2021-09-30-accounts - The Abbeyfield (Weymouth) Society Limited

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Contents				Page
Officers and advisers	information		page
Board Report				3-5
Independent Auditor's	Report			6-8
Statement of Comprehensive		Income
Balance Sheet				10
Statement of Changes	in Reserves
Statement ofCash Flows
Notes to the Financial	Statements			13-26

The society	is required to report on the following	is required to report on the following	seven	performance	metrics as follows:
Metric No.		Metric			2021	2020
	Reinvestment (%)				0%		0%
	New supply delivered	(%)
	New supply delivered	(Social housing) (%)			0%		0%
	New supply delivered	(Non-social	housing)	(%)	0%		0%
	Gearing (%)				0%		0%
	EBITDA MRI interest	cover (%)			0%		0%
	Headline social cost per unit (%)				621.4		F20.3k
	Operating margin —overall (%)				(24)%		(7)%
	Retuln on capital employed (%)				(12)%		(4)%

					2021	2020
				Note	E	E
Turnover					725,286	807,197
Operating expenditure					(901,326)	(863,799)
Gross surplus I(deficit)					(176,040)	(56,602)
Other operating income					40,812	39,004
Operating surplus	I(deficit)				(135,228)	(17,598)
Income from fixed	asset investments				137
Interest receivable	and similar	income			74	820
(Loss)/Gain on fair	value movement		of		4,848	(6,660)
investments
Surplus / (deficit)	on ordinary	activities
for the year before tax					(130,169)	(23,438)
Total comprehensive surplus		I(deficit)
for the year					(130,169)	(23,438)

						2021	2020
					Note	E	E
Fixed assets
Tangible fixed assets					11	1,270,271	1,290,014
Investments					12	11,169	6,321
						1,281,440	1,296,335
Current assets
Debtors					13	19,635	30,474
Investments					14	205,875	278,700
Cash at bank and	in	hand				16,180	18,556
						241,690	327,730
Creditors: amounts		falling		due within one year	15	(108,058)	(78,824)
Net current assets						133,632	248,906
Total assets less	current			liabilities		1,415,072	1,545,241
Total net assets						1,415,072	1,545,241
Reserves
Guarantees					17
Income and expenditure			reserve		18	727,370	857,539
Revaluation reserve					18	687,695	687,695
Total Reserves						1,415,072	1,545,241

ended 30September	2021
	Guarantees	Income and	Revaluation	Total
		expenditure	reserve
		reserve
At 1 October 2019		880,977	687,695	1,568,679
Surplus for the year		(23,438)		(23,438)
At 30September 2020
and 1 October 2020		857,539	687,695	1,545,241
		(130,169)		(130,169)
Surplus for the year
At 30September 2021		727,370	687,695	1,415,072

			2021	2020
		Note	E	E
Cash flow from operating	activities	19	(67,781)	(11,425)
Net cash flow from operating activities			(67,781)	(11,425)
Cash flow from investing	activities
Payments to acquire tangible fixed assets			(7,631)	(6,760)
Interest received			74	820
Dividends received			137
Net cash flow from investing activities			(7,420)	(5,940)
Cash flow from financing	activities
Net cash flow from financing activities
Net increase I(decrease)	in cash and cash equivalents		(75,201)	(17,365)
Cash and cash equivalents	at 1 October 2020		297,256	314,621
Cash and cash equivalents	at 30September 2021		222,055	297,256
Cash and cash equivalents	consists of:
Cash at bank and in hand			16,180	18,556
Short term deposits		14	205,875	278,700
Cash and cash equivalents	at 30September 2021		222,055	297,256

stimated residual value, ofeach asset on a sys	tematic basis	over its expected useful life.	over its expected useful life.
The society depreciates the major components	of its housing	properties at the following annual		rates:
Structure		1% straight line	basis
Walls and ceilings		1% straight line	basis
Roofs		2% straight line	basis
Mechanical and electrical systems		3.33% straight	line basis
Internal fixtures and outbuildings		6.66% straight	line basis
Other tangible fixed assets:
Fixtures, fittings and equipment		10%reducing balance basis

					2021	2020
			Turnover	Operating	Operating	Operating
				Expenditure	deficit	deficit
				F		E
Other social housing	activities:
Charges for rental and		support	202,377	(235,581)	(33,204)	(32,503)
services
Care home services			522,909	(665,745)	(142,836)	(24,099)
Total			725,286	(901,326)	(176,040)	(56,602)
			17

					2021	2020
					E	E
Turnover
Rent receivable					913,959	882,388
Void losses					~188,673	~75,191
Turnover					725,286	807,197
Operating		expenditure
Management expenses
Insurance					5,848	5,603
Telephone					2,408	2,497
Registration		fees			2,388	2,417
Membership		fee			9,395	9,242
Audit fee					6,250	5,770
Professional		fees				72
Promotional		advertising			1,624	1,362
Stationery	and postage				1,321	1,494
Bank charges					288	337
Finance office salary					24,492	23,973
					54,014	52,767
Repairs and maintenance					20,991	41,806
Service costs
Care and catering:
		Employee costs			685,072	629,634
		Recruitment		fees	435
		Agency	fees
		Food &	cleaning costs		42,716	47,107
		Staff training			948	3,406
		Incontinence		8 health supplies	13,109	7,719
Garden maintenance					6,834	5,467
Council tax		8 water	rates		10,965	11,742
Heating and		Lighting			26,020	22,974
Sundry					7,338	8,622
Motor					224	770
Equipment		hire			5,286	4,838
Depreciation		of housing		properties	23,683	23,683
Depreciation		of equipment			3,691	3,264
					826,321	769,226
Operating	expenditure
					901,326	863,799
Operating	surplus		/ (deficit)		176,040	56,602

4	Accommodation owned		a	nd	in m	an	agemen	t
											Number of		Number of
												units at	units at
											30	September 30September
												2021	2020
	Completed units:
	Care homes providing		personal care under the Care
	Standards Act 2000											18	18
	Supported housing											10	10
												28	28
5	Interest and other similar		income
												2021	2020
	Bank interest receivable											74	820
6	Surplus /(deficit) on ordinary				activities
	Surplus /(deficit) on ordinary			activities			is stated after		charging		/ (crediting):
												2021	2020
												F	E
	Auditor's remuneration	(including				expenses		and benefits		in kind) for
	audit											3,850	3,370
	Auditor's remuneration	(including				expenses		and				2,400	2,400
	benefits in kind) for non-audit
	Depreciation oftangible		fixed		assets							27,374	26,947
	Gain / (loss) on fair value		movement				of investments					4,848	(6,660)
7	Auditor's remuneration
												2021	2020
	Fees payable to the Abbeyfield				(Weymouth)			Society	I imited's		auditor for
	the audit ofthe Abbeyfield			Society		Limited's		annual	accounts.
												3,850	3,370

				2021	2020
				Number	Number
Management		and	administration
Housing,	support		and care	36	36
				41	41

he agg	regate remuneration ofsuch employees	was as follows:
		2021	2020
		E
Wages	and salaries	660,197	605,782
Social	security	39,269	38,539
Other	pension costs	10,098	9,286
		709,564	653,607

11 Tangible fi	xed ass	ets —Freeh	old land a	nd buildings
				Walls &		Mechanical &	Intermal
		Land	Structure	Ceilings	Roofs	Electricals	Fixtures &	Total
							Outbuilding
Cost or valuation:
At 1 October 2020		600,000	64,000	228,000	76,000	288,000	144,936	1,400,936
At 30September	2021					288,000	144,936	1,400,936
Depreciation:
At October 2020			3,840	13,680	9,120	57,540	57,918	142,098
Charge for the year			640	2,280	1,520	9,590	9,653	23,683
At 30September	2021		4,480	15,960	10,640	67,130	67,571	165,781
Net book value:
At 3p September	2p21	600,000	59,520	212,040	65,360	220,870	77,365	1,235,155
At 3p September	2p2p	600,000	60,160	214,320	66,880	230,460	87,018	1,258,838

				2021	2020
Analysis	ofthe land and buildings	valued at the date oftransition	to
FRS102	using the deemed cost	exemption:
Historical	cost equivalent			752,369	752,369
Revaluation/depreciation				482,786	506,469
Net book	value			1,235,155	1,258,838

Tangible fixed assets —(continued)	Tangible fixed assets —(continued)	-other
Fixtures, fittings and equipment
Cost or valuation:
At 1 October 2020				92,372
Additions during	the year			7,631
At 30September	2021
				100,003
Depreciation:
At 1 October 2020				61,196
Charge for the year				3,691
At 30September	2021			64,887
Net book value:
At 30September	2021			35,116
At 30September	2020			31,176
Tangible fixed assets —Total
			Land 8	Fixtures
			buildings	fittings 8	Total
				equipment
Cost or valuation:
At 1 October 2020			1,400,936	92,372	1,493,308
Additions in the year				7,631	7,631
At 30September	2021		1,400,936	100,003	1,500,939
At October 2020			142,098	61,196	203,294
Charge for the year			23,683	3,691	27,374
At 30September	2021		165,781	64,887	230,668
Net book value:
At 30September	2021		1,235,155	35,116	1,270,271
At 30September	2020		1,258,838	31,176	1,290,014
		22

Fixed asset investments
	Listed
	Investments
	Total
	E
Cost
At 1 October 2020	60,903
At 30September 2021	60,903
Impairment
At 1 October 2020	54,582
Written back in the year	(4,848)
At 30September 2021	49,734
Carrying amount:
At 30September 2021	11,169
At 30September 2020	6,321
Historical cost
At 30September 2021	60,903
At 30September 2020	60,903

ebtors
		2021	2020
			P
Trade debtors		16,610	23,074
Prepayments	and accrued income	3,025	7,400
		19,635	30,474

14	Current	asset investments
	Short	term deposits

2021	2020
	F
205,875	278,700

Creditors: amounts fa	lling due within one year
		2021	2020
		E	F
Trade creditors		12,534	6,033
Other tax and social security		9,779	9,427
Other creditors		58,708	58,708
Accruals and deferred	income	27,037	4,656
		108,058	78,824

At	1 October 2020
At	30September 2021

conciliatio	n ofopera	ting Surpl	us I(deficit) to cash flow fro	m operating activities
				2021	2020
				E
Surplus	I(deficit) for the year			(130,169)	(23,438)
Interest received				(74)	(820)
Dividends	received			(137)
Losses /	(Gains) on investments			(4,848)	6,660
Depreciation oftangible fixed assets				27,374	26,947
Decrease	/ (Increase)	in trade and other debtors		10,839	(17,933)
(Decrease) / increase		in trade and other creditors		29,234	(2,841)
Net cash	flow from	operating	activities	(67,781)	(11,425)