Company Reglstratlon Number 00945603
Charity Registration Number 257782
Housing Corporation Registration Number H0340
ABBEYFIELD BRAINTREE, BOCKING
AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
31 MARCH 2025

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
CONTENTS
Pages
Reference and administrative details of the charity,
its directors and advisers
Strategic report of the directors
Directors, report
Independent auditor's report
Statement of comprehensive income
(including income and expenditure account)
19
Statement of changes in equity
20
Balance sheet
21
Statement of cash flows
22
Notes to the financial statements
23-35

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY,
ITS DIRECTORS AND ADVISERS
Board (Directorsrrrustees}
Anthony Cramphorn (Chairman)
lan Norgeti
(VI￿ chairman)
David Summersgill
Barbara Guest
Martin Quaife
Michael Barry
Paul Archer
Catharine Hutley
Yvonne Havis
Pam Fensome
(Appointed 3 April 2025)
(Resigned 9 October 2024)
(Resigned 18 August 20251
(Resigned 17 May 2024)
Company Secretary
Michele Quaife MBE
Senior Personnel
Michele Quarfe MBE Operations Manager
Dol Wheeler
Registered Care Manager
Diane Fitzgerald
Marketing Manager
Dionne Hayes
Finance Manager
Lyndsay Parker
Manager, Polly's Field
Alison Goldstein
Manager, Great Bradfords House
Sandra Ryder
Manager, Wickham House
Cass Murray
Manager, Felsted House
Location of Residential Sites Polly's Field Village
Church Lane
Braintree
Essex
CM7 5XD
Wickharn House
338 Coggeshall Road
Braintree
Essex
CM7 9EH
Great Bradfords House
159 Coggeshall Road
Braintree
Essex
CM7 9GD
Felsted House
Jo11yboys Lane North
Felsted
Essex
CM6 3DU

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY.
ITS DIRECTORS AND ADVISERS
Registered Office
Wickham House
338 Coggeshall Road
Braintree
Essex
CM7 gEH
Reglstration Numbers:
Company
Charity
Housing Corporation
00945603
257782
H0340
Bankers
The Co-operative Bank
Delf House
Southway
Skelmersdale
WN8 6V
statulory Audilor
Lambert Chapman LLP
Chartered Accountants and Registered Slalutory Auditors
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
The Directors are pleased lo present Iheir strategic report on the affairs of the charitable company,
together with the audited financial statements for the year ended 31 March 2025, incorporating the
reference and administrative infomation on pages 1 and 2.
This report also represents a Trustees, Report prepared in accordance with the Charities Act. For
Ihe purpose of this report reference to Directors is also lo be taken as reference lo Trustees.
Structure, governance and management
Current constitution
The Abbeyfield Braintree, Bocking and Felsled Society Limited is a charitable company and
registered social housing provider, limited by guarantee. The liability of the members in the event
of the company being wound up is limited lo a sum r)ol exceeding £1 each. Membership is restricted
to Directors of the Society.
The Society was incorporated on 8 January 1969 (company number 00945603). It was registered
as a charity (registration number 2577821 on 12 February 1969.
The Society is governed by its Memorandum and Articles of Association.
The Society is an affiliate of Abbeyfield England. a national organisation, lo whom it pays an annual
fee in return for some support services, an accredilation scheme, some national markeling and
national representation. The Society is entirely independent of the national organisation, and free
to set its own policies and practices, but does acknowledge and adhere lo the latter's ethos.
The Society operates 'very sheltered, homes at Wickham House, 338 Cogge5hall Road, Braintree
and at Felsted House, Jollyboys Lane North, Felsled. There is an 'extra care, estate al Great
Bradfords House, 159 Coggeshall Road, in Braintree, and opened in January 2022 a Retirement
Living and Extra Care scheme named Polly's Field Village in Church Lane, Bocking. Braintree.
Wickham House provides 17 en-suite studios. Felsted House provides 14 en-suite sludios. Great
Bradfords House provides 33 one-bedroom flats and 2 two-bedroom flats and Polly's Field provides
39 one bed-room and 60 two bed-room flats of which 37 are deemed lo be 'affordable' and thus
nominated to the Local Authority for occupation as social housing with the remainder being offered
for sale as fully owned or part share {part owned. part rented). and a small number fully rented.
Tenants, rents are sel each year in accordance with budgeted costs having regard for
recommendations made by Homes England.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
Appoinlment of Directors, induction and training
New Direclors are expected to bring skills and experience relevant to the needs of the organisation
and lo complement or add to the skills of existing Directors. They undergo a briefing session to
inform them of their legal obligations under charily and company law. and to introduce them to the
Memorandum and Articles of Association, the slrategy, business plan. and governance and
management structures of the organisalion. As part of this induction. they are handed an induction
pack comprising of the Society's administrative structure, the roles and functions of Directors as
recommended by Abbeyfield England, a job description, together with current financial information.
The Society has adopted the Homes England standards for Value for Money, Rents, Tenant
Empowerment and Governance and Financial Viability, copies of all these also fomi part of the
induction pack. The new Director will be introduced lo key employees and other Directors. They will
receive information on relevant external training events and are encouraged to attend.
All Directors are required to make an annual declaration of personal interests.
One third of the Directors must relire by rotation each year but are eligible for re-election.
The Directors retiring at the Annual General Meeting in October 2024 were Mr D Summersgill and
Mr M Quaife and being eligible were duly re-elected lo the Board. The Directors retiring al the next
Annual General Meeting will be, Mr l Norgett. and being eligible he will be proposed for re-election.
The Board Committee
The Articles ofAssociation govem the appointment oflhe Board Committee which provides that the
ommittee shall consist of no less than three and no more than eighteen members.
The Board Committee is made up of Directors and such selected senior personnel as are
appropriate. The Board Committee administers the Charity. This meets five times per year. its
purpose is to determine strategy. direct. control and scrutinise and evaluate the Society's affairs.
The Committee has the power to appoint Board Committee members to fill a casual vacancy.
There are also several sub-committees. The Finance and Governance Sub-committee, compnsing
the Finan￿ Mana9er, Operations Manager and up io three Directors with accountancy, finance or
governan￿ backgrounds, meets monthly as appropriate to review and approve the monthly
management accounts. prepare and recommend any budgets and forecasts. investigate and
recommend the appropriate investment policy for the Society and generally to steer all financial
aspacts of the operation. Then at every Board Committee meeting to recommend Ihe adoption of
the management accounts. This sub-committee has adopted in full The Governance and Financial
Viability Standard published by Homes England and complies with every clause insofar as it applies
lo organisations of the size of the So¢iely.
An Operations Sub-committee meets on an ad hoc basis to provide guidance to management
personnel when issues of policy are Ghallenged, or strategic decisions require a rapid respons8.
Other sub-committees are forrned as required and are responsible for Safeguarding, Fund-raising,
and Procurement.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
Day lo day management of the charity is performed by the Operations Manager, the Registered
Care Manager, the Finance Manager, Managers of Polly's Field Village. Great Bradfords House.
Wickham and Felsled Houses and senior personnel who have considerable delegated powers. The
Operations Manager, who also carries the responsibility of Company Secretary, remains in dose
contact with the Directors to facililate a responsive and effective management structure.
Core responsibilities of the Executive Committee
The Board Committee has adopted the recommendatsons of the Homes England code of
practice for Trustees.
Setting and ensuring compliance with the vision, values, mission and strategic objectives of
the Society, to ensure long term success.
Satisfying itself of the integrity of the financial infomiation, approving each year's budget
and business plan and annual accounts prior to publication.
Establishing. overseeing and reviewing annually a framework of delegation and systems of
internal control.
Establishing and overseeing a risk management framework, lo safeguard Ihe Society's
assets.
An annual declaration ol relevant interests.
The Board Committee has set out and published where appropriate, its response 10 8ach of the
above factors and looks forward with confidence to the ensuing long-tem success of its strategic
objectives.
Mlsslon statement and strategic objectives
The Society's mission statement is..
To provide a comfortable altemative home environment for older people who chos8 not to
live alone.
To give Ihem the freedom to choose as muGh or as little involvement in communal living as
they want.
To enable care,. and provide support for the frail and elderly.
To encourage the sharing of existing skills among residents and to facilitate new skills for
all residents.
To achieve this with courtesy and humility.
The Society is committed lo the principles of equality, diversity, and inclusion regardless of age,
gender, ethnicity. race, disability, or religion. 11 is a stated objective of the board that employees
should feel valued and be appropriately rewarded. The Society believes that its remuneration
package5 are competitive within the local marketplace.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
Intèrnal financial control
The Board Committee has in place a system of controls that are appropriate to the various
businesses in which il operates. These controls are designed to give reasonable assurance with
respect to=
The reliability of financial infomialion within the Society before, during and after each
financial year and for publication.
The mainlenance of proper accounting records.
The safeguarding of assets against unauthorised use or disposition.
There are formal policies and procedures. including documentation of key systems and rules in
relation to the delegation of authorities. which allow monitoring of controls and restrict the
unauthorised use of the Society's assets.
Exp8ri8nc8d and suitably qualified staff take responsibility for day-to-day business operations.
Budgets are prepared annually which allow the Board Committee through the Finance sub-
committee lo monitor monthly the key business risks. financial objectives and progress towards the
set financial plans.
Regular financial infomiation is provided to ensure that any significant Varian￿ from budget is
investigated.
All significant new inilialives, major Gommitments and inv85tment projects are subject to fomial
authorisation by the Board Committee.
There are procedures for instituting appropriate action lo correct any weakness identified by the
exlemal auditors or the Board Committee.
Risk Review
The Board Committee continues to review the major financial and non-financial risks lo which the
charity is exposed. In the most recent review, dated March 2025 identifies the risks with the highesl
probability of recurring. This was considered to be the revenue implications from data management
breaches and loss of income, partial or total, potentially arlsing from fire or floods. The issue of
ongoing excessive voids in two existing properties was categorised as having a medium probability
of occurring as was the possibility of the Care division moving from break-even to losing money,
the continuity of Irusteeslvolunteers. Ihe impact from new pandemics, the ongoing availability of
funding for the elderly for housing and benefits. Abbeyfield England falling into financial difficulties.
supplies and stock management, safeguarding from all forms of abuse, and the failure of the
Contractor to rectify snagging faults at Polly's Field (PF).
The main risk continues from spyware and computer viruses and the prevalence of this seems
greater and its potential impact on the ability of the business lo protect its tenant records and
financial information is more important than ever before. The risk from fire or flood concems PF
primarily as re￿nt surveys suggest that the house is not yet fully fire compliant. Voids are not as

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
severe a risk as lasl year as the 'Polly's Field effe¢l' is much diminished now the house has been
full for two years and the smaller schemes have relumed to their more conventional voids position.
In the case of every risk identified, systems have been established lo mitigate those risks, including
financial, operational, health and safety surveys as considered appropriate.
Internal risks are minimised by the implementation of policy and procedure reviews, financial control
and regulation procedures. These procedures are regularly reviewed to ensure thal they still meet
the needs of the charity.
Operational review for tho year ended 31 March 2025
Voids have been mentioned already, however Social Services do not market very sheltered housing
schemes therefore we are reliant on our own marketing for both these schemes, PF and Gl
Bradfords House IGBH) continue to have wailing lists.
During the year at PF we bought back three properties and sold five. Two of the five which were
sold were privately renled during the financial year 23124 prior lo them being purchased by the
occupiers in the financial year 24125.
There were a considerable number of new snagging issues arising in the year. The Society settled
with the contractor the retentions in the sum of £351,818.66 in July 2024. A negotiation was
concluded in respect of the final account which was settled for £68.777.05 in July 2025. The Society
is currently in the prO￿sS of rectifying the outstanding 'snags'.
Business at the Society's other houses continued uninterrupted with capital expenditure still being
monitored to reflect the voids position.
The Society meets its commitment to provide Social Benefit through its policy of housin9 and care
for elderly and vulnerable adults.
Flnanclal review
The Society's tumover has increased by £330,996 over that achieved in 2024. an increase of
9.280/9. Costs in the same period have increased £170.666 or 5.130k which is a great credit lo the
management al all levels. The excess of income over expenditure has resulted in a operating
surplus of £398,904 for the year. an incr8as8 of £160,330 over 2024.
The overall assets of the Society (less its liabilities and creditors} have similarly increased during
the year, from £5,738,719 to £6.239,848. A summary of the Society's assets can be found on page
21 of the following accounts.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
The income from the Polly's Field flats is recognised at 10A each year for a maximum of 10 years
of occupancy. As an example, a flat with a value of £300,000 would result irs £3,000 being
recognised as income each year until the Society buys back the flat. The Polly's Field flats are
based on market values, meaning that the income received from the same flat in the future after its
subsequent re-sale would be £3,500 each year if it was d8em8d to be valued at £350,000 ahead
of its second sale.
Income from Rent and Service charges increased by £231,638 on the previous year assisted by
voids which were £97,174 down on 2024. Care income at both Gt Bradfords House and Polly's
Field was down approximately £5,000 on 2024 which highlights the difficullies of operaling a highly
volatile business while retaining care staff on fixed contracts as opposed to zero hours. We cannot
avoid resident's care package requirements changing continually according to their needs and
length of stay.
The Balance Sheet continues to show a strong position with short temi creditors falling by over
£300,000. Debtors rising by only £74.757 and cash flows remain positive and prospects for the
coming year very encouraging.
The full results are shown in the attached fsnancial statements.
Achievements and performanca indicators
During the year. the Society provided long term housing for 160 elderly and largely vulnerable
adults, of whom 27 were in receipt of Housing Benefit at 31 March 2025. There was no provision
for respite care in the period.
Slaff lumover was 20Vo in the year.
The average age of fesidents was 83 and the average length of stay just over 3 years.
The Directors budget for carrying out a five-year cycle of painting and decorating of each property.
This work has been re-started now that there is much reduced demand on the Society's available
finances in respect of Polly's Field. The exteriors of Gt Bradfords House and Wickham House have
since been cleaned and re-painted. Internal make-overs continue including the replacement of
fumiture and other fittings in Great Bradfords. Felsted and Wickham Houses.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
Value for money
The Society is constantly working to manage its resources to maximise cost effectiveness, for
example the provision of solar panels. regular renegolialion of utility contracts and competitive
tendering for larger contracts and negotiating small contracts sometimes using Trustee's expertise.
These strivings for greater efficiency are always carried out with the proviso of providing quality
serVi￿S to meet tenants, and potenlial tenants, needs.
The Society is very conscious of the need to achieve a financial retum in line wilh its targets and
performance to match the expectations of residents.
The Society considers value for money has been maximised when there is an optimum balance
between the following three-. realistically low costs, efficiency and the successful provision of a
quality servi￿.
The focus of the Society's value for money program continues to embrace its approach to
budgeting. risk management. auditing. interesl rates. inlemal financial control, service quality, voids
management, energy consumption and planned maintenance.
In the past the Society has not been averse to disposing of poorly performing properties, nor of
making major changes to management practices. Such difficult decisions are taken against the
backdrop of improving financial return, coupled with protecting the lifestyle of the communities il
serves.
Reserves policy
The Board has established a policy whereby the unrestricted funds not committeé or invested in
tangible assets ('free reserves,) held by the Society should be equivalent of at least six months.
gross rental and Servi￿ charge income. The purpose of this reserve is to mitigate any financial
losses arising from unforeseen operational trading circumstances that might jeopardise the viabilily
of the business. This is now just over £2,000,000 and appears in note 13 as Revenue reserve.
The notes to the accounts set out details of all the ￿serveS held. and the Society's proposals for
them.
The largest designated reserve is to match the investrnent in fixed assets (net of related social
housing grants) held on the Balan￿ Sheet, to ensure that sufficient funds are available to keep the
properties in a good state of repair and to allow for the replacement of furniture, fixtur8s and fittings
as necessary.
At 31 March 2025 the Society's total reserves amounted to £6,239.848. Of this, £4,029,270
represents designated unrestricted funds and £2.210.578 represents unrestricted undesignated
funds
Investment policy
The executive committee has approved a policy of investing surplus funds with recognised banks
and building societies, with a maximum of £500.000 in any one institution, over periods varying from
instant access to 24 months deposits. At 31 March 2025 the Society had circa £1,308,931
on deposit.

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
Fund-raising policy
The Society sets out lo raise funds by the following means..
1. Inviting members of the public and residents to consider donating to the Society by way of
legacies.
2. Inviling members of the public and residents lo make cash gifts to the Society.
3. Holding events and functions. the proceeds of which go to the Society.
4. Making approaches to Foundations, Instilutions and other Charities for grants and loans for
specific projects.
5. Setting up of'Just Giving" pages and joining professionally run fund-raising groups such as
"Easy Fund Raising..
6. The appointment, from time to time, of a professional fund raiser to approach National and
Local charitable organisations on ils behalf. Such an individual, would be a member of the
Institute of Professional Fund Raisers, and be bound by their fundraising standards.
The Soci8ty is not aware of any complaints concerning its fundraising activities in the year
Plans for the immediate and short-term future
The Directors approved a new operational priority schedule in April 2025 for the period ahead
through 2025126. This reiterated five on-going aims, all to do with the delivery of an improving
service to residents coupled with greater operational efficiencies.
In addition, seven immediate operational priorilies were approved for implementation in this
financial year:
1. Upgrading the Society's computers to Windows 11 update due in October 2025
2. Re-decoration of Ihe exterior of Wickham House
3. Procurement at its most competitive of utilities, services and consumables coupled with
enhancing and maximising the use of our plv installations..
4. Resolve the Astrolurf defects al Polly's Field Village and improve disabled access to same.
5. Transition to Digital care planning.
6. Relaying the emergency road at PFV
7. Attending to thè outstanding fire compliance issues at PF.
Among the next short-lerm objectives are the following..
1. Vinyl flooring of the dining area at PFV, and providing furniture for the pod areas
2. To consider replacing the wooden pergola at Wickham House provided the issue of voids
can be addressed going forward.
3. To estsblish a Hardship Fund to assist those residents who have limited ac￿$5 to finance.
Of the immediate operational priorities referred to last year the interior furniture and redecoration of
the Gommunal areas to Wickham. Gt Bradfords and Felsted were completed as was the upgrading
of th8 Tunstall system at Gt Bradfords.
10-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, STRATEGIC REPORT
YEAR ENDED 31 MARCH 2025
2025126 and beyond
The Trustees feel that as Polly's Field Village is now fully up and running, they should direct the
Society's financial resources to improving the external appearance and internal attraction of their
other properties, hence the decisions recorded in the 'Plans for the immediate and short-term future,
above. It is also considered that making these sites more appealing should be the best way to
address more voids occurring.
It has been menlioned that the Truslees had decided lo research the market opportunities for further
expansion in the Colchester area of another facility along the lines of their Polly's Field
development. Enquiries have been made to try to identify a suitable site or partnership proposition,
still with no positive result.
Of equally important concern is the matter of having a sufficiently largé and eXperien￿d team of
committed trustees to advise and direct the management. The Articles provide for a maximum of
18 members of the trustee commillee. Currenlly there are 7, two of whom live a considerable
distan￿ away from Braintree and a number of whom are in or approaching their 80's. Approaches
continue to be made to increase this committee by at least two persons.
Finally
None of this is possible without the full co-operation of the Directors, and their willingness to
participate. voluntarily. in the many functions and activities demanded of a progressive and
successful charity such as Abbe￿ield Braintree. Bocking and Felsted Society Limited.
The Directors readily acknowledge the efforts of all slaff to achieving the results outlined above and
will continue lo guide and direct them in delivering a value for money service combined with a
compassionate and sympathetic approach to the wellbeing of residents.
The Directors are ever grateful lo the many donors and benefactors who have generously supported
the Society during the year.
ned by order of the Executive Committee on 1510912025
orn
Chai
an
l Norgett
Vice Chairman

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, REPORT
YEAR ENDED 31 MARCH 2025
The Directors are pleased lo present their report for the year. The financial statements are prepared
in accordance with Financial Reporting Standard 1021"FRS 1021. The Directors shown below
have held Offi￿ during the period from 1 April 2023 to the date of this report unless shown
otherwise.
Mr A Cramphom (Chairman)
Mr l Norgett
(VI￿ Chairman)
Mr D Summersgill
Mrs B Guest
Mr M Quaife
Mr M Barry
Mr P Archer
(Appointed 3 April 2025)
Mrs C Hutley
(Resigned 9 October 20241
Mrs Y Havis
(Resigned 18 August 2025)
Mrs P Fensome (Resigned 17 May 2024)
Statement of Directors, Responsibilities
The Directors, who are also Trustees ofthe Societyfor the purposes ofcharily Law, are responsible
for preparing the financial statements in accordance with applicable law and United Kingdom
Generally Accepted Accounting Standards. The Difectors, Report also represents the Trustees,
Report which is required by Part 8 of the Charities Act.
Company law and social housing legislation require the Directors to prepare financial statements
for each financial year which give a true and fair view of the state of the affairs of the Society and
of the incoming resources and application of resources, including the income and expenditure, of
the Society for that period. In preparing these financial stalemenls, the Directors are required lo..
select suitable accounting policies, and apply them consistently..
observe the methods and principles in the Registered Social Landlords Statement of
Recommended Practi￿.
make Judgements and estirnates that are reasonable and prudent.,
state whether applicable UK Accounting Standards and the Statement of Recommended
Practice 'Account by Registered Social Landlords, (2010) 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 Society will continue in operation.
The Directors are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the Society and enable them to ensure that the
financial statements complywith the Companies Act 2006, the Housing and Regeneration Act 2008
and the Accounting Requirements for Registered Social Landlords General Detemiinalion 2006.
They are also responsible for safeguarding the assets of the Society and hence for taking
reasonable steps for the prevention and detects'on of fraud and other irregularities.
12-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
DIRECTORS, REPORT
YEAR ENDED 31 MARCH 2025
The Directors have had regard to the public benefit guidance issued by the Charity Commission
and have complied with the duty in Section 17 of the Charities Act. They believe that the description
of the Society's aclivities in this annual report shows evidence that those activities carry out the
charity's aims for the public benefit.
The Directors confirm thal, so far as they are aware, there is no relevant audit informalion of which
the Society's auditor is unaware. They have taken all steps that they oughl to have taken as
Directors in order to make themselves aware of any relevant audit information and to establish that
the auditor is aware of that information.
During the year a Trustees, Indemnity Insurance policy was in place. This is included wthin an
affiliation fee and, as such, the premium paid in respect of this policy is not separately identifiable.
Auditors
The audilor, Lambert Chapman LLP, will be proposed for reappoinlment in accordance with section
485 of the Companies Act 2006.
Registered office..
Signed by order of the Executive Committee
Wickharn House
338 Coggeshall Road
Braintree
Essex
A. Cramphorn
Chairman
l. Norgelt
Vice Chair
CM7 9EH
Approved by Ihe Direclots on .
13-

INDEPENDENT AUDITOR'S REPORT TO THE BOARD MEMBERS OF
ABBEYFIELD BRAINTREE, BOCKING AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
YEAR ENDED 31 MARCH 2025
Oplnlon
We have audited the financial statements of Abbeyfield Braintree, Bocking and Felsted Society
Limited (the 'Sociely'l for the year ended 31 March 2025 which comprise the Statement of
Comprehensive Income (including the Income and Expèndilure Accounll. Statement of Changes in
Equity, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a
summary of significant accounting policies. The financial reporting framework that has been applied
in their preparation is 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 PradiGg).
In our opinion, the financial statements..
give a true and fair view of the state of the Society's affairs as at 31 March 2025 and of ils
income and expenditure for the year then ended-
have been properly prepared in accordance with Uniled Kingdom Generally Accepted
Accounting Practice., and.
have been prepared in accordance with the requirements of the Companies Act 2006, the
Housing and Regeneralion Act 2008 and The Accounting Direction for Private Registered
Providers of Social Housing from April 2019.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilitiés for the audit of the financial slalemenls section of our report. We are independent
of the Society in accordance with the ethical requirements that are relevant lo our audit of the
financial statements in Ihe UK, including the FRC'S Ethical Standard, and we have fulfilled our other
ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficienl and appropriale lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfornied. we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on Ihe entity's ability
to continue as a going concern for a period of al least twelve months from when the financial
statements are authorised for issue. Our responsibilities and the responsibilities of the directors with
respect lo going concern are described in the relevanl sections of this report.
14-

INDEPENDENT AUDITOR'S REPORT TO THE BOARD MEMBERS OF
ABBEYFIELD BRAINTREE, BOCKING AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
YEAR ENDED 31 MARCH 2025
Other information
The Directors are responsible for the olher information. The olher information comprises the
information included in the annual report other Ihan the financial slalements and our auditor's report
thereon. Our opinion on the financial statements does nol cover the other information and, except
to the extenl otherwise explicitly staled in our report, we do not express any fom of assurance
conclusion thereon. In connection with our audit of the financial statements, our responsibility is to
read the other information and, in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the audit or othewise
appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required lo determine whether there is a material misslalemenl in the
financial statements or a material misslalement of the other infomiation. If, based on the work we
have performed, we conclude that there is a material misslalemenl of this other information. we are
required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course ofthe audil..
the infomiation given in the Strategic Report and the Directors, Report for the financial year
for which the financial statements are prepared is consistent with the financial statements.,
and
the Strategic Report and the Directors, Report have been prepared in aGcordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Society and its environment obtained in the
course of the audit, we have not identified material misststements in the Strategic Report or the
Directors, Report.
We have nothing to report in respect of the following matters in relation to which the Companies
Act 2006 requires us to report to you if. in our opinion..
adequale accounting records have not been kepl, or relurns adequale for our audit have
not been received from branches nol visited by us- or
the financial stalemenls are not in agreement with the accounting records and returns- or
certain disclosures of directors, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.
15-

INDEPENDENT AUDITOR'S REPORT TO THE BOARD MEMBERS OF
ABBEYFIELD BRAINTREE, BOCKING AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
YEAR ENDED 31 MARCH 2025
Responsibilities of the Directors
As explained more fully in the statement of Dire¢tors' responsibilities statement in the Directors,
Report, the directors are responsible for the preparation of the financial slalemenls and for being
satisfied that they give a true and fair view, and for such internal control as they determine is
necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In p￿parIng the financial statements, the Directors 8re responsible for assessing the Society's
ability lo continue as a going concern, disclosing, as applicable, matters related to going concem
and using the going con￿rn basis of accounting unless the Board either intend to liquidate the
Society or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assuran￿ about whether the financial statements as a
whole are free from material misstalemenl, whether due to fraud or error, and to issue an audilorfs
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always delect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence th6
economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities. outlined above, to detect malerial misslatemenls
in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of
malerial misslalemenl in respect of irregularities. including fraud and non-compliance with laws and
regulations, was as follows..
the engagement partner ensured Ihat the engagement team collectively had the
appropriate competence, capabilities and skills to identify or racognise non-
compliance with applicable laws and regulations-
we identified the laws and regulations applicable lo the charity through discussions
with directors and other management.,
we focused on specific laws and regulations which we considered may have a direct
material effect on the financial statements or the operalions of the company,
including the Companies Act 2006, The Care Quality Commission. Social Housing
requirements, taxation legislation and data protection, employment and health and
safety legislation.
we assessed the extent of compliance with the laws and regulations identified above
through making enquiries of management and inspecting legal correspondence.. and
identified laws and r6gulations were communicated within the audit team regularly
and the team remained alert to instances of non-compliance throughout the audit.
16-

INDEPENDENT AUDITOR'S REPORT TO THE BOARD MEMBERS OF
ABBEYFIELD BRAINTREE, BOCKING AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
YEAR ENDED 31 MARCH 2025
Auditor's responsibililies for the audit of the flnancial statemenls {contlnued)
We assessed the susceptibility of the charity's financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by.,
making enquiries of management as lo where they considered there was susceptibility
to fraud, their knowledge of actual, suspected and alleged fraud. and
considering the intemal controls in place to mitigale risks of fraud and non-complian
with laws and regulations.
To address the risk of fraud through management bias and override of controls. we..
performed analytical procedures to identify any unusual or unexpected relationships-
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in deterniining the accounting
eslimales were indicative of potential bias: and
investigated the rationale behind significant or unusual Iransactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation-
reading the minutes of rneetings of those charged with governance,. and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audil prO￿dureS described above. The more removed that
laws and regulations are from financial Iransaclions, the less likely it is that we would become aware
of non-compliance. Auditing standards also limit the audit procedures required to identify non-
Compliance with laws and regulations lo enquiry of the direclors and olher fflanagement and the
inspection of regulatory and legal CO￿espondenCe. if any.
Material misslalemants that arise due to fraud can be harder to delect than those that arise from
error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website
at.. www.frG.org.ukJaudilorsresponsibilities. This description fomis part of our auditorfs report.
17-

INDEPENDENT AUDITOR'S REPORT TO THE BOARD MEMBERS OF
ABBEYFIELD BRAINTREE, BOCKING AND FELSTED SOCIETY LIMITED
(Company Limited by Guarantee)
YEAR ENDED 31 MARCH 2025
Use of our report
This report is made solely to the Society's members, as a body, in accordance with with Chapter 3
of Part 16 oflhe Companies Ad 2006 and the Housing and Regeneration Act 2008. Our audit work
has been undertaken so that we might slate lo the Society s members those matters we are required
to slate lo them in an auditor's report and for no other purpose. To Ihe fullest extent pemitted by
law, we do not accept or assume responsibility to anyone other than the Society and the Society's
members as a body, for our audil work, for Ihis report, or for the opinions we have formed.
c[￿LLe
Sean Wiegand FCA (Senior Statutory Auditor)
For and on behalf of Lambert Chapman LLP, Statutory Auditor
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB
Date..
18-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
STATEMENT OF COMPREHENSIVE INCOME
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 MARCH 2025
(As
Restated)
Total
funds
2024
Unrestricted Restricted
funds
funds
2025
2025
Total
funds
2025
Notes
Turnover
Operating expenditure
3,897,291
3 (3,498,387)
3,897,291
3,566,295
{3,498,3871 (3,327,721)
Operating surplus
398,904
398,904
238,574
Other income
Other inlerest re￿1vable and
similar income
Donations
Sundry income
58,995
5,220
38,010
58,994
5,220
38,011
23,877
9.856
21,296
Total comprehensive income
for the year
13
501.129
501.129
293.603
Nel transfer to designated
reserves
13
(252,488)
(252,488)
{109,17n
Total comprehensive income
for the year after transfers
248,641
248,641
184,426
All the activities of the Society are classed as continuing.
There are no recognised gains or losses in this or the prior period other than those included in the
statement of comprehensive income.
The Statement of Comprehensive Income forthe year ended 31 March 2024 is included within note
22.
The notes on pages 23 to 35 fomi part of these financial slatements.
19-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2025
Unrestricted
Unrestricted Incorne and
Designated
expenditure
reserves
account
Restricted
reserves
Total
At 1 April 2023 {As restated)
3,760,159
1,684,957
5,445.116
(Deficit}Isurplus for 2023124
(92,554)
386,157
293.603
Transfers between funds for
2023124
109,177
(109,177}
At 31 March 2024 (As restated)
3,776,782
1,961,937
5,738.719
(Deficitllsurplus for 2024125
501,129
501.129
Transfers between funds for
2024125
252,488
(252.4881
At 31 March 2025
4.029.270
2,210,578
6,239,848
The notes on pages 23 to 35 form part of these financial statements.
-20-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
BALANCE SHEET
AS AT 31 MARCH 2025
Notes
(As
restated)
2024
2025
Fixed assets
Housing properties
29,682,613
30.210,309
Other fixed assets
195,358
111,479
Total langible fixed assets
29,877,971
30,321,788
Current assets
Investments
Debtors falling due within one year
Cash at bank and in hand
870,000
247,699
1,485,153
600,000
172.942
879,966
2,602,852
1,652,908
Creditors: amounts falling due
within one year
10
(728.574) (1,076,148)
Net current assets
1.874,278
576,760
Total assets lès5 current liabilities
31.752,249
30.898.548
Creditors.. amounts falling due
after morè than one year
11
{25,512,401) (25,159.829)
6,239,848
5,738,719
Capital and reserves
Designated reserves
Revenue reserve
13
13
4,029,270
2,210,578
3,776.782
1,961,937
Total unrestricted reserves
Restricled reserves
6,239,848
5,738,719
13
6.239,848
5.738,719
The financial statements were approved by the Board members on
and signed on their behalf by=
i_rlcA f
A Cramphorn
Chairman
l Norgett
VI￿ Chair
The notes on pages 23 10 35 form part of these financial ststements.
21

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2025
{As
restated)
2024
2025
Cash flows from operating activities
Surplus{deficity for the financial year
501,129
293.603
Depreciation
Social Housing Grant release
Polly's Field Grant release
Deferred income release
Interest received
Finance costs
(Increase) in debtors
{Decreaseyincrease in creditors
605,151
(59,813)
153,267)
(158,660)
158,995)
185,902
144,975)
246,956
573.026
{52.9451
(53.2671
(157.9801
<23.8771
245.886
{71.2261
(523,934)
Net cash inflow from operating activities
1,195,631
229.286
Cash flows from investing activities
Interest received
Fixed asset additions
Grants received
58,995
(161,3341
23,877
{155,928)
Net cash oufflow from invosting activiti8S
(102,3391
{132,051)
Cash flows from flnanclng actlvltles
Interest paid
{218,1051
(218,105}
Net cash outflow from financing activities
{218,105)
(218,105)
{Decrease)lincrease in cash and cash
equivalents
875,187
(120.870)
Cash and cash equivalents at the beginning of
the year
1,479,966
1,600,836
Cash and cash equivalents at the end of year
2,355,153
1,479.966
Cash at bank at the end of the year
Cash equivalenls at the end of the year
1,485,153
870.000
879.966
600,000
Cash and cash equivalents at ond of year
2,355,153
1,479,966
The notes on pages 23 10 35 form part of these financial statements.
-22-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1 GENERAL INFORMATION
The Society is registered under the Companies Act 2006, registered number 945603 as a
ompany limited by guarantee and was incorporated on 8 January 1969. It is also registered
under Section 13 of the Housing Act 1974 for the purpose of receiving grants and other forms
of assistance. The Society is registered with the Charity Cornmission and is a Registered Social
Landlord.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Statement of compliance and basis of accounting
The principal accounting policies of the Society are set out in the following paragraphs.
These financial statements are prepared under the historical cost convention and in
accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, IFRS 102'}. The financial statements are
based on the National Federation of Housing Associations Statement of Recommended
Practice. (Accounting by Registered Social Housing Providers), and the Statement of
Recommended Practice 'Accounting and Reporting by Charities" and comply with the
Accounting Requirements for Registered Social Housing Providers Accounting Direction
2019.
(b) Turnover
Tumover represents rents and selv1￿ charges receivable for the year from the Society's
tenants. less deductions from income, including void losses. It also includes the release of
deferred Social Housing Grant income and the release of other deferred income. In respect
to the sales of the Polly's Field units, income is deferred but there is a 10/0 annual release
of this deferred income to income, pro rated over thè number of complete months of the
residents, ownership. This 1 % annual release will continue for a period up to 10 years, or
sooner if the Society regains ownership of the units.
(c) Soclal Housing grants
In a￿ordanCe with the SORP, social landlords that account for their housing properties at
cost musl recognise governmeni grants in accordance with the accrual model. Social
Housing Grants are therefore held on lh8 Balance Sheet and released to income over the
useful life of the housing properties. No improvement grants have been received.
(d) Other grants
In accordance wSth Ihe SORP. governmenl grants are recognised based on the accrual
model las the underlying assets are recorded al cost). Where the grants relate to assets,
income is recognised on a systematic basis over the expected useful life of the asset.
Non-government grants are recognised as income once the underlying performance
conditions are met.
-23-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES~ {continued)
(d) Other grants (continued)
As prescribed by Essex Counly Council, amounts received relating to the relevanl Polly's
Field grants are released as follows= nothing is able lo be released until the relaled
property has been in use for INO years, al which point 200/0 IS then able to be released. A
further 20°k will be released after a subsequent three years have passed and an additional
20.10 will be released following a further two years. The penultimate release of 20 /0 will
occur once two further years have elapsed before the granls are fully released after ten
years.
(o) Donations
Donations are credited to the income and expenditure account on a receipts basis.
Where applicable, donations in kind are valued by the Directors at the date of receipt and
are included at that value.
(fj Taxation
Abbeyfield Braintree, Bocking and Felsted Society Limited is a charity wilhin the meaning
of the Charities Act and as such is a charity within the meaning of Part 11, Corporation
Tax Acl 2010. Accordingly Abbeyfield Braintree, Bocking and Felsled Society Litnited is
potentially exempt from taxation in respect of income or gains received within categories
covered by Part 11. Corporation Tax Act 2010 or Section 256 of the Taxation of
Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively
to its charitable purposes.
The Society is not registered for VAT. All expenditure in these accounts includes the
relevant input VAT.
Igl Financial instruments and deferred income
Financial instruments are classified and accounted for, according io the substance of the
contractual arrangement. as either financial assets or financial liabilities..
Short term debtors (financial assels) are measured at the transaction price.
Short tèrm creditors {financial liabilities) are measured at the transaclion price.
Income is deferred where no right to recognition inilially arises. Deferred income is
subsequently released to the Statement of Comprehensive Income as required and as
detailed within these accounting policies.
-24-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- (continued)
(h) Loans payable and loan discounting
Loans payable are included within creditors and are disclosed as amounts falling due
within one year, or after one year. as appropriate. The loan discount received has been
included within creditors and is amortised over the duration of the loan.
(i) Public benefit entity
The Society meets the definition of a public benefit entrty as its primary purpose is to
provide a service for social benefit. In addition. the Society's equity is provided with a view
to supporting the entity's primary objectives rather than with a view to providing a financial
return lo equity providers, shareholders or members.
ti)
Depreciation
(i} Housing land and buildings
Freehold land is not depreciated. Depreciation is charged so as to write down the cost
of freehold housing properties other than freehold land to their estimated residual value
on a straight-line basis over their expected useful economic life. Depreciation
commences once an asset is brought into use.
{ii) Existing pmperties
Amounts are capitalised where required by the Statement of Recommended Practice.
In doing so their useful economic lives are considered for the purposes of depreciation.
Amounts capitalised are included within the fixed asset note whilst ilems of a revenue
nature are charged to the Slalement of Comprehensive Income. Whilst amounts
apitalised comprise both replacement items and improvements, no distinction is
made due to the similar nature of the relevant assets.. the implications of this are not
deemed lo be material to the Society's financial statements.
(iii) Other fixed assets
Fixed assets are stated al cost or valuation, less depreciation. Depreciation is
calculated to write off fixed assets, less estimated residual value, over their estimated
useful lives at the following rates..
Freehold land
Roofs
Windows and doors
Lifts
Central heating and electrical systems
Bathrooms
Kitchens
Buildings (residue)
Polly's Field assets
Fixlures, fittings and equipment
60 years
20 years
15-60 years
30 years
30 years
20 years
60 years
60 years
10 % to 20¥0 on cost
-25-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
{Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- (contlnuedl
In accordan￿ with SORP, where possible the net Cost ofthe buildings is broken down
into their major components with each component depreciated over its useful life on
the asset is brought into use.
Freehold land and buildings include capitalised interest, where relevant.
{k) Investments
Investments comprise deposit accounts requiring greater than 90 days. notice that are
placed with approved inslilutions.
(l) Fund accounting/reseryes
Designated reserves are part of unrestricted reserves but have been earmarked by the
Board for particular purposes. Such designations may be reversed by future Board
decisions.
{m) Going concern
After reviewing the Society's forecasts and projections, the Trustees have a reasonable
expectation that it has adequate resources lo continue in operational existence for the
foreseeable future, being able to meet all liabilities as they fall due. The entity therefore
continues to adopt Ihe going con￿rn basis in preparing its financial stalemenls.
In forming their view that the Society is a going concern. the Trustees have also
considered the closing position of the Society al 31 March 2025, which demonstrates
faclors such as strong levels of unrestricted funds and cash and cash equivalents.
(n) Cash and cash equivalents
Cash equivalents are recognised as such and included with other cash balances where
they represent short term, highly liquid investments that are readily convertible to known
amounts of cash without being subject to a significanl change in value.
lo) Apportionment of management expenses
Direct employee, administration and operating costs have been apportioned within the
Statement ofcomprehensive Income on the basis ofthe costs ofthe staff directlyengaged
on the operations deall with in these financial stalements.
-26-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES- (continued)
(p) Finance costs
Loan arrangement fees are deducted against the undertying liability with the overall
balarice being released over the lifetime of the corresponding asset.
(q) Significant judgements and estimates
The Directors are of the view that housing properties are correctly classified as tangible
fixed assets. as opposed to investments or being disclosed under a separate heading.
This decision is based on the fad that the income derived from these properties includes
an element of social benefit.
(r) Prior period ernr
During the year it was identified that the deferred income liability was understated in
relation to the sale of the Pollyfield residential units. As a result the opening revenue
reseryes as at 1 April 2023 has been reduced by £115,043 and deferred income over 1
year has been increased by £149.043 with deferred income less than one year decreasing
by £34,000. Consequently, net assets of the Society at 1 April 2023 have been reduced
by £115,043.
(s) Prior period reclassifi&￿1on
During the current year, the society reviewed the presentation of short-temi deposits
previously included within investments. 11 was determined that these deposits, which had
original maturities of three months or less. fflore appropriately meet the definition of cash
at bank and in hand under FRS 102.
As a result, an amount of £305,903 has been reclassified from investments to cash at
bank and in hand in the comparative period.
This change affects only the presentation on the face of the Statement of Financial
Position and Statement of Cash Flows. it has no impact on net assets or reported
surplusldeficit for the prior year.
It was also identified that turnover and service costs included an amount of £269,334 for
internal Servi￿ charge entries within the prior year. These have been removed resulting
in a reduction to bolh the comparative rent I service charge income and service costs with
no impact to the operating surplus.
It was decided that the GB Social Housing loan discount should be offset against the loan
liability and amortised over the duration of the loan ralher than disclosed separately within
debtors. As a result current assets have reduced by £448,722 and creditors over one year
reduced by £448,722.
-27-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
3 TURNOVER
(As
Restated)
2024
2025
Income from18ttlngs and care
Renuservice charges (net of bad debts)
Voids
Social Housing Grant release
Polly's Field deferre(J income release
Polly s Field Granl release
3,079,079
2,847,441
(149,240) {246,414}
59,813
52.945
158,660
157.980
53,267
53,267
3,201,579
2,865,219
Care package fees
Other services from Care
679,068
16,644
681,896
19,180
Turnovor
3,897.291
3.566,295
Service costs
Management costs
Repairs and rnaintenance costs
Depreciation
Other costs (net)
2.191.852
501.845
199,432
605,151
107
2,039.805
540.092
173.189
573.026
1.609
Operatlng expendlture
3,498,387
3,327,721
Operating surpluslldeficit)
398,904
£ 238,574
4 OPERATING SURPLUS
The surplusl{deficit) of income over expenditure is stated after charging..
2025
2024
Depreciation
Auditor's remuneralion
605,151
17,673
573,026
9,500
28-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
5 OPERATING LEASE COMMITMENTS
During the year, £3.769 (2024.. £3,769) has been recognised in the income and expenditure
account in relalion to operating leases.
At the reporting end dale the society had outstanding Commitments for future minimum lease
payments under non-canGellable operating leases, as follows..
2025
2024
ithin one year
Over one year
3,769
2,827
3,769
6,596
6 STAFF COSTS
2025
2024
Wages and salaries
Social security costs
Pension costs
1,644,808
126,083
29,340
1,542,993
111,669
27,248
1,800,231
1,681,910
The average weekly number of employees, including unpaid Committee members and part-
time employees, during the year is made up as follows..
Executive Committee
Operations Manager
Senior Personnel
Housekeepers, Support workers, Carers
and Domestic Helpers
97
90
113
107
No employee (2024 - no employee) received emoluments of more than £60,000.
-29-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
7 TANGIBLE FIXED ASSETS
Freehold
Fixtures,
land and fittings and
buildings
equipment
Total
Cost or valuation
At 1 April 2024
Additions
33,636.181 860,720 34,496.901
56,450 104.884
161,334
At 31 March 2025
33,692,631 965.604 34.658,235
Depreciation
At 1 April 2024
Charge for the year
3,425.872 749.241
584.146
21,005
4,175,113
605.151
At 31 March 2025
4.010.018 770,246
4,780.264
Net book values
Al 31 March 2025
29,682,613 195,358 29,877,971
30,210,309
111,479 30,321,788
At 31 March 2024
Freehold housing land and buildings comprise the following..
Wickham House, 3381340 Coggeshall Road, Braintree.
Great Bradfords House. 159 Coggeshall Road, Braintree.
Felsled House, Jollyboys Lane, Felsted.
Polly's Field Village, Church Lane, Bocking, Braintre8.
The land at Church Lane, Bocking and 159 Coggeshall Road, Brainlree. which were donated
lo the Society are included in "cost or valuation. above, at a valuation by the Executive
Committee of £12,000 and £450,000 respectively.
8 INVESTMENTS
(As rostated}
2024
2025
Cash deposits
870,000
600.000
30-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
9 DEBTORS
2025
2024
Prepayments
Rent debtors
Other debtors
119.123
128.527
57,847
107,422
7,673
247,699
172,942
10 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Restated)
2024
2025
Trade creditors
Other taxes and social security costs
Accruals and deferred income
Other creditors
40,346
29,257
651.221
7.750
385.904
44,529
595,483
50,232
728,574
1,076,148
11 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
(As restated)
2024
2025
Deferred income
GB Social Housing loan
21,731,341
3,781,060
21,408.551
3,751.278
25,512.401
25,159,829
Included within creditors due after more than one year is an amount of £24,571.985 (2024 -
£24,387,559) due after more than five years. Deferred income due after one year includes
£15,603,702 (2024- £14.751,144) in respect of monies received regarding the Polly's Field site.
This money is released each year. as explained in the accounting Policies, and effectively
represents the Society's commitmenl to ro-acquiring the relevant units in the future.
The carrying amount oflhe GB Social Housing loan of £3,781.060 (2024.. £3.751,278) is made
up of the OLrtstanding loan of £4,200.000 offset by £418,940 12024.. £448,722) of loan
discounting fees.
12 COMPANY LIMITED BY GUARANTEE
The Company does not have share capital and is limited by the guarantee of its members. If the
Company is dissolved while 8ach person remains a member, each member's liability is limited
to a sum not exceeding £1.
31

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
13 ANALYSIS OF FUNDS
{Deficit)I
{As reststed) surplus
Balance
for the
1.4.24
year
Balanco
31.3.25
Transfers
Designated funds
Hardship Fund
Polly's Field
Major Repairs- Felsled House
Refurbishment of
Great Bradfords House
Refurbishment of Wickham
House
Polly's Field Maintenan￿ fund
Upgrade of bathrooms
Fixed Asset Fund
25,000
25.000
639.532
267,742
639,532
227,742
40.000
464,730
30,000
494.730
387,960
50.000
250.000
1.756.818
20,000
100,000
407.960
150.000
250,000
1,794,306
37,488
3.776.782
252,488
4,029,270
Income and oxpenditure account
Revenue Reserve
1,961,937
501,129 {252,488)
2,210,578
Total reserves
5,738,719
501,129
6.239.848
Hardship Fund
Reserve to support tenants experiencing severe financial
difficully.
Polly's Field
Designated reserve is in respect of further development of
Ihe scheme.
Major Repairs- Felsted House
Reserve for the repair of F81sled House.
Refurbishment of Great
Bradfords House
Reserve to provide for the refurbishment of Great Bradfords
House anticipated every 10 years.
Refurbishmenl of Wickham
House
Reserve to provide for the refurbishment of Wickham House
anlicipatad every 10 years.
Polly's Field maintenance fund
Reserve to provide for cosl of the Polly's Field maintenance
charges.
Reserve for the future refitting of tenants, bathrooms.
Upgrade of bathrooms
Fixed Asset Fund
Reserve created which mirrors Ihe net book value of the
Society's assets net of the social housing grants and Polly's
Field nel book value.
Revenue Reservè
Reserve to meet the ongoing operations of the Society.
32-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guaranlee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
14 GRANTS (INCLUDING SOCIAL HOUSING)
Grants received in respect of compleled properties are released over the life of the property, and
released based on accounting policy 2ld) in regards to Ihe amount of the Polly's Field total grants
received from Essex County Council:
2025
2024
Great Bradfords House
Wickham House
Felsted House
Polly's Field
1,897,393
186.667
343,445
4,072.217
1,943,671
193.333
350,315
4,125,481
6,499,722
6,612,800
2025
2024
Included wlthin:
Deferred income within one year
Deferred income two to five years
Deferred income after five years
372,080
711,322
5,416,320
104,436
624,944
5,883,420
6,499,722
6,612,800
15 RELATED PARTY TRANSACTIONS
The Society paid Iravel expenses in respect of the following Trustees-
2025
2024
l Norgett
A Cramphom
340
431
No Trustee received any other remuneration during the year12024 - £Nil).
All transactions are conducted on an arm's length basis.
Senior management team remuneration totalled £348.46312024- £279,875).
33-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
16 CONTROL
The Society is controlled by its Board.
17 ACCOMMODATION IN MANAGEMENT
2025
2024
Number of units of housing accommodation
Al 1 April 2024 and 31 March 2025
165
165
Wickham House provides 17 (2024 - 17) studios.
Great Bradfords House provides 33 (2024 - 33) one bedroom flats and 2 {2024 - 2}
bedroom flats.
Felsted House provides 14 {2024 - 141 studios.
Polly's Field provides 9912024 - 99) flats.
18 FINANCIAL INSTRUMENTS
2025
2024
Financial assets measured at the transaction pri¢e
2,483,680
1,587,388
Financial liabilities measured al the transaction pri
20,006,054
19,893,908
Further details regarding financial instruments are included within Note 2(gl of the Accounting
Policies.
19 CAPITAL COMMITMENTS
At the year end the Society was committed lo pay a final payment on a contract in relation to
development works being undertaken on Polly's Field. The commitment Is approximated to be
£68.777 {2024- £150,000}.
20 LOAN SECURITY
At the year end, the Society held a loan agreement which was to refinance the previous loan
held for the construction work on Polly's Field. The three other houses, Wickham, Greal
Bradfords and Felstead. are being used as security on the loan.
-34-

ABBEYFIELD BRAINTREE, BOCKING AND FELSTED
SOCIETY LIMITED
(Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
21 ANALYSIS OF CHANGES IN NET DEBT
Balance at
1 Aprll
2024
Other
non-cash
changes
Balancg at
31 March
2025
Cash flows
Cash
Cash equivalents
879,966
600,000
605,187
270,000
1,485,153
870,000
Cash and cash equivalents
Loans
1,479,966
(3,751,278)
875,187
2,355,153
13,781,060)
129,782
{2,271,312>
875,187
11,425,907)
22 PRIOR YEAR STATEMENT OF COMPREHENSIVE INCOME
(As
restated)
Total
funds
2024
(As restated)
Unrestrlcted Restricted
funds
funds
2024
2024
Notes
Turnovor
Operating expenditure
3.566,295
13,327,721 }
3,566,295
{3,327,7211
Operating surplus
238,574
238,574
Other Income
Other interest receivable and
similar income
Donations
Sundry income
23,877
9.856
21.296
23,877
9,856
21,296
Total comprehensive income
for the year
293,603
293,603
Net transfer to designated
reserves
(109,177}
1109,177)
Total comprehensive income
for the year after transfers
184,426
184,426
35-