COMPANY REGISTRATION NUMBER: 00920406 CHARITY REGISTRATION NUMBER: 275458
ABBEYFIELD TEWKESBURY SOCIETY LIMITED Company Limited by Guarantee
Unaudited Financial Statements 30th September 2021
BERNARD ATKINS LIMITED
Chartered Accountants and Chartered Tax Advisers Eight Bells House 14 Church Street Tetbury Gloucestershire GL8 8JG
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Financial Statements
Year ended 30th September 2021
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 5 |
| Statement of financial position | 6 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 19 |
Page 1
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30th September 2021
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30th September 2021.
Reference and administrative details
Registered charity name ABBEYFIELD TEWKESBURY SOCIETY LIMITED Charity registration number 275458 Company registration number 00920406 Principal office and registered 49 Church Street office Tewkesbury Gloucestershire GL20 5SN The trustees A N CROWTHER L S CHATHAM D E HUNT R H WORKMAN
Company secretary
C JONES
Independent examiner Bernard Atkins FCA CTA BERNARD ATKINS LIMITED Chartered Accountants and Chartered Tax Advisers Eight Bells House 14 Church Street Tetbury Gloucestershire GL8 8JG
Structure, governance and management
The society is registered under the Companies Act (registered number 00920406) and is a registered charity (number 275458).
The Memorandum and Articles of Association of Abbeyfield Tewkesbury Society Limited were incorporated on 30 October 1967. These documents define the constitution of the company and set out the management procedures and can be obtained by application to the Secretary.
Page 2
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30th September 2021
Objectives and activities
The principle activity of the Society is the provision of sheltered accommodation for the elderly in accordance with the aims and principles of The Abbeyfield Society.
The Trustees have complied with their duty to have due regard to public benefit as published by the Charity Commission.
An Employed Housekeeper and Assistant as well as relief staff and volunteers and a part-time Administrator are used to run the Society. There is a committee meeting open to all staff and volunteers that has met during the year but less frequently during the pandemic. Safe running of the house and health and safety matters are discussed at these meetings. The Administrator deals with staff payment, provision and maintenance of standards and health and safety concerns, as well as residential enquiries.
The Society relies on payment of rent and donations to operate and is non-profit making. The volunteers are unpaid but can recoup agreed expenses.
This Society works closely with other Abbeyfield Societies in Gloucestershire, Worcester and Hereford under the name of Three Counties Group, a co-operation that is promoted by the Abbeyfield Society. Tewkesbury is an independent Member society affiliated to the national Abbeyfield Society of St Albans.
Achievements and performance
Our housekeeper has been with us since 2016 and during 2021 has been joined by an assistant as well as occasional relief staff. They are available between 9am and 6pm daily. We are finding it difficult to recruit more residents, especially since the pandemic, however we are hoping things will improve now that restrictions are easing. During the year one volunteer committee member has continued her work updating our Fire Precautions.
We have 4 possible letting rooms which are vacant and have found that the few people that have come for their trial period, were not suitable as they have really needed a care home.
The reduced numbers in the house will eventually cause a financial problem. However, we remain optimistic about enticing at least one more resident and that would bring us financial stability. Our housekeeper is very thrifty and also undertakes cleaning duties that were previously paid.
The residents and their relatives have been very understanding of the need to protect themselves from the effects of the virus during the lockdown. They are still exercising care and appreciate the way they household has protected their loved ones.
We had a leak from our sky light and this needed urgent attention. We are still waiting for the damaged paintwork to be repaired. We have also replaced carpets and removed spare furniture etc. to make the house more welcoming
Page 3
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30th September 2021
Financial review
The reduced numbers in the house will eventually cause a financial problem. However, we remain optimistic about enticing at least one more resident and that would bring us financial stability. Our housekeeper is very thrifty and also undertakes cleaning duties that were previously paid.
The residents and their relatives have been very understanding of the need to protect themselves from the effects of the virus during the lockdown. They are still exercising care and appreciate the way they household has protected their loved ones.
We had a leak from our sky light and this needed urgent attention. We are still waiting for the damaged paintwork to be repaired. We have also replaced carpets and removed spare furniture etc. to make the house more welcoming
Plans for future periods
The national Abbeyfield Society is restructuring the way the society manages its UK-wide interests both in managed houses, care homes and the member houses. Tewkesbury is an independent affiliated society. Until we can open the house and recruit more residents we will continue to do our best to maintain the basic resources that we have been able to hold during the past few years. We have no plans for major works but realise that four of our seven rooms, which are bed-sitting rooms with separate shower and toilet, will be seen as unsatisfactory in the current climate very soon. The friendly nature of the house situated conveniently in the heart of Tewkesbury remains our best asset.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 29th March 2022 and signed on behalf of the board of trustees by:
D E HUNT Trustee
Page 4
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Year ended 30th September 2021
I report to the trustees on my examination of the financial statements of ABBEYFIELD TEWKESBURY SOCIETY LIMITED ('the charity') for the year ended 30th September 2021.
Responsibilities and basis of report
The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Independent examiner's statement
I have completed my examination. I confirm 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 charity as required by section 386 of the Companies House 2006 (the 2006 Act); or
-
the financial statements do not accord with those records; or
-
the financial statements 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 financial statements 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.
Bernard Atkins FCA CTA BERNARD ATKINS LIMITED Chartered Accountants and Chartered Tax Advisers Independent Examiner
Eight Bells House 14 Church Street Tetbury Gloucestershire GL8 8JG
29[th] March 2022
Page 5
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30th September 2021
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | – | 1,277 | 1,277 | 7,927 |
| Charitable activities | 6 | 59,670 | – | 59,670 | 62,403 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Total income | 59,670 | 1,277 | 60,947 | 70,330 | |
| ============================ | ======================= | ============================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 65,107 | 1,788 | 66,895 | 74,196 |
| Other expenditure | 9 | – | – | – | 75 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 65,107 | 1,788 | 66,895 | 74,271 | |
| ============================ | ======================= | ============================ | ============================ | ||
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Net expenditure and net movement | in | ||||
| funds | (5,437) | (511) | (5,948) | (3,941) | |
| ============================ | ======================= | ============================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 74,185 | 26,768 | 100,953 | 104,894 | |
| ---------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 68,748 | 26,257 | 95,005 | 100,953 | |
| ============================ | ============================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 17 form part of these financial statements.
Page 6
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Position (continued)
30th September 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 80,467 | 85,244 | |
| Current assets | ||||
| Debtors | 15 | 2,401 | 4,611 | |
| Cash at bank and in hand | 37,574 | 37,164 | ||
| ---------------------------- | ---------------------------- | |||
| 39,975 | 41,775 | |||
| Creditors: amounts falling due within one year | 16 | 7,168 | 7,120 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 32,807 | 34,655 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 113,274 | 119,899 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 17 | 18,269 | 18,946 | |
| -------------------------------- | -------------------------------- | |||
| Net assets | 95,005 | 100,953 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 26,257 | 25,526 | ||
| Unrestricted funds | 68,748 | 75,427 | ||
| ---------------------------- | -------------------------------- | |||
| Total charity funds | 21 | 95,005 | 100,953 | |
| ============================ | ================================ |
For the year ending 30th September 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The notes on pages 8 to 17 form part of these financial statements.
Page 7
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Position (continued)
30th September 2021
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 29th March 2022, and are signed on behalf of the board by:
D E HUNT Trustee
The notes on pages 8 to 17 form part of these financial statements.
Page 8
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30th September 2021
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 49 Church Street, Tewkesbury, Gloucestershire, GL20 5SN.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
The charity is a public benefit entity.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
No cash flow statement has been presented for the company.
Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Page 9
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Page 10
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Freehold property | - | 2% straight line |
|---|---|---|
| Fixtures & fittings | - | 10% reducing balance |
| Property improvements | - | 2% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Page 11
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
Corporation tax and VAT
The society is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
The society was not VAT registered at any time during the year ended 30 September 2019.
Page 12
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
4. Limited by guarantee
The society is a company limited by guarantee and has no share capital. Each member has undertaken to contribute an amount not exceeding £1 in the event of the company being wound up while he or she is a member or within one year of ceasing to be a member.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | – | 600 | 600 | |
| Grants | ||||
| Grants released during year | – | 677 | 677 | |
| -------------- | ----------------------- | ----------------------- | ||
| – | 1,277 | 1,277 | ||
| ============== | ======================= | ======================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 250 | – | 250 | |
| Grants | ||||
| Grants released during year | 7,000 | 677 | 7,677 | |
| ----------------------- | -------------- | ----------------------- | ||
| 7,250 | 677 | 7,927 | ||
| ======================= | ============== | ======================= | ||
| Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2021 | Funds | 2020 | |
| £ | £ | £ | £ | |
| Rental income | 129,755 | 129,755 | 125,580 | 125,580 |
| Less: losses from voids | (70,085) | (70,085) |
(63,177) | (63,177) |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 59,670 | 59,670 | 62,403 | 62,403 | |
| ================================ | ================================ | ================================ | ================================ |
6. Charitable activities
Page 13
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
7. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Social housing provision | 59,372 | – | 59,372 |
| Support costs | 5,735 | 1,788 | 7,523 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| 65,107 | 1,788 | 66,895 | |
| ============================ | ======================= | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Social housing provision | 66,319 | – | 66,319 |
| Support costs | 6,033 | 1,844 | 7,877 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| 72,352 | 1,844 | 74,196 | |
| ============================ | ======================= | ============================ |
8. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total funds | Total funds | ||
| directly | costs | 2021 | 2020 | ||
| £ | £ | £ | £ | ||
| Social housing provision | 59,372 | – | 59,372 | 66,319 | |
| Governance costs | – | 7,523 | 7,523 | 7,877 | |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| 59,372 | 7,523 | 66,895 | 74,196 | ||
| ============================ | ======================= | ============================ | ============================ | ||
| 9. | Other expenditure | ||||
| Restricted | Total Funds | Restricted | Total Funds | ||
| Funds | 2021 | Funds | 2020 | ||
| £ | £ | £ | £ | ||
| Loss on disposal of tangible fixed | |||||
| assets held for charity's own use | – | – | 75 | 75 | |
| ============== | ============== | ============== | ============== | ||
| 10. | Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | |||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 5,528 | 5,894 | |||
| Loss on disposal of tangible fixed assets | – | 75 | |||
| ======================= | ======================= | ||||
| 11. | Independent examination fees | ||||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial | statements | 2,004 | 1,956 | ||
| ======================= | ======================= |
Page 14
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Wages and salaries | 28,651 | 21,186 |
| Employer contributions to pension plans | 400 | 402 |
| Other employee benefits | 7,967 | 15,066 |
| ---------------------------- | ---------------------------- | |
| 37,018 | 36,654 | |
| ============================ | ============================ |
The average head count of employees during the year was 1 (2020: 1). The average number of full-time equivalent employees during the year is analysed as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Housekeepers | 1 | 1 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2020: Nil).
13. Trustee remuneration and expenses
No remuneration was payable in either the current or preceding year.
There were no Trustees pension arrangements in place either year.
No compensation was payable in respect of either year.
No consideration was payable in either year in respect of services provided by third parties for making available personnel.
14. Tangible fixed assets
| Land and | Fixtures and | Property | ||
|---|---|---|---|---|
| buildings | fittings | Improvements | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1st October 2020 | 64,437 | 94,967 | 10,314 | 169,718 |
| Additions | – | 751 | – | 751 |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| At 30th September 2021 | 64,437 | 95,718 | 10,314 | 170,469 |
| ============================ | ============================ | ============================ | ================================ | |
| Depreciation | ||||
| At 1st October 2020 | 24,966 | 55,388 | 4,120 | 84,474 |
| Charge for the year | 1,289 | 4,033 | 206 | 5,528 |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| At 30th September 2021 | 26,255 | 59,421 | 4,326 | 90,002 |
| ============================ | ============================ | ============================ | ================================ | |
| Carrying amount | ||||
| At 30th September 2021 | 38,182 | 36,297 | 5,988 | 80,467 |
| ============================ | ============================ | ============================ | ================================ | |
| At 30th September 2020 | 39,471 | 39,579 | 6,194 | 85,244 |
| ============================ | ============================ | ============================ | ================================ |
Page 15
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
15. Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Prepayments and accrued income | 881 | 1,191 | |
| Social Security and other taxes | 1,520 | 3,420 | |
| ----------------------- | ----------------------- | ||
| 2,401 | 4,611 | ||
| ======================= | ======================= | ||
| 16. | Creditors: amounts falling due within one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Accruals and deferred income | 7,092 | 7,045 | |
| Pension control | 76 | 75 | |
| ----------------------- | ----------------------- | ||
| 7,168 | 7,120 | ||
| ======================= | ======================= | ||
| 17. | Creditors: amounts falling due after more than one year | ||
| 2021 | 2020 | ||
| £ | £ | ||
| Deferred income | 18,269 | 18,946 | |
| ============================ | ============================ | ||
| 18. | Deferred income | ||
| 2021 | 2020 | ||
| £ | £ | ||
| At 1st October 2020 | 19,623 | 19,623 | |
| Amount released to income | (1,354) | (677) | |
| ---------------------------- | ---------------------------- | ||
| At 30th September 2021 | 18,269 | 18,946 | |
| ============================ | ============================ |
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £400 (2020: £402).
20. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Recognised in creditors: | ||
| Deferred government grants due after more than one year | 18,269 | 18,946 |
| ============================ | ============================ |
Page 16
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At 30th | |||
| 1st October | September | |||
| 2020 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| General funds | 74,185 | 59,670 | (65,107) | 68,748 |
| ============================ | ============================ | ============================ | ============================ | |
| At | At 30th | |||
| 1st October | September | |||
| 2019 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| General funds | 78,126 | 69,653 | (72,352) | 75,427 |
| ============================ | ============================ | ============================ | ============================ | |
| Restricted funds | ||||
| At | At 30th | |||
| 1st October | September | |||
| 2020 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Property improvement fund | 26,768 | 1,277 | (1,738) | 26,307 |
| Other Restricted Funds | – | – | (50) | (50) |
| ---------------------------- | ----------------------- | ----------------------- | ---------------------------- | |
| 26,768 | 1,277 | (1,788) | 26,257 | |
| ============================ | ======================= | ======================= | ============================ | |
| At | At 30th | |||
| 1st October | September | |||
| 2019 | Income | Expenditure | 2020 | |
| £ | £ | £ | £ | |
| Property improvement fund | 26,768 | 677 | (1,919) | 25,526 |
| Other Restricted Funds | – | – | – | – |
| ---------------------------- | -------------- | ----------------------- | ---------------------------- | |
| 26,768 | 677 | (1,919) | 25,526 | |
| ============================ | ============== | ======================= | ============================ |
The restricted fund is a property improvement fund established in 2000 to provide for the improvement and modernisation of the housing facilities.
Page 17
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2021
22. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Tangible fixed assets | 35,941 | 44,526 | 80,467 |
| Current assets | 39,975 | – | 39,975 |
| Creditors less than 1 year | (7,168) | – | (7,168) |
| Creditors greater than 1 year | – | (18,269) | (18,269) |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| Net assets | 68,748 | 26,257 | 95,005 |
| ============================ | ============================ | ============================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| £ | £ | £ | |
| Tangible fixed assets | 40,772 | 44,472 | 85,244 |
| Current assets | 41,775 | – | 41,775 |
| Creditors less than 1 year | (7,120) | – | (7,120) |
| Creditors greater than 1 year | – | (18,946) | (18,946) |
| ---------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 75,427 | 25,526 | 100,953 |
| ============================ | ============================ | ================================ |
23. Related parties
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.
Page 18
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Management Information
Year ended 30th September 2021
The following pages do not form part of the financial statements.
Page 19
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 30th September 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | 600 | 250 |
| Grants released during year | 677 | 7,677 |
| ----------------------- | ----------------------- | |
| 1,277 | 7,927 | |
| ----------------------- | ----------------------- | |
| Charitable activities | ||
| Rental income | 129,755 | 125,580 |
| Less: losses from voids | (70,085) | (63,177) |
| -------------------------------- | -------------------------------- | |
| 59,670 | 62,403 | |
| -------------------------------- | -------------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total income | 60,947 | 70,330 |
| ============================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Food and household costs | 4,615 | 4,467 |
| Staff wages | 28,651 | 21,186 |
| Staff pension contributions | 400 | 402 |
| Subcontract | 7,967 | 15,066 |
| Rent, rates and water | 4,546 | 3,915 |
| Light and heat | 5,121 | 5,190 |
| Repairs and maintenance | 2,715 | 7,640 |
| Insurance | 2,094 | 1,685 |
| Travel and subsistence | – | 560 |
| Membership fees | 1,179 | 2,218 |
| Telephone | 1,228 | 1,178 |
| Sundry expenses | 499 | 923 |
| Laundry and cleaning | 212 | 1,275 |
| Advertising | – | 554 |
| Printing, stationery and postage | 145 | 60 |
| ---------------------------- | ---------------------------- | |
| 59,372 | 66,319 | |
| ---------------------------- | ---------------------------- | |
| Governance costs | ||
| Accountancy fees | 1,968 | 1,956 |
| Governance costs - depreciation | 5,528 | 5,894 |
| Governance costs - other finance costs | 27 | 27 |
| ----------------------- | ----------------------- | |
| 7,523 | 7,877 | |
| ----------------------- | ----------------------- | |
| Other expenditure | ||
| Loss on disposal of tangible fixed assets held for charity's own use | – | 75 |
| -------------- | -------------- | |
| ---------------------------- | ---------------------------- | |
| Total expenditure | 66,895 | 74,271 |
| ============================ | ============================ | |
| ---------------------------- | ---------------------------- | |
| Net expenditure | (5,948) | (3,941) |
| ============================ | ============================ |