Company registrallon number., 00961985 Charily regislralion number.. 259776 The Abbe￿ield Worcester and Hereford Society Limited (A company limited by guarantee) Annual Report and Financial Statements for the peri(xl from 1 October 2023 10 31 March 2025 The Abbeyflold Worcester and Hereford SoGlety Limited Contents Referonco and Adminislratlve Details Tr￿SleeS, Report 2105 Independent Auditors, Report 6108 statement of Financi81 Acliwlies 91010 Balance Sheet 111012 Slalemenl of Cash Flows 13 Notes to the Financial Statements 141026 Tho Abbeyfield Worcester and Hereford Soclety Limlted Reference and Admlnlstratlve Details Trustees P J Rayer G A Harris P S Kendal DrSGKing P C Scaiff Prlnclpal Offlce Whlslon Court 20 White Ladlas Close Worcester WR11QA Company Reglstratlon Number 00961985 Charlty Reglstratlon Number 259776 Sollcltor8 Harrison Clark Rickerbys Limited 5 Deansway Worcester Worceslershire WR12JG Audltor Ballards LLP Slatulory Auditor Oakmoore Court 11 C Kingswood Road Hampton Lovell Droilwich Vvorcestershire WR9 OQH Page I The Abbeyfield Worcester and Hereford Soclety Llmlted Trustees. Report The trustees, who are directors for Ihe purposes of company law, present tho annual report together wllh the financial slal8m6nls of the charitable company for the period ended 31 March 2025. The Iruslees have adopted the provisions of Accounling and Reportlng by Charities.. Slalemenl of Recommended Pracllce applicable to charilles prgparlng their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and R@publlc ol Ireland IFRS1021 leffeclive 1 January 2019}. Oblectlves and activitiés Objects and alms The objects of the charily are lo enhance the quality of life for older people by providing a Service whlch offers a home for Ille integrated in a local community of high quality accominodalion and a slimulaling envlronment lo maintain a socially actlve communlly that will directly benefit Ihe mlnd, body and soul. Publi¢ benefit The trustees confirm that they have complied wlh the requlremènls of section 4 of the Charities Act 2011 to have due iegard to the public benefit gvidance publish8d by the Charity CommissSon for England and Wal8s. Use of voluntèers The companys dlreclors {and Iruslees) are all voluntary and, in addition to their governance responsibility, al80 undertake various lasks lo assSsl In th8 operallon Df the company. The board is grateful lo a small number of volunteers who participate In residents, soclal aclivilies. Achlgvements and performance R8vlow of buslness and results for the year The Irustees decided to change the year-end in order lo bring il into line wSlh the prlncipal annual changes 2flecling ils financial performance. This required extending the year by another six months, so that these accounts cover the period from 1 Oclobar 2023 10 31 March 2025. The soclely showed an overall loss of £618,526 for the 18-monlh period after laklng accounl of an impAirmenl charge of £564.737 in relation lo apartments al Whislon Court, Wor¢esler. This charge rgfl@cls Ihe fall in value boing experianced in the resale market for retirement properties by owners of long-leasehold apartments whose occupants had passed away or moved inlo care homes. 11 should be nolod that this fall in valu& did not affect the financial performance of the soclety, which conlinuod lo recelve income from the owners of the apariments under the terms of their leasehold agreements, several of whom are ber¢efiling from tha sub-letting of Ihelr apartments to the soclely, whlch is in turn letting them to new occupants. Nor is the society affected by any change in the socletls rental 8ccommodatlon in either Worcest8r or Hereford. The eflect of the impalrmant tharge IS that the Sa￿ellS net assets stood at £1,766,234 al the end of the year, compared wlh £2.384.760 at the end of the previous year. Page 2 The Abbeyfield Worcester and Hereford Soclety Llmlted Trustees, Report Future dtrvelopments The soclety18 presently focussed on arranging for additional long-term l@nd5ng which will enable il to purchase some of the long-leasehold apartments available for sale and add Ihese lo ils holding of investment property In Worcester available for renling. Flnanclal review Policy on reseNes The Board is reviewing ils reserves policy in Itrle light of its changed clrcumslances bul is planning to mainlain sufflcienl gener81 funds lo finance the expendilure of the company over the following 12 months. Investment pollcy and objgctlves The board of directors exerases appropriate care and discretion in deallng wllh the compan￿$ flnanclng and ils investmant in both long-lemi and short-lerm assets. minimising buslness risk. structurei governanc6 and management Nature of governlng document The Soclely is governod by ils Memorandum and Artlcles of AssocialFon and was incorporated on 15 September 1969 as a COFnpany limited by guarantèe wlth no share cpailal,. the Company Number 18 00961985. The Society Is al.80 ragislered as a charity, Charlty Number 259776, and with the Housing Corporallon as a Regi818red Social Housing Provider, Number H2907. Recrultment and appolntmont of trustees New Iruslees are recruited and appolnled al the dlscretlon of Ihe exlsling Iruslees. Inductlon and tralnlng of Irusteos New trusl8es are instructed in Ihelr dulles by the exlsllng Irusl808 and ar8 required lo be aware of the guidan￿ lo Injslees issued by the Charity Commlsslon. Organlsatlon81 structure All trustees aro members of tha 8xeculive commillee which Is charged with the management of the charity In furtherance of ils princlpal aclivily, fund management and financial affairs genèrally. One third of the trustoes must retire by rotation each year, bul are ellgib16 for re-election. FSnanclal rlsk management ObJeGtlves andpollclès The charills aclivili@s axpose it to a number of fln8nclal risks including crÈdll rlsk, cash flow rlsk and Ilquidily risk. The use of financlal derivallves Is govemed by the charlty's pollcies approved by the board of trustees, which provide written prlnclples on Ihe use oi financial derivatives to man8ge these rlsks. The charity does not use derivalive financlal Instruments for speculative wrposes. Page 3 The Abbeyfield Worcester and Hereford Soclely Llmlted Trustees, Report Credlf rlsk The charity's principal financial assets are bank balances and cash. trade and other receivables, and stock. The charity's credit risk is primarily allribulable to ils trade receivables. The credll risk on liquld funds and derivative financial inslrumonls is limited because the counterparties are banks wilh high credll-rallngs assigned by inlemalional credil-raling agencies. Liquldity rlsk In order to maintain liquidity lo ensur8 that sufficient funds are available for ongoing operallons and future developments, Ihe charily uses a mixtur8 ol long-lerm and short-lerm debt finance. statement of trustees responslbilltles The Irusl&os (who are also the direclors of The Abbeyfield Worctssler and Hereford Soci8ly Limilod for the purposes of company lawl are responsible for prepartng the Iruslees, report and the financial slalom6nls in accordance with the United Klngdom Accounting Standards IUt)i18d Kingdom Generally Accepted Accounting Practice) and applicable law and regulallons. Company law requires the Irustoes lo prepare financial slalemenls for each flnancial perlod. Under company law th6 trustees musl not approve the financial slatemenls unless Ihay are satisfied that they give a true and falr view of the stale of affairs of Ihe chsrllable company and of ils incoming resources and application of resources, including 118 Income and expendilure. for Ihal period. In preparing these financial stalemenls, the Iruslees are required to.. select suilable accounting poliaes and apply them consislenlly., observe the methods and princlples in the Charities SORP; make judgements end eslimates thal are reasonable and prudent- stale whether applicable UK Accounting Standards have be8n followed, 8ublecl lo any material departures disclos8d and explained in the financial slalemenls-, and prepare the finandal statements on the golng concern basis unless il is inappropriate lo presume that the charitable company will conllnue in business. The Iwslees are responslble for kogping adequate accounting records that ara sufficlenl lo show and explain the charitable companls Iransaclions and disclose with reasonable accuracy al any lime the financial posllion of the chari18ble company and enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of tha chari18bl& company 2nd hence for laklng reasonable steps for the prevention and d6leclion of fraud and olh8r irregukgrilies. Dlsclosure of Informatlon to audltor Each tru8lee has lak&n stops th81 they ought lo h2ve taken as a Iruslee in order lo make themselves aware of any relevant audit inlormalion and lo eslabllsh that the charlly's auditor is aware of that information. The Iru8lee8 confirm (hal there is no relevant Snformallon that Ihey know of and of which they know thè audllor Is unaware. Reappolntment of audltor The auditors, Ballards LLP, Slalulory Auditor, will be proposed for re-appoinlmenl al the forthcomlng Annual Genéral Méollng. This report has been prépared In accordance wllh the spoci81 provisions of Part 15 of the Companles Act 2006 relating lo small companles. Pag8 4 The Abbeyfteld Worcesler and Hereford Society Llmlted Trustees, Report 18 Nov 2025 The annual report was approv8d by the Iruslees of the charity on behalf by.. and signed on ils G A Harrls Tnjstee Page 5 The Abbeyfleld Worcester and Hereford Society Llrnlted Independent Audltorfs Report to the Members ofThe Abbeyfleld Worcester and Hereford SoGlety Llmlted Oplnio We have audited the financial slalemenls of The Abbeyfield Worcester and Horeford Soclely Limiltsd (the 'charily') for Ihe period from 1 October 2023 10 31 March 2025. whlch comprise the Slalem8nl of Financial Aolivilies, B81ance Sheet, Slalemenl of Cash Flows, and Notes lo the Financial Slalemenls, including a summary of significant accountlng poliGles. The flnancial reportlng framework Ihal has boon appli8d In Ihelr preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Irèland, and appllcable law Iunllod Klngdom Generally Accepled Accounting Practice). Thls report is made solely lo Ihe charitable companws Iruslees, as a body. in accordance with Section 144 of th6 Cliarill6s Act 2011 and regulations Made under Section 154 of that Act. Our audit work has been undertakan so Ihal we might slate to the charills Irustees those malters we are required to slate lo them In an audllor's repori and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other Ihan the charllable company and ils trustees as 8 body, for our audll work, for Ihls roport, or for the opinions we have formed. In our opinlon the financial slalemenls-. give a true and fair view of the sla18 of the charitys aftalrs as al 31 March 2025 and of ils results for the period then ended-, have been properly prepared accordance wllh Unlled Kingdom Generally Accepted Accounting Practice,. arKI h8ve been prepared In accordance with the requirements of the Compgnies Act 2006. Basls for oplnion We conducted our audlt in accordallce TAilh llllerllalional Sl Balance Sheet as at 31 March 2025 1 aFiq&yaJtsslalemenls on page¥ 9 to 26 were approved by the Iruslees, and aulhorised for issue on and signed on Ihelr behalf by.. G A klarris Trusl8e Page 12 The Abbeyfield Worcester and Hereford Society Llmlted Statement of Cash Flows forthe Period from l October 2023 to 31 March 2025 30 September 2023 31 MarGh 2025 Note Cash flows from operating activities Net cash expenditure 1618,5261 117,256) Adjustments to cash flows from non-cash Items Depreciation Interest received Interest payable Revaluation of investments 47,835 (146) 162.927 564,737 156,827 34.964 (491 84,715 102.374 Working Capital adjustments {Inoreaselldecreas8 In d6btor8 Decrease in creditors Increase in deferred income 14 15 16 120,784) (1,149) 7,209 1.613 111,1061 Nel Gash flows from operaling activities Cash flows from Investing actlvltles Interest reLeivabl& and similar income Interest payable Purchase of tangible fixed asse18 142,103 92.881 146 1162,927) 1,497 49 184.7151 {2,,524 12 Nel cash flows from investing aclivllles {164,278) 187,1901 Cash flows from flnanclng actlvltles Repayynenl of loans and borrowlngs Nel decrease in cash and cash equfvalenls 15 34.957 29,699 157.132) 159,400 124,008) 183,408 159,400 Cash and cash equivalents al l October Cash and cash equlvalenls al 31 March 102.268 All of thè cash flows are derived from continuing operations during the above two perlods. Page 13 The Abbeyfleld Worcester and Hereford Soclety Llmlted Notes to the Flnanclal Statements for the Perlod from l October 2023 to 31 March 2025 1 Charity status The oharily is a charity limlled by guarantee and consequèntly does not have share capilal. 2 Accounting pollcles Statement of compllance The financial slaleinenls Df the charitable Company, whlch is a public benefit enlily under FRS 102. have been prepared in accordance with the Charities SORP IFRS 102) 'Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Finallcial Reporting Standard applicable In the UK and Republic of Ireland {FRS 1021 {gffe¢live 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicabla in the UK and Republlc of Ireland, and the Con)panies Act 2L)06. Basls of preparation The financlal statemen18 have been prepared under the hlstorical cost convention, as modifi8d by the revaluallon of cèrtaln ass61s. Going concern The Iruslees conslder that there are no material uncertaintl@s about the charilvs obilily lo continue as a going concem nor any significant areas of unc9rtainly that affect the Carr￿ng value of assets held by the charily. The society has SUNlved the pandemi¢ suocessfully and Ihe Board has no grounds for changlng the going con￿rn basis for the next 12 months. Income and endowments All income is rocognised On￿ the cha¥ity has enlillemenl to the income, il Is probab16 that the income will be received and the amount of the income receivable can be measured reliably. Expendlture Liabilities are recognls8d as oxpendilure as soon as there is a legal or constructive obllgallon commilling the charity to that expenditure, 11 Is probable that a transfer of economic benefits wll be required in settlement and th8 amount of the obllgallon can be measur8d reliably. Expenditure Is accounted far on an accruals basis and has been classlfied under headings Ih818ggregale all cost relal8d lo the category. Where costs ¢annol be dlroctly attributed to particular headings they have been a15ocaled lo acllvllles on a basis consislenl wllh the use of resour¢@s. Taxatlon The charily is exempt from corporation lax on ils charitable aclivllles. Page 14 ThB Abbeyfleld Worcester and Hereford Soclety Limited Notes to the Flnanclal Statements for the Perlod from l October 2023 to 31 March 2025 Tanglble flxed assets The expendiluie incurred in the conslruclion of the Whlslon Court property has been allocated into three areas on the balance Sheet depending on the natur9 of the expenditure and planned use of the assels. This has been split as follows: Tangib18 assets include areas of the property retained by and for the ongoing use of Ihe charily., Investment properly includes the cost of apartments, including an allocation of communal areas, which are intended lo be let by the charlly., and Stock includes the cost of apartm6nls, Including an allocalion of communal areas, whlch are In16nded lo be sold by the charily. Depreclation and amortlsatlon Depreclatlon is provid8d al the following annual rates in order lo write off each asset over Its estimated useful life. Asset class Freehold property Plant and machinery Flxlur8s and fittings Depreclatlon method and rate Slraighl line over 50 years Slralghl line belweon 5 and 25 years Slralghl line between 5 and 10 years Investment propertles Investment property is shown al most recent valualk)n. Any aggregate surplus or deficit arising from changes In market vallte is Iran61orred lo a revaluation reserve. Stock Stocks are valued al the lower of cost and nel realisable value, after maklng due allowance for obsolete and slow movlng items. Trade debtors Trade debtors aro amounts due from customers for merchandise sold or Se￿iceS perfomed in the ordlnary courso of business. Trade debtors aro recognised initially al Ihe transaction prlce. They are subsequently measured al amortlsèd cost uslng the effeolive interest melliod, less provlslon for impairment. A provision for tho impairment of trade debtors is established when there is objeclve evldence Ihal the charity will not b& able lo collect all amounls due according lo Ihe original terms of the recoivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid inveslmonls Ihal are rèadlly convertible lo a known amount of cash and are 8ublecl to an Inslgnificanl risk of change In v21ue. Page 15 The Abbeyflgld Wor¢estèr and Herèford Soclety Limited Notes to the Flnanclal Statements for the Perlod from l October 2023 to 31 March 2025 Trade créditors Trade creditors are obligations to Pay for goods or seNices that have been acqulred in the ordinary urse of business from suppllers. Accounts p&yablg are classified as current Ilabllilies if th8 charity doos not have an uncondillonal right. al the end ol the reporting period, lo defer s8lt16menl of the creditor for al least Iwelve months after the reportlng dale. If there is an uncondillonal right to d6feT selllement for at least Iwelve months after the repDrting dale, they are presented as non-currenl Trade credllory are recognised initially al the Iransacllon prlce and subsequently measured al amortls8d cost using the effective Interest method. Fund structure Unreslricled funds Gan be used in accordance wilh the charll8ble objecllves al the discretion of the Iruslees. Reslricled funds can only be used for particular restricted purposes within Ihe objgcls of Ihe charity. ReslriGllons artse when speclfled by the donor or when funds are raised for particular restricted purposes. Pensions and other post rellrement obligatlons The charitable company operates a defined conlribulion pension scheme. Contributions payable to the charitable companls pensions SGhem8 are charged lo the Slalement of Financial Aclivi118s in the period lo which they relate. 3 Income from donations and legacles Unrestrlcted funds Total Yearended Total 31 March 2025 30 Septèmber 2023 Restrlcted funds Ganaral Donations and legacies., Donations from individuals Other Income from donations and legacles 20.000 8,457 26,457 2,425 9,603 9,603 14,509 16,g34 29,602 6.457 36,060 Pag8 16 The Abbeyflold WorGester and Herèford Soclety Llmited Notes to the Flnanclal Statements for the Pèrlod from 1 October 2023 to 31 March 2025 4 Income from charltable actlvitles Unrestrlcted funds Total Year ended 30 September 2023 Total 31 March 2025 General se￿iCe charg8 income Income from letlings 695,254 314,337 695,254 314,337 1,009,591 421,466 210.301 631,767 1,009,591 5 Invèstment Income Unrestri¢ted funds Total Year ended 30 September 2023 Total 31 March 2025 General Interest recelv8ble and similar income. Interest recelvable on bank depos118 146 146 49 6 Expendlture on charitable actlvltles Unrestrlctèd funds Total Year ended 30 September 2023 Total 31 March 2025 Restrlcted funds General Note Governance costs 1,641,366 6,153 1,647,519 685,661 Pag8 17 The Abbeyfield Worcester and Hereford Soclely Llmlted Notes to the Flnanclal Statements for the Period from l October 2023 to 31 March 2025 7 Analysis of governance and support costs Governance costs Unrestricted funds Total Year ended 30 September 2023 Total 31 March 2025 Restrlcted funds General Staff costs Wages and salar188 Social security costs Penslon costs Audit fees Audit of Ihe financial slalemenls Slaff and Iruslee exponses Legal and professlonal fees Marketing and publicity Depreciation, amortlsalion and olher similar cosls Other governance costs 420,358 22,294 16,096 420,358 22.294 16,096 250,785 10,729 8,497 13,130 9,267 7,786 9,230 13,130 9,267 7,786 9,230 12,376 7,031 1,867 13,254 47,287 1,095,918 1,641,366 548 5,605 47,835 1,101,523 1,647.519 34,964 345,158 685,661 6,153 8 Net Incomlngloutgolng resourcas Nel incomellexpendilurel for the period is slated after charglnyl{crediling)'. 30 September 2023 31 March 202S Audit fees Depreciatlon of flxad assets 13,130 47,835 12,376 34,964 9 Trustees remuneratlon and expenses No Iruslees, nor any persons connected with Ihem, have received any rèmuner815on Irom the charity during the year. No Iruslees h8ve received any reimbursed expensès from the charity during the year. Page 18 The Abbeyfleld WorGester and Hereford Soclety Llmlted Notes to the Flnanclal Statements for the Period from 1 October 2023 to 31 March 2025 10 Staff costs The aggregate payroll costs were as follows.. 30 September 2023 2025 Staff Costs during the perlod were: Wages and salaiies Soc181 security costs Penslon costs 420.358 22,294 16,096 250,785 10.729 9,497 271,011 458,748 The monthly average numb8r of pergons (including senior management leaml ernployed by th8 charliy during the period expressed as full lime equivalents was as follows.. 30 Septembor 2023 31 March 2025 Full lime Part tlme 17 18 18 19 No employee received emolumenis of more than £60,000 durlng the period. 11 Audltors. remuneratlon Year endèd 30 September 2023 l October 2023 to 31 March 2025 Audit of the financial slatemenls 13,130 12,376 Page 19 The Abbeyfield Worcester and Hereford So¢lety Llmlted Notes to the Financial Statements for the Perlod from l October 2023 to 31 March 2025 12 Tanglble fixed assets Furniture and equlpment Land and buildings Total Cost Ai 1 October 2023 Addillons 523,840 400,429 1,497 924,269 1,497 At 31 March 2025 523.840 401,926 925,766 Depreciation At 1 October 2023 Charge for the year 78,750 15,750 290.704 32,085 369,454 47,835 At 31 March 2025 94,500 322,789 417,289 Net book value At 31 March 2025 429,340 79,137 508,477 At 30 September 2023 445,090 109,725 554,815 13 Flxed asset investmants 30 September 2023 31 March 2025 Inve81rngnt propgrties 2,835,840 3,400,577 Page 20 The Abbeyfield WorGest6r and Hereford Soclety Limited Notes to Ihe Flnancial Statements for the Period from 1 October 2023 to 31 March 2025 Investment propertles Investment properties Cost or Valuatlon Al 1 October 2023 3,400,577 Provision Chargo for the year 564,737 Net book value At 31 March 2025 2,835,840 AI 30 September 2023 3,400,577 14 Debtors 30 September 2023 31 March 2025 Trade debtors Pfftpaymenls Other debtors 21,424 7,564 943 6,360 1,843 944 29,931 9,147 15 Credltors: amounts falllng due wlthin one year 30 September 2023 31 March 2025 Bank loans Trade credllors Other laxalion and soelal security Olher creditors Accruals D6forred income 20,950 4,048 27,608 10,846 20,121 7,209 1,675,407 32,803 10,848 20.121 90,782 1,739.179 Paga 21 The Abbeyfield Worcester and Hereford Soclety Llmlled Notes to the Financial Statements for the Perlod from 1 October 2023 to 31 March 2025 Bank borrowlngs During the period, the company rellnanced its exlsling loan facilities loan facilities in March 2024. The new faollilies are detailed b8low and replace the above facilllles in place al the balan￿ sh8et dale.. 1. A £1,250,000 facility repayabl6 In full In March 2027; and 2. A £411,000 facility of which 150/0 is repayabl8 in instalments DV8r the next 3 years, and the remaining 859/0 is repayable in a single payment in March 2a27. 16 Creditors: amounts falllng due after one year 31 March 2025 Bank loans 1,619.500 17 Penslon and other $Ghemes Defined contribullon penslon scheme The charity opÈrale8 a defined contribution penslon schome. The pension cost Gharge for the period represents contributions payable by the chdrlly lo the scheme and atnounled lo £16,096 12023 £9,497). 18 Commltments Capltal commltm8nts The total amount contracted for bul not provided in the finar)cial statements was £Nil (2023 - £Nill. 19 Contlngent Ilabllltles A contingent liability of £300,633 exlsls in r&lalion lo a granl that was re￿iVed and in prlor years has been presènted as a liability, nelled off ag8in81 th& investment property Valuation, In respect of the Herelord premises. In 2021, the decision wa8 taken lo gross up the valuation as the liability is unllkely to ever be repald. A gain was recognised in the slal8menl of financial aclivilies. Page 22 The Abbeyfield Worcester and Hereford Soclety Limlted Notes to the Flnanclal Statements for the Perlod from 1 October 2023 to 31 March 2025 20 Funds Balance at 1 October 2023 Balance at 31 March 2025 Incoming Resource5 resources expended Transfers Unrestricted funds General {2,384,7601 (1.039,3401 1,658,170 8,457 6,153 1304) (1,766,234) 304 Restrlcted funds Total funds 2,384,760 1,045,797 1,664,323 1,768,234 Balance al 30 September 2023 Balance at 1 Octob8r 2022 Incoming Resources resources expended Transfers Unrestricted fund5 Ganeral 12,391,742) 1669,2351 10.274 2.425 687,ogs (10,8781 12,384,760) 10,878 Re5trl¢ted funds 1,821 Total funds 2,402.016 671,6601 888.916 2,384,760 The reslrlcled fund8 are pdmarily mad6 up of donations received from anonymous benefactors. The expenditure from ra8lrirtad fund8 rAlalA.q lo the dfiprac5allon ehargp8 for fixed assets which have been ffnanced by those anonymous bEJnefaclor grants. Th& remalning funds are unreslricled. 21 Analysls of net assets between fund8 Unrestrlcted furtds Gèneral Total funds Tangible lixed assets Fixed asset investments Current assets Current Ilabllilles Creditors over l year 508,477 2,835,840 132,199 {90,7821 1,619,500 1,766,234 508,477 2,835,B40 132,199 190,7821 1,619,500 1,766,234 Total nel assets Pag8 23 The Abbeyfleld Worcester and Hereford Soclety Limited Notès to the Flnanclal Statements for the Perlod from 1 Octobar 2023 to 31 March 2025 22 Related party transactions There were no related party Iransacllons In the period. Page 24 The Abbeyfield Worcestor and Hereford Society Limited Notes to the Financial Statements for the Period from 1 October 2023 to 31 March 2025 Total Year ended 30 September 2023 Total 31 March 2025 Note Income and Endowments from.. Donalions Donalions Other income Income from letlings Income from sublellings S8¥vice cli8rge income Interest on cash dep08ils Olher income 20,000 6,457 9,603 296,073 18.264 695,254 146 2,425 14,509 206,208 4,093 421,466 49 22,910 Total Income 1,045,797 671,660 Expendlture on: ExpendSlure for subletting Wages 2nd salaries Staff NIC (Empk)yersl S18ff pensions (Defined contribulionl Staff and trustee expenses Rates Water rates Light, heal and power Insiirane Repairs and malntenance Telephone and broadband Membership fee Sundry expenses Surbdry expenses Catering and cleanlrtg Marketing and publicity The audll of the charity's annual accounts Legal and professlonal fees Irrecovorabla VAT Bad d8bls wrillen off Bank charges Interest payable D&precialion of freehold property Depreciation of plant and machinery Depreci211on of fixtures and fillings Depr&ci81ion of fixtures and flttlngs (Gainllloss on programm& related investments 116,8041 1420,3581 122,2941 116,0961 19,267} {14,2931 116,3111 1108,271 } (36,383} {54,990) (5,996) {18,898) {5.634) (5,605) 174,796) {9,230) 113.130) 17,786) 122,208) 11.4411 19,0331 {162,9271 115,750) 117,8061 113,7311 1548) 564,737 13,255} {250,7851 (10,729) 19,497) 17,031) 13.847 19,992 {73.365) {26,173 (51,6941 {4,2761 111,1671 (8,3831 {1,4441 148,2361 113.2541 112,3761 11,8671 117,6311 13,8801 13551 (84,7151 (10,5001 {12,2641 (11,8231 {377) Page 25 The Abbeyfield Worcester and Hereford Society Llmited Notes to the Financial Statements for the Perlod from 1 October 2023 to 31 Mar¢h 2025 Total Yearended 30 September 2023 Total 31 March 2025 Note Total Expenditure Nel expenditure 1,664,323 688.916 618,526 17,256 Nel movement in funds 1618,526) 117.2561 Reconclllatlon of funds Total funds brought foNard Total funds carried fO￿ard 2,384,760 1.766.234 2,402,016 20 2,384,760 Page 26 14Wkns Dovjm