## THE ABBEYFIELD TAUNTON
## DEFENDAMUS SOCIETY LIMITED
## UNAUDITED FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
## CONTENTS
1 Company Information 2 – 4 Report of the Executive Committee 5 Independent Examiner’s Report 6 Income and Expenditure Account and Statement of Financial Activities 7 Balance Sheet 8 - 13 Notes to the Financial Statements
Company Registration Number: 900502 Registered Charity Number: 253429
Company Registration Number: 900502
1
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## COMPANY INFORMATION
|EXECUTIVE COMMITTEE:|Col D N Lowe OBE DL|Chairman|
|---|---|---|
||A Whyte||
||K McCarthy||
||Cdre D Lewis||
||R Harris||
||D Allwright||
|COMPANY SECRETARY|Mrs A Smith||
|REGISTERED OFFICE:|Stafford House||
||Blackbrook Park Avenue||
||Taunton||
||Somerset||
||TA1 2PX||
|INDEPENDENT EXAMINER:|Michael Cook BSc FCA||
||A C Mole & Sons||
||Stafford House||
||Blackbrook Park Avenue||
||Taunton||
||Somerset||
||TA1 2PX||
|BANKERS:|Royal Bank of Scotland plc||
||7 Fore Street||
||Taunton||
||Somerset||
||TA1 1HT||
||CCLA Investment Management|Ltd|
||COIF Charity Funds||
||Senator House||
||85 Queen Victoria Street||
||London||
||EC4V 4ET||
Company Registration Number: 900502
2
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## REPORT OF THE EXECUTIVE COMMITTEE
The Members of the Executive Committee present their Report and the financial statements of the Society for the year ended 30 June 2021.
## CHAIRMAN’S REPORT
This last year has been one of learning to live with Covid-19 and I am happy to report that none of our residents caught the virus, thanks to all the preventative measures put in place and their own willing cooperation. There have been scares towards the end of the year with the Delta variant but these were confined to members of staff who thankfully soon returned to work.
Occupancy has been good but finding new residents to fill the two vacancies that did occur took time and some imaginative ways of marketing such as virtual tours of the House, however, overall there was a shortfall in income from occupancy. The Trustees continue to invest in the building and plant and equipment and this along with an increase in professional fees resulted in an operating loss being recorded for the year.
There has been a major change to the post of House Manager during the year as Mrs Amy Smith wished to work for fewer hours. The Trustees appointed Mrs Sam (Samantha) Corrie to the post of Joint House Manager working in tandem with Mrs Smith, but taking a greater share of hours worked. She has proved to be a tower of strength taking on the main responsibility for Residents and Staff whilst Mrs Smith provided continuity with her considerable experience, taking responsibility, inter alia for the accounts and financial control.
Finally, I must record my sincere thanks to my fellow Trustees, our volunteers and all other members of the staff team all of whom have contributed hugely to the success of the House in the most difficult of circumstances.
## GOVERNING DOCUMENT
The Society is a charity constituted as a company limited by guarantee, incorporated on 10 March 1967 and registered as a charity on 16 August 1967. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1 each.
## RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
The directors of the company are also charity trustees for the purpose of charity law and under the company’s Articles are known as members of the Executive Committee. The Chairman and other committee members have been actively seeking to attract new members to increase the size of the existing committee. New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes and recent performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## ORGANISATIONAL STRUCTURE
The Society is affiliated to the Abbeyfield Society, and is controlled by an Executive Committee who meet regularly and are responsible for the strategic direction and policy of the charity. At present the Executive Committee has six members from a variety of professional backgrounds relevant to the work of the charity. All committee members are unpaid volunteers. Further valuable help is given by other volunteers who, under the collective name of Friends of Abbeyfield, provide support to residents.
## RISK MANAGEMENT
The major risks to which the Society is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
Company Registration Number: 900502
3
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## REPORT OF THE EXECUTIVE COMMITTEE
## OBJECTIVES AND ACTIVITIES
The Society’s objective and principal activity is to provide accommodation and housing for the elderly in accordance with the aims and principles of the Abbeyfield Society Limited. This objective is achieved by the provision and management of a house in Taunton known as Northfield Court. It is the objective of the Executive Committee each year to maximise the public benefit provided by the Society in providing high quality support, having regard to the extent of the Society’s income and reserves, the cost of facilities and the ability of residents to make payments from their own resources.
Northfield Court was opened in March 2008 and provides six one bedroomed and five two bedroomed self-contained flats and can accommodate up to sixteen people.
Residents are encouraged to maintain their independence whilst being supported with meals, administration and social activities. A housekeeper is in attendance and much voluntary support is given by a wide cross section of the local community. Entry is open to all, subject to satisfactory health requirements, with charges set at affordable levels. Residents in receipt of housing or other state benefits are accepted. Charges are reviewed annually and kept as low as considered prudent.
When reviewing the charity’s aims and objectives and planning its activities the trustees have had due regard to the Charity Commission’s public benefit guidance, including its guidance on fee charging.
## FINANCIAL REVIEW
Net rental income has decreased as a result of higher voids and vacancies during 2021. Expenditure has increased compared to last year and as a result there is a net deficit for the year of £18,843 (2020: surplus £6,096).
## RESERVES POLICY
Reserves are needed to cover any decline in occupancy levels and unexpected emergency repairs and other expenditure. At 30 June 2021 the level of free reserves (excluding fixed assets) amounted to £115,286 (2020: £134,129) which the Executive Committee consider is appropriate for the charity’s needs. The free reserves equate to approximately six months’ running costs.
## RESPONSIBILITIES OF THE EXECUTIVE COMMITTEE
The members of the Executive Committee (who are also directors of The Abbeyfield Taunton Defendamus Society Limited for the purposes of company law) are responsible for preparing the Report of the Executive Committee (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Executive Committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Executive Committee are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Executive Committee are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Company Registration Number: 900502
4
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## REPORT OF THE EXECUTIVE COMMITTEE
Insofar as the Executive Committee are aware:-
- there is no relevant audit information of which the charitable company’s auditors are aware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information
The Executive Committee are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the Executive Committee
……………………………… COL D N LOWE OBE DL Chairman
2 December 2021
Company Registration Number: 900502
5
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
OF THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED (the Company)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021, which are set put on pages 6 to 13.
## **Responsibilities and basis of report**
As the charity’s trustees of the Company (and also its directors 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my 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 report**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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.
Michael Cook BSc FCA A C Mole Chartered Accountants Stafford House Blackbrook Park Avenue Taunton TA1 2PX
2 December 2021
Company Registration Number: 900502
6
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF FINANCIAL ACTIVITIES
## YEAR ENDED 30 JUNE 2021
||YEAR ENDED 30 JUNE 2021|||
|---|---|---|---|
||INCOME
Note
Investments
Charitable activities
2
Other
4
TOTAL INCOME
EXPENDITURE
Charitable activities
5
TOTAL EXPENDITURE
NET (EXPENDITURE)/INCOME AND NET MOVEMENT IN
FUNDS IN THE YEAR
6
RECONCILIATION OF FUNDS
Total Funds Brought Forward
Total Funds Carried Forward
13
All funds are unrestricted.|2021
£
9
225,562
438
226,009
244,852
244,852
(18,843)
1,815,771
1,796,928|2020
£
153
234,497
971|
||||235,621|
||||229,525|
||||229,525|
||||6,096
1,809,675|
||||1,815,771|
|||||
The notes on pages 8 to 13 form part of these financial statements.
Company Registration Number: 900502
7
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## BALANCE SHEET
|||AS AT 30 JUNE 2021|AS AT 30 JUNE 2021|2021
£
£
1,681,642|2021
£
£
1,681,642|2021
£
£
1,681,642|||
|---|---|---|---|---|---|---|---|---|
||||Notes||||2020||
||||£|||||£|
||FIXED ASSETS||||||||
||Tangible Assets||9|||||1,681,642|
||||||||||
||CURRENT ASSETS|||||5,728
137,349|||
||Debtors||10
5,929||||||
||Cash at bank and in hand||120,602||||||
||||||||||
||||126,531|||143,077|||
||CREDITORS||||||||
||Amounts falling due within one year||11
11,245|||8,948|||
||||||||||
||||||||||
||NET CURRENT ASSETS||||115,286|||134,129|
||||||||||
||||||||||
||NET ASSETS||||1,796,928|||1,815,771|
||||||||||
||UNRESTRICTED FUNDS||||||||
||||||||||
||General Fund||13||1,156,496
640,432|||1,175,339|
||Redevelopment Fund||13|||||640,432|
||||||||||
||||||||||
||TOTAL CHARITY FUNDS||||1,796,928|||1,815,771|
||||||||||
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
The members of the Executive Committee acknowledge their responsibilities for:
- a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. The financial statements were approved by the Executive Committee on 2 December 2021 and signed on its behalf by:-
………………………………………… K McCARTHY
………………………………………… COL D N LOWE OBE DL Chairman
The notes on pages 8 to 13 form part of these financial statements.
Company Registration Number: 900502
8
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
## 1 ACCOUNTING POLICIES
## Charitable Company Status
The Abbeyfield Taunton Defendamus Society Limited provides self-contained flats where residents are encouraged to maintain their independence whilst being supported with meals, administration and social activities. It is a company limited by guarantee, has no share capital and is registered in England and Wales. The registered office is Stafford House, Blackbrook Park Avenue, Taunton, Somerset TA1 2PX.
## Statement of compliance and basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value. The financial statements have also been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued October 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Abbeyfield Taunton Defandamus Society Limited meets the definition of a public entity under FRS102.
The Executive Committee consider that there are no material uncertainties about the charity’s ability to continue as a going concern and are of the opinion that the accounts should be prepared on this basis.
## Fund Accounting
Unrestricted funds are available for use at the discretion of the Executive Committee in furtherance of the general objectives of the charitable company.
Designated funds are unrestricted funds earmarked by the Executive Committee for particular purposes.
## Income recognition
All income is included in the statement of financial activities when the charity is entitled to the income, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
- Investment income is included when receivable.
- Income from charitable trading activities is accounted for when earned. The company is not registered for VAT.
- The value of services provided by volunteers has not been included in these accounts.
- Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised as Job retention scheme income and are included within other income in the period in which it becomes receivable
## Expenditure recognition
Expenditure is recognised on an accruals basis as a liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis if applicable.
Company Registration Number: 900502
9
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
## 1 ACCOUNTING POLICIES (continued)
## Tangible fixed assets
Tangible fixed assets are initially recognised at cost.
No provision for depreciation of freehold properties is included in the financial statements because in the opinion of the Executive Committee the depreciation charge and any accumulated depreciation would be immaterial. The residual value of the property at the end of its useful economic life to the charity is likely to be significantly above the present carrying value given the charity's policy and practice of regular maintenance and repair.
Expenditure on major items of equipment at Northfield Court has been capitalised and is being written off at 15% per annum on a straight line basis.
Other expenditure on furniture and equipment within the charity’s home is written off in the year in which the cost is incurred as it is subject to considerable wear and tear and is being continually replaced and renewed.
## Taxation
As a registered charity, the company is exempt from tax on income and gains to the extent that these are applied to its charitable objects.
## Financial instruments
All of the charity’s financial assets and liabilities qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## Critical accounting estimates and judgments
The preparation of the financial statements requires the Executive Committee to make judgements, estimates and assumptions that affect the application of accounting policies and the amounts recognised in the financial statements. The Executive Committee are of the opinion that there were no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
## 2 RESIDENTS' LETTINGS
This represents the amounts receivable by the charity from residents for accommodation in the home maintained by the charity.
||2021|2020|
|---|---|---|
||£|£|
|Gross residents’ lettings|243,290|240,894|
|Less: Vacancies|(17,728)|(6,397)|
||_______|________|
||225,562|234,497|
Company Registration Number: 900502
10
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
|3
4
5
|3
4
5
|UNITS/BEDSPACES
Under management at the end of the year
OTHER INCOME
Sundry receipts
Coronavirus Job Retention Scheme grants
CHARITABLE EXPENDITURE|___|2021
16
_____
2021
£
-
438
_____
438
_____|2021
16
_____
2021
£
-
438
_____
438
_____|__|__|2020
16
____
2020
£
971
-
____
971
____|2020
16
____
2020
£
971
-
____
971
____|
|---|---|---|---|---|---|---|---|---|---|
||||___
___|||__
__|__
__|||
|||||||||||
|||||||||||
||||||2021||||2020|
||||||£||||£|
|||Provisions||17,517||||17,517||
|||Staff costs||125,118|||126,048|||
|||Repairs and renewals||38,492|||30,278|||
|||Council tax||10,536|||10,394|||
|||Water||3,340|||3,716|||
|||Insurance||5,324|||4,974|||
|||Electricity and gas||15,300|||15,133|||
|||Gardening||1,603|||1,410|||
|||Abbeyfield Society membership fee||5,121|||5,052|||
|||Independent Examination and accountancy||6,068|||4,480|||
|||Sundry expenses||4,151|||4,440|||
|||Telephone||4,399|||3,986|||
|||Bank charges||394|||470|||
|||Advertising||2,455|||904|||
|||Legal and professional fees||5,027|||723|||
|||HMRC interest||7|||-|||
|||||||||||
|||||244,852|||229,525|||
|||||||||||
Company Registration Number: 900502
11
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
## 6 NET (EXPENDITURE)/INCOME FOR THE YEAR
|Net (expenditure)/income for the year is after
charging:
Independent Examiner’s fee
Accountancy services – Payroll||2021|2021||2020|
|---|---|---|---|---|---|
||||||£|
|||||||
|||||2,220||
|||||1,200||
|||||||
## 7 STAFF COSTS AND NUMBERS
|STAFF COSTS AND NUMBERS||||||
|---|---|---|---|---|---|
||||2021||2020|
|||||||
|Staff costs were as follows:-|||£||£|
|||||||
|Wages and salaries||121,473
1,948||121,008||
|Social security costs||||3,451||
|Pension costs||1,697||1,589||
||_|_______
||________||
|||||||
|||125,118||126,048||
||_|___|____
|___|_____|
|The average number of employees during the year was as follows:-||||||
||||||2020|
|||||Number||
|Staff||||11||
|||||||
|||||________||
During the year settlement payments of £8,000 were made (2020: £nil).
No employee had emoluments above £60,000 in the current or the previous year.
The charity considers its key management personnel to comprise the Executive Committee and the House Manager. Total remuneration of key management personnel in the year was £30,813 (2020 - £21,759).
## 8 TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS
No members of the Executive Committee received any remuneration during the current or the previous year.
No members of the Executive Committee were reimbursed expenses in respect of Trustee duties during the current or the previous year.
No member of the Executive Committee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the current or the previous year.
Company Registration Number: 900502
12
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
|9
10
11|9
10
11|TANGIBLE ASSETS
Cost
At 1 July 2020 and 30 June 2021
Depreciation
At 1 July 2020 and 30 June 2021
Net Book Value
At 1 July 2020 and 30 June 2021
DEBTORS|TANGIBLE ASSETS
Cost
At 1 July 2020 and 30 June 2021
Depreciation
At 1 July 2020 and 30 June 2021
Net Book Value
At 1 July 2020 and 30 June 2021
DEBTORS||Freehold Land
& Buildings
Northfield
Court
£
1,681,642
________
-
________
1,681,642
________|Freehold Land
& Buildings
Northfield
Court
£
1,681,642
________
-
________
1,681,642
________|Freehold Land
& Buildings
Northfield
Court
£
1,681,642
________
-
________
1,681,642
________|Freehold Land
& Buildings
Northfield
Court
£
1,681,642
________
-
________
1,681,642
________|Furniture
Fixtures &
Fittings
£
16,457
________
16,457
________
-
________
|Furniture
Fixtures &
Fittings
£
16,457
________
16,457
________
-
________
|Furniture
Fixtures &
Fittings
£
16,457
________
16,457
________
-
________
|Furniture
Fixtures &
Fittings
£
16,457
________
16,457
________
-
________
|Total
£
1,698,099
________
16,457
________
1,681,642
________|Total
£
1,698,099
________
16,457
________
1,681,642
________|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||
||||||||||||||||
||||||||||
|_
_
_|||||
||||||||||||||||
|||||||||||||2021||2020|
|||||||||||||||£|
||||||||||||||||
||||Prepayments||||||||||5,728||
||||||||||||||||
||||CREDITORS- Amounts falling due within one year||||||||||||
|||||||||||||2021||2020|
||||||||||||||£
8,948|£|
||||||||||||||||
||||Other creditors||||||||||||
||||||||||||||||
Company Registration Number: 900502
13
## THE ABBEYFIELD TAUNTON DEFENDAMUS SOCIETY LIMITED
## NOTES TO THE FINANCIAL STATEMENTS
## YEAR ENDED 30 JUNE 2021
## 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS
|Tangible fixed assets
Current assets
Current liabilities
MOVEMENT IN FUNDS
Unrestricted Funds
General Fund
Redevelopment Fund|At 1 July
2020
£
1,175,339
640,432
________
1,815,771
________|General
Redevelopment
Total
Fund
Fund
Funds
£
£
£
1,041,210
640,432
1,681,642
126,531
-
126,531
(11,245)
-
(11,245)
________
________
_______
1,156,496
640,432
1,796,928
________
________
________
At 30 June
Income
Expenditure
2021
£
£
£
226,009
244,852
1,156,496
-
-
640,432
________
_________
________
226,009
244,852
1,796,928
________
_________
________|
|---|---|---|
## 13 MOVEMENT IN FUNDS
## PURPOSE OF FUNDS
## Redevelopment Reserve Fund:
This fund is a designated fund of the charity and has arisen from bequests made to the charity. When Woodstock House was sold the funds generated by the sale were transferred to this reserve.