Company registration number." 00772489 Charity registratson number.. 231852 The Abbeyfield Dulwich Society Limited {A ￿MpanY limited by guaranlee) Annual Report and Financ￿1 Statements for the Year Ended 30 September 2022 DSK Partners LLP Chartered Cerbfied Accountants & Statutory Auditor D S House 306 High Street Croydon Svrrey CRO 1NG The Abbeyfield Dulwich Society Limited Contents Reference and Adminislralive Details Trustees, Report 2106 Independent Auditors, Report 7t011 Statement of Financial Acts'vitses 12to13 Balance Sheet 14to15 Statement of Cash Flows 16 Notes lo the Financial Statements 17to29 Detsiled Stslement of Financial A¢livilies 30to32 The Abbeyfield Dulwich Society Limited Reference and Administrative Details Chairman P A A Bart)er Trustees ADGHill P A A Barber A J De Rohan G J P AbtKJtt Mrs J E Ross-MacdonahJ A Butler Charlty Reglstratlon Number 231852 Company Reglstration Number 00772489 The charity is incorporaled in UK. 91 Slradella Road London SE24 9HL Regl8ter8d Offlco Audltor DSK Partners LLP Chartered Certified Accountants & Statutory Auditor D S House 3C6 High st￿et Croydon Surrey CRO 1NG Page 1 The Abbeyfield Dulwich Society Limited Trustees. Report The Iruslees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitsble company for the year ended 30 September 2022. The Iruslees have adopted the provisions of Accounting and Reporting by Charib'es." Statement of Recommended Practice applicable lo charities preparing their aeeounls in aecordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191. Trustees and offlcers The trustees and officers serving during the year and since the year end were as follows.. Trustees.. AOGHill P A A Barber A J De Rohan GJPAbbott Mrs J E Ross-macdonald A Butler Chairman,. P A A Barber Since the Company qualifies as small under section 383 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Structure. governance and management Constltutlon The company is registered as a charilable company limrted by guarantee and was set up by a Memorandum and Articles of Association on 20 August 1963. The principal object of the company is the establishment and management of houses for the eldedy in accordance with the aims and principles of The Abbeyfield Sctiety Limited. Recruitment and appointment of trustees The management of the company Is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association. Induction and traiTning of trustees Beyond basic induction procedures. no foTrnal training is provided. However. the Chairrnan has extensive senior commercial experience and one of the Trustees IA Butler) is a King's Counsel. The Treasurer ran a successful business as a pharrnaci5t for many years. Page 2 The Abbeyfield Dulwich Society Limited Trustees. Report Org8nisational structur• The Executive Committee is resFKJnsible for the supervision of the company's acb"vib"e5. Because most members of the Executive Committee are also members of the House Committee, the Executive Committee only tends lo meet when there are policy decisions lo be made, governance issues to be addressed or accounts to be approved. Full minutes of the meebngs are Qrculated lo the Trustees who are all voluntary. The management of the House is the resFX)nsibility of the House Committee which meets every four weeks. The House nomially has ￿ housekeepers. one of whom 1$ on duty for four days and off duty for three days and the other of whom is on duty for three days and off duty for four days. The House is able to e811 on relief housekeepers if one of the main housekeepers is sick or on holiday. The housekeepers reF)Ort lo a salaried House Manager, Delia Nicholls. The House Manager post was created following the retirement of Fleur Read as Company Secretary. Ms Nicholls is the first incumbent, having been appointed in May 2020. She reports to the Trustees. Rlsk Managemènt Following the recommendations and in compliance with the core stsndards of the company's umbrella body, The Abbeyfield Society, volunteers cary out a health and safety risk assessment at the House each year and regularly review support plans for the residents, making reports to the House Committee. The Trustees have assessed the major risks lo which the company Is exposed. in particular those related to pastoral care of very frail Tesidenls and in the management of the House lo ensure that il is a safe environment and are satisfied that the systems and procedures are in place lo mi119ale exposure lo major risks. In assessing the major risks the Trustees have also taken into account the particular need for financial control and are satisfied that the procedures they have in place are sufficiently robust. Obje¢tlvo8 and a¢tlvitl Objects and alms The company is a Registered Social Landlord and ils principal activity is to provide accommodation and support for lonely and active eldedy persons in accordance with the aims and principles of The Abbeyfield Society Limited. In selling objectives and planning for activities, the Truslees have given due consideration to general guidance published by the Charity Commission relaling to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. The aim of the Executive Committee is to athieve full occupancy. NO￿lth5￿nding long periods when the House is fully occupied, applicant5 for places are still sought and successful applicants added to a waiting list. Where applI￿nIS are looking for extra care. which the company is unable lo provide, they are referred to extra care homes in the vicinty. During the year under review all the flats and the bedsil in the House were fully occupied and there is a wailing list of applicants who have expressed an interest in taking up oeeupation of a flat should a vacancy oeeur. Page 3 The Abbeyfield Dulwich Society Limited Trustees. Report Public Benefit Abbeyfield Du￿1Ch has had an eventfvjl 2022 to date and I have summarised the various items below. However. il is fair to note that the House is happy and stable at this time and that we continue lo provide a warm and caring community, ably supported by fvll and part lime staffing and a dedicated group of volunteers on the House Committee. Resldents All the residents appear lo be happy and are supported well by family. fn'ends and carers. A couple of residents are having memory andlor mobility challenges and Ihe House Committee. led by ADR and CG with support from LF. are contsnually engaged on reviewing the options for those residents and completing Care Plans. JRM has been busy creating and updating a wailing list for any llatlets which may become available. This has been an ongoing task with considerable liaison required. Health We had one case of Covid-19 over Christrna$ 2021 when one of our housekeepers tested positive. Considerable rallying around by membets of the House Committee meant that the enforced absence of the housekeeper was managed very well. Sadly, after several months of decline. Eileen Hayes died in April. This was a shock lo several of the residents who had become Close to her and was preceded by a difficult lime when ¢ommuni¢ation and management of the Supporting healthcare servi¢e$ from King's and Southwark look up a considerable amount of volunteer lime Housekeeper8 Judith Butler tendered her resignation lo us in January after a c￿nsIderable period of uncertainty in her personal life and in the House. She left us in April after an extended notse£ period which suited all pa￿'e$. The House Committee reviewed options for improving the shift pattem given JB'S resignation and consulted with Rowena Chapman. the remaining housekeeper. A new rolling four days on, four days off rola was decided upon which considerably improved RC'S remuneration whilst reducing her hours of work. However, RC was not amenable lo this change and wanted a more exclusive contract. The House Committee did not feel that this would be in the best interests of the operation of the House and this prompted RC lo resign. The House Committee were unanimous in accepting the resignation and were prepared to support catering and the House Manager in filling the tssks gap. Local and national advertising produced a number of candidates who were interviewed by Delia Nicholls, Andrew Fletcher and the Chair. As this pr￿sS progressed, agency staff were employed for several weeks to help lo provide cover al mealtimes. Although relatively expensive, this proved to be extremely useful in further defining the right personalities to fill our vacancies. The House Manager was very proactive in securing and managing the temporary cooks and also found a local carer who then slepped in lemporarily to work full time, replacing the temporary cooks at a more economical pay rate. Two Housekeeper candidates were selected and Pauline Whiffield and Karen Birchenough joined us in May and July respectively. Both HK'S live in at the top of 89 and 91 Slradella Road and have been advised that they are offered the accommodation to better perfomi their duties. Page 4 The Abbeyfield Dulwich Society Limited Trustees. Report Buildings Whilst the maintenance programme has being taking place as usual, DN and AF led a project to refurbish the HKS flats. Given the scale and extent of the expenditure, it was decided that funds could be released from the Reserves lo cary out the works. The results are very posib've and has helped in the reeruitment of the new HKS. There is 8 note in the Treasurerfs rewrt about the refurbishment. A new resident will move into Flat 5 in September and, to secure the flat, half rental payments for July and August were negobated with the incoming lady. This has helped to soften our void period losses. Finances RH'S report is being sent out separatety and will expand on the year lo date. Nevertheless. diligent planning for this year's costs and the use of investment income has helped us to manage the budget well. The House Committee receive the cost breakdown monthly and corrective action, if needed, is proposed and actioned after the HC meetings. 2022123 is already looking to be a challenge in respect of energy costs and we will be reviewing actions that could help us maintain a stsble budget. This may mean a considerable increase in resident rents and will need lo be the subject of extensive communication. Evgnts A summer party, a visit from Edmund de Waal, a Jubilee party, a visrt from a world champion bagpiper and an outing lo Du￿1Ch Picture Gallery took place amongst other smaller activities for the residents earlier this year. We would like lo expand this type of activity going forward. Houso Committ00 Thanks go to the HC for their generous and kind support of the Abbeyfield DuNvich. Thomas Raikes has stepped down from the Committee and leaves with our thanks. Katherine Morris has joined us and is helping with a wide range of ideas and plans. Page 5 The Abbeyfield Dulwich Society Limited Trustees. Report Statement of trustees. responslbTlitles The Iruslees (who are also the directors of The Abbeyfield D￿￿Ich Scciety Limited for the purposes of company lawl are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally AC￿pIed Accounting Praclicel, including FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees lo prepare financial statements for each financial year. Under company law the Iruslees musl not approve the finanual statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charitsble company and of the incoming resources and application of reSoU￿s, including ils income and expenditure, of the charitable company for that period. In preparing these financial slalements, the trustees are required lo". select suitsble accounting policies and apply them consistenuy.. observe the methods and principles in the Chanlies SORP., make judgements and esbmales that are ￿asonable and prudent., slate whether applicable accounting stsndards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the charitable company will continue in business. The Iruslees are responsible for keeping proper ac¢ounling records that can dixlose with reasonable accuracy al any time the financial position of Ihe ¢harilable Company and enable them to en$ure that the financial slalemenls comply with the Companies A¢1 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tsking ￿asonable steps lor the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and inlegnty of the corporate and financial infomialion included on the charitable company's website. Legislatson goveming the preparation and dissemination of financial statements may differ from legislatson in other jurisdictions. Disclosure of Infonnation to auditor Each trustee has taken steps that they ought to have taken as a Iruslee in order lo make themselves awa￿ of any relevant audit information and to estsblish that the charity's auditor is aware of that information. The trustees conffimi that there is no relevant infomialion that they know of and of which they know the auditor is unaware. 2710712023 The annual reF)Ort was approved by the trustees of the ¢harity on .................... and signed on its behalf by.. P A A Barber Chairman and Trustee A J De Rohan Trustee Page 6 The Abbeyfield Dulwich Society Limited Independent Auditor's Report to the Members of The Abbeyfield Dulwich Society Limited Oplnlon We have audited the financial statements of The Abbeyfield Duhvich Society Limited (the 'charity'l for the year ended 30 September 2022, which comprise the Statement of Financial Aclivilies, Balan￿ Sheet, Statement of Cash Flows, and Notes to the Financial Stalemenls, including a summary of significant accounting policies. The financial reporkn'ng framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Chanlies SORP FRS 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland. and applicable law {Uniled Kingdom Generally Accepted Accounting Practscel. This report is made solely to the charitable company's trustees, as a body, in a¢¢ordan¢e with Chapter 3 of Part 16 of the Companies Ael 2006. Our audit work has been undertaken so that we might slate lo the charity s trustees those matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do nol accepl or assume responsibility lo anyone other than the ¢harilable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion the financial statements.. give a true and fair view of the stale of the charity's affairs as at 30 September 2022 and of its incoming resources and application of resources, induding tts income and expenditure, for the year then ended., have been properly p￿pared in accordance wrth United Kingdom Generally A¢cepled A¢counling Pracli¢e', and have been prepared in accordance wrth the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audrt in accordance wrth Intemalional Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities lor the audit of the financial ststemenls section of our report. We are independent ol the charity in accordance with the ethical requirements that are relevant lo our audit of the fi'nancial stslemenls 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 to provide a basis for our opinion. Page 7 The Abbeyfield Dulwich Society Limited Independent Auditor's Report to the Members of The Abbeyfield Dulwich Society Limited Conclusions relating to going concern In auditing the financial slatemenls. we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial stslements is appropriate. Based on the work we have performed, we have not identified any material Un￿rtaIntieS relating to events or conditions that. individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least ￿e1ve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilitses of the trustees wrth respect to going concern are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the finan¢ial ststemenls and our auditor's report thereon. Our opinion on the finan¢ial statements does not cover Ihe olher infomation and, except to the exlenl olhemise expli¢illy slated in our report, we do not express any fomi of assurance ¢on¢lusion thereon. In connection with our audit of the financial slalemenls. our responsibility is lo read the other information and, in doing so, consider whether the other infomation is materially inconsislenl with the fi'nancial slalemenls or our knowledge obtained in the audit or otherwise appears to be materially misstsled. If we identify such material inconsistencies or apparent material misslalemenls, we are required lo determine whether there is a material misslalement in the financial statements or a material misslalemenl ol the other information. If, based on the work we have performed. we conclude that there is a material misstatement of this other infomialion, we are required to report that fact. We have nothing lo report in this regard. Opinlon on other matter prescribed by the Companlès Act 2006 In our opinion, based on the work undertaken In the course of Ihe audit.. the information given in the Trustees, Report for the financial year for which the financial statements are prepared is consislenl with the financial statements.. and the Trustees. Report has been prepared in accnrdance wrth applicable legal requirements. Matters on whSch we are requlred to report by excepllon In the light of our knowledge and understanding of the charity and ils environment obtsined in the Course of the audit, we have not identsfied material misststements in the Trustees. Report. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate 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 statements are not in agreement with the accounbng records and retums", or certain disclosures of ITuslees remuneratson S￿cl￿ed by law are nol made., or we have not received all the information and explanations we require for our audiL Page 8 The Abbeyfield Dulwich Society Limited Independent Auditor's Report to the Members of The Abbeyfield Dulwich Society Limited Responsibilities of trustees As explained more fully in the Stslement of Iruslees. responsibilities (set out on page 61, the trustees are responsible for the preparation of the financial stslements and for being satisfied that they give a true and fair view, and for such internal control as the trustees delemiine is necessary lo enable the preparation of financial slalemenls that are free from material misstatement. whether due lo fraud or error. In preparing the financial stslements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. a5 applicable. matters related lo going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternab.ve but to do 50. Audltor responslbilltles for the audSt of the flnanclal statements Our objectives are to obtain reasonable assurance about whelhei the financial statements as a whole are free from material misslatemenl. whether due lo fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurarbce. but is not a guarantee that an audit conducted in accordance with ISAS {UKI will a￿ayS detect a malenal misslatemenl when Il exists. Misslalemenls can anse from fraud or error and are considered matenal if, individually or in the aggregate. they could reasonably be expected to Influence the economic decisions of users taken on the basis ol these financial slalemenls. We design pro¢edure$ in line with our ￿SPonSIbl11t1e$. outlined above, to dele¢t material misslalemenls in respect of irregularities, including fraud. The key laws and regulations we have considered in this context included the Companies Act 2006, pension and tsx legislation. In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial slalements bul ¢omplian¢e with which may be fundamental lo the companls ability lo operate or lo avoid a material penalty. The exlenl lo which our procedures are capable of delectsng itregularilies, including fraud is detailed below.. Using our general comrnercial and sector experience and through discussions with the d1￿ctorS and management, we identified areas of laws and regulations that could reasonably be expected lo have a material effect on the financial statements as well as those arising from management's own assessment of the risks that irregularities may occur either as a result of fraud or error. We examined the company s regulatory and legal Corresponden￿ and discussed with the directors and management any known or suspected instances of fraud or non-compliance with laws and regulations. We communicated i¢Jenlified laws and regulalions and potential fraud risks lo all engagement team members and remained alert lo any indications of fraud or non-compliance with laws and regulations throughout the audit. In addressing the risk of management override of controls, we tested the appropriateness of journal entries. We also challenged assumptions and judgements made by management in their signifi'cant accounting estimates and judgements Page 9 The Abbeyfield Dulwich Society Limited Independent Auditor's Report to the Members of The Abbeyfield Dulwich Society Limited There are inherent limrtatTons in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the fi'nancial stalemenls, the less likely we would become aware of it. Also. the risk of not deleeb'ng a material misstatement due to fraud is higher than the risk of not deleeb'ng one from error, as fraud may involve deliberate concealment by, for example, forgery or intentsonal misrepresentslion, or through c£)Ilusion. A further description of our responsibilities is available on Ihe Financial Reporting Council's website al.. www.frc.org.ukJauditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAS IUKI. we exercise professional judgement and maintain professional scepticism throughout the audiL We also.. Identify and assess the risks of material misstslement of the financial statements, whether due lo fraud or error, design and perfomi audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misslalemenl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery, intentional omissions, misrepresentslions, or the override of internal control. Obtain an understanding of inlemal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the twstees. Conclude on the appropriateness of the trustees use of the going cOn￿M basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubl on the chanty's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit eviden￿ obtsined up to the date of our auditor's report. However. future events or conditsons may cause the charity to cease lo conts'nue as a going concern. Evaluate the overall presentslion, structure and content of the financial stalemenls, including the disclosures, and whether the financial statements represent the undedying transactions and events in a manner that achieves fair presentation. Obtain sufficient appropriate audrt evidence regarding the financial infomation of the entities or business activities within the Charity to express an opinion on the financial statements. We are responsible for the direcbon, supervision and perfomanee of the charity audit. We remain solely responsible for our audit opinion. We communicate with those charged with govemance regarding, among Other matters, the planned scope and liming of the audit and significant audil findings. including any significant deficiencies in internal control that we identify during our audit. Page 10 The Abbeyfield Dulwich Society Limited Independent Auditor's Report to the Members of The Abbeyfield Dulwich Society Limited Use of our report This report is made solely lo the charitable company's trustees, 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 lo the charity's trustees those matters we are required to stsle lo them in an auditor's report and for no other purpose. To the fullest extent pemitted by law, we do nol accept or assume responsibility lo anyone other than the charitable company and its tnjstees as a body, for our audit work, for this report, or for the opinions we have formed. Romil Basu FCA (Senior Statutory Auditor) For and on behalf of DSK Partners LLP Chartered Accountants and Statutory Audilors D S House 30S High Street Croydon Surrey CRO 1NG Date.. 2710712023 Page 11 The Abbeyfield Dulwich Society Limited Statement of Financial Activities for the Year Ended 30 September 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Reslrictod funds Total 2022 Note Income and Endowrnents from: Charitable activities Investment income Other income 141.276 141,276 27,850 201 27,850 201 Total income 141.477 27,850 169,327 Expenditure on: Raising funds Charitable activities {138,1911 8.576 1138,1911 8.576 Total expenditure 146,767 146,767 Net lexpendilurellin¢ome Othèr re¢ognl88d galns and 10$808 Gainsllosses on revaluation of fixed assets 15.290} 27,850 22,560 129,284 129,284 Net movement in funds {134,5741 27,850 1106,7241 Reconclllatlon of funds Total funds brought forward Total funds carried forward 1.489.075 314.007 1,803,082 16 1,354,501 341,857 1,696,358 Unrestrlcted funds Restrlcted funds Total 2021 Nole Income and Endowrnents from: Charitable activities Investment income Other income 114.314 114,314 25,024 22,091 25,024 22,091 Total income 136,405 25,024 161,429 Expendlture on: Raising funds Charitable activities (119,9171 6.920 1119,9171 6,920 Total expenditure 126,837 126,837 The notes on pages 17 10 29 fonn an integral part of these financial statements. Page 12 The Abbeyfield Dulwich Society Limited Statement of Financial Activities for the Year Ended 30 September 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Reslrictod funds Total 2021 Note Net income 9.568 25,024 34.592 other recognised gains and losses Gainsllosses on revaluation of fixed assets 165.650 165.650 Net movement in funds 175.218 25,024 200,242 Reconclliation of lunds Total funds brought forward Total funds carried forward 1.313,857 288,983 1,602,840 16 1,489,075 314,007 1,803,082 All of the charity's acb'vities derive from Continuing operations during the al)ove periods. The funds breakdown for 2021 is shown in note 16. The notes on pages 17 10 29 fonn an integral part of these financial statements. Page 13 The Abbeyfield Dulwich Society Limited (Registration number: 00772489) Balance Sheet as at 30 September 2022 2022 2021 Note Flxed assets Tangible assets Investments 11 12 37,248 1,410.793 25,655 1,540,077 1,448,041 1,565,732 Current assets Debtors Cash at bank and in hand 13 14 4,275 274,821 6,400 247,591 279,096 253,991 Cr8dltor8: Amounts falllng due wlthln one year 15 30.779 16,641 Not curront assets 248,317 237,350 Net assets 1,696,358 1,803,082 Funds ofthe charlty". Restricted Income funds Restricted funds 341,857 314,007 Unr•strlcted In¢omo funds Unreslricled funds 1,354.501 1,489,07S Total funds 16 1,696,358 1,803,082 The trustees a¢knowledge their responsibilities for lal ensuring that the charitable company keeps a¢￿￿ntIng records that comply with Se¢lion$ 386 and 387 of the Companies Act 2006 and Ibl preparing financial slalernents which give a true and fair view of the stale of affairs of the charitable company as al the end of each financial year and of ils surplus or deficit for each finanaal year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable lo the charitable company. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 17 10 29 fonn an integral part of these financial statements. Page 14 The Abbeyfield Dulwich Society Limited (Registration number: 00772489) Balance Sheet as at 30 September 2022 The financial statements on pages 12 to 29 were approved by the Injstees, and aulhorised for issue on 2710712023 and signed on their behalf by.. P A A Barber Chairman and Trustee A J De Rohan Trustee The notes on pages 17 10 29 fonn an integral part of these financial statements. Page 15 The Abbeyfield Dulwich Society Limited ststement of Cash Flows for the Year Ended 30 September 2022 2022 2021 Note Cash flows from operatlng actlvltles Nel cash lexpenditurellincome {106,7241 200,242 Adlustments to cash flows from nOn￿4$h ttems Depreciation Investment income Revaluation of investments 6,367 {27.850) 129.284 6,688 125.0241 165,650 1,077 16.256 Worklng capltal adlustrnents De¢rea$e in debtors Increase in creditors 13 15 2,125 14,138 724 8,709 Nel cash flows from operating activities Cash flows from Invostlng •¢tlvlties Interest receivable and similar income Purchase of tangible fixed assets Net cash flows from investsng activities Net increase in cash and cash equivalents 17,340 25,689 27,850 17.960 25,024 5.685 11 9,890 19,339 27,230 45,028 Cash and cash equivalents at 1 October Cash and cash equivalents at 30 Septembèr 247.591 202.￿3 274,821 247,591 Reconclllatlon of net cash flow to movement In nèt fund8 Increase in cash 27,230 45,028 Net funds at 1 October 2021 247.591 202.￿3 Net funds at 30 September 2022 274,821 247,591 All of the cash flows are derived from continuing operations during the above periods. The notes on pages 17 10 29 fonn an integral part of these financial statements. Page 16 The Abbeyfield Dulwich Society Limited Notes to the Financial Statements for the Year Ended 30 September 2022 1 Charlty status The charity Is limited by guarantee, incorporated in UK. and consequenuy does not have share capital. Each of the trustees is liable lo contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidab'on. The address of ils registered Offi￿ is". 91 Slradella Road London SE24 gHL The company's principle activity is the establishment and management of houses for the elderly. 2 A¢¢ountlng pollclos Sumrnary of slgnlflcant accountlng policles and key accountlng estlmates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consiSten￿Y applied to all the years presented, unless otherwise slated. Statement of compllance The financial statements have been prepared in a¢¢ordance with Accounting and Reporting by Charities., Statement of Recommended Pra¢lice (applicable lo charities preparing their a¢¢ounls in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 10211 (issued in October 20191- (Charities SORP IFRS 10211, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies kl 2006. Basls of preparatlon The Abbeyfield Dulwi¢h Society Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initially recognised at hisloncal cost or transaction value unless otherwise staled in the relevant accounbng policy notes. Currency The financial statements are prepared in steding which is also the functional currency of the company and rounded lo the nearest pound. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Page 17 The Abbeyfield Dulwich Society Limited Notes to the Financial Statements for the Year Ended 30 September 2022 Ineome and endowments Expenditure All expenditure is reeognised once there is a legal or constructive obligation lo that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to that ealegory. Where eosts Cannot be direelly attributed lo parb'cular headings they have been allocated on a basis consislenl with the use of resources, with central staff costs allocated on the basis of lime spent, and depreciation charges allocated on the porb'on of the asset's use. Other support costs are allocated based on the spread of staff costs. Ralslng funds These are costs incurred in attracting voluntary income. the management of investments and those incurred in trading activities that raise funds. Governance costs These include the costs attributable to the Charity's compliance with constitutional and statutory requirements, including audit, strategic management and Iruslees meetings and reimbursed expenses. Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charitable Company for UK corporation lax purposes. A¢cordingly. the charity 1$ potentially exempt from taxation in respect of income or capital gains re￿iVed within categories covered by Chapter 3 Part 11 of the Corporab'on Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to ¢harilable purposes. Tanglble Ilxed assets Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent a¢¢umulaled depre¢iatson and subsequent a¢¢umulated impaimienl losses. Depreelatlon and amortlsatlon Depreciation is provided on tsngible fixed assets so as to write off the cost or valuabon, less any eslimaled residual value, over their expected useful economic life as follows.. Asset class Freehold Property Short lem Leasehold Property Fixtures and Fithngs Depreciation mgthod and ro19 Over 30 Years Over periods of leases 25% Reducing Balan Page 18 The Abbeyfield Dulwich Society Limited Notes to the Financial Statements for the Year Ended 30 September 2022 Impalrment of flxed assets A review for impairment of a fixed asset is carried out rf evenls or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls be￿een the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Slalemenl of Financial Aclivilies. Fixed asset investments Fixed asset inveslmenls, olhef than programme related investments, are included at market value al the balance sheet dale. Realised gains and losses on investments are calculated as the difference be￿een sales proceeds and their market value at the stsrt of the year. or their subsequent cost, and are charged or credited to the Stslemenl of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Actsvities based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised inilialty at the transaction price. They are subsequently measured al amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original temis of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible lo a known amount of cash and are subject lo an insignificant risk of change in value. Trade credltors Trade creditors are obligatsons to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilib'es if the charity does not have an unconditional right, al the end of the reF)Orting period, to defer settlement of the creditor for al least twelve months after the repoth'ng date. If there is an unconditional right to defer settlement for al least ￿e1ve months after the reporting date, they are presented as non•current liabilities. Trade creditors are recognised initially at the transaction pnce and subsequenuy measured al amortised cost using the effectsve Inte￿51 methcrfj. Page 19 The Abbeyfield Dulwich Society Limited Notes to the Financial Statements for the Year Ended 30 September 2022 Borrowlngs Inlerest-bearing borrowings are initially recorded al fair value, nel of transaction costs. Interesl-bearing borrowings are subsequently carried al amortised cost, with the difference betsveen the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in Interest payable and similar charges. Borrowings are classified as current liabilits.es unless the chanty has an unconditional right lo defer settlement of the liability for at least fv￿1ve months after the reports.ng dale. Forelgn èxchange Transactions in foreign currencies are recorded al the rate of exchange al the date of the Iransaclion. Monetary assets and liabilities denominated In foreign currencies al the balance sheet date are reported al the rates of exchange prevailing at that date. The results of overseas operations are translated al the average rates of exchange during the period and their balance sheets al the rates ruling at the balance sheet dale. Exchange differences arising on translation of the opening nel assets and results of overseas operations are reported in other comprehensive income and accumulated in equity (attributed lo non