Reg. No. 00765860 THE ABBEYFIELD FULWOOD SOCIETY LIMITED UNAUDITED REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 CHAMPION Chartered Accountants 7-9 statlon Road Hèsketh Bank Preston PR4 6SN
THE ABBEYFIELD FULWOOD SOCIETY LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS PAGE Registered Social Housing Provider InformalSon Report of the Executive Committee Statement of Executive Committee responsibilities Accounlants Report to the Board Statement of Comprehensive Income (including Income and Expenditure Account) 6 BalanGe sheet Notes to the financial statements 8-13
THE ABBEYFIELD FULWOOD SOCIETY LIMITED REGISTERED SOCIAL HOUSING PROVIDER INFORMATION FOR THE YEAR ENDED 31 AUGUST 2023 Executive Committee (Directors}: Mrs K L E Gibson Mr B Walmsley Ms L Whitworth Mrs M V Duckelt Company SeGrelary: Ms L Vvhilworth Eslablishment.. The Society is governed by ils Memorandum and Articles of Association and is a company limited by guarantee Registered Office: Howard House 352 Garstang Road FLrlwood Preston Lancashire PR2 9RY Bankers: Nalional Westminster Bank plc 292 Garstang Road Fulwood Preston PR2 4RG Accounlants: S M Robinson ACA Champion Chartered Accountants 7-9 Slalion Road Hesketh Bank Preston PR4 6SN
THE ABBEYFIELD FULWOOD SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 AUGUST 2023 The Executive Committee present their report, logethor with the Financial Slalements of th6 Company for the year ended 31 August 2023. OBJECTIVES AND ACTIVITIES We have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and planning for future activities. In particular, the Truslees consider how planned activities will contribute to the aims and objectives Ihey have set. The object of the charity is lo provide the elderly wlth their own home within the securily and companionship of Small households which can provide focal points for goodwill and friendly contact within the community. STATUS AND GOVERNANCE The Abbeyfield Futwood Society Limited is registered under the Companies Act as a Company Limited by Guaranlee (number 00765860) and is also registered under the Housing Act 1974 as being wholly engaged in housing activities as defined by that AGI. (Housing Corporation registration number H22521. The company is also a registered charity (Number 229830). DIRECTORS I EXECUTIVE COMMITTEE The Executive Committee who served during th8 year and at the date of issue of this report were.. Mrs K L E Gibson Mr B Walmsley Ms L Whitworth Mrs M V Duckett Mr K Duckelt {resign8d 30 September 2022) Members of the charitable company guarantee to contribute an amount not exceeding £110 the assets of the charitable company in event of winding up. The total number of such guarantees at 31 August 2023 was 4. RESULTS The results for the year arising are as set out in the Income and Expenditure Account. The Executive Committee considers that the stale of affair8 of the Society is satisfactory.
THE ABBEYFIELD FULWOOD SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMITTEE {Continued} FOR THE YEAR ENDED 31 AUGUST 2023 REVIEW OF THE YEAR Abbeyfield Fulwood (Howard House) continues lo provide support lo the residents in a comfortable and well-managed house. We have maintained good levels of occupancy over the year, but we have had sorne vacancies as well. The year brought one significant Slaff change, Mary Salterihwaite who had worked with us as relief housekeeper for many years retired. We were really sorry to lose her but wished her well in her retirement. We welcome lo our staff Lynd5ey Gregson who will be able to lake on some relief cover for us. Hanorah and Julie have made some changes to their work schedule with Julie taking on extra days and extra responsibilities. We are grateful to all our staff for their commitment, care and friendship. In this we include John (gardener} and Jane {Cleaner). Thanks to you all. The focus of all our work is the care and wellbeing of our residents. This year has again brought some Ghanges. We lost Betty, Kathleen and Ev this year and send our cOndolenS to each family. It has been pleasing lo hear from the families who all spoke so appreciatively about Howard House and the care it provides. We have welcomed new residents and wish them all well for their future al Abbeyfield Fulwood. In our procedures for care, we do try through the year to provide opportunllies for residents and families lo come together on social occasions. We regularly hold social evenings for the residents - chal, refreshments and games (dominoes). We also organise events for families and friends. This year we celebrated the Coronation with a garden party, bul have also had barbecue evenings, bingo and quiz nights- all well allended. Thank you lo the staff, committee and volunleers who work hard lo ensure the events are a Suss. Over the year we have made some changes to our property. The major project being the refurbishment of the small bedroom (ensuite) to a furnished "short-stay" room. We hope it will be a beneficial addition to our provision. We have also continued with the garden improvements in particular at the front of the property. The committee continue to work hard to support the house and residents. We hav@ welcomed Marian to our leam and hope she enjoys volunteering with us. We look forward to the future with Gonfidence, the property house and gardens are all kept in good order, provision for residents is excellent and we continue to receive goodlpositive reports from residents, family and sponsors. We do need to find ways lo allract new volunteers and committee. We depend on the committee and trustees leam and would welcome any support andlor suggestions to altra¢t new members. Some ofthe work we do as volunteers is time consuming, but It is always rewarding. RISK REVIEW The executive committee is continuing lo review major risks to which the society might be exposed and systems are in place lo mitigate such risks.
THE ABBEYFIELD FULWOOD SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMITTEE (Contlnued) FOR THE YEAR ENDED 31 AUGUST 2023 RESERVES POLICY The sociely holds sufficient reserves to cover any normal liabilities and the policy is lo keep such reserves at an adequate level STATEMENT OF THE EXECUTIVE COMMITTEE RESPONSIBILITIES The committee is responsible for preparing the report and financial statements in accordance with applicable law and regulations. The Co-operative and Community Benefit Societies Act 2014 and registered social housing legislation require the committee to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the association and of its income and expendilure for that period. In preparing these financial statements, the committee is required to.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any malerial departures disclosed and 8xplain8d in th8 financial statements., and prepare the financial statements on the going concern basis unless il Is inappropriate to presume that the association will conlinue in business. The committee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the as50Gialion and enable it to ensure that the financial statements comply with Co-operative and Community Benefit Societies Act 2014, the Housing and Regeneration Act 2008, the Accounting Direction for private registered providers of social housing in England 2012, Charities Act 2011 and Companies Act 2006. 11 has general responsibility for taking reasonable steps lo safeguard the assets of the association and to prevent and detect fraud and other irregularities. By Order of the Board Ms L Whitworth Mr B Walmsley
INDEPENDENT REPORTING ACCOUNTANTS REPORT TO THE BOARD OF THE ABBEYFIELD FULWOOD SOCIETY LIMITED Independent reportlng accountants, report to the members on the unaudlted accounts of The Abbeyfield Fulwood Society Limited We report on the accounts for the year ended 31 August 2023 set out on pages 610 13. Respectivè responsibllitles of the Board and rèpoitlng accountants The Board of the Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to ellable us to report our opinion. Basis of opinion Our procedures consisted of comparing the accounts with the accounting records kept by th8 Registered Social Housing Provider and making such enquiries of the offirS of the Registered Social Housing Provider as we considered eSsarY for the purpose of this report. These procedures provide Ihe only assurance expressed in our opinion. Opinion In our opinion: th8 accounts for year ended 31 August 2023 are in accordance with the accounting records kept by the Registered Social Housing Provider under paragraph 135121(a) of the Housing and Regeneration Act 2008., having regard only to, and on the basis of the information contained in the accounting records: the accounls comply with the requirements of the Charities Act 2011. the Registered Social Housing Provider has satisfied Ihe condilions for exemption from an audit of the accounts for the year ended 31 August 2020 specified in section 136{3) of the Housing and Regeneration Act 2008., the Regislered Social Housing Provider mat the financial criteria enabling it to disapply the requirement to have an audit of the accounts for the year specified in section 84 of the Co-operative and Communily Benefit Societies Acl 2014,. and the accounts comply with the requirements of the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2019. Stephen-fRobinson ACA Reporling Accountant 7-9 station Road Hesketh Bank Preston PR4 6SN Dated..
THE ABBEYFIELD FULWOOD SOCIETY LIMITED STATEMENT OF COMPREHENSIVE INCOME (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Turnover Less.. Operating Costs Operating SurplusllDeficit) Interest payable Interest receivable and slmilar income 139,302 109.521 1119,684) 1122,341} 19,618 {12,820} (6} 6,279 10,1S4 Surplusl(Deficit) for the year 11 29,772 16,5471 On behalf of the Execut¢ve Committee Ms L Whitworth Mr B Walmsley
THE ABBEYFIELD FULWOOD SOCIETY LIMITED BALANCE SHEET- Reg No 00765860 AS AT 31 AUGUST 2023 2023 2022 Notes Fixed Assels Housing properties - depreciated cost Other tangible fixed assets 108,596 2,819 112,727 3,317 111,415 116,044 Current assels Debtors and prepayments Cash at bank and in hand 2,775 498,193 500,968 2,352 492,974 495,326 Creditors: Amounts falling due within one year {4,801) (33,560) Net current assets 496,167 461,766 Totsl assets less current liabilities 607,582 577,810 Capital and reserves Revenue and reserves 607,852 577,810 For the year ending 31 August 2023 the company was entitled to exemption from audil under section 477 ofthe Companies Act 2006 relating lo small companies. These accounts have been prepared in accordance wilh the provisions applicable lo companies subject to small companies, regime. Directors, responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; .The directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect lo accounting records and the preparation of account8. These financial statements were approved by Ihe Executive Committee on On behalf of the Executive Committee Ms L Whitworth Mr B Walmsley The annexed notes form part of these financial state ents.
THE ABBEYFIELD FULWOOD SOGIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 PRINCIPAL ACCOUNTING POLICIES General informatlon and basis of preparation The RSHP is incorporated in England and Wales under the Companies Act 2006 and is registered with the Housing Corporation as a Registered Social Housing Provider IRSHP), The address of the registered office is given on page l of these financial statements. The RP constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with applicable accounting slandards including Financial Reporting Standard 102 The Finan¢ial Reporting Standard Applicable in th8 UK and R8public of Ireland {FRS 102), the Statement of Recommended Practice for Social Housing Providers 2014, and with the Accounting Direction for private registered providers of social housing in England 2015. The financial statements are also prepared under Ihe requirements of the Housing and Regeneration Act 2008 and the Companies Act 2006. The financial statements have been prepared on a going concern basis under Ihe historical cost convention. The finanoial statement5 are prepared in sterling, which is the functional currency of the RP, and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presenled unless othewise stated. Turnover Turnover represents rental income and s@rvice charges receivable net of rent and service harge losses from voids, revenue grants from local authorities and the Housing Corporation, and the disposal proceeds from Current asset property disposals. Fixed Assets and Depreciation Tangible fixed assets (including social housing properties} are slated al cost, less accurnulated depreciation and Social Housing Grant. Cost includes Costs directly atlribulable to making the asset capable of operating as intended such as the cost of acquiring land and buildings, development costs, interest charges on loans during the development period and expenditure on improvements. Expenditure on improvements will only be capitalised when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economic life of the property. Depreciation is provided on all tangible fixed assets charged over the expected economic useful lives of the assets at Ihe following annual rates.. Housing properties, houses Fixtures & fittings 20/0 Straight line 150/0 reducing balance Major components of housing properties, such as lifts and warden alarm systems, have been accounted for and depreGiat8d separately from the connected housing property. The useful economic lives of all tangible assets are reviewed annually.
THE ABBEYFIELD FULWOOD SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 PRINCIPAL ACCOUNTING POLICIES Icont'd) Provisions Provisions for cyclical maintenance or rnajor works to existing stock are not made unless they represent commitments or obligations at the Balance Sheet date where there is no discretion to avoid or delay the expendituro. Receipts in advance in respecl of agreements to carly out improvement works on properties on behalf of third parties are recognised in creditors unless it is appropriate to offset such balances with other balances relating to the same third parl in accordance with Financial Reporting Standard {FRSI 5.. Reporting Financial Performance. Houslng Properties Housing properties are principally available for rent and are stated at cost less any provision for impairment Irepresenling a diminution in the recoverable service potential of the asset below its carrying value in the balance sheet} less depreciation. Cost includes the cost of acquiring land and buildings, development costs, interest charges incurred during the development and expenditur8 incurred in respect of improvements. Works to Existing Houslng Properties ExpendilurB on existing housing properties is capilalised when it is eilher capable of generating increased future rents, extends their useful economic lives or significantly reduces future maintenance costs. All other expenditure in respect of general repairs lo the housing stock is charged to th8 income and expenditure accounts as it is incurred. Property Dlsposals Properties available for sale or transfer are included in current assets. The disposal proceeds from properties owned oulrighl are included in turnover and the surplus or deficit is accounled for in the income and expenditure account of the period in which the disposal occurs as the difference between the net sale prOed$ and the not carrying value.
THE ABBEYFIELD FULWOOD SOCIETY LIMITED 40. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 TURNOVER 2023 2022 Residential Char Rents receivable es 139,302 109,521 Net surplus from social housing aclivilies 139,302 109,521 Void Iosges Other Income Donations COIF interest Income from solar panels Rent receivable 3,841 1,400 394 1,385 4,5(KJ 6,179 10,154 OPERATING SURPLUSI DEFICIT Operating Surplusl Deficit is stated after charging.. 2023 2022 Depreciation and amortisalion of owned assets No emoluments have been paid to the directors during the year.
THE ABBEYFIELD FULWOOD SOCIETY LIMITED 11. NOTES TO THE DETAILED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 OPERATING COSTS 2023 2022 Employee costs Food and household costs Rates, insurance and licences Healing, light and cleaning Repairs and maintenance Office and sundry expenses Residenls Christmas party and outings Helpline costs Affiliation fees Auditors & accountancy Depreciation of property Depreciation of fixtures and fittings 48,114 26,985 9,062 6,356 14.648 2,986 47,800 23,885 8.203 8,479 20,232 2,230 1,685 2,902 2,317 4,131 498 1,761 2,934 2,100 4,131 586 119,684 122,341 EMPLOYEE INFORMATION 2023 2022 The average monthly number of employees, including part time employees The average number of persons employed during the year lexpre55ed Tn full time equivalents) was: offi staff Wardens, caretakers and cleaners 2023 2022 Staff costs (including members of the Board) Wages and salaries Social Security costs 48,114 47,800 48,q14 47,800
THE ABBEYFIELD FULWOOD SOCIETY LIMITED 12. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 TANGIBLE FIXED ASSETS Freehold Land and Buildings Fixtures and Fittings Total Cost: At 1 September 2022 Additions 196,237 71,461 267,698 At 31 August 2023 196,237 71,461 267,698 Depreciatlon: At 1 September 2022 Charge for year At 31 August 2023 83,510 4,131 87,641 68,144 498 151,654 4,629 156,283 68,642 Net Book Value: At 31 August 2023 At 31 August 2022 108,596 112,727 2,819 3,317 111,415 116,044 All fixed assets are used for direct charitable purposes. DEBTORS 2023 2022 Amounts falling due within one year: Other debtors 2,775 2,775 2,352 2,352
THE ABBEYFIELD FULWOOD SOCIETY LIMITED 13. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade credilors Taxation and soclal security payable Accruals and deferred income 1,319 3,482 4,801 984 32,576 33,560 The charity aims to pay purchase invoices within 30 days of receipt. RELATED PARTIES No related party transactions hav@ taken place during the year. 10 COMPANY STATUS The company is limited by guarantee and as such has no share capital. 11 UNRESTRICTED INCOME & EXPENDITURE RESERVE 2023 2022 Retained surplus brought forward at 1 September 2022 Retained surplusl(deficitl for the year Retained surplus carried forward at 31 August 2023 577,810 29,772 584.357 {6,5471 607,582 577,810 The company has no restrictions on the use of retained surplus. 12 UNITS Units at Start Units at End Social housing for older people - owned
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