OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Company Number: 995212 Charity Number: 261970 Homes and Communities Agency Number: H1470

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

COMPANY INFORMATION

Company Number 00995212 Charity Number 261970 Homes and Communities Agency Number H1470 Executive Committee Mr R Forster Chairman Mr P Fountain Treasurer Mr D Cooknell Mrs J Pegler Mr J Sahota Secretary Mrs A Paget Mr R Gulati (appointed 16 April 2021) Ms S Augustine (appointed 20 October 2021)

Registered Office

56 School Lane Chalfont St Peter Bucks SL9 9BB

Bankers

National Westminster Bank Plc Gerrards Cross Branch 44 Packhorse Road Gerrards Cross Bucks SL9 8EA

Auditors

Cansdales Audit LLP Chartered Accountants & Business Advisors Bourbon Court Nightingales Corner Little Chalfont Bucks HP7 9QS

1

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

CONTENTS
Report of the Executive Committee 3
Independent Auditors’ Report to the members 7
Statement of Comprehensive Income (Incorporating an Income and Expenditure Account) 10
Balance Sheet 11
Notes to the Financial Statements 12
The following page does not form part of the statutory financial statements
Detailed Income and Expenditure Account 19

2

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

REPORT OF THE EXECUTIVE COMMITTEE FOR THE YEAR ENDED 31 MARCH 2022

The Executive Committee present their report and the financial statements of the Society for the year ended 31 March 2022.

Activity

The principal activity of the Society continued to be that of providing accommodation for elderly and perhaps lonely people in accordance with the aims and principles of The Abbeyfield Society Limited. The results for the year are set out in the Income and Expenditure Account.

Status

The Society was incorporated under the Companies Act as a company limited by guarantee. The Society is also a registered charity and is registered under the Housing Act. It is also registered with the Regulator for Social Housing (RSH).

Executive Committee

The Executive Committee are directors of the Society under Company Law and Trustees under Charity Law. Those who served during the year are as stated on the information page. The Society has no share capital. However, the Executive Committee Members are all Members of the Company. Under the Articles of Association, the serving Executive Committee may appoint additional Committee Members at any time.

Our Property

In the opinion of the Committee the market value of freehold land and buildings is in excess of £1M.

Review of the Year

At 1st April 2021 core rent was not changed whilst service and management charges were increased by 2.7% following the guidelines laid down by the Ministry of Housing,Communities and Local Government. Over the year the room occupancy was approximately 79%.

The Trustees’ efforts to raise the profile of the House had been successful; the House was full as on 31.03.2022.

In 2021/22, the major programme to upgrade the House facilities - particularly ensuite bathrooms - has continued. Capital expenditure was £10,980. A project to enhance the interior decoration of the communal areas of the House was initiated.

Value for Money Metrics

The Regulator for Social Housing, has required metrics which measure economy, efficiency and effectiveness to be completed; the seven metrics are designed to enable measurement on a comparable basis. These metrics have to be reported with the annual audited Financial Statements.

The Society’s house is a former residence dating back to 1910 which has space for 11 residents’ rooms. Currently the Trustees do not plan to expand the number of rooms.

The Society does not have any borrowings.

The return on capital is dependent on the surplus earned; it fluctuates according to the occupancy level.

The metrics for the current and previous year are shown below. Following the Executive Committee’s decision to introduce a more sustainable staffing level, to improve the system for emergency calls by the residents when the house managers are not on the premises and to comply fully with health and safety legislation developments, it is anticipated that the margins and return on capital will worsen in the next year.

3

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The Society does not have targets for these metrics.

  1. Reinvestment: 2022 – 6% (2021 – 2%).

  2. New supply delivered: 2022 – 0% (2021 - 0%).

  3. Gearing: 2022 – 143% (2021 – (141%)).

  4. EBITDA MRI Interest cover: - 2022 - 0% (2021: 0%).

  5. Social housing cost per unit: 2022 – £240,177 (2021: £258,973).

  6. Operating margin/(Deficit) (social housing only): 2022 – (10%) (2021: (17%)). Operating margin//(Deficit) (total): 2022 – (6%) (2021: (15%))

  7. The return on capital employed: 2022 – (3%) (2021: (8%)).

Public Benefit

The Executive Committee have considered the Charity Commission’s general guidance on public benefit and the Executive Committee have, in their view, met the public benefit requirement by making the Society available to any member of the public in accordance with its objects of providing accommodation for lonely and elderly people.

The Society as a Member Society of The Abbeyfield Society Ltd aims to enhance the quality of life for older people. It is believed that this is beneficial to the section of the public comprising elderly people who do not own their accommodation and in some cases cannot afford to rent at commercial rates but who are seeking comfortable accommodation which they can afford and where they may take advantage of living in a small community that provides companionship.

Insurance

The Society has Directors’ and Officers' Liability insurance for all the Committee Members in relation to the Society’s affairs.

Method of appointment of Executive Committee Members and organisational structure

New Members are appointed by the existing Executive Committee. The selection of the appointees is based on pertinent qualifications and/or relevant experience. Members receive a role outline in addition to a personalised induction from other Committee Members relevant to their duties. The Executive Committee jointly makes decisions affecting the Society and those decisions are recorded in meeting minutes. Training is provided principally through attendance at courses staged by The Abbeyfield Society Ltd that are aimed at keeping members abreast of changes in legislation or developments in practice.

Future Plans

The Executive Committee has put in place a more robust system for emergency calls by residents when the house managers are not on the premises.

In a recently completed strategy review, The Abbeyfield Society Ltd has encouraged smaller member Societies to consolidate their operations wherever possible. Acting on this guidance, the Executive Committee are exploring the potential for collaborating with other local Member Societies. Opportunities for overcoming difficulties in finding competent local tradespeople and containing costs are likely to be achieved.

The Executive Committee has initiated a review of the interior décor of the House and will be assessing the feasibility of refreshing the décor to make the House more appealing for existing and prospective residents.

4

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of members’ responsibilities

The members (who are also directors of The Abbeyfield Chalfonts Society Limited for the purposes of company law) are responsible for preparing the Executive Committees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the members 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 that period. In preparing these financial statements, the members are required to:

The members are responsible for keeping adequate 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.

In so far as the members are aware:

Reserves Policy

It is the policy of the Society to maintain unrestricted funds not designated or invested in tangible fixed assets (“the free reserves”) at a level which equates to approximately three months unrestricted expenditure for management and administration costs. The level was maintained throughout the year under review. The Executive Committee considers the current level of reserve funds and their increase a matter of importance for such an old house and to cover possible long-term occupancy voids.

Risk Management

The Executive Committee have conducted a review of the major risks to the work of the Society and of the controls and procedures in place to mitigate them. These procedures will be periodically reviewed to ensure that they still meet the needs of the Society.

The principal risks identified are:

Jeopardy to the reputation of the Society through

5

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

REPORT OF THE EXECUTIVE COMMITTEE (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Deterioration in the level of care provided due to:

Financial instability due to

In response to the pandemic, the Trustees introduced an extreme lockdown of the House to protect against this unprecedented threat. House Managers agreed to live in the House for 12 weeks from 24[th] March 2020 and were not permitted to leave the House for any reason. No visitors or staff not living in the House were given access. Following this period, guidelines for Supported Housing were followed as per the Government website.

Auditors

The Auditors, Cansdales Audit LLP, have expressed their willingness to continue in office and a resolution to reappoint them as auditors will be put to the Members at the Annual General Meeting.

This report has been prepared in accordance with the special provisions for small companies and paragraph 15 of the Companies Act 2006.

BY ORDER OF THE EXECUTIVE COMMITTEE

R Forster

Chairman

Date: 21/09/2022

Registered Office :

56 School Lane Chalfont St Peter Bucks SL9 9BB

6

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS FOR THE YEAR ENDED 31 MARCH 2022

Opinion

We have audited the financial statements of The Abbeyfield Chalfont Society Ltd (the ‘charitable company’) for the year ended 31 March 2022 which comprise Statement of Comprehensive Income, Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The executive committee are responsible for the other information. The other information comprises the information included in the executive committees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If,

7

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED

(A company limited by guarantee and not having a share capital)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the report of the executive committee.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the executive committee

As explained more fully in the statement of executive committee responsibilities, the members (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the executive committee determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the executive committee are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the executive committee either intends to liquidate the charitable company or to cease operations, or has no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

8

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 137 of the Housing and Regeneration Act 2008. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Foskett (Senior Statutory Auditor) For and on behalf of Cansdales Audit LLP Chartered Accountants & Statutory Auditors

Date: 27/09/2022

Bourbon Court Nightingales Corner Little Chalfont Bucks HP7 9QS

9

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED

(A company limited by guarantee and not having a share capital)

STATEMENT OF COMPREHENSIVE INCOME (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Turnover
13
Operating costs
14
Operating Surplus
Interest receivable
Deficit for the year
Transfer (to) designated reserves
Revenue Deficit for the year
8		 2022
2021
£
£
224,336
222,056
(240,177)
(258,973)
(15,841)
(36,917)
1,733
2,771
(14,108)
(34,146)
-
-
(14,108)
(34,146)

All the Society’s activities are classed as continuing.

The movements on reserves are shown in note 8 to the financial statements.

There were no recognised gains or losses other than the result for the year.

All funds are unrestricted.

.....................................................................R Forster (Chairman)

.....................................................................J Sahota (Secretary)

.....................................................................P Fountain (Treasurer)

The notes numbered 1 to 14 form part of these financial statements

10

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

BALANCE SHEET AS AT 31 MARCH 2022

Note
Tangible Fixed Assets
4
Current Assets
Debtors
5
Cash at bank and in hand
Creditors: Amounts falling
due within one year
6
Net Current Assets
Total Assets less Current
Liabilities
Capital & Reserves
Contributions made by members
8
Revenue reserve
8
Designated reserve
8		 2022
£
4,049
267,246		 £
186,881

247,665		 2021
£
3,008
274,506		 £
194,540

254,114
271,295
(23,630)		 277,514
(23,401)

434,546 448,654
11
364,535
70,000		 11
378,643
70,000
434,546 448,654

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

These financial statements were approved by the Executive Committee and authorised for issue on 21/09/2022. and are signed on their behalf by:

..............................................................R Forster (Chairman)

..............................................................J Sahota (Secretary)

.............................................................P Fountain (Treasurer)

Company Number: 995212

The notes numbered 1 to 14 form part of these financial statements

11

THE ABBEYFIELD CHALFONTS SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The Society constitutes a public benefit entity as defined by FRS 102.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) , the Statement of Recommended Practice for Social Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2019 (SORP 2018 and Accounting Direction 2019 both are in relation to accounting periods commencing from 1 January 2019). The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008 and the Companies Act 2006.

The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The financial statements are prepared in sterling, which is the functional currency of the Society, and rounded to the nearest £1.

SOCIAL HOUSING GRANTS (SHG)

Where developments have been financed wholly or partly by social housing and other grants, the amount of the grant received has been included as deferred income and recognised in Turnover over the estimated useful life of the associated asset structure (not land), under the accruals model. SHG received for items of cost written off in the Statement of Comprehensive Income Account is included as part of Turnover.

RECYCLING OF CAPITAL GRANT

Where Social Housing Grant is recycled, as described above, the SHG is credited to a fund which appears as a creditor until used to fund the acquisition of new properties, where recycled grant is known to be repayable it is shown as a creditor within one year. Recycling capital grant can be abated where sale proceeds are less than the original cost.

TURNOVER

Turnover represents rental and service charge income receivable, donations and revenue grants. All income is recognised on a receivable basis.

TANGIBLE FIXED ASSETS

Tangible fixed assets are stated at cost less depreciation. Such cost includes the cost of acquiring land and buildings, development expenditure, interest charged on mortgage loans raised to finance the scheme up to the date of completion and amounts equal to acquisition and development allowances receivable.

DEPRECIATION

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life as disclosed below:

Major building fixtures - 5% per annum on cost
Freehold Buildings - 2% per annum on cost
Equipment - 20% per annum on cost
Fixtures and Fittings - 20% per annum on cost

Freehold land is not depreciated.

Items of fixtures and fittings are only capitalised where the individual purchase price exceeds £500.

12

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES (Continued)

PENSION

The Society operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Society. Any annual contributions payable are charged to the Statement of Comprehensive Income.

EXPENDITURE

Expenses are accounted for on an accruals basis, inclusive of irrecoverable VAT.

FUNDS ACCOUNTING

Funds held by the Society are:

Unrestricted general funds – these are funds which can be used in accordance with the Society’s objects at the discretion of the Executive Committee.

Designated Funds – these are funds set aside by the Executive Committee out of unrestricted general funds for specific future purposes or projects.

The nature and purpose of each fund is explained further in note 8.

MAJOR REPAIRS

Major repairs expenditure of a capital nature is capitalised. Non capital expenditure is reflected in the income and expenditure account together with any related grant funding.

WORKS TO EXISTING HOUSING PROPERTIES

Any works which do not result in an enhancement of economic benefits of a property are charged to the Statement of Comprehensive Income. This includes expenditure incurred to ensure that the property can maintain its existing level of net rental income or the standard of performance anticipated when the asset was first acquired or constructed or last replaced.

2. OPERATING SURPLUS

2022 2021
£ £
This is stated after charging:
Auditors' remuneration 4,270 3,955
Auditors' remuneration for other services 2,290 2,624
Depreciation 18,041 15,250

13

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3. EMPLOYEES

Salaries and wages
Pension costs
Social Security costs

The average number of persons employed by Society
during the year expressed as full-time equivalents was:
The average monthly number of employees, including
part time employees		 2022
2021
£
£
127,798
146,496
3,687
3,355
4,307
6,844
135,792
156,695
3
3
8
8

There was no (2021 – none) employee whose annual employee benefits (including employer pension costs) were over £60,000.

The key management personnel of the charity comprise four members of staff (2021: five). The total employee benefits (including employer pension contributions) received by key management personnel for their services to the charity was £87,159 (2021: £95,398).

4. FIXED ASSETS

COST
At 1 April 2021
Additions
Disposals
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for the year
Disposals
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 Freehold
Property
Fixtures &
Fittings
Equipment
Major
Buildings
Fixtures
TOTAL
£
£
£
£
£
158,931
105,915
7,970
200,873
473,689
-
10,980
10,980
-
-
-
-
-
158,931
116,895
7,970
200,873
484,669
53,493
79,805
3,351
142,501
279,150
2,352
10,851
1,594
3,841
18,638
-
-
-
-
-
55,845
90,656
4,945
146,342
297,788
103,086
26,239
3,025
54,531
186,881
105,438
26,111
4,619
58,372
194,540

14

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5. DEBTORS

Prepayments
. CREDITORS: Amounts falling due within one year
Social Housing Grant
Accruals
Other creditors		 2022
2021
£
£
4,049
3,008
4,049
3,008
2022
2021
£
£
14,308
14,905
7,684
5,614
1,638
2,882
23,630
23,401

6. CREDITORS: Amounts falling due within one year

The average number of days between receipt and payment of purchase invoices was 7 (2021 : 7 days). The Social Housing Grant is being released to the statement of comprehensive income over its useful life. The amount released in the year was £596 (2021: 1,192).

7. CONTRIBUTIONS MADE BY MEMBERS

The Society is a company limited by guarantee and not having a share capital. The liability of each member is limited to £1. At 31 March 2022, there were 6 members (2021: 6).

8. RECONCILATION OF CAPITAL AND RESERVES

Contributions
from Members		 Revenue
Reserve		 Major
Repairs
Reserve		 Total
£ £ £ £
At 1 April 2021 11 378,643 70,000 448,654
Deficit for the year - (14,108) - (14,108)
At 31 March 2022 11 364,535 70,000 434,546

The Major Repairs Reserve is intended to provide a reserve for major repairs expenditure.

9. CAPITAL COMMITMENTS

There were no capital commitments at 31 March 2022 (2021: £nil).

10. CONTINGENT LIABILITIES

There were no contingent liabilities at 31 March 2022 (2021: £nil).

11. PAYMENTS TO COMMITTEE MEMBERS AND TRANSACTIONS WITH CONNECTED PARTIES

No amounts have been paid as fees, remuneration or expenses, nor any gifts or benefits provided to members of the Executive Committee or officers of the Society who were not employed, with the exception of out of pocket expenses amounting to £Nil (2021: £259).

15

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12. HOUSING STOCK

Number of units
Number of bedspaces		 Units in
Management
2022
2021
1
11
1
11

13. TURNOVER AND OPERATING DEFICIT FOR THE YEAR

Income and expenditure from lettings
Housing Accommodation
Other Income
Donations
JRS Grant Received
Turnover from Housing Accommodation
Residents charges receivable
Losses from voids/vacancies
Donations
Donations
Interest Income
Bank Interest		 2022
Turnover
Operating
Operating
Turnover
Costs
Deficit
£
£
£
£
210,428
(240,177)
(29,749)
212,094
264
-
264
-
13,644
-
13,644
9,962		 2021

Operating
Operating
Costs
Deficit

£
£

(258,973)
(46,879)
-
-

-
9,962

(258,973)
(36,917)
2022
2021
£
£
264,111
259,696
(53,683)
(47,602)
210,428
212,094
2022
2021
£
£
264
-
264
-
2022
2021
£
£
1,733
2,771
1,733
2,771		 2021

Operating
Operating
Costs
Deficit

£
£

(258,973)
(46,879)
-
-

-
9,962

(258,973)
(36,917)
2022
2021
£
£
264,111
259,696
(53,683)
(47,602)
210,428
212,094
2022
2021
£
£
264
-
264
-
2022
2021
£
£
1,733
2,771
1,733
2,771
224,336
(240,177)
(15,841)
222,056
264
-
2022
2021
£
£
1,733
2,771
1,733
2,771

16

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

14. OPERATING COSTS OF LETTINGS

Services
Management
Routine maintenance
Major Repairs		 2022
2021
£
£
200,861
215,176
21,177
18,094
18,139
18,818
-
6,886
240,177
258,973

15. Ultimate Controlling Party

The charity was under the control of the Board of Trustees throughout the year.

17

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The following page does not form part of the statutory financial statements

18

THE ABBEYFIELD (CHALFONTS) SOCIETY LIMITED (A company limited by guarantee and not having a share capital)

DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Income and expenditure from lettings
Residential charges
Other income
Donation
JRF Grant Received
Bank interest receivable
Total net income
EXPENDITURE
Management expenses
Audit and accountancy fees
Affiliation fee
Insurance
Natwest Mentor scheme
Advertising
IT Costs
Committee Expense
Secretarial & Postage
Bank Charges
Routine maintenance
Major Repairs
Service costs
Employee costs
Light, heat and water
Food costs
Miscellaneous
Council Tax
Garden Maintanence
Residents events
Call System
Telephone
Cleaning Costs
Staff Welfare cost
Training
Depreciation
Total expenditure
Deficit for the year		 2022
£
210,428
264
13,644
1,733
226,069
6,560
3,547
3,776
1,728
156
4,431
-
226
753
21,177
18,139
-
135,792
13,187
12,708
1,562
3,270
4,202
2,048
3,217
2,201
2,752
1,281
600
18,041
201,861
240,177
(14,108)		 2021
£
212,094
-
9,962
2,771
224,827
6,580
3,512
3,378
1,728
454
1,473
59
506
405
18,094
18,818
6,886
156,694
13,403
13,297
2,398
2,937
3,344
642
2,853
1,710
1,200
1,388
61
15,250
215,176
258,973
(34,146)

19