2023-03-31-accounts - The Abbeyfield Barrow In Furness Society Limited

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2 to 6	Report ofthe Executive Committee	Report ofthe Executive Committee
	Report of the Chairperson
Bandg	Independent Examiner's	Report
10	income and Expenditure	Account
	Balance Sheet
12-18	Notes to the Financial Statements
19	Summary Hostel Properly	Revenue Account
The following	page does not form part of the audited financial statements.
20	Detailed Hostel Property	Reveriue Account

			Notes		2023		2022
Ftxed Assets				2	2	2	2
Housmg properties al depreciated cost			10		301,737		314,937
Giber lixed assets
Fixtures, finings and	equipmsnt				21,254		21,059
					322,981		335,996
Current Asset Investments
Charlhss Aid Foundation				173,509		179,591
				I73,508		i78,591
Current Assets
Debtors and prepaymsnts			13	5,057		4,340
Building Society Account			14	21,427		21,043
Cash at bank				14,997		14,723
				4'f,481		40,106
current Llablglles
crsdilonb Amourrfs	railing dus wiriiin oneyesr		15	12,346		12,728
Net current assets					202,642
Lon9 term liabilities
Cmdilorsr Amounrs	failing due over one year		16		70,311
Total Assele Less current		Liabilities			455,322
Reserves
General Reserve			18		431,613		436,772
Revaluation Reserve			20		23.509		28,591
					455,S22		466,36S

useful lives from the date of purch	useful lives from the date of purch	ased/build as fo
Component Type		Useful Life
External	Structure Leasehold	99Years
Internal	Structure	50Years
External	Structure	25 Years
External	Windows/Doors	26 Years
Kitchens		25Years
Bathrooms		25 Years
Heating Lift	System	20 Years 25Years

								2023		2022
3.	Turnover
	Gross rents receivable							168,824		154,113
	Less: rent and service charge		lasses		from voids			(3,190)		(2,335)
	Grants received									8,408
	Amortisation of Deterred	Income						6,288		6,285
								171,922		166,471
4.	Housing Slock								Units ln
									Management
								2023		2022
	Hostel accommodation:
	Number of bed spaces -	residents						12		12
5.	Operating (deflet!)/surplus
								2023		2022
	Operating {deficit)/surplus	is stated		after charging:				8		2
	Independent Examiner's/Auditors'			remuneration				900		900
	Depreciation on fixtures	& fittings						5,704		6,059
	Depreciation on housmg	properties						'I3,631		12,417
6.	Payment to Members, Commiuee				Members,	Officers etc
	No fee, remuneration or	expenses		are paid to any member or coinmittee			member of the Society,
	other than reimbursed expenses.
7.	Employees							2023		2022
										2
	Salaries and wages							81,716		78,669
	Employers National insurance		costs					3,496		2,370
	Annual Employment Allowance							(3,496)		(2,370)
								81,716		78,669
	Average weekly numbers	of persons			employed	during year:		2023		2022
	Hostel staff							5		5
8.	Interest receivable and	similar income						2023		2022
	Build'mg Society interest	reoeived						128		61
	Donations and Fundraising							700		750
	Friends ol Abbeykeld (FSS)							4
								832		812

						Annual
				Accumulated	Depreciated	Depreciation	Ifseful
			Cost	Depreciation '2	Cost 2	Charge 2	Economic '2	I.ifs
Exterrlal Structure -leashold internal Slruc'lure External Wondows/External IGchens Bathrooms Heating System i.iii		Doors	160,000 143,150 57.254 56,008 41,023 13,785 49,580	37,172 64,626 28,045 18,441 30,849 I1,002 28,927	'I22,828 78,525 29,209 37,567 10,173 2,783 20,653	1,616 2,863 2,290 2,240 1,641 689 1,983		99 50 25 25 25 20 25
			520,800	219,062	301,736	13,323
					Accumulated	Annual
				Totlrl	Anlortlsslloa	Anlonhlstlon
				2	E	E
Social Housing	Grant			230 191	153592	6,286

	Bxed Assets: Fixtures, Rnfngs 3Equipment Cost At 1 April 2022 Additions		2023 E 1'I4,112 5,899	2022 112,415 1,697
	Disposala
	At 31 March 2023		120,011	114,112
	Depreclatian At 1 April 2022 Charge for the year		93,053 5,704	86,993 e,060
	D&sposals
	At 31 March 2023		98,757	93,053
	Net Bosh Value At 3l March 2023		zf~	21,059
	Al I April 2022		21,059	25,422
			2023	2022
12.	Current Asset investment CAF		E 173,509	179,591
			2023	2022
13.	Debtors snd prepsyments due within one year Prepayments and accrued income		E 5,057	2 4,340
			2023	2022
14.	Current Asset investments Furness Building Society FBS - Friends of Abbeyf laid		E 20.552 914	2 20,423 620
			21,466	21,043
			2023	2022
15.	Credltars: amounts falling due wllhln one year Trade Creditors Accruals snd defened income Tsxatlon 3 Social Security Deferred Income nst of amortisatfon		2 4,090 1,874 96 6,288	E 4,323 1,590 530 e,zse
			12,34S	12&728
	The average number ol days between recept and paymenl	of purchase	Invoices Is 14days.
			2023	2022
	Credllars: amounts fahlng due atter ane year Deferred income net of amorbsaton		E 70,311	E 89,172

17.	Social housing and other government	Social housing and other government	grants	grants
	Gross grant creditor As at I Apr8 2022				23D,191
	Amortlsatlon
	At 1 April 2021				147,3D4
	Credit for the year				6,288
	As at 31st Mar 2023				153,592
	Het grant creditor AS at 31 Mar 2023				76,588
	Ths grants are arcomsed ax toycwsh
	Amounts falling due: within oce year or less (note 14) Between one and two years		and		8,285 6,285
	BetWeen hxo and fiVe yeara In five or more years				18,855 45,174
	Total Grant Creditor				76,589
	Faglng due In mars than one year (Hole 16)				70,314
18.	Btirlre cap Bat The company is lirmted	by guarantee	(herefora does not have a share capital.
	There are live members.
	Genera! Reserves				Total
					2
	At 31 March 2022				436,773
	Pnor Year Ad)
	Total comprehensive income tor the year				(4,960)
	At 31 March 2023				431,813
20.	Revaluation Reserves				Total
					2
	At 31 March 2022				29.591
	MOve mam				(6,082)
	At 31 March 2023
21.	Capital Commitments Capital expenditure that	has been contracted		)or but has nol been provided		tor in	2028	2022
	the fin anC ial Slatementa:
	Leasehold Improvements

						2023	2022	Variance %Variance	Variance %Variance
Income							E
Residential Charges						165,600	149,992	15,608	10 4o/
Losses arising froin vacancies			&absences			(3,I90)	(2,335)	(855)	36.6'/
Laundry Income						3,224	4,f21	(897)	-21.8%
Grant Income							8,408	(8,408)	-100.0/o
Amcnisation of deferred		Income				6,288	6,285		0 0'/
Turnover - net Income	from		residents'		charges	171,922	166,471	5,461	3 3'/o
Expenditure
Management expenses
Telephone - administration						1 094	936	(158)	-'IS9'/
Computers &Software						1,843	'l,790	(53)	-3 Oo/o
Insurance						2,957	2,656	(30'I)	.11.3%
Affiliation Fess						4,170	3,847	(323)	-84'/
Audit and Accountancy						4,083	3,461	(622)	-180'/
Legal and Piofessiciiai						53	273	220	80.6'/.
Sundry Expenses						1,774	2,045	27'I	'I33%
Postage and Stationery						294	462	168	36.4%
Bank Charges						f10	112	2	1 8'/
Donations						30	25	(5)	-20.0%
						16)408	15~607	(801)	-5 1o/
Repairs and matnlenance
Day to day repairs						14,427	14,171	(256)	-1.8%
Service Costs
Care and catering
Food						20,428	19,585	(843)	-4.3%
Cleaning &Laundry						3,421	2,523	(798)	-30.4%
Wages						81,716	78,669	(3,047)	-3.9%
Rates and Water						4,441	4,866	425	8.7%
Heat and Light						14,072	9,822	(4,250)	-43.3%
Teiewsion Licencss						159	165	6	3.6%
Mcrecainbs Bay Group						4010	2,978	(1,032)	-34,7'/
Depreciation - Property						13,631	'I2,417	(1,214)	-98'/
DeprscialiOn - Furniture	&FittingS					5,704	6,059	355	59%
						147,582	137,184	(10,398)	-7.6%
Operating costs						178,417	166,962	(11,455)	-6.9%
Hostel property revenue		operating		profit		(6,495)	(491)	(6,004)	1222.8%