|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|
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|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.|||||||||||
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||||||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)|
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|||||||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|
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||||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|
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|||||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|
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|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|||
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|||||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)|
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||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|Debtors||||
|---|---|---|---|
|||2023|2022|
|||E|E|
|Trade debtors||8,423|7,604|
|Prepayments|and accrued income|15,944|4,168|
|||24,367|11,772|
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|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|
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|At|1 October
2022|
|---|---|
|At|30 September 2023|
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|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)|
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