The Abbeyfield (Streatham) Society Ltd
Report and Accounts Year ended 31 March 2025
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Rev John Abioye Ademola Ojo Dr Hannah May-Miller Keith Roberts Raymond Smith Pierre Okusi (appointed June 2025)
Company Secretary
Dr Hannah May-Miller
Key Staff Governing Document
Monika Majchrzak
Memorandum and Articles of Association dated 28 January 1965 amended 27 April 2004
Company Registration Number 00835742 Charity Registration Number 243585
Social Housing Regulator Number H3480 Registered Office 28 Conyers Road Streatham London SW16 6LT
Registered Office
Independent Examiner
Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB
| Contents | Page |
|---|---|
| Company Information | 1 |
| Trustees' Annual Report | 2-5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Accounts | 9-15 |
| Detailed Statement of Financial Activities with Comparatives | 16 |
Page 1
THE ABBEYFIELD (STREATHAM) SOCIETY LTD (REGISTERED NUMBER:00835742) (A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees (Executive Committee), who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 MARCH 2025.. The trustees have adopted the provisions of Accounting and Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Society is a Registered Social Landlord and, as such, its principal activity is to provide accommodation for vulnerable people over 55 years old, in accordance with the aims and principles of the Abbeyfield Society Limited. The Activity falls wholly within hostel housing activities as defined in the Housing Act 1996.
Public Benefit
All our charitable activities focus on the provision of housing to vulnerable people over 55 years old. We strive to create a sense of community and belonging, ensuring that our residents can live independently while enjoying companionship and support.
Throughout the financial year 2024 to 2025, we have continued to operate wholly within our principle aims, providing affordable accommodation for older adults, and supporting these individuals to live with varying degrees of support within a small community. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Society can accommodate up to seven residents; however, for some time, two rooms have been let together as a two-bedroom accommodation, and this arrangement continues. During the year, two new residents moved in, bringing the total number of residents to five by the end of March 2025, with only one room remaining vacant. This room has since been refurbished, including repainting and new carpeting, and is now ready for occupation. The Executive Committee remains committed to achieving full occupancy.
Property Maintenance, Health & Safety and Compliance Activities
Throughout the year, the charity undertook a comprehensive programme of maintenance, health and safety, and compliance work to ensure that the premises remained safe, well-maintained, and conducive to residents’ wellbeing. In May 2024, the upper front door lock was replaced with a mortice latch to improve accessibility and ease the opening and closing of the doors for residents. Boundary tree maintenance was completed during May and June, followed by the installation of improved lighting within the lift machinery room. Over the summer period, the garden pond was fully cleaned, a new pump installed, and lilies added, enhancing the appearance of the outdoor environment. In July, the manhole on the designated evacuation route was repaired, and the fire safety service contract was transferred from Fire Systems Ltd to All Sure Systems, who subsequently upgraded the fire panel and associated systems. Roof repair works were finalised in October, and in November the emergency lighting in the corridor and the utility/laundry room lighting were replaced. In January 2025, Thames Water conducted E-Coli testing, which returned clear results, and a full Legionella reassessment was undertaken, with the required remedial works completed in February. In March 2025, the scheduled Fire Risk Assessment, Fire Door Risk Assessment, General Health and Safety Risk Assessment, and Portable Appliance Testing were all completed. Additional operational tasks carried out during March included the replacement of an out-of-date
Page 2
CO₂ extinguisher, the hire of a skip to support clearance works, the commencement of internal painting, and plumbing repairs, including tap replacements and the repair of a leaking toilet.
FINANCIAL REVIEW
Principle funding sources
The charity derives income from residents' rents, which are supplemented by housing benefits.
Operating Review
The financial results for the year are set out in the Statements of Financial Activities. The financial position at the year end is shown in the balance sheet.
It is the aim of the Trustees to ensure that the total annual cost of the services provided to our residents in our rental accommodation is affordable to a wide range of individuals, especially those on state benefits. The Executive Committee reviews our financial position regularly in our Executive Committee meetings, with detailed reviews against our budget quarterly. We seek to set affordable rents, aiming to balance our income and expenditure, so that the charity can continue to deliver its charitable aims for the public benefit.
The Society managed its working capital and cash flow to ensure that its financial commitments were met during the year. Our balance sheet continues to be strong with significant property assets and good cash and investment reserves. The Society holds sufficient funds to meet day to day requirements and has no debt.
Upon review of our financial position, the trustees note that while the charity experienced significant resident turnover and periods of vacancy in prior years, the position strengthened considerably from May 2024 onwards. During the year, five rooms were successfully let, with only one room remaining vacant, resulting in an increase in income for the 2024–2025 period due to improved occupancy levels. In light of this, the trustees are satisfied that the charity continues to maintain sufficient income and reserves to sustain its operations and deliver its planned charitable activities for the foreseeable future.
Reserves Policy
The Executive Committee's policy is to retain such reserves as in the trustees’ judgment are adequate to cover for contingencies in meeting essential services. These include:
-
Day-to-day contingency for any large unforeseen items
-
Funding for development projects
-
Major repairs and renovation expenditures needed to maintain the Society’s property.
We additionally aim to maintain sufficient reserves to cover 6 months running costs to protect our residents from the risk of sudden closure. The Executive Committee monitors and reviews our reserves policy from time to time, and the Trustees recognise that a review of our policy is now due. We also acknowledge that our current reserves are in excess of our requirements; this was due to the previous sale of one property that was running at a loss. The trustees have been actively exploring options to use the excess reserves to extend the services of the Society for its residents and people over 55 years old in the local area, in line with our charitable objectives for the public benefit.
Housing Properties
In October 2025, the Executive Committee had the Property valued by Foxtons. It was valued at £1,200,000.
Going Concern
The Executive Committee has a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis to prepare financial statements.
FUTURE PLANS
The charity will continue to seek full occupancy and attempt to recruit more Trustees to assist in taking it forward utilising retained funds for its charitable purposes.
Page 3
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Society is a Company Limited by guarantee, a Registered Social Landlord and a registered charity governed by its memorandum and articles of association. The Society is registered under the Companies Act 2006 and the Housing Act 1996. In the event of the company being wound up. Members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
Potential new trustees are recruited usually by way of approach made by existing trustees. The trustees of the Society receive no remuneration and so it is important that potential trustees have some interest to commit to the Society. Following a formal screening process and subject to DBS checks, the applicant is formally elected at a board meeting or typically at an AGM.
Organisational structure
The Directors of the Company are also charity trustees for the purposes of charity law and under the company’s articles are known as members of the Executive Committee.
In accordance with the Articles of Association of the Society, one third of the Executive Committee members retire by rotation. Raymond Smith, being eligible, offers himself for re-election at the forthcoming Annual General Meeting.
Induction and training of new trustees
New trustees are assisted throughout by the existing members and supported by the national Abbeyfield Society until such time as they are fully confident in carrying out their functions within the charity.
Related Parties
Several trustees have involvement with other charitable boards. During the year, transactions occurred that are required to be disclosed as related party transactions. Specifically, a payment of £33.60 was made to Raymond Smith (trustee) for covering a housekeeping shift, and with the Executive Committee’s approval, a relative of the House Manager was contracted to carry out minor maintenance work (installing new grab rails for residents, and fitting new emergency and pendant lights), receiving £412 in remuneration.
Risk management
The main areas of risk to the charity are financial, reputational and physical. The trustees monitor and undertake risk assessments to identify physical risks such as faulty wiring, which could pose a risk to residents and remedy potential problems as appropriate.
Staff are subject to background and DBS checks and are trained in Health and Safety matters.
Financial risk is monitored and mitigated by the maintenance of budgeting and financial controls, accurate accounting records and investments are made with the aim maximum yield whilst minimising risk.
Responsibilities of trustees under company law
The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgments and estimates that are reasonable and prudent;
-
state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on a going concern basis unless it is inappropriate to
Page 4
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report, which has been prepared in accordance with the provisions of the Companies Act 2006 relating to small companies, was approved by the trustees and signed on their behalf by:
Hannah May-Miller
Hannah May-Miller (Dec 11, 2025 10:25:25 GMT)
Dr Hannah May-Miller Company Secretary
Date: Dec 11, 2025
Page 5
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025 on pages 7 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 9 to 10.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Crispin
Sarah Crispin (Dec 11, 2025 11:16:37 GMT)
Sarah Crispin ACA Stewardship 1 Lamb's Passage London EC1Y 8AB
Date: Dec 11, 2025
Page 6
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Note 3 5 6 15 INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities Investments Total income and endowments EXPENDITURE ON: Charitable activities Raising funds Total expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 15 |
Unrestricted Funds £ 2 123,275 24,020 147,298 137,013 13,147 150,160 12,777 9,915 - 9,915 (175,000) (165,085) 2,552,739 2,387,654 |
Restricted Funds £ - - - - - - - - - - - - - - - |
Total Funds 2025 £ 2 123,275 24,020 147,298 137,013 13,147 150,160 12,777 9,915 - 9,915 (175,000) (165,085) 2,552,739 2,387,654 |
Total Funds 2024 £ 4 81,103 19,284 |
|---|---|---|---|---|
| 100,391 | ||||
| 130,117 14,878 |
||||
| 144,994 | ||||
| 49,269 | ||||
| 4,666 - |
||||
| 4,666 50,000 |
||||
| 54,666 2,498,073 |
||||
| 2,552,739 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.
The notes on page 9-15 form part of these accounts.
Page 7
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
BALANCE SHEET
AS AT 31 MARCH 2025
| Note FIXED ASSETS Tangible assets 8 Investments 9 CURRENT ASSETS Debtors 10 Cash at bank and in hand 11 CREDITORS: Amounts falling due within one year 12 Net current assets / (liabilities) TOTAL NET ASSETS FUND BALANCES 15 Unrestricted Funds General funds Designated funds Revaluation reserve Restricted Funds |
Unrestricted Funds £ 1,202,554 1,144,879 2,347,433 2,543 42,430 44,973 (4,753) 40,220 2,387,654 1,269,263 175,138 943,252 2,387,654 - 2,387,654 |
Restricted Funds £ - - - - - - - - - - - - - - |
Total Funds 2025 £ 1,202,554 1,144,879 2,347,433 2,543 42,430 44,973 (4,753) 40,220 2,387,654 1,269,263 175,138 943,252 2,387,654 - 2,387,654 |
Total Funds 2024 £ 1,380,495 1,121,228 |
|---|---|---|---|---|
| 2,501,723 | ||||
| 5,994 49,022 |
||||
| 55,016 (4,000) |
||||
| 51,016 | ||||
| 2,552,740 | ||||
| 1,272,126 175,138 1,105,475 |
||||
| 2,552,739 - |
||||
| 2,552,739 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.
-
The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its net income or expenditure for each financial 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 to the charitable company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
The financial statements were approved by the Board of Directors and were signed on its behalf by:
Hannah May-Miller Hannah May-Miller (Dec 11, 2025 10:25:25 GMT) Dr Hannah May-Miller
Dec 11, 2025 Date: _______
Company number: 00835742
Charity number: 243585
The notes on page 9-15 form part of these accounts.
Page 8
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1 Statutory Information
The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page.
2 Accounting Policies
These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities.
These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.
The principles adopted in the preparation of the financial statements are set out below.
a) Going concern
The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.
b) Income
Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.
Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It consists of rental income received from residents.
Investment income represents income generated by the charity's assets and includes dividend income from a managed investment portfolio. In previous years these were netted off the gains/losses on revaluation of investments.
c) Expenditure
Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure on raising funds comprises the costs incurred on managing investments. In previous years these were netted off the gains/losses on revaluation of investments.
Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.
d) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
e) Tangible fixed assets
Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:
Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Is not depreciated (because it is held at current valuation) Equipment & furniture Over 4 years
The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.
Page 9
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
2 Accounting Policies (cont.)
f) Investments
Fixed asset investments are held to generate income. The charity holds listed investments as part of a managed portfolio and these are valued at their market value (fair value) at the balance sheet date.
g) Pension scheme arrangements
The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.
h) Taxation
The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.
i) Financial instruments
The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).
j) Exemption from preparing a cashflow statement
The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.
k) Critical accounting estimates and areas of judgement
-
ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:
-
i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current i t
3 Income from charitable activities
| me from charitable activities | ||
|---|---|---|
| Room rental income | 2025 £ 123,275 123,275 |
2024 £ 81,103 |
| 81,103 |
4 Investment income
| Dividend income ritable expenditure ts incurred directly on specific activities Salaries, travel and expenses Food & household Telephone and utilities Maintenance Other direct costs ts incurred on support & administration Governance costs Independent examiner's fee Office & support costs Depreciation of tangible fixed assets Insurance l expenditure |
2025 £ 24,020 24,020 2025 £ 68,575 10,445 15,307 26,061 2,806 123,193 2,070 2,070 4,853 2,941 3,956 13,820 137,013 |
2024 £ 19,284 |
|---|---|---|
| 19,284 | ||
| 2024 £ 64,913 11,592 10,315 29,797 1,650 |
||
| 118,268 | ||
| 1,950 | ||
| 1,950 3,248 2,795 3,856 |
||
| 11,849 | ||
| 130,117 |
- 5 Charitable expenditure
a Costs incurred directly on specific activities
b Costs incurred on support & administration
Total expenditure
Page 10
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
6 Cost of raising funds
| Investment adviser charges Investment & service fees |
2025 £ 1,380 11,767 13,147 |
2024 £ 2,668 12,210 |
|---|---|---|
| 14,878 |
7 Analysis of staff costs, the cost of key management personnel and trustee remuneration
The average monthly number of employees during the year was 6 (2024: 5). Most of the charity's activities are carried out by volunteers.
No staff received salaries at a rate of more than £60,000 per annum.
The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were £21,213.
8 Tangible fixed assets
| Valuation At 1 April 2024 Additions Gains / (losses) on revaluation Disposals At 31 March 2025 Accumulated depreciation At 1 April 2024 Charge for the year Eliminated on disposal At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 |
Freehold Property £ 1,375,000 - (175,000) - 1,200,000 - - - - 1,200,000 1,375,000 |
Fixtures, fittings and equipment £ 114,717 - - (555) 114,162 109,222 2,941 (555) 111,608 2,554 5,495 |
Total 2025 £ 1,489,717 - (175,000) (555) |
|---|---|---|---|
| 1,314,162 | |||
| 109,222 2,941 (555) |
|||
| 111,608 | |||
| 1,202,554 | |||
| 1,380,495 |
The freehold property was valued at £1,200,000 in 2025 by an independent qualified valuer at open market value assuming vacant possession. If the freehold property had not been revalued, its carrying value at historical cost would have been £393,568 (2023: £393,568).
There is a covenant on the property that states that if the house were to be sold, the money would go to the national Abbeyfield Society. While the charity continues to operate on a going concern basis, the property is considered to be part of the assets of the charity.
9 Fixed asset investments
| Cost or fair value brought forward Purchases during the year Disposals during the year Change in value of investments Cost or fair value carried forward |
Listed Investments 1,121,228 11,572 (699) 12,777 1,144,879 |
2025 £ 1,121,228 11,572 (699) 12,777 1,144,879 |
2024 £ 1,067,552 7,075 (2,668) 49,269 |
|---|---|---|---|
| 1,121,228 |
Page 11
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
10 Debtors
| Falling due within one year: Trade debtors Other debtors Prepayments and accrued income h at Bank and in Hand Cash at bank with immediate access Petty cash |
2025 £ - 2,543 2,543 2025 £ 42,390 41 42,430 |
2024 £ 146 3,523 2,325 |
|---|---|---|
| 5,994 | ||
| 2024 £ 48,824 198 |
||
| 49,022 |
11 Cash at Bank and in Hand
12 Creditors: liabilities falling due within one year
| itors: liabilities falling due within one year | ||
|---|---|---|
| Trade creditors Other creditors Accruals |
2025 £ 186 2,498 2,069 4,753 |
2024 £ 815 1,236 1,949 |
| 4,000 |
13 Deferred income
Deferred income comprises the following:
| Amount released to income Balance at the beginning of the reporting period Balance at the end of the reporting period |
Rents in advance - - - |
Local authority grants - - - |
2025 £ - - - |
2024 £ 2,309 (2,309) |
|---|---|---|---|---|
| 0 |
14 Pension commitments
During the year employer’s pension contributions totalling £2,760 (2024: £2,795) were payable to defined contribution personal pension schemes.
Page 12
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
15 Funds
During the year the movements in the charity's funds were as follows:
| Designated Funds Revenue reserve fund Repairs & maintenance reserve fund General Unrestricted Funds General Revaluation Reserve Total Unrestricted Funds Aggregate of funds |
Opening balance 2025 £ 100,378 74,760 175,138 1,272,126 1,105,475 2,552,739 2,552,739 |
Incoming resources 2025 £ - - - 147,298 - 147,298 147,298 |
Outgoing resources 2025 £ - - - (150,160) - (150,160) (150,160) |
Transfers in the year 2025 £ - - - - - - - |
Gains and losses 2025 £ - - - - (162,223) (162,223) (162,223) |
Closing balance 2025 £ 100,378 74,760 |
|---|---|---|---|---|---|---|
| 175,138 1,269,264 943,252 |
||||||
| 2,387,654 | ||||||
| 2,387,654 |
There were no restricted funds during 2024.
Analysis of net assets by fund
The assets and liabilities of the various funds were as follows:
| Tangible fixed assets Fixed asset investments Debtors Cash at bank and in hand Creditors falling due within one year |
General Revaluation Designated funds reserve funds £ £ £ 383,345 819,209 - 845,698 124,043 175,138 2,543 - - 42,430 - - (4,753) - - 1,269,263 943,252 175,138 Unrestricted Funds |
Restricted funds £ - - - - - - |
2025 £ 1,202,554 1,144,879 2,543 42,430 (4,753) |
|---|---|---|---|
| 2,387,654 |
Page 13
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
15 Funds (cont.)
In the previous year the movements in the charity's funds were as follows:
| Designated Funds Revenue reserve fund Repairs & maintenance reserve fund General Unrestricted Funds General Revaluation Reserve Total Unrestricted Funds Aggregate of funds |
Opening balance 2024 £ 100,378 74,760 175,138 1,316,729 1,006,206 2,498,073 2,498,073 |
Incoming resources 2024 £ - - - 100,391 - 100,391 100,391 |
Outgoing resources 2024 £ - - - (144,994) - (144,994) (144,994) |
Transfers in the year 2024 £ - - - - - - - |
Gains and losses 2024 £ - - - - 99,269 99,269 99,269 |
Closing balance 2024 £ 100,378 74,760 |
|---|---|---|---|---|---|---|
| 175,138 1,272,126 1,105,475 |
||||||
| 2,552,739 | ||||||
| 2,552,739 |
There were no restricted funds during 2024.
Analysis of net assets by fund
In the previous year, the assets and liabilities of the various funds were as follows:
| Tangible fixed assets Fixed asset investments Debtors Cash at bank and in hand Creditors falling due within one year |
General Revaluation Designated funds reserve funds £ £ £ 399,063 981,432 - 822,047 124,043 175,138 5,994 - - 49,022 - - (4,000) - - 1,272,126 1,105,475 175,138 Unrestricted Funds |
Restricted funds £ - - - - - - |
2024 £ 1,380,495 1,121,228 5,994 49,022 (4,000) |
|---|---|---|---|
| 2,552,739 |
Designated Funds
The Revenue reserves fund is to ensure that the charity can continue to operated even if occupancy rates fall below a breakeven level.
The Repairs and maintenance fund is set aside to ensure that the trustees' are able to meet their maintenance obligations and to ensure that accommodation is maintained at a standard to fulfil all legal rquirements.
Restricted Funds
The Social Housing grant was to further the cause of providing care to the vulnerable elderly. As this is the sole charitable activity of the charity, the fund was transferred to unrestricted during the previous year and considered to have been spent.
Page 14
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
16 Transactions with related parties
During the year the charity also made the following payments to, or for, related parties:
-
a) R Smith who is a trustee was paid £33.60 (2024: £126) for covering a housekeeping shift.
-
b) K Mroz, who is closely related to M Majchrzak , who is a member of key management, received payments totalling £412 (2024: £6,630) for providing painting and decorating services to the charity.
17 Members
Each member of the company commits to contribute if the charity is wound up an amount of £1.
Page 15
THE ABBEYFIELD (STREATHAM) SOCIETY LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES
FOR THE YEAR ENDED 31 MARCH 2025
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities 3 Investments 4 Total income and endowments EXPENDITURE ON: Charitable activities: 5 Raising funds 6 Total Expenditure Net gains/(losses) on investments Net income/(expenditure) Transfers between funds 15 Other recognised gains/(losses): Gains/(losses) on revaluation of fixed assets Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 15 |
General Designated 2025 2025 £ £ 2 - 123,275 - 24,020 - 147,298 - 137,013 - 13,147 - 150,160 - 12,777 - 9,915 - - - 9,915 - (175,000) - (165,085) - 2,377,601 175,138 2,212,516 175,138 Unrestricted funds |
Restricted 2025 £ - - - - - - - - - - - - - - - |
Total 2025 £ 2 123,275 24,020 147,298 137,013 13,147 150,160 12,777 9,915 - 9,915 (175,000) (165,085) 2,552,739 2,387,654 |
General Designated 2024 2024 £ £ 4 - 81,103 - 19,284 - 100,391 - 130,117 - 14,878 - 144,994 - 49,269 - 4,666 - - - 4,666 - 50,000 - 54,666 - 2,322,935 175,138 2,377,601 175,138 Unrestricted funds |
Restricted 2024 £ - - - - - - - - - - - - - - - |
Total 2024 £ 4 81,103 19,284 100,391 130,117 14,878 144,994 49,269 4,666 - 4,666 50,000 54,666 2,498,073 2,552,739 |
|||
|---|---|---|---|---|---|---|---|---|---|
Page 16