COMPANY REGISTRATION NUMBER: 00935713 CHARITY REGISTRATION NUIABER: 257620 The Abbeyfield Honiton Society Limited Company Limited by Guarantee Financial Statements 31 March 2023
The Abbeyfield Honiton Society Limited Company Llmited by Guarantee Flnancial Slatements Year ended 31 March 2023 Page Trustees, annual report (incorporaling the directorfs report) Independent audito¢s report to the members Stalement of financial aclivities (including inrne and expenditure account) Statement of financial position 12 13 Notes to the financial statements 14
The Abbeyfield Honiton Soclety Limited Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) Year ended 31 March 2023 The Iwsiees, who are also the directors for the purposes of c¥)mpany law, presenl their report aThJ the ffnanaal statements of the chartty lor the year end1 31 March 2023. Referenco and admlnlslrnllve detsllg Registered charlty name The Abbeyfiekl Honf(on Society Limlted Chafity ragislration number 257620 Company reglslration number 00935713 Prlncipal offlce and rggist•r8d Stanhope House office 36 High Street Honiton EX14 1PJ The Irustees .C Cox G Cumming H Simon l Fool J Beck K Bden M Jdly P Ireton S Rcthrts C Knee C Irelon C Whitlfxk {Appoint&J 30 November 20221 {Appointed 30 November 20221 (Appointed 30 November 20221 IAppoinled 30 November 20221 IAppointed 30 November 20221 {Resigned 17 July 20231 (Resigned 30 November 20221 {Resigned 1 June 20221 {Appoinled 30 November 20221 1Restgnl 30 November 20221 (Appoinled 30 November 20221 Auditor Stuart Carrington FCA Weslcotts ISWI LLP Chartered AoUntants Timberly South Streel Axminster Devon England EX13 SAD
The Abbeyfield Honiton Soclety Limiied Company Limited by Guarantee Trustees. Annual Report (Incorporating the Direcior's Report) (¢Itl) Year ended 31 March 2023 Structure, govemance and management Constitution The Abbeylield Hor7iton Society mIted is a regislered Charty which was originally established by constitution dated 19th July 1968. The most recenl amernlmenls to the Articles ol Association were on 1 sl April 2023. Organisation The Society is run by the Execthwe Board. The Executwe Committee meets regular lo discuss and manage the daily operation ol the thiety. The Treasurer presents a rewrt al each meeting. selting out Ihe year lo (late irKX)me and expenditure in comparison wtth the previous year and Klenlifies any unexpected anticipated budget pressures and plans lo aw)mmodale these. A significant change in our Structure occurred during the course of this year wf(h the merger ol Colyton and Honilon Abbeyfiekl scKielies. The current board ol trustees of Colylon were joined by lan and Mark from Hontton and this bJaTd now runs bcrth societies. The change in slructvre has ¢realed a new Tole of Chief Executive Officer responsible for overs1ng t)olh houses and reporting to the lJ)ard ol Iruslees. This iole has been taken on by Graham Jenkins who has lengthy experience with Abbeyfield and has proven enthusiasm for its core values. The two societies have been run efficiently and eflectively during the year thanks lo the hard work and loyalty ol the staff teams and commitment. th'lls and exFerience ol our Trustees and local supporters. We welcomed a new administrator Anna lo our leam this year. Wilh Ihe merger ol Colylon arKI Honiton Anna is already proving lo be an essential part of the team arKI provides valuable support to Graham and the house managers. Risk managefflenl The Executive Committee examines the major siratlc, IsineSS and operational risks which the Society laces and approves an annual risk management plan which confimis that systems are in pla lo prevenl or mitigate key areas of These include Govemance. Finance. Health and Safety and Sialfing. The Finance Committee meets at key stages of the financial year 10 review the Society's income and expenditure. lo prepare a detailed ldget for the future year and lo prepare recommendations for any lee arKI salary increases to tE ratified by Ihe Board. Oblectlves and activilie5 - To provide shettered housing with on-srte supwt to enable okler people from diverse bad(grounds to continue to live irKJependenlly for as as kX)ssible. - To promote engagement and inv(Avement wilh local communty ol which Abbgyliekl Honiton is an integral part. To foster the wsitive asp%ct of commvnal life wiihin the house - combating loneliness encouragirKJ social contact and promolillg Ihe physical. social emotional well-being ot resthnls.
The Abbeyfield Honiton Society Limited Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (¢ortthiwd) Year ended 31 March 2023 A¢hlevements and perfornmnce During the year 22-23 y have welcom&J 6 new resKlents al Honiton. Occupancy at Honilon is full and there is a waf(ing list shoukl any further Vacanc becorne avatlable. The oflice al Colyton is now the base for our administrator and CEO to Tun the Iwo houses, we are noticing an increase in the administrative burden and expect this to increase so having thts dedicat&J space is a real asset. The offits is also put to good use for staff twning arKI for the East Devon Abbeyfieid Chairs meetings osted by our membership corwltanl Paul Boull. Stafling has proved to be challenging and I woubj like to ac*nowledge the overtime pul in by senior staff lo ensure our kf(¢hen is ahways open and our high standards of cleaning have been maintained. Our House Manager at Honiton resIgr1 during ihig year and we have recruited a new manager from within our team. Penny has taken over the role as House Manager at Honilon and is settling in well to the role. Recrurtment of new staff was undertaken arKi a new part-lirne cook has been added lo our team and another as "bank staff.. Our staff continue to organise a range of actlvilies and entertainrnents including films. qui2ze& and wb evenings. Honiton Voluntee hold a collee morning every We(Inesday. Day trips have been organised lo Exeter, Shert(Jrne and the WestF(sint Xmas Fayre using TRIP community transwrt. Residents enjoyed Hontton carnival wf(h hot dogs and wi. Highlighi ol year was the Christmas meal at The Belmont Holel that was enjoyed by residents. staff and volunteers. We have created our own professtonal websrfe wrfh ihe help a local expert. The board feels il is important to embrace SOCI media and is looknng * ways to improve tts weserbce. Abbeylield Colyton & Hontton - involvement in the wider Abteyfield movement The Chairman ol Trustees of the Honrton kniety aL attends the wder area group ol membership societies comprising societies in the East Devon are& Thk8 foNm is a useful place to share our experiences, both positwe and problematic and work together lo find solutions ar to maintain I servi$ that we provide. unfortunate Lyme Regis Abbeyfield house has closed this year. Hontton Sociely has now merged with Colyton kniety so that lY leaves 3 Societ in the East Devon area. As a Board we can see advantages 9ing foThvard of smallei houses Working together and enjoying the benefits of sharing the administiative burden and the purchasing benefits. Nationally, Abbeyfield has reviewed r(s set up and direction and discussions are ongoing. An Abbeyfield world council has been created and under that umbrella rt divKle(l inlo At)eYf10 groups represenlalNe ol the country in which they are based. At the present time we our now members of the new Abbeyfield EnglaTrJ group and the stru¢ture and role of this tK)ard is being lindised during the current year. 11 will tse important lo engage with this process to ensure that we have inwrt into the decisions being made.
The Abbeyfield Honiton Society Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conlhuedj Year ended 31 March 2023 Summary When reflecting on the year 2022-23 the new challenge of the merger of Colyton a1 Honrton societies has provided the biggest change and one we hope goes towards protecting the lulure ol both societies - together we are stronger. We are VERY grateful to everyone who contributes so cheerfully and tirelessly lo making Stanhope House a very special place for those who live here, work here and volunteer. Thank you all so much. Financial review The financial results for the year are sel out in the Income aTrJ ExperKIitU Account and the position al the end of the year is shown in the Balance Sheel. Thanks are due lo our Treasurer, Graham Cumming, for his professional leadership in this area. We are commrtted to continually investing in our properties lo ensure the highest standards are maintained and maintenance is carried oul in a timety manner. With this in mind. internal aheralions at Honiton have enab a new dining area lo be created and the socia] area has been increased. Both areas have been redecoraled and equipped with new lurnrture. Plans we in place lo add private shower room tacilrties lo two rooms and 10 improve the appearance ol the outside of the building. With forward planning ol anticipat expeThJiture arKI close monitoring of exerlture patterns and operating costs, the Board has recommended a P/0 increase in fees for residents from April 1 $12022. This increase was felt lo be necessary in light of the eXted rise in inflation and fuel costs this year. Staff salaries and wages were increawl by 5%. Total income for the year iTreaSed to £194.155 {2022= £124.8831. ExTrlIUre also increased from £151,198 to £175,170. This year there was an overall suwus pl £18,98512022= loss of £26.3151. All funds are for unrestricted purposes, total funds St1 at £797,484 as al 31 March 2023 12022.. £778,4991- Net current assets increased from £159.137 10 £165,224 by the end of the 22123 financial year. Plans for lulU periods The Trustees and House Committee are committed to maintaining a high standard ol repairs and maintenance lo ensure the well-being arKI heallh and safety of residerrts. There is adequate provisDn in the budget to refurbish apartments to a high standard whenever there are changes in occupancy. At Honilon we have pi*1 in in planning permission lor a revarnp of the external appearance of the propety and are reviewing the Fossibiltty ol garden improvements and a(kling an extra room. Events after the end ol the reporting perlod Particulars of events after the reporting date are detailed in note 22 to the tinancial statemerrts.
The Abbeyfield Honlton Society Limited Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (conthwd) Year ended 31 March 2023 Trustees. responsibllities statement The Iruslees. who are also directors for the purKX)ses ol company law, are sponSible lor preparing the trustees. report and the financi slatemenls in acrdanCe with applicable law and United Kingdom Accounting Standards {Unlted Kingdom Generally Accepted Accounting Practice). Company law requires the charity truees to prepare statements lor each year which give a true and fair view of the stale of affars ol the charitable company and ihe incoming resources and apF4ication of resources. including the income and experKltture. for that pericrtl. In preparing these financial statements. the truslees are required to: sèlect suitable accourrting policies and then appty Ihem consi8tenity' observe the methods a1 priwpl8S in the aFiJficable Charrties SORP. make judgments and a(ountIng estimates Ihat are reasonable and prudent; prepare the linancid stalemenls on the going concern basis unless r( is inappropriate to presume that the chartty will continue in business. The INstees are resF)onsible for keepiro adg]uate acc4xJnliw records that are sufficienl to show and explain the charitys transactions and disdose wtih reasonable accuracy * any time the financial posf(ion ol the charity and enable them to ensure that the financial statements compty with the Companies Act 2006. They are 50 reswnsible for saleguarding the assets of the charity and hence lor taking reasonable steps for the preventK)n and deteCt)n of fraud and olher irregularities. Audllor Each of the persons who is a tNstee at the date of apwova] of this reporl confirn thal: $0 far as they are aware. there is no relevant audFt infomiation of which the charity's auditor is unaware" and they have taken all steps that they ought to have taken as a trustee to make themsefvés awa of any relevanl audit Infomation ar to estlsh th the charitvs auditor is aware of that information. Small company provislons This rewrt has teen prepared in accordance wilh the provisions appl lo MpanIeS enlitled lo the small companies exemption.
The Abbeyfield Honiton Society Limiled Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) (conithtxdj Year ended 31 March 2023 The trustees. annu report was aFvoved on .... tnjslees by- . SIgd on thall of the tsoard of G Cumming TreasLJrer K Buchkn Chairman
The Abbeyfleld Honiton Soclety Llmited Company Llmlted by Guaranlee Independent Audltorfs Report to the Members of The Abbeyfield Honiton Society Limited Year ended 31 March 2023 Opinlon We have audiled the financid slatements of The Abbeffjeld Honrton Scaety Limited (the 'charrty'l for the year ended 31 March 2023 which comprise slatement of tinancial activtties (including income and expendrture atC(MJntl, statement ol financi position and the related noles, including a surnmary of significant accounting wlicies. The financial reporting framework Ihal has been applied in their preparation is applicable law aTK£ United KiNJdcxn Accounting StarKlards. includiro FRS 102 The Financiat Reporting StarKlard appIab in the UK and ReWbI of Ireland {Unf(ed Kingdom Generally Accepted Accounting Practice)- In our oplnion the financial statements- give a true and lair view of the state of the charity's affairs as al 31 March 2023 and of ils incoming resour¢xs aThJ applicalkjn of tesources. including rts income aNJ expenditure, for the year then ended., have been property prepared in accordarKe wilh Unf(ed Kingdom Generally Accepted Accounting Practice. have been prepared in accordan wlth the rg]uirements of the Companies AL* 2006. Basis tor opinion We conducted our audil in accordance wilh Intemational Star¥Jards on Auditing IUKI {ISAs {UKII and applicable law. Our respon&bilities ur)der those standards are further described in the auditorfs responsibiltties for the audrt of the financial statements section of our reFK)rt. We are independent of the eharily in accordance with the ethical requiiemenls that are relevant lo our audit of the financial statements in the UK. including ihe FRC'5 Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with Ihese requirements. We believe that the audit evenCe we have obtained is SUfflent and approprtate to provide a basis lor our opinion. Con¢luslons relatlng to going concem In audlting the linanciJ statements. we have corcluded that the trustees, use d the going Concern basL8 of accounting in the preparation of the financaal slatemenls aF)proprtate. Based on the work we have pwf0m1I. we have not KlentifiÈg any material UnrtaInlieS relating to events or conditions that, individualty or colleclivety. may cast siqnrficarn doubt on the charlty's abilty lo continue as a going concein for a FerioKI of at least twejve months from when the financial statements are authorised for issue. Our responsibilities and the resp)nsibilities ot the trustees with respect to going con¢em are described in the relevant sections of this rert. Emphasls of matter The correspondirKJ figures lor the year to 31 Mh 2022 have not been audited.
The Abbeyfield Honiton Soclely Limited Company Llmited by Guarantee Independenl Audilor's Report io the Members of The Abbeyfleld Honilon Soclety Llmited (cwllmied) Year ended 31 March 2023 Other informalion The other information comprises the informalion ircluded in the annual rert, (rthor than the financial slalemenls ar our auditor's report Ihereon. The trustees are responsible lor the other information. Our opinion on the financial slalements does not cover the other informatKJn aThJ, except lo the exlenl otherwise explicitly slated in our report. we do not express any lomi of assurance conclusion Ihereon. In connection wtth our audit ol the financial slatemenls, our resFonsibility is lo read the other information and, in doing so. consider whelher the other information is malerially inconsistent with the financial statements or our knowledge obtained in audil or otherwise appears lo be materially misslated. 11 we identify such material inconsistencies or aFparenl material misslalernenls, we are required lo determine whether there is a material fflisslatement in the financial statements or a material misslalemenl of the other infomialion. If, bas on the woth we have performed, we conclude that there is a material rnisstatement ol this other inlomiation. we are required lo report that fact. We havg nothifVJ lo report in this regard. Oplnlon$ on other matters prescrlbed by the Companies Acl 2006 In our opinion, based on the work undertaken in the cwrseof the audil: the information grven in the trustees. rewrt for finanal year for which the financial statements are prepared is consistent wrth the financi81 statements: aNJ the trustees. report has been yepared in att0rdae wfÉh appIable legal requirements. Matters on which we are rnquired to report by exception In the light ol the knovAe(kJe and UlerStandIng of the chwity and r(s environment obtained in the course ol the audr(. we have not identified malerial MiatementS in the trustees, rewrt. We have nolhing lo report in respect of the following m*lers in relation to which the Companies Act 2006 requires us lo report to you il. in our opinKJn: adequate accounting records have not been kept. or returns uate for our audit have not been received from branches nol vistted by us" or the financial slatements are not in agreement wilh the accounlirKJ records a1 returns,. or certain disclosures of ITvslees' remuneration Stled by law are nol made. or we have not receNed all the information and explanat#)ns we require for our audit. or the truslees were not entr(led io take advantage of the small mpanieS, exemptions in Preparing the directors, reFY)rt and from the requiremenl lo prepare a strategic ieFX)rt.
The Abbeyfield Honlton Soclety Limited Company Llmlted by Guaranlee Independent Auditorfs Report to the Members of The Abbeyfield Honiton Soclety Llmlted Year ended 31 March 2023 ResponslbSlltles of trustees As explaSned more fully in the truslees, respongb¢if(ies slatement, the trustees (who are also the diredors for the purposes ol company law) are rwM)nsitAe for the preparation ol the financial statements and for being salislied ihat they give a tnje and fair view, lor such inlemal control as the trustees detemine is nssary to enable the preparation ol linan¢ial statements that are free trom material misstatement, whetheT due to Iraud or error. In preparing the finan¢lal slatements. the trustees are resFonsible for assessing the charity's ability to Continue as a goirKJ cOnM. disdosing. as applicable, matters related to going concern and usirvJ the going concern basis of accounting unless the trustees etther intend to liquidate the charity or lo cease operations. or have no realBtic aliemative to do so. Audltor's responsibiltties for the audil of the finan¢ial slatements Our objectrves are to obtain reaSone assurance atmxrt wheEtrw thg financial statements as a whole are free from material missLemenl. whether due lo fraud or error, and to issue an audrtor's report that includes our opinion. Fleasonable aSSUrar is a hMJh level of assurance. bul is t a guarantee that an audit conducted in accordance with ISAS IUK} will always detect a rnalerial misstatement when (( exists. Misstatements can arise from fraud or error arKI are considered material rf, individually or in the aggregate, they could r8asonably be eXted to influence the economic decisions ot users taken on the basis of these financial statements. Irregularilies, incliKling fraud. are instarw of n0rrfompllan wf(h laws and regulations. We design proceduies in line our responsibilities, Outlin above, to detect material misslalements in respect of irregularities, including fraud. The extent to which our procedures are c2pable of detecting irregularities, indLtding fraud is detled below.. We identified areas ol laws arKI regulatr(ms that coukj reasonabty be expected to have a material effect on the financial slalements from our general commercial and secloi experience and throug discussion with the twstees and other management. We communicated identifi laws and regulations throughout our team, and remain alert lo any iThJications ol non-compliance throughout the audit. The chaiily ts subject lo laws and regulations that govern the preparatioll of the financial statements, including linanaal reporting legislalion. and other charities legislation. The ¢harty i% also subject to other laws and regulations where the consequen5 of non-compliance could have a material impact on the amounls Of disdosures within Ihe financk41 stemenls. indudiro anti-bribery, anti-money laundering and Certain a8pects of chartties ls1alK)n. Owing to the inherent limf(ations of an audtl, there i8 an unavoidable risk that we may nol have detected some material misslatements in the linancid slatements, even ihough we have properly planned and performed our audit in a(zordan¢e vAth audf(ing standards. In any audst. there remains a hJher risk ol non-detectlon of irregulwilies. as these may involve (X*llusion, forgery, intentional omissions. mlsrepresentalns, or the override of Intern controls. We are not responsible for preventing non-compliance and canmt be eX[ted to det1 non-compliaru Vth all laws and regulations.
The Abbeyfield Honiton Society Limited Company Limited by Guaranlee Independent Auditor's Report to the Members of The Abbeyfield Honilon Society Limited lettInued) Year ended 31 March 2023 As part ol an audrt in accordan wilh ISAS (U. exercise professional judgment and maintain professional Sceptis Ihroughout the audtt. We dso.. Identify aThJ asses5 the risks ol material misstatement of the financid stalemenls, whether due to fraud or error, design aThJ perform audit procedures resFK)nsNe to those risks, and obtain audit evidence that is sufficient and aFvopriale lo provKle a basis lor our opinion. The risk ol not delecling a material misstatement resulting from fraud is higher than lor one resulting from error, as fraud may involve collusion, forgery, lntentKjn omi&8ions, misrepresentations. or the overrKle ol intemal control. Obtain an understarKling of intemal control relevant to the audil in order to design audit procedures that are appropriate in the circumstan. bjt 1 for the purFose of expressing an opinion on the effeclrveness of the intemal C(r(l. Evalvate the approprialeness of accourrting wlicies used arKI the reasonableness ol accountiThJ estimales and related disclosu$ made by the trustees. Conclude on the appropriatene&s of the trustees. use ol the going concern basis of accounliThJ and, based on the audit evidence Obtned. whether a material uncertainty exists related lo events or conditions that may cast signilicant doubt on the charity's ability lo continue as a going concern. 11 we concl& that a material uncertainty exists. we are Tequired lo draw attentK)n in our auditor's report lo the related disck)sures in Ihe linan¢id slalements or, il such disclosures are inadequate, lo modfy our opinion. Our Co[lUSIonS are based on the audit evidence obtained up lo the dale ol our auditorfs reKKsrt. However. future events 01 condttions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation. structure and o)ntent of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and everrts in a manner that achieves fair presentation. 10
The Abbeyfield Honiton Society Llmlted Company Llmited by Guarantee Independent Auditor's Report to the Members of The Abbeylleld Honiton Soclety Limited (condni*) Year ended 31 March 2(r23 We communicate with those charged with g0Veman regarding, among other matters. the planned scope and liming ol the audit and svJnificanl awlit lindings, including any significant deficiencies in inlernal control that we idenirfy during r aud Use of our report This report is made solely lo the chartws members. as a tKxly, in aixordance with Chapter 3 of Part 16 of the Companies Acl 2006. Our awlr( WO has been utKlertaken so that we might state lo the charivs members those matters we are requiied to state to ihem in an auditor's report and for no olhei purpose. To the fullest extent pem)itted by law. we do not accept or assume responsibility to anyone other than the chanty and the chS mwnlHs as a bc¥Jy. for our audr( worK for this report, or for th8 opinions we have lomied. Stuart Carrington FCA For and on behalf of Westcotts ISW) LLP Chartered Accountants Timberty South Street Axminster Devon England EX13 SAD 11
The Abbeyfield Honiton Society Limited Company Limited by Guarantee Statemenl of Financial Actlvltles (including income and expenditure account) Year ended 31 March 2023 2023 Unrestricled funds Total funds Total funds 2022 Note Income and endowments Donations and legacie5 Charitable activities Investment income 36,000 156.592 1,563 36.000 156,592 1.563 124,138 745 Total Income 194,155 194,155 124,883 Expenditure Expenditure on charitable activf(ies Total expenditure 175.170 175.170 151.198 151.198 175,170 175.170 Net in¢omel(expenditure) arml net movement In lunds 18,985 18,985 126,3151 Re¢on¢iliation ol funds Total funds brought forward as previousty rep)rted Prior year adjustment Tolal lurKls brought forward as iestaled Total funds carried forward 790,025 111,5261 778.499 790.025 {11.5261 778,499 804,814 804,814 778,499 797.484 797,484 The slatement of finala1 activftie5 irtludes all gains and klsses reccrfJnised in the year. All income atyl expenditure deTive from continuing aclNities. The notes t)n rAg8s 14 to 21 forni wl of Ihege lingn¢l•l statement& 12
The Abbeyfield Honiton Society Limited Company Llmlted by Guarantee Statement of Financial Poslilon 31 March 2023 2023 2022 Fixed assets Taroible lixed assets 15 632.260 619,362 Current assets Debtors Cash at bank aNJ in hand 16 4.599 167.383 2.026 165,745 171.982 167,771 Creditors: amounts talling due within one year Net curTOnt assels 17 6.758 8,634 165,224 797,484 797,484 159,137 Total assets less currenl Ilablliiles 778,499 778,499 Net assets Funds of the charlty Unrestricted funds-. Revaluation reserve Other unreslricted income fufKIs 175.000 175,000 603,499 778,499 Total unrestricled funds 797.484 797.484 Total charity funds 19 778,499 These financial statements have been prepared in actordarte with Ihe provisions applicable to compantes subject to the small companies. Tegime. These financial statements were approved by the ard ol Inlee$ arKI authorised for Issue on 15.1.g¢il. t3 , and are signed on betAII of the trx)ard by: G Cumming Treasurer K Buckjen Chairman The not¢s on pges 14 to 21 fonn part of these linanelal ststement 13
The Abbeyfield Honiton Society Limited Company Llmiled by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General inlormation The charity is a public benefrt entity and a private CpanY limited by guarantee, registered in England and Wales and a registered charity in England arKI Wales. The address of Ihe registergj offi is Stanhope House. 36 High Street. Honiton. Devon, EX14 1 PJ. ststement ol compliance These financial stalemenls have been prepare(J in (x)MplIan with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement ol Flecommended Practice applicthe to charilies preparing their accounts in accordance wtlh the Firtancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Char1tS SORP IFRS 10211 arKI the Companies Act 2(Xl6. Accountlng pollcles Basls of preparatlon The financial statements have been $xepal on the histoal cosl basis. as modified by the revaluation ol certain finala1 assets and liabilities and investment properties measured at fair value through income or expenditure. The financial slatemenls are prepar in sterling, which is the functional currency ol the entity. Going con¢em There are no material UncertntIeS atrt)ut the charitys abilty to continue. Disclosure exemptions The enlily salislies Ihe criteria ol being a small company as defined in FRS 102. As such, advantage has been taken ol the lollowiNJ disclosure exemptK)ns available.. lal No cash flow statement has been presented for the company. Fund Accounting Unrestricted fuTKls are av&lable for use at the discretion of the trustees to further any of the Chaty's PUTposes. Designated funds are unrestrrted lunds eamiarked by the trustees for particular future project or comrnilment. Restricted fuThls are SULYted to restrictions on thar expeNliture declared by the donor or through the terms of an apped, and tall into one of sub-classes: restricted income funds or endowment funds. 14
The Abbeyfield Honiton Society Limited Company Llmlted by Guarantee Notes to the Financial Statements Year ended 31 March 2023 A¢¢ounting policies fconknwd) Incomlng resourceg All incoming resources are included in the statemerrt of financid actrvities when entitlement has passed lo the charity.. it is probable that th& economic benefrts associated with the transaction will flow to the charity and the amount can reliably measur. The following specific policies are a)1 to particular categories of inme. income from donations or grants is recognised Wh there is evidence of entitlement lo the gift. receipt Is probable and its amount can be measuraj reliabty. legacy income rec¥Jgnised when receipt {able enttllement i8 established. income from donated gcths is measured at the fair ¥ue ol the gcfvjds unless this Is impractical lo measure reliably, in which case the value is derNed from the cost to the donor or the eslimaled resale value. Donated facilities and seNices are rOgnised in the accounts when recewed if the vdue can be reliabty measured. No amounts are included tor the contributKJn of general volunkeers. i1me from contracts for the suppty of seMce5 is re¢ogni5ed with Ihe delivery ol the contracted seNice. This is classilied as unrestred lunts unless there is a corrtractual requirement for r( to be spent on a partiojlar PUfFose returned rf unspent, in which case it may be regarded as restrided. Resources expanded Expenditure is recognised on an a¢cruS basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is dassified under headings ol the statement ol financial aclivsties to which il relates- exFenditure on rwsing furxts indudes the costs cl all fundraising activities, 8V8nls, non-charitable trading activiti&s. and the sale of donated gChS. eXndItUre on charitable actNrties includes costs incurred by a charity in undertaking activities that further Its ¢haritable alms lor the bonefit of ils benefi¢iaries, including those support costs and costs relating lo the govemance of the charity apportioned lo charitable activrttes. other expenditure indudes atl expenditure that is neither related lo raising funds for the charrty nor part of its expendrture on charitable ac1tlieS. All costs are allocated to expenditure categories refltINj the use ot the resource. Direct costs athibutable to a single actNity are all(at& directly to that aclNty. Shared costs are apportioned beeen the activities they contrtlxjle io on a reasonable, justifiable and consislenl basis. 15
The Abbeyfield Honiton Society Limited Company Limlted by Guarantee Notes to the Flnanclal Statements Year ended 31 March 2023 Aeeounting polldes (co1na} Flnanclal instrumth A financlal asset or a financial liability is recogni1 only when Ihg entlty becomes a paty lo the contractual provisK*ns of the instrument. Basic financial instruments are inrtially recognised at the amounl recesvable or payable including any related transaction costs, unless the arrangement constttutes a financing transaction, where it is iecognised at the present vve of the luiure payments discounted at a market rale of int8rest lor a similar debt instrument. Current assets and rrent lithlities are subsequenuy measurwj al the cash or other consideration expect&J to be paid or received and not discounted. Defined contribution plans Contributions to deflned contribution plans are recognised as an expense in the period in which the related seNice is prOved. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduCtn in future payments or a refund. When contributions are nol expected to be Settl wholty within 12 months of the end of the reporting date in which the employees render the relal&J service, the liability 15 measured on a discounted present vaiue basis. The unwinding of the discount is recognised as an expense in the period in which tr arises. Llmlted by guaranlee The Chartty Is Ilmited by guaranlee. Each cl the Iwstees is liabte to contribute an amount not exceeding £1 towards the assets of the Charty in the event of liqutdation. Donatlons and legacies Unr8stricted Total Funds Unrestricted T¢)tai Funds FulS Funds 2022 Other donations and legacles Other donations arKI legaCS 36.000 36,000 Charitable actfvllies Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Othgr Income 156,592 156,5 124.138 124,138 17
The Abbeyfield Honiton Soclety Limited Company Limited by Guaranlee Notes to the Financial Slalements (¢thW Year ended 31 March 2023 Inveslrnenl income Unrestricted Total Funds Unrestricted Total Funds Funds Funds 2022 Bank interest re[Vable Other INVMent income 576 169 576 169 1.563 745 745 Expendilure on charilable acttvities by nd type Unrestricted Total Funds Unrestricled Total Funds Funds 2023 Funds 2022 Direct activities Support costs 100.767 74,403 100,767 74.403 99,834 51,364 99,834 51,364 151,198 175,170 175.170 151,198 Expondlture on charitable aclivities by activity type Activrties undertaken directly Support o)sls Total funds 2023 Total lurKI 2022 Direct activities Governance costs 100,767 64,969 9,434 165,736 9,434 147.008 4,190 100.767 74,403 175,170 151,198 10. Analysis of support costs Analysis of SUPFKJrt ¢o$ts Total 2023 Total 2022 Premises Communicalions aNI IT General office Finance costs Govemance costs 49.760 1,155 14,054 49,760 1,155 14.054 36,473 1,854 8,709 138 4,190 74.403 74,403 51.364 18
The Abbeyfleld Honiton Soclety Limited Company Llmited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 Accounting pollcles {ct7ntth Tangible assets Tangible assets are initially recorded at cosL arKI subsequentty staled al cost less any accumulated depreciation arKI impwrment losses. Any tangible assets carried at revalued amounts are recorded al ihe fair value at the date of revaluation less any svbsequenl accumulated depreciation and subsequerrt accumulat impairfflenl k)sses. An increase in the carying amount ol an asset as a resutl ol a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge lor impaimient that has previously been recognised as expenditure wilhin ihe statement ol financial actrvilies. A decrease in the carrying amount of an asset as a resum of revaluation, is recogni5ed in other reo)gnised gains and losses, except to which it offsets any previous revaluation gain. in which case the bss is shown within other recognised gains and losses on the slalemert of financial aclNilies. Depreclation Depreciation is calculated so as to write off the cosl or valuation of an asset. less its residual value. over the useful economic lrfe of that asset as follows.. Fixiures and littings 1 slraight line There is no charge for depreciation In resixl of Ihe freehold property. as the residual value is expected lo be at least equd lo cost. Impairrnent ol fixed assets A review lor indicators of impairmenl is ¢wried OLrt al each reportirvJ dale. with the recoverab18 amount being estimated where such indicators exi81. Where the carrying value exceeds the recoverable amount. the asset is Impair a(rdIrly. Prior irnpaimients are also revi8W8d lor possible reversal al each reporting dale. For the purposes of impairment tesliTrJ, when it is not wssible to estimate the recoverable amount ol an individual asset, an estimate is made of the recoverable amount of the cash-generating unr( io which Ihe asset L*5ongs. The cash4Jenerating unit IS Ihe smallest idenliliable group of assels thal includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups ol assets. For impairment testing of go111. the gcM)dwill acquired in a business mbinatIon is, from the acquisrtK)n dale, allocated to each of the cash-geneTaling units that are expected lo benefit from the synergies of the cwbinalion. irrespectNe ol whether other assets or liabililies of the charity are assigned lo Ihose unils. 16
The Abbeyfield Honiton Society Limited Company Llmlted by Guarantee Notes to the Financial Statements (Cl¥In} Year ended 31 March 2023 11. Nel Income1{expdIture> Net inMe/(expendIture) is stated after chargirW{credititYJ): 2022 Depreciation of tanglble frxed assets Loss on diswsat of heritage assets 1,116 1,116 1,478 12. Accountants, fees 2023 2022 Fees payable lo the accouniant for: Independent examination of the financial statements Audit of the financial ateMentS 1,200 2.500 13. Stalf costs The average head count of employees during the year was 10 {2022.' 10). No employee r1Ve employee benefits of more than £60,000 durtng the year12022: Nil). 14. Truslee remuneratlon and expenses No remuneration or other beneftts from employment wrth the ¢haTty or a relaled entrty were received by the Irustees. No trustee expenses have been incurred during Ihe year. 15. Tangible fixed assets Freehold Fixtures and propety fittings Total Cost At 1 April 2022 Additions 609,317 14,014 61,393 670,710 14.014 At 31 March 2023 23.331 61,393 684,724 Depreclation At 1 April 2022 Charge for the year At 31 March 2023 51,348 1,116 51,348 1,116 52,464 52,464 Carrying amount At 31 March 20rJ 623,331 8,929 10,045 632,260 619,362 At 31 March 2022 609,317 19
The Abbeylield Honiion Society Limited Company Limited by Guaranlee Notes io ihe Flnanclal Statements (conv) Year ended 31 March 2023 16. Debtors 2023 2022 Prepayments and accru&J income 4,599 2,026 17. Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income Social security and other laxes Other (xedilors 3,458 3.3CNJ 5,670 1,200 1.023 741 6,758 8,634 18. Pensions and other posl rellrement bener Defined Contri1110n plans The amounl recogniqed in income or expendilure as an expense in relation to delin&J contribution plans was £1.18412022: £1.766}- 19. Analysis ol eharltable funds Unrestricted funds At Prior year 31 March 202 Income ExperKlrture adjuslmenls At 1 April 2022 General funds Revaluation reserve 615.025 175.000 790.025 194,155 (175,170) 111.5261 622,484 175,000 194,155 1175,1701 111,5261 797,484 At Prior year 31 March 202 Income Expendf(ure adjustments At 1 April 2021 General funds Revaluation reserve 629,814 175,000 124.883 1151,1981 603.499 175,000 804.814 124,883 1151,1981 778,499
The Abbeyfield Honiton Society Limited Company Llmlted by Guarantee Notes to the Financlal Slatements (QLvth Year ended 31 March 2023 20. Analysis of n81 assels between lunds Unrestrict&J Total Funds Funds 2023 Tangible fixed assets Current assels Creditors less than 1 year 632,260 171.982 {6.758) 797.484 632.260 171.982 16,758) 797,484 Net assets Unreslricted Total Funds Funds 2022 Tangible fixed assets Current as5els Creditors less than 1 year 619,362 167,771 18,6341 778,499 619,362 167.771 {8,6341 Net assels 778,499 21. Prlor year adjustmen1$ The prior period error shown in the accounts relates to the correction of Ihe brought lOard revaluation reserve balance. 22. Post balan¢e sheel events After the erKI of the finan¢iai year, The Atr*Jeyfiekl {Cotyton) Scciety Ltmileds activities were combined with Abbeylield Honilon and the operations are now run as one single legal entity. 23. Related parties During the year, Abbeyfiekl Honf(on paKI £10.908 to The Abbeyfiekl {Colylonl Soclety Limited for seNices provided and reimixjrsement of costs. al an arms length basis. The Atrkneylield Cowon has executive ¢ommittee members in common v•ith the trustees of AbLwfiekJ Honiton. 21