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2024-03-31-accounts

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 Company number: 00721891 THE ABBEYFIELD YORK SOCIETY LIMITED (Charity Number 222424) {Homes & Communities Registered Number H2055) ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2024 HPH Chartered Accountants 54 Bootham YORK Y030 7XZ

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 CONTENTS Pag Company Information Report of the Board 2-11 Auditor's Report 12-15 Slalement of Comprehensive Income 16 Slalement of Financial Position Slalement of Cash Flows 18 Slalement of Changes in Equity 19 Notes lo the Financial Statements 20-29

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED COMPANY INFORMATION Executive Board Mr P J Nelherwood Mr D G Walker Mrs S Hutchinson - resigned 19 September 2023 Mrs A M Baldwin Mr J D Owen - resigned 31 July 2024 Dr G R Porter Mrs E L Potrykus Mr A J Dixon MrPI Kirk Mrs K Curry- appointed 10 July 2023 Secretary Mr A J Dixon Company Number 00721891 Homes & Communilig$ Registered Number H2055 Charity Number 222424 Regl$ter•d Offl¢e Abbeyfield House Regency Mews Dringhouses YORK Y024 1LL Key Management Personnel Society Manager Mrs C Newnham - until 15 January 2024 Ms L Tattershall- appointed 15 January 2024 Mrs C Newnham - resigned 30 July 2024 Mrs J Nicholson Finance manager Care Manager Auditors HPH Chartered Accountants and Registered Auditors 54 Bootham YORK Y030 7XZ Bankers Barclays Bank plc Parliament Street YORK Y01 8RH

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD The Trustees present their annual report together with the financial statements for the year ended 31 March 2024 The Trustees confirm that the Annual Report and financial statements of the company comply with the current slatulory requirements of the company's governing document, the Statement of Recommended Practice for Social Landlords and the provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The Abbeyfield York Society Ltd is registered as a company limited by guarantee (No. 007218911 and is governed by ils Memorandum and Articles. The Abbeyfield York Society Ltd is also a registered charity INO. 2224241 and a registered social landlord whose activities fall wholly within the definition of hostel housing in the Housing Act 1996 (No. H20551. The Abbeyfield York Society Ltd is also the sole shareholder of Abbeyfield York Home Care Limited. Organisational Structurg and Docision-making The directors of The Abbeyfield York Society Ltd (Trusleesl are responsible for agreeing the policies and strategic direction of the organisation. Operational matters are delegated to the Society Manager under the immediate oversight of the Board, which consist of nine Trustees. A development committee of four Trustees works with a Project Board, made up of Project Professionals lo oversee delivery of the development project. The Trustees met on seven occasions during the year and the average allendance was seven trustees. During the course of the year Trustee, Peter Netherwood and Sally Hutchinson resigned from the Board. New Iruslees are recruited generally through existing Trustee and organisational professional contacts. New Trustees are invited lo meet with current members of the Board to explore skill areas and are then invited to attend a meeting before making fimi decision. The Abbeyfield Society produces a Trustee Induction Workbook and organise regular governance workshops. Three Trustees make up the Board of Abbeyfield York Home Care Limited. Risk management The Charity maintains a Risk Register. This 15 reviewed annually by the Trustees meeting as a Board. Govemance and Risk is a standard agenda item al each Trustee meeting. During the year we still had lo work on the fire risk assessments referred lo in last year's report. Management continued lo pul in measures, following government guidance, which kept all residents and staff aware of all health and safety issues such as evacuation procedures and fire safety.

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Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD OBJECTIVES - continued The Abbeyfield approach has for many years filled a gap in provision bel￿een warden- supported housing and full residential or nursing care, which until recently has not been met by many other agencies. Once living in Abbeyfield, many residents live there lo the end of their lives and do not need to move on to other, rn0￿ intensive care. We pride ourselves on being able to provide this service, making the later years of life comfortable and stsble. The National Abbeyfield Society celebrated ils 65th anniversary in 2022. It gives strong professional support to local societies, selling standards and providing advice for operating Abbeyfield accommodation and support services. The York Society representatives regularly attend Abbeyfield regional meetings lo participate in the sharing of good practice. A system of quality assessment, the Abbeyfield Core Standard, has been developed by the national Abbeyfield Society. The Abbeyfield Society provides guidan￿ with operating policies across all areas of our service. These policies are designed lo comply with relevant legal and regulatory obligations. The Trustees review all policies as and when they are due for revision, or when services change due to regulatory requirements for example, to ensure that they match our local priorities and aspirations. The Abbeyfield York Society was last assessed in relation lo the Abbeyfield Quality Standard {as il was then) in 2015 and mel the standard in all regards and continues lo work towards on- going improvement. It is our intention to undertake an assessment in 202412025. Abbeyfield York is recognised by the City of York Council Directorate of Adult Social Care and Integration as a provider of supported housing for frail elderly people in the York area. As local housing association partner, the society re￿iVeS regular information, allends meetings with the Council and other housing agencies and conlribules to the development of the City's strategies and plans. Our domiciliary care service, Abbeyfield York Home Care Ltd, is registered with the Care Quality Commission and achieved a 'Good rating in all areas following its last inspection. We believe that our main activities further our charitable purposes for the public benefit. As Directors of The Abbeyfield York Society Ltd, we believe that we have complied with the duty in section 17151 of the Charities Act 2011 to have due regard lo public benefit guidance published by the Charity Commission.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD Our Houses & Support Services The Abbeyfield York Society Currently owns and runs 2 houses in York, for 31 residents, supported by 30 paid staff Imoslly part-timel and approximately 10 volunteers. Residents have exclusive use of a large bed-sitting room, which they fumish themselves. Each room has en-suite facilities, and there are bathrooms with special baths to 8S8iSt bathing. The communal areas in each house include a lounge and dining areas, where residents meet as a household for meals. A particularfy popular feature ofour Abbeyfield houses is that high quality home-cooked meals are provided, and special diets are catered for. Houses are equipped with 8 laundry for resident use, lifts, alarm-call and security systems. Both houses also have mini kitehens where residents can make breakfast or snacks. Both houses have allraclive gardens, and are located close lo local shops, churches, local transport routes and other neighbourhood services. The weekly charge covers.. Rent for own room and use of communal facilities Heating, lighting and water Council tax Aarm and security systems Cleaning of communal areas Maintenance of house and gardens Staff management and support All meals, Including associated staff costs Regency Mev Completed in October 1998, Abbeyfield House, Regency Mews, Dringhouses, accommodates 21 residents and is Abbeyfield York's first purpose-built house. 11 is located close lo the library, chureh, shops and other neighbourhood and transport facilities on Tadcaster Road. Each resident has their own very large bed-silling room, 125m plus en-suilel which they furnish themselves. Each room has a full en-suite, WC and shower-room, for privacy, and convenience especially at night. There is lift access lo all floors, spacious sitting and dining rooms, a respite room, a hair and beauty room, a laundry used by residents and special baths. The whole house is suitable for wheelchair users. The garden has been designed to be attractive when seen from indoors, but also lo encourage residents lo be outdoors when the weather is suitable. These physical features. together with 24 hour staffing and an in house domiciliary care service, provide a very high level of support. The building is designed for low maintenan￿, is extremely energy efficient and has many design features lo meet the mobility and other needs of people with the many disabilities related lo old age. The building has been built lo 'registered care home standards, so that should regulatory or other circumstances change, il would be possible to register the house wilhoul further major changes.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD 12 Beckfield Lane This house was the second house to be purchased by the Society, in 1964. In 1984, 14 Beckfield Lane was acquired and combined with number 12 to accommodate 10 residents, and a resident housekeeper. In 1999, the house was extensively remodelled lo accommodate 10 residents, and provide en-SLJite bathrooms, a lift, alarm-call system and mini- kitchens. In 2019 a new lift and new alarm-call systems were installed, replacing the old. The house is located close to the junction of Beckfield Lane and Welherby Road, with a local shop and other facilities. It has a very attraetive garden. Over the last decade, the needs of prospective residents have changed and the house in Beckfield Lane does not always meet these needs. Many residents are moving to Abbeyfield much later in life than previously and this house cannot always accommodate their physical needs in terms of the space needed for mobility. Similarly, for others, 24-hour staff cover is required due lo memory problems and frailty. However, despite these limilalions, the Beckfield Lane house still provides a comfortable happy home for a number of residents. The Trustees have taken the decision to close Beckfield Lane in light of the falling resident numbers and the alternative accommodation with the opening of the new building at Regency Mews. The last residents from Beckfield Lane moved from the house on 1 Oth July 2024 and are comfortably sellled at Regency Mews. Current Staff During 202312024, 12 Beckfield Lane was staffed by three support staff who worked on a rola and domestic staff. There was a period in the afternoon, and again in the evening, when no staff are present, and the warden call cover is used. In 2018, the overnight response service was linked to the warden call service following employment changes associated with sleep in workers. This did not have any detrimental impact on the residents who were consulted about the change. The society's manager and adminislralive staff work from the Abbeyfield York offi.￿ at Regency Mews. There are no resident staff at Regency Mews but 24-hour SUPKX)rt is provided by support assistants, catering and domestic staff. The Society has a number of regular volunteers who enhance the sense of community within our houses. The volunteers primarily provide companionship for the residents, organise some social get-logelhers and occasionally help with chaperone services for appointments. Our new volunteers are developing a refreshed programme of visits and social OLJtings. GOING CONCERN After discussions with key management personnel, the Trustees have 8 reasonable expectation that the charitable company has adequate resources to continue its activities for the foreseeable future. The charitable company's 3-year business plan shows that il will have adequate reserves and will be able to meet ils liabilities. Accordingly, since there are no material uncertainties, the Trustees continue to adopt the going concern basis in preparing the financial statements as outlined in the Trustees, Responsibilities Statement.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD OPERATIONAL AND FINANCIAL REVIEW Having successfully gained planning consent, operations during the financial year have been shaped largely by moving ahead with the proposed development project. The building work, al Regency Mews commenced in early 2022. The project report is set out in a separate paragraph below. On-going fundraising remains high priority. Operational Review Management In January 2024 we appointed a new manager for the York Society lo replace Caroline Newnham who decide lo retire after 24 years of dedicated service. We would like lo formally thank Caroline for all her hard work throughout her tenure and the various roles that she occupied. Jane Nicholson was appointed as Care Manager in October 2018 and remains in this role, managing the new regulatory requirements introduced by CQC in early 2024. We have a dedicated staff team. Pay and remuneration of key personnel is reviewed annually by the Trustees. Salaries are benchmarked with similar roles within the Abbeyfield movement nationally and other organisalions in the region. We are now a living wage employer. Events and Activities During the course of the year, Trustees and volunteers reintrodu￿d the various events which, pre-covid would have normally been organised as well as". Coffee mornings and regular communion services take place along with informal social events such as films, tslks, slideshows and visiting musical groups. A variety of Christmas events were reintroduced this year together a number of in-house activities which were organised for and enjoyed by our residents. Our on-going aim in this area is to encourage involvement with the wder community, for example, knit and naller, local history group, visits into the local area and visits from outside organisations. Financial Review The results for the year are sel out in the 'Statemenl of Comprehensive Income, on page 15 and supporting notes lo the accounts. 2023124 was a fairly sellled year, resident number wise, with an increase in the number of voids due to planned vacancies al Beckfield Lane. As our residents, average age increases, we anticipate periods with voids. However, regLJlar review of the wailing list has helped lo minimise the impact of this. Maintenance also remained high as the Regency Mews property has passed Ils 20th anniversary and items need replacing. As last year, a reasonable surplus was achieved, aided by donations and legacies. The trading subsidiary Abbeyfield Home Care Ltd unfortunately did not make a profil this year as such no donation was gifted lo the charity.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD 12 Months to 2024 12 Months to 2023 12 months to 2022 12 months to 2021 12 months to 2020 Gross charges 593,879 535,211 491,974 481,021 476,193 Voids deducted Sund income Grants received TOTAL Trading Income Donations # Investment income Total Income Avera e void '/0 Total expenditure 62,103 11,476 2,311 545,563 1,270 6,642 553,475 10.45 587,734 34,320 24,014 52.311 577,216 19,436 1,119 598,086 6.41 500,251 19,985 11,739 9,576 493,304 17,364 47 510,715 4.06 498,897 22,206 7,239 8,660 474,714 10,860 447 486,021 4.62 490,422 13,336 6,664 2,311 471,832 20,421 1,526 493,779 471,895

Includiw GIft￿d and Abbeyfield York Home C8re Limited'$ don8110n

The Board consider the Society's affairs lo be salisfaclory. Reserve8 Policy It is our policy lo maintain Unrestricted General Funds at a level which represents al least 1 year's operational expenditure. Taking into account the experience of recent years, expenditure, that amoLJnts lo approximately £500,000. In deciding to hold 1 year's Unrestricted General Fund Reserves, we have regard lo the costs that would be involved in closing both homes, should the financial position become untenable. The Unrestricted General Funds at 31 March 2024 were £2,467,573, of which the net equity in Housing Properties amounts lo £2,179,090 so that the amount of free reserves is £288,483. The Iruslees consider this position to be satisfactory. PLANS FOR THE FUTURE Future Devglopment We are complementing our existing service by adding 25 extra care apartments. The mix of one and two bed apartments, aimed al those aged 75+ will be offered for sale and social rent and will introduce provide services for people with dementia. It is a scheme designed specifically to cater for people who need varying degrees of support,. ranging from a high level for those with dementia and lower levels for those who are more independent. Importantly, it will be flexible enough to accommodate individual needs as they change. Reducing loneliness has a positive impact on health and wellbeing and we want to ensure that older people in the area can continue to experience what Abbeyfield has lo offer, and to reach out lo those in the local community who might be experiencing loneliness. We aim lo create a dynamic community where our residents can live independently bul also access opportunities to soeialise and forge strong relationships with others. The new scheme will increase our communal facilities.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD The new development will offer different tenure options, and the introduction of a dementia provision 18 of the 25 units) will enable us lo improve the outcomes for older people wth dementia in more supported and stimulating environment for them. The 25 units will comprise 6 x 2 bed apartments which will be for sale, 11 x 1 bed social rent apartments and 8 x 1 bed dementia housing apartments, also at a social rent. Each flat will be approximately 50m2 in the case of the 1 bed apartments and 60m2 for the 2 bed apartments. They will all be wheelchair accessible, and the design will incorporate many Slirling University dementia design principles and HAPPI considerations. There will also be communal spaces, assisted bathrooms and landscaped gardens. It is proposed to try to achieve a community where people of different ages and abilities can offer support and fellowship lo each other. For those market sale apartments, there will be a seNice charge which will include Exterior maintenance, including window cleaning and provision of a sinking fund for major repairs. Interior maintenance, including healing services, and other services, e.g. fire systems, lift maintenance etc. Gardens and grounds maintenance. Use of and cleaning of common areas in both buildings, even more so Sin￿ Covid-19. Buildings insurance. Residents will each be responsible for council tax, water and electricity charges. Following the tender process, which established Vislry Partnerships as the clear contract partner for the new build project at Regency Mews, we completed a comprehensive value engineering process to trim extraneous costs and bring the project down lo the target budget of £5.1 m wilhoul seriously reducing the high-quality specification. A significant part of this process also embraced a strategy of greater long-lerm sustainability by moving the building's energy strategy away from gas and over to electric, bolstered by additional on-site renewable energy provision. Funding arrangements were confirmed with Homes England for the formal contract start on sile by the end of March 2021. This was enabled by the securing of development and long- term finance from Charity Bank, in partnership with SchroederslBig Society Capital., providing a development loan of up to £3m and long term finance on the building of up to £2m over the next 25 years. The project has also benefited from recycled capital grants provided by Abbeyfield Societies in Widnes, Sheffield Christchurch, Loughborough and Grimsby and Cleethorpes. Abbeyfield York is extremely grateful lo these societies, contribution, without which the project would have not been possible. Progress on site was initially slow, delayed by a combination of Covid. archaeological Surveys, in particular uncovering an ancient Roman well, with a number of interesting finds logged, plus some delays allribulable to planning issues around access and tree protection which had lo be dealt with. However, the project costs will hopefully come in on target with close scrutiny and progress on site is now progressing well. The project has been completed since the year end, and will provide a combination of 6 open market sale and 19 affordable apartments. We are exploring a Day Service, in consultation with city of York council, to be introduced in 2025. We are also planning an opening day for the new building on 10 April 2025.

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD BOARD MEMBERS The members of the Board who served during the year ended 31 March 2024 are sel out on page 1 under company information. Trustees are invited lo serve by the existing Board based upon their experien￿ and inleresls. Members of the Board retire on a three-year rota. This year al the Annual General Meeting, David Walker and Anthony Dixon the following offered themselves for re-election. Two new Trustees, Phil Kirk and Kim Curry were appointed during the year and Kim Curry was appointed as Chair in September 2023 following Robert Porter standing down. We would like lo thank Robert for his tenure as Chair and particularly in guiding the society through the proTrss of commissioning and starting the new build. We are pleased that he has remained as a Trustee as his experience with the S￿letY combined with that of David and Anthony is invaluable. AUDITORS The auditors HPH, were appointed during the year and have indicated their willingness lo continue in office. ACCOUNTING POLICIES The detailed accounting policies adopted to further our objectives are sel out in note 1 to the financial slatemenls. There have been no material changes lo these policies in the year. INVESTMENT POLICY AND PERFORMANCE The current investment policy is to hold all funds on bank deposit to be available to meet needs as they arise. THANKS The Trustees are grateful to everyone who has supported our work during another year of change as the project build progresses, in particular the Managers, the Care Manager, and all staff, many of whom put in extra hours covering for colleagues as required. Also, lo the residents themselves for their stoicism and patience during these changing limes. 10

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED REPORT OF THE BOARD STATEMENT OF THE BOARD'S RESPONSIBIL￿lEs Registered Social Landlord legislation requires the Board to prepare financial statements for each year which give a true and fair view of the state of the affairs of the Society as al the end of the financial year and the income and expenditure of the Society for the year ended on that date. In preparing those financial statements, suitable accounting policies have been used, framed, to the best of the Board's knowledge and belief, by reference to reasonable and prudent judgements and eslimales and applied consistently. Applicable accounting standards have been followed. The Board is also required to indicate where the financial statements have been prepared other than on the basis that the Society is a going COn￿M. The Board is responsible for ensuring that arrangements are made for keeping proper books of account with respect to the Society's transactions and its assets and liabilities and for maintaining a satisfactory system of control over the Society's books of account and transactions. Each Trustee has taken steps that they ought lo have taken as a Trustee in order to make themselves aware of any relevant audit information and lo establish that the charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. The annual report was approved by the Trustees of the charity on 22 August 2024 and signed on its behalf by.. Mr D G Walker Trustee Mr A J Dixon Trustee

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 HPH Chartered Accountants INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD YORK SOCIETY LIMITED Opinion We have audited the financial statements of The Abbeylield York Society Limited Ilhe 'charitable company'l for the year ended 31 March 2024, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Cash Flows, Slalemenl of Changes in Equity and Notes to the Financial Slatemenls, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel- In our opinion the financial statements.. give a true and fair view of the stale of the charitable company's affairs as al 31 March 2024 and of the its incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements In the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of aecounling in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not idenlilied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. 12

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 HPH Chartered Accountants INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD YORK SOCIETY LIMITED Other infonnation The Iruslees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in the audit or othenmise appears to be materially misstated. If we identify such material Inconsistencies or apparent material misslatemenls, we are required lo determine whether this gives rise to a material misstslement In the financial statements themselves. If, based on the work we have performed, we conclude that there Is a material misslatemenl of this other Information, we are required to report that fact. We have nothing to report in this regard. Opinions on other rnatters prescribed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit. the information given in the Trustees Report for the financial year for which the financial statements are prepared is consistent with the financial slatemenls., and the Trustees Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstalemenls In the Iruslees, report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 requires us to report to you if, in our opinion". adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial stslements are not in agreement wlh the accounting records and retums., or rtain disclosures of Iruslees remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the trustees were not entilled to prepa￿ the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the Trustees Report and from the reqLJirement lo prepare a Strategic Report. 13

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 HPH Chartered Accountants INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD YORK SOCIETY LIMITED Responsibilities of trustees As explained more fully in the trustees, responsibilities statement sel out on page 11, the trustees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability lo continue as a going concem, disclosing, as applicable, matters related lo going con￿rn and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but lo do so. Audito￿$ responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran￿, bul is not a guarantee that an audit conducted in accordan￿ with ISAS IUKI will always delecl a material misslatemenl when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance wth laws and regulations. We design procedures in line with our responsibilities, outlined above. lo detect material misstatements in respect of irregularities, including fraud. The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks wthin which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial slatemenls. The laws and regulations we considered in this context were the Companies Act 2006 together with the Charities SORP IFRS10212019, Housing SORP 2018 and the Accounting Direction for private registered providers of social housing 2022. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial slalements but compliance with which might be fundamental lo the charitable company's ability to operate or to avoid a material penalty. The laws and regulations we considered in this context were Care Quality Commission, Health and Safety legislation, Employment legislation, Charity Commission regulations and General Data Protection Regulation IGDPRI. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations lo enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We also considered the opportunities and incentives that may exist within the charitable company for fraud. We identified the greatest risk of material impact on the financial slalements from irregularities, including fraud, lo be the override of controls by management, income recognition and fixed asset valuation. 14

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 HPH Chartered Accountants INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD YORK SOCIETY LIMITED In response lo the risk of irregularities and non-compliance with laws and regulations and risk of fraud, we designed procedures which included but were not limited to. sample testing on the posting of journals, reconciliation of income by proof in total, reviewing basis of valuation of fixed assets, review of trustee's minutes and any correspondence with regulators. Owing lo the inherent limitations of an audit, there is an unavoidable risk Ihatwe may not have detected some material misslatemenls in the financial slatemenls, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non- compliance and cannot be expected lo detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion, or the provision of intentional misrepresentations. We are not responsible for preventing fraud and cannot be expected lo delecl all fraud. A further description of our responsibilities for the audit of the fi'nancial statements is located on the Financial Reporting Council's website at". www.frc.or .uklauditorsres onsibililies. This description fomis part of our audilorfs report. Use of our report This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company s members those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. A C Rodaway (Senior Statutory Auditor) For and on behalf of HPH, Statutory Auditor 54 Boolham YORK Y030 7XZ 4 September 2024 15

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Note Turnover Operating expenditure Other income 545,563 1587,7341 1,270 140,9011 545,563 1587,7341 1,270 140,9011 527,216 1500,2481 69,751 96,719 Operating {deficit}Isurplus Interest receivable Interest and financing costs {DeficitllSurplus before tax Taxation 6,642 12111 134,4701 6,642 12111 134,4701 1,119 131 97,835 {Defi¢itllSurplus for the year 134,4701 134,4701 97,835 Total Comprohensive lexpenditurellincome for the year £134,470) £134,470) £ 97,835 The notes on pages 20 10 30 form part of these financial statements. 16

Income and expenditure reserve Revaluation reserve

17

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED STATEMENT OF CASH FLOWS AS AT 31 MARCH 2024 Note 2024 2023 Net cash generated from operatlng actlvltles 19 234,180 727,052 Cash flow from investing activities Purchase of tangible fixed assets Donations re￿1ve Interest re￿iVed 12,639,031) 1,270 6,642 11,735,807) 19,436 1,119 12,631,119) 11,715,252) Cash flow frorn financing activities Interest paid Loan issues {2111 2,177,450 {31 888,265 2,177,239 888,262 Net change In cash and cash equlvalents {219,700} 199,9381 Cash and cash equivalents at beginning of the year 705,502 805,440 Cash and cash equivalents at end of the year £ 485,802 £ 705,502 The notes on pages 20 10 30 form part of these financial statements. 18

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024 Income and expenditure reserve Revaluation reserve Restricted fund8 Total Balance at 1 April 2023 2,502,043 2,009 2,504,052 Transfers Surplus from Statement of Comprehensive Income 134,4701 134,4701 Balance at 31 March 2024 £ 2,467,573 £ 2,009 £ 2,469,582 The notes on pages 20 10 30 form part of these financial slatemenls. 19

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 STATUS OF THE SOCIETY The Society is incorporated in England under the Companies Act 1948 as a company limited by guarantee 1007218911, and is registered as a charity with the Charity Commissioners 12224241. The Society is registered under Section 2 of the Housing Act 1996 IH20551 and is wholly engaged in housing activities as defined in that Act. The Society Is a public benefit entity in accorance with FRS 102. The address of the registered office is Abbeyfield House, Regency Mews, Dringhouses, York, Y024 1LL. 2 ACCOUNTING BASIS The Financial Statements have been prepared in accordance with applicable accounting standards, inclLJding Financial Reporting Standard FRS 102 IFRS 1021, with the Companies Act 2006, in accordance with The Accounting Direction for private registered providers of social housing 2022 and the Housing SORP 2018.. Statement of Recommended Practice for registered social housing providers. The financial statements have been prepared on the historical cost convention. The financial ststemenls are presented in sterling which is the functional currency of the Society and rounded lo the nearest £1. Consolidation Under section 399 of the Companies Act 2006 the group is exempl from the requirement to prepare group accounts by virtue of ils size. Therefore the accounts present information about the company as an individual undertaking and not as a group. 2.1 TURNOVER Tuinover represents rental and service income re￿1vable less voids. 2.2 FINANCE The financial slalements have been prepared on the basis that the capital expenditure will be granl-aided, funded by loans or where appropriate financed from the Society's own charitable resources. 2.3 SOCIAL HOUSING GRANTS SHG SHGS are made by the Department of the Environment lo assist with the acquisition and development of properties. SHG is repayable or recycled in accordan￿ with decisions made by the Tenants Services Authority (now the Homes and Communities Agency) al the time of sale of the property or in a change of use for the property for which the SHG was originally granted. SHG has been included in creditors with amounts recognised in income from the dale of receipt. 2.4 FINANCIAL INSTRUMENTS The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.5 ACCOMMODATION OWNED Numbgr of units 2024 2023 Housing for Older People 31 31 20

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2.6 FIXED ASSETS: HOUSING LAND AND BUILDINGS: SHG ASSISTED SCHEMES Cost includes, irrespective of the source of finance, costs of acquisition, development expenditure, interest on mortgage and other loan financing up lo the appropriate relevant Interest on mortgage or other loans financing the development is capitalised up lo the date of the relevant date of the inlerim SHG applicalion. Interest on advances afler the inlerim SHG application is capitalised up to the relevant date of the final SHG application. Both interim and final relevanl dates are determined in accordance with Department of the Environments circulars issued from lime lo time. Interesl nol capilalised al either the interim or final relevant dates is charged lo the income and expenditure account. All invol￿$ and architect's certificates relating to capital expenditure are included in the accounts at gross value provided that the expenditure was incurred or the architect's certificate was completed by the end of the accounting year. 2.7 FIXED ASSETS: HOUSING LAND AND BUILDINGS: OTHER SCHEMES Cost includes acquisition and development expendilure and interest on financing up to the date of completion of the project for occupation. All invoices and architect's certificates relating to capital expenditure are included in the accounts at gross value provided that the expenditure was incurred or the architect's certificate was completed by the end of the accounting year. 2.8 FIXED ASSETS: FIXTURES FITTINGS AND EQUIPMENT Assets donated to the Society are not included in the Balance Sheet,. other assets are included al cosl. 2.9 DEPRECIATION Housing land and buildings The Society has to maintain its properties to a high standard through a continuing programme of refurbishment and maintenance. Deprecialion has been charged in the accounls lo implement the Statement of Recommended Practice.. Accounting By Registered Social Landlords (SORPI, using Ihe following basis.'_ Building structure Roof Bathrooms Windows Boilers 100 years straight line 40 years straight line 20 years straight line 20 years straight line 10 years straight line Fixtures. fittings and equipment A full year's depreciation is charged on Fixed Assets in the year of purchase bul no charge is made in the year of disposal. Provision is made by way of annual instalments over the estimated useful lives of the assets which are mainty as follows'.- Furniture, Fixtures and Equipment 4t0 10years

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2.10 DEBTORS Trade and other debtors are recognised al the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts. 2.11 CASH AT BANK AND IN HAND Cash al bank and in hand includes cash and short lem highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.12 CREDITORS AND PROVISIONS Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade diswunts due. 2.13 PENSIONS The cost to the Society of pensions is charged to the income and expenditure account as the contributions arise. 2.14 MONETARY DONATIONS Monetary donations to the Society are Credited lo the income and expenditure account on a receipts basis. 2.15 RESTRICTED FUNDS Reslricled fund represent funds received for purposes restricted by the wishes of the donor. 2.16 INVESTMENT INCOME Investment income is recognised on a re￿1vable basis. 2.17 ALLOCATION OF EXPENSES AND MANAGEMENT COSTS Expenses are allocated lo management, repairs and services on the basis of actual 2.18 LEGACIES RECEIVED Legacies are accounted for as soon as the Society is notified of ils legal entitlement lo the amount due. 2.19 GOING CONCERN The company has cash reSoU￿S which covers the amount of external funding. The members of the Executive Board have a reasonable expectation that the company has adequate resources lo continue in operational existence for the foreseeable future. They continue lo believe that the going concern basis of accounting is appropriate in preparing the annual financial statements 22

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 3.1 TURNOVER. OPERATING SURPLUS AND SURPLUS BEFORE TAXATION 2024 Operating Cost 2023 Op8rating Cost Turnovgr Turnovgr Income and expenditure from lettings Rent receivable net of identifiable service charges servi￿ charge income Recycled capital grant ulilised 531,776 587,734 149,995 350,896 2,311 500,105 2,311 Other income and expenditure Sundry income l expenditure 11,476 24,014 143 545,563 1,270 587,734 527,216 19,436 50,000 315 1,119 500,248 Donations Grants Raising funds Interest receivable Bank interest payable 6,642 211 553,475 587,945 598,086 500,251 Surplus before taxation £134,470) £ 97,835 Included within operating expenditure is Audilorfs fees of £12,84312023 - £9,0001. Grants lolalling £nil related to restricted funds12023 £50,000). 3.2 TURNOVER FROM LETTINGS 2024 2023 Weekly charge Less.. Losses from voids 593,879 162, 1031 535,211 134.3201 £ 531,776 £ 500.891 3.3 OPERATING COSTS FROM LEThINGS 2024 2023 Housing accommodation excluding hostels131 units) Services Management Routine maintenance 383,017 172,293 32,424 362,469 119,951 17,685 587,734 500,105 143 Sundry expenditure £ 587,734 £ 500,248 23

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4 STAFF COSTS 2024 2023 Wages and salaries Social security 363,523 5,408 289,075 13,713 £368,931 £302,788 The average number of employees on the payroll for the Society during the year was as follows.. 2024 No. 2023 No. 30 32 Total remuneration paid lo key management personnel during the year was £73,651 12023- £70,134>. No member of staff re￿iVed remuneration over £60,000. 5 PENSIONS The Society operates a defined contribution scheme for eligible employees. The Society conlribules 3% of the employee's salary lo the scheme, with the employee contributing 50/0. 2024 2023 Contributions paid Al the end of the year the Society had oulslanding contributions of £nil12022 £nill. 5,460 5,308 6 OPERATING SURPLUS Operating surplus is slated after charging.. 2024 2023 Depreciation of fixed assets Operating lease charges Auditor's remuneration 38,204 485 12,843 33,914 485 9,000 7 APPEAL FUND INCOME Contributions during the year are as follows.. 2024 2023 Donations Appeal fund interest 1,270 19,219 217 £1,270 £19,436 8 INTEREST RECEIVABLE AND SIMILAR INCOME 2024 2023 On short term deposits 9 TAXATION 6,642 1,119 The Society has charitable status for tax purposes and no liability lo corporation lax arises. 24

Total accumulated social housing grant received or receivable at 31 March:

25

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 FIXTURES, FITTINGS AND EQUIPMENT 2024 Cost As al 1 April 2023 Additions 240,598 70,293 As al 31 March 2024 310,891 Depreclatlon As al 1 April 2023 Charge for the year As al 31 March 2024 205,604 15,146 220,750 N9t book valu As al 31 March 2024 £90,141 As al 31 March 2023 £34,994 12 FIXED ASSET INVESTMENTS Cost As al 1 April 2023 and at 31 March 2024 The company owns 1000h of the issued share capital of Abbeyfield York Home Care Limited. The principal activity of the company is the provision of care lo residents of Abbeyfield in the York houses. Capital & reserves Profit for the year Abbeyfield York Home Care Limited 16171 16,2331 13 DEBTORS 2024 2023 Rent in arrears Amounts owed by group undertakings Prepayment and accrued income Other debtors 1,148 54,928 12,096 1,035 2,393 49,086 10,368 264,186 £ 69,207 £ 32S,033 14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Rent in advance Other taxes and social security costs Other creditors Trade creditors and accruals 7,327 5,408 231,844 110,080 10,586 3,348 113,888 222,254 £ 354,659 £ 350,076 26

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR 2024 2023 Charity Bank loan Social Housing Grant Recycled capital grant fund IRCGFI 3,065,809 1,427,720 1,139,690 888,360 1,430,031 1,139,690 £5,633,219 £3,458,081 Rec Cled ca rant fund RCGF - Homes En land 2024 2023 Opening balance at 1 April Transfers from other private registered providers IPRPsl 1,139,690 482,215 657,475 £1,139,690 £1,139,690 Charit Bank loan On 26 October 2021 the Society entered into a £4,000,000 loan facility agreement as borrower and The Charity Bank Limited as a Lender I Charity Bank") together with Schroder BSC Social Impact Trust plc as a co Lender. The facility is for a term of 27 years and six months after the dale of the agreement. The initial interest rate on the loan is 3.500/0 per annum plus the Bank of England base rate. £2,177,450 was drawn down in the year. The Society has granted a first fixed legal mortgage over Regency Mews 8nd Beckfield Lane and a first ranking fixed legal mortgage over the Development site. In addition a security debenture has been executed by the Society in favour of Charity Bank which includes fixed and floating charges over all the Society's assets. Repayments of the loan are due as follows.. 2024 2023 One to I￿0 years Two to five years Over five years 1,800,000 1,265,809 32,573 106,603 749,184 £3,065,809 £888.360 16 SHARE CAPITAL The Society is a company limited by guarantee and therefore has no share capital. In the event of the Society being wound up each member is limited lo a liability of £1. 17 PAYMENTS TO MEMBER, COMMIThEE MEMBERS, OFFICERS, ETC. During the year amounts were only paid to executive committee meml)ers for the reimbursement of expenses amounting to £nil12023 - £nill. No other payments were made lo members, committee members or officers for fees, remuneration or gifts nor were any benefits granted. 27

Adjustments for non-cash items: Adjustments for investing or financing activities:

28

Docusi9n Envelope ID.. FECD34E349F847B8-8906-0gD81DF24B17 THE ABBEYFIELD YORK SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 CONTRACTS AND COMMITMENTS Capital commitments contracted for al 31 March 2024 in relation lo the new build project were £604,98512023- £2,948,071) The above commitments will be financed through borrowings which are available for draw down under existing loan arrangements. The remaining facility already agreed and available lo be drawn down amounts lo £65,000. 29