REGISTERED COMPANY NI)MBEK. 0(1996 (England and Wales) IIEGISTERED CHARtTY NUMBER: 5(10644 Re ort of the Trustees an Audited Finaneial Statements fo 31 March 2025 for Ab eld Socie Limited JBC Accountants Lin]itsd statOry Auditor 3B Lo¢kbeed Court Preston Fami Stockton on Tees TS18 3SH
Abbe eld arlin Limited Contents of the Finaneial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Report of the IndependentAuditors 5 to 7 Statement of FAnaDcial Activities Bv41an¢e Sheet 9 to 10 Cash Flow Statement Notes to the Cash Flow Statement 12 1¥4otes ts> the Fknanclal Statements 13 to 20
rlin ton Socle Iimlted rt of the Trnstees for the Year End l March 2025 The tnte¢S who are also directors of the charity for the puty)ses of the Conwanies Act 2006, present their rqM)rt with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of ReMmended Pra¢ti¢e applicable to charities preparing their accounts in accordance with the Financial Rep)rting Stsndard applicable in the UK and Republic of treland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objertive5 and aims The Society is established for the public benefit to provid¢ aMmodatio (are and companionship foT lonely or frail, elderly people in accordallce WAth the aims and principles of the Abbeyfield Society Limited This activity falls wholly within hoskl housing activities as d¢fined in the Housing and Regenerdtion Act 28. Slgnfificant acllvllles The Society provides and wanages three houses for the elderly in DarlIngtO being Sit Charles StarnKr Howe. J.F.Latimer House and Eari Keelan House. The Socidvs PTincipal source of funding is the monthly charges receiveAI from residents for their room and m¢als. tncome recelved from re5id¢nts for room hire in the year to 31st March 2025 was £484,602; this Iw increased from the previous year (£463.121). Public benefit The Executive Committee hav¢ complied with the duty in Section 17{5) of the 2011 Charities Act to have due regard to guidance published by the Charities Commission (ie public benefit statement). Volunteers The T are all vohmlary. They att grate1 to the small number of volunteers who participate in residents social and other activities. ACHIEVEMENTS AIYD PERFORMANCE Charitable Vdetivi¢fies The Society Continues to provtde a high slandard of 8¢rvice to our residents despite the ever incrIng costs that we incur. The occupan¢y rate for 2025 was 840/0. Rents were increased to reflect the incre&se in the cost of livin& Despite increased pa011 and other costs th¢r¢ was a S1S for the year of £39,919 (2024 £ 57,907) before gains on investments The Trnstees review the financial results and wsilion p¢riodicalty and regularly nnitOr perf0rnwi against budgets. FINANCKAL REVIEW Financial positffion The Society h&g a healthy financial positi4)n at the year end and is set out on the Societys balanrK sheet on page 8. Cash at bank and in hand at 31st March 2025 is £137J20 (2024". £122.833) and this is available to m¢¢t any future costs that may aTiSe. The net income for the year was £51,342 (which includes £11,423 net gains on investments) (2024: £98,060) Our investhients are managed by two independent fiwd managers. There has been an increase ID the value of investsnents since 31 Match 2024 of £14266, however, Ibere have be¢n withdrawals from the funds of £109,455 to cover TefurbishnnÈ and improvemejjt costs. This has Tesulted in a fall in the value of investh]ents at 31 March 2025 to £307,548 (£95,189 decTrase). The In remain CODfid¢nt that the valuations will illcreas¢ in the medium to long t¢mi. The society's nd assets at 31 March 2025 gmoutrted to £2256,160 which ¢onwares to £2204.818 at the ¢nd of th¢ previous year. Reserves policy Reserves which includ¢ readily realisable Independentty rnanag inv&8lment portfolios ar¢ required to meet r&1uction in income due to unexpected under occupancy and Ullexpd leve]s of and any planned rqyair and refillbishment work in the futur¢. as well as any unplamied emergency repairs that may arise. The trustees consider that an adequate level of reserves as at 31st March 2025 would be £250,000. Page I
Ab eld ocie Liml Re rt of the Tru for the YeAr Ended 31 March 2025 FufuRE PLANS The Society will continue with the genernl refuEbislllnent and inrOVeMent to residents, n)oms and the bouses and surrounding ar in general. Goverlllng do¢unnt The Society is govern by its MemoraDdum of Association which establishes the objects and powers of the Society and its Articles of AssrtAatioo ljoth are dated 8th December 1970 and amended by a Special Resolution dated 20 July 2(X)5. The Society is a Company limited by guarantee, having no share capitaL as defined by the Companies Act 2006. It is also registered as a chartty with the Charity Commission. Re¢ruitmen6 appointment and induction of new trustees As set out io the Articles of Associatt0 the numlxr of tnteeS shall not be less than thre¢ and no more than eigbteen. New trustees are ap)inted &s set out in the Arti¢l&s of Associatio All Intstees are en¢outaged to nominate new memb¢rs. Ncw Trustees are given adequate training so that they are aware of their l¢gal obligations under charity and company law, the Charity Commi&8ion guidance on public benefiL content of the SIety's Mernorand and Articles of Associatio th¢ commitr and decision-making processes. Organisation81 strneture The board of knStees admIta5 the S(lety, wbith meets a minimum of quarterty. A secretsry and treasur have been appointed from members of the boatd.. A general manager is employed to facilita* the day to day nllming of the Society. Rlsk nllgement The trustees have a duty to identify and review the risks to which the Society is exEwd and to ensure that appropriate controls are in place to provide reasotvdble a&%urance against fiaud and error. The maill risk to the Soci¢ty is the possibility of luC¢d occupancy. Occupancy levels are moJ]itQT¢d continuously. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00996404 (England and Wales) Registered Charity number Registered office Sir Clwles Stam)er Hoe Danby Lodg¢ Ashcroft Road Darlington Co. Durham DL3 8PD Trnstees trs G Wiper (Secretary & Chair) Mr D L Steel (Treasurer) Ms C A Sobkowiak Mrs H I Scott OBE Mr P Robinson Mr A Teague Mts E Lyle Mr G Blenkinsop (appointed 1111212025) Company Secretary G Wiper Page 2
Abb arlln Sotie Lfinted ort of the Trustees for the Year Ended 31 MY4rch REFERENCE AND ADMINISTRATIVE DETAllS Audfitors JBC Accountants Limited Stthtory Auditor 3B Lockheed Court Preston Farni Stockton on T¢¢s TS18 3SH Sollcitors latimer Hinks 5-8 Priestg*e Darltngton County Dutham DLI INL Bankers Barclays Bank plc 27-31 High Row Darlington DL3 7QS STATEMENT OF TRUSTEESI RESPONSIBILrrIES The trustees (who a also the directors of Ablwfiejd (Darlington) Society Limited for the pUtse$ of company kaw) are responsible for prepaTiDg the Rq)ort of the TnLgtees and the financlal statenjents in accordance with applicable law and United Kingdom Accounting Standards OJniÉed Kingdom Generally Accepted Accounting Practice). CompaDy law requires the trustees to prepare flljancial statements for each financial year. Under that law, the tntstees have elected to prepare the financial statenmlts in aord¢ with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under MpanY law the trustees must not approve the fmancial statements unless they are Satisfi that they give a trne and fair view of the state of affai of the cFthtitable company and of th¢ incoming resourcas and application of resources, including the income and expenditure, of the charitable company for that period. tn preparing those financial statenmits, the tnLStees are required to select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP. njake judgements and estin)ates that are reasonable and prndent. prepare the financial statements on the going concern b&sis unless it is inappropriate to presume that the charitable Company WAII contlnue irt business. The trustees are respotLsible for keeping proper accounting records which disclose wAth reasonable accuracy at any tillke the financial position of tbe chaTitable ¢ompany and to enable them to ensure that the finaD¢ial statements comply with the Companies Act 2(K)6. They are also spOnSible for safeguarding the assets of the clwitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the tn]stees are aware: there is no relevant audit inftlrntion of which the charitable company's auditors are unaware. and the ISte&% have taken all steps that they ougbt to bave taken to make themselves aware of any relevant audit infornlation and to establish that the auditors are aware of that infomMtion. AUDrroRS Th¢ auditOTS. JBC Accountants LimiteiL will b¢ propos¢d for re-appointment at th¢ forthcoming Annual General Meeting. Page 3
Ab eld on cie Limited R ort of the Trustees for the Year Ended 31 March 2025 This report has been prepared in accordance with the sCIal provisions of Part 15 of the Companies Act 2(K)6 relating to small companies. Approved by order of the board of truste&8 on ..11.ats 2èZ.W... and signed on its behalf by: G Wiper- Secretary Page 4
rt of the Inde Id endent Auditors to on Limited Oplnlon We have audited th¢ fitwicial statcments of Abbeyfield {DaAington) Society Limited (the 'clwitable company,) for the year end 31 March 2025 which comprise the Statement of Financial A¢tivitie4 the Balance SheeL the Cash Flow Ststement aod notes to the fanCIal stateDl, including a surnm of Si]fiCallt acwuntmg policies. The financial reporting framework that has been appli in their prepardtion is applicable law and United Kingdom AcLx)unting Standards (United Kingdom Generally A(w>ted Accounting Prnctice). In our opimion the financial ststements: give a true and fair view of the state of the charitsble companys affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income 8nd expenditure, foi the year then end. have been pTh)perly prepared in accordance wtih Untted Kingdom Generally Accepted Accounting Practice" and bave be prepared in accordance with the requ1cnts of the Companics Act 21JO6. Basis for opinRon We conducta our audit in accordance with InteTnational Standards on Auditing (UK) OSAS (UK)) and applicable law. Our respN)DsibAIities under those standar(ts are furtlKr d¢sIbed in th¢ Auditors, responsibibties for the audit of the financial statements section of ow reporL We are independent of the charitable company in accordance with the ethical requirnents that are rel¢vant to our audit of the financial statements An the UK including Ihe FRC'S Ethical Standard, and we have fvlfilled our other ethical reSnsIbIlitieS in accorthce with these requirem. We believe that the audit evid¢nce we have obtained is sufficient and appropriak to provide a basis for our opinion. Condusions relating to going coneern Jn auditing the financial statements, we have concludeAI that the trustees, use of the going conLYrn basis of acLx)unling in the preparation of the financial statements is appropriate. B&8ed on the work we have rOMie4 we have not identified any material uncertainties relating to events or conditions thaL individually or collectively, n)ay c&8t sigoifiegnt doubt on the c11tble CoMpanS ability to wntAtiue as a going concern for a peri(Kl of at least Iwelve months from when the fmancial statements are authorised for issue. Our responsibilities and the rwibilities of the trusteas with respect to going concern a describ1 in the levant sections of this rerL Other Information The tnL8tees are responsible for the other inforn)ation. The other infom)ation compris¢s the infommtion included in the Annual Repor¢ other than the fjn8ncial statettlents arml our Rert of the Independent Auditors thereoll. Our opinion on the financial statements does not cover the o11 infom]ation an(L except to the extent otherwise explicitly ststed in our rqr¢ we thy not express any forni of a8ur Conclusion thereon. In connection with our audil of the financial statements, our responsibility is to Tead the other inforrnation an4 in doing so, consider whether the other inforn]ation is materially inconsistenl with tbe fm8ncial ststements or our knowledge obtained in the audit or otherwise appe5 to be materially misstate4L If we identify such material inconsistencies or apparent Jnaterial mIsstate¢llty we are required to detemiine whether this gives ris¢ to a mat¢rial misstatem¢nt in the financial statertlts themselves. If, b&8ed on the work we have Erfornie¢ we conclude that there is a material misstatement of this other inforn)atioD. we ar¢ r¢quired to rqx)rt that f&t. We have nothing to rep)rt in this regard Matters on whi¢h we are required to report by exception We have nothing to report in respect of the following JDatters whete the Charities (Accounts and Reports) Regulations 21)08 requires to report to you if, in our opinion: the inforn)ation given in the Report of the Tntee8 is inconsistent in any material respect with the financial statements. or the charitable company has not kept adequate accouthing records" or the financial statements are not in agreemenl with the accounting records and returns. or we have not Teceival all the inforntiOn and explanations we require for our audiL Page 5
Re ort of tbe Ind
Abbe
ndent Audltsrs to the Trnstees of
DarllD
ei
mi
Responsibllldes of trustees
As explained more fully in the Statement of Ttee$. Responsibilities, the trustees (who are also the directors of the
charitable company for the puryjses of conjpany law) arc rcspowble for the preparation of the financia] statements and
for being satisfied that they give a true and fair view, and for such internal control as the trustees dern)ine is necessary
to enable the preparation of finallcial ststements that are frcc from material miss&thenL wh¢th¢r due frdud or error.
In preparing the financial ststem¢nts, the trustees are Tesponsil)le for assessing the charitsble company's ability to
continue as a going concern. disclosing. &q applicabl4 Telatcd to going concern and using the going concem
of accounting unless the trust8 eilheT SDtcnd to liquidate the ckntable company or to Ce oat10J or have
no realisic alternative but to do so.
Our responsibilities for the #udit of the financial statements
We have been appointed &s auditOf5 under Scction 145 of the Clwities Act 2011 and report in accordance with the Act
and relevant regulations madc or having effect thereunder.
OL objectives are to obtain re&sonable assurance alx)ut Wheth the financial statements &8 a whole aye free from
ll)atrrial n)i&8tatemenL whether du¢ to fraud or emiT, and to issue a Kqrt of the Indep¢ndent Auditors that includes our
opinion. Reasonablc &8sufdnce is a higb level of assurdnce, but 18 not a guarantee that an audit conducted in accotdallce
with ISAS (UK) will always detect a material misstat¢ment when it extsts. Misstaten]ents can arise from fraud or error
and are considerAI mateTial if, individually or in the aggregate, they could re&sonably be experted to influence the
econotnic decisions of usus tsken on the basis of these financial statements.
The extentto which oUrpT(Ked are capable of detecting irregularities. including fraud is detailed b¢low:
trregularities, including fraud. instances of non-coJnpEiance with laws and regulations. We design procedures in lin¢
with our responsibilities, outlined above, to detect material misstatements in respect of iTregulaTities, including fraud.The
¢xtent to which ourpnx¢dures are capable of detecting iTregularities, including fraud is detsiled below:
- We identifi ar¢a5 of law and regulations that could reasonably be ¢xpethd to have a material effert on the fmancial
statements, frorn our knowledge of the Charity and discS1onS with tnee$.
- We had r¢gaTd to laws and regulations in areas that dtrectly affect the financial statementy including the rnles and
regulations set out in the Charities Act 2011. Companies Act 2(K)6 and FRS 102.
- We made equirieS of the trustees as to their knowledge of actual. suspected and alleged fraud and th¢ existence of
internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
- The engagcm¢nt partner ensured that the ¢ngagement team had the appropTiate competenc¢, capabilities and skills to
identify or recogTAise non-compliance.
- We address¢d th¢ risk of fraud through management bias and ov¢tride of controls, by testing awounting records.
including the appropriateness of journal entrie& to identify unusual transactioLs and assessed whether the judgements
made tn making accounting ¢51imates are indicative of wtential bias.
- We d1glled procedures which included but weTe not limited to agteeing financial statement disclosures to underlying
supporting documentation ond enquiring of th¢ tn as to actual and )tentIaL litigation and claims.
Our audit proce(hwes werc d¢signed to reSnd to risks of material rnisst2t¢nt in the financial statcmcnty recognising
that the risk of not detecting a mafrrial misstatement thie to fraud is higher that the Tisk of not detecting one r&8ulting
from error, as frdud may involve delibera* conclMent or through Coll100. There are ITJherent limitations in the audit
procedur¢s perfornjed and the ftjrther renwved llOD
rt of the Inde Abbe eld ndent Audltors to the Trustees of Limi Use of our report This report is madc solely to the charitable CoMpanS trustees, as a Ixjdy, in accordance with Part 4 of the Charitie5 {Accowits and Rets) Regulations 2(K18. Our audit work h8s undertaken so that we might slate to the charitable company's tTUSte£s those rnatteT5 we a required to 8tate to thcm in an auditors, rq)ort and for no other purEN)se. To the fullest extent by law, we do not accept or assume respObIlIty to anyone other thaD the chaTitable CoMY and the clwitable coMpanS trustees as a ixMJy. for our audAt wo, ftir this repoJ( or forthe opinions we have fornied. JEC kL[5LLythx1B LL& JBC Accountsnts Limited Stalutory Auditor Eligible to act as an auditw in tern)s of Section 1212 of the Companies Act 2006 3B tA)ckheed Cipurt Preston Fann Stockton on Tees TS18 3SH Date: Page 7
arlln Socie Lin)Ited ststement of Finalleigl Activities bratin IncoD)e E ndltllre Acco for tbe Year Ended 31 March 2025 nt 3113125 Total funds 3113124 Total funds Unrestricted funds Restri¢ted Endowment fllnds nd Notes COME AND ENDOWMENTS FROM Charitable •ctlvltles Social housing 490.939 600 491,539 470,915 ]nvestment IncMe 10,422 10,422 10,442 Total 501,361 600 501,961 481,357 EXPENDTTURE ON Raising fimds 6,1 12 6.112 6.182 Ch8rit&ble activltles Social housing 455.746 184 455,930 417,268 Total 461,858 184 462,042 423,450 Net gains on investments 11.423 11,423 40.153 NET INCOME 50,926 416 51,342 98,060 RECONCILIATION OF FUNDS Totsl funds brought forward 2,105,885 933 98,000 2204.818 2,106,758 TOTAL FUM)S CARRIED FORWARD 2,156,811 1,349 98,000 2.256,160 2,204,818 The notes forn] part of th&4e fmancial ststements Page 8
Abbe rliD Limited Balance Sheet 31 March 202S 3113125 Total funds 3113124 Total nds Unrestrieted fuDds Restricted Endowment fvnds fund otes FIXED ASSETS Tallgible assets Investments li 12 1,730328 307,548 300 98,000 1,828,628 307,548 1,732,309 402,737 2,037,876 300 98,000 2,136,176 2,135,046 CURREiYf ASSETS Debtors Cash at bank and in hand 13 36,016 136,271 36.016 137,320 22.091 122,833 1,049 172,287 1,049 173,336 144,924 Amounts falling thie WAthin one 14 (53,352) (53,352) (75,152) NET CURRENT ASSETS 118,935 1,049 119,984 69,772 TOTALASSETS LESS CURRENF LIABILrrIES 2,156,811 lJ49 98,IXIO 2,256,160 2,204,818 ET ASSETS 2,156,811 1,349 98,0 2256,160 2,204,818 FUNDS Unrestricted knds Restricted funds Endowment fL(L$ 15 2,156,811 1,349 98,(KK) 2,105,885 933 98,000 TOTALFUNDS 2,256.160 2,204,818 The charitsble cornpany is cntitled to exeinption from audit under Section 477 of the Companies Act 20[ for the year ended 31 March 2025. The members have not deposited notice. pursuant to S¢¢tton 476 of the Companies Act 2006 requiring an audit of these finan¢ial statements. The tti]stees acknowledge Iheir r[KIll8]bilIties for (a) ensuring that the ¢haritabl¢ company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2(M)6 and preparing financial statements which give a ttu¢ and fair view of the state of affairs of the charitsbl¢ Company as at the end of each financial year and of its surplus or deficit for each finaDcÈal year ID accordance with the requirements of S¢ctions 394 and 395 and which othenvise comply with the requirements of th¢ Cornpanies Act 21KJ6 relating to financial statementy so far as app]icable to the charitable company. (b) These financial statements have been audited under the requiRmetts of Section 145 of the Clwitie8 Act 2011. The notes fomi part of these financial statements Page 9 continued...
Abbe Lin)ited Balance SIt- eolltinu 25 These financial statements have been prepared in a¢cor{kne with Ihe provisions applicable to charitable companies subject to the small companies regime. The finan'l statements were approved by the Board of TnJstea8 and authorised for issue on and were SAed on its behalf by: rs G Wiper- Trustee D L Steel - Trustse The notes forni part of these financial statements Page 10
Abb Id IAmited Cash Flow Statellnt r th Year Ended 31 March 2025 3113125 3113124 Cash flows from opernthig actlvldes Cash generated from operations 11,379 36,837 Net cash provided by operating activities 11379 36,837 Cash floTrv5 from investing activities Purchase of tangible red wets Sale of fixed a&set inv&stments Jnt¢r¢st received (107,813) 109,455 1,466 (160,390) 100,000 798 Net cashprovided by/(used io) investAng activAties 3,108 (59,592) Change in cash and cash equivthnts in the reporting period Cash YdDd ¢h equivalents at the beginning of the reporting period 14,487 (22,755) 122,833 145,588 Cash Ydnd cash equivalents at the end of the reporling perAod 137J20 122.833 The notes fonD part of these financial ststements Page 11
Ab arlin on Socfi Limi Notss to the Cash Flow Statement for the Year Ended 31 March 21)25 REcONCTATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcrtvrrtEs 3113125 3113124 Net income for the rep)rting period (a5 per the Statement of FlnaD¢ial Activities) Adjustments for: Depreciation charges Gain on investments Interest received Net invebtment income Increase in dd)tors Dectwe in credito 51342 98,060 11,494 (11,423) (1,466) (2,843) (13.925) (21.8(X)) 12.231 (40,153) (798) (3,461) (6.313) (22.729) Net cash provided by operatioDS 11,379 36.837 ANALYSIS OF CHANGES IN NET FUNDS At 114124 Cash flow At 3113125 Net sh Cash at bank and in hand 122,833 14,487 137.320 121833 14,487 137J20 Totsl 122,833 14,487 137,320 The notes forni part of these financial ststements Page 12
Abb eld arlln Notes to the Ftnancial Stydtements for the Year Ended 31 Mch 2025 ACCOUNrtNG POLICIES Basis of prep8ring the financial statements The fmancial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the CIltieS SORP (FRS 102) 'Ac¢ounting and Reporting by Ckwities: Statrment of Rccommended Practice applicable to charities prepaTing their accounts in accordan¢¢ with th¢ Financial RqK)rting Standard applicable in the UK and Iiepublic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Stiindard applicable in the UK and Republic of Ireland, and Ihe Companies Act 2(X)6. The financial statements have been pryared under the historical Cost convention, with the exception of investjnents which ar¢ Includ at nwket value, as rnodified by the revaluation of certain assets. Income All income is recognised in the Statement of FiDancial Activities once thc ch2rtty h&8 entitlement to the it is prijbable that the iDcome will be received and the amount can be nieasured LIably. Expendlture Expenditure is reColsed once there is a legal or construrtive obligation to make a paneTrt to a third paty, it is probable that settlement will b¢ required and the amowit of the obl10 can be tlleasure4 reliabty. Exp¢nditur¢ is ¢1&&8ified under thc following headings.. - rdising funds comwise the costs of managing the investmeots h¢ld by th¢ Society, - expenditure on charitable artivities include the w5ts directly related to the provision of Social Housing and their related support costs. The SIety is not r¢gist¢r¢d for VAT. ICcOyerdb1e VAT is charg&1 as a cost against the activity for which the Allocation and Spportionment of ¢05ts Support costs are those fimctions that l$t the work of the s(iety but do not directly undertake the charitable activity. These $ts include managemen¢ fitmnce, payroll and governance Costs which supprt the provision of Social Housing. Tall*le rued assets Depreciation is provided at the fttrllowing aDJ]ual rntes in order to WTite off each asset over its estimated usethl Fre£hold propety Fixtures fittings & quipm¢nt not pmvided 250/0 on cost and 20% on cost HousAng land and properties are stated * cost or valuation. The cost of properties is their purchasc pric¢ together with incidental costs of acquisition. Expenditu on housing properti¢s. which results in an enbattCenLt to the ttonomic benefits arising from the propertie or is considered to be a replacement or rcstoration of an item is capitaliseiL No depreciation ig charged on housing pmperties because they are maintasned in a state of repair such that thc estin]ated residual valuc of land 2nd buildings is noÉ less than their net book value. The allnual Chge wou]d theOre be imnmterial. Taxation The charity is exempt from corpordtion t&x on its chatitable activitie Fund accounting Unrestricled funds can be US in accordance with the thItable objertiv¢s at the discretion of the trustees. Reslricted cau only be used for particular restTiCted puw WAthin the objects of the chaTity. Restridions arise when specified by the donor orwhen fimds are rdis¢d forparticu]ar restricted purposes. Further explanation of the nature and pujpose of each fund is included in the notes to the financial statements. Page 13 continu...
Ab ar Socie Limlt Notes to the FiDgncial Statements- continued or e Year Ended 31 March 2025 ACCOUNnNG POLICIES- continued Pension eosts and other post-retlrement bener The charltsble company op¢rat¢5 a defin contiibution pension scheme. Contributions payable to th¢ charitable compan5 pension scheffle are cbarged to the Stst¢ment of Financial Activities in the pcrlod to which they relate. Investments Invesknents are a forni of basic financial inslnrnent and are initially Tecogniqed at their Izansaction value and subsequently rneasured at fair value as at the balance sheet date using the closing quoted market PTice.The statement of funCIal activities incllldes the net gains and losses arlsing on revaluation and disposals during the year. The SIKiety does not acquire put option4 derivatives or other complex financial inslnrnents. All gains and losscs are tsken to the Ststement of Financial Activities as they *ise. Realised gains and losses on inveslmcnts are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the fttst of the financial year. Unrealised gains and losses are calculated as the difference Etheen the fair value at the year end and their caIng value. Realised and unrealised gaitis and losses are wmbined in the StatenTrt of Financial Activities. The main forni of financial risk faced by the kniety is that of volatility in equity matkets and Investnlt Alaets due to wits economic conditions, the attitude of investors to inveslment risk and changes in sentiment concerning equities and within particular sectors and sub sectors. Going Concern Th¢ trSlee5 consider that there are no maknial unccrtainties about the charitys abiltty to continlle &8 a goiDg oncern. Funds held at the year-end are considered sufficiart for the on-going operation of the charity. VESTMEKf JNCOM 3113n5 3113124 Dividends and intsrest on equiti&s and securities Deposit account interest 8,956 798 10,422 10,442 llYCOME FROM CHAIUTABLE AcfiviTIES 3113125 3113124 Aetivity Social housing Social ho8]ng Social housing al housing Residents, RM Charges Other income Grants Employment allowance 484,602 1,337 600 463,121 800 491,539 470,915 Page 14 ontinued...
Abbe eld arlln Limited to the FinAn¢i*l Sthtsments - continued or r Ended 31 Mareh 2025 RAlStNG FUNDS Investment management eosts 3113125 3113124 Portfolio management 6,112 6,182 CHARrrABLE ACTMTIES COSTS Direct Costs (see note 6) Support eosts (see note 7) Totals Social housing 349,140 106,790 455,930 DIRECT COSTS OF CHAIUTABLE ACTIvITs 3113125 3113124 Staff costs 161.886 10,769 15,580 48,482 5,335 32,776 29,711 11,003 18,288 3,816 11.494 147,032 10,791 14,842 42,471 4,707 34,194 31,349 10,265 17,143 3.744 12231 Light and heat Telephone Food and other hOoId costs Repairs and Maintenance Council Warden Service Gardening Hire of plant and machinery Depreciation 349,140 328,769 SUPPORT COSTS GoverDgnce eosts Management Totals Social housing 104240 2,550 106,790 Support costs, included in the aLN)ve, are as follows: 3113125 Sotfial bousing 3113124 Total aetiTrryties 73,830 68,189 143 2,147 7,157 8,513 2,350 Marketing costs SundTies Subscriptions and Affiliation Fees Professional fees Auditors, remunerntion 2,906 19,156 2,550 106,790 88.499 Page 15 ontinued...
Abb eld arllD Socie Limited Notes to the Financial Statements - continued for the Year ED 31 March 2025 NET INCOMEI(EXPENDITURE) Net income/(expcndItu) is stated after ¢hargingl(crediting): 3113125 3113t24 Audiiorn, wnuneration Depreciation- owned ets 2,550 11,494 2,350 12,232 TRUSTEES, REMUNERATION AND BENEFITS There were no Intees, renwnerdtion or other benefits for the year ended 31 March 2025 nor for the year ¢nded 31 March 2024. Trustees, expell5 There were no trustees, expenses paid for the year ended 31 March 2025 nor for the ¢lld 31 March 2024. io. STAFF cosrs 3113125 3113124 wag and salaTies Social secuTity costs Other pension Costs 209245 16.103 10.368 191,668 14.061 9,492 235,716 215,221 The average monthly number of employees duTing the year was as follows: 3113125 li 3113124 li TotaL staff No employees received emoluments in excess of £60,IK)O. Page 16
bb eld arliti Soele Notes to the Finan ial Statements- continued for the Year EDd h 2025 ii. TANGtBLE FIXED ASSETS Fixtures fittiDgs & equipment Freehold property Totsls COST At l April 2024 Additions DIssaIS 1,705503 80.416 235,521 27,397 (6,444) 1,941,024 107,813 (6,444) At 31 March 2025 1,785,919 256,474 2,042,393 DEPRECIATION At l April 2024 Charge for year Elinjinated on disposal 208,715 11,494 (6,444) 208.715 11,494 (6,444) At 31 March 2025 213,765 213,765 NET BOOK VALUE At 31 March 2025 1,785,919 42,709 1,828,628 At 31 March 2024 1,705,503 26,806 1,732,309 Sir Charles starnr House became an asset of the Society as a tesult of a bequest from IAdy Starnier in January 1980. It is included in the accounts at its probate value of £98,(KKJ pl8 additioThs at cosL J. F. Latimer House was financed by a bequest from Miss Muriel Latimer and is included at cost in the accounts. Eari Keelan Hose financed by the residue of the bequest from Miss Murial Latin]er, together with those from Thom&8 Earl and Miss Keelan and is also included at cost. 12. FIXED ASSET INVESTMENTS 2025 2024 Value of investments at l A71 2024 Divid¢nd and interest received InvestrneDt portfolio management charges Withdrawals duTing the ycar Movement in value during year 402,737 8,956 (6,112) (109,455) 11,423 459,122 (6.182) (iOO.(M)O) 40,153 Value of investnients at 31 March 2025 307,548 402.737 Listed investments 298,352 390,330 Cash held as part of the inv¢stsD¢nt w)rtfolio 9,196 12,407 307,548 402,737 Pw17 continued..
Ab 8rlin Llmfited Notes to the Financi tatements- contlnued for the Year Ended 31 March 2 13. DEBTORS: AMOUNTS FALLING DUE wfniIN OIYE YEAR 3113125 3113124 Other debtors Prepayments and accrue4J income 17J08 18.708 17.645 36,016 22.091 14. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113125 3113124 Trade creditors Social security and oth¢r taxes Other creditors Accruals and def¢ed inrome 43,541 3.086 1252 5,473 52509 3,322 4,033 15.288 53J52 75,152 15. MOVEMENT IN FUNDS Net Movement ID funds At 114ll4 At 3113125 Unrestrictsl funds Revenue Reserye Cyclical repairs [erve Gene Charilable Reserve 2.018J13 14,000 73572 50,926 2.069.239 14,000 73.572 2,105,885 50.926 2,156,811 Restricted funds Morrisons Garden Grant Ward Councillors 141 792 (34) 450 107 1,242 933 416 1,349 Endovrniellt funds Endowmcnt Reserve 98,(M)O 98,(XX) TOTAL Fi]NDS 2.204,818 51.342 2,256,160 Page 18 continued...
Abb eld arlln Limited F4otss to tbe Financial Statements- continued for the Year Ended 31 March 2025 15. MOVEMENT IN FUNDS. eontlnued Net movement in fLmds, included in the above are as follows: Incoming Resources Galns Ydnd expeDded losses Movement Jn funds Unrestricted funds Revenue Reserv¢ 501,361 (461,858) 11.423 50,926 Restrlcted fvnds Morrisons Garden Grant Ward Councillors (34) (150) {34) 450 600 (184) 416 TOTAL FUNDS 501,961 (462,042) 11,423 51 J42 Compargtives for movement in funds Net movement At 114123 At 31fJ124 Unrestricted fullds Rev¢nv¢ R¢s¢rve Cyclical repairs reserve General Charitable Reserye 1,920,470 14,0(10 73,572 97,843 2.018,313 14,0 73572 2,008,042 97.843 2,105.885 Restricted funds MoTTisons Garden Grant Ward Coun¢illors 216 500 (75) 292 141 792 716 217 933 Endowment fDnds End0ent Rcscrvc 98.OLK) 98,(KK) TOTAL FUNDS 2,106,758 98,0(A) 2,204,818 Page 19 Continu..
Abhe eld arlin Sotie LSmfited Notes to the Financial S*atements- contiMDed for the Year nded 31 M4rch 2025 15. MOVEMENT IN FUNDS. eontlnued Comparative n¢t mov¢m¢nt in fund4 included in the above at¢ as follows: Ineoming Resourees resources expended Ggins and losses Movement In funds Unrestrlcted funds R¢vcnu¢ Reserve 480,557 (422,867) 40.153 97,843 Restricted funds Morrisons Garden Grant Ward Councillors (75) (508) (75) 292 81X) (583) 217 TOTAL FUNDS 481,357 (423.450) 40.153 98,( Amounts have be¢n s¢t aside for futw¢ cyclical and DJOr rq)airs that may be incurr1 in the m¢dium to long temi. This is based on the Societys obligation to cany out WO on a continuing b&sis on its properties and planned programmes of work that have b¢¢n put inlo pla¢¢. Th¢ G¢neral Charitable Reserve rq)resents funds received wch have been d¢sAgnated for a spccific pury)ose. The Endowm¢nt rescrve rcpr¢s¢nts th¢ value of Sir Charles Stamier House gifted to the Socicty in 1980 (see note I l). I& CAPITAL COMMTTMENTS 3113125 3113124 Contracted but not provided for in the financial statements 28,166 17. RELATED PARTY DISCLOSURES There were no related party transactio% forthe year ended 31 March 2025. I& ULTIMATE coNfROLLTNG PARTY The Executive Committee has uitAn]ate control over the Society. 19. STATifroRY INFORMATION Abiwfield (Darlington) Socxety Limited is a company limited by guaraDtee and b&s no slwe capital. There are sevcn mmbers (2023". Dine), whose liability is limited to £1. in the event of winding w). the Society is registe1 in England and Wales and its registered number and office address can be found within the 'Reference and Administrative Detsi15' of the Report of the Tnjstees. Page 20