**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** **Page 4** **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| **Page 7**