COMPANY REGISTRATION NUMBER: 00920406 CHARITY REGISTRATION NUMBER: 275458
ABBEYFIELD TEWKESBURY SOCIETY LIMITED Company Limited by Guarantee
Financial Statements 30th September 2022
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 2022
| 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 | 17 |
Page 1
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30th September 2022
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 2022.
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 2022
Objectives and activities
The principal 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.
We have an employed housekeeper, 4 days per week, and assistants 3 days per week. Relief staff cover holidays etc, with volunteers and a part-time administrator all helping to run the house efficiently. We have an active committee and hold well attended meetings every 4 - 6 weeks. Safe running of the house and health and safety matters are discussed at these meetings. The administrator deals with staff payments, provision and maintenance of standards and health and safety concerns, as well as residential enquiries. One of the committee members is also our qualified Health, Safety and Fire officer.
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 of the society, affiliated to the national Abbeyfield Society of St Albans.
Achievements and performance
We appointed a new housekeeper as our previous housekeeper resigned after a bout of ill health. She is doing extremely well and with the help of our assistants and occasional relief staff are keeping the residents well looked after, well fed and happy. Employed staff are available between 9am and 6pm daily.
In 2022 we decided to stop using the 2 letting rooms on the top (third) floor. This was for various reasons. Both needed updating, the stair lift to this floor needed attention and we were concerned that any resident might be unable to exit this floor in an acceptable time during an emergency. We currently have 4 residents and this enables us to be financially viable. We only have 1 vacant room at present.
Financial review
Financially we are secure at the present time, but as with most residential and care homes, this is very dependent on retaining our present number of occupants. Our housekeeper is very responsible with money and her partner helps out on a volunteer basis. We have also gained a volunteer gardener who will begin work in February.
We have a few maintenance issues, mostly due to the age of the property. These are on our 'to do' list. Purchases of furniture made recently have improved the welcoming atmosphere in our communal rooms.
Page 3
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30th September 2022
Plans for future periods
Tewkesbury is an independent affiliated society member. We continue to provide a very warm welcoming environment situated in the heart of Tewkesbury. More people are becoming aware of who and what we are. Our house is situated next door to Tewkesbury Abbey, so there is often some confusion with our name. We hope to be able to fill our 1 remaining room in the near future now that people are returning to normality after the pandemic.
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 7th March 2023 and signed on behalf of the board of trustees by:
DAWN 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 2022
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 2022.
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 Act 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
Page 5
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30th September 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | – | 677 | 677 | 1,277 |
| Charitable activities | 6 | 70,456 | – | 70,456 | 59,670 |
| ---------------------------- | -------------- | ---------------------------- | ---------------------------- | ||
| Total income | 70,456 | 677 | 71,133 | 60,947 | |
| ============================ | ============== | ============================ | ============================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 70,768 | 1,742 | 72,510 | 66,895 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Total expenditure | 70,768 | 1,742 | 72,510 | 66,895 | |
| ============================ | ======================= | ============================ | ============================ | ||
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | ||
| Net expenditure and net movement | in | ||||
| funds | (312) | (1,065) | (1,377) | (5,948) | |
| ============================ | ======================= | ============================ | ============================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 68,237 | 26,768 | 95,005 | 100,953 | |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | ||
| Total funds carried forward | 67,925 | 25,703 | 93,628 | 95,005 | |
| ============================ | ============================ | ============================ | ================================ |
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 16 form part of these financial statements.
Page 6
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Position
30th September 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 13 | 76,105 | 80,467 | |
| Current assets | ||||
| Debtors | 14 | 2,695 | 2,401 | |
| Cash at bank and in hand | 35,556 | 37,574 | ||
| ---------------------------- | ---------------------------- | |||
| 38,251 | 39,975 | |||
| Creditors: amounts falling due within one year | 15 | 3,136 | 7,168 | |
| ---------------------------- | ---------------------------- | |||
| Net current assets | 35,115 | 32,807 | ||
| -------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 111,220 | 113,274 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 16 | 17,592 | 18,269 | |
| -------------------------------- | -------------------------------- | |||
| Net assets | 93,628 | 95,005 | ||
| ================================ | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 25,703 | 26,257 | ||
| Unrestricted funds | 67,925 | 68,748 | ||
| ---------------------------- | ---------------------------- | |||
| Total charity funds | 20 | 93,628 | 95,005 | |
| ============================ | ============================ |
For the year ending 30th September 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The statement of financial position continues on the following page.
The notes on pages 8 to 16 form part of these financial statements.
Page 7
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Statement of Financial Position (continued)
30th September 2022
These financial statements were approved by the board of trustees and authorised for issue on 7th March 2023, and are signed on behalf of the board by:
D E HUNT Trustee
The notes on pages 8 to 16 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 2022
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 2022
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 2022
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 2022
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 2022.
Page 12
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2022
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
| Restricted | Total Funds | Restricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Donations | – | – | 600 | 600 |
| Grants | ||||
| Grants released during year | 677 | 677 | 677 | 677 |
| -------------- | -------------- | ----------------------- | ----------------------- | |
| 677 | 677 | 1,277 | 1,277 | |
| ============== | ============== | ======================= | ======================= |
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Rental income | 142,193 | 142,193 | 129,755 | 129,755 |
| Less: losses from voids | (71,737) | (71,737) |
(70,085) | (70,085) |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 70,456 | 70,456 | 59,670 | 59,670 | |
| ================================ | ================================ | ================================ | ================================ |
7. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Social housing provision | 65,310 | – | 65,310 |
| Support costs | 5,458 | 1,742 | 7,200 |
| ---------------------------- | ----------------------- | ---------------------------- | |
| 70,768 | 1,742 | 72,510 | |
| ============================ | ======================= | ============================ | |
| 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 | |
| ============================ | ======================= | ============================ |
Page 13
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2022
8. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Social housing provision | 65,310 | – | 65,310 | 59,372 |
| Governance costs | – | 7,200 | 7,200 | 7,523 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| 65,310 | 7,200 | 72,510 | 66,895 | |
| ============================ | ======================= | ============================ | ============================ | |
| Net expenditure | ||||
| Net expenditure is stated after charging/(crediting): | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 5,220 | 5,528 | ||
| ======================= | ======================= | |||
| Independent examination fees | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,004 | 2,004 | ||
| ======================= | ======================= |
9. Net expenditure
10. Independent examination fees
11. Staff costs
The average head count of employees during the year was 1 (2021: 1). The average number of full-time equivalent employees during the year is analysed as follows:
Housekeepers
2022 2021 No. No. 1 1 ============== ==============
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
12. 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.
Page 14
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2022
13. Tangible fixed assets
| Land and | Fixtures and | Property | |||
|---|---|---|---|---|---|
| buildings | fittings | Impts | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1st October 2021 | 64,437 | 95,718 | 10,314 | 170,469 | |
| Additions | – | 858 | – | 858 | |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | ||
| At 30th September 2022 | 64,437 | 96,576 | 10,314 | 171,327 | |
| ============================ | ============================ | ============================ | ================================ | ||
| Depreciation | |||||
| At 1st October 2021 | 26,255 | 59,421 | 4,326 | 90,002 | |
| Charge for the year | 1,289 | 3,725 | 206 | 5,220 | |
| ---------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | ||
| At 30th September 2022 | 27,544 | 63,146 | 4,532 | 95,222 | |
| ============================ | ============================ | ============================ | ================================ | ||
| Carrying amount | |||||
| At 30th September 2022 | 36,893 | 33,430 | 5,782 | 76,105 | |
| ============================ | ============================ | ============================ | ================================ | ||
| At 30th September 2021 | 38,182 | 36,297 | 5,988 | 80,467 | |
| ============================ | ============================ | ============================ | ================================ | ||
| 14. | Debtors | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 948 | 881 | |||
| Social security and other taxes | 1,747 | 1,520 | |||
| ----------------------- | ----------------------- | ||||
| 2,695 | 2,401 | ||||
| ======================= | ======================= | ||||
| 15. | Creditors: amounts falling due within one year | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Accruals and deferred income | 3,126 | 7,092 | |||
| Pension control | 10 | 76 | |||
| ----------------------- | ----------------------- | ||||
| 3,136 | 7,168 | ||||
| ======================= | ======================= | ||||
| 16. | Creditors: amounts falling due after more than one | year | |||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Deferred income | 17,592 | 18,269 | |||
| ============================ | ============================ | ||||
| 17. | Deferred income | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| At 1st October 2021 | 19,623 | 19,623 | |||
| Amount released to income | (2,031) | (1,354) | |||
| ---------------------------- | ---------------------------- | ||||
| At 30th September 2022 | 17,592 | 18,269 | |||
| ============================ | ============================ |
Page 15
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2022
18. 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 £385 (2021: £400).
19. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in creditors: | ||
| Deferred government grants due after more than one year | 17,592 | 18,269 |
| ============================ | ============================ |
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 1 Oct 21 | Income | ExpenditureAt | 30 Sep 22 | |
| £ | £ | £ | £ | |
| General funds | 68,237 | 70,456 | (70,768) | 67,925 |
| ============================ | ============================ | ============================ | ============================ | |
| At 1 Oct 20 | Income | Expenditure At | 30 Sep 21 | |
| £ | £ | £ | £ | |
| General funds | 74,185 | 59,670 | (65,107) | 68,748 |
| ============================ | ============================ | ============================ | ============================ | |
| Restricted funds | ||||
| At 1 Oct 21 | Income | ExpenditureAt | 30 Sep 22 | |
| £ | £ | £ | £ | |
| Property improvement fund | 26,768 | 677 | (1,742) | 25,703 |
| ---------------------------- | -------------- | ----------------------- | ---------------------------- | |
| 26,768 | 677 | (1,742) | 25,703 | |
| ============================ | ============== | ======================= | ============================ | |
| At 1 Oct 20 | Income | Expenditure At | 30 Sep 21 | |
| £ | £ | £ | £ | |
| Property improvement fund | 26,768 | 1,277 | (1,738) | 26,307 |
| Other funds | – | – | (50) | (50) |
| ---------------------------- | ----------------------- | ----------------------- | ---------------------------- | |
| 26,768 | 1,277 | (1,788) | 26,257 | |
| ============================ | ======================= | ======================= | ============================ |
The restricted fund is a property improvement fund established in 2000 to provide for the improvement and modernisation of the housing facilities.
Page 16
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30th September 2022
21. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 32,810 | 43,295 | 76,105 |
| Current assets | 38,251 | – | 38,251 |
| Creditors less than 1 year | (3,136) | – | (3,136) |
| Creditors greater than 1 year | – | (17,592) | (17,592) |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| Net assets | 67,925 | 25,703 | 93,628 |
| ============================ | ============================ | ============================ | |
| 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 |
| ============================ | ============================ | ============================ |
22. Related parties
No transactions with related parties were undertaken such as are required to be disclosed under FRS 10
Page 17
ABBEYFIELD TEWKESBURY SOCIETY LIMITED
Company Limited by Guarantee
Management Information
Year ended 30th September 2022
The following pages do not form part of the financial statements.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Donations | – | 600 |
| Grants receivable | 677 | 677 |
| -------------- | ----------------------- | |
| 677 | 1,277 | |
| -------------- | ----------------------- | |
| Charitable activities | ||
| Rental income | 142,193 | 129,755 |
| Less: losses from voids | (71,737) | (70,085) |
| -------------------------------- | -------------------------------- | |
| 70,456 | 59,670 | |
| -------------------------------- | -------------------------------- | |
| ---------------------------- | ---------------------------- | |
| Total income | 71,133 | 60,947 |
| ============================ | ============================ | |
| Expenditure | ||
| Expenditure on charitable activities | ||
| Purchases | 4,888 | 4,615 |
| Wages and salaries | 32,847 | 28,651 |
| Pension costs | 385 | 400 |
| Subcontract | 7,185 | 7,967 |
| Rates and water | 4,900 | 4,546 |
| Light and heat | 5,207 | 5,121 |
| Repairs and maintenance | 3,199 | 2,715 |
| Insurance | 2,287 | 2,094 |
| Travel and subsistence | 16 | – |
| Membership fees | 3,098 | 1,179 |
| Telephone | 486 | 1,228 |
| Sundry expenses | 378 | 526 |
| Laundry and cleaning | 250 | 212 |
| Advertising | 72 | - |
| Printing stationery and postage | 112 | 145 |
| Accountancy fees | 1,980 | 1,968 |
| Depreciation | 5,220 | 5,528 |
| ---------------------------- | ---------------------------- | |
| Total expenditure | 72,510 | 66,895 |
| ---------------------------- | ---------------------------- | |
| ---------------------------- | ---------------------------- | |
| Net expenditure | (1,377) | (5,948) |
| ============================ | ============================ |