Abbeyfield Camborne Society Limited Report of the Trustees for the Year Ended 31 March 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objective of the Charity is to provide accommodation and services for lonely and elderly people in accordance with the principles of the Abbeyfield Society Limited. These activities fall wholly within hostel housing activities as defined in the Housing Act 1996. Public benefit All our charitable activities focus on the relief and care of elderly persons of all classes; the spreading of Christian principles to all human relationships. the provision of further education in the sphere of voluntary work and other such purposes as the society shall determine fom] time to time. The trustees confirn] that they have complied with the duty linder Section 4 of the Companies Act 2006 to have due regards to the Charity Commission's general guidance on public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities The Charity achieved incoming resources in the year of £90,814 (2022: £92,201. The related resources expended were £108,686 (2022: £117,474). FINANCIAL REVIEW Investment policy and objectives The Memorandum of Association empowers the Charity to make any investment as may be thought fit. Funds surplus to immediate requirements are currently being invested in an HSBC deposit account and Cambridge and Counties Bank account with immediate access if required. Reserves policy The Trustees would ideally hold in free cash reserves, not invested in fixed assets, sufficient monies to cover four months average expenditure. This would have required £36,229 as at 31 st March 2023. The Trustees continually monitor budgets to ensure they have sufficient fiinds to cover revenue expenditure. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees Trustees are elected for a three year period and may be re-elected. They meet once a month, organising the day-to-day operation of the Charity's house Treveor. The Charity is an affiliate of The Abbeyfield Society, a National UK Charity, and this Iimbrella organisation provides formal training and procedural manuals to Tlie Abbeyfield Society Camborne Limited. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01086377 (England and Wales) Page I
Abbeyfield Camborne Society Limited Report of the Trustees for the Year Ended 31 March 2023 Registered Charity number 268826 Registered office Treveor 33 Basset Road Camborne Cornwall TR14 8SH Trustees R Bunt Deputy Chainnan A Parsons Chairman Dr R Joseph Trustee N Druce Treasurer (appointed 1.4.22) Independent Examiner Briants Chartered Accountants Maritime House Discovery Quay Falmouth Cornwall TRI13XA Approved by order of the board of trustees on 22 December 2023 and signed on its behalf by: R Bunt - Trustee Page 2
Abbeyfield Camborne Society Limited Statement of Financial Activities for the Year Ended 31 March 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 620 620 1,150 Charitable activities Housing 89,129 89,129 90,391 Iiivestment income 1,065 1,065 660 Total 90,814 90,814 92,201 EXPENDITURE ON Charitable activities Housing 108,686 108,686 117,503 NET INCOME/(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets (17,872) (17,872) (25,302) 25,000 Net movement in funds (17,872) (17,872) (302) RECONCILIATION OF FUNDS Total funds brought forward 507,912 118,872 626,784 627,086 TOTAL FUNDS CARRIED FORWARD 490,040 118,872 608,912 626,784 The notes fom] part of these financial statements Page 4
Abbeyfield Camborne Society Limited Balance Sheet 31 March 2023 2023 Total funds 2022 Total funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 386,774 118,872 505,646 507,305 CURRENT ASSETS Debtors Cash at bank and in hand 1,808 109,600 1,808 109,600 2,120 133,912 111,408 111,408 136,032 CREDITORS Amounts falling due within one year (8,142) (8,142) (16,553) NET CURRENT ASSETS 103,266 103,266 119,479 TOTAL ASSETS LESS CURRENT LIABILITIES 490,040 118,872 608,912 626,784 NET ASSETS 490,040 118,872 608,912 626,784 FUNDS Unrestricted funds Restricted funds 10 490,040 118,872 507,912 118,872 TOTAL FUNDS 608,912 626,784 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its siirplus or deficit for each financial year in accordance with the requireinents of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to finaiicial statements, so far as applicable to the charitable company. The notes fomi part of these financial statements Page 5 continued..
Abbeyfield Camborne Society Limited Balance Sheet - continued 31 March 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 22 December 2023 and were signed on its behalf by: R Bunt - Trustee Tlie notes fomi part of these financial statements Page 6
Independent Examiner's Report to the Trustees of Abbeyfield Camborne Society Limited Independent examiner's report to the trustees of Abbeyfield Camborne Society Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. Responsibilities and basis of report As the charity's trnstees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('tlie 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited linder Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. T A C Briant FCA Briants Chartered Accountants Maritime House Discovery Quay Falmouth Cornwall TRI13XA Date: 22nd December 2023. Page 3