Registered Charity Number, 223718 Registered Company Number. W715471 FARRADAY HOUSE LIMITED Previously known as The Abbeyfield Bury Society Limited TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FARRADAY HOUSE LIMITED A Prlvate Company Limited by Guarantee Company Registered in England Number.. 00715471 Registered Charfty Numbef.. 223716 FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 CONTENTS PAGE Officers aTrJ Professional Advisers The Trustees, Repjrt lin¢ludiro Director5, ReFQrtI Independent A￿J110¢S Report Statement of Financial Activities (including Income and Expenditure Accounll 11 Balance Sheet 12 Slatemenl of Cash Flows 13 Notes to the Financial Statements 14 FARRADAY HOUSE LIMITED A Private Company Llmited by Guarantee Company Registered in England Number.. 00715471 Registered Charity Number.. 223716 OFFICERS AND PROFESSIONAL ADVISERS YEAR ENDED 30 SEPTEMBER 2024 The Board of Trustees. Mr R Bibby (Chair} Mrs C Mc￿eese (Treasurer) Mrs Y Creswell (Vice Chairl Ms L Howorth (Secretaryl Mr C Fogg Mrs E Shirt Mr R Caserta Mr D WoLlenden Registered Offi¢e'. Farraday House Cottam Street Bury BL8 1QQ Independent Auditors.. DonnellyBenlley Limited Chartered Accountsnt and Registered Auditor Hazlemere 70 Chorfey New Road Bolton BL14BY Bankers.. Barclay5 Bank plc 1 Central Street Bury BL9 OJN FARRADAY HOUSE LIMITED TRUSTEES. ANNUAL REPORT (including Directors. Report) YEAR ENDED 30 SEPTEMBER 2024 The tNstees, who are also directors of the charity for the purposes of the Compan￿8 AGL are pleased lo present their annual report logelher wth the audited financial statements of the charity for the year ended 30 September 2024. The Injstees have adopted the Pfovison of Ihe Statement of Recommended Practice ISORPI 'Accounling a￿1 ReportirvJ by Ch￿l￿'eS, in preparing the annual ￿port and financial stslements ol the charity. The financial State￿nts have been prepared in ￿Cord￿ with the ￿oUnts.ng policies set out in notes to the counts and cornply wlh the ¢hanty's governing dc¢umenl, the Charities Act 2011 and Accounting and Reporting by Charibes.. Statement of Recomrnended Practice applicable to charities preparing their ￿ounts in accordance th the Financial Reporting Stsndard applicable in the UK and Republic ol Ireland published in OctoiEr 2019. CHANGE OF NAME The company passed a special resolution on 1 October 2024 changing its narne from The Abkyfield Soc Limtted lo Farrdday House ￿mIted. REFERENCE AND ADMINISTRATION DETAILS Reference and adrninistral￿n detaits are shNn in the schedule of officers and professional advisers on pag8 3 of the financial ststements. STRUCTURE GOVERNANCE AND MANAGEMENT Govemin9 Document Farraday House knmiled is a charitable company limited by guarantee. Ils goveming document is in the form ol a MeMOra￿lum and Arb'cles of Association dated 15 February 1 %2 as amended by special resolubons dated 6 September 2004 and 28 A￿U$l 2007. As a registered charity the company is non-profft making and its directots and trustees are volunteers. Appointment of Trustee5 The management of Farraday House Limited is the responsibilrty of the tr￿stees. Any individuals can appty a5 a tnjstee but they have to be approved by the existing trustees Trustee Induction and Training As part of their induction. new trustees are provided with Info￿31￿￿ about the charity, the management stru¢lure. its history and w)rking practi￿$. In addition they are also provijed with extwls of ts Memorandum and Articles Df AsKKiation plus infomption from the Charity Commi85ion and Companies House regarding the duties and responsibilities of Iruslees. ApPrO￿late training to trustees is provided where necessary. Oryanisatlonal Strudure The business of the charity is man&Jed by the trustees. They have app)In1￿ a part-lime administratorlmanager to be responsible lo Ihe trustees for the adminislr*on ofthe work of the charity. They a￿ also ￿$￿nSible forthe bookkeeping of the charity FARRADAY HOUSE LIMITED TRUSTEES, ANNUAL REPORT lincluding Directors, Report) YEAR ENDED 30 SEPTEMBER 2024 Risk Management The Iruslees have coThJucted a review of the major risks lo vthich the charity is exposed, and systems have been established to miligale those risks and lo provide reasonable assurance against Iraud and error The main risk to charity is the possibility of a redu¢ed crcupatKy. In order lo M￿gate this risk a small additional anKsunt is included in the price costing. OBJECTIVES AND ACTivmES The objectives of the charity are to ￿lIeVe &Jed, impotent and poor people of all ¢la55es for ￿ advancement of religion and education and for other charitable pur￿se$ treneficial lo the community. Aims ofthe Charity The charity is a prOV￿er of very sheltered housing for the elderfy. PUBLIC BENEFIT We have referred lo the guklance in the Charity Commission's general guidance on public benefit when reviewing ourairnsand objectives and in planning ourfulure aclivilies. In part￿Ular, the Iruslees have consKlered the acti7￿tIeS of the ¢harity as set oul in the'obieclives and aCtiv￿.e$, secb'on above, and the 'achievements and performanTr' aThJ assessed Iheirfuture ￿an$. They are satisfied thatlhe criteria for putAic benefit are comprehensively achieved. ACHIEVEMENTS AND PERFORMANCE Review of Business Once more, l am pleased lo reportthat both of our houses (Bury & Radcliffe) have peffj)M￿d hf11. l therefore take this opporknnity to thank all our stsff for being vigilalll in keering costs lo a minimurn. Our exisbng contracl Mlh British Gas to supply gas and eleclricty carne lo an er¥J in February 2024 at the Radcliffe House and the new contr￿1 regotiat￿l. In anli¢ipab'on of the contract renewal a Capital Investsnent was made al Farraday House Radcliffe in December 2023 to N)slafl 35 sclar panels which will supply approximately 33 Kw of el￿tr￿ty to SUPFlemènl our new conlwt with British Gas. Staff and Trustees are constantly questioning the soaring ¢osls of light and heating wlhln the hyo houses and regular improvements are made lo both homes. The Trustees realise that the cost of running the homes musl be kept to a minimum lo ènable us lo continue in Ihese diffi¢ull tirres and keep residential fees al a sensible level. This, however, ne8ds to te addressed by us all 501 ask that we are vigilant with regards to heating and the use of electricity. It had been by the members al the AGM during the year that we should cease our membership of the Abbeyfield Association and name ¢hange(I lo Farraday House aThJ the changeover is prc#Jrèssing. The goTrJ work done by our staff enable5 us lo keep the excellent ￿pUtatIon we have aC￿￿S Greater Manchester and in particular Bury and R￿jC11ffe and myself and fellow Trustees acknowleth3e that it is because of our slaffs commitrnent and dedication to our residents lor which we thank them. FARRADAY HOUSE LIMITED TRUSTEES. ANNUAL REPORT (including Directors, Report) YEAR ENDED 30 SEPTEMBER 2024 Can I further Ihank our Trustees for their continued support and the excellent voluntary contribution they make lo managing our two homes and k￿pIng us on course for continued success in the fLrture. Bob Bibby Chaiman BOARD OF TRUSTEES The Direcla5 and Trustees during the year under review were as al 30 September 2024.. Mr R Bibby, Chair Mrs Y Creswell, Honarary PresKlent Ms L Howorth C Fogg Mrs E Shirt Mrs C MGAeese Mr R Caserta Mr D Wolfenden FINANCIAL REIIEW Results The SUTplus br the year was From which is added the retaned surplus brought forward Leaving a surplus carried forward of £81,637 £1,839,801 £1,921,438 rn4orty of irKome is derived from rènts received frorn residents ofthe 33 units ofsupported housiThJ available. Investment Policy In order lo maintain a good emergency cash flow Farraday House Ltd maintsins approximately £500k in an interest bearing cash ￿OUnt with Barclays Bank. However, in ordeT to maxirnise interest, FH Ltd ha5 invested £500k wth a Fund man￿ement company with a range ol funds manly within Government Borwj Funds with a 'Risk Level. of 314 out of10 Reserves Policy The boaTd rec￿niseS the need to hokj a reasonable kvel ol un￿StriCted reserve5 to secure the Charity's future and the wellking of our Farrajay House residents The level of reseryes required accordiro lo the reseNes Folicy will vary depending Ltpon any new projects, but is considered to be a minimum of 25°h of annual income. This would be £128,063 based on annual in¢c#ne forlhe year to 31 Dec£mber 2024.. At 30 September 2024 totsl reserves were £1,921,438, ofwhich £59,675 related lo reslrthd funds and £1.861,763 related to unrestrictsd fvnds. Funds of £1,329.990 can only be realised by disposirvJ of fixed assets, Total unrestriGled fu￿1$ which can te ￿alised ¥￿Ihoul the disposal offfixed assets a￿ £591,448. This figure eXc￿dS the level of reserves per the reserves kN)1￿Y by £463,385. Current levels of reserves are high as a legacy of having sold prO￿￿e$ in the past. The trustees wll not hesitate to re-invest these reserves where required to fund improvements or the addition of new f￿11111¢$ in either of our homes. FARRADAY HOUSE LIMITED TRUSTEES. AMNUAL REPORT (including Dlre¢tors' Report) YEAR ENDED 30 SEPTEMBER 2024 Future Events The trustees appreciate their responsibility lo the aged populab'on of the Bury area and are mindful lo have available to the communrty reasonably priced accommodation and assisted living. On 1 October 2024 tre company leftthe Abbeyfield network and changed its name from At&eyField Bury Society Limilgj (The) to FmJay House Limited. STATEMENT OF TRUSTEES RESPONSIBILTIES trustees Ivtho are also directors of FarTaday House Limfted fL¥ the purposes ol company lawl are resFM)nsible foi prepafing the Trustees. Annual Report and financial statements in *COrdan￿ with applicable law and United Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting PraCts.￿l. Company law require5 the Trustses lo prepare financial st*rnents for each financial year. Under company law the trustees musl notapprove the financial statements unless they are satisfied that they give a true and fair view of the stsle of affairs of the charitable company and of the iKorning resources and applical'on of resources, including ts Inco￿ aThJ expenditure of the charitable Gornpany for that peri)d. In preparing these ￿n￿cial stslements, the Irusl*s are required lo.. Sel￿t suitable accounting policies and then apply them consislenlly,. make judgements and estimates that are reasonable and Pfudenl,. stale utheiherap ￿l¢ab￿ UKAccounling Standards have been followed, subject lo any matsrial departures disclosed and explained in the financial statements., prepare the ffinanciat statements on the going CO￿eM bass unless il is inappropriate to presume that the charitable company will continue in operation., and obseNe the melh¢Jds and principles in the Charrties SORP 2019 IFRS 1021. Iruslees are responsib￿ for keeping adequate acLounb'ng records Ihal disclose with reasonable accuwy al any lime the financial posib'on of the charitable company arKI enable Ihern to ensure that the finanGial statements compty with the CompanEs Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevents'on and deteCt￿n of fraud and other irregularities. In so far a5 the tnjstees are aware.. there is no relevant audit info￿natIOn of wh￿h the charitable company's auditors is unaware., and the trustees have tsken all the steps Ihatlhey ought to have taken as trustees in orderto make themselves aware of any relevant audit informaliu) and lo establish that thè company's audilots are aware ol thal infomiab'on. SMALL COMPANY EXEMPTION In preparing this rekK)rt the diredors have taken advantsge of the specia provisijns of part15 of the Companies Act 2006 relthng lo small companies. AUDITOR A resolution proposing that DonnellyBenUey ￿mited are re-appointed as auditors of the company will be pul to the Annual General Mèeting. behalf ofthe Twslees on 4 June 2025 ibby- Chair FARRADAY HOUSE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FARRADAY HOUSE LIMITED YEAR ENDED 30 SEPTEMBER 2024 Opinion We have audited the financial statements ol Farraday House Limited Ithe'charilable company I for the year ended 30 September 2024 whKh comprise the slalernenl of frTTrancial &livilies, the baLln￿ sheet, and notes lo the financial slalements, inclthing a summary of significant accounting policies. The financi81 reporting framework that has been applied in their preparation is appli¢8ble law and United Kingdorn Accounting Standards, Incl￿1￿ FIna￿la1 Reporting Standard 102 Th& FinancFalReporting Standa￿1 applicable in the UKand Republic oflrelandlunited Kingdom Generally A￿pIed Ac(Lunling pra￿1￿) In our opinicffl thè financial siaternents., give a true and lairview ollhe slate of the charilablecompany s affairs as al 30 September 2024, and of its incomi resour￿5 and application of resources, Including ils incorTE and expenditure, IN the year then ended., have b8en property prepared in ￿￿rdan￿ wlh United Kingdom Gener8lly AC￿pIed Accounting Practice., and have been prepared in accordance with the ￿quIrements ol the Companies Art 2(Kl6. 8asis for opinlon We u)nducted our audit in a¢cordance wlh Inlemalional StaThJards on Auditing IUKI IISAS IUKI} and applKable law, Our responsibililie5 undef those standards are further described in the Auditorfs responsibilits.es for the audit ol the financial statements section ol Dur ￿pOrt. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit ol financial slalernenls in the UK, including the FRC'S Ethical Standard, and we have fuhllled our other ethical ffsponsibililies in xcordance wlh these requirements. We tel*ve that the audit evidence have obtained is sulFicienl and appropriate lo prowje a basis lor our opin¥)n. Conclu8lons relating to golng Concern In audth'r¥J the fin￿Cial staternenls, ￿ have concluded that the trustees. use of going c¢fi￿M basis of ac(x)unling in Ihe preparati￿ of the financial 51alemenis is appropriate. Based on the wort have parfom)ed, we have not ￿enIffied any material Un￿rt?IntieS reLg1ing lo events or c￿￿lI10nS that, indivkjually or collectively, may cast sKJnrficanl doubl on the charitable cornpanls abllily lo conb.nue as a going Con￿rn for a periol ol al least hvelve months from when the fina￿la1 slalements are authorised for issue. Our respx)nsibilities and the responsibilities of tre Iruslees with respect lo gcing concem are described in the relevant sections of this rewrt. Other infomatlrm The Iruslees are responsible lorlhe olher infornalion. The other inlorn*ion cornpnses the information induded in the Iruslees, annual report, olherlhan the financial slalernents and our auditor'5 ￿Wrtthere0n. our0pin￿n on the financial slatetnenls dr￿$ ￿1 coverlhe other Infomialion and, ex￿p1 lo tre extent olhetvjise explicitly slated in our report, we do not express any fomi of assuran￿ conclusion thereon. In conn￿tk￿ wth our a￿11 of Ihe financial slalemen15, our respjnsibilrty is to read IIE other infO￿￿'0n ￿d, in doi so, consider W￿￿{her the olher in1ortnal￿n is materially inconsislenl wlh the financial slaements or our knOw￿dge obtained in the audit or otherwise appears lo be materially misslaled. 11 we identify suth material inconsistencies or apparent material mis51alemenls, we are required lo determine whether this gives rise lo a material tnisststemenl in the financial StaleN￿nts themselves. If, bawj on the work we have performed. we conclude that Ihere B a material misslalemenl of this other in1orrt￿ll0ft, ￿ are required lo reFKJrt that la¢t. FARRADAY HOUSE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FARRADAY HOUSE UMITED- continued YEAR ENDED 30 SEPTEMBER 2024 We have nothing lo report in this regard, OplniMs on other matters prescribed by the C¢)mpanles Act 2006 In ouropinion, based on the work undertaken in Ihe coutEe of the audit.. the information given in the INslees' report lincorporaling the directors, retKJrtI prepared lor the purposes of company law, lor the financial year for which the financial slalemenls are prepaied is cxinsislenl wlh the financial statements, and the directors, report has been wepared in accordance wlh applicab￿ ￿gaI r4uirements. Matters on vthlch WÈ are required to report by excepts'on In the light oloui k￿￿edge ar￿ understanding of the charitable cornpany and its enwronmenl obtained in the course of the audit. we have not idenirfi&Y material misstalemenls in the directors, We have Th)Ihing lo report in respect of the following matters in relat￿n lo 5vh￿h the CompanEs Act 2006 requires us lo r8px)rt lo you rf, in our opini)n.' ad￿uate acc(yJnling remrds have not teen kept, or returns adequate for our a￿11 have not been receiv￿ from branches not visited by us,. or the finanrAal slalements are nal in agreefnent vith the accounlirKJ records and relums,. or certain disclosures ol directots, remuneration specifted by Lgw are not made,. or e have not received all the informats'on and explanations we require for our a￿11., or the Iruslees were not enlilled lo prepare the finawial statements in accordan￿ with the small companies, reglme aThJ lake advanlagèollhe small companies, exemptions in preparing the directors, reFX)rt 2nd from the requ1￿ment lo prepa￿ a strategic report. Responsibilities of trustees As explaned m￿e lully in the trustees, reswnsibililies slalemenl sel oul on paJe 7, the trust￿ Iwho are also the directors of the Charitab￿ Lyjmpany for the purposes of company lawl are responsible forthe preparation of Ihe financial slalernents and for being satisfied that they give a true and lair view, and for s￿h internal control as the trustees delemiine is ne￿Sary lo enable the preparation of financial statements that are free from rnaterial misslalemenL whether due lo fraud or error. In preparing IFE financial stalernenls, the trustees are reSpOrtsib￿ for assessing the charitable company's ability lo continue as a going concern, discbsing, as applicab￿, matters relaled to gcmng cortem and using the going con¢em basis of accounting unless the Iruslees either intend lo liquidalethe charitable company or lo cease operations, or have no realistic allemative but lo do so. Auditor's responsibiliti88 forthe audlt of the financial 5tatement8 Our abjeclives a￿ lo obtain reasonable assuran￿ abtsul whether the financial statements as a whole are free from material mis5talernent, whether due lo traud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assLJrance, bul is not a guarantee that an audit conducted in aC(￿rdanCe wilh ISAS IUKI wll always del￿1 a material misslalemenl when il exists. Misslalemenls can arise from fra￿ or error and are considered material if, individually LY in the aggregate, they could reasonably te expected to inlluence the economic (Ècisiolls of users taken on the basis of these financial stalemenls. FARRADAY HOUSE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF FARRADAY HOUSE LIMITED . continued YEAR ENDED 30 SEPTEMBER 2024 Irregularities, including fraud, a￿ instances of non-C(rtnpliance with and regulatI￿S. We design procedures in Ilne with our responsibililEs, outtined above, lo detect material misslalements in tsswlol irregularities, including fraud. The extent lo which tsjr prttedures are Capab￿ of detecting Irregul￿tIes, including fraud is detailed Èelow.. We obtained an understsnding of the legal and regulatory fratrework applicable lo the company and the sedor in which il operates and considered the risk of non-complian￿ wilh applicable laws or regulations. We detetTnined that the followir@ laws aThJ regulab'ons were most significant.. the CornpanEs Ad 2￿)6, the Charities Act 2011. health and safely regulations and employment law. We desuned audit procedures lo respond lo the risk, recognising that the risk of not detecting a material misstalemenl due lo frajd is higher than the risk of not detecting one resulling from error, asfraud may involve deliberate concealment, lorexample, forgery or intentional misrepresentations, or through collusion. We obtained an uThJerstaThJing of the comwy is comF4ying wilh those ￿g￿ and regulatory frameM)rks by making enquiries of the management. We corrotK)raleé our enquiries through our Teview of b)ard tninutes. Our lesls also included 4reeing Ihe financial statements disclosures lo undertying supporting documenlalK)n. There are inhertnt limitations in the audit pfccedures described ab)ve and, the further retnoved nonrthe use of Wi-Fi whilsttravelling. There Ere no other Iruslee expenses paid. 18 FARRADAY HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 SEPTEMBER 2024 12. TAXATION ON ORDINARY ACTIVITIES Farraday House Limited is a register￿j charity aThd ￿ Ikerefore exefflpt from liabiltty lo taxation on ils incoffle a capital gains. 13. HOUSING PROPERTY COST Ai1 October 2023 Additions Hous1￿ Associab'on grant rm'sposals Ai s) Seplernber 21)24 2,3(Kl,186 1991,6671 1.308,519 DEPRECIAnON Al 1 October 2023 Charge lor the year AI 30 Septern￿r 2024 709,235 49,221 758,456 NET BOOK VALUE AI 30 Seplember 2024 550,063 AI 30 September 2023 599,284 Housing properbes value, nel ol grant and depreciation Compr￿.. 2024 2023 Freehold land aThJ buikjiros 550,C63 599,284 19 FARRADAY HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS {continued) YEAR ENDED 30 SEPTEPJFBER 2024 14. OTHER TANGIBLE FIXED ASSETS Comwter Inyrovements Equlpment to Property Fixtures & Ftitings Total COST Al1 October 2023 Additions rAsposals AI 30 Seplember 2024 1,273 649 248,917 36,132 153,641 403,￿1 36,781 1.922 285,049 153,641 440.612 DEPRECIATION At 1 October 2023 Charge for the year Oeprech3lion on dispos At 30 September 2024 1,2n 162 41,435 11,402 121,720 4,903 164,428 16,467 1,4 52,837 126,623 180,895 NET BOOK VALUE Al ￿ September 2024 487 232,212 27,018 259,717 AI 30 SEPTEMBER 2024 207,482 31,921 239,403 15. FIXED ASSET INVESTMENTS 2024 2023 Market Val￿ al1 Odober 2023 Additions DisFosal prwjs Nel inveslrnenl gainslllossesl Market value al 30 septern￿r 2024 471,578 456.697 48,632 520,210 14,881 471,578 Historica cost- original 500,000 5tx),000 Investments at market value comprlsed: 2024 2023 AJ Bell Invest￿ntre General Invesknenl Accounl 520,210 471,578 The investment manager is responsible for managing the Investn￿nI porttoli) in the test interests of the charity which may involve the purchase and sale of shares. Anygains on the sale of shares a￿ reinvested diredy in the fund arKI are there[￿e Ireal* as unrealised by the charity. Investments within the &neral Investment Account are valued on the basis of mid-markel prices from the appropriaie Slc¢k Excharoe orfrom the ￿ levanl fund manager al the bala￿e sheet dale. The ￿n￿ease in value of the inveslrnents amounlirg lo £48.632 is an un￿alised gain lo be disclosed under Chatilies SORP 2019 and dLES not reflect any adu gains realised by the charily from s21es of investrnents. 20 FARRADAY HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 SEPTEMBER 2024 16. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income Sundry debtors 15,957 13,418 179 13,.597 15,957 17, CREDfTORS'. AMOUNTS FALLING DUE WITHIN OME YEAR 2024 2023 Trade creditors Other laxalion and social sdruiity Other creditors Accruals and defeired ir￿rne 8,489 3,086 2,235 14,784 2,477 2,426 12,395 32,082 28.530 18. sTATEME￿r OF FUNDS Brought Forward Income Expenditure Transfers Inlout Unrealised Gain Carried Forward Restncled fund Unrestricted fund 68,896 1770,905 9,221 470,027 59,675 48,632 1,861,763 512,253 21 FARRADAY HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued} YEAR ENDED 30 SEPTEMBER 2024 19. RECONcIL￿TION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Nel incomellexpendilure) for the year (as per Slalernenl of Financial Aclivitiesl 33,Q05 38,484 Adjustment for: Deprecialior) charges Dividends, interest and rents from inveslrnenls Loss on the sale of fixed assets DecreaseIlin￿easeI in stocks Ilncreaseydecrease in debtors Idecreaseyincrease in creditors Net cash wovided by operating activities 65,688 64,870 {2,360) 3,552 (6,289) 5.996 92.781 t03,001 20. ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash at bank and in hand Total 54 21. ULTIMATE CONTROLLING PARTY The ullirnate controlling pty is the Iruslees as detsiled on page1. 22. FINANCIAL COMMITMENTS Total finanryal wmilrnents at 30 September 2024 which are included In the balan￿ sheet are £2,65212023.' £3,588) 23. RELATED PARTY TRANSACTIONS David Woffenden. who is a trustee ofthe charity, B self4rnpbygJ decorator aNI during the year the chanty paid £1,40512023', £2,410) to him for d￿rating serv¢ces. 24, CONSnTUTION The Charitab￿ Company is limited by guarantee and d08s not have a share caprtal. In the event of the charitab ompany Ltino t4DuThI up the members are comrnilled to a ￿nth"bUt10n of£1 each. 22 FARRADAY HOUSE LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 30 SEPTEMBER 2024 25. ANALYSIS OF NET ASSETS BETWEEN FUNDS Final balances al 30 SeplerTrber 2024 are represented by'.- Unrestricted Fund5 Restricted Funds Total Funds Tangible Fixed Assets Current Assets Current Liabilits'es 1.270,315 619,978 28,530 1,861,763 59,675 1,329,990 619,978 28,530 1,921,438 59,675 26. POST BALANCE SHEET EVENTS On 1 October 2024 the company left the Abbeffiekj network and changed its name from Abbeyfield Bury Society Limited IThel lo Farraday House Limited. 23