restricted
Funds
£
-
-		 2020
Designated
Funds
£
-
-		 2020
Unrestricted
Funds
£
5,290
5,290		 2020
Total
Funds
£
5,290
5,290		 2019
Total
Funds
£
-
-

6

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

3
Investment income
2020
Restricted
Funds
£
Bank interest
-
4
Resources expended
2020
Restricted
Funds
£
Costs of generating income
Resident days out costs/ residents use
-
-
Costs of providing residential accommodation
Housekeeping
-
General managerial house expenses
-
Light and heat
-
Licenses
-
Telephone
-
Rates and water
-
Insurance
-
Services to property
-
Approved projects
Room refurbishment
Gardens and grounds
-
Miscellaneous
-
Wages, salaries and staff training
-
Pension contributions
-
Administration expenses and travel costs
-
Printing, postage and stationery
-
Advertising and marketing
-
Affiliation fees
-
Depreciation
-
-
Governance costs
Accountancy
-
-		 2020
Designated
Funds
£
-
2020
Designated
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2020
Unrestricted
Funds
£
-
2020
Unrestricted
Funds
£
-
-
31,498
349
11,220
105
3,268
11,367
5,995
14,810
-
18,792
6,984
1,537
186,898
670
120
2,451
2,141
5,091
-
308,404
1,425
1,425		 2020
Total
Funds
£
-
2020
Total
Funds
£
-
-
31,498
349
11,220
105
3,268
11,367
5,995
14,810
-
18,792
6,984
1,537
186,898
670
120
2,451
2,141
5,091
-
308,404
1,425
1,425		 2019
Total
Funds
£
-
2019
Total
Funds
£
-
-
33,230
9,529
11,650
901
2,762
10,059
4,522
17,463
4,840
23,891
5,770
217
170,557
1,317
3,436
2,542
4,397
4,799
1,460
313,351
39
39

7

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

5
Staff costs
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
Salaries and wages
-
-
186,898
-
-
186,898
The average monthly number of employees during the year was as follows:
House staff
No employees received remuneration amounting to more than £60,000 in either year.
6
Net incoming resources
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
This is stated after charging:
Depreciation of owned fixed assets
-
-
-
7
Tangible fixed assets
Land and
buildings
£
Cost/valuation
Cost or valuation
1,850,000
At end of year
1,850,000
Depreciation
At beginning of year
-
At end of year
-
Net book value
At 31 December 2020
1,850,000
At 31 December 2019
1,850,000
If the land and buildings held for letting had not been revalued it would have been included at the		 5
Staff costs
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
Salaries and wages
-
-
186,898
-
-
186,898
The average monthly number of employees during the year was as follows:
House staff
No employees received remuneration amounting to more than £60,000 in either year.
6
Net incoming resources
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
This is stated after charging:
Depreciation of owned fixed assets
-
-
-
7
Tangible fixed assets
Land and
buildings
£
Cost/valuation
Cost or valuation
1,850,000
At end of year
1,850,000
Depreciation
At beginning of year
-
At end of year
-
Net book value
At 31 December 2020
1,850,000
At 31 December 2019
1,850,000
If the land and buildings held for letting had not been revalued it would have been included at the		 5
Staff costs
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
Salaries and wages
-
-
186,898
-
-
186,898
The average monthly number of employees during the year was as follows:
House staff
No employees received remuneration amounting to more than £60,000 in either year.
6
Net incoming resources
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
This is stated after charging:
Depreciation of owned fixed assets
-
-
-
7
Tangible fixed assets
Land and
buildings
£
Cost/valuation
Cost or valuation
1,850,000
At end of year
1,850,000
Depreciation
At beginning of year
-
At end of year
-
Net book value
At 31 December 2020
1,850,000
At 31 December 2019
1,850,000
If the land and buildings held for letting had not been revalued it would have been included at the		 5
Staff costs
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
Salaries and wages
-
-
186,898
-
-
186,898
The average monthly number of employees during the year was as follows:
House staff
No employees received remuneration amounting to more than £60,000 in either year.
6
Net incoming resources
2020
2020
2020
Restricted
Designated
Unrestricted
Funds
Funds
Funds
£
£
£
This is stated after charging:
Depreciation of owned fixed assets
-
-
-
7
Tangible fixed assets
Land and
buildings
£
Cost/valuation
Cost or valuation
1,850,000
At end of year
1,850,000
Depreciation
At beginning of year
-
At end of year
-
Net book value
At 31 December 2020
1,850,000
At 31 December 2019
1,850,000
If the land and buildings held for letting had not been revalued it would have been included at the		 2020
Total
Funds
£
186,898
186,898
2020
16
2020
Total
Funds
£
-
Plant and
machinery
£
89,965
89,965
72,114
72,114
17,851
17,851		 2019
Total
Funds
£
176,683
176,683
2019
16
2019
Total
Funds
£
1,460
Total
£
1,939,965
1,939,965
72,114
72,114
1,867,851
1,867,851
following historical co
2020
£
1,115,678		 st:
2019
£
1,115,678

Land and buildings were valued on an open market basis on 31 December 2015 by Stride & Son. The charity has been unable to obtain a more current valuation as no access to either home is allowed. This will be rectified during the current year.

8

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

8
9
10
11		 Investments
I
Cost/valuation
At beginning of year
Additions
Investment income
Revaluation
At end of year
Listed investments
Debtors
Trade debtors		 nvestments in
subsidiary
undertaking
£
-
-
-
-
-		 Other
investments
£
385,916
130,000
19,011
12,377
547,304
2020
£
547,304		 2020
£
2,800
10,241
13,041
210,781
-
5
210,786
2020
£
1,816
17,861
12,431
32,108		 Total
£
385,916
130,000
19,011
12,377
547,304
2019
£
385,916
2019
£
3,178
7,525
Other debtors
Bank balances
Current accounts
Savings accounts
Petty cash
Creditors: amounts falling due within one year
Trade creditors
Other taxes and social security costs
Other creditors
10,703
368,399
-
5
368,404
2019
£
3,546
9,092
9,899
22,537

9

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

12
Creditors: amounts falling due after
Other creditors
13
Provisions for liabilities
14
Statement of funds
Unrestricted funds
General funds
Prior period adjustment
Total general funds as restated
Designated funds
Sinking fund
Restricted funds
Residents activities and days out		 one year
Brought
Forward
£
2,566,814
-
2,566,814
45,000
(1,477)
(1,477)
2,610,337		 Incoming
Resources
£
296,732
-
296,732
-
-
296,732		 2020
£
-
Resources
Expended
£
(312,472)
-
(312,472)
-
(100)
(100)
(312,572)		 Transfers and/
or revaluations
£
12,377
-
12,377
-
-
12,377		 2019
£
(31,189)
Carried
Forward
£
2,563,451
-
2,563,451
45,000
(1,577)
(1,577)
2,606,874

Designated funds

The trustees have set up a policy of transferring £5000 per annum to a designated 'Sinking Fund' to provide for future major works to the properties providing there is a surplus in the year.

Restricted funds

The Residents Days Out Fund and residents use Fund was generarted by a legacy from Gladys Jamieson in March 2010. A legacy from Jean Edwards was donated towards residents activities.

15
Analysis of net assets between funds
2020
Restricted
Funds
£
Intangible assets
-
Current assets
(1,577)
Creditors due in one year
-
At end of year
(1,577)		 2020
Designated
Funds
£
-
45,000
-
45,000		 2020
Unrestricted
Funds
£
547,304
180,404
(32,108)
2,563,451		 2020
Total
Funds
£
547,304
223,827
(32,108)
2,606,874		 2019
Total
Funds
£
385,916
379,107
(22,537)
2,610,337

10

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

ABBEYFIELD (CHICHESTER) SOCIETY LTD(THE)

I report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 2 to 9.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

V J Rogers

Chartered Certified Accountant

AccountArt

5 St Thomas Avenue Hayling Island Hampshire PO11 0ET

Date:

11