COMPANY NO. 850545 CHARITY NO. 247343
ABBEYFIELD KNUTSFORD SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST JULY 2024
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 The Library, Jordangate Macclesfield Cheshire SK10 1EE
ABBEYFIELD KNUTSFORD SOCIETY LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024
| 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 2024
The directors present their report together with the financial statements for the year ended 31st July 2024.
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 replaced the conservatory with a brick built extension. This utilised in full the donation received in the previous financial year. We made an operational surplus for the year as we were mainly fully occupied.
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 5th November 2024 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 2024 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 2024.
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:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or
-
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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 5th Janaury 2025
Page 2
ABBEYFIELD KNUTSFORD SOCIETY LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2024
| Restricted Designated Unrestricted Total Funds Fund Funds Funds Notes 2024 2024 2024 2024 £ £ £ INCOME RESOURCES 1 Donations received - 812 812 Charitable trading income - - 167,344 167,344 Investment income - - 7,744 7,744 TOTAL INCOMING RESOURCES - - 175,900 175,900 RESOURCES EXPENDED Direct charitable expenditure - - 84,353 84,353 Establishment, management and governance - - 73,377 73,377 Property refurbishment costs - 50,000 46,491 96,491 TOTAL RESOURCES EXPENDED - 50,000 204,221 254,221 NET INFLOW/(OUTFLOW) OF RESOURCES - (50,000) (28,321) (78,321) Total funds brought forward 371,210 50,000 164,472 585,682 TOTAL FUNDS CARRIED FORWARD 371,210 - 136,151 507,361 |
Total Funds 2023 £ 53,027 162,839 2,837 218,703 78,227 63,532 4,515 146,274 72,429 513,253 585,682 |
|---|---|
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 2024
| 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 |
2024 £ £ 371,210 500 154,828 155,328 19,177 - 19,177 136,151 507,361 371,210 - 136,151 507,361 |
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 |
|---|---|---|
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 2024. 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 2024 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 5th November 2024 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 2024
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 accordance 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 2024
2 TAXATION
As the company is exempt from Corporation Tax as its activities are exclusively for charitable purposes.
3 TANGIBLE FIXED ASSETS
| COST At 31st July 2023 and 31st July 2024 DEPRECIATION At 31st July 2023 and 31st July 2024 NET BOOK VALUE At 31st July 2023 and 31st July 2024 |
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
The designated funds of £50,000 that was allocated in 22/23 has now been spent during 23/24 for the new build to create a new lounge room in place of the old conservatory.
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 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST JULY 2024
| 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: Room 7 New Lounge Room Patio rear Less: transferred from designated reserve NET (DEFICIT)/SURPLUS FOR THE YEAR |
2024 167,344 20,201 64,152 2,756 863 5,202 451 5,120 14,962 8,825 8,237 2,178 51 132,998 134 947 5,384 6,899 1,002 4,900 5,059 407 24,732 157,730 9,614 7,728 15 812 8,556 18,170 (8,620) (74,395) (13,476) (96,491) 50,000 (46,491) (28,321) |
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 55,865 76,944 (4,515) 72,429 |
|---|---|---|
Page 7