Company registration number 1108309 Charity registration number 266471 Registered Social Landlord number H1335 

The Abbeyfield Buckland Monachorum Society Limited (A company limited by guarantee and without share capital) 

Directors’ report and Accounts 

For the year ended 

30[th] September 2022 

Registered office and principal address Pilcher’s Field, The Crescent, Crapstone, Yelverton, Devon PL20 7PS 



The Abbeyficld Buckland Monachorum Society Limited
Directors, report and Accounts for the year to 30th September 2022
Content5
Pages
Directors, report
Accountant's report
Statement of Comprehensive Income
Statement of Financial Position
Statement of cash flow
Notes to account
8-12

Thc Abbeyfjeld Buekland Monacborum Soci¢ty Limited
Directors, report
For the yeAr ended 30th September 2022
The directors present their report and unaudited f￿antial statements for the year ended 30 September 2022.
Constitution
The Society is a company limited by guarantee number 1108309, a registered provider of social housing H1335
under the Housing and Regcneration Act 2(X)8, and a registered charity number 266471 governed by its
memoTaiiduin and articles of association. The membffl"s of the Society appoint a Committee of directors to
manage the Society. The Society is a public benefil entity.
The number of members of the Society as at 30 Septeinber 2022 was 12. Members consider the accounts, this
report of the committee of directors and the election of directors at the annual general meeting.
Statement of direetors, respon5ibilitie5
The directors who are a150 trustees for charity law purposes are responsible for preparing this report and the
financial statetnents in accordance with applicable law and regulations. Company law and registered social
housing legislation requiir the Directors to prepare financial stateinents foi. each fmancial year. Under that law
the Director5 have elected to prepare thc financial statements in accordance with General Accepted Accounting
practice (United Kingdom Accounting Standards and applicable law).
UndeT Cotnpany law the Directors must not approve tl)e financial statements unles5 they are satisfied that they
give a true and fair V￿eW of the state of affairs of the company and of the surplus or deficit of the company for
that period. In preparing these financial statements the directors are required to-
select suitable accouiiting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
observe the methods and principles in the Registered Social Housing Providers, 2014 SORP as updated
in2018
State whether applicable UK Accollnting Siandards have been followed, subject io any material
departures disclosed and explained in Ihe accounts
prepare the financial statements on a going concern basis unless it is inappropriate to assume that the
company will continue in business.
The directors are responsible for keeping proper accounting records which disc105e with reasonable accuracy at
any time the f￿ancIal p05ltion of the company and enable them to ensure that the accounts comply with the
Coinpanies Act 2006. They are also responsible foT safeguarding the assets of the company and hence for
taking reasonable step5 for the prcvention and detection of fraud and othei. ]￿egular1ties.
Risk management
The tnajoi" risks, to which the Society 15 exposed, as identified by the directors, have been reviewed and systems
have been established to miligate those risks by using the relevant Abbeyfield standard procedures.
Activities
The principal activity of the Society is to provide accommodation, care and companionship for lonely or frail
elderly people in accordance with the aims and principles of The Abbeyfield Society Limited.
During the year the Society achieved an occupancy level of 83.6Yo at its sheltered home. The occupancy level at
the date of this report 15 100/0.

The Abbryfield Buekl*nd MoDachor•m SThty LlmhteAI
Dircetors, report
For the year ended 301h September 2022
Mr K Farnham
Mrs R KelMK
Mr N M&xwdl
Mr K Toph•n
Mrs R K¢lM)e 8nd Mr N Maxwell retirt by rotslirn and offer themgElves for re-¢lettion.
Golthi eow¢ern
The dir¢dor5 have * rt8xJnabk expect￿ tha¢ the Society h￿￿qual¢ r¢50ur¢u to c(mtsnue in operalionsi
exi5*n¢e for th¢ fore5ccable firtwe. Atettdingly. ¢L￿tInUe tr) ￿ the goin8 ¢l￿CeM basis in preparing
the fiThancia] statements.
Revkw •nd results •f buslntsa d•rlnt th¢ ye*r
The directors continue ￿ ¢onskdcr the environment fortskin8 forward th¢ building of a five or SIX￿unit ¢xteA8ion
and in particular in 4 fonn able ty benefii from grant furKlin&
In the year the¥¢ w&% ￿ opff*in8 wrplus of £35,859 (21r21 £25292) be(off fin*ncin8 Overall. thrJe is #
SUTplus of £27.123 (2W21 £20.410) itt the ye8r.
The suc¢¢3y of the b)me rulx with the sthff and the voluntetrn ¢r¢&tr # P)sitive ambithce for Ttsidents.
We pay staff * kast the living wa8e &8 detemiined by the Livin8 Wa8e Found8tiort. Th¢ commillee th￿kS all
those who d¢votc their um¢ to the runnin8 of the home IrKI￿A]ng th¢ trt4nenthJus efforts in adoplin8 a]1 the
procedures and hy8i¢n¢ ￿VICe given durin8 the Covi&19 pand￿1¢.
V•lw for Mojbey wetr
The re8ul8tor fry Social housin8 issued 8 r¢vi%d Value for Money standard in May 2022 and require5 US to
rt on certain metrics ￿ stt beb7X.
M¢tric
2022
2021
Reinvestrn¢nt (%)
New Supply- ￿¢781 housi08 unÉlS (%)
New Supply- n(ffl wial howin8 units (%)
Gearin81%1
EBTTDA MRI int¢resl COVLY (%)
He8dline &ocia] housin8 co￿ Fer unit
Owatin8 margin I&Kial housin8 leuings) (%)
Operatin8 margin ((heraU) (%)
on capitsl anployed (%)
2(8)
2(b)
17.2%
21.5%
760.1%
£14.924
16.4%
16.4%
4.5%
£14.41Y4
22.1%
22.1%
Signed by o
er of the Committtt ofdirtL%ors
January 2023
K Fomh
Director

The Abbcyficld Buckland Monachorum Society lJimit¢d
AccoiLlltxii15' Repor¢ to Ihe Members ofThe Abbeyfield MonAchorum Society Limited.
l T¢]Xlrt on the accounts of the Society for the yeaT ended 30 September 2022 set out on pages 5 to 12.
This report is made solely to the SoGsety'S members, as a body. in accoi'dance wilh Seciion 145 of the Charities A¢1 2011. My
woj'k ha5 beeii underlaken so Ilial I iiiiglil st&t¢ to ilie Society's Ineinbers those iiiatttrs l aim required to statc lo thcrn ill this
independciit accoiintants, Teport and foT no other pui'pose. To the fullest exlenl perinitted by law. I do not accept or assutne
responsibility to anyone other than the Society and the Society's members as a body, for tny reporting work, for this report, or for
the opinions I have formed.
Respective i'esponslbillti¢s of member5 exHminer
The meinbers {who are also the directo￿ of the company for the purposes ofcompany law) are responsible for the preparation of
Ihe accoiinls. 'I'he IMeinb¢rs consider that ali audit is Jiot required for this year under section 144121 of the Charities Act 2011 aiid
section 136 of tlie Housing and Regeneialion A¢1 2008.
Having satisfjcd inyself that the So¢iety is not subject to audit I rcport in respect of my exaniination of your Society's accounts
arri¢d oul undcr section 145 of the 2011 Act. In Cartying out Jiiy cxainination I have followed the procedures laid down in ihe
general DirectlOll5 given by the Charity Commission under section 14515llbl of the 2011 Act and section 138 of the H0115ing and
Regeneration Act 21)08.
Basis ol exarniner s report
My examination incliides a review of the accounting records kept by the So¢i¢ty and 8 comparison of the accounts presented with
those rccords. It also iiicludes Gonsideraiion of any unusual item5 oi" disclosures in the accoullt5. and stEking explanatiotjs from
you as mcinbers concerning any such matters. The procedures undertaken do not pix)vide all the evidence Ihal would be irqiisred
n an audit and con5equ¢ntly no opinion is givell as to wlieiher th¢ accounts present a.true and fair view" and the report is limited
to those Jnatters set out in the statement below.
Examiner s Statement
In coniieclion wilh my examination, no matter ha5 come to my attention which give5 me reasonable cause to believe that. in any
material respect..
accounting records were not kept in accoi'(lan¢e with section 135 of the Housing and Regeneration Act 2008- or
Ihe accoiiiils do not accord with those records,. or
the accounts do not comply with the TequireTnents of seciion 396 of the Companie5 Ac¢ 2006, Ihe Housing RegeneL?tion
Act 2008 and the Aorounting DiiEclion for Private l£egi5t¢red Providers of Social Housing 2015. or
the accounts have not beeii prepared in accordan¢e with Ihe mcthods and principles of the Statement of Recommended
Practice for ac¢ounting and reporting ISORPI for i'cgisiered Social HousiiiE Provideis 2014 lupdaled 20181, applicable lo
ettlities prepariJi8 Ih¢ir accounts in a¢¢ordance with thc Fillancial Reporting Standard {FRS102)' or
the a¢¢ounts do not comply with the requir¢tnEnts of the Charities Act 2011.
I have no eoncerns aiid have coine aGr055 no other matters iii connection witli the examination to which attention should be drawn
in this repoit in ordei. to enable a proper understanding of the accounts to be reached.
Claire L Taylor BA (Honsl. F.C.C.A
Chadwick & Company Imanchesterl Liniit¢d
Chartcred Acctsuntanis
Stalulory Aiiditors
Capital House
272 Maiichester Road
Droylsden
Mancliester
M43 6PW
Dat¢..

The Abbeyfield Buckiand Monachorum Society Limited
Statement of Compi'ehensive Income
Year ended 30th Seplember 2022
Notes
2022
2021
Turnover
Operating expenditure
162,488
(126,629)
156,389
(130,797)
Operating Surplus
35,859
25,592
Finance income
Government funds receivable
Finance costs
10
573
(9,319)
24
487
(5,693)
Surplus before and after taxation being the total
comprehensive income for the year
27,123
20,410
Statement of cl)ange5 ill Reserves
In¢onJ¢ a[￿ Reslricled
Totsl
ExpenditUL'e
Resetve
Rtrerve
Balance of Reseives at 30tli Septeinbei 2021
Sui'plus for tlie year
Transfer of iEslI'icled income to Resu'icted Reserve
Balance of Resetves at 30tli Septembei- 2022
541.902 28,096
27,123
(1,703)
1,703
567,322 29,799 597,121
569,998
27,123
The notes on pages 8 to 12 fomi part of these financial statements

The Abbeyfield Buckland Mollaehornm Sockty LI￿￿ted
Statement of Financlal Positlon
Year ended 30th September 2022
otes
2022
2021
Tangible assets
Tan￿ble f￿ed assets - housing property
Current assets
Trade receivables
C&qh
698.939
699,325
7 42,567
66.355
108,922
42.852
13.491
56,343
Tra(k payables.. amount due within one year
Net current assets
Total Assets less current Il#bllltle8
8 29.088
20.543
79,834
778.773
35,800
735.125
Tr8de p8yables.' amounts due after more than onc year
181.652
165,127
Net Asset8
597,121
569.998
Equlty
Share Capital
Income and Expcnth'ture Rescryc
Restricted Reserve
567,322
29.799
597.121
541,902
28,096
569,998
The Dirvtors salisficd that the company is entitled to ¢xemp(ion from the requires)Knt w obtain #n audit under
sedion 477 of thc Conwnies Aci 2(￿6 and thBt the rwthrs have noi ttqULrcd th¢ company to obtsÈn an audit i
8¢cordllrKe With Section 476 of th¢ A¢t.
The Dircctors a¢knowlcdge restrt)wlbiliti￿ for that the chwity keeps a¢¢owitin8 reconts which corrwly with
section 3R6 of the Act 8tLd for preparing fill4￿121 sthten*Dts which give a Inje arwj fair view of the stste of affair5 of the
cornpany &$ at the eryj of the fttwJci81 ye1rw￿ of its in￿MIn8 Te80urc¢s 8t)d appliution of rtsou￿¢S includillg its income
and exp¢nditur¢. for thc financial year irh x¢onlancc with the rcquircT￿￿ls of sedions 394 a￿1395 aThl which oth¢tWise
comply with the requircll*hts ofthc ConvaM￿ Acl 2CKJ6 relatsDg kn fin8￿￿al ststcm¢DL% *9 aM)lie4blc ￿ th¢
ompany.
cordwK¢ with thc pm1y0￿ in P￿ 15 ofthe Cryies
Act 2th)6 $ubject to t
K Farnham
Director
Approved by the
on 20th January 20
Company regi$tsation number 1108311
The notes on pages 8 to 12 forni part of the￿ financial statements

The Abbeyfield Buckl&nd Monachorum Society Limited
Statement of eash llow
Year ended 30th September 21J22
Notes
2022
2021
Statement of cash lloivs
Cash flows from operating activities
Surplus for the financial year
Adjustments for..
27,123
20,410
Depreciation of fixed assets
Amortisation of gt2nt
Intei'e8t payable and financing costs
Interest received
Goveminent funds received
Decrease in trade debtors
(Dccrease) in tl'Ade creditors
Net cash generated from operating activites
17,079
(380)
9,319
(10)
(573)
285
505
53,348
18,063
{380)
5,693
(24)
(487)
9,910
2.625
55,810
Cash nows from investing activities
Expenditure on fixed assets - housing property
Expenditure re potential extension
Goveiiiinerit fwids received
Intei-est i'eceived
Net cash used in investing activitie5
(16.693)
(133,592)
(8,899)
96
io
16,587)
24
(142,467)
Cash (xnflows)/ outflows from financing activites
Interest paid
Nct bank loans (granted)I repaid
Net eash cost from financing activities
8.842
(24,945)
{16,103
5,206
(29,918
(24,712)
Net inerease in eash and cash equlvalents
Cash and cash equivalents at bcginnliig of year
Cash and cash equivalents at end of year
52,864
fi3,491
66,355
(61,945)
75,436
13,491

The Abbeyfield Buckland Monachorum Society Limited
Note5 to the Accounts
Year ended 30th September 2022
l Accountlng policies
Accoiiiiliiig coiivenÉioii
The accounts have been prepared in aceoi'dance with applicable law and UK aecounting
standards (United Kingdom Genei'ally Acceptcd Accounting Practice) which includes
the Companies Act, Housing and Regeneration Act 2008, FRS 102, the Financial Reporting
standard applicable in the United Kingdom and Republic of li'eland, and the Statement of
Recommended Accounting Practice (SORP) for Registered Social Housing Providers
2014 as updated in 2018 ('A¢coiinting by Registered Social Housing Providers 2014,), and the
Accounting Dii'ection for Private Registered Providers of Social Housing 2019.
Jiicoiiie
The Society's tumovcr pi'incipally comprises r&%idents' charges i'eeeivable frorn the home. The
residents, chai'gcs are coinposite amounts covering rent and seLvice charges. Tuinover froin
lettings is i-ecognised on delivery of services to users, as the Society performs its obligations.
Service cliarge.
The Society adopts either fixed or variable methods for calculating and charging service cl)arges
to ils residents. Expenditure is recorded when a serviee is provided and chai-ged to the i'elevant
setvice charge account oi. to a sinking fund. Income is recorded based on the estimated
amounts chai'geable.
Turnover from lettings is i'ecognised on delivery of services to end users, as the Society peLfonns
its obligations. Tumover from the sale of units is recognised on completion of sales.
Deprecirttion
The housing pi'operty is depreciated on a straight line basis ovei. the expected useful economic life
The depreciable amount is airived at on the basis of original cost. Majoi. components are treated
as sepei'able assets and depi'eciated over the expected useful econornic life as follows..
Structures
100 years
Roof coverings
50 years
Heating and water systems, kitchens and bathrooms 30 years
Lifts
30 yeat
Electrical improvements
20 years
Depreciation on tangible fixed assets is charged on a straight line basis so as to wi'ite down the
value of the asset over its expected economic life as follows-
Cary)cts
10 yeai's
Furniture and Equipment
5 years
Undei. the provisions of the ITA 2007 CTA 2010, the company is exempt from COLyoralion tax on
income and surpluses, where these are applied for chai'itable puiyoses. In the opinion of tlie
Dii'ectors all income and surpluses of the Society fall within the above exemptions and thei'efoi'e
DO liability Lo coipoi'alion tax will arise.
The Society is not i'egistered for VAT purposes and consequ¢ntially all income and expenditure is
slated gross of Valiie Added Tax.

The Abbeyfield Buckland Monachorum Society Limited
Tr4otes to the AceountS
Year ended 30th September 2022
Freeliold Pj'opeity
The housing property constructed on land wliich the Society owns is stated at Cost le8S
depreciatioii. Expenditure on majoi. refurbishment is capitalised where the works increase
the net i'enlal streain over the life of the propety. All other repaii. and i'eplacement expenditure
is charged to the Statenient of Compi'ehensive Income.
Govevniiieiit gvaiits
GrAnts received on the coiistsuclion of the homc are accounted for using the accrual
model set out in FRS 102 and the Housing SORP 2014. Grants are carried as defei'red incorne
in the balance sheet and released to the income and expcnditure account on a systematic basis
over the the use￿1 economic life of the asset foi. which it was received.
Where social housing grant funded propety is sold the grant is transfetTed to a reeycled capital
'ant fund until it is reinvested in replacement pi'opeity. If thei'e is no reqiiirement to recycle or
repay the grant on disposal of the assets any unamorlised grant i'emaining within Creditors is
released and i'ecognised as income within the income and expendituir account.
Grants relating to i'evenue ate recogniscd in incorne and expenditure over the same peiiod as
the expenditure to which they relate.
Loans and short term deposlts
These instiuments arc initially recorded at the traijsaction price less any transaction costs
(historical cost). FRS 102 I'equires that basic financial instruments al'e subsequeiitly measured
at amoitised cost. However, as the difference between the historical cost and amortised basis
is not matci'ial these financial instruments ait stated at historical cost.
Coiiliiigeiii liabilities
A contingent liability is recognised for a possible obligation for which it is not yet confirnjed
that a present obligation exists that could lead to an outflow of resource- or for a pi'csent
obligation that does not meet the definitions of a pi'ovision or a liability as it is not probable
that an outflow of resouk'ces will be i'equired to settle the obligation or when a sufficiently
reliable estimate of the amount cannot be made.
A contingent liability exists on ￿'allt L'epayment which is dependent on tlie disposal of related
property.
Reserves
Incoine i'eceived, and expenditure ineunEd, for restricted purposes is separately accounted for
within restricted funds. The restiicted irserves iEpresent a Reseive established for leasehold
residents to meet their shal'e of fiiture long term repairs to the property-

The Abbeyfield Buekland Monachorum Society Limited
Notes to the Accounts continued
Year ended 30th September 2022
Peiisioii cosls
Tlie Society operates a defined contribution pension sclieme. Contributions are charged to the
pi'ofit and loss account as tliey become payable in accordanee witli the i￿leS of the scheme. No
liability arises at the year end.
Holiday Pay accrual
A liability is i'ccognised to the extent of any unused holiday pay entitlement which has acciued
al the balance sheet date and Ca￿Led fonvard lo future periods. This is measured at the
undiscollnled salary cost of t]ie futui'e holiday entLtleinent so accTued al the balance sheet date.
Goiiig coiicerii
On I Ith March 2020, Covid-19 was desigmated a pandemic by the Woild Health Organisation.
The trustees continue to review the impact on the Society, ensuring provisions are put in place to
mitigate any risk on the Societys abilityto trade as a going concein. At the date of signing the
financial stateTnents, in the opinion of the dii'eetoi's, Covid-19 will not iinpact on the Society's
ability to continue as a going concern. Consequently, the Society continues to adopt the going
concern basis in preparing the finacial stateincnts.
2 Operating Sui'plus
This is stated afier charging..
2022
2021
Depreciation of owned fixed assets
17,079
18,063
3 Residential Chai'ges
2022
2021
Nominal total charges receivable
Losses fi'om vacancies 6.2 /0 {20215.6 %)
Net receipts from charges 93.8 / (2020 94.40/0)
172,370
{10,629
161,741
165,670
(9,341)
156,329
4 Staff Costs
2022
2021
Wages and salaries
Pension contributions
53,598
1,692
55,290
55,321
1,680
57.001
Average numbei. of employees
Full time
Part time (equivalent full time)
5 Finance costs
2022
2021
Intei'est payable to Lloyds Bank plc
10

The Abbeyfield Bllckland Monachoi'um Society Limited
Notes to the Aecounts continued
Year ended 30th Septembei. 2022
6 Tangible fixed assets
Land
Freehold Furrbiture
and
property
Cost
Isi October 2021
Additions
Disposals
30th September 2022
Equipmenl
Total
35,000 825,253 75,126 935,379
16,693
16,693
(6,650
(6.650)
35,000 835,296 75,126 945,422
Depreciation
1st Octobcr 2021
Charge for year
On disposals
30th September 2022
172,758 63,296 236,054
13,040 4,039
17,079
6,650)
(6,650)
179,148 67.335 246,483
Net book value
30th Septembei. 2022
35,000 656,148 7,791 698,939
30th Septernber 2021
35,000 652,495 11,830 699,325
7 Trade i'eceivables
21J22
2021
Trade debtors and prepayments
Expenditure on pn)posed extension
815
41,752
42,567
1,100
41,752
42,852
The cxpenditure on the proposed extension includes legal chai'ges, planning and building eontrol
fees, supporting i'epoi'ts, architccls fees and initial woi'ks to commence tlie development. The
directors believe the market value of the site is significantly in excess of the land and above costs.
8 Trade payables
Amounts falling due Ivithin one year
Lloyds Bank plc - tciin loan
Lloyds Bank pl¢ - bouncebaclc loan
Lloyds Bank plc - additional loan
Accruals and other liabilities
2022
2021
12,444
7,200
3,360
6,084
29,088
11,364
5,579
20,543
Amounts falling duc in more than one year
20 yeai. tei'in loan lo July 2035 -Lloyds Bank plc
7 yeai. term bolinceback loan to March 2028 -Lloyds Bank plc
20 yeai. additional loan to Octobei. 2041 Lloyds Bank plc
Deferred capital grant (see note 9)
98,940
25,200
31,292
26,220
181,652
106,127
32,400
26,600
165.127
11

The Abbeyfield Bueldand Monachorum Society Llmlted
Notes to the Accounts Continued
Year ended 30th September 2022
The 20 year tertn loan is secured with a mortgage on the propety and a fixed and floating charge
on the assets of the Society. The 6 year teiTh loan is an unsecured government backed COronavi￿S
9 Deferred capital grant
2022
21)21
30th September 2021
Released to income during the yeai.
30th Scptember 2022
26,600
380
26,220
26,980
380
26,600
10 Contingent liabfilfitles
The cornpany received a grant from the Home and Cornmunities Agency which was used to
fund the devclopinent of the housiiig property. If the company disposes of the Iiome thei'e is a
contingent liability of £11,780 in respect of the grant that might be repayable. This is in
addition to the liability of £26.220 recognised in creditors see notes 8 and 9. The total figure
of £38,000 represents the ￿'ant received on construction of the pi'operty in 1992. There are no
plans to dispose of the propety at this time or in the immediate futLWe.
11 Accommodation in management: Housing for older people
Nuinber of beds for full time i'esidenls
Number of beds for residents, guests
2022
io
2021
10
12 Related party transactions
The Directors of the company benefit from indemnity insui'ance to cover any liability i'esulting
from any negligence, default or breach in their duty.
One dircetor chw'ged foi. using his home as an office and related expenses. The ainount expended
was £1,454 (2021 £1,701). These wei'e approved by independent directors.
13 Capit81 Commitments
At the year end chere were commitments of £nil (2021 £nil)
14 Company information
The Registered office aiid principal address is Pilchei's Field, The Crescent, Crapstone,
Yelverton, Devon PL20 7PS. The Society is a conipany limited by guarantee, COiT)pany number
01108309, a registeiEd providei. of social housing, ref H1335, undei. the Housing and
Regeneration Act 2008, and a i'cgistered chaiity numbei. 266471.
12