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2023-07-31-accounts

COMPANY NO. 850545 CHARITY NO. 247343

ABBEYFIELD KNUTSFORD SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST JULY 2023

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 2023

C O N T E N T S

----- Start of picture text -----
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
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ABBEYFIELD KNUTSFORD SOCIETY LIMITED COMPANY NUMBER: 850545 DIRECTORS' REPORT FOR THE YEAR ENDED 31ST JULY 2023

The directors present their report together with the financial statements for the year ended 31st July 2023.

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 Abbeyfield England. 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. We were fully occupied all year which resulted in an operational surplus and we were the beneficiary of a substantial donation which has resulted in a significant Net Surplus.

The donation will be used to replace the conservatory in the coming year.

Directors

The directors who served during the year are as follows:-

S Fraser Mrs A J Cartmel R B R Stephens Dr G Leicester Mrs R S Lunney Mr 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 14th November 2023 and signed on its behalf.

S Fraser Director

Page 1

INDEPENDENT EXAMINERS REPORT ON THE ACCOUNTS OF ABBEYFIELD KNUTSFORD SOCIETY LIMITED FOR THE YEAR ENDED 31ST JULY 2023 SET OUT ON PAGES 3 TO 7 CHARITY NUMBER 247343 COMPANY NUMBER 850545

I report to the charity trustees on my examination of the accounts of the company for the year ended 31st July 2023.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity's trustees of the company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").

Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of our examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

N D O'Brien FCA

1 Church Mews Churchill Way Macclesfield Cheshire. SK11 6AY

19th December 2023

Page 2

ABBEYFIELD KNUTSFORD SOCIETY LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2023

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/(OUTFLOW) OF RESOURCES
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Restricted Designated Unrestricted
Total
Funds
Fund
Funds
Funds
2023
2023
2023
2023
£
£
£
-
50,000
3,027
53,027
-
-
162,839
162,839
-
-
2,837
2,837
-
50,000
168,703
218,703
-
-
78,227
78,227
-
-
63,532
63,532
-
-
4,515
4,515
-
-
146,274
146,274
-
50,000
22,429
72,429
371,210
-
142,043
513,253
371,210
50,000
164,472
585,682		 Total
Funds
2022
£
606
142,099
260
142,965
79,083
63,512
1,896
144,491
(1,526)
514,779
513,253

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 2023

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
Designated fund
5
Unrestricted funds
6		 2023
£
£
371,210
500
217,254
217,754
2,682
600
3,282
214,472
585,682
371,210
50,000
164,472
585,682		 2022
£
371,210
500
145,158
145,658
3,615
-
3,615
142,043
513,253
371,210
-
142,043
513,253

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 2023. 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 2023 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 14th November 2023 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 2023

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 2023

2 TAXATION

As the company's activities are for charitable purposes, there is no liability to corporation tax.

3 TANGIBLE FIXED ASSETS

COST
At 31st July 2022 and 31st July 2023
DEPRECIATION
At 31st July 2022 and 31st July 2023
NET BOOK VALUE
At 31st July 2022 and 31st July 2023		 Freehold
Property
£
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 DESIGNATED FUND

This fund represents a donation towards major structural work to be done at the property in the coming year.

6 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 DRAFT INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST JULY 2023

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
Conservatory refurb Fees
Trustlink
Sundry expenses
OPERATING SURPLUS/(DEFICIT) 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
Room 2 Ensuite
conservatory
NET SURPLUS/ (DEFICIT) FOR THE YEAR		 2023
162,839
18,122
61,105
2,573
982
6,618
570
3,869
14,740
6,467
6,502
2,071
84
123,702
14
850
4,916
3,597
655
2,400
4,763
864
18,058
141,760
21,079
2,827
11
53,027
55,864
76,944
(4,515)
72,429		 2022
£
142,099
17,110
61,973
2,286
1,042
7,088
1,520
3,876
7,735
11,440
11,391
1,699
111
127,271
437
716
5,300
3,547
982
-
3,629
713
15,324
142,595
(496)
251
9
606
866
370
(996)
(900)
(1,526)

Page 7