COMPANY NO. 850545 CHARITY NO. 247343
ABBEYFIELD KNUTSFORD SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST JULY 2022
ABBEYFIELD KNUTSFORD SOCIETY LIMITED (COMPANY LIMITED BY GUARANTEE)
C O M P A N Y I N F O R M A T I O N
| DIRECTORS | S Fraser |
|---|---|
| Mrs A J Cartmel | |
| R B R Stephens | |
| Dr G Leicester | |
| Mrs R S Lunney | |
| S Noblet | |
| SECRETARY | Mrs T E Warburton |
| COMPANY NUMBER | 850545 |
| CHARITY COMMISSION | 247343 |
| REGISTERED NUMBER | |
| REGISTERED OFFICE | Abbeyfield House |
| 23c Bexton Road | |
| Knutsford | |
| Cheshire | |
| WA16 0EE | |
| BANKERS | Barclays Bank Plc |
| King Street | |
| Knutsford | |
| Cheshire |
ABBEYFIELD KNUTSFORD SOCIETY LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022
C O N T E N T S
-
1 Directors' report 2 Independent examiners report 3 Statement of financial activities
-
4 Balance sheet
-
5 & 6 Notes to the financial statements
7 Detailed Income & Expenditure Account
ABBEYFIELD KNUTSFORD SOCIETY LIMITED COMPANY NUMBER: 850545 DIRECTORS' REPORT FOR THE YEAR ENDED 31ST JULY 2022
The directors present their report together with the financial statements for the year ended 31st July 2022.
Principal activity
The principal activity of the company is to provide accommodation for lonely and elderly people in accordance with the aims and principles of the national Abbeyfield Society. The company is a registered charity limited by guarantee and therefore does not have a share capital.
Results for the year
Details of the results for the year are shown in the financial statements and notes on pages 3 to 7. Despite periods of unoccupancy for some of the rooms, an operating surplus was achieved. The directors are confident that the company has adequate reserves to continue in operational existence for the foreseeable future.
Directors
The directors who served during the year are as follows:-
S Fraser Mrs A J Cartmel Mrs R S Lunney R B R Stephens Dr G Leicester S Noblet
Small company rules
The report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. It was approved by the board on 22 November 2022 and signed on its behalf.
S Fraser Director
Page 1
ABBEYFIELD KNUTSFORD SOCIETY LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2022
| Notes INCOME RESOURCES 1 Donations received Charitable trading income Investment income TOTAL INCOMING RESOURCES RESOURCES EXPENDED Direct charitable expenditure Establishment, management and governance Property refurbishment costs TOTAL RESOURCES EXPENDED NET INFLOW OF RESOURCES Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Restricted Unrestricted Total Funds Funds Funds 2022 2022 2022 £ £ £ - 606 606 - 142,099 142,099 - 260 260 - 142,965 142,965 - 79,083 79,083 - 63,512 63,512 - 1,896 1,896 - 144,491 144,491 - (1,526) (1,526) 371,210 143,569 514,779 371,210 142,043 513,253 |
Total Funds 2021 £ 2368 129028 59 |
|---|---|---|
| 131455 | ||
| 76807 44891 4190 |
||
| 125888 | ||
| 5567 509212 |
||
| 514779 |
The notes on pages 5, 6 and 7 form part of these financial statements.
Page 3
ABBEYFIELD KNUTSFORD SOCIETY LIMITED COMPANY NUMBER: 850545 (England & Wales) BALANCE SHEET AS AT 31ST JULY 2022
| Notes TANGIBLE FIXED ASSETS 3 Freehold property CURRENT ASSETS Santander shares Cash at bank and in hand CREDITORS:amounts falling due within one year: Accrued expenses Refunds owing to residents NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES Restricted funds 4 Unrestricted funds 5 |
2022 £ £ 371,210 500 145,158 145,658 3,615 - 3,615 142,043 513,253 371,210 142,043 513,253 |
2021 £ 371,210 500 145,177 |
|---|---|---|
| 145,658 | ||
| 145,677 | ||
| 3,615 - |
2,108 0 |
|
| 3,615 | 2,108 | |
| 143,569 | ||
| 514,779 | ||
| 371,210 143,569 |
||
| 514,779 |
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provision of Section 477 of the Companies Act 2006. Members have not required the company, under Section 476 of the Companies Act 2006, to obtain an audit for the year ended 31st July 2022. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Sections 386 of the Companies Act 2006, and for preparing accounts which give a true and fair view of the state of affairs of the company as at 31st July 2022 and of its surplus for the year then ended in accordance with the requirements of Section 396, and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the company.
The financial statements which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 were approved by the board on 22 November 2022 and signed on its behalf.
S Fraser Director
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ABBEYFIELD KNUTSFORD SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022
1 ACCOUNTING POLICIES
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historic cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordadnce with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they adopt the going-concern basis in preparing the financial statements.
Company Status
The charity is a company limited by guarantee. If the charity is dissolved the trustees/members, along with any person that ceased to be a trustee/member within twelve months of the dissolution, must contribute such sum (not exceeding £1 each) as may be demanded of them towards payments of the debts and liabilities of the charity incurred before they ceased to be a trustee/member.
Fund Accounting
Unrestricted Funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated Funds are funds set aside by the trustees out of unrestricted funds for specific future purposes or projects. Any amounts not utilised are carried forward where the specific purpose or project remains part of the charity's objectives.
Restricted Funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.
Resources Expended
Resources expended are allocated to the particular activities to which they relate. Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.
Tangible Fixed Assets and Depreciation
The directors consider it appropriate to write off the value of furniture, equipment and fittings. The value of such assets would not be recoverable and only serves to distort the reserves available for the general purposes of the Society. Accordingly all expenditure on renewing or replacing the contents of the company's premises will be written off against income as incurred.
No depreciation is charged on the freehold property as in the opinion of the directors it would be immaterial. In accordance with Financial Reporting Standard No 11, the directors have undertaken an impairment review of the property and consider its value to be not less than cost as stated on the balance sheet.
Page 5
ABBEYFIELD KNUTSFORD SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST JULY 2022
2 TAXATION
As the company's activities are for charitable purposes, there is no liability to corporation tax.
3 TANGIBLE FIXED ASSETS
| COST At 1st August 2021 At 31st July 2022 DEPRECIATION At 1st August 2021 At 31st July 2022 NET BOOK VALUE At 31st July 2022 At 31st July 2021 |
Freehold Property £ 371,210 |
|---|---|
| 371,210 | |
| - | |
| - | |
| 371,210 | |
| 371,210 |
4 RESTRICTED FUNDS
These funds represent the proportion of the company's total reserves that are committed to the freehold property and are not therefore available for the general activities of the charity.
5 UNRESTRICTED FUNDS
In accordance with good practice and the Charity Commission's Statement of Recommended Practice, the society maintains sufficient funds to fund fixed costs for a minimum of six months in the event of operations ceasing.
6 COMPANY LIMITED BY GUARANTEE
Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the Company's assets if it should be wound up while he/she is a member or within one year after he/she ceases to be a member.
Page 6
ABBEYFIELD KNUTSFORD SOCIETY LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST JULY 2022
| INCOME FROM RESIDENTS LESS DIRECT COSTS Food costs Wages and salaries Staff pensions Telephone and Internet Water rates and council tax Gardening Insurance Light and heat Repairs and maintenance Replacement of equipment Cleaning Fish tank and flowers GENERAL ADMINISTRATIVE EXPENSES Travelling, conferences etc. Stationery, postage, advertising Administrative salary Abbeyfields affiliation fee Residents' outings professional fees Trustlink Sundry expenses OPERATING LOSS FOR THE YEAR INCOME FROM OTHER SOURCES: Interest received on bank deposits Income from investments General donations received TOTAL OF OTHER INCOME SURPLUS AFTER INVESTMENT INCOME AND GENERAL DONATIONS LESS COST OF CAPITAL/REFURBISHMENT WORK: HMO costs Garden works Conservatory NET SURPLUS (LOSS) FOR THE YEAR |
2022 142099 17110 61973 2286 1042 7088 1520 3876 7735 11440 11391 1699 111 127271 437 716 5300 3547 982 0 3629 713 15324 142595 -496 251 9 606 866 370 996 900 1896 -1526 |
2021 £ 129,028 16,182 60,625 2,841 1,060 5,167 1,088 3,708 7,284 5,012 2,194 2,328 167 |
|---|---|---|
| 107,656 | ||
| 84 698 5,409 3,512 80 0 3,416 843 |
||
| 14,042 | ||
| 121,698 | ||
| 7,330 55 4 2,368 |
||
| 2,427 9,757 860 3,330 |
||
| 5,567 |
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