THE ABBEYFIELD BELFAST SOCIETY LIMITED
(company limited by guarantee)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Charity Registration Number.. 103425
Company Registration Number.. N1004632

THE ABBEYFIELD BELFAST SOCIEfY LIMrrED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
PAGE
Refe￿nce and Administrative Details
Directors, Report
Directors, Responsibilities Statement
Indep8ndent Auditor's Report
7-10
Consolidated Statement of Financial Activities
11
Charity Statement of Financial Activities
12
Consolidated Statement of Financial Position
13
Charity Ststement of Financial Position
14
Consolidated Cash Flow Statement
15
Notes to the Financial Statements
16-28

THE ABBEYFIELD BELFAST SOCIEfY LIPJiITED
{COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Charity name
The Abbeyfield Belfast Society Limited
Charity rnglstration
Charity Commission for Northern Ireland.. 103425
HMRC: XN47884
Company registration number
N1004632
Directors
Mr TA Clements (Chair)
Lady C Eames (Deputy Chair)
Ms KA Shearer Resigned 25 April 2025
Mrs A Jackson Resigned 25 April 2025
Mr AR Alexander
Mrs CA Olver
Mrs JA Mccabe
Ms GR Traub
Mr E Sproule
Ms S Hill Appointed 29 July 2024
Mr C Buick Appointed 27 January 2025
Ms J Adams (Treasurer) Appointed 27 January 2025
Principal office of the Society and registered office
Harberton Hall
23a Harberton Park
Belfast
BT9 6WX
Bankers
Barclays Bank
Donegall House
7 Oonegall House Sq North
Belfast
BT15GB
Danske Bank
Donegall Square West
Belfast
BT16LT
Independent Auditors
HM Chartered Accountsnts
6th Floor, East Tower
Lanyon Plaza
8 Lanyon Place
Belfast
BT13LP
Solicitors
Cleaver Fulton Rankin
50 Bedford Street
Belfast
BT2 7FW

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
The Directors, who are also the trustees under the provisions of the Companies Act 2006, present their report and
financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 and
comply with the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with The Financial Reporting Standard
Applicable in the UK and Republic of Ireland (FRS102)" (as amended for accounting periods commencing from 1
January 2019).
Objectives and Actlvlties
The company's principal activity continues to be the provision of supported sheltered accommodation for older
people and the Society is guided in this undertaking by the shared beliefs of the Abbeyfield movement, that..
Older people have an important role to play amongst their families, friends and in their community;
Overcoming loneliness and insecurity can make all the difference to an older person's wellbeing and
quality of life-, and
Local people have an essential part to play in helping older people in their community.
The Abbeyfield way of life seeks to provide a balance of privacy and support which can be ideal for many older
people who no longer feel happy living alone. In Abbeyfield, older people can remain independent and active,
knowing that they have the support of house staff and a network of local volunteers.
Public Benefit
The Directors are committed to furthering the Society's objectives by providing high quality support to the
residents who occupy the Society's houses. In doing so, the Directors have due regard to the published guidance
on public benefit and review the extent of the Society's income and reseNes, the cost of the facilities it provides
and the ability of residents to make payments from their own resources.
The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the
company should undertake.
Strategic Report
The description under the headings "Achievements and Performance" and "Financial Review" meet the company
law requirements for the Directors to present a strategic report.
Achievements and Performance
The Society has continued to provide supported sheltered accommodation for older people, in accordance with its
aims and objectives. The occupation rate, over all houses, was 95.5'/0 {2024.' 960/0).
Within the context of the public benefit requirement, during the year under review, a number of the Society,
resident5 were funded, in part, other than through their own resources.
The Society is subject to the oversight of the Northern Ireland Housing Executive 'Supporting People, programme,
which provides financial support to qualifying residents of the Society.
Financial Revlew
The Directors report net income for the year of £164,603 (2024.. £607,984). This is after a depreciation charge of
£245,071 (2024: £234,045), and legacies and donations received of £38,157 (2024.. £6,252}.

THE ABBEYFIELD BELFAST SOCIETY LIMITED
{COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
(CONT'D)
Financlal Review (continued)
The Society's principal funding source is income from residents, and this is supplemented by donations and
legacies, which are received from time to time.
All of the Society's operational expenditure is incurred in the provision of accommodation and services for
residents and in the promotion of the Society.
Reserves Pollcy
The Society's policy is to hold and designate an amount of general resenies, in the form of cash at bank,
equivalent to approximately four months forecast net expenditure, having regard to an anticipated level of income.
Reserves in excess of this amount are treated as designated for the upgrading and renewal of the Society's
houses and adding to its housing stock when appropriate.
The policy relating to reserves is reviewed annually.
On an ongoing basis the Directors aim to generate a revenue surplus on operations which will alSow for the
augmentation of the company's designated reserves.
Risk Management
The Directors have assessed the major risks to which the Society is exposed, in particular those relating to the
operations and finances of the company. The Directors are satisfied that systems are in place to mitigate
exposure to major risks. The Society manages and reviews risk through a risk management strategy and the
maintenance of a risk register.
The year under revlew
In the year under review all the Society's accommodation was fully operational and achieved a high occupancy
rate of 95.5 % . This outcome was supportive of the strategy of update and renewal which has been adopted by the
Society and is a tribute to the efforts of staff and volunteers in applying that strategy.
Plans for Future Perlod8
The Society will continue to seek to provide high quality support for residents in all its Houses. It will also plan for
the upgrade and regeneration of the Society's housing stock and the sep4ices provided to meet the requirements
of future generations of residents.
Structure, Governance and Management
The Society is a company limited by guarantee and does not have a share capital. It is govemed by a
Memorandum and Articles of Association and the liability of each member is limited to an amount not exceeding
£1.
At the date of this report the Board of Directors consists of ten members, being a Chair, Deputy Chair, and
Honorary Treasurer (collectively known as the Office Bearers) and seven others. Four members of the Board of
Director5 are male and six are female. The Society has sixty-seven employees.

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPOR
(CONT'D)
Structuro, Governance and Management (continued)
The Directors who served during the year or were appointed after the year end, were..
Mr TA Clements
Lady C Eames
Ms KA Shearer
Mrs A Jackson
Mr AR Alexander
Mrs CA Olver
Mrs JA Mccabe
Ms GR Traub
Mr E Sproule
Ms S Hill
Mr C Buick
Ms J Adams
(Chair)
(Deputy Chair)
Resigned 25 April 2025
Resigned 25 April 2025
(Appointed 29 July 2024)
(Appointed 27 January 2025)
(Appointed 27 January 2025)
(Treasurer)
None of the Directors has any beneficial interest in the company. All of the Directors are members of the company
and guarantee to contribute £1 in the event of winding up.
The full Board of Directors meets at least quarterly; in be￿een such meetings the Office Bearers and other
Directors discharge a number of responsibilities delegated by the Board. The day to day management of the
Society is the responsibility of the Chief Executive, who reports on a regular basis to the Office Bearers.
New Directors are appointed by the Board, having regard to the need for the Board as a whole to have a proper
range of relevant skills, experience and characteristics. The Chair, Deputy Chair and Honorary Treasurer are
appointed by the Board. New Board members are inducted by the Chair and other Office Bearers as well as the
Society's Chief Executive. They are introduced to the aims, policies and procedures of the Society (and the
Abbeyfield movement) through its manuals and general information on the Society's acts'vities. The most recently
appointed Directors bring a wide range of relevanl experience to the Board.
All members of the Board are volunteers and, as stated in the audited accounts, no remuneration is paid to any
Director of the charitsble company. There are many volunteers, who, as House Friends, complement the work of
the Society's Directors and staff, by giving friendship and support to residents.
The Society is affiliated to and is a Member Society of The Abbeyfield Society, a company limited by guarantee
which does not have a share capital, having its registered office at Abbeyfield House, St Peter's House, 2 Bricket
Road, St Albans, Hertfordshire,. company number 574816, registered charity number 200719. As a Member
Society, the Society agrees to adopt and work in accordance with the Guiding Principles and the established
standards of The Abbeyfield Society.
Key Performance Indicators
The Society aims to:
Generate an operating cash surplu5 which will allow the Society to meet financing commitments and for
the continued development of the Society to benefit older people. The Directors use a surplus of 50/0 of
income over operating expenses before financing requirements as a guideline. In the current period this
metric amounted to 11.7 % of income.
Achieve an occupancy level, over all houses, of 90 %.
Be compliant with the standards and requirements of the NIHE Quality Assessment Framework.

THE ABBEYFIELD BELFAST SOCIETY LIMITED
{COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THEYEAR ENDED 31 MARCH 2025
DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT)
ICONT'D)
Environmental Matters
The Society recognises its corporate responsibility to carry out its operations while minimising environmental
impacts. The Board's continued aim is to comply with all applicable environmentsl legislation, prevent pollution
and reduce waste wherever possible.
Auditor
The auditors, HM Chartered Accountants, have indicated their willingness to continue in offi￿, and in accordance
with the company's articles. a resolution proposing that they be reappointed as auditor of the company will be put
at a General Meeting.
Disclosure of Information to Auditor
Each of the Directors has confirmed that there is no information of which they are aware which is relevant to the
audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to
identify such relevant information and to establish that the auditor is aware of such information.
The Directors, report, including the strategic report, was approved by the Board of Directors.
Mr TA Clements (Chalr)
Director
Ms J Adams (Treasurer)
Director
Dated.. l.R.-. J. I - IGL.5

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
DIRECTORS, RESPONSIBILITIES STATEMENT
The Directors, who also act as trustees for the charitable activities of The Abbeyfield Belfast Society Limited, are
responsible for preparing the Directors, Report and the accounts in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿).
Company law requires the Directors to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the group and charitable company and of the incoming resources and application
of resources, including the income and expenditure, of the group for that year.
In preparing those financial statements, the Directors are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the accounts. and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the group and
charitable company will continue in operation.
The Directors are responsible for keeplng proper accounting records which disclose with reasonable accuracy at
any time the financial posilion of the group and charitable company and to enable them to ensure that the fi'nancial
statements comply with the Companies Act 2006. They are also ￿SPonSible for safeguarding the assets of the
group and charitable company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
On behalf of the board
r TA Clements (Chalr)
Director
Dated:
..13-. .1.l.-..lo.'LS

THE A88EYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF THE ABBEYFIELD BELFAST SOCIETY
LIMITED
Oplnlon
We have audited the financial statements of The Abbeyfield Belfast Society Limited and its subsidiaries for the
year ended 31 March 2025 which comprise the Consolidated Ststement of Financial Activities, (including Income
and Expenditure account), the parent charitable company Ststement of Financial Activities, the Consolidated
Balan￿ Sheet, the parent charitable company Balance Sheet, the Consolidated Statement of Cash Flows notes
to the financial statements, including a summary of significant accounting policies The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards,
including FRS 102 The Financial R8POrting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accountin9 Practice).
In our opinion, the financial statements.,
give a true and fair view of the stste of the group's and the parent company's charitable affairs as at
31 March 2025 and of its profit for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditols responsibilities for the audit
of the financial statements section of our report. We are independent of the company in accordance with the
ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the
relevant sections of thi5 report.
Other Information
The other information comprises the information included in the Directors, Report, other than the financial
statements and our auditor's report thereon. The directors are responsible ft)r the other information. Our opinion
on the financial statements does not cover the other information and, except to the extent otherwise explicitly
stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the
other information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to
determine whether this gives rise to a material misstatement in the financial statements themse5ves. If, based on
the work we have performed, we conclude that there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.

THE ABBEYFIELD BELFAST SOCIETY UMITED
(COMPANY UMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD BELFAST SOCIETY
LIMITED (CONTINUED
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Strategic Report and the Directors, Report for the financial year for which
the financial statements are prepared is consistent with the financial statements., and
the Strategic Report and the Directors, Report have been prepared in accordance with applicable
legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of the knowledge and understanding of the Charitable company and its environment obtsined in the
course of th8 audit, we have not identified material misstatements in the Strategic Report and the Directors,
Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report
to you if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been
received from branches nol visited by us., or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of direclors, remuneration specified by law are not made., or
we have not received all the informats'on and explanations we require for our audit
Responsibllltles of director8
As explained more fully in the Directors, Responsibilities Statement, the directors are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the directors determine is necessary to enable the preparation of fi'nancial statemenls that are
free from material misstslement, whether due to fraud or error. In preparing the financial statements, the directors
are responsible for assessing the company's ability to continue as a going concem, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless the directors either
intend to liquidate the company or to ￿ase operations, or have no realistic alternative but to do so.
Auditor'8 responsibilities for the audlt of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assuran￿ is a high level of assurance but is not a guarantee that an audit conducted in
accordan￿ with ISAS (UK) will always detect a material misstalement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-cornpliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate
competence, capabilities and skills to identify or recognise non-compliance with applicable laws and
regulations.,
we identified the laws and regulations applicable to the company through discussions with directors
andlor senior management, and from our commercial knowledge and experience of the sector",
We focused on specific laws and regulations which we considered may have a direct material effect
on the financial statements or the operations of the company, including Companies Act 2006, tsxation
legislation, data protection, ants'_bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inSp￿ting legal correspondence", and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.

THE AB8EYFIELD BELFAST SoCI￿y LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD BELFAST SOCIETY
LIMITED (CONTINUED
Auditor's responsibilities for the audit of the financial statements (continued
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining
an understsnding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud- and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.,
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries to identify unusual transactions-
assessed whether judgements and assumptions made In determining the accounting estimates set
out in Note 2 were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.,
In response to the risk of irregularities and non-compliance with laws and regulations, we designed prO￿dureS
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation:
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with HMRC and the company's legal advisors.,
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
http-llwww.frc.org.uklauditorsresponsibilities . This description forms part of our auditor's report.

THE ABBEYFIELD BELFAST SOCIETY LIMITED
ICOMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ABBEYFIELD BELFAST SOCIETY
LIMITED (CONTINUED)
The purpose of our audit work and to whom we owe our responsibilities
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work had been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an auditors, report and for no other
purpose. To the fullest extent perrnitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and the charitable company's members as a body, for our audit work, for this report, or for
the opinions we have formed.
Clare Mccarrison FCA (Senlor Statutory Audltor)
For and on behalf of HM Chartered Accountants
Chartered Accountants and Statutory Auditors
6th Floor, East Tower
Lanyon Plaza
8 Lanyon Pla¢•
Belfast
8T13LP
Date:
18- II_IOL

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE
ACCOUNT)
2025
2024
Unrestricted Restricted
Unrestrlcted Restrlcted
Funds
Funds
Funds
Funds
Notes
Total
Total
Income
Donations and
legacies
Charitable activities
Investments
Other income
36,157
2,000
38,157
6,252
6,252
2,419,937
19,304
9,317
76,087 2,496,024
19,304
20,740
2,267,119
14,873
45,527
83,481 2,350,600
14,873
107,082
11,423
61,555
Total income
2484715
89,510 2,574,225
2 333 771
145,036 2,478,807
Expendlture on:
Charitable activities
Trading activities
2,301,525
16,236
92,134 2,393,659
16,236
2,120,900
{1,338)
181,444 2,302,344
(1,338)
2,317,761
92,134 2,409,895
2,119,562
181,444 2,301,006
Profit on disposal of
fixed assets
273
273
430,183
430,183
Net incornel
(expendlturo) for
the year
167,227
(2,624)
164,603
644,392
(36,408)
607,984
Net movements in
funds
Fund balan￿s at 1
April 2024
167,227
(2,624)
164,603
644,392
(36,408>
607,984
7,453,526
18 954 7,472,480
6,809,134
55,362 6,864,496
Fund balanc•8 at
31 March 2025
7,620,753
16,330 7,637,083
7,453,526
18,954 7 472,480
The statement of financia1 activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 16 to 28 form part of these accounts.

THE A88EYFIELD BELFAST SOCIETY LIMITED
{COMPANY LIMITED BY GUAIiANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
2025
2024
Notes Unrestricted Restrlcted
Unrestricted Restricted
Funds
Funds
Funds
Funds
Total
Total
Income
Donations and
legacies
Charitable activities
Investments
Other income
36,157
2,000
38,157
6,252
6,252
2,419,937
19,304
9,317
76.087 2,496,024
19,304
20,740
2,267,119
14,873
45,527
83,481 2,350,600
14,873
107,082
11,423
61,555
Total Income
2 484,715
89 510 2,574,225
2,333,771
145,036 2.478,807
Expendltur6 on:
Charitable activities
2,301,525
92,134 2,393,659
2,120,900
181,444 2,302,344
Profit on disposal of
fixed a&sets
273
273
430,183
430,183
Net Incomol
(expenditure) for
the year
183,463
(2,624)
180,839
643,054
(36,408)
606,646
Net movements in
funds
Fund balances at 1
April 2024
183,463
{2,624)
180,83g
643,054
(36,408)
606,646
7,733,633
18,954 7,752,587
7,090.579
55,362 7,145,941
Fund balance8 at
31 March 2025
7,917,096
16 330 7,933,426
7,733,633
18,954 7,752,587
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 16 to 28 form part of these accounts.
12

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
2025
2024
Notes
Fixed assets
Tangible assets
12
8 956,001
9,016,141
Current assets
Debtors
Cash at bank and in hand
15
26,931
693,052
719,983
86,406
508,296
594,702
Creditors: amounts falllng due wlthin one year
16
(493,7261
(482,819)
Net current assets
226,257
111,883
Total assets not current liabllities
9,182,258
9,128,024
Credltor8: amount8 falling due after one year
17
1 545,175
1,655,544
Net assets
7,637,083
7,472,480
Income funds
Restricted funds
Unrestricted funds
18
19
16,330
7,620,753
18,954
7,453,526
Total fund8
7,637 083
7 472 480
The financial statements were approved by the Board of Directors on
and were signed on i
half by;
13.-It-Loi
"kki
Mr TA Clements (Chalr)
Dlrector
Ms J Adams (Treasurer)
Dlrector
Company Registration No, N1004632

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE}
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY STATEMENT OF FINANCIAL POSITION
2025
2024
Notes
Fixed assets
Tangible assets
Investments
12
13
9,090,282
9,297,586
9,090,283
9,297,587
Current assets
Debtors
Cash at bank and in hand
15
26,450
630,063
656,513
65,458
508 273
573,731
Credltors: amounts falllng due wlthln one year
16
268195
463.187
Net current a88ets
388 318
Total assets less current Ilabllltles
9 478,601
9408 131
Creditor8: amounts falling due after on• year
17
1545 175
1,655,544
Net assets
7,933.426
7 752,587
Income funds
Restricted funds
Unrestricted funds
18
16,330
7917096
18,954
7 733,633
Totsl funds
7,933,426
7 752,587
The financial statements were approved by the Board of Directors on
and were signed on its
alf by..
13-ii-iai.r
lements (Chair
Director
Ms J Adams (Treasurer)
Dlrector
Company Registration No. N1004632
14

THE ABBEYFIELD BELFAST socIErY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
CONSOLIDATED CASH FLOW STATEMENT
2025
2024
Notes
Cash flows from operating actlvlties
Cash generated from OFerations
24
597.402
367,717
Cash flows from investing actlvfties
Interest received
Interest paid
Purchase of tangible fixed assets
Proceeds on disposal of fixed assets
Net cash (used In) I generated from Investing a¢tivltle8
19,304
(136,922)
(185,614)
956
(302,276)
14,873
(152,677)
(75,282)
506.027
292,941
Cash flows from flnancing actlvltles
Repayment of bank loans
(110,370)
(567,086)
Net Increase In cash and cash equivalents
Cash and cash equivalents at the beginning of the year
508.296
414,724
Cash and cash oqulvalents at the end of the year
693,052
508,296
Relating to:
Cash at bank and in hand
693.052
508,296

THE ABBEYFIELD BELFAST SOCIETY LIMITED
COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 202S
NOTES TO THE FINANCIAL STATEMENTS
Accounting policies
Charity Information
The Society is a company limited by guarantee and does not have a share capitsl. It is govemed by a
Memorandum and Articles of Association and the liability of each member is limited to an amount not
exceeding £1. The registered Offi￿ is Harberton Hall, 23a Hart)erton Park, Belfast, BT9 6WX.
The group consists of The Abbeyfield Belfast Society Limited and all of its subsidiaries.
1.1 Accounting convention
The accounts have been prepared in accordance with the Companies Act 2006 and "Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)" las amended for accounting periods commencing from 1 January 2019). The company is a
Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convents'on. The principal accounting
policies adopted are set out below.
1.2 Basis of consolidation
In the parent charitable company financial statements, the cost of business contribution is the fair value at
the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus
costs directly attributable to the business cornbination. The excess of the cost of a business combination
over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as
goodwill. The cost of the combination includes the estimated amount of contingent consideration that is
probable and can be measured reliably, and is adjusted for change in contingent consideration after the
acquisition date. Provisional fair values recognised for business combinations in previous periods are
adjusted retrospectively for final fair values determined in the 12 months following the acquisition date.
Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.
The consolidated financial statements incorporate those of The Abbeyfield Belfast Society Limited and all of
its subsidiaries (ie entities that the group controls through its power to govern the financial and operating
policies so as to obtain economic benefits). Subsidiaries acquired during the year are consolidated using
the purchase method. Their results are incorporated from the date that control passes.
All financial statements are made up to 31 March 2025. Where necessary, adjustments are made to the
financial statements of subsidiaries to bring the accounting policies used into line with those used by other
members of the group.
All intra-group transactions, balances and unrealised gains on transactions be￿een group companies are
eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides
evidence of an impairment of the asset transferred.
1.3 Going concern
The Directors consider that there are no material uncertainties concerning the group and the charitable
company's ability to continue as a going concern.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future. Thus the
Trustees continue to adopt the going con￿rn basis of accounting in preparing the financial statements.

THE ABBEYFIELD BELFAST SOCIETY LIMITED
{COMPANY LIMITED 8Y GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
Accountlng policies
1.4 Charitable funds
The Society has various types of funds for which it is responsible and which require separate disclosure.
Definitions of the various funds are as follows=
Unrestricted funds are expendable at the discretion of the Society in furtherance of the objectives of the
Society. Such funds are expended on operating activities or may be held to finance capital investment and
working capital.
Designated funds are unrestricted funds which have been set aside by the Directors ft)r particular purposes
and comprise funds for the upgrading and renewal of the Society's houses, and adding to its housing stock
when appropriate.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose5
and uses of the restricted funds are set out in the notes to the financial statements.
1.5 Income
Income is recognised when the company is legally entitled to it after any performance condition have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Donations and legacies comprise donations, legacies, gifts and other forms of voluntary income which are
included In full in the Statement of Financial Aclivities when received. No amounts are included In the
financial statements for services donated by volunteers. Legacies are recognised when received or when
their amount is capable of measurement. Entitlements to material legacies which are not included are
disclosed in the notes.
Supporting People revenue grants are credited to restricted income when they are received.
Investment income comprises bank and other interest receivable in the accounting year.
Resident charges comprise charges receivable in the accounting year from residences of the Society's
homes.
1.6 Expenditure
The charitable expenditure comprises all expenditure by the charity when working to meet its charitable
objectives.
All expenditure, including trading expenditure related to the subsidiary, is accounted for on an accruals
basis and has been classified under headings that aggregate all costs related to the category.
House running costs represent direct expenditure incurred in running houses for residents and an allocation
of certain support costs. Support costs are allocated to house running costs on the basis of time spent.
Significant refurbishments are capitalised whilst other repairs and replacements are written off to revenue in
the year in which the expenditure is incurred.
17

THE ABBEYFIELD BELFAST SOCIETY UMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
Accountlng policies
1.7 Tanglble fixed assets
Tangible fi'xed assets comprise freehold properties (including improvements thereto), the initial cost of
furnishings and fittings and computer equipment.
Freehold properties and improvements thereto are stated at cost, or in the case of bequeathed properties at
probate valuatson. Depreciation is calculated so as to write off the cost on a straight line basis over the
expected useful life of the properties. The annual rate used is 2 % straight line. The Directors regularly
review the properties for impairment.
The cost of furnishings and fittings is the purchase cost together with any incidental costs of acquisition.
Depreciation is provided in respect of these furnishings at a rate of 250A straight line.
The cost of office equipment is the purchase cost together with any incidental costs of acquisition.
Depreciation is calculated so as to write off the Cost on a straight line basis over the expected useful
economic life. The annual rate used is 25Q/o Straight line.
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carrying value of the asset and is recognised in net incomel(expenditure) for Ihe year.
1.8 Impairment of fixed a380ts
At each reporting end date, the company reviews the carrying amounts of rts tangible asset5 to determine
whether Ihere is any indication that those assets have suffered an Impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other 5hort-temi liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
1.10 Flnancial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to
the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultsneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balance5, are initially measured at
transaction pri￿ including transaction costs and are subsequently carried at amortised costs using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at a market rate of interest. Financial
assets classified as receivable within one year are not amortised.
Basic flnancial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the
present value of the future payments discounted at a market rate of interest. Financial liabilities classified
as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1A

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
Accountlng policies
1.10 Financlal instruments (cont'd)
Trade creditors are obligations to pay for goods or seniices that have been acquired in the ordinary course
of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within
one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially
at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognltlon of financial liabllltles
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged
or cancelled.
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13 Flxed asset investments
Fixed asset investments are initially rneasu￿d at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomel(expenditure) for the year. Transaction costs are expenses as incurred.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and
operating policies of the entity so as to obtain benefits from its activities.
Crltlcal accounting estimates and judgements
In the application of the company's accounting policies, the Directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilitses that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and
other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

THE A8BEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2 Crltical accountlng estimates and Judgements (cont'dl
Impaimient and depreclation
Long-lived assets comprising primarily of freehold property represent a significant portion of total assets. The
annual depreciation charge depends primarily on the estimated lives of each type of asset and, in ￿rtain
circumstances, estimate5 Of ￿sIdUal values. The directors regularly review these useful lives and change them
if necessary, to reflect current conditions.
In determining these useful lives management consider technological changes, patterns of consumption,
physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a
significant impact on the depreciation charge for the financial year. The net book value of tangible fixed assets
subject to depreciation at the financial year end date was £8,956,001 (2024.. £9,016,141).
3 Donatlons and legacle8
2025
Unrestricted Restrlcted
Funds
Fund8
2024
Unrostrlcted Rostrictod
Funds
Funds
Total
Total
Donations and legacies
36,157
2,000
38,157
6,252
4 Charitablo actlvities
2025
2024
Unrestrlcted Restrlcted
Funds
Funds
Unrestricted Restricted
Funds
Fund8
Total
Total
Income from
residents
2,419,937
76,087 2,496,024
2,267,119
83,481 2,350 600
Of the above income from residents, £76,087 {2024.' £83,481) was received from Northern Ireland Housing
Executive Supporting People and was specifically applied in providing support for those residents
in respect ofwhom it was received.
5 Investments
2025
Unrestricted Restrlcted
Funds
Funds
2024
Restrlcted
Funds
Unrostrlcted
Funds
Total
Total
Bank interest
receivable
19,304
19.304
14,873
14,873
6 Other Income
2025
Unrestrlcted Restricted
Funds
Funds
2024
Restricted
Funds
Unrestricted
Funds
Total
Total
Insurance Claim
Supporting People
grants
Other grants
Deposit refunds
6,911
6,911
1,433
42,213
42,213
6,755
1,433
6,755
9,990
9,990
2,406
54,800
54,800
3,314
2,406
3,314
9,317
11,423
20,740
45,527
61,555
107,082
2n

THE ABBEYFIELD BELFAST SOCIETY UMITED
(COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
7 Charitable activitiès
House
Runnlng
Costs
2025
House
Running
Costs
2024
Staff costs
Depreciats"on and impairment
Recruitment and redundancy
Food
Cleaning
Waste removal
Training and uniforms
Heat and light
Rates and water charges
nsurance
Telephone, printing and stationery
TV licence and events
Repairs
Garden upkeep
Bell Rotary garden project
Sundry expenses
Marketing
Affiliation fees
Employment services
1,095,703
245,071
6,577
196,189
16,361
11,775
24,788
132,012
17,411
19,304
22,925
12,824
97,542
22,393
988,291
234,045
11,279
169,113
17,828
10,648
4,939
139,971
17,302
21,056
20,906
8,492
94,898
20,801
87,899
215
1,514
2,640
4,784
1,167
8,331
2,949
5,546
1,938,868
1,856,621
Support costs (see note 7.1)
Governan￿ costs (see note 7.1)
446,028
434,423
11,300
2,393,659
2 302,344
Analysis by fund
Unrestricted funds
Restricted funds
2,301,525
92,134
2,120,900
181,444
2,393 659
2,302 344
During the year ended 31 March 2025, Costs of £76,087 (2024: £83,481) were allocated against restricted
funds to match the restricted income from Supporting People in relation to income from resident's charges. A
further £15,601 {2024'. £65,733) of costs relate to other restricted grants and £44512024: £32,230) of costs
relate to restricted donations.
The total cost of support provided by the Society for eligible residents exceeded £76,087 (2024: £83,481) and
income from Supporting People is fully utilised in making a contribution to those costs.
21

THE ABBEYFIELD BELFAST SOCIETY UMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
7.1 Support and governance costs
Support Governance
costs
costs
Support Governance
costs
costs
2025
2024
Staff costs
IT software and
maintenance and offi
costs
Sundry expenses
Professional fees and
recruitment costs
Bank fees
Travelling and training
Fleet costs
Interest paid
Audit fees
252,978
252,978
219,262
219,262
31,575
2,703
31,575
2,703
33,422
2,522
33,422
2,522
2,890
4,862
8,272
5,826
136,922
2.890
4,862
8,272
5,826
136,922
8,763
10,254
4,752
4,932
6,602
152,677
10,254
4,752
4,932
6,602
152,677
11,300
8,763
11,300
446,028
8,763
454,791
434,423
11,300
445,723
Transfars
There were no transfers be￿een restricted and unrestricted funds in the year ended 31 March 2025.
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the
charitable company during the year. Diwtors, fees of £10,000 (2024: £ 5,000) were paid to directors of the
subsidiary company during the year.
Expenses amounting to £NIL (2024: £NIL) were paid to Directors during the year. Indemnity insurance for
Directors, liability has been purchased by the subsidiary company for £82612024: £1,020).
22

THE ABBEYFIELD BELFAST SOCIETY UMITED
{COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
10 Employees
Number of employees
The average monthly number of employees during the year was..
2025
2024
Number Number
House managers
House staff
Administrative staff
55
67
65
Employment costs
2025
2024
Wages and salaries
Social security costs
Other pension costs
1,237,605 1,109,146
89,064
78,168
22,903
20,239
1 349 572 1207,553
The remuneration of key management personnel in the year was £223,507 {2024.. £206,951).
One employee's annual remuneration fell be￿een £70,000 and £80,000.
11 Taxatlon
The Society is a registered charity, and as such is entitled to certain tax exemptions on income and profits
from investments, and surpluses on any trading activities carried on in furtherance of the Society's primary
objectives, if these profits and surpluses are applied solely for charitable purposes.

THE ABBEYFIELD 8ELFAST SOCIETY LIMITED
{COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
12 Tangiblo fixed assets
Group
Freehold Furnishings
property
& fittings
Office
equipment
Motor
Vehicles
Total
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
9,828,131
147,164
304,143
16,517
{5,949)
314,711
69,141
5,043
{19,808)
54,376
16,794 10,218,209
16,890
185,614
{25,757)
33,684 10,378,066
9,975,295
Depreciatlon and impalmient
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2025
976, 572
168,488
178,961
60,834
(5,266)
234,529
44,086
10,144
(19,8081
34,422
2,449
5,605
1,202,068
245,071
(25,074)
1,422,065
1,145.060
8,054
Carying amount
At 31 March 2025
8,830,235
80,182
19,954
25,630
8,956,001
At 31 March 2024
8,851,559
125,182
25,055
14,345
9,016,141
Charjtable Company
Freehold Furnishlng8
property
& ritting8
Office
equipment
Motor
Vehicles
Total
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
10,109,576
304,143
69,141
16,794
10,499,654
16,517
(5,949)
314,711
5,043
{19,808)
54,376
16,890
38,450
(25,7571
10,512,347
10,109,576
33,684
Depreclatlon and impalmient
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2025
976,572
168,488
178,961
60,834
{5,266)
234,529
44,086
10,144
(19,808)
34,422
2,449
5,605
1,202,068
245,071
(25,074)
1,422,065
1,145,060
8,054
Carrylng amount
At 31 March 2025
8,964,516
80,182
19,954
25,630
9,090,282
At 31 March 2024
9,133,004
125,182
25,055
14,345
9,297,586
2a

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
13 Fixed asset Investments
Charitable Company
Unlisted
Investments
Cost or valuation
At 1 April 2024
Addib'ons
At 31 March 2025
Carrylng amount
At 31 March 2025
At 31 March 2024
2025
2024
Other investments comprise
Note8
Investments in subsidiaries
22
14 Financial instruments
2025
2024
Carying amount of financlal a880ts
Debt instruments measured at amortised costs
13,966
Carrying amount of financlal Ilabilltles
Measured at amortised cost
2,008,079 2,111245
15 Debtors
Amounts falllng due wlthln one
year:
Group
Charitablo Company
2025
2024
2025
2024
Other debtors
Prepayments and accrued income
13,966
12,965
30,908
55.498
13,485
12,965
9,960
55.498
26.931
86,406
26,450
65,458
Other debtors in the charitable company relate to residents, charges due.
2.4

THE ABBEYFIELD BELFAST SOCIETY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
16 Creditors: amounts falling due within one year
Group
Charitable Company
2025
2025
2024
2024
Bank loan
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
Amounts owed to group undertakings
110,370
30,822
23,361
16,490
312,683
110,370
27,118
177,632
8.697
159,002
110,370
30,822
23,361
16,490
61,419
25,733
110,370
27,118
54,576
8,697
58,693
203,733
493,726
482,819
268,195
463,187
Barclays Bank PIC hold 8 charge over all the assets of the company.
The term of the loan is 5 years on a floating rate basis of interest with a margin of 3 % per annum.
Repayments have been calculated on the basis of an 18 year repayment profile.
17 Credltors: amounts falllng due after one year
Group
Charitable Company
2025
2025
2024
2024
Bank loan
1545,175
1655,544
1,545 175
1.655,544
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of
donations and grants held on trust for specifi'c purposes..
Movements In funds
Incoming
Resources
resources
Expended
Balance at
Transfer
from
Unrestrlcted
funds
Balance at
31 March
2025
2024
Supporting People Fund -
NIHE
SupF)Orting People Fund
Bell Rotsry Fund
Samuel Eric Turpin Fund
other restricted
grantsldonations
76,087
(76,087)
9,054
95
9,805
(4,178)
(95)
(351)
4,876
9,454
13,423
18,954
89,510
92,134
16,330
The restricted funds comprise..
The Supporting People funding is received from the Northern Ireland Housing Executive and specifically
applied in providing support for those residents in respect of whom it was received.
The Supporting People fund in respect of Easireaders was capitalised and depreciation is being expensed
on these over four years. The balance of £4,876 at 31 March 2025 represents the carrying value of these
assets in the financial statements.
2fi

THE ABBEYFIELD BELFAST SOCIEfY LIMITED
(COMPANY LIMITED BY GUARANTEEI
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
18 Restricted funds (continued)
Samuel Eric Turpin Fund is utilised to mark long Servi￿ of staff members.
19 Unrestricted funds
Movements In funds
Balance at Incoming Resources
1 April resources
expended
2024
Gain on Transfers Balance at 31 March
Disposal
2025
Designated
reserves
General
reserves
7,150,537
273
148,675
7,299,485
302,989 2,484,715 (2,317,761)
(148,675)
321,268
7,453,526 2,484,715
2 317 761
273
7,620 753
The Society's policy is to hold and designate an amount of general reserves in the form of cash at bank,
equivalent to approximately four months forecast net expenditure, having regard to an anticipated level of
incorne. Reserves in excess of this amount are treated as designated for the upgrading and renewal of the
Society's houses and adding to its housing stock when appropriate.
20 Analysis of net assets between funds
Unrestrlcted
Funds
2025
Restricted
Funds
2025
Total
Total
2025
2024
Fund balances at 31 March 2025 are
represented by..
Tangible assets
Current assets
Long term liabilities
8,951,125
214,803
1,545 175
4,876
11,454
8,956,001
226,257
1,545 175
9,016,141
111,883
1655 544
7,620,753
16,330
7,637,083
7,472,480
21 Related party transactions
Fees totalling £10,000 (2024: £5,000) was paid to a director of the subsidiary company during the year.
Directors liability insurance of £826 (2024.. £1.020) was paid by the subsidiary company during the year.
22 Subsidiaries
These financial statements are separate company financial statements ft)r The Abbeyfield Belfast Society
Limited.
Detsils of the company's subsidiaries at 31 March 2025 are as follows:
Name of
undertaking
Registered
office
Nature of
business
Class of
shares held
/0 Held
Direct
Indirect
AFB Developments As above
Limited
Property
developments
Ordinary shares
100
27

THE A8BEYFIELD BELFAST SOCIETY UMITED
(COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
23 Ultlmate controlling party
There is no ultimate controlling party.
24 Cash generated from operations
2025
2024
Surplus for the year
164,603
607,984
Adjustments for".
Profit on disposal of fixed assets
Investment income recognised in statement of financial ackn'vities
Interest payable recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
(273) (430,183)
(19,304)
(14,873)
136,922
152,677
245,071
234,045
Movements in working capital..
Decreasel{incfeasel in debtors
Increasel(decrease) in creditors
59,475
10,908
(73,160)
108 773
Cash generated from operatlons
597,402
367,717
ID636387
2A