# **ABBEYFIELD LOUGHTON SOCIETY LIMITED** **DIRECTORS' REPORT AND FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** **31ST MARCH 2023** **Registered Number: 758621** **Registered Charity Number: 227729** **ABBEYFIELD LOUGHTON SOCIETY LIMITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023** ## **INDEX** ## **Page Number** |1 - 3|-|Directors' report| |---|---|---| |4|-|Examiners' report| |5|-|Statement of financial activities| |6|-|Balance sheet| |7-11|-|Notes to the financial statements| ||**_For the information of the directors_**|| |12|-|Detailed income and expenditure account| **ABBEYFIELD LOUGHTON SOCIETY LIMITED** |DIRECTORS AND TRUSTEES:|C M Franklin (Chairperson)| |---|---| ||C J Rawlinson (Treasurer)| ||P B Medway| ||L Richards| ||L G Murphy| ||S A Murphy| |SECRETARY:|C M Franklin| |PRESIDENT:|S Murray| |ACCOUNTANTS:|Sterlings Accountancy Solutions Ltd| ||131-133 Roman Road| ||Mountnessing| ||Brentwood| ||Essex| ||CM15 0UD| |BANKERS:|Barclays Bank plc| ||207 High Road| ||Loughton| ||Essex| ||IG10 1AZ| |REGISTERED OFFICE:|121 High Road| ||Loughton| ||Essex| ||IG10 4LT| |INVESTMENT MANAGERS:|CCLA Investment Management Limited| ||COIF Charity Funds| ||80 Cheapside| ||London EC2V 6DZ| ||W H Ireland Ltd| ||24 Martin Lane| ||London| ||EC4R 0DR| ||Columbia Threadneedle Fund Management Ltd| ||PO Box 9040| ||Chelmsford| ||Essex| ||CM99 2XH| Page 1 **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **DIRECTORS' REPORT** The directors present their annual report and the financial statements for the year ended 31st March 2023. This report is a Director's Report which as required by section 417 of the Companies Act 2006 and a Trustees' Annual Report as required under Part 8 of the Charities Act 2011. The trustees confirm that the financial statements comply with the requirements of the company's governing documents, the Charities SORP (FRS 102) and the Companies Act 2006. ## **Structure, Governance & Management** The Society is constituted by its Memorandum and Articles dated 24th April 1963 registered under the Companies Act 2006 (number 758621). It is also a registered charity (number 227729). The accounts have, therefore, been prepared to comply with the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and revised in May 2008. The Society is an affiliated member of The Abbeyfield Society. The Society is a company limited by guarantee not having any share capital. Each member guarantees to contribute £1 towards the liabilities and costs on winding up. The directors of the charity are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees serving during the year and since the year end were as follows: C M Franklin P B Medway C J Rawlinson L Richards L G Murphy S A Murphy ## **Recruitment and Appointment** Potential new trustees are recruited in one of two ways. Either the trustees approach someone who they think may be interested and have time to commit to the organisation, or an interested, informed person approaches an executive committee member with a view to joining the committee. The committee would then formally discuss the applicant's merits and skill sets. Following a formal screening process and a police check, if the committee consider that the applicant would enhance the committee's work, he or she is formally elected. Page 2 **ABBEYFIELD LOUGHTON SOCIETY LIMITED** **DIRECTORS' REPORT** ## **Induction and Training of Trustees** By way of formal introduction Trustees are given training on policies and procedure relative to the role. The charity requires trustees and staff to attend mandatory, regular training courses on a variety of topics. The trustees form The Executive Committee of the Society and are responsible for all decision-making. Trustees are appointed on a rotational basis by the members at the Annual General Meeting. The trustees have identified the major risks to which the Society is exposed and those risks have been mitigated. The trustees are currently reviewing their policies which have been in place for many years. In accordance with the Articles of Association L G Murphy and S A Murphy retire from the Committee at the Annual General Meeting and will offer themselves for re-election. ## **Risk Management** The main areas of risk to the charity are financial and physical. The trustees undertake a formal risk assessment on a frequent basis to ensure that physical risks such as loose carpet, which could pose a risk to residents, are identified and dealt with early. Staff are subject to police screening and training for key areas in Health and Safety, Food Hygiene and prevention of abuse. Fire drills and the regular testing of fire alarms are undertaken often to ensure staff and residents are aware of the emergency procedures. Each resident's room has displayed fire evacuation procedures and a panic button in case of emergency. In addition, residents are offered pendant personal alarm systems. Investments are made with the ultimate aim of high liquidity, maximum yield with very low capital risk. W H Ireland Ltd manage these investments. ## **Objectives & Activities** The principal activity of the charity throughout the year was providing care and accommodation for elderly and lonely persons in accordance with the Memorandum and Articles of Association and the aims and principles of The Abbeyfield Society Limited. The trustees regularly review the needs and the facilities provided for the residents with a view to carrying out such work as maybe required, to improve and enhance the residents' quality of life. In this respect we continued with the general upkeep and improvement of the building. Specifically the roof was repaired at a cost of £1,870, three rooms were upgraded costing £17,665, the visitors toilet refurbished for £2,320, a new boiler installed costing £2,025 and the laundry equipment replaced costing £2,633. It is the charity's policy to cover its operating costs with income from residential charges. Any surplus on investments is set aside for future use to improve the building and facilities for residents. ## **Achievements & Performance** The aim of the trustees is to ensure full occupancy of the home and to provide a comfortable environment for the residents. We maintained the same occupancy level as at the end of last year having two vacancies throughout the year. ## **Financial Review** Rental income increased from last year due to the rent rate rise and 2 additioanl rooms being occupied for the entire year. Overall, as expected most operational costs increased, in particular light and heat. With the current economic climate we anticipate all costs to continue to increase in the coming year. There was a deficit of £16,435 before property and investment revaluations; the investments fell in value by £28,771 resulting in an overall deficit of £45,206 for the year. Pggc J ABBEYFIELD LOUGHTOIY SOCIETY LIMITED DIREcfoRSI REPORT Re￿rYeS PolSty As 0131 Mtsr¢h 2023. the tothl unr¢striEt¢d r¢serves of the ¢h￿ry ￿ndS at £2.414.893 whith ihcludes thc ￿￿l￿allOn T¢5CryC of £1.182.457. Income from YesideJts cover5 all thE B¢ntr*] expenxs of runnth8 a horn¢ inclwjing inl¢rMI decorations and minor T¢pairs. The inves¢meni incowK 1$ g•Jernlly used capital eX￿)dItuT¢ orm•jor work. SI￿rt fjnd long term inwe8tm¢MB ar¢ •¢quiYtd •Thl held It the th"xrdion of the direttors. Pl*us For Future Per50th Catt is tsktn lo c[k$U￿ thai when any n¢w rc5id¢ni is thieted into th¢ xwmftM>dalioh. li is ncwly ele8ncd. rcdctoraitd 4nd. where ne¢essory, re-carpctrd. Every ¢ffort is mode ￿ ¢n5UT¢ thai the n¢w resid¢ni iniegraie5 with Ibe oiheT rt5id¢nts. A one week ¢ri•l 15 th¢r¢firf¢ muthiory. w en5u￿ thit th¢ ￿￿ent •nd home ore ¢ompAiiblc. Tr¥*t¢o' rwtsrtilbllltlts ID rd*tlon to Iht IINalld￿ i¢atéiiit*ts The misltts Iwho arc Blyo dIrth0￿ ftw pu4Mw Qfcomrr￿ l•wl ar¢ r¢spMsibl¢ for prqMrin8 the Armu41 Report And the fininciil 51aiemehts in a¢cordarrte with •ppliubl¢ J&w *nd ￿￿Ul*[lon￿. Company law T¢quiru th¢ trustees to prepare financial s¢a¢wn¢nts for each firwKiil year. Uryjcr thai law the InJ$lcts musi prepare the financial ststsm¢nts in with ￿nIthd Kingdom G¢nerally A￿ty1td Ae¢ouniin8 Practice IUnil¢d KJ'D8dom Actouniin8 s￿ndards and •pplirabl¢ lawl. Undcr Conyny law thc tru$tc¢s must approv¢ the fLtwicial s¢aicm¢nts unlcss thcy wr sat15f￿ that they gi￿ a InK flir ￿tW of the s¢al¢ of affairs of thc rh4rilable company ond ¢)f th¢ incoming T¢SOWCU •pplicalion of resourw incl￿41￿8 the in¢ome ind e¥p¢ndiiure. of Ihe th￿.￿ble compaDy for th* WI￿1. stieci sul￿bI¢ x¢¢)uDlih8 plicie$4nd then •Fvly Ih¢m c4)kK¢i8t¢fiily: observe th¢ mcthoth llnd pYin¢iples in thc Charili¢5 SORP: m•k¢jud8eDxnts and cstimates that Ire r¢%wn•bl¢ and whttherapplK•bk UK wx(xthiii)8 sthndards ￿ve followc4 5ubj.cci lo any mJl¢ri•l dyrnir¢5 dis¢10ged and ¢xpl•in¢d ih the ftn•nci41 s￿l¢m¢nts. •ThJ prtp•r¢ the OD the 8OitiS toh¢¢rn b*sis uoles% li is in*pwopiialC ￿ pre￿llne that the p4ny will coniinu¢ lo yrat¢. The M￿te¢S •ff res[￿￿1b1¢ for k¢¢pinK athquM¢ •ccourbtin8 record5 that sulTricni to Show and explain the Ch￿.1&ble cornpaDy5 trxhsaetions and di￿105¢ with rea￿nIble ai any lime th¢ fuwnrial p05iiion of Ihc lthritable conbpgny 4nd enabk thcm Mb ¢n5u￿ that the fmancial sts*mtnts cotwly with chariti￿ Act 2(Xlfj. Thcy ue also rc5POllsibl¢ for ufe8uardin8 th¢ LtseLS ofthc ¢ompgny and hcncc for iaking Te&sotthle 5tcps for thc prcvcnliosj lllld det¢¢tioD offraud and other iThe8ulariiie& This rerKJrt has been pryrtd in accorda￿¢ with th¢ provi5in5 yplir•bk to companies sufye¢t lo the Small compani¢$' re8im¢. By OrdtT of the Bowd of TTuslees C M Fra[￿11￿ Chai￿¢r$on 025 Dat¢: i/ Page 4 **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF** ## **ABBEYFIELD LOUGHTON SOCIETY LIMITED** I report on the financial statements for the year ended 31 March 2023 set out on pages 5 to 11. ## **Respective responsibilities of trustees and examiner** The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it is my responsibility to: - examine the accounts under section 145 of the 2011 Act - to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act - to state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **Independent examiners statement** In connection with my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in, any material respect the requirements: - to keep accounting records in accordance with section 386 of the companies Act 2006 and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **David Parker FCA Institute of Chartered Accountants in England & Wales** Sterlings Accountancy Solutions Limited 131-133 Roman Road Mountnessing Brentwood Essex CM15 0UD Date: 24 July 2023 Page 5 ## **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING THE INCOME AND** ## **EXPENDITURE ACCOUNT AND STATEMENT OF RECOGNISED GAINS AND LOSSES** ## **FOR THE YEAR ENDED 31ST MARCH 2023** |**Notes**
**Incoming resources**
**Incoming resources from generated funds**
Voluntary
Donations
Activities for generating funds
Investment income
3
**Incoming resources from charitable activities**
Income from residential charges
**Resources expended**
**Charitable expenditure**
Costs of charitable activities
4
Governance costs
5
**Total resources expended**
**Unrealised surplus/(deficit) on investments**
**Fund balance carried forward**
**Other recognised gains and losses**
Unrealised gain on land and buildings
**on fixed assets for the Society's use**
**Net movement in funds**
Fund balance brought forward
**Total incoming resources being net incoming**
**resources available for charitable application**
**Other incoming resources**
**Net incoming/(outgoing) resources for the year**
**before transfers and investment gains and losses**
**being the surplus/(deficit) for the year for**
**Companies Act purposes**|**2022**
**Unrestricted**
**Restricted**
**Total**
**Total**
**£**
**£**
**£**
**£**
-
-
-
-
8,711
-
8,711
4,733
131,600
-
131,600
109,976
-
-
-
140,311
-
140,311
114,709
146,289
-
146,289
135,847
10,457
-
10,457
10,406
156,746
-
156,746
146,253
(16,435)
-
(16,435)
(31,544)
(28,771)
-
(28,771)
13,184
-
-
-
-
(45,206)
-
(45,206)
(18,360)
2,460,099
-
2,460,099
2,478,459
2,414,893
£
-
£
2,414,893
£
2,460,099
£
**2023**| |---|---| - All transactions are derived from continuing activities - There are no gains or losses for the year other than those recognised in the Statement of Financial Activities. Page 6 ABBEYFIELD LOUGHTON SOCIETY LIMITED BALINCE SHEET AS AT 31ST MARCH 2023 2023 2022 Notrs Tan8lble Fl¥ed Hou5ltLB properties Inv¢simcnts I.7￿.0( 44Y,D86 1,71K).(KKI 477,¥57 2,149.080 2.177.857 Current Amtts D¢btors Ca$h ai knd in h 2.942 274281 284,939 277223 287,585 Cr¢dliors'. amounts fallin8 within one 10 5.343 Net CurreAt 265.807 282,242 Total Aveti L¢M Lhblllths £ 2.414.893 £ 2.460.099 Fln*nttd by: UDrntrlrttd ruervN: Retsincd 3urplus Rev8luJtion reserve 12J2.436 .182.457 1.277.642 1.1¥2.447 £ 2.414.89J £ 2.460.099 Th¢ (omp￿Y 15 ¢ntitkd to ¢xempti0tt from audii undtr SeL*ioh 477 of thc coThy￿1Cs Aei 21￿6 for th¢ y¢arertd¢d 31 March 2023. The membus have Doi required th¢ COTryaoy ￿ obthin 4n •udilof its for th¢ cndcd 31 MarLh 2023 in ￿COrd￿￿ with Section 476 of Cotwies Aci 2(￿. The direciors aLknowlcdgc thcirrwonsibililie5 for". lal ensuring thHi th¢ compatty keeps a¢cowiiing T¢cord5 which co￿91Y with Scctions 386 and 387 of th¢ CompNnic5 Act 2006 and (bl preparing fEDanciJl 5ts1¢mEnts which Sive a true arhj fair ￿tW of the swe of affairs ofthe company a5 ai ihc end of cach finjnrial year of its profit or loss for cxh fI￿n(I•l ycgr in •¢COTdarKe wilh th¢ Tequircmcnts of Scciions 394 8nd 395 and which oth¢M5¢ conyly the tequirenxnts ofthe Coft¥Janits A¢1 21Mkn r¢latin8 io flnancial siaicments. 50 far45 4pplicabie to the Company. The fman¢Èal s¢*tements ￿ve beeD pr¢pArtd in Kcord* with the SPEciryI pro%rysions of Part 15 of the Compllni¢8 A 2006 relati￿ to SMDU clwitabk •its alld with tho fuwKial re￿8 Stsndard fly Sm•Jl¢r Enliiic5 IcfYccii¥c ApTiI 20081. ThE financial State￿ts We￿ aPpTDv￿ by th¢ t#)*rd of di￿£t￿5 tk* dat¢ Shown b¢iow atw] were signed ort its behalf by.. C M FraDkiill. Cbajrycrso . Tr¢asurcr // ILy5 The note5 on pagcs 7 to I I fiym panof ststet1￿* Page 7 **ABBEYFIELD LOUGHTON SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31ST MARCH 2023** 3 ## **1. STATUS OF SOCIETY** The Society is registered under the Companies Act 2006 (number 758621) and is a registered charity (number 227729). ## **2. ACCOUNTING POLICIES** ## _**Accounting Basis**_ These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for Charities applying FRS 102, the companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from January 2015. The Company is a Public Benefit Entity as defined by FRS 102. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Under Companies Act 2006 s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective. ## _**Incoming Resources**_ Income from donations is included in incoming resources when these are receivable. Income from residential charges is accounted for on a straight line and accruals basis. Investment income is accounted for on an accruals basis. ## _**Resources Expended**_ All resources expended can be separately identified between different classes of expenditure. There is no need for apportionment. ## _**Housing Land and Buildings**_ The cost of property is the purchase price plus costs of developing the property to enable it to be occupied. All invoices and architect's certificates relating to capital expenditure are included in the financial statements at gross value provided that the expenditure incurred or the architect's certificate was completed by the end of the accounting year. Expenditure on any scheme aborted is written-off in the year in which it is recognised that the scheme will not be developed to completion. Where the directors consider that a property has fallen below recoverable amount, the carrying value of the property is written down directly to the Statement of Financial Activities to estimated open market value for existing use. When the directors consider the property value has increased, the carrying value is increased with the surplus being credited directly to the revaluation reserve. ## _**Depreciation**_ Freehold property is carried at cost/valuation and is not depreciated. It is company policy to maintain its freehold property to a high standard, because of this the property maintains a residual disposal value in aggregate at least equal to the book value and accordingly no provision for depreciation is made. This represents a departure from the Companies Act 2006 which requires depreciation to be charged on tangible fixed assets. The directors consider this departure to be necessary to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. Page 8 **ABBEYFIELD LOUGHTON SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31ST MARCH 2022** ## **2. ACCOUNTING POLICIES - Continued** ## _**Future Cyclical Repairs and Maintenance**_ Provision is made for major repairs or cyclical maintenance only where they represent legally binding commitments or obligations at the balance sheet date. ## _**Corporation Tax and VAT**_ The Society has charitable status and is exempt from corporation tax on the income it has received. The Society is not registered for VAT. Accordingly no VAT is charged to residents, and expenditure in the income and expenditure account includes the relevant VAT. ## _**Investments**_ Investments held are stated at bid price value at the balance sheet date. Purchases and sales include transaction fees. Realised and unrealised gains and losses are credited/charged to the Statement of Financial Activities. ## _**Pensions**_ The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. ## _**Funds**_ The Society has no Restricted or Endowment Funds. All funds are credited to the General Fund held for the future running of the Society. ## **3. INVESTMENT INCOME** |Bank and short term deposit interest
Dividends
Disposal of investments
**4.**
Advertising
Television licence
**COSTS OF CHARITABLE ACTIVITIES**
Repairs and maintenance
Staff salaries and costs
Food and other household costs
National Insurance
Pension contributions
Insurance
Garden maintenance
Rent and rates
Heating and lighting
Telephone|**2023**
**£**
2,111
6,600
-
8,711
£
**2023**
**£**
38,966
73,929
191
1,193
6,942
3,129
4,163
11,220
2,287
174
3,627
468
146,289
£|**2022**
**£**
51
4,682
-| |---|---|---| |||4,733
£| |||**2022**
**£**
38,685
68,582
588
966
5,929
3,088
3,994
7,367
2,629
166
2,971
882| |||135,847
£| Page 9 **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **5. GOVERNANCE COSTS** |Affiliation fee: The Abbeyfield Society
Accountancy
Legal and professional
Printing, postage and stationery
Computer expenses
General expenses|**2023**
**2022**
**£**
**£**
2,902
2,982
4,458
4,301
1,200
1,744
7
44
330
464
1,560
871
10,457
£
10,406
£| |---|---| ## **6. EMPLOYEES** The Society had 5 (2022 - 4) employees, amounting to three full-time equivalent employee, who run the accommodation unit. No employee earns more than £60,000 per annum. ## **7. FIXED ASSETS** |**FIXED ASSETS**|| |---|---| |**Freehold Land and Buildings**
**Valuation**
At 1st April 2022
Revaluation surplus
At 31st March 2023|**Land and**
**buildings**
**held for**
**letting**
**£**
1,700,000
-| ||1,700,000
£| The property valued on 23 July 2014 by Heather Thirtle F.R.I.C.S. on the basis of the open market value for existing use. The original cost of the property, including improvements, was £517,543. Page 10 ## **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **8. INVESTMENTS** |**8.**
**INVESTMENTS**||| |---|---|---| |Valuation brought forward
Disposals
Revaluation surplus/(deficit)
UK Listed investments
Columbia Threadneedle Management Funds
iShares Corporate Bond
**9.**
**DEBTORS**
Prepayments and accrued income
**10.**
**CREDITORS**: Amounts falling due within one year
Other creditors
Accruals and deferred income
Investments comprising greater than 5% of investments are as follows:-|**2023**
**£**
477,857
-
(28,771)
449,086
£
**2023**
**£**
449,086
449,086
£
**2023**
**£**
61,984
-
**2023**
**£**
2,942
2,942
£
**2023**
**£**
464
10,952
11,416
£|**2022**
**£**
464,673
-
13,184| |||477,857
£| |||**2022**
**£**
477,640| |||477,640
£| |||**2022**
**£**
65,285
-| |||**2022**
**£**
2,646| |||2,646
£| |||**2022**
**£**
394
4,949| |||5,343
£| Page 11 **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31ST MARCH 2023** ## **11. RESERVES** |At 1 April 2022
Operating surplus/(deficit) for the year
Revaluation surplus/(deficit) in the year
At 31 March 2023|**Freehold**
**Revaluation**
**Reserve**
**£**
1,182,457
-
-
1,182,457
£|**Investments**
**Revaluation**
**Reserve**
**£**
-
-
-
-
£|**Unrestricted**
**Reserve**
**Total**
**£**
**£**
1,277,642
2,460,099
(16,435)
(16,435)
(28,771)
(28,771)
1,232,436
£
2,414,893
£| |---|---|---|---| ## **12. SHARE CAPITAL AND CONTROLLING PARTY** The Society is a company limited by guarantee not having any share capital. There is considered to be no controlling party. ## **13. PAYMENT TO MEMBERS, COMMITTEE MEMBERS, OFFICERS, ETC.** Payments to members of the Society for travel and sundry expenses reimbursed are as follows:- ||**2023**|**2022**|| |---|---|---|---| ||**£**|**£**|| |C J Rawlinson|260||198| |C M Franklin|3,772||174| The trustees did not receive any remuneration during the year. Page 12 ## **ABBEYFIELD LOUGHTON SOCIETY LIMITED** ## **DETAILED INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 31ST MARCH 2023** |**Income**
Income from residential charges
Donations
Deposit interest
Dividends
Other income
**Expenditure**
Affiliation fee: The Abbeyfield Society
Audit and accountancy
Legal and professional
Printing, postage and stationery
Computer expenses
General expenses
Repairs and maintenance
Employee costs
Food and other household costs
Garden maintenance
Rent and rates
Heating and lighting
Telephone
Television licence and rental
Insurance
Advertising
**Operating surplus/(deficit) for the year**
Revaluation of land and buildings
Revaluation of investments
**Surplus at beginning of year**
**Total Expenditure**
**Surplus at end of year**|**2023**
**2022**
**£**
**£**
**£**
**£**
131,600
109,976
-
-
2,111
51
6,600
4,682
-
-
140,311
£
114,709
£
2,902
2,982
4,458
4,301
1,200
1,744
7
44
330
464
1,560
871
10,457
10,406
38,966
38,685
75,313
70,136
6,942
5,929
82,255
76,065
3,129
3,088
4,163
3,994
11,220
7,367
2,287
2,629
174
166
3,627
2,971
468
882
25,068
21,097
156,746
£
146,253
£
(16,435)
(31,544)
-
-
(28,771)
13,184
(45,206)
(18,360)
2,460,099
2,478,459
2,414,893
£
2,460,099
£|**2023**
**2022**
**£**
**£**
**£**
**£**
131,600
109,976
-
-
2,111
51
6,600
4,682
-
-
140,311
£
114,709
£
2,902
2,982
4,458
4,301
1,200
1,744
7
44
330
464
1,560
871
10,457
10,406
38,966
38,685
75,313
70,136
6,942
5,929
82,255
76,065
3,129
3,088
4,163
3,994
11,220
7,367
2,287
2,629
174
166
3,627
2,971
468
882
25,068
21,097
156,746
£
146,253
£
(16,435)
(31,544)
-
-
(28,771)
13,184
(45,206)
(18,360)
2,460,099
2,478,459
2,414,893
£
2,460,099
£| |---|---|---| |||114,709
£| |||10,406
38,685
76,065
21,097| |||146,253
£| |||(31,544)
-
13,184| |||(18,360)
2,478,459| |||2,460,099
£|