2024-03-31-accounts - The Abbeyfield Wrexham Society Ltd

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Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

Financial Statements For the Year Ended 31st March 2024

TRUSTEES

Mrs A W Davies

Mr G Smith

MrsJ Ingram Mrs D Lesbriel

Mrs K Prince

REGISTERED OFFICE Abbeyfield 12 Box Lane Wrexham LL12 8BU

COMPANY NUMBER 00800583

CHARITY NUMBER 246998

Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024

CONTENTS

Report of the Trustees

Independent Examiner's Statement

Statement of Financial Activities

Balance Sheet

Notes to the Accounts

Detailed Statement of Financial Activities

Abbeyfield Wrexham Society Limited

Trustee’s Report

The Trustee’s, who are also directors for the purpose of the Companies Act, present their annual report together with the financial statements of Abbeyfield (Wrexham) Society Limited for the year ended 31 March 2024.

Since the Company qualifies as small under the Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 is not required.

Objectives and Activities

The Society is established for the Public Benefit for the following objectives.
The relief and care of elderly persons of all classes suffering from the disabilities of old age or otherwise in need
The spreading of Christian principles to all human relationships and the application of humanitarian aims to promote the relief of the elderly.
To provide further education in the sphere of voluntary work and similar activities so as to inculcate the principles of good citizenship.
The provision of housing, accommodation or assistance, including providing and maintaining or assisting in providing and maintaining houses and homes, for the relief and care of elderly persons suffering from the disabilities of old age or otherwise being in need.
Such other purposes recognised by British Law as charitable as the Society shall determine from time to time.

In particular, the Trustee’s consider how planned activities will contribute to the aims and objectives set out in this guidance.

The Society is committed to equal access to its services and monitors this commitment by the very strict and fair interview procedure undertaken to ensure that every prospective resident receives due consideration in respect of their application.

Applications for potential residents are interviewed by the Admissions Committee comprising the Admissions Officer, House Chairman and House Manager,

The Trustee’s confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance by the Charity Commission for England and Wales.

Achievement and Performance

The main area of activity has been the provision of 19 units of supported sheltered housing with maintenance activity carried out throughout the period to maintain a high standard of living. After the year end the provision was reduced to 10 units due to the sale of one property and a focus of resources on the one remaining residence.

Principle Funding Sources

The Abbeyfield (Wrexham) Society is financed from current and retained surpluses apart from donations which may be subject to restrictions in use.

The Society’s Executive Committee meets quarterly and is responsible for the strategic decisions and policy of the Charity.

The Society’s financial resources consist of cash and bank deposits, so it has no need to resort to loans or overdraft facilities as it holds cash balances substantially in excess of day to day requirements.

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Structure, Governance and Management

The Company is registered as a Charitable Company limited by guarantee and is constituted under a Memorandum of Association dated 13 April 1964. It is a registered charity, number 246998. The company registered as a Charity on 1 March 1966. The Company was established under a Memorandum of Association which established the objectives of the charitable company, and is governed under its Articles of Association.

Recruitment and Appointment of Trustees

With the exceptions of the Company Secretary and Treasurer, the Directors of the Company are also Charity Trustees for the purposes of charity law under the Company’s Articles are known as Members of the Executive Committee. Under the requirement of the Memorandum and Articles of Association the members of the Executive Committee are elected to serve a period of three years after which they must be re-elected at the next Annual General Meeting.

The Company Secretary/Treasurer holds no interest in the Society and acts as an Executive Officer within the authority delegated by the Executive Committee. Insurance policies indemnify Trustees and the Executive Officer against liability when acting for the company.

New Trustees are provided with briefing documentation when they first join the Society, but training does not just stop at that.

A program of induction and training has been agreed which is enshrined in the volunteers’ section of the Abbeyfield Quality Standard.

Organisational Structure

The Society’s Executive Committee meets quarterly and is responsible for the strategic direction and policy of the charity. At present the Executive Committee has three members from a variety of professional backgrounds relevant to the work of the charity. There are three more shortly joining

the committee. The company Secretary and Treasurer also sit on the Committee but has no voting rights.

House Committees meet every month and the House Chairman’s sub committee also meet regularly and report to the main committee. Day to Day responsibility for the provision of services rests with the House Managers, supported by the Society’s Executive Officer.

Related Parties

The Society is a member of the National Abbeyfield Society, based in St Albans. This Society was founded in 1956 and has societies in 17 countries throughout the world.

The society is also a member of the Abbeyfield Cymru Society Limited, an umbrella organisation representing all Abbeyfield Societies in Wales.

Risks

The Executive Committee members have overall responsibility for ensuring that the Society has appropriate systems of control, financial and otherwise. The systems of financial control are designed to provide reasonable, but not absolute, assurance against material mis-statements of loss. They include an annual budget, approved by the Executive Committee, regular quarterly review of actual results and variances from budget, and delegations of authority and segregation of duties as far as possible given present staffing levels.

The Executive Committee will continue to monitor risks and set up policies to mitigate them.

This report was approved by the Trustees of the Charity on 13[th] November 2024 and signed on its behalf by

Graham Smith Trustee

Abbeyfield (Wrexham) Society Limited Statement of Trustees Responsibilities

The Trustees (who are also the Directors of Abbeyfield (Wrexham) Society Limited for the purposes of company law are responsible for preparing the trustees report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice) and applicable law and regulations.

Company Law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and far view of the state of affairs of the charitable company and of its incoming resources, including its income and expenditure, for that period. 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 judgements and estimates that are reasonable and prudent
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and 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.

Approved by the trustees of the charity on 13[th ] November 2024 and signed on its behalf by

Graham Smith Trustee

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Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MARCH 2024 Unrestricted Restricted 2024 2023 Funds Funds Total Total £ £ £ £ INCOME Income from Generated Funds Donations and legacies 0 0 150 Income from Investments 6,663 6,663 1,021 Income from charitable activities 160,901 160,901 140,179 Other Income 3,257 3,257 133 Total Income and endowments 170,821 0 170,821 141,483 EXPENSES Costs of generating funds Expenditure on Charitable activities 136,275 136,275 135,303 Total Expenses 136,275 0 136,275 135,303 NET INCOME 34,546 0 34,546 6,180 Gaines/(losses) on sale of fixed assets 0 0 465,474 Net movement in funds: Net income for the year 34,546 0 34,546 6,180 Total funds brought forward Net Funds carried forward 34,546 0 34,546 471,654

This statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited BALANCE SHEET AS AT 31st MARCH 2024 Notes 2024 2023 £ £ FIXED ASSETS Tangible assets 3 64,987 46,961 CURRENT ASSETS Debtors (amounts falling due within 1 year) 4 2,378 6,176 Cash at bank and in hand 599,365 580,070 601,743 586,246 CREDITORS (amounts falling due 5 11,825 12,848 within 1 year) NET CURRENT ASSETS 589,918 573,399 TOTAL ASSETS LESS CURRENT LIABILITIES 654,905 620,360 CAPITAL AND RESERVES Unrestricted funds 7 General fund 632,667 598,122 Designated funds 6,641 6,641 Restricted funds 8 15,597 15,597 654,905 620,360

FIXED ASSETS Tangible assets

CREDITORS (amounts falling due within 1 year)

TOTAL ASSETS LESS CURRENT LIABILITIES

For the year ending 31st March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provision applicable to companies subject to the small companies regime.

Approved by the board of trustees on 19th September 2024 and signed on their behalf by

Mr G Smith

Trustee

Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024

1 ACCOUNTING POLICIES

1a. Basis of Accounting

The accounts have been prepared under the historical cost convention.

The accounts have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.

1b. Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1c. Resources Expended

Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributable to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1d. Allocation and Apportionment of Costs

All costs relate to the single activity of the charitable company and are recognised accordingly.

le Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Designated funds are funds set aside by the trustees out of unrestricted general funds for the specific future purposes or projects.

Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

1f Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land and Buildings straight line 2% on non SHG assisted cost%

Long Leasehold Properties straight line over life of lease %

Short Leasehold Properties

straight line over life of lease %

Fixtures and Fittings

straight line over useful lives of between 5 and 11 years.

1g Pension Costs

The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the funds in respect of the year.

1h Turnover Turnover represents the invoiced value of goods and services supplier by the company, net of value added tax and trade discounts.

1i GOING CONCERN

The Trustees have reviewed the financial position and note that as at 31 March 2024 the Society had net current assets of £589,918 and Capital and Reserves of £654,905. The Society made a trading profit in the year ended 31st March 24 of £34,546.

This gives the Trustees every belief that the Society can operate effectively and meet its liabilities as a going concern Therefore, the accounts have been prepared on a going concern basis.

2 PENSION CONTRIBUTIONS

Pension contributions

2024 2023 £ £ 484 399 484 399

Registered number - 00800583 Charity number - 246998

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Abbeyfield Wrexham Society Limited
3 TANGIBLE FIXED ASSETS
Land Long Short Fixture
and Leasehold Leasehold and
Buildings Properties Properties Fittings TOTAL
£ £ £ £ £
Cost
at 01/04/2023 0 115,532 44,046 62,781 222,359
Additions 25,468 25,468
Disposals 0 0
at 31/03/2024 0 141,000 44,046 62,781 247,827
Depreciation
at 01/04/2023 0 78,890 37,604 58,904 175,398
For the year 3,732 1,000 2,710 7,442
Disposals 0 0
at 31/03/2024 0 82,622 38,604 61,614 182,840
Net Book Amounts
At 31/03/2024 0 58,378 5,442 1,167 64,987
At 31/03/2023 0 36,642 6,442 3,877 46,961
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4 DEBTORS Amounts falling due within one year

----- Start of picture text -----
2024 2023
£ £
2,378 6,176
2,378 6,176
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Registered number - 00800583 Charity number - 246998

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Abbeyfield Wrexham Society Limited
5 CREDITORS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade Creditors 5,616 4,662
Taxation and Social Security 874 774
Salaries Owed 3,214 6,050
Pensions 921 161
Other Creditors 1,200 1,200
11,825 12,848
6 LIMITED BY GUARANTEE
The company is limited by guarantee and does not have any share capital. Each member gives a guarant:
to contribute a sum not exceeding £1, to the company should it be wound up.
7 UNRESTRICTED FUNDS
Brought Incoming Outgoing Carried
Forward Resources Resources Transfers Forward
£ c £ £ £
General fund 598,121 170,821 -136,275 632,667
Designated funds 6,641 6,641
604,762 170,821 -136,275 0 639,308
8 RESTRICTED FUNDS
Brought Incoming Outgoing Carried
Forward Resources Resources Transfers Forward
£ £ £ £ £
Restricted funds 15,597 15,597
15,597 0 0 0 15,597
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Registered number - 00800583 Charity number - 246998

Abbeyfield Wrexham Society Limited

EXPENSES FOR THE YEAR ENDED 31st MARCH 2024

Accountancy Travel and Entertainment Rates Heat and Light Rent Cleaning General Maintenance Care call Food Wages - regular Pension contributions Training Equipment maintenance Gardening Health and Safety Audit Fees Legal Fees Insurance Postage Stationary & Office Supplies Telephone Subscriptions Bank Charges Miscellaneous Expenditure Depreciation of long leasehold properties Depreciation of short leasehold properties Depreciation of fixtures and fittings

2024 2023 £ £ 7,182 6,956 230 240 1,943 -7 18,393 21,726 839 839 306 1,174 7,274 7,859 2,356 2,105 17,448 14,916 49,590 47,408 484 399 200 132 2,353 847 1,726 2,855 2,932 2,144 1,200 1,200 187 50 2,281 4,855 19 374 78 10,763 10,637 10 746 305 314 438 999 3,732 3,120 1,000 1,000 2,710 2,710 136,275 135,303