##
##
##
|The Board, Executive Officers and Advisers|The Board, Executive Officers and Advisers||
|---|---|---|
|Report ofthe|Board ofTrustees||
|Independent|auditors'
report||
|Statement of|comprehensive
income|18|
|Statement of|changes
in reserves|19|
|Balance sheet||20|
|Statement of|cash flows|21|
|Notes tothe financial statements||22|
##
##
|The Board asat the date of|The Board asat the date of|The Board asat the date of|The Board asat the date of|Mr D Byrne FCII (Chairman)|Mr D Byrne FCII (Chairman)|||||
|---|---|---|---|---|---|---|---|---|---|
|approval|ofthis Annual|Report||Mr M Paris MBE MCIOB||||||
|||||Miss JSorenson
BA(Hons)||PGDipM||Chartered|Marketer|
|||||Mr W Rendall
ACII MA Oxon||||||
|Note: all|Board members are|||Mr J Timbs FCMI||||||
|also trustees ofthe charay||||Mr P Anderson
LLB(Hons)||MBA||||
|The following was also||a Board||Mrs
L Phair MA, BSc(Hons)|||Nursing|RMN RGN|DPNS (Deputy Chairman)|
|member during part of||the|year|Resigned 16/7/22||||||
|covered by this Annual||Report||||||||
|Executive|Officers asat|the date||Mr N Taylor (Chief Executive|||Officer)|||
|ofapproval ofthis Annual|||Report|Mr
IThomas (Development|||Director)|||
|||||Ms N Moss (Operations|Manager)|||||
|Company|secretary|||Mr PAnderson
LLB(Hons) MBA||||||
|Registered office and principal||||Alfriston
House||||||
|address||||North Road||||||
|||||Alfriston||||||
|||||East Sussex BN26 SXB||||||
|||||Registered
Office address changed||||in July 2022|to:|
|||||Holdenhurst||||||
|||||Mill Road||||||
|||||Heathfield||||||
|||||East Sussex TN21 OGG||||||
|Independent
auditors||||Lindeyer Francis Ferguson||Limited||||
|||||Chartered
Accountants||||||
|||||Statutory
Auditors||||||
|||||North House||||||
|||||198High Street||||||
|||||Tonbridge||||||
|||||Kent TN9 1BE||||||
|Bankers||||Barelays Bank pic||||||
|||||63/67 Terminus
Road||||||
|||||Eastbourne||||||
|||||East Sussex BN213NE||||||
##
##
##
##
|||No of|No of|No of|Changes since|31March 2021|31March 2021|31March 2021|
|---|---|---|---|---|---|---|---|---|
|||sheltered|social|non-social|||||
|||houses|housing|housing|||||
||||units|units|||||
|Eastbourne||16|||||||
|Brighton &Hove||16|||One unit has been||||
||||||transferred
to generalneeds||||
||||||housing||||
|Heathfieid|||||The house
in Heathfield|||has|
||||||been demolished
and||||
||||||development|ofa48 unit|||
||||||social housing|Extra Care|||
||||||residence
was|in progress||and|
||||||completed 06.04.22||||
|Hastings|||||Closed due to|viability|and||
||||||accommodation
standards||||
|Tunbridge|Wells|14|||||||
|Alfriston|||||||||
##
##
##
##
##
##
##
##
##
##
##
|Risk|||||||Mitigation|||
|---|---|---|---|---|---|---|---|---|---|
|Strategic||||||||||
|The Charity|operates||in a complex,||fluid market||The Chadity|adopted
a 10year strategic||
|dependent|on|numerous||external||factors,|plan
2016-2026 which
was
prepared|||
|including|regulation,||competition,|||customer|based
on|sector research,
analysis
of||
|expectations|and|requirements||and the||economic|changes
in|the|Chadity's
defined area of|
|environment.|||||||operation|and|the relevant
experience|
||||||||ofthe trustees||and management
team,|
||||||||particularly||knowledge
of
The|
||||||||Abbeyfield|Society and its strategic plan.||
||||||||The
Charity
is||currently
preparing
an|
||||||||update
to|the|Strategic
Plan
covering|
||||||||2022-2032|for
consideration
and||
||||||||adoption
by the||Board.|
||||||||The Board|has|approved
a joint project,|
||||||||proposed
by the||former Deputy Chairman,|
||||||||with the Association for Dementia
Studies|||
##
##
|||||||||||at the University ofWorcester, to develop|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||and
publish
new
models
to
support|
|||||||||||Independence
and combat loneliness
and|
|||||||||||isolation for older people. Research Grant|
|||||||||||Funding
of the
two
year
project
of|
|||||||||||f114,000
has
been
allocated
to
this|
|||||||||||project
by
the
Abbeyfield
Research|
|||||||||||Foundation.|
|Financial||viability|||||||||
|Operations|||continue||to|generate||sufficient||The
Board
agrees
an
annual
financial|
|funds|to|provide||high|standard||services||and|budget
on
a timely
basis
and
receives|
|maintenance|||ofthe houses.|||||||quarterly
reports
to
monitor
progress|
|||||||||||against
expectations.
All budget
planning|
|||||||||||and major capital expenditure
issubject to|
|||||||||||approval
by
the
Board.
The
Senior|
|||||||||||Management
Team
receives
monthly|
|||||||||||operations
income
and
expenditure|
|||||||||||reports for review with the house staff.|
|||||||||||The
Charity
strives
to
maintain
high|
|||||||||||residential
occupancy
levels by sustaining|
|||||||||||local awareness
as to the benefits
which|
|||||||||||the Charity has to offer those in need, in|
|||||||||||the
communities
we serve.
Occupancy|
|||||||||||levels have been adopted
as the primary|
|||||||||||KPI and as such are regularly
reported to|
|||||||||||management
and the Board.|
|Adequate||funding||is available||forthe||Holdenhurst||The Board has a Facility Agreement
(FA)|
|development|||project.|||||||with Charity
Bank and Big Society Capital|
|||||||||||to fund the development
and provide for|
|||||||||||residual
debt
following
completion.
This|
|||||||||||was
secured
following
exhaustive|
|||||||||||modelling to G2060 by the Charity
and its|
|||||||||||advisers, the results of which were made|
|||||||||||available
to
the
Board.
Performance|
|||||||||||against the
covenants
within
the FA are|
|||||||||||monitored
quarterly
internally
and|
|||||||||||externally.|
##
##
|Reputation|Reputation|Reputation||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The|Charity's|||reputation||||may||be impacted||||by|Services|are
continually
reviewed
and||
|inadequate|||safeguarding||||of||residents,||||a fall|in|monitored||by the Senior Management
Team|
|service|||standards||||and||||deteriorating||||with support
and regular
scrutiny
by Board|||
|accommodation.|||||||||||||||members.|Operating
Policies are developed,||
||||||||||||||||logged
and
implemented
as
required.|||
||||||||||||||||Policies
for
residents,
including
a
clear|||
||||||||||||||||complaints||procedure, are in place for use by|
||||||||||||||||residents.|||
||||||||||||||||The Board||has adopted
a clear policy and|
||||||||||||||||process to|safeguard
all residents
and staff.||
||||||||||||||||Members ofthe Board are actively engaged|||
||||||||||||||||with
The||Abbeyfield
Society,
to
which|
||||||||||||||||Abbeyfield||South
Downs
is affiliated,
and|
||||||||||||||||contribute||to developments
at a national|
||||||||||||||||level.|||
||||||||||||||||The
Board||commissioned
an
independent|
||||||||||||||||maintenance||survey of all houses
and has|
||||||||||||||||adopted
a||10 year
planned
maintenance|
||||||||||||||||programme||to
ensure
compliance
with|
||||||||||||||||accepted standards.
A review/update
ofthe|||
||||||||||||||||survey
is currently
under consideration.|||
|People||||||||||||||||||
|The|success||ofthe||Charity||is|dependent||||on itsstaf|||The Board||support
the management
team|
|and|volunteers.||||The|welfare||||of|the||staff
and||to
ensure
appropriate
policies
and|||
|residents||is|of|central||importance|||||to|successful|||procedures||are
in
place
to protect
the|
|operations.|||||||||||||||health
and||safety of staff and residents
at|
||||||||||||||||all times.|||
||||||||||||||||The Charity||is committed
to being
both
a|
||||||||||||||||Living
Wage
and
equal
opportunities|||
||||||||||||||||employer.|||
|The|Board|and||management|||||team||must||have|an|The
Board||regularly
assesses
its
own|
|appropriate|||mix||of|skills||to||oversee|||existing||composition||and
diversity
to
ensure
an|
|operations||and||future||plans.|||||||||adequate||mix
of
skills.
Experience
is|
||||||||||||||||present
to||direct the Charity
and
provide|
||||||||||||||||substantive||support
to the
management|
||||||||||||||||team.|||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||2022|
|---|---|---|---|---|
|Turnover|||||
|||2|862,707|969,103|
|Operating
expenditum||2|(1,064W5)|( 912,602)|
|Operating (degclt) / surplus|||( 201,728)|56,501|
|interest receivable|||73||
|Other income|||1,150||
|Gain on sale ofproPerty|||133,810||
|(Defldt) / surplus on onllnary|acdvltles forthe year and total||( 66A95)||
|comprehensive
income|||||
##
##
||||income ond|||
|---|---|---|---|---|---|
|||||Endowment||
||||expenditure||Total|
|||||reserve||
||||reserve|||
|Balance at 1April 2020|||7,837,833|246,889|8,084,722|
|Total comprehensive|income for the year||57,274||57,274|
|Transfer from endowment||reserves|3,384|(3,384)||
|Balance at31March|2021|and 1April 2021|7,898,491|243,505|8,141,996|
|Total comprehensive|income forthe year||(66,695)||(66,695)|
|Transfer from endowment||reserves|3,384|(3,384)||
|Balance at 31March|2022||7,835,180|240,121|8,075,301|
##
##
##
##
|||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|---|
|||||||||6||
|Net cash generated / (absorbed) from||operating||activities|||A|376,178|( 145,556)|
|Cash flow from investing|activities|||||||||
|Purchase oftangible fixed|assets|||||||(1,874,377)|( 7,053,993)|
|Proceeds from sales ofproperties||||||||608,377||
|Interest received||||||||73|773|
|Net cash used in investing|activities|||||||(1,265,927)|( 7,053,220)|
|Cash flow from investing|activities|||||||||
|Grants received||||||||226,721|2,317,267|
|Loans received||||||||911,214|3,794,662|
|Net cash provided
by investing
activities||||||||1,137,935|6,111,929|
|Net increase / (decrease)|In cash and|cash equivalents|||and|change in net|funds|248,186|(1,086,847)|
|Cash and cash equivalents|atthe beginning||ofthe|year||||1,242,811|2,329,658|
|Cash and cash equivalents|atthe end|ofthe year||||||1,490,997|1,242,811|
|Cash and cash equivalents|consists of:|||||||||
|Cash at bank and in hand||||||||1,490,997|1,242,811|
|A. Reconciliation ofnet|cash generated||from|operating||activities||||
|Cash flow from operating|activities|||||||||
|(Deficit) / surplus forthe year||||||||( 66,695)|57,274|
|Adjustments
for non cash|items:|||||||||
|Depreciation||||||||91,727|89,943|
|Decrease / (increase)
in debtors||||||||1,346|(3,404)|
|Increase / (decrease) in creditors||||||||483,683|( 288,596)|
|Adjustments
for investing|orfinancing|activities:||||||||
|Gain on sale ofproperty||||||||( 133,810)||
|Interest receivable||||||||(73)|( 773)|
|Cash generated / (absorbed) from operating|||activities|||||376,178|( 145,556)|
##
##
##
##
##
##
##
##
##
##
##
##
##
|Freehold|buildings|50years straight|line|
|---|---|---|---|
|Roofs||40years straight|line|
|Windows||25years straight|line|
|Kitchens||10years straight|line|
|Lifts||15years straight|line|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|Turnover
and costs||||||
|---|---|---|---|---|---|
|||||2022f|2021|
|Rent receivable||||||
|Social housing||||1,014,035|1,076,114|
|General housing||||23,036|23,568|
|Void losses||||||
|Social housing||||( 177,015)|(149,357)|
|Amortised
government||grants||400|400|
|Turnover from housing||lettings||860,456|950,725|
|income from other activities||||||
|Coronavirus
Job Retention Scheme|||grants|1,719|11,178|
|Sundry||||532|7,200|
|Total||||862,707|969,103|
|Operating
costs from social housing activities:||||||
|Management
expenses||||693,059|586,250|
|Property maintenance|and refurbishment||costs|90,076|70,854|
|Depreciation of housing||properties||56,289|56,289|
|Other costs||||225,011|199,209|
|Total||||1,064,435|912,602|
|ftet deficit from housing||activities||( 201,728)|56,501|
##
##
##
|(Deficit) / surplus on ordinary|(Deficit) / surplus on ordinary|activities|activities|activities||2022f|2021
E|
|---|---|---|---|---|---|---|---|
|This is stated after charging:||||||||
|Depreciation
ofhousing|properties|||||56,289|56,289|
|Depreciation
ofother tangible||assets||||35,438|33,654|
|Auditors'
remuneration|for audit|||||7,800|7,800|
|Auditors'
remuneration|for non-audit|||services||5,486|7,030|
|Staff costs and key management|||personnel|||||
|||||||2022|2021|
|||||||6|E|
|Wages and salaries||||||442,435|401,462|
|Social security costs||||||34,339|30,340|
|Other pension costs||||||15,619|9,595|
|||||||492,393|441,397|
|The average number of|employees||forthe year based on monthly||headcount|is as follows:||
|||||||2022|2021|
|||||||Number|Number|
|Housekeeping||||||30|27|
|Administration||||||3|4|
|||||||33|31|
##
##
|Tangible Bx|ed assets||||||
|---|---|---|---|---|---|---|
||||Housing|Housing|Fixtures,|Total|
||||Properties|Properties|fittings and||
|||||under|equipment||
|||||development|||
|||||f|||
|Cost|||||||
|At 1April 2021|||3,620,747|12,687,703|406,186|16,714,636|
|Additions||||1,856,928|17,449|1,874,377|
|Disposals|||( 510,000)||( 50,840)|( 560,840)|
|At 31March|2022||3,110,747|14,544,631|372,795|18,028,173|
|Depreciation|||||||
|At 1April 2021|||632,337||188,222|820,559|
|Charge forthe year|||56,289||35,438|91,727|
|Depreciation|eliminated|on disposal|( 68,559)||( 17,714)|( 86,273)|
|At 31March|2022||620,067||205,946|826,013|
|Net book value|||||||
|At 31March|2022||2,490,680|14,544,631|166,849|17,202,160|
|At 31March|2021||2,988,410|12,687,703|217,964|15,894,077|
##
##
##
##
##
||||2022
E|2021f|
|---|---|---|---|---|
|Rent and service charges receivable|||4,859|11,866|
|Prepayments
and accrued income|||8,608|2,947|
||||13,467|14,813|
|Creditors: amounts|falling due within one year||||
||||2022|2021|
||||E|E|
|Government
grants|||115,322|11,068|
|Trade creditors|||131,603|237,848|
|Rent and service charges received in advance|||28,756|27,465|
|Accruals and deferred||income|234,044|12,504|
|Bank loans|||261,362|24,828|
|Other creditors|||2,151||
||||773,238|313,713|
|Deferred grant income|||||
||||2022f|2021
E|
|At 1April 2021|||4,912,398|2,595,531|
|Grants received|||331,375|2,317,267|
|Released to income|in|the year|( 400)|( 400)|
|At 31March 2022|||5,243,373|4,912,398|
##
##
##
|The movements
on|recycled capital grant is as follows:|||
|---|---|---|---|
|||2022f|2021|
|At 1April 2021||4,152,267|1,835,000|
|Grants received||331,375|2,317,267|
|At 31March 2022||4,483,642|4,152,267|
|Creditors: amounts|falling due after one year|||
|||2022f|2021f|
|Bank loans||4,705,876|3,794,662|
|Government
grants||5,128,051|4,901,330|
|Other creditors||24,158||
|At 31March 2022||9,858,085|8,695,992|
##
##
|Housing sto|ck||||
|---|---|---|---|---|
||||2022f|2021|
|The number|of units in management|at the end ofthe year were:|||
|General housing - social rent|||3|3|
|Supported|housing||55|62|
||||58|65|
##
##
##
|At 31March 2022 the charity had capital commitments|as follows:|||
|---|---|---|---|
|||2022|2022|
|||6|6|
|Contracted for but not provided for in the financial statements|||999,187|
##
##
##
##
|Current year|Current year|Balance at1|Income|Expenditure|Transfers|Balance ot31|
|---|---|---|---|---|---|---|
|||April 2021||||March 2022|
|Permanent|endowment||||||
|Angus Lodge endowment||243,505|||(3,384)|240,121|
|fund|||||||
|Prior year||Balance at 1|Income|Expenditure|Transfers|Balance at31|
|||April 2020||||March 2021|
|Permanent|endowment||||||
|Angus Lodge endowment||246,889|||(3,384)|243,505|
|fund|||||||
##
##
|||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|
|||||6|6|f|6|
|Turnover||||||||
|Social housing
lettings|||||837,020||926,757|
|General needs rent|||||23,036||23,568|
|Amortised
government||grants|||400||400|
|Coronavirus
Job Retention Scheme grants|||||1,719||11,178|
|Sundry|||||532||7,200|
||||||862,707||969,103|
|Administrative
expenses -|||management|||||
|House staff costs||||363,204||316,887||
|Staff training||||2,373||2,609||
|Food and other household|||costs|94,731||102,015||
|Water rates||||10,181||11,901||
|Counciltax||||13,429||12,749||
|Electdicity||||25,162||24,436||
|Gas||||44,670||20,292||
|Insurance||||24,407||9,605||
|Cleaning||||7,924||5,084||
|Advertising||||25,336||14,914||
|Lifeline||||26,614||15,777||
|Telephone||||18,768||15,334||
|Television
licence||||822||993||
|Depreciation
offixtures||and fittings||35,438||33,654||
||||||( 693,059)||( 586,250)|
|Administrative
expenses - other||||||||
|Administrative
staff|costs|||153,152||138,190||
|Printing,
postage and stationery||||23,803||8,955||
|Travelling
expenses||||4,041||1,639||
|Legal and professional
fees||||4,574||4,074||
|Auditors'
non-audit|fees|||5,486||7,030||
|Audit fees||||7,800||7,800||
|Affiliation fees||||16,162||17,804||
|Bank charges and interest paid||||157||100||
|Bad debts||||2,178||||
|Sundry expenses||||7,658||13,617||
||||||( 225,011)||( 199,209)|
|Repairs and maintenance||||||||
|Routine maintenance||||90,076||70,854||
|Depreciation ofhousing||properties||56,289||56,289||
||||||( 146,365)||( 127,143)|
|.Interest receivable||||73||773||
|Gain on disposal ofproperty||||133,810||||
|Other income||||1,150||||
||||||135,033||773|
|(Deffclt) / surplus for the year|||||( 66,695)||57,274|