2023-09-30-accounts

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 of	Gash Flows				12
Notes to the Financial		Statements			13-26

performance	metrics detailed in the standard fo	metrics detailed in the standard fo	r Value f	or Money.	or Money.
The society	is required to report on the following		seven	performance		metrics as	follows:
Metric No.	Iletric					2023		2022
	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 (%)					F19.8		819.6
	Operating margin —overall (%)						5%	(13)%
	Return on capital employed (%)						3%	(8)%
The Value for Money performance indicators		are reviewed			by the	management	team on a quartile		basis	in
order to assess the progress ofthe society.

					2023	2022
				Note	E	E
Turnover					993,360	826,217
Operating expenditure					(946,321)	(931,366)
Gross surplus I(deficit)					47,039	(105,149)
Other operating income					11,733	16,183
Operating surplus	I(deficit)				58,772	(88,966)
Income from fixed	asset investments				604	672
Interest receivable	and similar	income			1,388	35
(Loss)/Gain on fair	value movement		of		877	(1,404)
investments
Surplus /(deficit)	on ordinary	activities
for the year before tax					61,641	(89,663)
Total comprehensive surplus		I(deficit)
for the year					61,641	(89,663)

						2023	2022
					Note		E
Fixed assets
Tangible fixed assets					11	1,216,233	1,243,076
Investments					12	10,642	9,765
						1,226,875	1,252,841
Current assets
Debtors					13	24,367	11,772
Investments					14	226,258	134,894
Cash at bank and	in	hand				10,760	28,141
						261,385	174,807
Creditors: amounts		falling		due within one year	15	(101,210)	(102,239}
Net current assets						160,175	72,568
Total assets less	current			liabilities		1,387,050	1,325,409
Total net assets						1,387,050	1,325,409
Reserves
Guarantees					17
Income and expenditure			reserve		18	699,348	637,707
Revaluation reserve					18	687,695	687,695
Total Reserves						1,387,050	1,325,409

			Guarantees	Income and	Revaluation	Total
				expenditure	reserve
				reserve
				E
At 1 October 2021				727,370	687,695	1,415,072
Surplus	for the year			(89,663)		(89,663)
At 30September		2022
and 1 October 2022				637,707	687,695	1,325,409
				61,641		61,641
Surplus	for the year
At 30September		2023		699,348	687,695	1,387,050

				2023	2022
			Note		E
Cash flow from operating	activities		19	71,991	(59,727)
Net cash flow from operating activities				71,991	(59,727)
Cash flow from investing	activities
Payments to acquire tangibIe		fixed assets
Interest received				1,388	35
Dividends received				604	672
Net cash flow from investing		activities		1,992	707
Cash flow from financing	activities
Net cash flow from financing		activities
Net increase I(decrease)	in	cash and cash equivalents		73,983	(59,020)
Cash and cash equivalents		at 1 October 2022		163,035	222,055
Cash and cash equivalents		at 30September 2023		237,018	163,035
Cash and cash equivalents		consists of:
Cash at bank and in hand				10,760	28,141
Short term deposits			14	226,258	134,894
Cash and cash equivalents	at 30September 2023			237,018	163,035

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

				2023	2022
		Turnover	Operating	Operating	Operating
			Expenditure	surplus	deficit
				E	E
Other social housing	activities:
Charges for rental and support		205,200	(217,663)	(12,463)	(15,978)
services
Care home services		788,160	(728,658)	59,502	(89,171)
Total		993,360	(946,321)	47,039	(105,149)

			2023	2022
			E
Turnover
Rent receivable Void losses			1,077,366 ~84,006	970,078 ~143,861
Turnover			993,360	826,217
Operating expenditure
Management expenses
Insurance			9,285	9,264
Telephone			1,848	2,288
Registration fees			2,388	2,388
Membership fee			8,692	9,329
Audit fee			8,122	7,600
Professional fees			1,910	13,592
Promotional advertising			2,277	1,580
Stationery and postage			1,024	1,353
Bank charges			536	353
Finance office salary			26,605	26,515
			62,687	74,262
Repairs and maintenance			29,228	22,618
Service costs
Care and catering:
Employee costs			701,910	687,676
Recruitment		fees	2,178	2,641
Agency	fees
Food &	cleaning costs		50,168	43,223
Staff training			4,970	928
Incontinence		& health supplies	13,348	14,354
Garden maintenance			5,339	7,820
Council tax &water	rates		10,867	10,941
Heating and Lighting			24,348	23,306
Sundry			7,010	9,665
Motor			114	203
Equipment hire			7,311	6,534
Depreciation of housing		properties	23,683	23,683
Depreciation of equipment			3,160	3,512
			854,406	834,486
Operating expenditure
			946,321	931,366
Operating surplus	I(deficit)		47,039	~105,149

4	Accomm	odation owne	d	a	nd	in	ma	nagem	ent
														Number of		Number of
															units at	units at
														30	September	30September
															2023	2022
	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
															2023	2022
															F	E
	Bank interest receivable														1,388
6	Surplus	/ (deficit) on ordinary				activities
	Surplus /	(deficit) on ordinary			activities is stated after charging								/ (crediting):
															2023	2022
															F	E
	Auditor's	remuneration	(including				expenses		and	benefits		in kind)		for
	audit														4,950	4,635
	Auditor's	remuneration	(including				expenses		and						3,172	2,965
	benefits	in kind) for non-audit
	Depreciation oftangible			fixed		assets									26,843	27,374
	Gain / (loss) on fair value			movement				of investments							877	(1,404)
7	Auditor's	remuneration
															2023	2022
																F
	Fees payable to the Abbeyfield					Weymouth			Society Limited(The)'s					auditor
	for the audit ofthe Abbeyfield					Society Limited's				annual	accounts.
															4,950	4,635

he avera	ge	month	ly number ofemployees, during th	e year was as follows:
				2023	2022
				Number	Number
Management		and	administration
Housing,	support		and care		33
				40	38

he agg	regate remuneration ofsuch employees	was as follows:
		2023	2022
		E	E
Wages	and salaries	676,227	660,136
Social	security	42,040	43,443
Other	pension costs	10,248	10,612
		728,515	714,191

11 Tangible fi	xed ass	ets —Free	hold land a	nd buildings
				Walls &		Mechanical &	Intermal
		Land	Structure	Ceilings	Roofs	El ac trieste	Fixtures &	Total
							Outbuilding
Cost or valuation:
At 1 Octobe[ 2022		600,000	64,000	2,000	6,000	288,000	144,936	1,400,936
At 30 September	2023	600,000	64,000	228,000	76,000	288,000	144,936	1,400,936
Depreciation:
At October 2022			5,120	18,240	12,160	76,720	77,224	189,464
Charge for the year			640	2,280	1,520	9,590	9,653	23,683
At 30September	2023		5,760	20,520	13,680	86,310	86,877	213,147
Net book value:
At 30September	2Q23					201,690	58,059	1,187,789
At 3Q September	2022	600,000	58,880	209,760	63,840	211,280	67,712	1,211,472

				2023	2022
Analysis	ofthe land and buildings	valued at the date oftransition	to
FRS102	using the deemed cost	exemption:
				E	E
Historical	cost equivalent			752,369	752,369
Revaluation/depreciation				435,420	459,103
Net book	value			1,187,789	1,211,472

Cost or valuation:
At 1 October 2022		100,003
Additions during the year
At 30 September 2023
		100,003
Depreciation:
At 1 October 2022		68,399
Charge for the year		3,160
At 30 September 2023		71,559
Net book value:
At 30 September 2023		28,444
At 30September 2022		31,604
Tangible fixed assets —Total
	Land &	Fixtures
	buildings	fittings 8	Total
		equipment
Cost or valuation:
At 1 October 2022	1,400,936	100,003	1,500,939
Additions in the year
At 30 September 2023	1,400,936	100,003	1,500,939
At October 2022	189,464	68,399	257,863
Charge for the year	23,683	3,160	26,843
At 30September 2023	213,147	71,559	284,706
Net book value:
At 30 September 2023	1,187,789	28,444	1,216,233
At 30September 2022	1,211,472	31,604	1,243,076

Fixed asset investments
	Listed
	Investments
	Total
	E
Cost
At 1 October 2022	60,903
At 30September 2023	60,903
Impairment
At 1 October 2022	51,138
Written back in the year	(877)
At 30September 2023	50,261
Carrying amount:
At 30September 2023	10,642
At 30 September 2022	9,765
Historical cost
At 30September 2023	60,903
At 30September 2022	60,903

Debtors
		2023	2022
		E	E
Trade debtors		8,423	7,604
Prepayments	and accrued income	15,944	4,168
		24,367	11,772

2023	2022
F	E
226,258	134,894

reditors: amounts fa	lling due within one year
		2023	2022
Trade creditors		12,697	6,731
Other tax and social security		12,613	12,717
Other creditors		58,708	58,708
Accruals and deferred	income	17,192	24,083
		101,210	102,239

At	1 October 2022
At	30 September 2023

conciliati	on ofoperating Surpl	us / (deficit) to cash flow fro	m operating activities
			2023	2022
			E	E
Surplus	/ (deficit) for the year		61,641	(89,663)
Interest received			(1,388)	(35)
Dividends	received		(604)	(672)
Losses /	(Gains) on investments		(877)	1,404
Depreciation oftangible fixed assets			26,843	27,195
Decrease	/ (Increase) in trade and other debtors		(12,595)	7,863
(Decrease) / increase in trade and other creditors			(1,029)	(5,819)
Net cash	flow from operating	activities	71,991	(59,727)