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2023-09-30-accounts

Company No: 00950104 Charity No: 258882

THE FAIRBANK SOCIETY (A Company Limited by Guarantee)

Directors' Report and Financial Statements

For The Year Ended 30 September 2023

THE FAIRBANK SOCIETY

CONTENTS

Company Information 1
Report of the Trustees 2
Independent Examiner's Report to the Trustees 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Statement of Cash Flows 10
Notes to the Accounts 11
The following do not form part of the statutory accounts:
Detailed Income and Expenditure Account 18
Schedules to the Income and Expenditure Account 19

THE FAIRBANK SOCIETY COMPANY INFORMATION

(Registered Charity Number: 258882)

Directors

The directors of the charitable company are also its trustees for the purpose of charity law and are collectively referred to as the Trustees throughout this report.

Dr Dave Thomas Chairman
Dr Iain Bride Treasurer
Mrs Lynda Skinner
Mr Merlin Hibbs
Ms Gill Sykes
Mrs Mary Quinn
Mrs Daphne Peel
Rev A E Pettifor
Mr Dave Hacking
Ms Joanne Whittaker
Ms Kate Hampshire (Appointed 2 March 2023)
Registered Office The Gables
Fairbank
Kirkby Lonsdale
LA6 2BD
Accountants MHA Moore and Smalley
Chartered Accountants
Kendal House
Murley Moss Business Village
Oxenholme Road
Kendal
LA9 7RL
Bankers HSBC Bank PLC
35 Market Street
Lancaster
LA1 1JQ
Solicitors Oglethorpe, Sturton & Gillibrand
17 Main St
Kirkby Lonsdale
Carnforth
LA6 2AQ

Page 1

THE FAIRBANK SOCIETY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 30 SEPTEMBER 2023

The trustees present their report and financial statements for the year ended 30 September 2023

ity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities applicable in the UK and Republic of Ireland published in October 2019.

Objectives and Activities

1) To provide supported sheltered accommodation and other support for adults to relieve loneliness, hardship, insecurity or other needs and to enable residents to live active fulfilled lives as far as they are able; and

2) To relieve people within the wider community of Kirkby Lonsdale and the surrounding area who are lonely, insecure, suffer hardship or are otherwise in need of support by encouraging and enabling individuals and the community at large to engage with them.

Residential Accommodation , Public Benefit and Hardship Funds

We own two separate buildings on one site in Kirkby Lonsdale, which between them contain 24 flats and apartments, and a guest room.

Residents either come from their own homes, when through age or infirmity they are finding living there difficult, or they transfer to us from other similar accommodation. The decision as to whether a resident is suitable is made with regard to the Charity commission's guidance on public benefit.

Residents pay a monthly rent which, thanks to our charitable status, is less than the market rent. From this income we provide breakfast items and mid-day and evening meals, laundry, room cleaning, heating, Wi-Fi access and full property maintenance. We also provide limited 24-hour cover. Funds are set aside to ensure that no resident is forced to leave through financial hardship.

To provide this support we employ both full and part-time staff. These staff, the trustees and our local volunteers have enjoyed being able to return much more towards the round of activities and events that we enjoyed pre-Covid.

We have an ongoing programme of training for our staff, including fall-hazard awareness, first aid emergency care, and evacuation procedures. We review all accidents and where appropriate use the Riddor reporting system.

We have an active programme of maintenance and redecoration. One of our two buildings was built in the 19th century and therefore has a rather higher cost to maintain, but we feel that the quality of accommodation it is able to provide make this extra cost to the charity worthwhile.

Achievements and Performance

Two of our more senior members of staff moved on over the course of the year, but both assured us that they had been very happy working with us and that they were leaving for personal reasons. Their replacements are very enthusiastic about working at Fairbank, and have proven themselves equal to everything we have asked them to do.

Page 2

THE FAIRBANK SOCIETY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and Performance (continued)

The staff team has been more stable this year and despite the competitive market we have been able to recruit new members, who are fitting in well. There has been a significant amount of unavoidable absence through sickness, but with good staff numbers we have not had difficulty absorbing this. The one exception to this has been our provision of overnight cover where we could see that we would have a significant number of gaps in the overnight rota. To manage this, we have subscribed to an external call agency so that we can be certain that in any circumstances appropriate help can be accessed by our residents.

Over the last quarter the health of a number of our residents has declined to the point that we could no longer help them maintain their independence and we have been able to help them and their relatives find more suitable accommodation elsewhere. This leaves us at the moment with rather more vacant rooms than we would like, but we actively advertise our presence locally and continue to have expressions of interest. We have reserves to cover this loss of income but we are monitoring the situation closely. Despite these losses the day-to-day life of the Society both practical and social continues and, very much thanks to Janet and Peter Farrington and all the staff, there is a very positive atmosphere.

We have a major maintenance job, replacing the roof of the newer of our two houses, planned for the spring, but this has already been budgeted for. It will give us the opportunity to install up-to-date solar panels and to ensure that our insulation is maximised, which will help with our future energy costs.

This year has seen B4RN install a fibre hub in our grounds, which besides providing fibre connectivity to both of our houses and to the Lodge, supplies fibre broadband to the church, the vicarage and the properties on the north side of the town. We have organised the installation of a community defibrillator in our grounds for the residents on Fairbank and Fairgarth Drive. We have welcomed the opportunity to reinstate the social events calendar of the houses and our engagement with the wider community and, despite the weather, enjoyed participating in the Kirkby Lonsdale open gardens scheme and our Strawberry Tea open day.

The Board have continued to have due regard to guidance published by the Charity Commission on Public benefit.

Financial Review

When setting the budget for 2022-23 we recognised the problems we faced with significant increases in gas, electricity and food costs as well as increased wage bills but were concerned of the impact on our residents of increasing rents in line with inflation. We decided therefore to set a zero budget but, primarily as a result of higher than expected residency rates we generated 29k.

As mentioned in the above report, we currently have more vacancies than we would wish but the Trustees are confident in the financial viability of the Society and that our reserves are more than adequate to address the situation.

Investment Policy

Under the Memorandum and Articles of Association the Trustees have the power to make any investment which Endowments Fund (Class A Acc) and B4RN. The choice is regularly reviewed.

Page 3

THE FAIRBANK SOCIETY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Reserves Policy

The Trustees review their reserves policy annually. The current policy is to maintain sufficient unrestricted funds (excluding tangible fixed assets) for the purpose of providing against:

The minimum level of reserves that the Trustees would aim to hold in norm

can retain the flexibility and financial independence to respond to the changing profile and needs of the elderly population in the local area.

Free reserves at the year-end including the Sarasin Investment Fund 875,695 which exceeds target.

Trustees

The directors of the charitable company are its trustees for the purposes of charity law. The Trustees in office at the end of the financial year are listed below. Trustees due to retire by rotation, but who were available for reelection, are marked with an asterisk *.

Dr Dave Thomas Chairman Dr Iain Bride Treasurer Mrs Lynda Skinner Mr Merlin Hibbs Ms Gill Sykes Mrs Mary Quinn* Mrs Daphne Peel Rev A E Pettifor Mr Dave Hacking Ms Joanne Whittaker Ms Kate Hampshire (Appointed 2 March 2023)

Qualifying Third Party Indemnity Provisions

The Articles of Association of the Charity permit the Trustees of the Charity to be indemnified in respect of liabilities incurred as a result of their office. These include qualifying third party indemnity provisions (as defined where relevant by the Companies Act 1985 and the Companies Act 2006). These indemnities were adopted in February 2010 and remain in force.

Fixed Assets

The principal items of capital expenditure are set out in note 5 to the financial statements.

Structure, Governance and Management

The Society is a Charitable Company Limited by Guarantee and is a registered charity (No 258882). It is administered as an independent Charitable Company by a Board of Trustees.

The Board of Trustees have met 4 times during the financial year ending 30 September 2023. The House Committee, which oversees the work of the Manager, staff and the welfare of the residents in the two houses, has met normally monthly. The Board reserves powers to determine overall direction, policy and financial management

Page 4

THE FAIRBANK SOCIETY

REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Recruiting Trustees

The existing Trustees recruit and appoint new Trustees up to a limit of 12, taking particular account of the skills and to satisfactory clearance following a Disclosure and Barring Service (DBS) check, and are normally known to at least one of the existing Trustees.

Risk Management

The Trustees operate a formal Risk Register which is reviewed on a regular basis in order to ensure that all risks, including COVID-19, that can be reasonably foreseen are identified, considered and appropriate mitigating action taken. Adequate insurance is always maintained, and the Society has sufficient resources to continue in operation for the foreseeable future, and to cope with adverse conditions. The Trustees work to a five year rolling Business Plan which models income, expenditure and reserves based on prudent assumptions.

The Trustees (who are Directors of the Fairbank Society Limited for the purposes of company law) are responsible for preparing the Trustee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the Charitable Company and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for the year. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provision of Article 15 of the Companies Act 2006 relating to small companies.

Signed on behalf of the Board of Trustees on

15/03/2024

Dr D G Thomas Chairman

Page 5

THE FAIRBANK SOCIETY

FOR THE YEAR ENDED 30 SEPTEMBER 2023

I report on the accounts of the company for the year ended 30 September 2023 which are set out on pages 7 to 17.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 as carried out under section 145 of the Charities Act 2011 followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

be a member of a body listed in section

145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any an

independent examination; or

  1. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Colin Johnson FCCA MHA Moore & Smalley Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria 15/03/2024 LA9 7RL Date:

Page 6

THE FAIRBANK SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note
Income and endowments from:
Donations and legacies
Charitable activities
Investments
3
Other:
Solar Panel income
Miscellaneous
Total income and endowments
Expenditure
Charitable activities
Other:
Administration expenses
Total expenditure
Net income before other recognised gains and losses
Net gains /(loss) on investment assets
6
Net movement in funds
Total funds brought forward
Total funds carried forward
10		 2023
2022
320
5,000
510,972
478,568
22,862
22,294
2,071
1,804
300
900
536,525
508,566
496,531
422,132
10,745
13,155
507,276
435,287
29,249
73,279
20,165
(91,087)
49,414
(17,808)
1,813,618
1,831,426
1,863,032
1,813,618

The notes on pages 11 to 17 form part of these financial statements.

Page 7

THE FAIRBANK SOCIETY

SUMMARY INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note
Total Charitable Income
Total expenditure
Net contribution to overheads
Administration costs
Investment income
3
Net income/ (expenditure) for the year
10
Statement of Total Recognised Gains and Losses
Surplus/ (loss) for the year
Unrealised gain/ (loss) on investment assets
6
Total gain/ (loss) recognised since 30 September 2023		 2023
2022
513,663
486,272
(493,083)
(412,404)
20,580
73,836
(14,193)
(22,833)
22,862
22,294
29,249
73,279
2023
2022
29,249
73,279
20,165
(91,087)
49,414
(17,808)

The notes on pages 11 to 17 form part of these financial statements.

Page 8

THE FAIRBANK SOCIETY

BALANCE SHEET

AS AT 30 SEPTEMBER 2023

Note
Fixed assets
Tangible assets
5
Investments
6
Current assets
Debtors/Prepayments
7
Cash at bank and in hand
8
Creditors:Amounts falling due within
one year
9
Net current assets
Net assets
Funds
Accumulated fund
Investment revaluation fund
Total funds
10		 3,763
115,492		 2023
977,337
804,997		 5,338
81,306		 2022
980,380
761,970
1,742,350
71,268
119,255
38,557		 86,644
15,376
1,813,618
1,663,722
149,896
1,813,618

For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

15/03/2024

These accounts were approved by the directors and authorised for issue on their behalf by:

and are signed on

Dr D G Thomas Dr I M Bride

Company Registration Number: 00950104

Page 9

THE FAIRBANK SOCIETY

STATEMENT OF CASH FLOWS

AS AT 30 SEPTEMBER 2023

Reconciliation of net expenditure to net cash flow
from operating activities
Net expenditure for the year
Depreciation of tangible fixed assets
Net (loss)/ gains on investment assets
Investment dividends received and reinvested
(Increase)/ Decrease in debtors
Increase / (Decrease) in creditors
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire fixed asset investment
Net cash flow from investing activities
Net increase / (decrease) in cash and equivalents
Cash and cash equivalents at 1 October 2022
Cash and cash equivalents at 30 September 2023		 49,414
3,043
(20,165)
(22,862)
1,575
23,181		 2023
34,186
-		 (17,808)
3,401
91,087
(22,294)
(2,730)
(4,952)		 2022
46,704
(10,000)
- (10,000)
34,186
81,306		 (36,704)
44,602
115,492 81,306

Page 10

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting Policies

The Fairbank Society is a company limited by guarantee in England and Wales.

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The Fairbank Society meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary am

Income

Income represents amounts receivable by the company in respect of rents from residents and services provided, to the extent that the company has a right to consideration arising from the performance of its contractual arrangements.

Items of income are recognised and included in the accounts when all of the following criteria are met:

For legacies, entitlement is taken as the earlier of:

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Page 11

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting Policies (continued)

Donated Services and Facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Donations

Monetary donations to the Charity are credited to the income and expenditure account on a receipts basis.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Depreciation

Depreciation is calculated on the reducing balance method and aims to write down the cost of tangible fixed assets other than freehold land over their expected useful lives as follows:

Furniture and equipment - 10% reducing balance and over 3 years straight line.

The Trustees consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and is not, therefore, charged in the Statement of Financial Activities. The Trustees perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Fixed Assets

Freehold land and buildings are stated at cost.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Page 12

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1 Accounting Policies (continued)

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Investments

Investments are stated at market value at the balance sheet date with any gain or loss on revaluation or disposal being recognised in the statement of financial activities in the period.

Corporation Tax

As a charity, The Fairbank Society is exempt from tax on income and gains falling within sections 472474 of the Corporation Tax Act 2010, sections 478 - 489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

Pensions

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in independently administered funds.

Funds

All of the funds are unrestricted and can be used in accordance with the objects of the Charity at the discretion of the Trustees.

2

Net Income for the Year
2023 2022
Net income is stated after charging:
Accountants Remuneration:
- Accountancy and Independent Examination 1,824 1,584
- Other services 1,651 1,577
Depreciation 3,043 3,401

The net income for the year is attributable to the principal activity of the company and is earned entirely within the United Kingdom.

3 Investment Income

vestment Income
2023 2022
Sarasin Accumulation Fund 22,862 22,294

Page 13

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

4 Directors and Employees

irectors and Employees
Employee costs during the year:
Wages and salaries
Social Security Costs
The full time equivalent number of employees during the year was as
follows:
Directors
Staff		 2023
2022
243,977
227,804
11,754
9,444
3,601
2,786
259,332
240,034

2023
2022
10
10
12
7
22
17

There were no employees earning more than 60,000 (2022:Nil)

No committee member or officer of the company received any fee or remuneration for services rendered on behalf of the company or reimbursement of expenses (2022: Nil)

5 Tangible Fixed Assets

Cost
At 1 October 2022
Additions
At 30 September 2023
Depreciation
At 1 October 2022
Charge for the year
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022		 Freehold
Property
Property Improvements &
173,758
776,713
-
-
173,758 776,713
-
-
-
-
-
-
173,758
776,713
173,758
776,713		 Fixtures
Equipment
162,630
-
162,630
132,721
3,043
135,764
26,866
29,909		 Total
1,113,101
-
1,113,101
132,721
3,043
135,764
977,337
980,380

Freehold property is property held for letting and is included at original cost plus amounts incurred on development.

Page 14

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

6 Investments

Valuation at 1 October 2022
Additions
Unrealised investment (loss) in year
Valuation at 30 September 2023
Historical cost at 30 September 2023		 Listed
761,970
22,862
20,165
804,997
634,937

The market value and historical cost of listed investments is made up as follows:

----- Start of picture text -----
Historical Market Historical Market
Cost Value Cost Value
2023 2023 2022 2022
Sarasin Investment Fund 624,937 794,997 602,075 751,970
250,156.457 Alpha CIF Acc Units
10,000 10,000 10,000 10,000
7 Debtors: Amounts Falling Due Within One Year
2023 2022
Prepayments 3,763 5,338
3,763 5,338
8 Cash at Bank and in Hand
2023 2022
Bank current account 115,211 81,198
Petty Cash 281 108
115,492 81,306
9 Creditors: Amounts Falling Due Within One Year
2023 2022
Accruals 1,782 1,578
Other creditors 32,104 9,244
Social security and other taxes 4,671 4,554
38,557 15,376
----- End of picture text -----

Page 15

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

10 Funds

Balance at 1 October 2022
Surplus for the year
Unrealised Investment gain in year
Balance at 30 September 2023
Balance at 1 October 2021
(Loss) for the year
Unrealised Investment (loss) in year
Balance at 30 September 2022		 Investment
Total
Accumulated
Revaluation
Fund
Fund
1,813,618
1,663,722
149,896
29,249
29,249
-
20,165
-
20,165
1,863,032
1,692,971
170,061
Investment
Total
Accumulated
Revaluation
Fund
Fund
1,831,426
1,590,443
240,983
73,279
73,279
-
(91,087)
-
(91,087)
1,831,618
1,663,722
149,896

Both these funds are Unrestricted Funds.

11 Pension Scheme

The Charity provides employees with access to a Stakeholder Pension Plan - currently the Fairbank Pension Plan is with NEST. The assets of the plan are held separately from those of the Charity in independently administered funds.

Employees' individual contracts of employment provide details of the employer's contributions to either this scheme or to another authorised pension plan of their choice.

The pension cost charge represents contributions payable by the Charity to these plans and amounted to 3,601 (2022 2,786). Contributions totalling 838 (2022: 616) were payable at the year end.

12 Capital Commitments

The Charity had no capital commitments at 30 September 2023 or 30 September 2022.

13 Contingent Liabilities

There were no contingent liabilities at 30 September 2023 or 30 September 2022.

Page 16

THE FAIRBANK SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2023

14 Company Status

The company is limited by guarantee under the Companies Act 2006. The liability of the members is 258882.

15 Control

No single individual has had control of the charity in the current or previous year.

16 Related Party Transactions

There were no related party transactions during the current or previous period.

Page 17