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|Reference and administrative|Reference and administrative|details||
|---|---|---|---|
|Chairman's
Report||||
|Trustees Report|||3to 8|
|Statement ofBoard s|Responsibilities|||
|Independent
Auditors'|Report||10to 13|
|Statement ofComprehensive||Income|14|
|Balance Sheet|||15|
|Statement ofChanges|in Reserves||16|
|Statement ofCash Flows|||17|
|Notes to the Financial|Statements||18to 32|
|||||Abbeyfield|%'essex Society Limited||
|---|---|---|---|---|---|---|
|||||Reference and Administrative
Details|||
|Status|||||Company
limited by guarantee||
|Trustees|||||Mrs BJBiddle, Chairman||
||||||Mr SArundel||
||||||Mr KA M Millman||
||||||Mrs A H Turner||
||||||DrCJ H Williams||
||||||Mrs KJ Leishman||
|Secretary|||||Mr KMitchell (resigned January 2020)||
|Senior Management||Team|||Mrs V Booker-Card, Chief|Executive Officer|
|Principal|ONce||||Westbourne
House||
||||||22 Poole Road, Bournemouth||
||||||Dorset, BH4 9DS||
|Registered|ONce||||Same as principal office address||
||||||The charity is incorporated|in England|
|Company|Registration||Number||00754594||
|Charity Registration|||Number||230902||
|Homes and Communities||||Agency Number|H2136||
|Bankers|||||Lloyds Bank PLC||
||||||84 Victoria Road, Femdown||
||||||Dorset, BH22 9JB||
|Solicitors|||||Humpshires
Kirk LLP||
||||||Trevanion
House, 15Church Road, Parkstone||
||||||Poole, Dorset, BH14 SUF||
|Broker|||||Charles Stanley k Co Limited||
||||||2 Westover Road||
||||||Bournemouth||
||||||BH12BY||
|Auditor|||||Westlake Clark Audit LLP||
||||||Chartered
Accountants||
||||||7 Lynwood Court||
||||||Priestiands
Place||
||||||Lymington||
||||||Hampshire||
||||||SO41 9GA||
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|The Society are required to report on the following|The Society are required to report on the following|The Society are required to report on the following|The Society are required to report on the following|seven performance|seven performance|metrics as follows:|||
|---|---|---|---|---|---|---|---|---|
|Metric|||Metric||||2020|2019|
|No.|||||||||
||Reinvestment
'Yo||||||0.5|7.1|
|2|New supply deliveed|'Yo|||||||
||New supply delivered|(Social housing)||(%)|||0.0|5.3|
||New supply delivered|(Non-social|housing)||('/o)||0.0|0.0|
|3|Gearing (%)||||||2.3|2.3|
|4|EBITDA (/o)||||||100.0|100.0|
|5|Headline
social cost per unit (Ek)||||||173.6|185.1|
|6|Operatin
Margin- Overall (%)||||||5.9|8.5|
||Return on capital employed (%)||||||(0.8)|(0.5)|
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||||||Year ended|Year ended|
|---|---|---|---|---|---|---|
||||||30September|30September|
||||||2020|2019|
|||||Note|||
|Turnover|||||1,290,991|1,416,069|
|Cost ofsales|||||1,215,392|1,295,762|
|Gross surplus|||||75,599|120,307|
|Administrative|expenditure||||(212,637)|(200,416)|
|Other income|||||555|2 659|
|Operating
(deficit)/||surplus|||(136,483)|(77,450)|
|Investment
income|||||45,519|82,560|
|Profit on disposal of||fixed assets||||532,290|
|Donations
and|legacies||||461,651|30,345|
|Surplus
on ordinary||activities for the year|||370,687|567,745|
|Gains/(losses)|on fixed||asset investments|13|12,154|6,450|
|Total comprehensive|||income for the year||358,533|574,194|
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|||||||2020||2019|
|---|---|---|---|---|---|---|---|---|
||||||Note|g|||
|Fixed assets|||||||||
|Tangible fixed assets||-|Housing||11|11,426,951||11,454,518|
|Tangible fixed assets||—Other|||12|235 874||144,173|
||||||||11,662,825|11,598,691|
|Investments|||||13||298 086|314,004|
||||||||11,960,911|11,912,695|
|Current assets|||||||||
|Debtors|||||14|477,886||46,867|
|Cash at bank|and in hand|||||4237 026||4,308,354|
|||||||4,714,912||4,355,221|
|Creditors: Amounts
one year||falling due within|||16|~397,945||348 571|
|Net current|assets||||||4316.967|4,006 650|
|Total assets|less current|||liabilities|||16,277,878|15,919,345|
|Provision for liabilities|||||19||17 100|17 100|
|Net assets|||||||16260 778|15,902245|
|Capital and|reserves||||||||
|Revaluation|reserve||||||5,590,289|5,590,289|
|Investment
revaluation|||reserve||||111,008|123,162|
|Income and|expenditure|||reserve|||10559481|10 188794|
||||||||16260 778|15902,245|
##
|||Income and|Investment|Housing||
|---|---|---|---|---|---|
|||exp'enditure|revaluation|revaluation||
|||reserve|reserve|reserve|Total|
||||||g|
|Balance at IOctober|201$|9,591,050|116,712|5,620,289|15,328,051|
|Total comprehensive|income|||||
|for tbe year||567,744|6,450||574,194|
|Transfer on disposal|of|||||
|property||30000||30000||
|Balance at30September 2019||10,188,794|123,162|5,590,289|15,902,245|
|Total comprehensive|income|||||
|for the year||370,687|(12,154)||358,533|
|Transfer on disposal|of|||||
|property||||||
|Balance at50September 2020||10559,401|111,008|5,590,289|16260778|
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|Statement||o|fCas|h F|l|ows for the Y|ear Ended 30|September 20|September 20|20|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2020||2019|
||||||||Note|g|||
|Cash flows from operating|activities||||||||||
|Net cash income|||||||||358,533|574,194|
|Adjustments|||||||||||
|Depreciation|||||||11,12||152,715|119,868|
|Interest receivable shown in|investing|||activities|||4||(24,781)|(54,968)|
|Other investment
income shown|||in investing|||activities|4||||
|Income from dividends
shown||in investing|||activities||4||(7,291)|(10,190)|
|(Gains)/losses
on investmcnts|||||||13||12,154|(6,450)|
|(Proflit)/loss
on disposal offixed|||assets||||6|||532290|
||||||||||491,330|103,065|
|Working capital adjustments|||||||||||
|(Increase)/ Decrease in debtors|||||||14|(431,019)||38,637|
|Increase/ (Decrease) in creditors|||||||16||49375|13882|
|Net cash flows &om operating||activities|||||||109686|127819|
|Cash flows from investing
activities|||||||||||
|Interest receivable and similar||income|||||4||24,781|54,968|
|Purchase oftangible flxed assets|||||||ll, 12|(216,850)||(988,283)|
|Saleoftangible fixed assets||||||||||691,444|
|Purchase ofinvestments|||||||13||(73;653)|(81,501)|
|Sale ofinvestments|||||||13||77,417|81,879|
|Other investment
income|||||||4||||
|Income from dividends|||||||4||7291|10190|
|Net cash flows Aom investing||activities||||||181014||249 647|
|Net increase in cash and cash|equivalents||||||||(71,328)|(121,828)|
|Cash and cash equivalents
at|I|October||||||4|308354|4430 182|
|Cash and cash equivalents
at|30September|||||||4|237026|4308354|
|Cash and cash equivalents
consist of:|||||||||||
|Cash at bank and in hand||||||||2,731,224||2,805,827|
|Short term deposits||||||||1 505 802||~l 5 2 527|
|||||||||~42 7
2||kg~3|
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|Land|Not depreciated|
|---|---|
|Structure|I'/0|
|Roof|2'/0|
|Windows/doors|3.33'/0|
|Kitchens|3.33'/0|
|Bathrooms|3.33'/0|
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|2
Turnover, c|ost|ofsales, administ|rative
expenditure
a|nd operating
surplus/(deficit)||
|---|---|---|---|---|---|
|||||Total|Total|
|||||2020|2019|
||||||g|
|Turnover
from|social housing lettings|||||
|Residential
charges||receivable||1,548,160|1,646,645|
|Voids||||~257,169)|~230,576)|
|||||1,290,991|1,416,069|
|Cost ofsales||||||
|Staffcosts||||505,302|601,281|
|Property costs||||336,482|340,221|
|Food costs||||99,300|103,812|
|Telephone
and television costs||||16,651|13,986|
|Careline||||16,369|15,441|
|Legal and professional||||63,744|78,330|
|Travel costs||||10,594|6,218|
|Sundry expenses||||14,235|16,605|
|Depreciation||||152,715|119,868|
|||||1,215,392|1,295,762|
|Gross surplus||||75,599|120,307|
|Administrative|expenditure|||||
|Staffcosts||||159,864|148,405|
|Head oRice property costs||||3,448|6,754|
|Postage, stationery||and advertising||13,147|6,811|
|Governance costs||||8,555|8,789|
|Telephone costs||||5,357|4,133|
|Legal and professional||||16,315|16,831|
|Finance costs||||1,603|1,548|
|Sundry||||4,348|7,145|
|||||{212,637)|(200,416)|
|Other income||||||
|Sundry income||||555|2,659|
|Operating
deficit||on social housing|lettings|(136,483)|(77,450)|
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|3 Income|from|donations
and legacies||||
|---|---|---|---|---|---|
||||Unrestricted|||
||||funds|||
|||||Total|Total|
||||General|2020|2019|
|Donations|and legacies;|||||
|Appeals||and donations|461,651|461,651|30,345|
||||461,651|461,651|30,345|
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|||||Unrestricted|||
|---|---|---|---|---|---|---|
|||||funds|||
||||||Total|Total|
|||||General|2020|2019|
|Income|from dividends;||||||
||Dividends|receivable from other listed investments||7,291|7,291|10,190|
|Interest|receivable|and similar income;|||||
||Interest receivable||on bank deposits|24,781|24,781|54,968|
|Income|from rents|||13,447|13,447|17,402|
|||||45,519|45,519|82,560|
|||||Unrestricted|||
|---|---|---|---|---|---|---|
|||||funds|||
||||||Total|Total|
|||||General|2020|2019|
|Audit|fees||||||
|Audit|ofthe financial||statements|5,910|5,910|6,720|
|Other|fees paid to|auditors||402|402|300|
|Other|governance|costs||2,243|2,243|1,769|
|||||8,555|8,555|8,789|
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|Net incoming resources for t|he year include:||||
|---|---|---|---|---|
||||2020f|2019|
|Operating
leases - other assets|||||
|Loss/ (Profit) on disposal of|fixed assets held for the charity's|own use||(532,290)|
|Depreciation offixed assets|||152,715|119,868|
|7
Trustees remuneration|and expenses||||
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|The aggregate
payroll costs were as follows:|||
|---|---|---|
||2020|2019|
|Wages and salaries|598,168|630,656|
|Social security costs|37,155|38,815|
|Pension costs|12,483|10,046|
||647,806|679,517|
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|I.
Twgglk lhed os|secs- Housing|secs- Housing|secs- Housing|secs- Housing||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Harlaton
Moretons,
House
(ferndown)
(Wlaborne)||||Green Lane
Hase
(fordlngbrldge)|pennanc
Hase
(Pools)||Mill
Westbw roe
Lane
Hona
(R™~)(a ~oath)
0||||(W, l~„) (D||h~
0|)|Total||
|At I Ocsobcr 2019|3$3,76$||IPI2,743||640009|1,I40000||I+I7P5||4~35'||6003so||$17332||Il,sdcgsl||
|||||36,I15||||||||l,l39||l9,I21,|||57,44l|
|Oispossh||||||||||||||||||
|At 30Scptcaba 2020|3537N||I|9l0|6409|2|140|I|7|||602|l39|$36d59||I I 912 22||
|Oeprocisdon||||||||||||||||||
|At I October 20I9|l3.96$||||25/ I2||$1,067||Scoot||l6$,774|||||4IOPl2||
|Charge fortbc year|2,796|||I4,672|S,IOO||l6 el 2||I I3$$||||71|63$|||$5,009|
|Egmiaascd oa ()hposah||||||||||||||||||
|At 30Cptcabcr 2020|ld 764||||30 l2||||||||7I|6||495 11||
|lect boob valses||||||||||||||||||
|At 30September 2020|37||I||I$7|2|272I|I|I 403|~|I~I 441|602||$2||Ilc|9|
|||||||||I|111st|~||||I7|2|11~||
||||||||27|||||||||||
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||Fixtures,|fittings||
|---|---|---|---|
||and equipment||Total|
||g|||
|Cost||||
|At 1October 2019||687,678|687,678|
|Additions||159,407|159407|
|At 30September 2020||847 085|847085|
|Depreciation||||
|At I October 2019||543,505|543,505|
|Charge for the year||67706|67706|
|At 30September 2020||611211|611211|
|Net book value||||
|At 30September 2020||235,874|235,874|
|At 30September 2019||144,173|144 173|
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|||||||||||2020f|2020f|2020f||2019
f|2019
f|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Other investments||||||||||||298086|||314004|||
|Other investments||||||||||||||||||
|||||||||||Cash||held in||||||
||||||||||Listed|investment||||||||
|||||||||investments|||portfolio
f|||Totalf||||
|Market value||||||||||||||||||
|At I October 2019|||||||||308,747||||5,257||314,004|||
|Revaluation|||||||||(12,154)|||||(12,154)||||
|Additions|||||||||65,452||||8QOI||73,653|||
|Disposals|||||||||77417||||||77|41||
|At 30September 2020|||||||||284 628||||13458||298086|||
|Netbook value||||||||||||||||||
|At 30September 2020|||||||||284,628||||13,458||298086|||
|At 30September 2019|||||||||308747||||5257||314,004|||
|Thc following
investments||were|deemed to be|||material||in relation to thc total investmcnt|||portfolio as at 30|||||||
|September 2020:||||||||||||||||||
|Fund name||||||||Holding|Market|||Value||Total Holding|||at|
||||||||||per|unit||at|year|Market|Value|||
||||||||||end (f)|||||(f)||||
|United Kingdom(Govemmentof)|||Idx/Lkd Snr|||Bds|||641%|||||||18,254||
|260I/2035 Gb 1000'Re s'||||||||||||||||||
|Liontrust
Fund Partners|LI|S ecial Situations||||Inc lnstit|||5.04%||||4.10|||14352||
|TBail
Fund Services|Ltd|Tb Evenlode income CDis|||||||5.01%||||2.19|||14,258||
|Findla
Park Funds Plc|American|||Gb|Hed|Dis|||5.11%||||72.71|||14542||
|Fil Investment
Services(Uk)Limited||||Global Dividend|||W lnc||5.48%||||1.95|||15,608||
|Hav||||||||||||||||||
|Rathbone
Unit Trust Management||||Global Opportunities|||||6.85%a|||||||19,491||
|Instl Acc||||||||||||||||||
|Ninety
One Fund Managers||Uk Ltd Diversified||||income||I2|5.17%||||0.98|||14,717||
|Inc Gb||||||||||||||||||
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|14 Debtors|||||
|---|---|---|---|---|
||||2020f|2019
f|
|Prepayments|||21,106|25,264|
|Other debtors|||456 780|21 603|
||||477 886|46 867|
|15 Accommodation|owned||||
|Supported
housing|and housing for older people:||||
||||End of2020
End of2019||
|Houses|||7|7|
|Bed spaces|||94|94|
|A total of8 houses|are owned (2019:8).||||
|At the year-end, 7were||available for bedspaces (2019:7).|||
|16Creditors: amounts||falling due within one year|||
||||2020f|2019|
|Other taxation and|social security||6,152|13,739|
|Other creditors|||380,495|314,249|
|Accruals|||11298|20582|
||||397945|348571|
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||2020f|2019|
|---|---|---|
|Land and buildings|||
|Within one year|18,500|18,500|
|Between one and five years|32,375|50,875|
||50875|69375|
|Other|||
|Within one year|2,815|4,222|
|Between one and five years||2 815|
||2815|7,037|
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|19 Provisions|||
|---|---|---|
|||Other|
|||provision|
|As at 1 October|2019|(17,100)|
|Other provision|movement||
|As at 30September 2020||(17,100)|
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