Charlty registration number.. SC008993
Co-operative and Community Benefit &)cieties Act No 1901RS
Abbeyfield Perth Society Limited
Annual Report and Flnanclal Ststements
lor the Year Ended 30 September 2024

Abbeyfield Perth Society Limited
Contents
Refe￿n￿ and Administrauve Detalls
Executyve Committee's Rewjrt
2to7
ststement of Execufjve Comrnittee's Responslbllldes
Inéependent Auditors, Report
9t013
statement of Flnanttal Athvltles
14to15
Balance Sheet
16to 17
Cash Aow Statement
18
Notes to the Flnanclal Statements
19to34

Abbeyfield Perth Society Limited
Reference and Administrative Detai15
Chainnan
Executive Committee
Secretary
Treasurer
Senior Management Teim
Prfnclpal Office
ViewlatKls House
25 Viewlands Rd
Perth
PHI IBL
Soclety Reglstratlon Number SC008993
Investment advisors
Auditor
Morris & Young, Statutory Auditor
Chartered Accountants
6 Atholl Crescent
PERTH
PHI 5JN
Page I

Abbeyfield Perth Society Limited
Executive Committee's Report
The Executive Committee present its sixty-second annual report together with the finanoal
ststements for the year ended 30 September 2024.
The financial statements have been prepared in accordance with the accounting pollaes set out in
note I to the financial Statements and comply with the Sxiety's rules, the Co-operative and
Community Benefit Societies Art 2014, the Charities and Trustee Investment (Scodand) Act 2005, the
charl￿eS Accounts (￿tland} Regulations 2006 and Accounting and Reporting by Charities..
Statement of Recommended Prattice applicable to charib'es preparing their accounts in accordan
with the Financial Repo￿n9 Stsndard applieable in the UK and Republic of Ireland (FRS 102)
(effertlve l January 20191.
Objectives and activitles
Objerts andalms
The prinapal ath'wty of the Soo'ety Is to provide accommodauon, care and companionship for lonely
or frail e5derty people in accordance with the aims and prinaples of The Abbeyfield Society Limited.
The rules of The Abbeyfield gKiety, of which the Perth society is an affiliated member, govem the
aptx)intment of the Committee whith is tharged with the management of the Society in furtheran
of its princlpal act'vity, fund management and financial affairs generally. Members of the Executsve
committ￿ are chosen by selection or elettion and each one becomes a member of the society upon
payment of £1, "sharing the back-up of Member &)aettes, and of County, Regional and National
Volunt*rs and Stsff, fffte Abbeyrield &xiety, September 1997). Each member of the Execub"ve
Committee is aPFM)inted for a term of th￿e years following which he/she is required to retire but is
eligible for re*lertion. The EX￿Utive Committee meets as and when required, including the
necessary three monthly meets'ngs.
The society is an affiliated member of The Abteyfield Society by payment ol an annual subscription.
Page 2

Abbeyfield Perth Soaety Limited
Executive Committee's Report
Achievements and performance
A surplus of £105,334 (2023 - £64,250 surplus) was achieved in the year.
The occupancy rale at VieY4lands House was 31.7 (maxlmum 32) compared to 31.4 for 2023.
Resldential care remalrs our pNmary fc(us, however nur51ng facillty continues to be successful.
Resldents and Ihelr lamllles have welcomexj th15 Service as conuriulty frorn resldeiilial to nurslng
are Is beneflcial.
The management of staff resource5 acr055 the year has contbnued to be extremely thallenglng but by
the stsff exerasing great flexlbility to t￿1r worklng rots5 and the Introduttbn of bank staff we have
rnonaged to minimise the nood tr• call on agencv staff to flll in any gaps and have managed to
continue to athieve the high level of care ￿qtylred. Thbs 1$ evidenced by the Care Inspectorate's vlslt
in the ye3r giving the Home a raong of 5 'Very Good, which an excellent result. The Sc£lety ha5
instigated all appropriate protocols and maintsined the testing regirne In Vlewlarmts House as r￿UIred
by the legislab'on, turrent at the tlme.
We are indebted to ow Manager
with her deputy
lor the effort and tsme
they spend to maintain these high standarJs and trev continue
avei
e support of the Executtve
Committee. staff and the residents, and their famllies continue lo express Ihelr appreclation of thelr
managernent role within the Home.
In Viewlands Court, set within the grounds ol Viewlands House, the Society has Six bungalows which
are let, under Prlvate Re51denty"al Tenancy agreements, to elderty people who wlsh to 1Sve
independentty.
The slx bungalciws have been occupied 93.3% of the year12023 - 97.5Qh) and the tenants are all
15ited regularfy to ensure trol they are happy wlth tt)eir acccsmmodation. As the propertles become
vacant, we have commenced a ￿TUrbIShment programme reflttlng the kltchens,
Ihe Eyecutive Committee acknowledges the contrbution of volunteers and "Friends" of the Sotiety
who have proifjded valuable Serv[￿ over the year and arrange outing5 for the resldents wlth a full
programme of events and outings. The Annexe is proving to te a very useful additional space f
tivities lor resldents and now, being more accessible, wlll condnue to expand.
Fin•n¢l•l r¢vlow
At the balarte sheet date, the Society has funds avallatje for general use totslling £1,313,381 {2023
£1,208,047). In addition, the Sooety has a Development ReseNe ol £1,066,111 (2023
£1,066,111) and a Future Cydical and Major Repalrs Reserve of £IOO,000 (2023 EIOO,000) a5
detèiled in Note 23.
The Executive Committee has overall responslblllLy for ensurlng that the Society has appropnate
systems of controls. financial arQ othetwise. The systems of financial contrds are deslgned to provide
reasonable, but not absolute, assurance aijainst material misstatement or loss. They irKI￿e an
annual budoet, approved by the ExecuUve Committee, which is regularly reviewed against attual
results and vanances from f0￿Cast, Systems for delegation of authority and segregaty'on of duts'es as
far as possible gI￿n stafflng levels are also in place.
PagE 3

Abbeyfield Perth Society Limited
Executive Committee's Report
The Society d￿$ not have a reseNes policy other than to mèintain a fund of at least ÉlOO,000
required for future cyclical and major repairs in the medium and l¢)ng term. The Society has free
liquid reseNes well in excess of this amount with cash at bank and in hand of El,378,098 (2023
£1,359,285) but it is the Intentson of the Society to Use these reserye5 towards future expansion or
investment opportunities as they arise.
Prlnclpal risks
The key to future finanaal surpluses is the level of occupancy at Viewlands House and the Viewlands
Court bungalows. In past years Viewlands ￿sidential OCCUPanLy has been maintained at reasonably
high levels and as mitygation we are encouraged by the number Cur￿ntlY on our waiting list.
In addib'on, the retention of stsff Is also a major conslderation and the availability of new staff
remains diffiajlt to find. Falling Interest rates will also affett the ￿turnS received from our
investsnents.
Page 4

Abbeyfield Perth Society Limited
Executive Committee's Report
Plans for future period$
AIn￿ andkey objertlves forfi1tu￿perf0rfs
Staff retention and development will remain a prfority of the Sxiety. Training programmes wlll
continue to be prepared to meet the requirements of staff retention induding those required by
regulab'on.
Although inflation rates are falling, we must look at maintaining satisfartory levels of increase to staff
wages as proper recompense for the work that they do. We have bud9eted in the year 2024 lo 2025
to pay all of our carers at or above the'Real Living Wage.. This will a55iSt in maintaining the retention
of staff and attract others. With almost 80010 of the Society's operating costs being staff costs the
consequence of this coupled wbth the Increased National Insurance costs coming Into effect In April
2025 wlll be that residents, fees will alsts need to be reviewed upwards. This will be carrled out with a
dose scrub'ny of the Care Home market and the Society Is confident that this can be achieved and still
remain highly competits.ve in the marketplace.
Programmes to reduce operattng costs via energy efficiency improvements and energy savings will
continue during the year. The installation of solar panels to the Home in the year has al￿adY
demonstrated the benefit in savings to our energy bills.
Altrough there is litNe opportLJnity to expand within the limits of the e￿$tIng grounds of Viewlands
House the 5oo.ety will conb.nue to seek opportunities to expand the services offered for the care of
the elderly in and around Perth.
The policies and procedures of the Soaety will be reviewed on a regular basis to ensu￿ that the
residents continue to receive the best quality of care. A 'pad(' of infom)ation on the re5pon5ibilities of
trustees has been distributed to all trustees and will be provided to all new trustees.
Abbeyfidd Sooeties, in common with other care organisations, face d)ange in soclety, in particular,
the national drive towards 'care at home, and Inc￿aSing regulation. However, the Socbety believes
there will be a conts"nuing need for high-quality ￿Sidents"al and nursing rare to be provided by
independent voluntary organisations as witnessed by our healthy waittng Ilst for new residents, and
the kn.ety continue to invest in improvements to the facilibes.
To this end the Society continues to monitor the developing market to ensure that the level of care
and facilities provided remain relevant to the future development of care home provi5i0n.
Page 5

Abbeyfield Perth Society Limited
Executive Committee's Report
strurturei governance and management
The Society is regISte￿d under the CO-Opera￿Ve arKI Community B£￿erit Societies Act 2014 (Number
1901R(S}) and Is an exerrpt charity with solely CharIta￿e obJett"ves. Thè Sooety is registered as a
harity (SC008993}.
The Executive Cornmittee who served durirg the year and up to the date of s¢gnature of the financial
sL4tements were-
In accordan￿ with the registered rules of the Sodety.
retired by rotats.on from the Execufjve Comrnittee. Botn orrereo crEmseive5 éna We￿ d¢LÈPLe
re-election.
vf
Retyultment andapwntment olExecutive Commlttee
Trustees are recrbited by adverty"singi or word ol rr,outh. New Trustees rnust complete an applicab.on
form, a PVG di5dosure, and hove 2 salisfactory references. New Trustees will be prowded with a
trustee s infornkits'on p￿ arKJ the papers and minutes of tre most re￿nt meeting to bring them up
to date. They ￿111 be inwted to the next Twstee meeting and intrcmjuced to the other members.
Depending on their skills and experien￿, they may be invited to be Trustee ￿preSentatsVe in
their parts'cular fiekj of expertise.
Arrnngeménts forsettlng key ￿￿nagen￿ntpersonn￿I remuneration
The remunerab.on of key management personnd and all 5fAff Is discussed and agreed by the
EKecuDce Commlttee.
Flnanclal instrumffits
Objertlves andpollcles
The Soo"ety's ath'vities expose it to o number of financial risks induding credit risk, (ash flow risk and
liquidity risk.
The Executive Comrnittee have assessed the rnajor risks to which the SLtiety is exposed and are
$3tisfied that systems are in place to mitigate its exposure to major risks irlduding arrarKJements to
review the risks on a regukr basis.

Abbeyfield Perth Society Limited
Executive Committee's Report
Cash flowrfsk
The Executive Commlttee has retained sufficient cash resour￿5 to ￿￿t the immediate iequirLYnents
ol the Society.
Credlt rlsk
The Society's principal fin￿Cial assets are bank balances, cash and fee incorne debtors.
The Society's credit risk is primarily attributable to its fee Income debtors. The amounts presented in
the balance $￿t are net of allowan￿5 for doubtful receivables. An allowan￿ for impairrnent 15
made where there Is an Identified loss event whith, basea on prevlOUS expenence, Is eVIden￿ of
reduthon In the recoverabilicy ol the cash flows.
Ihe credit nsk on liquid funds Is limited because counterpafdes are bants wlth hlgh credlt-ratlngs
assigned t)y Intematlonal credit-ratyng agencie5.
The kniety has no sgnifiGanl corKentrab"on of credit risl with exposure spyeèd over a large nLJmber
of counterparties ar)d cUSto￿￿r5.
Liquidity 17sk
In order to maintsin Ilquidity to ensure that sufficient funds are availatle for orKJoing operations
future developtnents, the gxiety's liquid funds are kept in a combination of a nOn-inte￿5t-￿aNng
bank account fDr serwcing the Society's everyday financial needs, Interest-bearing bank accounts
and managa1 inveStm￿ts balancing the need for ready access to those fund5 With long term future
opportunity 10 maximise the return on those fvnds.
Disclosure of Infomiatlon to auditor
Each member has taken steps that they ought to have tsken as a member In order to Tr￿ke
themselves aware r* any relevant audst information and to establish that the Soo'èty's 3udittr is
aware L)f that information. The Executive Committee confimi that there is no relevant information that
they know ol and of which t￿¥ know the auditor is unaware.
The annual report wa5 approved by tre Executive Comrn1tt￿ of the Sc￿ery on l ApMI 2025 anii
signed on its behalf by..
Pa￿7

Abbeyfield Perth Society Limited
ststement of Executive Committee's Responsibilities
The Executive Committee are resp)n5ible for preparing the Executive Committee's Annual Report and
e financial statements In accordance with the United Kingdom Accounty"ng Standards {Unlted
Kingdom Generally A￿pted Accounong Prarticel and applicable law and regulations.
The law appllcable to charib'es requires the Executive Committee to prepare financlal statements for
each flnancial year which glve a true and falr view of the state of affairs of the Society and of the
incomlng re50uffjes and application of resoUr￿S of the Society for that ￿riod. In p￿parIng these
financial statements, the Executive Commlttee a￿ required to..
select sultsble accounb'ng polioes and then apply them consistenuyi
observe the methods and princlples In the Charldes SORP.
make Judgements and esllm43tes that are reasonable and prudent.
State whether appllcatrAe accounting stsndards have been followed, subject to any material
departures dlsclosed and explained in the flnancial statements,. and
prepare the financial statements on the going concern basis unless It is Inapproprlate to presume
that the charity will continue In bu51ness.
The Executive Commlttee are responslble for keepln9 proper accounting records that disclose wlth
asonable accuracy at any time the finandal position of the Society and enable them to ensure that
the flnancial statements comply with the Charltie5 and Trustee Investment (Scotland) Act 2005, the
Co.operaUve and Community Beneflt Societies Acr 2014, the Charltles Accounts (Scotland)
Regulatlons 2006 {as amended} and the prov15ions of the Soclety's Constitutlon. The Execub've
Committee are also rtsponslble for safeguardlng the assets of the g)clety and hence for taking
reasonable steps for the p￿Venth"On and detertion of fraud other Irregularfles.
Page 8

Abbeyfield Perth Society Limited
Independent Auditor's Report to the Members of Abbeyfield Perth Society
Limited
Oplnlon
We have audited the TInar￿la1 statements of Abbeyfield Perth Sc(iety ￿Mited (the 'Society'l for the
year ended 30 Septern￿r 2024, which comprise the Ststement of Finandal Acti￿be$, Balance Sheet,
Cash Aow Ststement, and Notes to tr* Finanoal Stètements, [￿lUdIng a 9Jmmary of slgnlflcant
accountrng policie5. The finanaal ￿pr￿tsng framework that has been applied in their p￿paration is
applicable law and United ￿ng￿orn Accountyng StarKlards. comprtsiThJ ChJrtties SORP (FRS 102} and
Tr Financial Reporting Standard ap￿ICable in the UK arKI Reputlic of I￿land, (FRS 102) (Unlted
Kingdom Generally Accepted Accounting Prattl.￿).
In our opinion the finanoal statements:
give a true and fair view of ihe state of the Sco'ety's affaits as at 30 September 2024 and of Its
results for the year then ended;
have been prO￿￿Y p￿pa￿ In acCOrthn￿ with Unlted KIl￿d￿ Genwally Acceptsj Accounong
Prattl￿. and
have been prepared In accordance wlth the requirements of the Co-operattve arKI Communlty
Benefit $￿tIes Act 2014, the thanties and Trustee Invesbnent {ScoUand) Art 2005 and
regulafjon 8 of the Charttyes AcCo￿ts (kolla￿l) Regulatlons 2(K)6 {a5 amended).
Basls for oplnlon
We conducted our audlt In accordance with Intemabonal Standards on Auditrng {UK) IISAS IVKI) and
appllcable law. Our responsstj'libes under those standards are further desthw In the Audbtorfs
responsibility'es for the audit of the finanaal statements sect.on of our rep)rt. We are Independent of
the sxiety In accordance with the eth￿al reqU1￿ments that a￿ relevant to our audit of the flnancial
statements In the UK, incI￿ling the FRC'S Ethical Standard, and we have fulfilled otsr other ethlcal
responsibilioes in accordarKe with these reqU1￿Ments. We believe that the aLMIIt evIder￿e we have
obtained Is suffident and appropriate to prwoe a ba4s for our oplnth.
Conduslon$ r¢latlng to golng concern
In auditing the finanaal ststements, we have Cond￿ that tre Ex￿tsVe Committee's use of the
going CtyKem tsa￿s of accountsng in ￿ Preparati￿ of the finarbjal Ststern￿ts is approprtate.
Based on the work we have ￿f0M)e￿, y￿ have not idenb.fied any material uncertsinbes relating to
events or conditions that. individualty or cdlectively, may cast 9gnificant doubt on the &xlety's abillty
to continue as a going concem lor a penod of at least twelve months from when the financlal
statements are authorlsed for Is￿.
Our reSp)nSi￿lItIeS and the re5pon5itylib.es of the Executive Cmimittee with re¥ert to golrvJ ¢0￿M
are described in relevart sectscffls of this reim)
Other Inforniation
The Executive Committee are ￿5￿)nsIble for the other information. The ofvr informats'on comprtses
the informatbon induded in annual report, other than the finarKial 5tstements and our auditor's
report thereon. Our Opmnion on the firkinoal 51atements does not cover the other InfOrMa￿On and,
except to the extent otherwise ex&4ltitty stated In cMJr we do rn)t express any fomi of
assurance condugon therem.
P•3e 9

Abbeyfield Perth Society Limited
Independent Audltor's Report to the Members of Abbeyfield Perth Society
Limited
In connection with our audlt of the financial statements, our ￿SponsIbl11ty is to read the other
information and, in dolng so, conslder whether the other informabon is materially Inconsistent wlth
the flnancial ststements or our knowledge obtained in the audit or otherwlse appears to be materiallv
mlsstated. If we idenb'fy such material Inconsistencies or apparent materlal misstatement5, we are
quired to detemiine whether there is a material misstatement in the financial statements or
material misstatement of the other Information. If, based on the work we have performed, we
condude that there is a materlal mlsststement of thls other Infomiation, we are required to ￿pOrt
that fart.
We have nothlng to ￿POrt in thls regard.
Matters on whlch w¢ are requlr¢d to report by exceptlon
In the Ilght of our knowledge and unders￿ndIng of the Society and its envlronment obtalned In the
course of the audiL we have not Identified material misstatements in the Executive Committee's
Report.
We have nothing to report in respect of the followlng matters where the Charitle5 Accounts {Scodand)
Regulations 2006 las amended) requlre5 US to rewrt to you if, In our opinion..
proper books of accounts have not been kept In accordance with the requlrements of the
legislatlon,. or
the flnanclal ststements are not In agreement wlih the accounts.ng records and returns; or
a savsfactory system of control over transactions has not been malntained by the Sodety In
accordance wlth the requlrements of the legisladon,. or
certaln él5closu￿S of Executive Committee members remUnera￿on specined by law are not made,.
or
we have not recdved all the infomiatson and explanations we requlre for our audit.
Responslbllltles ol Executlve Commlttee
As explained more fully in the Statement of ExecuNve Commlttee's Responslbilltyes (set out on page
81, the Executlve Comrnlttee are responsible for the preparation of the flnanciol statements and for
bs'ng satlsfled that they glve a true and falr view, and for such Internal control as the Executtve
Committee determine Is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
En preparfng the flnanoal statements, the Executive Committee are ￿sponSible for assessing the
Society's ability to conb'nue as a going concem, disclosing, as appllcable, matters ￿lated to going
concern and using the going concern basis of accounting unless the Executive Comrnittee either
Intend to Ilquldate the Sodety or trj ￿ase operations, or have no realistlc altematlve but to do so.
Audltorfs responslbllltles for the audlt of the flnandal ststements
Our objertives are to obtain reasonable assurance about whether the finanaal statements as a whole
are free from material mi55tstement, whether due to fraud or error, and to Issue an auditorfs report
that indudes our opinion. Reasonable assurance is a high level of a55urance, but is not a guarantee
that an audit condurted In accordarKe with ISAS IUKI will always detect a material ml55tatement
when it exlsts. Mi55tatements can arise from fraud or emr and are considered material If, individually
or in the aggregate, they could reasonably be expeoted to influence the economic decisions of users
taken on the basis of these financial Statements.
Page 10

Abbeyfield Perth Society Limited
Independent Auditor's Report to the Members of Abbeyfield Perth Society
Limited
Extent to which the audlt was considered capable of detecting irregularltles, Includlng
fraud
We Idenvfy and assess the risks of material misstatement of the flnanaal statements, whether due to
fraud or e￿Or, and tt)en design and Ferform audit procedures ￿$t)onSive to those risks, induding
obtaining audit evidence that Is suffioent and appropriate to provide a basis for our opinion.
Identifylng andassessingpotenbal risks ￿lated to Irregularf&Yes
Irregularities, induding fraud, are instances of non-complian￿ with laws and regulations. We design
procedures in line with our re5POn5ibilib'es, OUt15ned above, to detect rnaterial misstatements in
respect of Irregulariues, including fraud. The extent to which our pro￿ureS are capable of detecbng
irregularities, induding fraud Is detailed below:
the nature of the regulated sector, control environment and understsnding of the entity induding.
but not restricted to, the understanding that the Execubve Committee are not remunerated, and the
prevalen￿ of fraud In the settor especially in the current un￿rtain economic environment:
results of our enquines of the Execub've Committee abc>ut their own Identsficats'on and a55e55ment
of the risks of irregularities,.
ny matters we identified having obtained and reviewed the 9xiety's' d¢xumentation of their
polioes and procedures relating to-
identifying, evaluating and complying with laws and regulations and whether they were aware of
any Instsnces of non-compliance,.
deterting and respond1ng to the risks of fraud arxl whether they have knowledge of any actual,
susperted or alleged fraud;
the internal contmls established to mitigate risks of fraud or non-c0mp1lan￿ with laws and
regulations,.
the matters di5cussÈd among the audit engagement team regarding how and Whe￿ fraud mlght
occur in the financial 5tstements and any potential indicators of fraud.
As a result of these procedures, we considered the opportunib.es that may exist within the
organisation for fraud and idenb'fied the greatest potential for fraud in relats.on to revenue recognition.
In common with all audits under ISAS (UK), we are also required to perform speafic procedures to
respond to the risk of management ovemde.
We also obtained an understanding of the legal and regulatory frameworks that the Society operates
in, focu9ng on provisions of those laws and regulations that had a direci effeLt on the determination
of material amounts and disclosures in the financial statements. The key laws and regulations we
considered in this context induded the Society's Constitution, and various charity-specific legislation,
including The Charitres and Trustee Investment (Scotland) Act 2005 and the Co-operative and
Community Benefit Soaetie5 Act 2014.
Page 11

Abbeyfield perth Society Limited
Independent Auditor's Report to the Members of Abbeyfield Perth Society
Limited
Our procedures to respond to risks identsfied induded the following..
reviewing the flnancial statement disclosures and testing to SUppo￿.ng documentats.on to assess
compliance wlth prov15ions of ￿levant laws and regulabons described as having a dirett effect on the
finanoal statements,.
enquiring of the Executive Committee and legal advisors conceming actual and potential litjgation
and daims,.
perfomiing analytical procedures to idenb'fy any unusual or unexpected relatr"onships that may
indicate risks of material misstatement due to fraud;
reading minute5 of meetings of those charged with governance;
proof in total of Residents, and Tenants, Charges income was condurted, and consideration given to
revenue recognition accounting policies. Also reviewed the minutes of meetings for completenes5 of
income,.
in addressing the risk of fratjd throwh management override of controls, testing the
appropriateness of joumal entries and other adjustments,. assessing whether the judgements made in
making accounting estimates are indicative of a potential bias; and evaluats'ng the business rationale
of any significant transactions that are unusual or outside the nomial course of business.
We also communicated rdevant identified laws and regulakn'ons and potential fraud risks to all
engbgement team members and remained alert to any indications of fraud or noncompliance wlth
laws and regulations throughout the aLMlit.
Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have
detected some material misststements in the financial statements, even though we have propedy
planned and FErformed our audit in accordan￿ with auditing standards. For example, as with any
udit, there remained a higher risk of non-detection of irregularitie5, as these may Involve collusion,
forgery, intenb'onal omissions, misrepresentstions, or the override of internal controls. We A￿ not
responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected
to detert all fraud and non-c0mpl1an￿ with laws and regulations.
A further description of our responsibilities for the audit of the finano'al statements is located on the
Financial Reporting Counal's webslte at www.frc.org.uklauditors￿p0n$lbll1kn.es. This de5c￿ptiOn
forms part of our auditor's report.
Page 12

Abbeyfield Perth Society Limited
Independent Auditor's Report to the Members of Abbeyfield Perth Society
Limited
Use of our report
This rewrt is made solety to the kntety's ExecutNe Commlttee, as a In accordance with section
44 (1)(c) of the Charities arnl Trust￿ Investment (Scotlané) Act 21x15 and Regulation 10 of the
Charities Accounts IScotlaThl) ReguLith)ns 2￿6 (as an￿nC￿l). Our work has been undertsken so that
we might state to the ￿lety'S Executive Commrttee those matters we are required tc state to them
in an auditors, ￿[m)rt and for no other purpw)se. To the fullest extent Fwmitted by law, we do not
ac￿￿* or assun* responsibility to anyo￿ other than kKiety and its ExKutive CoMMrt￿ as
bcdy, for our audit work, far this rep)rt, or for the opini￿$ we have fom)ed.
asanau
or
emis of sectkni 1212 of the Companks Act 2¢)06
Chartered Accountsnts
6 Atholl creS￿nt
PERTH
PHI 5JN
L5 AwS12025
Page 13

Abbeyfield Perth Society Limited
ststement of Financial Activities for the Year Ended 30 September 2024
Total
2024
Total
2023
Income and Endowments from:
Donations and leg
Charitsble artivities
Other trading athvit
Investment inc(Mne
Other Income
3,139
1,552,481
2,933
62,474
3,139
1,552,481
2,933
62,474
4,668
1,454,641
1,905
33.110
Total Income
1623 229
1623 229
Expenditure on:
Raising fijnds
Charitable acbvities
(3,286)
1533 329
(3.286)
1533 329
1430 947
Total Extenditure
Gains/(losses) on investrwt assets
1536 615
1536 615
1430 947
333
Net movement in funds
105,334
105,334
64,250
Rec¢nollatlon of funds
Totsl funds tyought foTh¥arKI
2 374 158
2 374 158
2 309 908
Totsl funds carried forward
2 479 492
2 479 492
2 374 158
Page 14

Abbeyfield Perth Society Limited
Statement of Financial Act4Vities for the Year Ended 30 September 2024
Unrestricted
funds
30
September
2023
Note
Income and Endowments from:
Donations and legacies
Charitable acb'vities
Other trading activikn'es
Investment income
other income
4,668
1,454,641
1,905
33,110
540
1,454,641
1,905
33,110
Total income
1494 864
1494 864
Expendlture on:
Charitable artivities
1430 947
1430 947
Total expenditu
Gains]{Ios5esl on investment assets
(1,430,947) (1,430,947)
333
333
Net income
Net movement In funds
64,250
64,250
Reconciliation of funds
Total funds brought fotward
2 309 908
2 309 908
Total funds carried fomard
23
2 374 158
2 374 158
All of the Society's activikn'es derive from contlnuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 23.
Page 15

Abbeyfield Perth Society Limited
(Registration number: SC008993)
Balance Sheet as at 30 September 2024
2024
2023
Fixed assets
Tangible assets
Lnvestments
14
15
812,099
315 565
770,691
292 169
1127 664
1062 860
Current assets
stocks
Debtors
Cash at bank and hand
16
17
18
4.588
54,885
1378 098
5,295
44,671
1359 285
1,437,571
1,409,251
Credltors: Amounts falling due within one year
19
Net current assets
1376 828
1336 298
Total assets less current liabilities
2,504,492
2,399, 158
Creditors: Amounts falling due after more than one
year
20
Net assets
2 479 492
2 374 158
Funds of the Society:
Unrestrlcted income funds
unrestn.cted
2 479 492
2 374 158
Total funds
23
2 479 492
2 374 158
Page 16

Abbeyfield Perth Society Limited
(Registration number: SC008993)
Balance Sheet as at 30 September 2024
The financial statements on paw 14 to 34 were a)proved by the Ex￿ut￿e Committee. and
7) signal on their behall by:
Page 17

Abbeyfield Perth Society Limited
Cash Flow Statement for the Year Ended 30 September 2024
2024
2023
Note
Cash flows from operatiTh9 actlvitie$
Net cash Income
105,334
64,250
Adjustments to cash flows from non-cash Items
Depreciatyon
Investment Income
Revaluation of investments
14
4,515
162,474)
2,007
(33,1101
333
15
29,135
32,814
Working tapltal Jdjustments
Decreasel(increase) in stock5
Increase in debtors
{De(rease}lincrea5e in credito
Net cash flows from Opera￿ng attivities
Cash flows from Investing actlvltles
Interest receivable and gmilar income
Purchase of tsngible fixed assets
Purthase of investments
Sale of investments
16
17
19
708
110,214)
18991
(10,723)
62,474
(45,923)
(25,8181
33,110
13,093)
(68, 174)
14
15
Net cash flows from investing attbvities
Net increasel{decrease) in cash and cash equivalents
Cash and cash equivalents at l Ortober
Gish and cash equivalents at 30 September
18,813
{10,980)
1370 265
1359 285
1378 098
1359 285
All of the cash flow5 are derived from conts"n*Jing oiErab"ons during the aljove ￿riOdS.
Page 18

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
l Accounting pollcies
ststement of complian
The financial statements have been prepared in accordance with Accounting and Reporb'ng by
Charities.. Statement of Recommended Pracb'ce applicable to charib'es preparing their accounts in
accordance with the Finanual Reportsng Standard applicable in the UK and Republic of Ireland (FRS
1021 (effective l January 20191 {Charibe5 SORP (FRS 102)), the Financial Re￿￿ng Standard
applicable in the UK and Republic of Ireland {FRS 102), the Co-operative and Community Benefit
Society'es Act 2014, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities
Accounts (Scouandl Regulations 2006 {as arnended).
Basls of preparation
The Soo'ety is a Public Benefit Entity as defined by FRS 102,
7he finanaal statements have been prepared under the histoHcal cost convention, modified to indude
certaln finanaal instruments at fair value.
The finanaol statements are prepafftd in steding, which is the funrtional currency of the Sodety.
Monetsry amounts in these financial statements are rounded to the nearest £.
Golng concern
At the time of approving the financial ststements, the Executive Committee have a reasonable
expectation that the Society has adequate resources to conty'nue in operakn'onal existence for at least
the next 12 months. Thus the Executive Committee contnue to adopt the g01r￿ concern basis of
accountr'ng in p￿parIng the financial ststements,
Crrtl¢al accountlng estimates and judgements
In the application of the Society's accounting policies, the Executive Committee are required to make
Judgements, estimate5 and assumpb'ons about the carrying amount of assets and liabiliues that are
not readily apparent from other Sour￿5. Tre estimates and associated assumpb'ons are based on
historlcal experience and other factors that are considered to be relevant. Actual results may differ
from these estimate5.
The estbmates and underlying assumptions are reviewed on an ongoir¥J basis. Revigons to accounting
estimates a￿ recognised in the period in which the estimate is revised where the revision affects only
that period, or in the perlod of the rewsion and future period5 where the ￿VIsIon affects both current
and future perioojs.
The Executive Committee conwder that there a￿ no ethmates and undedylng assumptions whlth has
significant risk of causing a moterial adjustment to the carrying amount of assets and liabillties.
Page 19

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Crltlcal Judgement - Residual value of housing propertles
No depreciation is charged on housing properties because they are maintained in a state of repair
such that management esumate the residual value of these assets at the balance sheet date is not
less than their net book value.
Income and endowments
Income is recogni5ed when the Society Is enb'ded to It after any perf0rnan￿ conditions have b*n
met, the amounts can be measured rellabty, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Soa"ety ha5 been
nottfied of the donation, unle55 performan￿ conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
'me of the donation.
Charftable adivities
Charitable artivib.es Income indudes resldents, and tenants, charges. Residents, income is c￿lted to
the ststement of financial ath"vities ft)r the year In which it is receivable.
6rnntsrecelvable
Grants relating to ￿venue are recognised as income on a systematic basis over the penods in which
the Society recognises the related costs for whith the grant 15 intended to compensate. A grant that
becomes receivable as compensation for expenses or losses already incurred or for the purpose of
giving immediate finanaal support to the Society with no ftjture related costs shall be recognised a5
income in the period In which it becomes receivable.
other tradlnq a￿VItIeS
Income from trading activities includes income from fundraisiro events. Incorne is received in
exchange for supplying 9￿}￿5 and ser￿￿S in order to raise funds and is ￿cogniSed when entidement
has Occu￿ed.
Investfftnt Incon
Investment income is recognised when receivable.
Expendlture
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised where there is a legal or
construcbve obligab.on to make payments to third parties, it is probable that the settyement will be
required and the amount of the obSigatson can be measurtd reliably.
AII costs are allocated be￿een the expendlture categories of the SOFA on a basls designed to reflect
the use of resources. Costs relating to a particular acuvlty are allocated diredy, others are
apport.oned on an appropriate bass.
Page 20

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Rai*ng funds
These are costs incurred in attracting voluntary income, the management of investsnents and those
incurred in trading activits'es that raise funds.
Chantable adTvities
Charitable expenditure comprises those costs incurred by the Society in the delivery of its activitie5
and services for its benefioarie5. It includes both costs that can be allocated dirertly to such activities
and those costs of an indirect natu￿ necessary to supwrt them.
Support costs
Support costs indude ￿ntral funth'ons and have been allc(ated to acbvity cost categories on a basis
cgnsistent with the use of resources, for example, allocating prowty costs by flwr areas, or per
capita, staff costs by the time spent and other costs by their usage.
Governance costs
Governance costs are those incurred in connection with the administration of the Society and in
compliance with consiitullonal and statutory requirements. These costs are indudd within charitable
artivib'es.
Taxatlon
As a registered charity with HMRC, the Soo'ety is exempt from corporats'on tax as all of its income Is
charitable and applied for charitable purkx)ses.
Tanglble fixed assets
Tangible fixed assets are Initially measured at cost and subsequently measured at cost or valuatron,
net of depreciation and any impabmient losses.
The cost of minor additions or those costing below £1,000 are not capitalised.
Depreciatlon and amortisation
No depreciation is charged on housing propertles because they are maintsined in a state of repair
such that the estimated residual value of land and buildings at the balance sheet date is not less than
ther net book value. The annual charge for depreoatton would the￿f0￿ be immaterial.
Depreciation is recognised $0 as to write off the cost or valuation of assets less their residual values
over their useful lives on the fotlowing bèses..
Asset dass
F￿ehOld land and bubldlngs
Fixtures and fitbngs
Depreciation method and rate
200/0 StraSght Ilne
Page 21

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Impaimient of fixed assets
At each reporting end date, the Society review5 the carrying amounts of its tangible assets to
detemine whether there is any indicatson that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to detem)ine the
extent of the impairment10ss (if any).
Fixed asset Investments
Fixed o55et investments are initially measured at tronsartion price excluding transath'on costs, an
are sub5equendy measured at fair value at each repo￿.ng date. Changes In fair value are recognised
in net incomellexpenditure) for the year. Transaction costs afft expensed a5 incurred.
stock
Stock5 are stated at thè lower of cost and estimated selling prf￿ less Costs lo complete and sell. Cost
comprises of direci materials and, where applicable, dirett labour costs and those overheads that
have been incurred in bringing the stocks to their present I￿￿'on and condition. Items held for
distribsjts'on at no or nominal consideration are measu￿d the lower of rep1a￿rnent cost and cost.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits helé at c311 with tjanks, other short-tem)
liquid investments with original maturities of three months or less.
Trnde credltors
Trade creditors are obligatrons to pay for goods or Se￿iCe$ that have been acquired in the ordinary
course of operations from suppliers. Accounts phyable are classified a5 current liabilities if the ScKiety
does not have an unconditional right, at the end of the ￿porting period, to defer sethement of the
creditor for at least twelve months after the ret)orting date. If there Is an uncondits'onal right to defer
setdement for at least twelve months after the repoth.ng date, they are presented as non.current
Fund 5trncture
Unrestrirted funds are available for use at the dlscretion of the Executive Committee in furtherance of
their charitable objeth.ves unless the funds have been designated for other purposes.
Designated funds comprise funds which have been set aside at the discrety'on of the Execudve
Committee for specific purposes. The purposes and uses of the designated funds are set out in the
notes to the finanoal ststements.
Leases
Rentsls payat4e under operating leases, indudin9 any lease incentives received, a￿ charged to
expenditure (Y) a straight line basi5 over the temi of the relevant lease.
Page 22

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Penslons and other post retlrement obllgatlons
The Society operates a defined contribution penslon scheme which Is a wslon plan under which
fixed contrlbutions are paid into a penslon fund and the Society has no legal or constructive obligation
to pay further contnbub.ons even if the fund does not hold sufflcient assets to pay all employees the
benefits relating to employee service In the thrrent and pAor periods.
Conlributlons to deflned contribution plans a￿ recognised in the stste￿nt of Flnandal Activltles
when they are due. If contribution ￿¥ments exceed the contributlon due for servlce, the excess 15
Cognlsed as a p￿payment.
Flnan¢lal InstNments
Cthsslflcauon
The Society has elected to apply the provislons of Sectlon 11 'Baslc Flnanclal Instruments, and Sertlon
12 '0ther financlal Instruments Issues, of FRS102 to all of Its flnandal Instruments.
Financial instruments are recognised in the Sodety's balance sheet when the Soclety becomes pattr
to the contractual provlsions of the Instrument.
Rec¢wnldon andmeasurenMnt
Baslc financlal assets, which include debtors and cash and bank balances, a￿ measured at
transaction price Including Iransattlon costs.
Baslc flnanclal Ilabllltles, Includlng creditors and other loans are InI￿allY recognlsed at transartlon prf
unless the arrangement constitutes a financiro transactron, where the debt Instrument is measured at
the present value of the futu￿ payments dlscounled at a market rate of Interest. Flnanclal Ilabilltles
dassified as payable wlthin one year a￿ not amortised.
Debt instruments are subsequently carrled at amorNsed cost, uslng the effethve Inte￿$t rate method.
Flnanaal Ilablli￿es are derecognlsed when the Sodety's contractual obllgatyons explre or are
discharged or cancelled.
Page 23

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
2 Income from donatlons and legacie$
Unrestrltted
fund5
General
Total
2024
Total
2023
Donatlons and legades,.
Donauons and gifts
Donations and gifts were all unrestricted In both the current and precedlNJ financial year.
3 Income from charltable artlvltles
Unrestrlthd
funds
General
Total
2024
Total
2023
Resldents, and tenants, charges
1552 481
1 552 481
1454 641
4 Income from other tradlng actlvltles
Unrestrl¢ted
funds
General
Total
2024
Total
2023
Fundralslng events
Fundralsing Income was all un￿StrICted in both the current and precedlng flnanclal year,
5 Investment Income
Vnrestrlrt
funds
General
Total
2024
Totsl
2023
Inte￿$t recelvable and slmilar income.
Interest receivable
Income from listed investrnents
55,404
55,404
31,046
Page 24

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
6 Other Income
Unrestricted
funds
General
Total
2024
Total
2023
Other income
Other income comprises Room Hire and Lunch & Refreshments income of £350 {2023 £540) and
Perth & Kinross Counol Covid-19 fundlng of £1,852 {2023 £nil).
7 Expendlture on raising funds
a) Investment management Costs
Total
2024
Dirert costs
Investment management costs
Page 25

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
8 Expenditure on tharitsble artivlties .
Artivlty
Artivity
undertaken
support
directly
costs
Governance
costs
Total
2024
Total
2023
Resident care
1421171
1533 329
1430 947
Unrestrirted
funds
General
Total
2024
Total
2023
Stsff costs
Depreciation and impalments
Nursing supplles
Stsff training
Garden maintenance
Food costs and deaning materfals
Council rates
Heating and lights'ng
Day to day repairs
Leasing of laundry equipment
Digital care planning
Covid-19 PPE
1,092,345
4,515
10,422
1,685
4,820
112,200
8,818
54,616
110,835
13,363
7,552
1,092,345
4,515
10,422
1,685
4,820
112,200
8,818
54,616
110,835
13,363
7,552
1,027,796
2,007
13,164
6,630
10,510
107,332
7,909
50,709
76,188
11,505
7,015
1421171
1421 171
1323 918
EI,533,329 {2023 £1,430,947) of the above expenditure wa5 attributable to unre5trirted funds and
£Nil (2023 ÉNil) to restricted funds.
Page 26

Abbeyfield Perth Society Limited
Notes to the Finanaal Statements for the Year Ended 30 September 2024
9 Analysi5 of governance and support costs
Support costs
funds
Total
Totsl
Basis of
Ilocation
Direct
rect
Genernl
2024
2023
Stsff costs
Insurance
57.972
10.393
57,972
10,393
54,765
9,639
Membership fee to
Abberfield Society
Telephone
Postsge and stationery
Miscellaneous expenses
Bank charges
rect
rect
Direct
Dirett
Direct
3.245
3.376
3,245
3,376
3,959
3,167
I,iio
13,737
12.308
12,308
Governance Costs
funds
Genernl
Totsl
2024
Total
2023
Audit fees
Audit of the finanoal 5tstem￿ts
Legal fees
Gire Inspectorate fee
3,810
10,536
13.780
13,780
10 Net Incomlngloutgoing resources
Net incomiry resources for the year Ind￿..
2024
2023
Audit fees
Depw3tlon of fixed assets
4.000
3,810
Page 27

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
11 Executlve Commlttee remtsneration and expenses
None of the ExwJb"ve Committee, any persons connectLYI with them, rtteived any ￿mUneratiOn
or benefits from the Society during the year.
Expenses reimbursed to nil memters (2023 - nil Mernt￿5) of EKwJtive Committee amounted to
Enil (2023 - £nil).
12Stsff c¢>sts
The aggregate payroll costs were as follows:
2024
2023
Staff costs durlng the year were:
Wages and salalles
Sctial security costs
Pension costs
1,046,756
69,034
986,392
62,384
1 150 317
1082 561
The monthly average numLw of persons (induding senior management team) emptyed by the
Soo'ety during the y&ir expres￿ as full time ￿Uly31ents was as foll(y*ts:
2024
2023
No
Totsl
55
56
43 (2023 - 44) of the al￿e employees paftiapated in Ihe Defin&l Contribubon Pengon ￿hemes.
No employee received emoluments of more than £60.0(M) during the year
The totsl remuneration costs of the key mawement F*rsonnet of the Scoety were £94,644 {2023 -
E94,867),
Page 28

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
13Taxation
Soo'ety is a registered charity arKJ is therefore exempt from taxa￿On.
14Tangible flxed assets
Freehold
land and
bulldings
Fixtures
and fittings
Total
Cost
At l October 2023
Additions
781,905
299,015 1,080,920
At 30 September 2024
781905
344 938 1126 843
Depreclatlon
At i ortober 2Q23
Charge for the year
At 30 September 2024
Net book value
19,207
291,022
310,229
295 537
At 30 Septern￿r 2024
762 698
812 099
At 30 September 2023
762 698
770 691
Page 29

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
15 Fixed asset investments
2024
2023
Other investments
315 565
292 169
Other investments
Listed
investments
Cash
deposlts
Total
Cost or Valuation
At i ortober 2023
Revaluation
Additions
Disposals
277,795
18,240
25,818
14,373
292,168
18,240
25,818
At 30 September 2024
315 565
Net book value
At 30 September 2024
At 30 September 2023
312 240
315 565
277 795
292 168
16Stock
2024
2023
Finished goods and goods for resale
17Debtors
2024
2023
Trade debtors
P￿paYMernts
11,765
10,941
18Cash and cash equivalents
2024
2023
Cash at bank
1378 098
1359 285
Page 30

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
19Credltors: amounts falllng due within one year
2024
2023
Trade creditors
Other taxab'on and sodal security
Accruals
30,226
J6,060
28,510
15,963
20 CreditOTS: amounts fallin9 due after one year
2024
2023
other loans
The Forteviot Tnjst has standard security over numbers I to 5 Wewlands Court and adjacent ground.
The loan from the Forteviot Trust is Inte￿$t free and only re￿Vable In the event the premises cease
to be used a5 a5SlSted liwng bungalows for the elderfy, or if the premises are disposed of to a third
paity.
21 Obli9ations under leases and hire purchase contracts
Operating lease commitments
Totsl future minimum lease payments under non-caricellable oK￿ra￿ng leases are as follows..
2024
2023
Other
Within one year
Be￿een one and five years
Over five years
13,551
54,204
12,552
50,209
The amount of lease payments recognised as an expense was £13,363 (2023 - £11,505)
Page 31

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
22 Penslon and other schemes
Defined contrlbutlon pen51on scheme
The Society operates a defined contribub'on pension scheme for all qualifying employees. The assets
of the scheme are held separately from those of the Society In an independendy administered fund.
The Fension cost charge for the year represents contributlons payable by the Soclety trj the scheme
and amounted to £34,527 (2023 É33,785).
23Funds
Balance at
other
30
Incoming Resources recognlsed September
resources expended galnsl{losses) 2024
Balance at
l Ortober
2023
Unrestrlrted fvnds
General
General Funds
1,208,047
1,623,229 (1,536,615)
18,720
1,313,381
Dulgnated
Future cydlcal and major
repairs ￿serveS
Development reserve
loo,000
1066 111
loo,000
1066 111
1 166 111
1166 111
Total tund$
2374158 1623229
1536 615
2 479 492
Page 32

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Balance at
30
Incomlng Resources recognised September
resources expended gal051(10s5¢s) 2023
Balance at
l October
2022
Unre5trirted funds
General
General Funds
1,143,797
1,494,864 (1,430,947)
333
1,208,047
Deslgnatsd
Future ryclical and major
repairs reserves
Development reserve
ioo,ooo
1066 111
ioo,otrt)
1066 111
1 166 111
1166 111
Total lundj
2 309 908 1494 864
1430 947
333
2 374 158
Future cycllcal and major repalrs reserves
It is the Executive Committee's opinion that amounts wlll ￿ requireil for future cyclical and major
repairs in the medium and long term. As required, an annual provision is made for future Lrydical and
major ￿paIrS based on the Sw'ety's obligatlon to malntaln Sts propertles.
Development reseTho
The Soo'ety seeks opportunitie5 to expand the range of care servlces Offe￿ to elderty people In and
round Perth and has created a development reserve for this purpose.
24Analy$l$ of net assets between lunds
Unrestrlrted fund$
General
Deslgnated
Total funds
2024
Tanglble fixed assets
Fixed a55et Investments
Current assets
Current liablllties
c￿dItOrS over l year
812,099
315,565
271,460
(60,743)
812,099
315,565
1,437,571
(60,743)
1,166,111
Total net assets
1313 381
1166 111
2 479 492
Page 33

Abbeyfield Perth Society Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Totsl funds
2023
Unrestrlrted funds
General
Designated
Tangible fixed assets
Fixed a55et investments
Current assets
Current liabilities
Creditors over l Year
770,691
292,169
243,140
(72,953)
770,691
292, 169
1,409,251
(72,953)
1,166,111
Totsl net assets
1208 047
1166 111
2 374 158
25Analy$l$ of net funds
Ati
Ortober
2023
At30
September
2024
Cash flow
Gish at bank and In hand
1359 285
1378 098
Net funds
1359 285
1378 098
Ati
October
2022
At30
Soptember
2023
Cash flow
Cash at bank and in hand
1370265
1359 285
Net funds
1370 265
1 359 285
26 Related party tran$artlons
There were no related party transactions in the year,
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