## |Contents||Page| |---|---|---| |Reference and adminislrati
on|details|| |Report ofthe commiuee||2-3| |Reporting accountants'
repon||| |Statement ofcomprehensive|income|| |Statement ofllnancisl
posidon||| |Statement ofchanges
in reserves and equity||| |Statement ofcash flows||| |Notes to the financia
statemenls||9-ls| |||I|||| |---|---|---|---|---|---| |||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|||| |||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.||| |---|---|---| |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||| |'1)m relief and support ofelderly persons ofall classes sutfering
from the disabgities ofold age or othenvlse
ia nccd.||| |The sp reading
ofChrisum
principles
to sU human
relationships
and the appl icadon of humanitarian
alms to pmmoto the reliefofthe||| |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.||| |'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.||| |Summary
ofthe main actlvltlm
in relation to these objectives||| |The provisloa ofsheltered
acconunodation
for the cld«rly at its premises
situated
at numbers
2,3 and 4 St Paul's|Square together
'|| |wilh support and companionship.||| |Additloaal
detags ofobjectives and activities||| |The Society is nm by a comminee ofvoluntcem.||| |ACHIEVEMENTS
AND FERFORMANCE||| |Summary oftham«is
achievements
ofthe charity during
the year||| |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,||| |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||| |aro prcpawd
to auram now residents
once restrictions
have been ligcd.||| |inevitably,
vacancies have meant areduction
in rental income but wc make en annual
allowance
in our budget for such cirmunstances||| |and have not needed to draw on resmves
for2020-21.||| |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.||| |Our reserv«s are invested
for funding
futuro developments
ofDuiSeld House.||| |Financial
result||| |Ager providing
for outgoings ofa revenue
nature there is a net surplus
for thc year of 57.918(2020 surplus 513,690). The balance||| |ofrevenue
reserves carried fmvmrd
to future years amounts
to 61,465176(2020gi 438514). The Society is able to meet||aEofits| |obggstlollx||| |Property
values||| |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.||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |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||||||||||||| |21 Bampton Street||||||||||||| |Tlvertonl||||||||||||| |Devon||||||||||||| |EX166AA||||||||||||| |Dsm: (+KCyxt (aCfu||||||||||||| |Turnover|||95054|~lt I 797| |---|---|---|---|---| |Operating
costs||||| |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||||| |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| |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| |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| |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| |||||73,476|90 152| ||||||2020| ||||||1| |5.|hlaangement
oad admlalstraHveerpeaditare||||| ||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 ~| |---|---|---|---|---| |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| ||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| ## ## ##