Company regbtratlon number 00784499 (England and Wales) THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED COMPANY INFORMATION Directrlrn Mr N J Farmer {Chairfflanl Ms L Hilchcox Ms S Laech Ms K Pike MrA Burgess MrAHughes IAppoSnled 1 July 2025) Company number 00784499 Charity numbwr 2269 Registored offKe Lear House 17 DaTmonds Green Wesl Kirby Wwral CH48 SDT Audttor Lonsdale & Marsh 509- 510 Cotton Exchange Blxlgth Slre&l Liverpool L3 9LQ
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED CONTENTS Pag• Report ofthe execLrtwe committee Independènt auditors report statement of income and retained earnings Balance sheet Nots8 to the fin8nual statements 10-17
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMirrEE FOR THE YEAR ENDED 31 MARCH 2025 The Executive Committee, the members of which atE al80 directors for the purposes of company law. submits ils 61st annLJal r8port together wfiih the audited financial statements forlhe year ended 31 March 2025. OblectlveB and actlvltlos for publlc benefit The piincipal actNity of th8 Society, 8$ delemined by ils memorandutll of association, is to provide a0Mm0daI1on. care and comp8nionship for lonely frail elderly people in accordan with the aims and principles of Abbeyfield England. There has been no change in the activities of the Society during the y8ar. The Executive Commitlee refer to the Charity Commission'8 general guidance on public benefit when reviewing the Society's aims and objectives and in plannlng future aclivilies. In particular the Committee consider planned activities will contribute to the aitns and objectives they have set and how these will benefit the recipients in accordan with the aims and principleB of the Society. Status The Society is a oompany limited by guarantee (nurnber 7844991. having no share capital, and with solely charttable obiectivg5 and is registered a5 a chadly {numb@r 2332691. It Is reglstered with Homes England (formerly tho Homes and Comwnunilies Agency) a8 a registered provider of 80cAal hou8ing Inumb6r H28541. The Sooety Ss governed by a Mefflorandurn and Artidos of Association and w88 incorporaled on 13th December 1963. Oryanlsatlon The ArtS¢les of Association govern the appointment of th8 8X8CUtivé committee, which is charged wrfh the management of the soety in furtheran¢e of its princip81 aclivrty, fund managernenl and financial affairs gen&rally, The executive comrnittee shall consist of not less than thre8 and not more than twenty six members. The executive committee has th8 POW8r to appoint exeeullve e4)mmTttee members lo fill a casual vacancy. One third of the executive wrntniitee mernbe must retire by rotation @ach year but arg aligible for re-election. There 3r@ sub- commlttees relating to Operations and Finance and at least onè mambar of the executive committee 18 a member of each SU¢0mMIttee. Sub-committees rert to Ihe execulnfe committee where decisions are made The Soa?ly is a momber of Abbeyfieid England to which it pays an annual affiliation fee. Executive commltte The members who held officè during the year and up to the dale of signature of the financial stalemenls were as follows.. Mr N J Farmer IChaSmianl Ms LHitchcox Ms S Leech MT A Yarwood Ms K Pike MrA 8urgess MrA Hughes (Resigned 18 August 2025) (Appointed 1 Juty 2025) In accordance with the Society's Article5 of Association Mr A Burgess and Ms K Pike retire by rotation and Mr A Hughes in his capacity as a n@w membor. All membèrs, being eligible, oflèr themselves for re*lection al thè forthcoming annual general meetlng,
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMirrEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Rgvlow of actlvltles and achlevernents during tho year Lear Hous8 continues to be very popular with occupancy levèls of around 95%. Respite care has become much sought after and CDntinues lo provide a steady source of additional income whilst also giving potential residents the opportunity to experience living here before committing themselves to permanent residence. Many Spite cuslorners do go on to become welcomed residents al Lear House, enjoying the wami atsnosph8r8 and the many and varied activities provided by Helen, our v8ry popular Actiwlies Coordinator. A look al our Facebook pagg will show the rang8 of acllvllles enjoyed by residents. Thè dir8ciors 8re. onca again, extremely grateful to all our staff for ¢rè8ting a caring and fri8ndly home which is o)mmenled on regularly by relatives and resldenls alike. In April 2025, the Society was inspected by the Care Qualty Cofflmission ICQCI. The full report has now been received with an overall rating of "requires improvement In addition, the Society has received a fomial w8ming from CQC for breach of rtsgulalion 17, good governance. The directors were very surprised and disappointed to receive this, having had the positive re5uII of an infection control InSet10n by CQC in 2022. 11 should also be noted that in the currént inspection report th8 Society was rated as °good" in both the caring and respDnsiven¢ss domains. The last full CQC inspection was conduoted in 2019. The directors are comrnitted lo making th8 n@cessary improvements and have immediately put in place an action plan lo ensure that areas of concem are fully addie55ed, A subgroup of the diredors will closely monitor the Progress of IhS8 action plan, assisted by an eXperiend consultant who has been retained to provide expert guidance. Following the outcomè ol the CQC inspection. the care manager has resigT)ed, and an Snlerim care m8n2ger is currandy in place whilst a recruitment pr0¢e8s 18 ongoing for a full-time r8plac8m8nt. Th8 plan to link Lear House and Elliot House continues lo progress with full costs now established and planning pemiission achievgd. Nogolialions with a lender continue and have resulted in a provisional offer being rnade. However, the offer of funding 15 Significantly mora oxpensive than had originally been anticipated and for this reason and in view of the outstanding issues wtth CQC the directors have decided to pause any further action to allow them to focus ntilY on improving the service offered to our residents. The orfginal buslness rallona58 for the develL)pmenl remains valid and thè dirèctors intènd to review this again in the future. On 1st July 2025 WÉ w8lcom8d Andrèw Hughes as a director and Iru5tee. Andrew has considarable financial management experience as well as chatity work. and in addilion Andrew's father was a resident al Lear House where Andrew visited regularfy. giving him a valuable perspe¢live as a user of our sarvicès. The financial results for the yeai show the Socièty incurred 8 deficit of £26.445, however, thi5 is after writing off sls of £114,158 in connection with the disconlinued capital project as mentioned abov8. Excludlng these costs the Soclety produc1 a surplu8 of £87,71312024 surplus £90,948). The surplus includes an increa8e in the value ol inv8Stm8nts at the year end of £3.07312024 increase in value £34,658). The directors believ8 that, notwithstanding the Burrenl issu. the Society is strongly placèd to continue lo grow and provide a high standard of care lo our resiLlenls in th& futu. ReseE8 and investmont poliGies The Society has always used its surplu5 free re5etves being funds not comprised of ffixed assets or other d85ignaled resBrvos - to help fund the cost ol improvements to the Sem and support provid8d to rasidents nduding helping lo fund, in the past, the implementation and ¢ompletlDn of housing property projects. The aim of the Society is lo h8va day to day njnning costs which will be funded by amounts r8ceived in respect of residents, charges. The Executive Committee continues lo review ils reserves policy and has concluded that a level of free reserves of £370.000 12024 - £370.OOQI} is appropriate. This amount equates to approximately four months Of normal xpenditure requirements. The Committee considers that the level of free reserves is satisfactory.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Internal financial control The Executive CoTnmittee acknowledges that f( is Sponsible for the Society's system of internal financial control. which can onty provid& reasonable and not absolute assurance against material misstalemenl or loss. All expenditure is controlled by the Generdl Manager with the exceptron of sp@cialist h8alth care supplies which ar8 aulhorised by the Cgre Managei. The General Manger, with the help of the bookkeoper, wnsolidal?s all the expenditure into monthly reports to produc8 intemal management informallon. The management information and underlying data are reviewed regutarly by th8 Executive Committee al their meetings and ¢ompaied to budgets prepared at the beginning of each financial year. Before the ènd of each year the management information is ulilised to provide updated prDjeEtBd figures for tho year and al80 lo provide projected figuras for th& following year. These projections are prepared by rnanagernent and reviewed by the ExecutlV8 Committee. The Executive Committee monitors the actual expenditure and compares this to the ldgeted expenditure. All major items Df expenditur8. wh8th8r or not anticipated by th8 Society's budgets. are approved by the Executive Committee and dat wlth by the Society's He8d Office. The Executive Cornmittee meets at least quarterty lo manage the running of the Society and lo ensure that we wrsue dev8lopm@nts in our services which will continue to meet the needs of older people. both now and in the future. The Executive Committee reviews its proc8dur8s on an annual basis. Rlsk management The Executive Commlttee has overall respon5ibilty for ensuring that the Soaely has approprlale systems ol controls, finanaal and olherwisa. The systerns of fiarla1 controls are designed to provlde reasonable, but not absolute, assurdnce against material misstatement or Ioss. They include an annual budget, approved by the Executive Committee, monlhly r¥views of actual results and variance8 from budget, and delegation of aulhoTrrity and segregation of duties as far as possible given staffing levels. The Exe¢utiv¢ Cotnmittee has a55e8sed the major risks to which the Society is exposed. in partIlar those related lo the operallons, finances and strategies of the Society. and Is satisfied that systems are in place to mitigate exposu to the major risks. Statgm9nt of Exe¢utlve Commlttee regponsibilitios The Executi Committee are responsible for preparing the annual report and th? financial statements in accordance wllh applicable law and regulations. Company law rgquires the Executive Committee to prepare financial statements for each financial year. Under that law the Executive Gommittee have elected lo prepar8 th8 fin8ncial statemgnts in 8ccord8nce with United Kingdom Generally Accepted Accounting PTactice Iunited Kingdom Accounting Standards and applicable lawl. Undei company law the Executive Comffltttee musl nol approve the financial statements unless they are satisfied Ihal they glve a true and fair view Df the st2te of affairs of the Society and of the surplus or deficit of the So¢Sety for that period. In preparing these financ#81 stslemenls, the Executive Committee ar6 required lo.. select suitable accounting polici8s and than apply them CDnsistèntly', make judgements and accounting estirnales that are reasonable and prudent.. prepaie the financial stalements on the going concom basis unless il is inappropriate lo prosumo that Ihg company will continue in business. The Executive Committee are responsible for keeping adequate a¢untIng records that are sufficient to show and explain the Swely's transactions 8nd disclose with reasonable a¢curacy al any tlme the financial posllion of thè Souety and enablB them to ensure that the financial slalemen15 comply with the Companies Act 2006 and the Housing and Regeneration Act 2008. They are also responsible for safeguarding the assols ol the Society and hence for taking reasonable steps for the prevention and detection of fraud and olh8r irtegularities. Audltor In accordance with the Society's artides. a resolutSon woposlTrJ that Lonsdale & Marsh bo reappolnled as audllor of the Society will be put at a General Meeting.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of disclosu to audltor SD far as each person who was a Trustee 81 the dale of approving this report is aware, th8r8 is no relevant audit infornialion of which th8 Society's auditOT is unawaro. Additionally. the Trustees individually have taken all the nècèssary steps that they ought ID have taken as Trustees in order tr) mak8 themselves aware of all relevant auéil Infom)alion and to establish that the Society's 8udttor is awar8 of that information. This r8PUrt has been prepared in accordance with th8 provisions applicable to companies entitled to the small companies exemption. On behalf of th8 board tAre¢tor 3 Soplember 2025
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED Oplnlon We have aud51ed the financial statements of The Abbeyfield Hoylake & West lfjrby Society Limited (the 'company'l for thè year énded 31 March 2025 which comprise the ststement of incoffle and retained eamings, the balan she81 and notes lo the financial statements. induding signtn¢anl aoUnting policies. The financial reporting framework that has been applied in thèir pr8p8r8tion 18 applicable law and United Kingdom AccoLJnting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applie8bl8 in tha UK 8nd R&publlc of Ireland (United JQngdom Generally Accepted Accounting Pra¢tiGol. In our opinion the financial st8temenl8.' give a true and fail view of the slate of the company's affairs as at 31 Mar¢h 2025 and of its deficit for the year then ended., have beèn properly prepared In accordance wlh United Kingdorn Generally Acc8Pt8d Accounting PractiC8', and have b6&n prepared in accordance with the requirements of the CompanifysAct 2006. Basls for oplnion We conducted our audit in accordance with Inlgmalional Starvjards on Auditing IUKI IISAS IUIQI and applicable law. Our responsibiliti&s under those Standards are further described in the Audilorfs SponSibl11¢10s for theTr audit of the financial statsffjpnls section of our report. We are independent of the company in a¢¢ordance with the ethical requirements that ate relevant lo our audit of the fin3noi81 statemènts in IhÈ UK, including thg FRC'S Ethical St8ndard, and we have fulfilled our other ethical responsibilili8s in accDTdance with these requirements. We believe that the audit evidence we hav8 obt8in8d is suffi¢ient and appropriate lo provide a basis forour opinion. Concluslong rolating to golng concern In auditing the financial statements, wè have concluded thal the direciors, use of the going ¢onwn ba8is of accounting in the preparation of the financial slalernents is appropriata. B8sed on the work we have perforrned, we havo WlQt identified any material uncertainlles relating to events or conditions that, indimdually or collectively, may cast significant doubt on the company's ablllly to continue as a going concern for a perlou of at least Iwelve months frorn whèn the ffnanci81 ststem8nls ar8 authorised foi i8sU&. Our responsibilities and the responsibililigs of the directors with respect lo going eK)ncern are dBscrib8d in th8 relevant sections of this report. Other infomiatlon The Executive Committee are responsible for the other information. The othar infomialiDn eA)mprisès thè infomiation included in the annual report, other than the financial $18teThenls and our 8udilor's report Ihereon. OUT opinion on the financial slalem8nts does not cover the other information and. except lo the extent otherwise explicitly stsled in our repDrt, we do not exprèss any form of assurance condusion Ihereon. In ¢xJnnection with our audit of the finawal stslemenls, our r8sponsibility is to read the other inf0mtn and, in doing so, consider whether the other information is Matl311Y inconsistent with the financial slalemenls or our knowledge obtained in the audit or otherwise appears to be materially rnisslaled. If we identify such material ncon$islencies or apparent material misststewnenls, we are required lo delenMin8 wh8th8r thare is a material misstat8m8nt in thè financial slalemellts or a material rnisslalement of the olhei inlormalion. If, based on the work we have performed, we condude that there is a material mi55talement of this other information. we are required lo report that frdct. We have nothing to report in Ihls regar¢J. Oplnlons on othèr matters prescrlbed by tho Compan1 Act 2006 In our opinion, ba8ed on the work undertaken in the txurse of our audit.. the information given in thg Executive CornrnrfLtee's report for the finaneAal year for which the financial stslemenls are prepared is consistent with the financial stataments; and the Executive Committee's report has been Prepared in accoTdaFice with applicable legal requirements.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED (CONTINUED) Matters on whlch we are requirgd to report by èxception In the light of the knowledge and understanding of the company and ils environmenl obtsined in the course of the audit, we have not Identffied material misstalern8nts in the Ex8CUtiv@ Committee's report. We hav8 nothing to report in respect of the follwng mattS where the Companies Acl 20[ requires us to report to you if, in our opinlon.. adequat8 accounting records have n(rt be8n kept, or retums adequate for our audit have not been received from branches not Visilod by us.. QT the financial slalemenls are not in agreement wilh the accounting records and retums- or certain disclosures of Trustees, remunef81ion specifi8d by law are not made., or we have not received all the information and explanatiDns we require for our audit., or the Executive Committee were not 8ntitlad to prepare the financial statements in accordance wlth the sm811 companies regime and lake advanlaye of the small companies, exémption in preparing the Executive Commlll89's roport and tske advantage of thts small ¢ompani85 8xemplion frotn th8 requirement to prepare a strategic report. Responsibilitse¥ of dlre¢tor8 As 8xplaineé more fully in the Execulive Committee's responsibilities st8temenl, the Trustees arB responsible for the prÈp8ralion Df the financial statements and for being sabsfi8d that they give a trug and fair wew. and for such inlemal control as the Trustees determine is necessary ID enable the preparation of financt81 slalements that are free from material misslalemènt, whéth8r due to fraud or error. In preparing thè financial stalemenls, the Trusle8s are responsLe for assessing the companys ability 19 wnlinue as a going Con, di8cIo8ing. as appli¢able. mallers related lo going conc8m using the going concorn basis of accounting unless the Trustee8 either intends lo liquidate the eompany or to ceaso operations, or have no realisllc allemative but lo so. Auditorfs ro$ponslbllitles for the audit of the flnanclal statoments Our obj801ives are to obtain reasonable assurance about wh8ther the financial statements as a whole are free from mateTial misstatomenl. whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assuiance is a high level of assurance but is not a guarantee that an audit conducted in accord8nce ISAS (UK) will always detect a material misslalemenl when it exists. Misslatemsnts can arise from fraud or error and are considÉr8d m31erial if, indwidually or in the aggregate. they could reasonably be axpecied lo influence th8 8conomlG decislons Cbf users tsken on Ihe basis of Ihe5e finanry81 st8taments. The extent to whith our procedures are ¢apable of delecthng irguIar1lk9S, including fraud, is detailed below.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED {CONTINUED) Wo oblaingd an understanding of thè lègal and r8gulalory frameworks thal are appllcable to the Soaèty and delerrnined that the most significant are those that relate to the Care Quality Cotllrni5sion requirements and those laws and regulations that have a direct irnpact on the financial statom8nts such as the Companies Act 2006. Our approach lo Idenltylng and assessing the risks of material mi88talemenl in resp8cl ol irregularitses, induding fraud and non-compliance with laws and regulallons, in¢luded the following.. the 8ng8gemenl partner ensured the engagement team collectively had the approprlale Compelgncg. cap8bililie$ and skills to idenlify or recognise nonwcompliance with applicable laws and regulations- discussions with senior Management,. identified laws and regulations were cornmunicalecl wiihin the audit learn who rernained alert to instances of non-¢tsmpliance throughout th8 Budit. We evaluated rnanagoment's in¢&ntives and opportunities for fraudulent manipulation of the financial statemenls (including override of contmlsl 8nd addressed the risk through.. m8king enquires of thosg Charged wllh govemance as to th8ir knowledge of actual, suspected and alleged Instances of fraud., onsidering th8 intérnal ¢ontrols in place lo mitigate tho risks of fraud. In response lo the risk of irregularitles and non-compliance wrth laws and regulats'ons, we designpd our audit proc8dures whith induded. bul was not limited to.. agr88ing financwl statoment di8dosure$ lo underlying supporting documentation., reviewing the minulBS of meeting5 of those chargèd with governance- reviewing corresponcfence with prolesskjnal advisors., reviewing for any transactions undertaken with related parties such as those ch8rged with yovemance andl Dr directors,. checknng exponses are bona fide transactions of the Soaety. Becaus8 of thè inherent limitations of an audit, there is a risk that W8 will not det8et 811 irregul8rille8, Induding those leading to a material misstatement in the financAal slalemenls or non-compliance with regulations. Th8 risk is also greater gardIng irregularitiès occurring due to fraud rathtsr than error, as fraud involves intentior1 concealmènt, fery. collusion, otni5sion or misrepr&sentalion. A further description of our respgnsibilitl8s is available on the Financial ReprM1ing Counol's website at.. http5',11 www.frc.org.uklauditorsresponsibililies. This description fonns part of our 8LJdito¢$ report. Usg ofour report This report is made solely lo the SoThety's rnernbers, as a body. in accordance wllh ChaplEr 3 of Part 18 of the Compan$ Act 2006. Our audit work has been und@rtak8n so th81 wo might stsl& to the Society's members those rnallers w8 are required to slate to them in an audilorfs ieport and for no other purpose. To the lullesl exlenl permitted by law, we do not acpt or assume responsibility tr) anyone othèr than the Sodety and the SocAety's rll8mbers. as a body, for our audit work, for this report, or foT th8 opinion5 we have fonned. Elalne Frances McElroy S&nlor Statutory Auditor For and on bghalf of Lonsdafg & Marsh 4 Seplember 2025 Chartered A¢¢ountants statutory Auditor 509- 510 Cotton Exchange Bixteth Street Liverpool L3 9LQ
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Incomè 1,269.336 1,253,290 Distribution Go$ts Adtninislrative expenses Other operating incornellexpenses Exception81 itém 11,025,521) (217,1771 16,508 (114,1581 {908,016) {249,9581 180,1111 Opèratlng {daficitllsurplus 171,012) 15,205 Interest r1Vable and similar incom& IncreBs8lldecreasel in fair value of investments 41,494 3.073 36,449 39,294 IDgficit>15urplus before taxation 126,4451 90.948 Tax on {defjcitl18urplus (Deficitvsurplug for thè flnancial yaar 126.445) ),948 Retsined èarnings brought forward 3,669,643 3,578.695 Retsined earnings carried forward 3,643,198 3.669.643 The incom8 8nd 8xpendilure account has been prepared on the basi¥ that all operations are Gontinuing operation8.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed a85ets Tangible assets Inv08tmenls 2,060,224 1,038,627 2.071.162 1,013.751 3,098,851 3.084.913 Current assots Debtors Cash al bank and in hand 46,838 853.997 135,735 7e1.213 900.835 8S6,948 Creditors: amounts falllng dug wlthln one year 10 (356.488) (312.2181 Net Current asBets 544,347 584,730 Net assets 3.843.198 3,669,643 Ro$grveB Inme and expenditure account 3.643,198 3,669,643 Total members. fund8 3.843.198 3,669,643 These finandal statements have been prep8r6d In 8¢¢ordance with the provision$ applioable lo companle8 subSe¢t to the small companies regime. The financial statements were approved by the board of dlrgctors and aulhorised for issue on 3 September 2025 and are slgngd on Its behalf by.. an) Ms S Leech Director Director Company regislratlr)n number 00784499 {Engtand and Wales)
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng polici95 Company infomiation The Abbeyfield Hoylake & West Society Limited is a privale company limtted by guarantse incorporat8d in England 8nd Wales. The registered office is Lear House, 17 Damionds Green. West Kirby. Wirral. CH48 5DT. 1.1 Basis of preparatlon These firiancial stalgments have been prepared in accoTdance with FRS 102 'The Financial Reporbng Sland8rd applicable in the UK and Republic of Ireland" l°FRS 102.1 and the requirements of the Companies Act 2006 88 applicable lo corllpanies subj8Ct to the small companies regime. The disclDsur6 requirements of sèction 1A of FRS 102 have been applied other than where addttional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the fundonal currency of the company. Mon8tary amounts in th@S8 financial stslemgnls are rounded lo the near&sl £. The finanaal statements have been prèpared under the hlstorical cost convention. The prtncApal accounting policies adDplgd are set out below. 1.2 Income 8nd expenditurn Income and expenses are indLKlod in ths financial statem8nls as they become re1vable Dr due. 1.3 Tangible flxed as59ts Tangible ffixed 8SSats are initially m8a5ureil at C05t and subsequently measured al cost or valuation. r*1 of dèpreciation and any itnpairmenl losses. Depreciation is recognised so as lo write off the cost or valuation of assets less Ihsir residual values over thoir useful Iwes on the following bases= Land and buildings Land and buildings Leasehold Fixturas, fith'ngs & equipmgnl 100 ye8rs bul see below 20% and 30% reducing balan Fre8hoSd land is not depreciated on account of its indefinite useful Ilfe. Flnandal Reportsng Standard 102 statas Ihal all assgls must be depreciated. Thè depreciable amount of an asset is calculated as cost less rèsldual value. Under FRS 102 re8idLJ31 values are bassd r)n the price which an entity would currently obtain if il were to dispose of the asset less Ihg eslimaled costs of dispos81. The Committee have wviewed the policy on depreciation and consider that the current residual value of the properbes is in excess of the $ts and as such a provision for deprecSation is not required. 10-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Aeeounting pollcles (Continue(11 Housing PrortieS acquired (Including landl on the Open market are staled at cost less deprecAation and impairment where applicablé. The cost of housing froehold land and propety represents their purchase pdce and any direclly ailributable costs of acquisition. All invoices Ind archi18Gt'8 certificates relallng to capital expenditur8 arè included in the financial stalemgnts al the gross value provided that the 8xpendilure incurred on the architect's certificates was completed by the end of thè 8Ctx)unting year. Diredy attributable costs of construction Includes capitalised interest calculated. on a proportion81 basbs. Using finan¢e $ts on borrowing whith has been drawn in order lo fillance the relevant construction or acquisition. Expenditute on major Tefurbishment to pmperties is capitalised where the works increasè the net Tental stream ov@r the life of the prop¥rty. An increase in the nel rental stream may arlse through an increase in the nel rental income, a reduction in future maintenan costs, or a subsequent BXten5ion in the life of the property. All olh&r rep8ir and replament expenditure is charged to the Stalewnent of Incom8. 1 A Fixgd asset Inv•stments Fixed asset investments ar& initt81ty measured at transacuon prlce excluding transaction costs. and are subsequently measured at fair value al each reporting date. Changes in fair valuè 8re rètognised in nel incomel{oxpend(ture) for the year. Transaction Costs are èxpensed as incurred. 1.5 Impalmi?nt of flxed assgts At each reporting period end date. the cornpany reviews the carying amounts of ils tsngible assets to delertnine whether there is any indication that those 8$8els have suffered an impaitmenl loss. If any such Indl¢alion exists, the recovefftble amount of the asset is eslimatsd in order to determine Ihe extent of the impairment loss lif any). VVher@ il is not Possible to estimate the recoverable amount of an individual asset, the company eslimales the recoverable amount of the c88h-generating unil to which the 8ssel belongs. Racoverable arnounl is th& higher of fair VBlue less sts lo sell and value In use. In assessing value in use, the eslimaled future cash flows aro diso)unled lo their present value using a pre-tax discount rale that reflects current market assessments of the lirne value of money and the risks specffic to the a58et for which the e51imales of fLrtur8 CAsh flows have not been adlusled. If the recoverable amount of an asset lor cash-generaling unill is èslimat8d to be less than its carrylng amount, the carrying amount of the asset lor cash-generaling LJnf(l is reduced lo its recoverable amount. An impairment Ioss is recognised immediately in surplus or dBficit. unless the relevant 8ssÈI 1$ Carried al a revalued amount, in which case the impaim*nt IDSS 18 Irealed as a revaluation decrease. Recognised impairrnenl losses are reversed if. and only rf. the reasons for the impairrnent loss have ceased to apply. Where an impairment loss subsgquenlly reverses. th8 carrying amount of the asset (or cash-generaling unil) is in¢r8ased lo the revised estimate of ils recoverab19 amount, bul $0 that the incre2sod carrying amount does not exed the (%rrying amtsjnt that would hav8 been delermin8d had no impairment loss beon rÉcognised for the asset lor cash-generaling unill in prior years. A reversal of an impaimienl loss is recognis8d immediately in surplus 01 defieil, unless the relevant asset is carried al a r8walued amount, in which case the reversal of the impairment loss is tr8Atèd ag a ievajualion InCaSe. 1.6 Cash and Cash equlvalents Cash and cash 8quivalenls are basic fflnancial ass8ts and Include cash in hand, deposits held al ¢all with banks, other short-tem) liquid investments with original maturities of Ihreu tnonlhs or less, and bank overdrafts. Bank overdrafts are shown wilhiri borrowings in current Ilabililies.
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.7 Financial Instruments The company has 8lected to apply the provisions of Section 11 'Basic Finanual Instruments, and Section 12 'Olher Financial In51Turnenls Issues. of FRS 102 to all of its financ¢al instruments. Financial instrumpnls are recognlsed In tho company's balancè sh881 when the company becomes psrty lo the contractual provisions of the instrument. Financial a$sel8 2nd liabilities are off8el, with th8 net amounts presented in the fin8neAal slatemenls, when there is a legally enforceable right to set off the recognised amounts and there is an IntenlSon lo settle on a net basis orto realise the asset and settlè th@ liabilty simuttaneously. Ba510 finan¢Fal assets Basic financial assets, which include debtors and cash and bank bal8nc85. are Initially measured al transaction price including transaction cosls and are subsequently carried al 3mortiS8d Gosl u8ing the elfeotiv8 Inter8st method. le88 any impairm8nt. Trade creditors are obligations to pay for goods or setvices that have been acquired in the ordinary course of busSness frorn suppliers. AmoLsnts payable are classified as Guent liabilities if payment is du@ within one year or less. If not, th8y are presented as non-currenl li8bilities. Trade creditors are recognised inilialty at transaction prlce and subsequently measur8d 8t arnortised cost using the effective inlerost method. 1.8 Taxatlon The company is 8xèmpt from Gorporalion tax, it being a company not carrying on a busines8 for the purposes of making a profft. 1.9 Employee bgng11ts The costs of short-torm employee beneffts are recognisgd as a liability and an expense. unle55 those costs arè réquired lo be recognised as part of the cost of stod( or fixed assets. If maleiial the cost of any unused hollday enlilbernent is recognised in the period in which the employ8e's services are received. Temiination bentS are recognis8d immediately as an expense when Ihe company is demonstrably Committ lo lerminale the gmployrnent of an employ88 or tD provide termination beneflts. 1.10 Roliramont benerrt8 The Swety operates a defined contribution sd)em8 for the benefit of its employees. CDntribuiions payable are charged to th8 profft and loss account in the ye8r Ih&y are payable. The ass8ts of the scheme are held separately from those of the Sociely in an indepÉndently administered fund. 1.11 Lea58S As lessee Rentals payable under c>peraling leases, inclvding any lease incentives received, are charged to incom8 on a straight line basis over the term of the relevant lease except where another more systematic basis is mDre repr8senlalivè of tha time p*lern in which economic bÈn8fits from the lease asset are con8urned. 1.12 Govemment grants Government grants are re¢ognisèd al the fair value ol th8 asset Teceived or rec4ivable when there is reasonable assur8te th81 the grant conditions will be mel and th8 grants will bo leIved. Govemmenl grants relating lo turnover are recognised as Sncome over the periods vthen the related costs are incuff8d. Grants relating to an asset are recognised in income systematically over th8 asset's expected useful life. If part of such a grant is deferred it is r8cognlsed as deferred income r8th8r than being edted from the asset's carrying amount. 12-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEmErs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcl (Continued) 1.13 Repayablelr•cy¢lable capltsl grants On the occurrenTr of certain relevant 8nts. primarily change of use or the sale ofthvellings, Homes EnglatKI can direct th8 Society to recycle capital grants or to make repayments of the recoverable amount. Such amounts are dIld in the balance sheet undor"credilor5 due within one year" 1.14 Monetary donations Income from donations and legacies is accounted for on a receivable basis when11 Is MO likely than not Ihsl the economic beneffts will flow to the Souety and the amount of the income can be measured reli8bly. 1.16 Cash flows The Society has taken advantage of the disclosure 8xèmption in FRS 102 not lo prepare a cash flow 8lalem&nL Judgements and key sources of estlmation uncerbrnty In !hE application of the cornpany's a¢countlng policr@s, thè directo are requwed to make judgernents, @stimales and assurnptlons about the carrying amount of assgts and liabilities that a not readily appar8nt from other sources. The e51imales and assoaaled assumptions are based on historfesl experience and other factors that ar@ conskyered to be relpvanl. Actual r&sults may differ from these &stSmates. The estimates and underlying 88sumpliDns are Teviewed on an ongoing basis. Revisions to accounting estimatès are reojgnised in the period in whi¢h the estimate is resed where the revision affocls only that period, OT in th8 period of the revision and future periods wherg the rewsion affects both current and futu period8. Incomè frorn resldentlal chargos 2025 2024 Potential residential incom8 Losses arising from vacanaes elc. 1,353,669 1,328,441 184,3331 173,152} 1.269.336 1,253,290 Whilsl pursuing thè now suspended plans to amalgamate Elliot House wth Lear Hous8, as mentioned in tho Executive Committea's Report. tho Tiuslees have deryded not to Use the rooms within Elliot House for th8 foreseoable future. The potential residenlal income, as stated above, doe5 not include income from these rooms. The units in management. disdosed in Note 1fj. do indude these rooms as they a reglslered with coc. Excepilonal item 2025 2024 Expènditure EXClI0al item 114,158 As noted In the Executive Commi11è8's Report the costs in ¢onnecÉion with the capital project to link Lear House and Elliot House are exp¢cted lo be significantly higher than had originalty been anticipated. 11 is for this reason that the directors have decAded not lo continue with the project. The expendilurF> incurred to date, previously recorded within other dgbtors as assets in the course c>f con$lruclion, have been written off. 13-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Opèrnting IdeficiturpIu$ 2028 2024 Operating Idefictillsurplus lor the year is stated after chargingllcredi1Sngl.' Government grants {s88 note 111 Fees payable lo the company's auditor for the 8udit ol the mpanY8 financial sialernenls Depre3t&( of owned tangible ffixed assets (Profilllloss on disposal of tangible fix8d assets Opèrating18a5e charge8 91,866 7,416 10.938 7.200 11.811 84D 19,296 17,889 Employaas Th8 averdge wnonlhly numL*r of persons (including dirgctorsl employed by the company during Ihg yearwas.. 2025 Numbar 2024 Number Housing. support and care Administration 32 38 Thelr aggrogale remuneration comprised.. 2025 2024 Wages and salaries Soclal security costs P8n$ion costs 775,913 59.518 12.774 702,472 52,630 11,540 848.205 766,642 Redundancy payments made or committed 14-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Land and Plant and buil(lings machin8ry &t Total Cost At 1 April 21Y24 and 31 March 2025 2,043,Q37 69,950 2.112,987 Dgprociatlon and impalmiènt At 1 April 2024 Depreryallon charged in the year 41,825 10,938 41,825 10,938 Al 31 March 2025 52,763 52,763 Carrylng amount At 31 March 2025 2.043.037 17,187 2,060,224 At 31 M8rd) 2024 2.043,037 28.125 2.071,162 Flxed assgt investmènts 2025 2024 Investments 1,038,627 1,013,751 Flxed asset Investsnents revalued The listed investments are induded in the financlal statements at market value. The investm1 portfollo 18 managed by Rathbones Investm8nt Management. The portfolio has been constructed in accordance with the Trustees, instmctions regarding investment objectives and risk level. At th8 year end the cost of the investments was £1,008.62612024 £985,928). Movgments In fixed asset Imie81ments Investmgnts other than loans Cost or valuation Al 1 April 2024 Addf(ions Valuation changes Disp05als Movemènt on inwme and capital accDunts 1.013,751 215,586 3,046 1201,855) 8,099 Al 31 March 2025 1.038,627 Carrylng amount Al 31 March 2D25 1.038,627 At 31 March 2024 1,013,751
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Debtors 2025 2024 Amounts fglllng due within one year: Rent outstanding Oth&T debtors 18,567 30,271 14.214 121,521 46,838 135,735 10 CredStors- amounts falling duo wlthln on8 yaar 2025 2024 Note8 Hom&s England grant repayable Trade ¢redilors Taxation and social s8curity Other cr?ditor5 Acouals and deferred incom8 234.540 77.513 13,001 10,283 21,151 234,540 39.333 12,709 14,268 11,368 356.488 312,218 11 RopayahlelreGyclabl¥ capltal grant As a result of discussions with Homes England the Souety has been direct8d to repay social housing grants lotalling £234,540. Trè grants were received in the 1980's for sodal houslng a(mmOdation which the Soaety no longer operates. In accordance with accounting pOliS the Society has pre0V$1Y aGcounled for the grants as deferred income in the balan sheet ar)d released il.lo income on a systematic basis over the usefvl lrfÈ of the propety for which the grant w88 received. In older to discloso the correct grant r8payable in the financial slatemants for the year ended 31 March 2024 the proportion Of the grant pvIOuslY shown as dèferrèd incorne, £2,345 and £140,329 was transferred to other creditors. In addition the grant previously released to income of £91,886 was shown as an expense1n the staternBnt of income retained eamings within other operating in¢omel{expense$}. 12 Housing stock 2026 2024 Housing acrxJmmodalion- number of bed sPS Units under development Units in management 33 33 16
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Members. liability The Society is a company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subje¢t Ig an undertaking by @ach member lo contribute lo Ihe nel assets or liabilities of tho comp8ny on winding up such arnounls as may be required not exceeding £1. The members of the Society are the Exoculive Committee and the SU¢0Mmittees. Thè lolal number of membars a131 March 2025 was 612024- 61 14 Opgrating lea8• commltments A8 lessee At the reporting end date the company had oulslanding commitments future minimum lease payments under non-cancellable operating leases. as follows.. 2025 2024 Total commÉtments 105,507 122,139 15 Capltal commitsnents There WBie no financial committments at the year end12024 nlll, 16 Related party tran8actlon$ None of the members of the Society lor any p&rsons CC•nnect?d with them) received any remuneration. expenses or bengfits during the year {2024 none). 17 Contlngent a8set The Society has been notified that they have been named as a beneficiary in a will and should 8XP8Ct to receive 8pproxlmately £55.000. HDwever. the firm of SDlicilors dealing with the deceased's fyslalg has been closed due to an intervention by the Solicitors Regulation Authority. Legal cosis have been Int1red in appointing a Solicitor lo act Dn behaw of tho bgneficraries. 11 is unc18ar, al this stage, whether any funds will bo available to distribute amounts due Its the beneficiaries. Oue to the uncertainties a provision has not been made for any amounl which may b8 paid lo the Society in the future. 18 Non-audit seNlces provlded by auditor In common with many businesses ol our size 8nd natu we use our auditor lo asslsl wlth the preparation of the financial statements. 17
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT UNAUDITED FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Income Residents, fees Respite fees 1.234,78S 34,567 1,206,864 48,426 1,269.336 1.253,290 other operatltYJ incom• Donation5 Government grants receivable and released Employment allowance 11,508 6.755 191.866) 5.000 5.000 16,508 180,1111 House operatlng gxpenses Wages and salari8s SoGial Security costs Staff training Staff pension costs defined contribution Agency caring se18 and nursing Food Rent re operating leases Wat8r rates and council tsx Gleaning inc. PPE costs Gardening costs Power, light and heal Property repairs and maintanance Boi18r replacement- Lear House Boiler replacement- Elliot House Insurance Telecornmunicalions Residents. entertaining Sundry expenses CQC subscription Depreciation on household fumilure and equipmenl Loss on obsolete tangible assèts 688,623 52,227 7,128 11,186 605,805 45,296 6,903 9.819 2.028 45,524 17.323 11,701 19,015 6,711 47,131 16,282 12.262 17,245 7,500 35,319 97,058 33,573 26,174 22,135 10,006 448 5,295 1,225 5,023 10,887 725 8.926 91 8.238 1.135 5,023 10,147 {1,025.5211 (908.0161 Balance carried forward 260,323 265,163 18-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT UNAUDITED(CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Balance brought forward 260.323 265,163 Administrative expenses W898s and salaries Social security costs staff pension costs defined contributn Health insurance Rent re operating leases Computer Tunning Costs Travelling expenses National affiliation fee Legal and professional - Workne8VGf(ation Legal 8nd professional - FinancSal Plannlng Legal and prDf8ssional - r8 Elliot House Legal and prof&5sional - efflploymenl matters Legal and professional - Acton health & safèty Ralhbon85 management f&es Non audit remuneration paid lo auditors Audit fa8S Audit fees un¢Yorpro¥ision re prior yèar ank charges Bad and doubffiil debts Conlrfbulions towards resldenls, fees Printing and 5tstionery Adv8rtising Tele¢ommunicalions Sundry expenses D8pre¢iallon Loss on ob50181è tangibl8 ass&ls 87,290 7,291 1.588 3,602 1,607 15.278 145 8.862 4,341 1,500 96,667 7,334 1.721 3.376 1,973 22.438 297 6.191 5.794 1,500 {6.5101 712 6.236 8,091 600 7,200 360 258 1.492 6,CQO 7,401 240 7,416 238 46.264 2,043 10.506 68,595 2,810 10,167 114 2,994 924 115 3,226 791 (217.1771 (249,9581 Exctptlonal items Exceptional item 1114,1581 Operatlng Ideficitllsurplus 171,012) 15,205 Invasfmont revenues Bank interest received DNidends from investments measured al fair value 11,405 30,089 7,e22 28,627 41,494 36,449 Balance carrlgd fomard {29,5181 51,654 19-
THE ABBEYFIELD HOYLAKE & WEST KIRBY SOCIETY LIMITED DETAILED INCOME AND EXPENDITURE ACCOUNT UNAUDITED{CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 202S 2024 Balance brought forward (29,5181 51.654 Othèr gains and108se8 Increaselldecreasel in value of investménts measured al fair value ProfiVILDssl on disposal of investments measur8d al fair value 3,046 34.658 27 4.636 3.073 39.294 IDeflcity3urplu$ for the y•ar 126,445) 90,948 -2D-