2020-09-30-accounts - The Abbeyfield Worcester And Hereford Society Limited

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Reference and Administrative	Reference and Administrative
Trustees' Report		2to 5
Independent Auditors'	Report	6to 6
Statement of Financial	Activities
Balance Sheet		10to 11
Statement of Cash Flows		12
Notes to the Financial	Statements	13to 23

			Reference and Administrative	Reference and Administrative	Reference and Administrative	Reference and Administrative
Trustees				Miss A England
				Miss PJ Rayer
				G A Harris
				PS Kendal
				DrSG King
				P C Scaiff
Principal	Office			Whistcn Court
				20 White Ladies	Close
				Worcester
				WR1 1QA
Company	Registration		Number	00961985
Charity Registration		Number		259716
Solicitors				Harrison Clark Rickerbys		Limited
				5 Deansway
				Worcester
				Worcestershire
				WR1 2JG
Auditor				Ballards LLP
				Statutory Auditor
				11cKingswood	Road
				Hampton Lovett
				Droilwich
				Worcestershire
				WR9 OQH

			Unrestricted	Restricted	Total
		Note	funds f	fundsf	2020f
Income end Endowments	from:
Donations and legacies			12,455	4,278	16,733
Charitable activities			697,087		697,087
Total Income			709,542	4,278	713,820
Expenditure on:
Raising funds Charitable activities		6	(129,287) ~568.779	~284	(129,287) ~580922
Total Expenditure Gains/losses on investment	assets		(698,066) 21,599	(284)	(698,350) 21,599
Net income			33,075	3,994	37,069
Net movement in funds			33,075	3,994	37,069
Reconciliation offunds
Total funds brought forward			2,158,810	4.430	2,163246
Total funds carried forward		20	2,191,885	8,430	2,200,315
			Unrestricted	Restricted	Total
		Note	funds f	fundsf	2019 f
Income and Endowments	from;
Donaticns and legacies		3	4,383	3,285	7,668
Charitable activities		4	1,758,183		1,758,183
Investment inccn3e		5	4		4
Total Income			1,762,570	3,285	1,765,855
Expenditure on;
Raising funds Charitable activities Total Expenditure		6	(976,468) ~665900 ~1.042,424	~304 ~321	(976,468) ~099257 ~1,042,720
Net income			120,146	2,984	123130
Net movement in funds			120,146	2,984	123,130
Reconciliation offunds
Total funds brought forward			2,038,664	1,452	2,040,116
Total funds carried forward		20	2,158,810	4,436	2,163,246

		Note	2020 E	2019 f
Fixed assets
Tangible assets		12	646,383	848,921
Investments		13	3,099,944	2,910,944
			3,746,327	3.559881
Current assets
Stocks		14		296,688
Debtors		15	13,084	12,118
Cash at bank and in hand			263,932	225,517
Creditors: Amounts	falling due within one year	16	277,016 ~89,399	534,323 ~78949,
Net current assets			187,617	454,374
Total assets less current liabilities			3,933,944	4,014,239
Creditors: Amounts	falling due after more than one year	17	~1,733.629	~1,858,853
Net assets			2.2116,315	2,183,248
Funds ofthe charity;
Restricted funds			8,430	4,436
Unrestricted income	funds
Unrestricted funds			2,191,885	2,158,810
Total funds		20	2,200,315	2,163,246

			2020
		Note	8
Cash flows from operating activities
Net cash income			37.069	123,130
Adjustments to cash flows from non-cash	items
Depreciation			39,011		35,023
Interest received					(4)
Interest payable Revaluation of investments			69,599 ~21,509		82,037
			124,060	240,188
Working capital adjustments
Decrease in stocks		14	129,287	976,488
(Increase)/decrease in debtors		15	(966)		7,367
Increase/(decrease) in creditors (Decrease)/increase in deferred income		16 17	16,780 ~8,47~		(41,751) 1,215
Net cash flows from operating acgviTies			2611,766	'1,110485
Cash flows from investing activities
Interest receivable and simile~ income		5			4
Interest payable Purchase oftangible fixed assets		12	(69,599) ~36473	~.	(82.037) 4.457
Net cash Iiows from investing activities			~106il72	~,	80,404
Cash flows from financing activities
Value of new loans obtained during the period Repayment of loans and borrovnngs		16	~710,270	2,100,000 ~3. 024, 660
Net cash flows from financing activities			~716,279	~642,M0
Net increase in cash and cash equivalents			36,415	154,993
Cash and cash equivalents at 1 October			225,517		70,524
Cash and cash equivalents at 30September			263,932	220017

				Unrestricted
				funds
					Restricted	Total		Total
				General	funds	2020		2010
				6		6		0
Donations	and legacies;
Donations		from individuals			4,278	4,278		3,435
Other income from donations			and
legacies				12,455		12,455		4,233
				12,455	4,278	18733	,	7FM8

Governance costs
			Unrastr(cted
			funds
				Restricted	Total	Total
			General	funds	2020	2019
			2	6	S	2
Staff costs
Wages and salaries			224,094		224,094	214,768
Social security costs			11,565		'i1,565	8,114
Pension costs Audit fees			9,106		9,106	8,919
Audit ofthe financial statements Staff and trustee expenses			7,850 2,914		7,650 2,914	9,450 4,747
Legal snd professional Estate agent fees	fees		6,194 6,558		6,194 6,556	38,961 38,273
Marketing and publicity			645		645	20,388
Depreciation, amortisation		and
other similar cosis			36,727		39,011	35,023
Other governance costs			261,126		264,126	287,596
			568,779	264	569,063	666,257

Net income/(	expenditure) for the year is stated after	cherging/(crediting):
		2020	2019
Audit fees Depreciation	offixed assets	11,590 39,011	9,450 35023

10Staff costs The aggregate payroll costs were as follows:
	2D20
	E
Staffcoats durtng the year were:
Wages and salaries	224,094	214,768
Social security costs	11,565	8,114
Pension costs	9,106	8,919
	244,765	231,001

chari	ty during the year expressed as full ti	me equivalents was as follows:
		2020		2010
		No		No
Full	time				1
Part	time		14		15
			15		16

11Auditors'	remuneration
Audit ofthe	financial statements

202D
7,850	9,450

12Tangible fixed assets		Furniture
	Land and	and
	buildings f	equipment f	Totalf
Cost
At 1 October 2019	523,840	346,438	870,278
Additions		36,473	36,473
At 30September 2020	523,040	302,911	408351
Depreciation
At 1 October 2019	36,750	184,607	221,357
Charge for the year	10,500	28,511	39,011
At 30September 2020	47,250	213,118	260,368
Net book value
At 30September 2020	476,590	169,793	646,383
At 30September 2019	481,11911	161,031	040,021
13Fixed asset investments
		2020	2019 f
Investment properties		3,099,944	2,910,944
Investment properties
			Investment
			properties f
Cost or Valuation
At 1 October 2019			2,910,944
Transfer from stock			189.000
At 30September 2020			3,099,944
Provision
At 30September 2020
Net book value
At 30September 2020			3,090,044
At 30September 2019			2.010,044

14Stock
			2020	2019
				6
Stocks				296,658
15Debtors
			2020	2019 f
Trade debtors			5,321
Prepaymenis			7,763	8,915
VAT recovemble				3,203
			13,084	'l2,118
16Creditors:	amounts	falling due within one year
			2020	2019
				6
Bankloans			27,364	26,279
Trade creditors			4,276	16,029
Other taxation	and social	security	33,219	2,315
Security deposits			12,180	14,550
Accrusls			12,360	12,360
Contribuficns	in advance			8,415
			39,399	79,949

17Creditors: amounts
	2020	2019
		K
Bank loans	1,733,629	1,669993

20 Funds
								Balance at
		Balance at					Other	30
		1 October 2019	Incoming resources		Resources expended		recognised galnsi7(losses)	September 2020
		E			E		E
unrestricted	funds
General Restricted	funds	(2,158,810) ~4,430	(709,542) ~4,278		696,066 204		(21,599)	(2,191,885) ~0,433
Total funds		~2, 163.240	~713.820		008,3511		~21.000	~2200315
								Balance at
								30
		Balance October	at 1 2018	Incoming resources		Resources expended		September 2019
		E			E		E	E
Unrestricted	funds
General Restricted funds		(2,038,664) ~1,452		(1,762,570) ~3.205			1,642,424 (2,158,810) 301 ~44$!
Total funds		~2.0 0.110		~1700000			1.042.725. ~, 2,103,240

21 Anal	ysis ofnet assets behueen f	unds
		Unrestricted
		funds
			Restricted
		General	funds	Total funds
		6		tt
Tangible	fixed assets	645,517	866	646,383
Fixed asset investments		3,099,944		3,088,944
Current	assets	277,016		277,016
Current Creditors	liabilities over 1 year	(89,329) ~3733629.		(89,329) ~1.733,629
Total net assets		2,199,519	866	2,200,385

				Total		Total
				2020		2018
			Note	8		8
Income and Endowments	from:
Donations						150
Donaticns				4,278		3,285
Other income				12,455		4,233
Income from lettings				184,238		201.821
Service charge income				347,324		339,262
Apartment sales				165,525		1,217,100
interest on cash deposits						4
Total Income				713020	,	1,700005
Expenditure on:
Cost of aparlments sold Wages and salaries Staff NIC (Employers) Staff pensions (Defined contribution) Staff and trustee expenses Rates Water rates Light, heat and power Insurance Repairs and maintenance Telephone and broadband Membership fee				(129,287) (224,094) (11,565) (9,106) (2,914) (4,200) (10,211) (47,366) (14,048) (26,957) (3,764) (14,344)		(976,468) (214,768) (8,114) (8,919) (4,747) (11,078) (7,346) (41,110) (13,678) (34,802) (3,708) (10,824)
Sundry expenses Catering and cleaning				(3,374) (48,938)		(4,322) (54,275)
Marketing and publicity The audit ofthe charity's annual accounts Legal and professional fees Estate agent fees Irrecoverable VAT Bank charges Interest payable Depreciation offreehold property Depreciation of plant and machinery Depreciation offixtures and fittings Depreciation offfxtures and fittings				(645) (7,850) (6,194) (6,558) (;8,087) (238) (69,599) (10,500) (11,260) (16,967) ~204	(20,386) (9,450) (38,981) (38,273) (22,756) (1,660) (82,037) (10,500) (10,363) (13,859) ~307
Total Expenditure Realised gainsffosses on investment		assets		(698,350) 21,599		(1,642,725)
Net income				37,000		123130
Net movement in funds				37,069		123,130

				Total	Total
				2020	201$
			Note	6	6
Reconciliation	of	funds
Total funds brought		forward		2,163,246	2,040,116
Total funds carried		forward	20	2.2PP 315	2,163,246