BE LD MIT Ll BY BEYFIE COMP ANKLIN rrED rrED FIN IAL STATE BER Report of the Executive CorAmlttee Statement of &xeeutlve Commlttee% Rewn•l￿1tl￿ Statement of Fknwnd￿ Actr4itk• artce Sheet Note• to the Statements 8-14 ABBE LD SHAN LIN OClTh LIMrrED A COMPANY UM EDBYGU 10 RS Mr¥ M C]•xke Mr M Ryan Rwtered Office The Abbeyfieki STr￿￿1￿ &cAety L4mited 14 Queens RoAd Shanklin Isle of Witht P037 6AN AHCr08s&Co l6 Quay Strctt Isle of W¥ht P030 SBG 102 St James. Street NcwpDrt Isle of Wight P030 IUP ABBE IBLD SHANKLIN SOCI MPANY LIMITED BY LIMITED OFTHEE UTWE EE The Executive Committee 8ubmlt their report and the fmancial statements for the year ended 31 October 2024. Prin ' al Activltles The prinupoj activity of the Society continues to be the provA8ion of accommodation for lonety ond elderty people in accordance with the aims and principles of The Abbeyfield Society Limited. Thts activity falls wholly Mthin hostel housing activities a8 defined In the Housin6 Act 1996. Ob ectives The objective$ of the Society to provide elderly people wlth environment in which to live that allows them to be independent whilst having support when needed. The Executive Committee 18 8at1811ed the Society achieved it8 objective8 an the year under review. tatus The Society 18 registered under the Compw)leg Act 2006 (registered number 00776S631 and 18 limited by &LwHntee. There were 4 members at 31 October 2024. The company is re8i8tered under the Hou8iDg Act 1996 IRegl8tratlon number H208518nd is 8 Charity Inurnber 23781 11. The Executive Committee The Executive Committee of Tu8tees 8erving at the date of approval ofthe fmancial statements are: Mt J Gilbey BEM Mr8 M Clarke Mr M Ryan The Exeeutive Commlttee eompri#e$ the eharitrfs Trustees. who are 8180 the Company Directors. in From time to time the Society revlews the 8kill8 and abititie8 of the Tru8tee8 to ensure there dequate breadth of exEberience. Should this be la¢knng or if additional Trustees are required due to retire￿t. prospective Trnstees are invited from the Memtership to apply. isational Structure Day to day runni￿ of the Societys affair8 is conducted by the House Manager, who reports to the T￿8tte8. The Tn￿tee5 meet fornially on a monthty ba8is and at additional times as required on an InfOrn]￿ basis to deal with issues requiring their input. The Tru$tee$ eonflm that ajl major rtsks Identlfied have been a8Je88ed and 8ystem$ Implemented to manage th08e ri8ks. ABB YFIELD MP ANK LIMIT NSO BYG IETY LIMITED nan Review The Society benefits from the aehievement5 of the Committee in previou8 years providlng a 8trong financial ba8e. The Tru8tees main concern8 are to provide a good quallty environment for residents to live bnd employees to work. whi18t bojanclng the financi81 con8traints within budget and to eomply with ￿er increa8in8 le￿81atIort covering All al￿t8 of the Society% operationB. The fin&neiAI results for the year are 8et out In the Statement of Flnancial Actlvltie8 on page 6. and the position at the end of the yeox 18 #hown in the ￿anCe Sheet on pw 7. The detailed H08tel Property Revenue Account 18 presented on page8 14 and ES. The Statement of Fth8nel8J Activities •how net outKoln8 ruource8 of.. £2.527 12023 - out8oin8 £22.9271. Ail re8ouree8 r¢¢elved ond expended are treated as unre8tricted fL￿d•. The Trn8te¢4 con81der that the 8tats of the Soclety• &ffalr• 18 8At18(aetory. Investment Policy 14 detern]Ined by the FSnAnee Commlttee vAth the alm to ensure that any •urplu• fund8. beyond a •en•lble vmrklng bthee, &re Inveated vAth aul•t•nc¢ from an approprlate profejsional advi80r. As at 31 October 2024 the re8erYes Stood at.. £1,617,29212023 - £1,603.9911 The re8erve8 Include freehold land And bulldlny it&ted at eo#t le88 depreel&tlon o(£1,066,70012023 - £1,080.2301. The board of Tru8teeB 1• 8atifjfied that the clwityjj A•Jet• In the general Are avollable and adequAt¢ to fulfil Its obllgatlon8. Detai18 of cost And depredatlon of fixed a8•et• Are Set out In note# 9 I l. Frotn l November 2014 r￿Ure¥, fittlng• And equipment co•tlng more than £1,000 wlth 15fe beyond one ycor Are ¢apltaUJed and wrltten off over thelr eitlmatsd u•eful live•. No fornioj V￿U￿tIon of the housing property ha• been obtalned. HOW¢￿r, the Committee con•lder the current market valu¢ ¢xceeda the book colt. It waa decided to re-appolnt Me•8rs A H Cr￿8 & Co ￿ Independent Examlner8. Th18 report was approved by the Executlve committee and Sly￿d on its behalf. Ilbey Ichairni FIELD N SOCIETY LIMrrED COMPANY LIMITED BY srATEME MM EE MRMBE PONSIB Lrri The Charlties Act and the Companleg Act require the Executive Cornrnittee members to prepare fjngnd8J statements for each fmanelal year which give a true and fair view of the state of affair8 of the Society a8 at the end of the flnancial Y￿ and of the Surplus or deficit of the Society for the year. In prepgslng tho$e fmanci8J statements the Executive Committee i¥ requircd to: - 8elect 8ultable accounting policies and then apply them con8i8tentty. - make judgements snd estimate8 that are reasonable and prudent. - prepare the fin8JLci81 statements on the going concem basis unle¥8 it 18 Inappmpriate to presume that the Society will continue in bu$lness. - 8tate whether applicable accounting standords 8nd statements of r￿0MMended prartice have been followed. subject to any material depgxtures disclosed and expl8ined in the financlal statement8. The ExeLutive Committtt member8 are also responsible for maintaining adequats accounting Teo)rds which disclose with re￿Onable accuracy at time the financi81 position of the Society ond wbich are sufficient to show •￿d explain the Soelety'5 transactions and enable them to ensure that the financiol statements compty with the Companies Act 2006 and comply wlth regulations of under the Charities Act. They are also respon8ible for safeguarding the a8$ets of the Society and hence for taking reasonable Steps for the prevention And detection olfraud and other irregularities. The trustee8 are also re8pon8ibLe for the contents of the Report of the Executive Committee, and the rcsponsibility of the independent examiner in relation to the Report ofthe Executive Committee 1$ limited to eJEamining the report ensuring that, on the face of the report, there are no IneonsiBtencies with the figures di$clo$ed in the financio18tAtement5. Thege aceounts have been prepattd in accordance with the provislons applicable to companie8 subject to the 8rn￿ companies regime. ABBKYPIELD A COMPANY KUNS rrED BY MrrKD INDEPENDRKf EXAM HE TRusfE HE ABBEYFIEU) S I report on the accounts of The Abbeyfield Skwxkiin Society IAmited for the year ended 31 October 2024. whi¢h comprise the Statement of Finen¢ial Actsvities. the Balance Shttt and the related notes. ective nsibilities f Trustees an iner The Ch￿1￿8 T￿￿teeS (who are also the directors ofthe company for the purpjses of¢omp&ny law) are responsible for the preparation of the accounts. The Trustees consider that the audit tequtrement of Section 144121 of the Charities Act 2011 I-the Act") does not apply. It 18 my re$ponsibility to 8t4te. on the basis of procedures ¥peCif￿d in the Gener81 Directions 8iven by the Charity Commi88ioners under 8ect¥)n 145(Slibl of the ACL whether F•rticular matters have come to trAy attention. dent Exam Commissioner¥. An examil￿tion indude8 a review of the accounting reDJrds kept by the TruJtees d a comparison of the accounts pre8ented with those records. It indude8 consideration of &ny unusual item8 or dlydosures in the ￿Ount$. and seeking explanations fmm you as Trnstses concerning any 8uch matters. The pro(￿uTeS undertaken do not provide All the evldence that would be required in an audit, conSeq￿tIY no opinion is given a8 to whether the accounts Ptesent a true Bnd fair vi￿, and the report is limited to those nwtteT3 #et out in the *atement below. Ind 's Statement cau8e to believe that in, any material respeLt: Amplying wlth the requxrement• of the Comp&nle8 Ac¢ 2006 with reapeet to aco)unting records al￿ the pr¢pAratson ofac£ounts. The accounts have been prep•red In aeeord•nc¢ with the provl•lon8 In Part IS of the Companiej Act 2006 appjkable to CorDpanle8 zubject to the SmAll Compatii￿ re￿￿e. Approved by the Executl¥e Committee a• Tr￿tee$ and Dlrectm ofthe compAny date Date................................. BBEYFI D SHANK SOCIETY LIMITED LIMITED BY G rEE E FINAN ATEME THE ENDED 31 BER 2024 STATUS OF SOCJM The Society 18 a Reg18tered Housing Association under the Housin8 Act 1996 (Registered Provider of Socia] Housing number H20851 and is an exempt charity. The Society 18 wholly engaged in h08tel activities as defll￿d in tbe Hou81ng Act 1996. ACCOUNTING POLICIES Basis The financtaj statements have been prepar¢d under the hiatorical ￿8t convention in accord8nce wlth Accounting and Reporting by Charitie¥: StateD)ent of Recommended Practicc applicable to chositles prep￿ing their accounts in accordance with the Finat]ciAI Reporting Standard applicable in the UK and Repubjic of Ireland IFRS 1021 (effective l January 20151- (Charities SORP (FRS 10211, the Financial Reporting StAnd8rd applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. and include the results of the Society'8 operation8 which are described in the Reportofthe Executive Committee. all of which are corttirtuing. The Society has taken advantage of the exernption in Financial Reporting Standexd No I from the requirement to produce a cash flow staternent. Jncomi Resource Incoming resourc￿ represent the totsj amount receivable by the society in the forn] of t1￿￿0ver. myalties. le8acies ￿￿{ donations. Turnover represents the rents receivable. Monetsry donations to the Society Bre credited to the Ineome Expenditure Account on a receipts basis. Investment Irkcome Bank interest and National Saving8 intere8t i¥ indud¢d on aetual receipts basis. The income from the investment portfolio 18 included on an actual receipts ba818. Rett* n of IA&bilitie8 Liabi]ities are reco￿lsed on the a¢crL￿1¥ bas18 in accordance with norn￿1 accowiting prin¢iples, modified where neeeasary In accordance vjith the gutdance given in the SORP. Resources E end Expenditure is accounted for on an accrua]8 ba8is. Expenses are gjlocated to management. repairs and servlee c08ts on the bASiS of the proportion of tlme or other relevant factors attributable to the activities. Stocks These compri8e ¢aterin8 Stodu valued at cost: the replacement cost of stocks iy not slgnifThntly different from the historical cost at which It 18 stated in the acwmt8. B8YPJELD COMPANY JllMrrED BY TO THE FINANCIAL ATEM R TFIE YEAR ENDED BER 2024 AccouNf]NG POLICIES (continued) reciation Housing IAnd gnd buildings are stated at Cost ks¥ dcpreciation. Prior to 31 October 2014 fixtures. Ettings, artd equiptnent were treated a8 repjacements and charged to the Jncome and Expenditure Acoxmt. From l November 2014 r]xttTr. fittings and equipment costing rn0￿ than £l.¢YJO with a useful life beyond one year are capit¥Jised. Depreciation is prrnded on •Jl tanyble fixed 8sset4 at rntr8 caJcul&ted to wrlte off the eost Freehold buildin88- 1% 8traight line. A full depreciation charge is made on focd assets in the ytar that the a88et is brought into U8e and Tho charge As made in the year of disp￿1. Taxation The Society is ttot reOstered for Value Added TaL Accordingty no VAT is charged to re8idettts. VAT is not reeowernble by the Society. and 18 therefore induded in the relevthnt c*)$ts in the Statement of Finan￿ Activities. expendable at the discretion of the tru8tees in fitherarte of the objects of the Society. Such fund8 may be held in Order to fin￿￿e t*)th *orklng capltsl and ￿pIts1 investnient. obb8ations. The Society contributes 3 TtJRNOVER 2tr24 Residents (ees receivable 285.263 275.141 74 ResidentiaL Charges for the yr4r 286.017 275,883 BEYFtELD SHANKLIN OCIETY LI COMPANY MrrED BY GU OTES TO THE ATEM8lfrs ENDED 31 BER 2024 INVESTMEE￿ INCOME National Saving8 Inl￿ne Bonds 11.363 330 8.212 198 Investment portfolio incon Investtnent Portfolio trtLX)me And Income Divldend8 and InLxme distrlbutlons 3.133 18.272 16.632 Net Porttolao inve8tsnent inconx ADd gai081(k)88e81 DONATIONS RECEIVED AND OTHER INCOME 202 NKf INCOMINGiioufGOINGI RESOURSES Thi8 18 stated after crediting: and after charw ndependent Examinevs reDLuncrntion 998 1.995 2.008 840 1,680 940 Pension costs io- ABBEYFI LD KLIN S ED Ll THE IAL ME 24 EMPl￿YEE COSTS WB8u and oocioj 8ecurlty co8ts Average number of per8on8 employed durlng the year Includin8 Pgrt-tlrne empl¢)yee•: PAITrAENTS TO MEMBERS. COMMrrrEE MEMBERS. OFFICERS, ETC Fee•, remuneratlon or expen•e8 payable to member8 of the Society who were nelther membern of the Commlttee of Management, nor employeeB of the Soclety NSI Fees, remuneratlon or expense8 payable to member8 of the Comzrdttee of MAnAgement ol the Sockty who were nelther offleern nor employeeA ofthe Soelety Nll Feel, remuneratlon or exp¢nJea PAid to officer• of the Society Nll P￿entS or 8ift8 made. or benefits yanted, to the per8on• referred to In sectlon 13 and IS ofthe Hou¥lDS A#Boelatlon8 Act 1996 Nil Nll HOUSING LAND AND BUILDINGS 023 At l NoY¢mber 2023 and 31 October 2024 At l November 2023 Ch8r8e for the year 281.010 267,480 At 31 October 2024 At 31 October 2024 BEY MP HANKLI MITE CIETY LIMITE rEE THE EME THE D31 BE NT 10. HOUSING STOCK H￿tel accommodation- Units under majw￿l I I. F]ThIRES, FITTINGS AND EQUIPME At l November 2023 Addltlon8 68.466 52.332 At 31 October 2024 At l November 2023 Charge for the year 31,326 22.039 At 3 1 Oetober 2024 At 31 October 2024 12. DEBTORS: •Jnount8 faulng due wlthln one yelr D¢btor4 prepa￿entS 1.632 1,632 13. INV&8TMEwrs National Income Savlng• Bond8 The Abbeyfield IIW) Extra Care Society Investment Portfolio 305,000 305.000 12- ABBEYFIELD SHANKLIN SOCIEfY LIMrrED A COMPANY LIhI￿ED BY GUARArirE THE FINANCLIL sfATEMEpirs FOR THE YEAR EfqDED 31 BER2 24 2024 2023 Portfolio: Portfolio market value brought forward Additions at cost 88.223 13.104 IlS.7901 89.136 18,905 110.OS31 Net gainloossl on revaluation Portfolio rn8tket value at 31 October CHA Deposit Account 101.365 2.396 88.223 246 539 Inve8tD]ent market vojue at 3 1 October £105 Portfolio historie eost: Portfo]io historic cost brou8ht forvRrd Addition8 Cost of shares aold 91264 13.104 83.963 18,906 Portfolio historle cost at 31 October 2024 T8x and NI costs 743 7,608 1.497 5.443 Other ueditor8 IS. RESERVES The funds of the clwity are all for general puzpose. Thry Ind￿￿e att amount attributsble to thc Unrealiscd gBinslhs2e8 of tbe investtwit wtfolio broutht about by the revalualion or the investments each year. At l November 2023 Surpiuslldeficitl for the y Transfer of revaluation 1.603.335 13.301 656 1.603.991 13.301 At 31 October 2024 13- ABBEYFtE A COMPANY FINANCLIL ￿ATEm FOR THE Y&4R ENDED 31 OCTOBER 2024 COIITINUED 16. COrmNGEf￿ LL4BILrriES There no contSngent ]iabikntie¥ for the ended 31 October 2024 (2023.Nill. 17. CApfTAL COMMrrMErfps As at 31 October 2024 the oocicty had contracted to purchase ki¢theA equipment for £12,000. Of this. £6.000 had already been paid at thi8 date. 12023-Nill. 18. RELATED PARTY DISCLOSURES There were no related paxty trans￿￿1 for year ethd 31 October 2024 (2023.nonel. 14-