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 2021
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 D N Rigglesford (appointed 31 December 2021) 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 2021
The trustees and directors present their report and accounts for the year ended 31 December 2021.
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.
We are delighted that one of our staff received the BME for dedication during Covid lockdown to our residents.
2
ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
ANNUAL REPORT OF THE TRUSTEES AND DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2021
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.
2021 has been a another difficult year which the Manager and Housekeepers have dealt with admirably. The income has increased as residents have been able to move following the easing of restrictions . The trustees are now able to meet in person and have had some employment issues to resolve which occured due to the pandemic and vaccinations. 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 surplus of £65,229 and the assets and reserves stand at £2,672,103 in total assets set out on the Statement of Financial Activities. Southern Water realised in February 2021 that they hadn't been billing the charity for one of the homes and sent a huge bill of £5432 to cover April 2019 to October 2020. This is a one off and in future the bills will settle down. Southern Water did acknowledge their mistake and apologised with a reduction in the fees.
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:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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 26 May 2022 and signed on behalf of the board by
----------------------------------------------I B Peterkin Board of trustees
----------------------------------------------General Manager of Management Team
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ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes Incoming resources Incoming resources from generated funds: Legacies and donations Investment income 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 2021 Total funds at 31 December 2020 |
2021 £ Restricted Funds - - - - - 100 - 100 (100) - (100) (1,577) (1,677) |
2021 £ Designated Funds - - - - - - - - - - - 45,000 45,000 |
2021 £ Unrestricted Funds 5,000 - 267,174 28,869 301,043 - 285,639 725 286,364 14,679 50,650 65,329 2,563,451 2,628,780 |
2021 £ Total Funds 5,000 - 267,174 28,869 301,043 - 285,739 725 286,464 14,579 50,650 65,229 2,606,874 2,672,103 |
2020 £ 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 |
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.
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ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
Company number: 00708411
BALANCE SHEET
AS AT 31 DECEMBER 2021
| 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 Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets Charity funds 13 Restricted fund Designated funds Unrestricted funds |
£ 6,663 233,962 |
|---|---|
For the year ending 31 December 2021 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 26 May 2022 and signed on behalf of the board by
Mrs V J Rogers Director
5
ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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 |
2021 Restricted Funds £ - - |
2021 Designated Funds £ - - |
2021 Unrestricted Funds £ 5,000 5,000 |
2021 Total Funds £ 5,000 5,000 |
2020 Total Funds £ 5,290 |
|---|---|---|---|---|---|
| 5,290 |
6
ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
| 3 Investment income 2021 Restricted Funds £ Bank interest - 4 Resources expended 2021 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 - IT maintenance and consumables - Advertising and marketing - Affiliation fees - Depreciation - - Governance costs Accountancy - - |
2021 Designated Funds £ - 2021 Designated Funds £ - - - - - - - - - - - - - - - - - - - - - - - |
2021 Unrestricted Funds £ - 2021 Unrestricted Funds £ - - 30,034 - 12,212 792 3,128 6,175 5,523 20,111 - 9,400 6,525 2,171 174,217 645 192 4,599 2,220 3,314 5,159 - 286,417 725 725 |
2021 Total Funds £ - 2021 Total Funds £ - - 30,034 - 12,212 792 3,128 6,175 5,523 20,111 - 9,400 6,525 2,171 174,217 645 192 4,599 2,220 3,314 5,159 - 286,417 725 725 |
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 |
7
ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
| 5 Staff costs 2021 2021 2021 Restricted Designated Unrestricted Funds Funds Funds £ £ £ Salaries and wages - - 174,217 - - 174,217 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 2021 2021 2021 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 Additions - At end of year 1,850,000 Depreciation At beginning of year - At end of year - Net book value At 31 December 2021 1,850,000 At 31 December 2020 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 2021 2021 2021 Restricted Designated Unrestricted Funds Funds Funds £ £ £ Salaries and wages - - 174,217 - - 174,217 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 2021 2021 2021 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 Additions - At end of year 1,850,000 Depreciation At beginning of year - At end of year - Net book value At 31 December 2021 1,850,000 At 31 December 2020 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 2021 2021 2021 Restricted Designated Unrestricted Funds Funds Funds £ £ £ Salaries and wages - - 174,217 - - 174,217 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 2021 2021 2021 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 Additions - At end of year 1,850,000 Depreciation At beginning of year - At end of year - Net book value At 31 December 2021 1,850,000 At 31 December 2020 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 2021 2021 2021 Restricted Designated Unrestricted Funds Funds Funds £ £ £ Salaries and wages - - 174,217 - - 174,217 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 2021 2021 2021 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 Additions - At end of year 1,850,000 Depreciation At beginning of year - At end of year - Net book value At 31 December 2021 1,850,000 At 31 December 2020 1,850,000 If the land and buildings held for letting had not been revalued it would have been included at the |
2021 Total Funds £ 174,217 174,217 2021 14 2021 Total Funds £ - Plant and machinery £ 89,965 4,730 94,695 72,114 72,114 22,581 17,851 |
2020 Total Funds £ 186,898 |
|---|---|---|---|---|---|
| 186,898 | |||||
| 2020 16 |
|||||
| 2020 Total Funds £ 1,460 |
|||||
| Total £ 1,939,965 4,730 |
|||||
| 1,944,695 | |||||
| 72,114 | |||||
| 72,114 | |||||
| 1,872,581 | |||||
| 1,867,851 | |||||
| following historical co 2021 £ 1,120,408 |
st: 2020 £ 1,115,678 |
Land and buildings were last 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 2021
| 8 9 10 11 |
Investments I Cost/valuation At beginning of year Investment income Revaluation At end of year Listed investments Debtors Trade debtors |
nvestments in subsidiary undertaking £ - - - - |
Other investments £ 547,304 - 50,650 597,954 2021 £ 597,954 |
2021 £ 2,882 3,781 6,663 233,957 - 5 233,962 2021 £ 15,619 17,474 5,964 39,057 |
Total £ 547,304 - 50,650 |
|---|---|---|---|---|---|
| 597,954 | |||||
| 2020 £ 547,304 |
|||||
| 2020 £ 2,800 10,241 |
|||||
| 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 |
|||||
| 13,041 | |||||
| 210,781 - 5 |
|||||
| 210,786 | |||||
| 2020 £ 1,816 17,861 12,431 |
|||||
| 32,108 |
9
ABBEYFIELD CHICHESTER SOCIETY LTD(THE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
| 12 Provisions for liabilities 13 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 |
Brought Forward £ 2,563,451 - 2,563,451 45,000 (1,577) (1,577) 2,606,874 |
Incoming Resources £ 301,043 - 301,043 - - 301,043 |
Resources Expended £ (286,364) - (286,364) - (100) (100) (286,464) |
Transfers and/ or revaluations £ 50,650 - 50,650 - - 50,650 |
Carried Forward £ 2,628,780 |
|---|---|---|---|---|---|
| - | |||||
| 2,628,780 45,000 (1,677) |
|||||
| (1,677) | |||||
| 2,672,103 |
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.
| 14 Analysis of net assets between funds 2021 Restricted Funds £ Tangible fixed assets - Intangible assets - Current assets (1,677) Creditors due in one year - At end of year (1,677) |
2021 Designated Funds £ - - 45,000 - 45,000 |
2021 Unrestricted Funds £ 1,872,581 597,954 197,302 (39,057) 2,628,780 |
2021 Total Funds £ 1,872,581 597,954 240,625 (39,057) 2,672,103 |
2020 Total Funds £ 1,867,851 547,304 223,827 (32,108) |
|---|---|---|---|---|
| 2,606,874 |
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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 2021, 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:
-
examine the accounts (under section 145 of the 2011 Act);
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
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:
-
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
V J Rogers
Chartered Certified Accountant
AccountArt
5 St Thomas Avenue Hayling Island Hampshire PO11 0ET
Date: 26 May 2022
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