| Contents | Page | |
|---|---|---|
| Reference and adminislrati on |
details | |
| Report ofthe commiuee | 2-3 | |
| Reporting accountants' repon |
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| Statement ofcomprehensive | income | |
| Statement ofllnancisl posidon |
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| Statement ofchanges in reserves and equity |
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| Statement ofcash flows | ||
| Notes to the financia statemenls |
9-ls |
| I | |||||
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| ABBEYFIELDTIVERTON SOCIETY LIMITED | |||||
| REFERENCE AND ADMINISTRATION | DETAILS | ||||
| Charity number | 265782 | ||||
| Compaoy number | 01095865 | ||||
| Homes snd | Communities | ||||
| Ageocy Number | H0559 | ||||
| Address | DufBteld House | ||||
| 2 St Paula Square | |||||
| Tiverton | |||||
| Devon | |||||
| EX165HZ | |||||
| Committee | members | Mr David I Halestrap | —Chairman | ||
| Mr Brian Pocock - Treasurer | |||||
| Mrs Ann Waterman | |||||
| Mrs Pat Dalby | |||||
| Mrs Sian Tucker | |||||
| Mr Matt Shaw | |||||
| Mrs Sharon Bradshaw | |||||
| Mr Mike Shaw (appointed | 7th May 2020) | ||||
| Housekeeper | Mrs K Sheppard | ||||
| Accouatants | Aspen Waite South West | ||||
| Chartered Accountants |
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| 21 Bamplon Street | |||||
| Tivcrton EXI66AA | |||||
| Malo tmokers | Barclays Bank pic | ||||
| 24 Fore Street | |||||
| Devon EXI66LE |
| Tbc Society is aR gistered Social Housing Provider cormolled by the commince raembers detailed on page l. |
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|---|---|---|
| The members ofthe conunittee have pleasure in presenting their annual repon and Snencial statements for tha y«ar ended |
31March | |
| 2021. | ||
| OBJECTIVES AND ACITVITIKS | ||
| Summary ofthe objects ofthe charity set oat la its governlag document |
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| '1)m relief and support ofelderly persons ofall classes sutfering from the disabgities ofold age or othenvlse ia nccd. |
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| The sp reading ofChrisum principles to sU human relationships and the appl icadon of humanitarian alms to pmmoto the reliefofthe |
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| elderly. | ||
| To provide further education in tbe sphere ofvoluntary work, social work and similar activities so as to inculcate |
the principles of | |
| good citizenship. | ||
| Such otha purposes recognised by English Law as duuttsble as the society shall determine Som time to time. |
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| 'Ihe Society bas had duo regard to guidance published by the Charity Conunissioa oo public ben«lit end oerttfy compliance |
with the | |
| Ocvemance and Financial Viability Standard published by tho Horne and Coauaunities Agency. The Trustees believe this |
is achieved | |
| via the charity's objemives and amlvitics. |
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| Summary ofthe main actlvltlm in relation to these objectives |
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| The provisloa ofsheltered acconunodation for the cld«rly at its premises situated at numbers 2,3 and 4 St Paul's |
Square together ' |
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| wilh support and companionship. | ||
| Additloaal detags ofobjectives and activities |
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| The Society is nm by a comminee ofvoluntcem. | ||
| ACHIEVEMENTS AND FERFORMANCE |
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| Summary oftham«is achievements ofthe charity during the year |
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| dist«ported in the accounts for201920, the Covid 19pandemic has severely curtailed our amivities and resulted |
in some additional | |
| ~xpmue in tenne ofstatf hours. Only emential repairs and mainlenance have been carried out and tve have not committed |
to any | |
| major works. Our main focus however, has been the well.being ofour statf and residmts and we have conlinucd |
to protect | than as |
| much as possible. The residents' sponsors have bees regularly updated snd wc have rcstrieted aocess to the house where feasible, |
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| Whilst uo-one at DuiUeld House hes contract«d Covid 19,sadly three ofour residents have died during the year, |
and it has | not been |
| practical to SKtho vacant rooms. Nevcrthcless, we havo been able lo utilise one ofthese rooms, which has scparato access |
to thc | |
| garden, to enable residents to recoiva visitors io a Covid safe manner. We have also taken steps to improve our publicity so that we |
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| aro prcpawd to auram now residents once restrictions have been ligcd. |
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| inevitably, vacancies have meant areduction in rental income but wc make en annual allowance in our budget for such cirmunstances |
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| and have not needed to draw on resmves for2020-21. |
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| FINANCIAL REVIEW | ||
| Briefsam mary oftba charity' ~ policy oa raervcs | ||
| Abbeygetd Tiverton Society Ltd sets its rents to ensure that 10.1554ofits income is added to reserves each year. |
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| Our reserv«s are invested for funding futuro developments ofDuiSeld House. |
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| Financial result |
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| Ager providing for outgoings ofa revenue nature there is a net surplus for thc year of 57.918(2020 surplus 513,690). The balance |
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| ofrevenue reserves carried fmvmrd to future years amounts to 61,465176(2020gi 438514). The Society is able to meet |
aEofits | |
| obggstlollx | ||
| Property values |
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| The market value ofthe freehold properties, in the opinion ofthe committee, is in excess ofthe value shown in the balance |
sheet but | |
| tho cxpcnscs ofaprofessional valuation would not bc warranted. |
| We report on the accounts for tho year endml 31 | We report on the accounts for tho year endml 31 | March 2021 set out on pages 5 to | March 2021 set out on pages 5 to | March 2021 set out on pages 5 to | March 2021 set out on pages 5 to | 14. | ||||||
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| Respecffvw resp oosibgltla ofthe Committee | aad rcportlag accountants | |||||||||||
| Tho Committee ofthe Registered Social Housing | Provider is responsible |
for the preparation | ofthe accounts, | and they consider | that | |||||||
| the Registered Social Housing Provider Is exempt from an audit. |
It Is our | responsibility | to | cany | out procedures | desigacd to amble us | ||||||
| to rap on our opinion. | ||||||||||||
| Bash ofopialoa | ||||||||||||
| Our procedures consisled ofcomparing the accounts with the accounting |
records kept by the Registered Social Housing Provider and | |||||||||||
| rnakiag such enquiries ofthe officers ofthe Registered Social Housing Provider as |
wc considered | necessary | for | tbe purpese ofthis | ||||||||
| report. These procedures provide the only assurance expressed |
in our opinion. | |||||||||||
| Opinion | ||||||||||||
| In our opinion: | ||||||||||||
| -the accounts foryear ended 31 March 2021 arc in accordance with |
the accounung | records | kept by the | Regime red | ||||||||
| Social Housing Provider under paragraph |
135(2)(a)ofthe | Housing | snd Regenerauen | Am | 2008; | |||||||
| W .having regard only to, and on tho basis of | the infmmatlon | contained | in the accounting | records: | ||||||||
| , tho accounts comply with tho requirements | ofthe Charities | Aet 2011; | ||||||||||
| -the Registered Social Housing Pmvidcr has satisffed the conditions |
for exmnption | from an | audit ofthe | accounts for | ||||||||
| the year ended 31 March 2021 speeiff ed in | section 136(3)ofthe Housing and |
Regeneration | Act 2008; | |||||||||
| -the accounts comply with the requirements | ofthe Housing | and Regeneration | Act | 2008 and | the Accounting | |||||||
| Direction for private rcgistcred providem |
ofsocial housing | in England 2015. | ||||||||||
| Aspen Waits South IVest | ||||||||||||
| Chartered Accountants |
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| 21 Bampton Street | ||||||||||||
| Tlvertonl | ||||||||||||
| Devon | ||||||||||||
| EX166AA | ||||||||||||
| Dsm: (+KCyxt (aCfu |
| Turnover | 95054 | ~lt I 797 | ||
|---|---|---|---|---|
| Operating costs |
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| Pmpeny managmnent costs Management and admlnistrauve |
expenditure | 73,476 ~19145 |
90.152 ~19448 |
|
| 9 621 | 109,600 | |||
| Operating surplus |
2,433 | 2,197 | ||
| Income from fixed asset investments | 5,600 | |||
| Interest iec«lvabk and other income | ~5485 | 5893 | ||
| Surplas for the year ou ordlanry | activities | 73118 | 13,690 | |
| Taxatioo on surplus an ordinary activities |
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| Surplos for the year after tax | 7,918 | 13,690 | ||
| Revaluation ofinvestmcnm Total comprehensive lacome |
~tg 844 ~26 762 |
2 859 10,831 |
| Fixed assets | ||||||
|---|---|---|---|---|---|---|
| Freehold housing properties |
9a | 895,869 | 895,869 | |||
| Other fixed assets | 9a | 4,025 | 4,878 | |||
| Investments | 9b | 252,694 | 134,850 | |||
| 1,152488 | 1,035,597 | |||||
| Curreat amcts | ||||||
| Debtors | 10 | 3,013 | 3.138 | |||
| Cash at bank building | society and in hand | 314053 | ~404 706 | |||
| 317,066 | ||||||
| Creditors: Amounts within ooe year |
falling due | ll ~4 77 | 4 926 | |||
| Nct curreat amets | 312,689 | 402 18 |
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| Total assets lms current | 14bUIUm | 1,465277 | 1,438,515 | |||
| Creditom: Amounts | Iaglag due | |||||
| after mar'e thea one | year | 12 | ||||
| I 465276 | 1,438,514 | |||||
| Reservm | ||||||
| Investmeat revaluation |
18,844 | |||||
| Revenue | ~1446,432 | 1438514 | ||||
| ~1465 76 | 1,438,514 | |||||
| For tbe year eading 31March 2021 the company was entitled to exemption | hum audit | under semi on 477ofthe Corapanias | Aet 2006 | |||
| jelating to small companies. | ||||||
| ll Ix' |
| Investment | |||||
|---|---|---|---|---|---|
| Revenue | revnluatian | Total | |||
| At I April | 2020 | 1,438,514 | 1,438814 | ||
| Surplus for | the year | 7,918 | 18,844 | 26,762 | |
| Revaluation | ofinvestments | ||||
| At 31March 2021 | ~1446,432 | 18844 | ~1465 | 76 |
| ?Egl | ~02 | |||
|---|---|---|---|---|
| 8 | ||||
| Surplus for the year | 26,762 | 10,831 | ||
| Interest received | (4,815) | (5,685) | ||
| Dividends | received | (5,600) | ||
| Dcprcclstlotl nttd lmpairmctn |
ofumgiblo flxcd asscm | 853 | 973 | |
| (Gains) / | losses on investments | (18,844) | 2,859 | |
| Dncromo) Iocrctlsc / |
/ demesse in trade (dccfcssc) its tntdo |
and other debtors slid adler ctcdttofs |
125 ~549 |
(570) 2314 |
| Net omb | Bow frora operstlag activities | 3432 | ||
| Cash Bow from Investing sctvitlcs | ||||
| Payments | to acquire magi)tie | 0xed essots | (855) | |
| Payments | to sequin: investments | (99,000) | (97,600) | |
| Proceeds | from disposal ofinvestmeats | 80,000 | ||
| Interest receival Dividends received |
4,815 | 5,685 ~5600 |
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| Net cash | liow from lavestlug activities |
(94,185) | (7,170) | |
| Nct,lacrease/(decrease) In |
cash snd sash equivalents | (90,6S3) | (2,14S) | |
| Cash snd | cash equivalents | as at 31March 2020 | 404,706 | 4063154 |
| Gash snd | cash equivalents | asst31March 2021 | 314,0S3 | 404 706 |
| Oporating surplus ls state |
d | alter charging | |||
|---|---|---|---|---|---|
| Iycpreciation | 853 | 973 | |||
| 3. | Reels receivable Less rentlosses from voids |
114364 ~19 10 ~95 054 |
112,242 ~445 111,797 |
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| 4. | Properly maaagemeat | costs | |||
| ,'Wages end salaries | 29,231 | 26,307 | |||
| Cleenm's wages |
2.642 | 2,621 | |||
| ~Employer's pcmion costs |
1,098 | 1,000 | |||
| tFood | 10.300 | 9,079 | |||
| Heatlag and lighung |
10317 | 7,842 | |||
| 1 Cleaning | 1,626 | 1,416 | |||
| ~ Garden expenses |
778 | 650 | |||
| IIllstitan co Geaeral and water rates Repairs and renewals |
4,147 6432 ~65 |
3,521 6g74 31,142 |
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| 73,476 | 90 152 | ||||
| 2020 | |||||
| 1 | |||||
| 5. | hlaangement oad admlalstraHveerpeaditare |
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| Printing, postage. stationery |
and advcrli ~ing | 167 | 145 | ||
| 'Telephone | 464 | 457 | |||
| ~ Admlnlslrator's fees |
3.162 | 4,051 | |||
| 1Trustees travel expenses | 34 | 385 | |||
| ,Acesuntancy fees | F10 | 2276 | |||
| Profemional fees |
1,000 | 2,400 | |||
| Membmship fee |
3414 | 3,548 | |||
| Sundry expenses |
741 | 213 | |||
| ,Depreciation | 853 | 973 | |||
| Tlturltllg | |||||
| Donations | ~19145 | 19448 |
| Iaterest recei | vable and other lacome | ||
|---|---|---|---|
| 2fiiil | |||
| Inlerest receivable | 4,815 | 5,685 | |
| Donations | 450 | ||
| Miscellaneous | income | 220 ~5485 |
208 ~5893 |
| Miscellaneous income |
220 ~5485 ~ |
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|---|---|---|---|---|
| 7. | Dircctom emoluments | |||
| During the year no emoluments | were paid to the din+tora ofthe society. | "Director' includes | any members ofthe | |
| Comminec ofthe society. | ||||
| Wages aod salaries |
| 'lhe average number ofanployees | of | the | ||
|---|---|---|---|---|
| Society induding part time employccs |
was | 4 | 5 | |
| Costs io respect ofthese employees | ivere as follows- | |||
| Wsges and salaries Social security cmts Pension costs |
31,873 ~t 098 ~32 971 |
28,928 ~I 000 29,928 |
| Freehold | |||||||
|---|---|---|---|---|---|---|---|
| housing | Fixtures | ||||||
| pm perry | and linings | Computers | |||||
| 6 | 8 | 8 | |||||
| Cost | |||||||
| As at I April | 2020 | 895,869 | 32,494 | 519 | 928,882 | ||
| Additions | |||||||
| Disposal | 895 869 | ~32 | 494 | 519 | 928 882 | ||
| Accumulated | depreciation | ||||||
| As at I April | 2020 | 27,962 | 173 | 28,135 | |||
| Charge for year | 680 | 173 | 853 | ||||
| t | Depreciation | on disposals | |||||
| t | Asat31March2021 | 28 | 642 | 346 | 28 988 | ||
| I | Net book value | ||||||
| , | As at 31Marsh 2021 | 895 869 | 3 | 852 | 173 | ~899894 | |
| As at 31March 2020 | 895,869 | 4432 | 346 | 900,747 |
| $021 | ~02 | |||||
|---|---|---|---|---|---|---|
| Market value of listed invesunents | ||||||
| I | (Financial | assets measured | at fair value duuugb | the surplus/(deilcit)) | ||
| At 1 April | 2020 | 134,850 | 120,109 | |||
| Additions | 99,000 | 97,600 | ||||
| Disposals Unrealised |
gain/Ooss) | 18,844 | (80,000) ~2859 |
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| At 31March 2021 | 252,694 | 134,850 | ||||
| Historical | cost | |||||
| CCLA | 159,000 | 40,000 | ||||
| IDAD llm | CaEabk Deposit | Plan | 77600 236 600 |
77,600 ~117600 |