Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
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 2025
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
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 | 20 |
| Schedules to the Income and Expenditure Account | 21 |
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
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 (resigned December 2025, re-appointed January 2026) Mr Merlin Hibbs Ms Gillian Sykes Rev Anne Pettifor Mr Dave Hacking (resigned November 2025) Dr Joanne Whittaker (resigned November 2025) Ms Mary Quinn Ms Lesley Barrett (appointed March 2025) Registered Office The Gables Fairbank Kirkby Lonsdale LA6 2BD Accountants MHA 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
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The trustees present their report and financial statements for the year ended 30 September 2025.
The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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.
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. 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, all of whom live locally.
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
I need to emphasise that the work of the Society has gone on without interruption this year because there have been two quite major upheavals.
The first was reviewing our overnight cover arrangements, alluded to in last year’s report but implemented this year. Our first approach had been to look to employ new members of staff to provide cover, sleeping on-site, but despite attracting six applicants only one person was prepared to take the job on and she was able to cover two nights a week. This was not a satisfactory long-term solution. Accidents or acute illnesses happen overnight on average once a month and if Janet, our Manager, is on site she is still happy to cover them but we cannot ask her to be permanently on site.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and Performance (continued)
The initial problems with the pendant alarms have been ironed out and when they have been used the residents and their sponsors have been happy with the service. At a meeting involving the Chairman, Treasurer, Manager, fifteen residents and five sponsors in May it was agreed that we would rely on the pendant alarms and call centre, and this decision was confirmed at the Board meeting in June. So far the system has worked satisfactorily, but naturally we review all incidents. There is the subsidiary issue of our response should the fire alarm go off overnight, and for this we are employing a local firm, LRM Security.
The second issue was the completion of the work done to improve our accommodation’s fire safety. The builders proved to be very clean and well organised so that while disruption was unavoidable it was kept to a minimum, but a lot of the credit for this also goes to Janet and Dot for their careful planning. At least one resident preferred their room after the alterations even though the intention had been simply to provide a safer escape route. I have to confess that we failed to adequately inform the residents on the first floor of the Gables of the changes we were planning to the room on their floor, causing significant distress, something we regret and will not repeat.
Otherwise, as I said at the outset, we have carried on very much as usual. Occupancy has remained high, though we did have to keep one room free as residents were displaced while their rooms were being modified.
Unfortunately, a member of staff broke her leg but has made a complete recovery and has returned to work. Another has retired so we have had new members joining the team, but morale remains good. As happens from time to time there have been some niggles among the residents which are affecting the atmosphere in one of the houses but we are doing our best to resolve them.
The social events calendar of the houses remains full and we continue to enjoy our engagement with the wider community. We have also welcomed Robbie the robot lawnmower, who fascinates us all and has freed the gardeners from the chore of mowing.
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 2024-25 we were again faced with significant increases in gas, electricity and food costs as well as increased wage bills and we increased our rent levels by 5%, aiming to make a small surplus. Our normal practice is to budget for a 92% occupancy of our rooms but for this year we had an occupancy rate of 94% resulting in increased income from rents.
Income of £24k from investments was re-invested in the reserves.
However, expenditure was significantly above budget as a result of the necessary building works mentioned above which cost £51k. Excluding investment income this resulted in an overall deficit for the year of £12k. As regards the normal running costs for the year (excluding the building costs) we made a surplus of £39k, slightly above budget.
Investment Policy
Under the Memorandum and Articles of Association the Trustees have the power to make any investment which they see fit in furtherance of the Society’s aims and objectives. Currently we invest in Sarasin and Partners Endowments Fund (Class A Acc) and B4RN. The choice is regularly reviewed.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
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:
-
Severe adverse trading conditions or a major disruption to the Company’s business
-
Major repairs to the Society’s building, one of which is Grade 2 listed
-
Residents drawing from the Society’s Hardship Fund
The minimum level of reserves that the Trustees would aim to hold in normal circumstances is £750,000, with a view to building up closer to £900,000 within a 5-year planning period. This level is required so that the Society 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 were £899,197.
This figure has been calculated as the unrestricted funds carried forward at the year-end of £1,882,771 less tangible fixed assets of £972,176 less an illiquid investment in B4RN of £11,398.
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 Mrs Lynda Skinner Dr Iain Bride Treasurer Mr Merlin Hibbs Ms Gill Sykes Rev Anne Pettifor Ms Mary Quinn Ms Lesley Barrett
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.
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 2025. 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 of the company, and to approve capital and project spending in excess of £1,000.
Recruiting Trustees
The existing Trustees recruit and appoint new Trustees up to a limit of 12, taking particular account of the skills and experiences that are required to direct and contribute to the Society’s operations. Trustees are appointed subject to satisfactory clearance following a Disclosure and Barring Service (DBS) check, and are normally known to at least one of the existing Trustees.
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Docusign Envelope ID." 780A5CCg-EDA&47E&971E-68F82087C585 THE FAIRBANK SOCIETY REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 30 SEPTEM8ER 2025 Risk Managgment The Trustees operate a fomial Risk Register which is revithved on a regular basi$ in order to ensure that all risks that can be reasonably I0een are identifi&J, eonshlef&J and ¥prOprle mitigating action taken. Adequate insurance Is always maintained. and the SOcty has suffiuent resources to eontinue in operation forthe loreseeable future, and lo cope with adverse condrtions. The Trustees w¢yk to a fve year rolling Business Plan which models income, expendilufe and reserves based on prudent assumptns. Plans foi futur• p•riod8 The Trustees annually consider 8 rolling fNe•year plan and are committed to ntInuIng to provide suitable high. qualty sheltered living forlhose living in the Kifkby Lonsdale hoUrbCQrt and relalNes or friend8 of such persons. The Trustees have no CL&rrent pL3ns to expand. The Tnjstees recognise the uncertainty of being able lo 17ave a high occupancy at all times and take steps to promott the fw"lth"68 HI diverse ways while maintaining adequate reserves to meet unforeseen expendriure. Trustees, Responslbtliti•s The Trustees (who are Directors of the Fairbonk SOCW Limrted for the purposes of company lawl are responsibla for preparing the Trustee Report and the financsal Statem n accothncewith applublelgw and United Kin9dom Accounting Standards Company law requir86 the Trustees to prepare financh71 statements for each financial y8aT, which give a true and tair view of the Stat6 of affairs of the ChaTrt8ble Company orbd of the incoming resources and application of rèsources, including the income and expendvre. at Ihe Choriiabl8 Cryafty for the year. In prèparing these financial stslemenls, the Iru51ees are required lo". Select suitable accounting policles and Ihen appty them consistentty., Observe Ihe rnethods and prTrncipks in the Chanlies SORP 2019 IFRS 1021., Make judgements and 6Stimat8s that are reasonab and prudent". Slate whether applicable UK Accounting Standards be8n folbwéd, $utr4'8cI to any m•tenal departures disclosed and explained in the financial Statents.. Prepare the financial slalernenl$ on the going concarn basis unless it is inapproprial& lo presume Ihal the charrtable company will contsnue in opefalion. The TnJslees are respons1b for keeping pnJper accounting records that di5dose with reasonable accuracy at any time the financral position of the Chantable Company al enable them to ensu that the financial stalemenls comply wrf(h the Companies Act 20. They are also respon5ibJo for safeguarding the assets of the Charitable Company and hence for taking reasonab steps for the prevention and deteCt*n of fraud end other iiregulafilies. This report has been prepared in accordanc8 with the special provisN)n of Article 15 of the C¢)mpanies Act 2006 reLAling lo small companies. Signed on behaw of the Boarfl of Truslees on ... MArfL Dr D G Thomas Chairman Page 5
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
I report on the accounts of the company for the year ended 30 September 2025 which are set out on pages 7 to 19.
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 for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must 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 ICAEW, 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:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
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.
Jack Steer BA(Hons) FCA
Independent Examiner MHA Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL
March 23, 2026 Date: ……………………………..
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Note Income and endowments from: Donations and legacies Charitable activities 3 Investments 4 Other: Solar Panel income Miscellaneous Total income and endowments Expenditure Charitable activities Other: Administration expenses Total expenditure 5 Net (Expenditure)/Income before other recognised gains and losses Net gains on investment assets 9 Net movement in funds Total funds brought forward Total funds carried forward 13 |
2025 2024 £ £ - - 553,152 457,932 24,223 25,924 2,436 1,814 904 500 |
|---|---|
| 580,715 486,170 |
|
| 557,463 522,520 11,602 11,607 |
|
| 569,065 534,127 |
|
| 11,650 (47,957) (46,965) 103,011 |
|
| (35,315) 55,054 1,918,086 1,863,032 |
|
| 1,882,771 1,918,086 |
The notes on pages 11 to 19 form part of these financial statements.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Note Total Charitable Income Total expenditure Net contribution to overheads Administration costs Investment income 9 Net income/ (expenditure) for the year 13 Statement of Total Recognised Gains and Losses (Loss)/Surplus for the year Unrealised gain/ (loss) on investment assets 9 Total gain/ (loss) recognised since 30 September 2025 |
2025 2024 556,492 460,247 (557,463) (522,250) |
|---|---|
| (971) (62,273) (11,602) (11,608) 24,223 25,924 |
|
| 11,650 (47,957) |
|
| 2025 2024 11,650 (47,957) (46,965) 103,011 |
|
| (35,315) 55,054 |
The notes on pages 11 to 19 form part of these financial statements.
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Docusign Envelope ID." 780A5CCg-EDA&47E&971E-68F82087C585 THE FAIRBANK SOCIETY BALANCE SHEET AS A T 30 SEPTEMBER 2025 2025 2024 Note Fixgd assets Tangible a55etS Investments 972.176 911.190 1,883,366 974.613 933.932 1,908.545 Current assets DebtorslPrepaymenl8 Cash al bank and in hand 10 11 4.270 21,302 25,572 3.821 30.258 34.079 Creditors: Amounts falling due within one year 12 26.167 24,538 Net Currènt Illabllltie8)l a88•ts 1595> 9.541 Net asset• 1,882.771 1.918,086 Fund8 Aecumulaled fund Investment revaluation fund 1.666,664 226,107 1,645,014 273.072 Tot•1 fund• 13 1,882,771 1,918.086 The n¢)tes on pages 1110 19 form port 01th financial Statents. For the year ended 30 September 2025 the company was entrtled to exerWn from audrt under se¢tion 477 01 the Companies Act 2CJ)6 relating to small companies. Directors respon8ibililies.. The members have not required the Company to obtain an alit of rts accounts for the year in question in 8ecordance wrth section 476". The directors acknowledge their reswnsibilities for comptyifu with the rèqyirements of the Act wrth respect to accounting iecords and the preparation of accounts. These accounts have been prepaied in accordance with Ihe special prow$KJns for small companies under Part 15 of the Companies Act 2006. These xcounts were approved by directors and authorised for issue on . and are signed on their betta by.. Dr D G Thomas Company Registration Number. 00950104 DrlMBride Page 9
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Reconciliation of net expenditure to net cash flow from operating activities Net expenditure for the year Depreciation of tangible fixed assets Net gains/ (loss) on investment assets Investment dividends received and reinvested (Increase)/ Decrease in debtors (Decrease) /Increase 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 2024 Cash and cash equivalents at 30 September 2025 |
£ (35,315) 2,437 46,965 (24,223) (449) 1,629 |
2025 £ (8,956) - |
£ 55,054 2,724 (103,011) (25,924) (58) (14,019) |
2024 £ (85,234) - |
||
|---|---|---|---|---|---|---|
| - | - | |||||
| (8,956) 30,258 |
(85,234) 115,492 |
|||||
| 21,302 | 30,258 |
The notes on pages 11 to 19 form part of these financial statements.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE FAIRBANK SOCIETY
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), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
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 amounts in these financial statements are rounded to the nearest £.
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:
-
The charity has entitlement to the funds;
-
any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;
-
there is sufficient certainty that receipt of the income is considered probable; and
-
the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of:
-
the date on which the charity is aware that probate has been granted;
-
the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made; or
-
when a distribution is received from the estate.
Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make 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.
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.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting Policies (continued)
Donations
Monetary donations to the Charity are credited to the income and expenditure account on a receipts basis.
Investment
Investment income recognised in the accounts are dividends received from shareholdings and then reinvested back into the portfolio. Income is recognised on entitlement which is usually receipt.
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:
-
Expenditure on charitable activities includes the costs of provision of the accommodation and other activities undertaken to further the purposes of the charity.
-
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Fixed assets and Depreciation
Freehold land and buildings are stated at cost.
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.
No depreciation is provided on freehold property as, in the opinion of the trustees, the estimated residual value is so high and the estimated useful life is so long, as a result of the charity maintaining the property to such a degree that physical deterioration does not occur with the costs of such maintenance being charged against income in the year of incidence, that any charge and accumulated depreciation would be immaterial.
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.
The charity was in a net current liability position at the year-end of £595 but held £911,190 of liquid investments so there is not a going concern issue arising from this position.
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.
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.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE FAIRBANK SOCIETY
1 Accounting Policies (continued)
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.
Judgements and key sources of estimation uncertainty
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key assumptions, judgements and estimates
In the opinion of the Trustees’ there have been no significant judgements (apart from those involving estimates) made in the process of applying the above accounting policies, with the exception of the charity not depreciating its freehold property as explained below.
Freehold property – depreciation
The trustees have made a judgement to adopt an accounting policy of not depreciating freehold property and associated freehold property improvements on the basis that the estimated residual value is considered to be so high that any accumulated depreciation would be immaterial, and due to the charity maintaining a constant cycle of repair such that the property is not considered to depreciate in value.
There have been no key assumptions concerning future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 2 | Net Income for the Year | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Net income is stated after charging: | £ | £ | |
| Accountants Remuneration: | |||
| - Accountancy and Independent Examination | 2,074 | 1,920 | |
| - Other services | 2,152 | 1,926 | |
| Depreciation | 2,437 | 2,724 |
The net income for the year is attributable to the principal activity of the company and is earned entirely within the United Kingdom.
| 3 Income from Charitable Activities Rents from residents All income from Charitable Activities in the prior year was unrestricted. 4 Investment Income Sarasin Accumulation Fund |
2025 2024 £ £ 553,152 457,932 |
|---|---|
| 553,152 457,932 |
|
| 2025 2024 £ £ 24,223 25,924 |
All investment income in the prior year was unrestricted.
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Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
5 Expenditure on Charitable Activities2
| xpenditure on Charitable Activities2 | |
|---|---|
| Note Food and Provisions Cleaning and Equipment Insurance Council Tax Water Rates Gas Electricity Repairs and Renewals Sundry Expenses Out of hours care service Gardens Support costs 6 Staff Wages 7 |
2025 2024 £ £ 61,533 48,318 9,216 9,384 6,522 6,081 16,037 15,324 2,858 2,484 29,875 29,098 20,519 19,694 119,908 126,623 1,272 1,191 5,114 6,564 7,753 8,125 12,566 14,060 275,892 247,181 |
| 569,065 534,127 |
All expenditure on Charitable Activities in the prior year was unrestricted.
| 6 Support costs Depreciation Staff recruitment and advertising Telephone Accountancy Office expenses Professional fees Payroll bureau charges Bank Charges |
2025 2024 £ £ 2,437 2,724 449 1,278 821 1,098 2,074 1,920 4,432 3,695 142 1,355 2,152 1,926 59 64 |
|---|---|
| 12,566 14,060 |
Page 15
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
7 Directors and Employees
| Employee costs during the year: Wages and salaries Social Security Costs Employers’ Pension Costs The number of employees during the year was as follows: |
2025 2024 £ £ 259,880 233,459 12,002 10,331 4,010 3,391 |
|---|---|
| 275,892 247,181 |
|
| 2025 2024 19 16 |
There were no employees earning more than £60,000 (2024: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 (2024: Nil)
8 Tangible Fixed Assets
| Cost At 1 October 2024 Additions At 30 September 2025 Depreciation At 1 October 2024 Charge for the year At 30 September 2024 Net book value At 30 September 2025 At 30 September 2024 |
Freehold Property Property Improvements & £ £ 173,758 776,713 - - 173,758 776,713 - - - - - - 173,758 776,713 173,758 776,713 |
Fixtures Equipment Total £ £ 162,630 1,113,101 - - 162,630 1,113,101 138,488 138,488 2,437 2,437 140,925 140,925 21,705 972,176 24,142 974,613 |
|---|---|---|
Freehold property is property held for letting and is included at original cost plus amounts incurred on development.
Page 16
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
9 Investments
| Valuation at 1 October 2024 Additions Unrealised investment gain in year Valuation at 30 September 2025 Historical cost at 30 September 2025 |
Listed £ 933,932 24,223 (46,965) |
|---|---|
| 911,190 | |
| 685,084 |
The market value and historical cost of listed investments is made up as follows:
| Sarasin Investment Fund 229,949.334 Alpha CIF Acc Units B4RN Ordinary £1 Shares |
Historical Cost Market Value Historical Cost Market Value 2025 2025 2024 2024 £ £ £ £ 673,686 11,398 899,792 11,398 650,005 10,856 923,076 10,856 |
|---|---|
10 Debtors: Amounts Falling Due Within One Year
| 10 Debtors: Amounts Falling Due Within One Year |
|
|---|---|
| Prepayments 11 Cash at Bank and in Hand Bank current account Petty Cash |
2025 2024 £ £ 4,270 3,821 4,270 3,821 |
| 2025 2024 £ £ 21,164 30,236 138 22 21,302 30,258 |
Page 17
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 12 | Creditors: Amounts Falling Due Within One Year | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Accruals | 2,074 | 1,920 | ||
| Other creditors | 19,025 | 19,645 | ||
| Social security and other taxes | 5,068 | 2,973 | ||
| 26,167 | 24,538 | |||
| 13 | Funds | |||
| Both these funds are Unrestricted Funds. | ||||
| Investment | ||||
| Total | Accumulated | Revaluation | ||
| Fund | Fund | |||
| £ | £ | £ | ||
| Balance at 1 October 2024 | 1,918,086 | 1,645,014 | 273,072 | |
| Surplus for the year | 11,650 | 11,650 | - | |
| Unrealised Investment loss in year | (46,965) | - | (46,965) | |
| Balance at 30 September 2025 | 1,882,771 | 1,656,664 | 226,107 | |
| Investment | ||||
| Total | Accumulated | Revaluation | ||
| Fund | Fund | |||
| £ | £ | £ | ||
| Balance at 1 October 2023 | 1,863,032 | 1,692,971 | 170,061 | |
| Surplus for the year | (47,957) | (47,957) | - | |
| Unrealised Investment gain in year | 103,011 | - | 103,011 | |
| Balance at 30 September 2024 | 1,918,086 | 1,645,014 | 273,072 | |
| 14 | Analysis of net assets between funds: Current year | |||
| Fixed assets | Net current | Total | ||
| assets | ||||
| Restricted funds | - | - | - | |
| Unrestricted funds | 1,883,366 | (595) | 1,882,771 | |
| Total funds | 1,883,366 | (595) | 1,882,771 |
Page 18
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
15 Analysis of net assets between funds: Prior year
| Analysis of net assets between funds: Prior year | |
|---|---|
| Restricted funds Unrestricted funds Total funds |
Fixed assets Net current assets Total - - - 1,908,545 9,541 1,918,086 |
| 1,908,545 9,541 1,918,086 |
16 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 £4,010 (2024: £3,391). Contributions totalling £728 (2024: £654) were payable at the year end.
17 Capital Commitments
The Charity had no capital commitments at 30 September 2025 or 30 September 2024.
18 Contingent Liabilities
There were no contingent liabilities at 30 September 2025 or 30 September 2024.
19 Company Status
The company is limited by guarantee under the Companies Act 2006. The liability of the members is limited to £1 per member in the event of a winding up. The company is a Registered Charity, number 258882.
20 Control
No single individual has had control of the charity in the current or previous year.
21 Related Party Transactions
There were no related party transactions during the current or previous period.
Page 19
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
DETAILED INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Schedule Deficit of expenditure over income Rents from residents Expenditure 1 Operating Surplus Donations and legacies Investment income 2 Miscellaneous income Solar Panel Income Management & administration expenses 4 Net (Expenditure) / income/ for the year |
2025 2024 £ £ 553,152 457,932 (556,499) (520,067) |
|---|---|
| (3,347) (62,135) 904 500 24,223 25,924 - - 2,436 1,814 (12,566) (14,060) |
|
| 11,650 (47,957) |
Page 20
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 House Operating Surplus
2025 2024 £ £ Total Total 556,492 460,247
| Income Rents from residents Expenditure Food and Provisions Cleaning and Equipment Insurance Council Tax Water Rates Gas Electricity Repairs and Renewals Sundry Expenses Out of hours care service Gardens Staff Wages Operating (Loss) / Surplus |
556,492 460,247 |
|---|---|
| 61,533 48,318 9,216 9,384 6,522 6,081 16,037 15,324 2,858 2,484 29,875 29,098 20,519 19,694 119,908 126,623 1,272 1,191 5,114 6,564 7,753 8,125 275,892 247,181 |
|
| 556,499 520,067 |
|
| (7) (59,820) |
Page 21
Docusign Envelope ID: 780A5CC9-EDA6-47E5-971E-68F82087C585
THE FAIRBANK SOCIETY
SCHEDULES TO THE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 2 Investment Income Gross income Sarasin Accumulation Fund 3 Miscellaneous Income Guest room 4 Management and administration expenses Depreciation Staff recruitment and advertising Telephone Accountancy Office expenses Professional fees Payroll bureau charges Bank Charges |
£ 2,437 449 821 |
2025 £ 24,223 |
£ 2,724 1,278 1,098 |
2024 £ 25,924 |
|---|---|---|---|---|
| 2025 700 |
2024 300 |
|||
| 700 | 300 | |||
| 3,707 8,859 |
5,100 8,960 |
|||
| 2,074 4,432 142 2,152 59 |
1,920 3,695 1,355 1,926 64 |
|||
| 12,566 | 14,060 |
Page 22