CompJry Plumber. 995212 Charfty Number. 261970 Illlmes and Comrnunltles Agenry Number: H1470 THE ABBEYFIELD CHALFoKfs SOClEfY LIM￿ED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ThEABBEYFIEU) CHALFONTS soaETYUMTr&) (A(ompany Iln*ed byBuawants*aDd rtot havh¥ C(X•ANYINFORMATION ComparyNumbEr 1x1995212 Charlty 261970 Home5 Jnd CoMTh￿n￿les&•4encvI*mbOr H1470 Éxecutfvecornmlttet Mr R FOr$t￿{ResIgned on 01102121)231 Msjohn Spoerry iAppolnted on OV04120231 Mrp Fowbtaln Mr D Cookndl IAe5¥nad 10220231 Mrsj Pogler Mrj Sahota MrsA Pagtt Mr RGulati MS S Awu5tin• Chairm TTe35ur 5e¢retdv RqBlrter•d Ollk• 56 School Lane Ch•Woni St Petèr riiir.k% SL9 988 Bank• Nath)nil WMtrnln%t•rNxnk Plr. l. Penn Road Be•t¢)n$fidd 8uckln8harnshlrn NP9 ?Pll C•n5dales Audlt LLP C￿rtered Accountants & 8u51rt•ss Ad¥kn St Marfs Court The Brwdwav Old Amersham HP7WT THEABBÉYFIEiD CHALFONTS SOCIEfY UMITED (Arompanylith byguaranteeand notfva¥lry ash¥e rapttofj VIANCIAL ￿ATEmEN[S FOKThE YEAR ENDED31 MARCH XQ3 CONTENTS Report ofthe Execthcommjn I[￿ependent Audttors. Rewttothe siaternent of c0mprnhw￿[¥e Incorne IlncorporatSne ao lfitome £¥4￿dI1￿￿ Acttxjntl io B4anceSheet hiM•¢ trtth(* FlnAnrlAI traI￿￿n*% 1? The pay not forrn part0fthe$t￿ry1InancIO1 statemwts. Dttlled LKome and Expertdltur•Ac¢ount 19 {A￿MpanY lknlted by8u8ranteeand not ha¥lr¢a 51wecapit FOR THEYEAR ENDEO 31 MARCH 2023 The Executlve Committee present thek rep￿t andthefin•KW st*ements of thesocletyfry the yearended .41 Mlrrh ?(TrT4. The wknclpal act￿ of the5￿1&Y Conlknuedto bÈthttof prth4dlry acCrJnmod4tl￿ forebderly and perhaps nety Deople In accLvdarKe with the aims ryIn¢￿4￿* of TheAbbvffidd S(KiEtyUmfted Therèsultsforthe vware Set out In the Income and ElpenrfrtUrekn￿ The5odety wa5 Incorporated underthe conv￿0E5￿I 0$ •cornpany fKnited byguaraniee. The Soclety 15 3150 a reei5tered charityand is rt8iStered underthÈ Houstr4Aa. Itls a150 TeEsttred vAth the fte8Lrfètorof Soclal Hous1￿ Providets. The Ex￿u￿￿eCarnm1tteewe dlrlcttys 0ftheS￿ uThdv Comwy 18w ￿dTrUst¢¢S under Charity ￿w. Those whoserved durfnKthe veirare a5 Stated the InfornBtion oaR& The Sodetv has Tro share cawtal. However. the EXeC￿l¥ecomMtttétt Mlmbers •re ￿1 Members ofthecompany. Ujdef Arrlcles of A550Ciatlorbthe ser4ryn# Exttutfve Committee mayappoknt add1￿15 Crynrnlttee mernbe￿ at anytSm¢. Our Property In the oplnlon of the Committeeih• m•rkntnlu• of freehojd land •KI bulldtn6s Is In exc•u of Elm. A•¥l•wolth•Year As ot 1st Aprll 2022, core rent w&$ rdtSEd by3.1%, Who￿ stryke ￿￿￿ernertdl1r8•$Wert Increased by l%followln8 the8uhJÈlui*s laid dowfi bythe Mln15tryof FlertJyn& Coftynunftles and Local Govemrneni. Over tht ytar, the ro¢)m occupantywas approxlmatdy95%. For ftx)tt of iheyearthe Itouse was full,. on 1st Awl 2023, therè werè2 ¥0￿5. Speck4 Èffort5 ar• bekng made tofll the unoccupled roorn& There wa5 pre55ure from C05t Inflatlon on operitln8costs* Partkularly enErgy.TheTTh5tees xted to restraln these kncrease5 whlbt malnt￿nI￿ the ou4ltv0fst￿¢¢. Th• pro8f•mm•to up8r•Jeth• •nsultt bathrooms h•$ proy¥sed and Is ￿hed￿ed to be complEtEd In 2023124. An extraordinary loss of Q5,107 was IrKurr*d as • resuh of the I￿OI￿er￿ ol the de518n con5ultanLy whkh was en84ed to enhan¢e the qu•lity ofthe cornnwn* areas Oft￿ House. The cornpletton ofthe projE¢t ts betni wedfted bytheTrustee5 at a hxercosL Va￿elormOnev The Reguktorforsochl Hou51n8 has requir￿ nmtrts whlch me•sureecot¥)ry. efficiency and effectfvenessto be completed; theseven metrits to *)able metsurementoTh a CO￿￿•r•ble b8515. These rnetrfcs have to be rep¢yted wtth the annual audited Financh¥ Statements. TheSocietVs hwse ￿ a fwmer resthn¢e datlr¢ batkto 1910whtth ha5 sparefor 11 resid￿t< rcthns. Cwrenttyihe Trustees do not pL8n to expand the nun*er ol rooffs.The Sodety doe5 not have any borrovmy. The rtiwri Dn Lxpitol wmi remoln swi*. The metrlc5 forthecurrert and preMou5)w are5hown beknw. Fdh)wSng the Execufve Comrnltteds dedsion to introduce a fflore yjstsinable staffir￿ lffitl. to imorn¥ethe s¥stem for ernereerKvcalls bvtht fesidtnts whett the housÈmana8ets not onihe premlses and tomn¥jfyf￿with health and safety lew11￿n de¥ebpments. It Is anticipated thatthe Marg1￿￿MI retum w capital ￿11 worsen inthe next yew. IAcory*w Ilffllted bV8Uarar￿e￿l not ha¥kYash￿r4p1l41) FOR ThEYEAR ENDED 31 MARCH 2023 The Socletydoes not hwtargrtsforthese rnetrKs. l. R￿Tr￿tment 2023-13%12022-6%1. l New supply ddl¥ered: 2023-0% IXJ22-iVAk 3. Geariny. 2023- 128XI2023-1143%11. EBITDA MRI Interest cow.- 2023- 0x12022.. 0%). Soclal houslng c05t per unit: 2023-£297,10112022- £240.1771. 6. operat[￿ marginllDeficitl IscriaS hou51nBL￿1vl.. 2023-111%) (2022:18%11. Operating mar8inlllDefiotl Itrtdl.. 2023-19%112022..16%11 7. The rÈtum on tapital employed.. 2023-16%112022..13%11. Pubuc BeMIIt The Executive Committee have consIde￿I the Charfrycornrnissbn's general KuIda￿e0n publlc benefit th* Executive Committe• hav& In thelr¥iew. the public benefrt ￿￿1￿ement bv makinRtht k*letv avèllable to any memberofthe pubfi¢ Ih x¢0￿1nce ¥hrh Its Ob￿Cts of pmidin8 aC£ornmodat￿ fcrf k*nety eldedv peopl& The Society as a MemberSocletyOfTheAbw￿d kniety Ltd wms to enhante thé quallty of tEte for older people. ft Is bdieved thatthts Is beneflclal to the seaion of the publlc comprising ekl•rly people who do not own thelr ac￿rn￿datIon and in somècases cannot afford to rent HI commerclal rates but who are seekln8 comlortable K¢ommodatlon whith thrycan afford •Dd whwethey rnaytake adv•ntaKe of livir* In a small communltythat p￿￿deS COmpanb￿hlp. Thesoclety h•5 Dlrqrtor5' and Olflc•fS' U•bllltylnsur4no for•ll the C(ffimlltee l¥lèmbers In relatlon tt>the SOCI￿($ affalr5. New Member5 are app(xnted bythe eyistln8 Execut￿CoMn￿Ee. The5electp)n ofthe appointtt5 15 based on pertlnent quallficaltons andlor rekvant exper1eft￿. Tecdve a role outkne In addhion toa persomllsed Inductlon Frorn other C(Knmittee Members reievènt to thelr dytles. The Executlve Committee lolntly makes declslons affectln8the Society and those dedsions èr• recorded In meeting mlnutes. Training is Pro￿ded prlncSpally through ottendance stCOLwseSsta8￿ byTheAbbeyf¢eld 5oclety Ltd tbot •r• almed ot keepinB members abreastof C1w￿eS in le£i51¥tton Ordeveityim￿ts In PT8ake. The fxe¢utl¥e Comrnittee ha5 Put In plxea more roburtsweMfr*￿w£eTrcY(aI￿ by reslderts whtn the house rnana8ers ￿ noton the prern15e% in a reCent￿COmPle1ed strttey￿t￿.Th¢ ￿beyf￿￿ Sooety Ltd ha5 er￿Qu￿edSMJ1￿r member SoclEtles to wnsolKlate thelr operations wheres*r Fwible. klinton thls 8uldanc4 the ExEcuti¥e Commlttee contlnues to explDre the prtentlal fortollabor*tngwith other kncai Meng)erSocietie& I*￿rtunItIeS foroveMmw18 drfficultie5 in findlng competent tradespecple containin8 oists are likElyto be athknd. Exocutl¥e Comfflhtee ha5 1rNes￿d In Irnprobryn8the tnterknr d￿or of the House In refreshingihe décor to make the House more loDe￿ir¥{f0feXtslIn￿aThj mDe¢kn*restdents. IArompanyllm5ted byl￿313￿ee and not ha¥lryaSlm￿ cap R￿l￿ToFTNE EXEcullvE Icoifflirt FOR THEYEAft ENDED 31 MARCH 2023 The member5 (who ￿ also diredors of The Abwield Chaifonts 5x￿bInited forthe w4fp05E5 of Eompwy lawl irn resp¢)nsiblefor prepaTillE the E¥ec￿Ne Cornrnittees. Annual Report and thelthèrtr41 starernents In accordance wlth èoolitable law United k£ountinR&•Nlards Iunlted ￿n￿d0M Generally Attepted Attounting Pratticel. CompaDy Lw reoulres the monbersto prepare fin*dalstataments foreath final￿al year. whith give 4 true andfa*¥lew of the stateof alfars of the th￿t￿e company and of the I￿rImIng resourcesand applicat1c￿ of resources, Includingthe income and exp￿}dit￿re, althe thwtsblecwpabyforthat period. In pr￿n￿theSe fimnclal 5tstements. ￿e￿￿er5 are requiredto: sthttsultablé Kctyjntiw pofKl•s and thth) apptythem ¢onslst¥rtrr. observethe methods and prfndWe5 In the Ch¥ftfesSOAP 2015 IFIIS 102k. lud8tment5and &tinat•sth•t w• r••soMbk prudtni srate whether •pptlcable VK Accountlng Standwds havèbeén fdlowed. wbjttt to anyrnwterl?I departure5 dlsc105ed and e%pl*ne¢J inthef1na￿l￿ st•ternents; prop?rethe Ilnanclal statementson the conc•rn b¥bs unless it Is Inwmprlate to presume th•tihe ¢hwltablecompanywlll (r￿￿nue In operatithi. Thè memb•rs am respMslbl•for keepln8 Ideouate 8¢countiry ￿cor￿ d￿￿oSe vAth reaSOnab￿aCCurnry at orty tlml t￿ flnanclal posltlon of the thIr￿a￿e ¢¢xrtpwy and enable themto en5wethat thefinanclal 5tattrneAts complywith th•CottwwlesAct 2006.They •￿ 4so respon51ble for safE8uardlngihe Jssets of tht ch¥it4ble corry)afiy and hencefortthg reason•bl• stepsforthe preventlon detEct￿rt of frol￿1 ond other 1rrn8u1￿t Insa f•ras th• rnemb•rs are aware: thtfe i8 no rde¥￿ knform•kn of¥thkh the(harit•ble comparrfs a￿15 and the Members hav• taken all steps theywto have taken to m*ethernsel¥es awartof any relevant aL￿1t Informati￿ and to establlsh that the audSior15 aWOTeof th# inform*lon. eserves Pollev It is the policy clthe Socletytomalntaln Unr•Str￿ed f￿d$ not de518nJted or invested In ta)8lble flxed assets 1.the free reseryesl at a level whxh equatist0appro￿mèEelYthree months unrestrirted expeftdhU￿ for management and adrpiniwal￿fi cost% The kvel wa5 maint￿ned thNw8hwt theyw under revlew. The Executive COM￿￿et con51du5 the Eurrent levd (* reserve f￿d5 *dthetr Enuease a mmerof lryortwKefor suth ?n old housè and to ¢tyrtooMible I￿.1￿n o¢cuDJncv*)￿ Rtsk Maftaqem•fit The Executive Commthee havecondutted • re¥lew rfthe mai(Yrisks to thefth oftht Scrtkty •nd ofthe controls and procedures In pla¢e to rNii8ate thenkThese procedure5 wbll be periodkally re￿eWed to ensure thatthey medthe need5 of thesocw. The prlncipal rfsks identif￿d are- Jeopardytothereptrtation ofthe SOC￿tythI￿lh falureto molntslnthe servic& atthÈde5tred le lapses in comptyi08With Heofth Safety requlrements eqlect of the premlse5 (Atompany rknited byyarartee b￿t hayiya sharE FOR ThE YEAR ENDED 31 MARCH 2023 hlureto prr*ettthe House against Infettton from a pandeff*cor epldem Deterioration inthe le%*1 of care provided due fallts￿ to recruli and retafjn surtable stsff e8l¢¢t to trainth8 FIfia￿￿ Inst￿lI￿Y due to low room occupanlv In•ffprtiw rfrttrnnifr4 Ouring the Covld Pandemi￿ eXt￿me measure5 were kntroduced to malnt•ln the lockdown. Appropriate safe8uarding K16on ha5 been cortkn¥ed. Audltors ThÈAuditors. CansdalesAudtt iLP. haveeyuxd thelrwlllnBnessto conthueln offi¢¢ ahd a resduiion to re- appolnt them as wthtors wlll be to the ￿e￿￿e¥S *th￿Ann￿ fjeneral Metti Th15 report hJs been prepared In atcorthcewlth the spedd prv415kns fttsmdl cs)mpanles Jnd p¥iyaph 15 of the Companie5 Act 2Th)6. BY ORDER OFTHE ￿EaM¥￿ COMI4 John Spoorry Chlrn Reikn•r•d Otlke: 46 4th¢￿1 l anp Cha￿0￿tSt Peter Buck5 SL9 9BB (Acornpwnn￿led by8uardntre oThl not h3¥h¥a IMrffipFNnFWT4iiniTORV RFI¥(IRTTnTHF FOR THEYEAR EtIDED 31141ARCH 21)23 OplThlon We have audited the finarrial staternents ofThe Ab￿￿d Chafont kniety Ltd Ithe'tharitable companfl for theyearended 31 March 2023 thich comprise Staternent ofCryrehensibE Income, Bal•Ke Sheet and notes to the fin￿(la1 stater￿nts. Incluth8a surnmaryof ￿gnificant ￿MUnti[￿ pD￿Cle$.The financial reportlng framewort&that has been applied In thdr preparatlon ts applKable law and United fm8domAccounti Standard5. Indudlrw Financia Reportlrl st￿dard 102 Tr* firrtmclolRewrting5tondord t￿￿koble In the UK ond Repul￿ of Irelondlunlted Kingdom Generallywed A(countlng Prdcticel. In our oplnlDn theflnancial staternenLV. Ive atrue and falr¥iew of the staterfts thar1labkc￿p￿￿s a5 at31 M•rth 2023, and of its {r￿mIng re%yJrces applkatlon ofTV￿rCe$. kndudth8 Ir5 in(Ome￿d ryEnditure,fortheyearthen have been propedy prepwed kn Kcorylan￿ wlth Unted KIn8drynGenEraltyp￿ep¢ed Accountlry Practito: and hwebeen Prepar￿ In ac(￿daT￿ewith the requirements ofthe CthnpanlesP¢(2fM)6. the trknl51nK￿d Regeneration Att 2008 •ndtheA(countlry fArecllon forprNatt riebtered wo¥klers of 50cl•l hou51ng In E￿and 2019. Baslsfof oplnlo We condurted ￿raudIE In Kcord•nce wtth Intematlonal Starths on Audltlri8 IUKI INS (UK)) ipplluble law. Our re$ponslbifitles underthose standards are furtherdèsuibed Inthe Audllorfs resp)n5ibllities forthe lyd￿01th*fin1ntlal statements seaton of our report. We are Independent of the tharftable cornpany In a¢¢ordanc• %wth the ethlt& requlrements that are relevantto ouravdlt rf the flnondjl staternents In the UK, Includlnith FRes Ethlt41 Standard. and we ha¥efvlNled ourother ethltal respon5ibilitles In accordance wlth these requlrèm*rrt& We belTthtth8t the audit evklence we h•4è obtslnedls 5uffidwrtwd approprtat• to provlde a basls forour oplnbjn. onckwtons rtlatln8to80kni concorn We have nothin8 to rtportln respea lollry*Ow Ir￿￿5 rd*lon to whtth the LSAS (UK) f•qukt us to reoorttow>u where: the execulive cornmittees use of cO￿¢M baslsofaccount¥¥ln the prep•ratlon ofthe ￿n￿¢1￿1 state￿nts 15 not approrri•te: or the ewutlve comrnittee hav• n¢xdtsclosed InthetIn￿￿aI stawnern wyldent11￿d mèteri81 uncertainties th•t mayca5t wfficartt doubt Ot*)¥t the CDmpanrfsabllStytocontlnueto odopt the 8oing concern basts ofxctyjntuyfor • pwityj dat least tWe￿e n*)nths from the date when the no￿1￿1 5fatements are autl*Jrised for Otherknforniotton The executive cornmitte• are respon4b￿fvrth¢ otherlnfomMtk)rL Ihe other Infomwtk)n cOm￿￿the inforrn3tlon irKluded in the exetthcommlttee5' annual report. Otherthanther￿a￿¢ial ￿aterneThts and our auuttorfs reportthere￿. OLWOPtnlon on theflnandal 5t*ements dots not cth*rthe other infomiatlon and, e¥cepttothe extent otherwtse expllMiy st*ed In our rep￿ we do exwess ayforrn ofassurance ¢on¢lu51on thereon. In connection with our wdltofthetlnarKkl SLatem￿ts. oUrrtsp￿ib1l￿tstO readtheotherlntomaDon ano. In do¥nE so, Co￿[der whethertheotheT srrffxmakn 15 materially iJx(¥wstwbt with the finandal stat￿ents Dr our knowledge obtalned In the authtorotherwise appeavsto be materlallyrnlsstated. If we identfysuch material incoThsisteDcie5 or apparent material m$statemen￿ we are TeqUi￿d to detem)Ine whetherthere 15 rrtaterial mbstatement inthe finaKi¥ StateMet￿ wa mat¢rfal theother information. ff. (Ac0fflpanylln￿ed byBuaranteea))d notb3blrya51Mreeap#a) INDEPENDEIIT AUDITOW REpoKfTOTHE MEMBER51CONnNUEDI FORniÉYEAR EfrJDED 31 MARCH lots d on theworkwe have perf0Th￿d. corKludethatthere15 a m*erlal rn￿5￿tefflETrt of this other 1nfOnn*knn,￿ a￿ requi￿t0 repMthat fxL We have noihlngto reporr ththbs rrfard OpTnlDn50n otherrnatters pre5crfbed tytheCornpanle5 PAt21)16 In ouroplnion. based on the work undertaken in the cwrse of theaudfft.. the information ENen in the reptrt of the executrrt commlttee for the fthancl* year for %¥thlch the rinartial staternents are prep3red rs(onsi5t¢nt with thefin•n¢W statements: and thè report Lrf •xtrutN* tcffirnltiet h•s b•th pwed th Kcwt1￿ce wfth applicabJ• k8al requirements. Matters onwhlth w•ar• rnqulmdto r•port byex•pth In tht li8ht of OUT knowled8e ar￿ ur*Jetstandln8 of the thath*e ¢owyany 11$ envlronment Ob￿ed In thè coursè of the audit, ftot Iderfified m•terf41 n*si*ements In the report of e¥ecytlve We have nothin8to rtpjrt Mi r•Sp•rtcltheldhw￿ryl mallern In T¢lttlon towhlch the Comynles Act 2CI16 r•qulre5 US to report to￿￿ if. In ￿jr1)pin•jn. adequ*e 8¢ccwntin8 records ha¥e not been kepL or r8￿m$ adequate for our audlt not been receNed from branch￿ not VIs￿ed ty us: or thèflnanclal $￿ementS are not In a8reernent with the K£ountintreths and retum5: or cértakn dlsclo$ures of merrtJws' remuneratk)n spedfied by l•w are rKJi made. or we have not recelved all the Infom*tkni •nd •xplanaikJns we requlre for ouraudir or the executive commlttee were not entttkd to Pfepve the financkl statements In accord4rKe wlth thè small companle< Te8lme and ￿k¢ thtr4¢ of the STnall cOrr￿leS. exempth￿s In preparlni the report of the executNe cfjmmitte•aTrlfrom the req￿￿Tr￿￿t0 prepare •str)te8lc reyL Responslblfftl•sQtth• ¢￿[￿11¥*￿￿mftr•1 As eiplalned rnorefullyln the statem•nt of executK* commltlee re5PDns¢blities. the membets (who are also the directors gf the Charita￿e¢0[￿￿Y f+ythe purposes of mrrfj>Jnylawl ¥e respOnS￿le fortht pr¶tion of the Ilnonclal statements and for belfig satlsfied thai they atrue and fw ￿ew. and forsuth lrttrnal conirol asthe eXecUt￿e cornmittee detern￿ne Is necessaryto enabiethe preparathjn clfinart1￿ statements that arefree frorn material rnisswrne￿ wh*hErdue tofrwd ureNor. In prep¥tn8 the flnarKlal s￿eMentA the executivetomrnlitee are reSpo￿lefOr a55èssin8 thed)arltab companrfs ablllty to continue a5 a concem. d15(h)sl￿ a5 applicabk. mattws related to Èoln8 concem and usbn8the 8olngc¢)rKern basisof x¢ountlng ￿lesS the executfve committee either intends to ￿qUId￿e the charltable cornpanyortocea5e opernt1(￿S, or has no rtaftsuc to th so. Audllorf5 reSpon￿b￿llIeS1Qrthe*N￿t0Ithelh￿fvcIll ststrments Our oblectlve5 are to obtain reasonable atyJrdnCt about whetherthefmanad $￿t￿ents as a whole arefree from rnaterial rni55tatLYnenL whethw dueto fraud or *Jtw. to ￿sue an •Jdito¢s reportthat tndude5 our OFlnlon. Reasonable assurance b a hiEh lével of wurance but15 Tr)ta Éuarnnteethat an audltconducted I cordance with ISAS IVK)will always detect a Mate￿ m&Hatemerrt when it exi51S. Missiatements can arlse from fraud OT error and are consldered fflèteriél rf. irthKiyoI￿Or In the alE￿ale. thÈycould Tea50nablybe exDetted to Influencethe er(wmlc de(i5tMs of userstaken on the ba￿$￿thestr1fi•nc1a1 staremenrs. ThEABBEYFIELD CHALFopifs SOCIETY IkMtrED (Acompanyllmlted byguaTrnteeand not ha¥hy 0 9hove•D FOR THEYEAR ENDED31 MARCH 2023 As partof art aud￿ in a¢c¢Ydartewith1&4s IUKJ.we Èyerose wofessioml luknent and malntaTn profe5sk)nat sceptKism thrOUBh(￿rtthe audi We th: tlfv•d a55e5S the ri5k5 of materfal m155tatemertof thefinaKlèl statements. w*￿th8rdueto fraud or error, de￿En and perform ￿dit procedures responsNe to those rts￿ and obtain wdlt e￿den1 MAROI 2023 ID22 269.375 224.336 Operatui cosis OperatlD85U￿￿s P97J021 127.7271 1240.1771 I￿,841) Irt￿st roc•i¥able 1619 L733 Defidl fortheyeat (25,1071 114,1081 Tran5ferltol de51inated rEseryes A￿t￿le Dellcltf•rth•ywr 125.1071 (J4,1081 I the Socletvs actl¥ltle5 4re da55ed as continvln8. Th• movements on feser¥es are shown In note 8 tothe fin•rKlal ststemeAt> Therewere no reco8n15ediJlns orlosses<*herthth) the result fr*th•pw. I funds are wirestrlttqd. .. J Spotrry It￿11rM￿l . JSahotalS¢crttwvl .- P Fount4in trr•aswÈrl The ￿te$ nurnbered I to 14fom p¥t ofthe5efinaKial staten￿ts ln (A¢ompanyfimited ty6uardntee not havllyashare¢a￿•￿ N4IANf.F%HFFT AS AT31 M*JICH 2023 20ZZ Tanelblq FIM•d A5Mts 190394 Cuffen¢ A￿ts Oebtor5 4N9 267,246 271.295 Cash * b￿k￿d in hand 243.260 246.341 Creditor5'. Arnounts ta￿1￿6 duewi(hln one year 127297 23.6301 N•t QwMItAs5•ts Tot41Auets less 9,045 247.665 409A38 434.546 C4th1 & Reserves Contrlbutlons made by mombefs li 339A27 364535 D•s*n•t•d reseryè 70,000 409A38 70.000 434546 These fknandal statements have betn prepared In xcofdan¢et*lth the speclal provlsfth)sfttsmall c1xn￿les and Part 15 of the Companles Act 2006. These fin•nclal ststements were apDTo¥ed bvthe Execu￿ Conwnittee and authoT15ed for15sue ore ￿8ned ￿ thelr beh￿f ty. .•Trd JSpoerylth•trmanl P Fourtth (Trewerl Cornpany Number." 995212 ThE nDte5 numbered I to 14forrn wt of these finan¢i¥ siaren THE ABBEYFIELD CHALFONTSSOCIETY LIMrrED IA comp3nyUrnlted by8uarantee and not h￿ne a share apftal) NOYESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 L ACCOUNTING POLICIES IS OF ACCOUNTING The Soclety co￿tituteS 3 publlc benefit entity as d£4lned by FRS 101 The financial Statements have been prepared In aC£Ordan￿ with appficable attountitKg standards InclLidin8 Flnancial Reportlng Standard 102 TheFInonciolReport￿9 StondardApplicobk the UK ttndRepubllcof Irelond (FRS 102), the Statement of Recommended Prdct1￿ for Soclal Housin8 Provlder5 2018. and with the Accoumlng Dlrection forprivate re8iSttred provldws of sodal houslng England 2019 ISORP 2018 and A¢¢ountlng Dlrec¢ion 2019 both ire in rdation to accountire periods ¢ommendre from l January 20191. The flnancial statements are also prepared under the requirements of the Hous1￿ and Regeneratlon Act 2008 and the Companles N£t 2￿6. The financlal statemertts have been prepared on a golng con¢em basb under the hlstorical cost onvention. modlfted to Include certaln Items at falr value. The financtal statements are prepared in s¢erlh% whith Is Ihe fun¢tlonal currency of the Soclety, and rounded to the nearest £1. ALHOUSING GRANTS ISHGI Where developrnents have been flnanced wholly or partly by social hou51n8 and other 8rants the amount of the 8rant received ha5 been Included as deferred Income and reco8nised In Turnover over the estlmated useful Ilfe of the associated asset structure Inot landl, under the accrua15 model. SHG recelved for Items of C05t written off In the Staternent of Comprehensive Income A¢count1s Induded a5 part of Turnover. RECYCLING OF CAPiTALfjRANT Where Soclal Housln8 Grant Is recyded. as descrlbed above. the SHG ts credlted to a fund whl¢h 8ppe4rs •$ credltor until used to fund the acqulsltl¢)n of new propertles, where retyded 8rant Is known to be repayable it Is shown as a credltor wthin one year. Recycl1r￿ co￿tal grant can be abated where sale proceeds are le5S than the 0rf8lnal cosL TURNOVER Turnover represents rental and servlce charge In¢gmere¢elvabli donatlons and rtr4enue grants. All Income Is reco8ntsed on a receivable basi%. TANGIBLE FtXED ASSETS Tangible flxed assets are stated at cost depredatk*n. Such cost Indude5 the cost of acquirin8 land and buildin8s. development expendilure. Interest chaT8ed on mortgage kjans ra￿ed to finance thescheme up to the date of completion and amounts equal to acqu151tion and dv4elo￿ent allowan¢es re￿1vabl£ DEPRECIATJON Depreclatlon Is provtde(l on all tO￿lbIe r￿ed assets at rates cal￿101ed to wrlte off thè cosL less estimated re55dual value. of each asset over Its expecied useful life as d15d05ed below.. Major build1rna￿tuTes Freehold Bulldlngs Equlpment Flxtures and Attings 5% perannurn on cost 2% per annum on c05t 20% per annum on cost 20% per annum on cost Freehold land Is not depreoat Items of fjxtures and are only tapitaltsed wharethe indmdual purchase prke exceeds £500. 12 THE ABBEYFIELD CHALFONTS socIEri UMITED IA company Ilmlied byguorantee and not a Share raplts NOTES TOTHE FINANCIAL5fATEmE￿fS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 AccouMnNG POLICIES IContlnt￿d) PENSION The Soclety operates a defined contribution penslon scheme for employe&s. The assets of the scheme are held separately frorn those of the Sodety. Any annual contributlon5 payable are charged to the Statement ofComprehen51ve Income. EXPENDfWRE Expenses are acc￿nted for on an atttuols basis. inclusive of Irrecoverable VAT. FUNDS ACCOUNTJNG Funds held bytheSocÉety are: Unre5trlcted general funds-these are fund5whkh can be used In accordance wlth the Sodetys objects at the dlsttetlon of the Executlve Cornmlttee. Desl8nated Funds-thesè arefunds set aside by the Exe¢JJt￿ Committee out of unrestricted eeneral funds for 5pecltk future purpose5 or prolerts. The nature and purpose of eath fvnd ts expLilned fvrther In note& MAIOR REPAIRS Major repairs expenthture of a upltal nature Is tapltailsed. Non taF4tal èxpèndlture Is refiected In the Incorne and expendlture account togetherwith any rdated grant fvDdl￿. WORKSTO ExisfiNG HOUSING PROPERnES Anyworks which do not result In an enhancement ofeconomlc benefits of a are charged tothe ststement of Comprehenslve Income. Thls Indudès expendlture incurred to ensure that the property can malntain its extstln8 level of net rental Income or the standard of perforrnan￿ antidpated when the asset was tlrst acqulred orcortstructed or L4St replace¢L 2. OPERATING SURPWS 20ZS 2022 Thls Is stated after thargi AudStors' remuneratiorh 4,770 2338 23,414 4,270 2,290 18,041 AuElltors' remuneraUon for other se￿ceS Lmireclatlon 13 THEABBEYFIELD CHALFONTS SOaEfY LIMITED IA ¢ompany Ilmlted byguarantee and not havlnB a s1¥3re capltal) NOTES TOTHE FINANaAL5fATEMEMrs ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 EMPLOYEES 2023 2022 Salaries and wages Pension costs Soclal Secuflty tosts 131,660 127,798 3,535 3.687 3,889 4,307 139.083 135,792 The avera8e number of persons èmployed by So¢*ty durfng theyear expressed as fvll-tzme equlvalents was: The average monthly number of employees. *Jdudlr part tlrne employee5 There was no12022- none) ernployee whose annual employee beneffts Ilndudlr* employer per￿lon costs) were over £60.00 The key manoBement PerS￿ne1 of the tharity cornprlse tlve members of staff12022.. fourl. The total employee benefits Ilndudlng ern￿0Ver penslon Contrlbutjor￿1 fe¢el¥ed by key nwna8Ement personnel for their gervt¢e$ to thè charlty was £91.57012022: £87,159). FIXED ASSETS Ma Bulldlngs Hxlures Freehold Property Flxlures & Fltllnp Equlpment TOTAL At i &pfll 2022 IS8,931 116A95 7?70 2CQA73 484,670 AddltSons Dlsposats 25.076 27,522 At 31 March 20Z3 IS8,931 141.972 10,416 200 873 512,192 DEPRECIATION At l Aprll 2022 55W5 4yS 146.342 297,788 Charge forthe year Dlsposals 2352 3A41 24,011 At 31 March 2023 58.197 106 7.028 150.182 321,798 NET BOOKVALUE At 31 March 2023 IDJ,T34 35￿1 3.388 50.691 ,394 At 31 Mar¢h 2022 103J)86 54,531 186,881 14 THE ABBEYFIELDCHALFONTS SOCIEPI LIMITED IA company limlted byguarantee and not havin8 a share caphl) NOTESTO THE RNANaALsfAIEMEplls ICONnNUED) FOR THE YEAR ENDEO 31 MARCH 2023 S. DEBTORS 2023 2022 Prepayments 3,600 3.600 4,049 4XJ49 & CREDtrou. Amounts falllngdue wlthkn v 2023 2022 5oclal Houslng Grant Acuuals Other credltors Trade Oebtors 13,712 14,308 7,684 L638 8,290 518 27,815 23.630 Thè average number of da￿ betwe￿ receipt and payment of purchase InvoEceswas 712021: 7 day51. The Sodol Housing Grant is b￿n8 rdeased to the statement of comprehensfve Incorne over Its useful Ilfe. The amount released In theyear was £59612022: £5961. 7. CONTRIBUTIONS MADE 8Y MEM8ERS The s￿Iety Is a cornpany Ilmlted byguarantee and not havlng a share cap5ts1. The Ilablllty of each member L5 lirnlted to £1. At 31 March 2023, Ihefe were 7 members12022: 61. RECONCILATION OF CApifAL AND RESERVES Contrthutklns from M•mbors Rw•nu• Repalrs Re5eTh• Totsl At l Aprll 2022 li 364,53S 70.000 434,546 Defldt forthèyear 25.1071 339,427 25,107 409.438 At 31 Marth 2023 li 70,000 The Malor Repalrs ReseThe Is intended to provlde a reserve for rna￿r repairs expendlture. 9. CAPITAL COMm￿ME1￿[S There were no capltal commltments at 31 March 202312022: £nlll. 10. CONTINGENT UABILMES There were no contingent l1ablli￿eS at31 March 202312022: £nll). 11. PAYMENTSTO COMMirrEE MEMBER5ANDTRANSAcfioNSWttH coNNE￿ED PARTIES No amounts have been pahj as fees, remuneratiort orexpenses, nor any glfts or benefits provlded to members ofthe Executive Committee or officets ofihesoelety whowere not eM￿0ved. wlth the excepflon of out of wcket exFbense5 amountSr6 to £Nil12022= £Nill. 15 THE ABBEYFIELD CHALFoiifs SCKIEfY UMIYED IA company limited bvguarantee and not havlng a share (apltal) NOTESTO THE ANANCIAL STATEMENTS{coimiiuEDI FOR THEYEAR ENDED31 MARCH 2023 11 HOUSING STOCK Unlts In Manwment 2023 2022 Number of units Number ofbe&spa￿% li li TURNOVER AND OPEKAYING DEFI￿FoR THE YEAR 2022 Op1ath￿ Operdtlnt Turn¢y4er Operat5nR Operatln£ Delklt Costs Dellclt Income and •xp•ndltwe from lettln Hotsslng Accommodatlon 259274 1297,1011 137,8271 210,428 1240,177) 129,7491 Other Income Donatlons io.ioi .101 264 JPS Grant Aecelved 13,644 13,644 297.101 224 336 240 177 15.841 Turnoverfrom Hou51ryAccommOda￿ 2023 2022 Residents char8e5 recefvable 274.944 264,111 Losses from voldslvacandes 115 6701 153,683 259.274 210,428 Donatlons 2023 2022 Donations io,wi 264 io.ioi 264 Interest Income 2023 2022 Bank Interest 1619 1,733 2.619 1,733 16 THE ABBEYFIELD CHALFoKrs soaEfY UMtrED IA company Ilmlted byguarante¢ and not h￿1￿ a Share ca￿1•1) NOTESTO THE RNANCIAL STATEMENTS (CONnNUED) FOR THE YEAR ENDED31 MARCH 2023 IQ OPERATING C05rs OF LETnNGS 202J 2022 Servl¢es Management Aoutlne malntenance Major Repalrs 251.831 19.333 25,937 2C￿,861 21,177 18,139 297.101 240,177 15. Ultlmate Controlllnl Partv The charity was underthe ¢Mtrol of the Btsard of Trustee5 throughout the year. 17 IAconyany Ilmlted byKuarantee¥MI not havMiÉa slmre t•￿ts NOTESTOTHE FThANaALSTATEMEHTS IcoimNUED) FOR ThEYEAR ENDED 31 MARCH 2023 1022 251J31 19.333 2S,937 200.861 21.ITF .139 Manag￿ent Routlne rnalntenance Major Repalrs i,ioi 240.177 The tharftyw45 underthe control Df the Bo¥dofTntstee5 thrwhout tnevea.. THEABPEYRELD ICHALFONtSISOCIETY uraru) IA cornpwwlimtted by guarantEe4nd not ha¥thgasharÈupitslJ NOYESTOTHEANANa￿$rATEME1n5lcOlrnNUEDI FORIHEYEAR ENDED 31 MARCH 202Y Ihefolkn*lM ow does nLxforni 04rtolthest#utoryfth•nd•15tstemer 151 THEABBEYRELD lCHAlF￿ ￿ UMifED IA£ompany Ilmsked byguaraotee and not harya sh*eap*al) NI)TESTOTHEFINAfrXIALsfATEMENTS ICOPIIII•JEDI FOR THEYEARE14DEO 31 MARCH 2023 71) IIEABBEYFtELD ICHwc*ifsJ SOCIErY upAirED ,A"comDanyllmlted byBuarartee and not ha¥kn¥a slKretap￿aIj -. IiIFD INCOME& EXPE14DifuRE Atcouiir KJR ThEYEAR ENDED31 MARCH 20L 2022 ,.ff•meana expenaitsrelroml*tlnp Re51dentll chwKes Oth•T Incom• Donati¢)n JRF Grant Rerrived bank Interest Tece5vable 259.274 210A28 264 13.644 1.733 226,069 2ffj19 271.994 4rei M3nagemeni expense Audit and acc￿nt￿lIeS Affillatlon lee In$uran¢¢ Natwest Mentorstheme 4d¥erthth# rr Costs Commlttee Exoense Setretarlèl & Postaie B•hkCh•rtes 7,108 3547 4.160 1.728 6.56C. 77 1,728 156 4.431 1222 2? 753 21,177 799 'J333 D•m￿￿ten•T￿e 25.937 139 Ma￿1 Rep•lTs moloye• coys Llehi, heat •)d ￿ter '"ood costs Misreuaneo Courtll Tax Garden Ntalntenance Reshyents events Call Sysrem Telephone aeanln4Co5ts Staff Weware c05t Yralnlng He8lih &Safety Extraordlnarychwte DeDreclatlon 139,083 24.254 14.077 135.792 13.187 12,708 1562 3,270 3N17 6.6i2 2.¢)46 3.155 2340 3564 4.iu£ 2,048 3.217 2,201 2,752 1281 600 772 5.078 21.104 23.414 18.odl 200%62 14tal ewpendliure 297.101 240,177 DthEltfvrtheye¥ 25.107 114.1081