TINDELL, GRANT & Co Accountants R8gislered number SP1868RS Charity number SC010551 THE ABBEYFIELD STIRLING SOCIETY LIMITED Report and Accounts 31 December 2024 THE ABBEYFIELD STIRLING SOCIETh LIMITED Officers. professlonal advi5ars and reglstered offlco Independent Examingr¥ Tindell, Grant & Co Limited 6 Munro Road SpTingkers0 Slirling FK7 7UU Bankgrs Royal Bank ol Scotland 2 Pitt Terrace Stirtlno Sollcltors M8ssrs. J.M. & J. Mailer R8g58tered offlce 2a Kino Streftl FK8 1BA Rogl¥t•r•d number SP1868RS Charlty nUm￿r SC010551 Maln plac• of bu•in•ss 17 Allan Park Sllding FK8 2QG THE ABBEYFIELD STIRLING SOCIETY LIMITED Report of the Ex•¢utive Commlttee The execu￿¥& committee presents ils report and accounts for the year ended 31 Dg¢ember 2024. R•lerenee and adm1nlstratl￿ deta51s Charity name.. The Abbeyfield Slirfing Society Limits Registered charfty number SC010551 Pdnclple address.. 17 Ajlan Park Slirfing FK8 2QG The members of the exècutive commTttee who gpryed during the year wère as follows.. In accordance wth the registered rules ol the society ￿letIre& by rotation and. being elwJible. offer t￿Mselv8$ for re-election al the Annual General MeeLJng. Structurn. gov•rnanco and management The society operates under the rules of the Abbtyf191d Society and is r9gistered under the Co-c>peralive and Community Benefit Soaetles Act 2014 {r￿istered number 1868Rlsll. It is an exempt charity (Number SC 0105511- The liability of members of the ex&culive is limited lo their sharè holding of £1 each. Each year on8 third of the Executiv8 Comrnittee members are r8quir8d lo ratira by rotation and put themselves forward for re*lectior) al the N￿nUal General Meetlng. Suitable new Injslees are identified and appointed by the Ex8cutive Comrnittg8. THE ABBEYFIELD STIRLING SOCIETY LIMITED Report of the Exècutive Committaè Objectives and actNlties Th& principal activity of the society is to provide accommodation, Care and ¢ompanionship for lonely or frail elderfy people in accordance the aims and principles of The Abbeffigld Society Limited. This activity falls wholly within very sheltered housing. The society operates one propety in Stirting vthich currently offers Iwelve units for rental to those who require very sheltered accommodation. Achl¢vements and perfomianc8 Abbeyfield Sliding provides a very high standard Df independent living for our twelve residents in our specially adapted earfy Victorian house locale(J in the centre of Slirting, close to all the facilities of the town. The house is run by an Executive Committee consisting of a team of unpaid, dedicated Trustees and managed on a day lo day basis by 8 professionally qu81ified manager. An independent advocate regularly inleNiews residents and always records very high satisfaction ratings from our residents. We are regularly assessed by the Carg Inspectorate and 2024 was not an exception. During December we again achieved ratings of 5 in both the quality of care and SUPPDrt to our residents and in the managem&nt and leadership provided. The Care Inspectorate monitor5 our activities very closely and carries out unannounced checks every year. We wntinue lo maintain our standard of providing a very high level of care and support to our residents, individually tsilored to th8ir ngeds. 2024 ￿lcOMed new residents and the hous8 rgmained occupied. New residents brought fresh energy to the house and opportunity for new relationships lo fomi. Management carefully assesses every potential resident lo provide appropriate support and ensure our hDuse will becorne their new happy home. Residents of Abbeyfidd Stiding continued lo enjoy benefits of the new pavements all around the house, particularly those that can't use front entrance steps. Service users spend a lol of time socialising outdoors in all weathers. which positively contributes lo their overall health and general well-being. Repairs to the house ¢ontinued with wet room installation to all user bathrooms. Two new boilers were ritted during the second part of the year. Roof repair work in the front of the building trig9èr8d lights ie- wiring in the dining area. Our chairperson Janet O'Hare continuos to provido outstanding s6rvic8 and support to thè managèr, and board of Iruslees. Her enthusiasm for fresh ideas for improvement to benefit the service users and planning into the future strongly positions Abbeyfield Slirting lo wilhstsnd economic pressures. 2024 continued to be a yèar of very low staff turnover. It is a happy place to live and work thanks to caring staff and dedicated managtsmenl. House hosted several social events organised by the manager during 2024. Our usual Summer BBQ was replaced by the Hogmanay entertainment provided by students from Glasgow Conservatoire. Ma¢Mill8n coffee morning raised funds for a worthy cause. Allan Primary school visited residents and provid8d enjoyable performance lo everyone pres8nt. W8 w8re supporting young volunteers from tha local high schools as part of curriculum, together with mentoring a high school student via The Duke of Edinburgh Award. New volLJntgers joined residents for the regular coffee mornings. The house newsletter was introduced during the year, and time will tell if it remains a regular feature. THE ABBEYFIELD STIRLING SOCIETY LIMITED Rèport of thg Exocutive Committ80 The Ex8culive Committee and h¢)use management met monthly. face lo face durlng 2024. to dlscuss current affairs. Zoom conference faclllty was not Used this year as circumstances allowed physical presents. Our wèbsi18 continued gen8ral8 interest and we have a waiting list of potential residents W8nling to movè in. Wa are still looking lo invite fresh member8 to the board of tmslees and one new truslee did joln OUT board bringiro a wealth of experience from his current employfflenl. Ouring 2024 long semng executive memb8 journey with the Abbgyfield house in 2004 8cided to step d()bvn tarted her er molhef-in-law move(1 in. 'uILkly gol involved in supporting smooth running ol the premises. intèrvlewing 818ff and rtsidenls. supportlng board and rnanager in any way sh¢ Could.￿lS vgry carlng 8nd compassional& in n8lu¥e. She always lov•d meeiing new people anLI listening to their live StO￿eS, Impacted by the war and struggles ihat It brought. felt very strongly in providing r8duced companionship to the residents by meeting them règularfy 8t the coffee morning$ which she run right up unlll she r81ired Irorn the b08rd of Iruslees in 2024. Many 8eryice users rel8in8d Iheir memories boCaU5e was always eager to hèar their stories. She wgs incr8dibly patient and gentle In her communication. Until recently ghe was also serving as admissions manager welcomlng new and potential resident8, 8howing them Abbeffiold house and dolng other odd iob5. She created adm15slons form that is still used today. She rememb8rs a lot of ftjnny Instanc&$ during her lirne wth Sllrtlng house. We. as a board of Iruslees. thank h8r for her Immen$8 conlribulion to tho smoolli running ol th8 opgra1￿nS. har adv￿* and support. W8 arelgoking forward lo k&eping in touch wilh and me&ling her 81 the diff8r8nl ov8nls organlsad 81 lh8 housè. Flnanc• 2024 has been a very 5ucce8sful financlal year. Our ocGup8ncy rata wo8 just under 99%. Our expenditure was down on18St y•ar (excluding the m8lor garden upgrade) due lo careful manag8menl of cosls. Tho lumover of re$ident$ ha5 given us a much higher assessment ol care needs whlch has r•BL￿ted in a significant incrbase in income from Sllrfing Council. Tog&lh8r Ih8s& have all0￿d us to 8ccumulal6 a slgnlflcanl yeBr end surplus. We are planning lo use IhSs su¥plus lo substantlally improvo the residents, la¢ili1Ses In the fom ol a new o8rd&n room which our r&sid&nl8 can use, Our c8sh Posilion remains strong as we move Into 2025, and we can G￿fidentIY l(x)k forward lo malntainln9 our service ond standards 88 we navlg81e through tho difficult lime5 in the Global economy. Thanks lo the hard work of our inhouse ear8 leam and gffectlve managemenL Abbeyfield Slirling continues to provid& $afe, warm, and eomfortablg gnvironmenl to our residents and staff. At the 8nd of the year tho Charity had net ?ssels of £655.038 of which £369.37218 held in three unrèslri¢led reserves and £285,666 is hgld In a rèslricled reservo. Delalls ol the res8rves are shown nolgs 13 10 15 01 the 8ccounls. It is the policy of the society to make transfers tomrom designated reservgs lo equate the Gener81 Charitable Resarve plus th8 Capital Reserve to the nel book value of thè PTOP8rty. The remainlng revenue and major repairs r88erves. are Ihtr ITee reserve5 of the society, represent funds 8rlsing from past operating results. The Capitsl reserve 13 a restricteoperative and Community Benefit Societies Act 2014. 2.3 Tumover Turnover compr4ses rentsl and service income receivable. 2.4 Flxed assets, housing land & building$ Housing land and buildings are slated al cost. The cost of properties is their purchase price together with incidental costs of acquisition including interest payable. Interest payable is capilalised by applying the society's cost of borrowing lo expenditure during the conslwction of the property up lo date of Practical completion. Housing properties in the course of construction are staled 8t cost and are transferred into housing properties when completed. 2.5 Depreciation 2.5.1 Houslng land & buildiTngs SHG asslsted schemes 11) Depreciation is provided on the cost of freehold buildings,. lill For that portion of the cost financed by borrowngs or from the societys own or other charitable resources, a charge is made for depreciation on buildings at 20A per annum. 2.5.2 Fixtures. fitting5 & equipment Depreciation is charged on the reducing balance basis at 15Vo per annum. 2.5.3 General A full yearfs depreciation charg9 is made on fixed assets in the year that the asset is brought into use and no charge is made in the year of disposal. THE ABBEYFIELD STIRLING SOCIETY LIMITED Notes to the Accounts for the year ended 31 Decomber 2024 2.6 Social Housing grant and capltal reserve Previously, where developments have been financed wholly, or partly, by a Social Housing Grant ISHGI, the nel book value of those developments has been reduced by the amount of the gr8nl receivable whiGh is shown separately in the balan￿ sheet. Provision was made for repayment of SHG where the property is expected lo be sold in the foreseeable future SHG in respect of housing properties in the course of constnjclion received in advance of expectation is shown as a current liability. In accordance with the reporting requirements of Charities SORP IFRS 1021 the Social Housing Grant has been transferred to a capital reserve. This reserve is not being depleleé as the grant is fully repayable on the sale of the property and has been fully relnstaled in the year. 2.7 Flxed assets, flxtures, flttlngs & equlpment Assets donated to the society are not included in the balance sheet- other assets are included at cost. 2.8 Future ¢yGlical & major repalrs The society manages only very sheltered housing and thus there is no contribution from Rent Surplus Fund lo major repairs. It is the executive committee's opinion that amounts will be required for future cyclical and major repairs in the medium and long term and therefore amounts previously set aside as provisions have been carried lo designated reserves (Note 141. Amounts similar lo those provided in previous y8ars will continue to be set aside as reserves in future years. The amounts so set aside a￿ based on the societls obligation lo carry out such works on a continuing basis for the future cyclical maintenance and major repairs of its property, based on planned programm8s of works for which SHG will not be clained. 2.9 Allocation of expenses Expenses are allocated lo management, repairs and service costs on the basis of the proportion of time or other relevant fa¢lors attributable to these activities. 2.10 Monetary donatlons & genernl charltable resorvg Monetary donations lo the society are credited to the income and expenditure account on a receipts basis, and balances unspent are transferred annually to the Major Repairs Reserve. 2.11 Corporation tax & VA T The society has charitable slalus and is exempt from Corporation Tax on the income it has received. The society is not registered for VAT. Accordingly no VAT is charged lo residents, and expenditure in the income and expenditure account includes the relevant VAT. 2.12 Interest rocglpts Interest is recognised in the accounts when il is received. 10 THE ABBEYFIELD STIRLING SOCIETY LIMITED Notes to the Accounts for tho year ended 31 Decèmbèr 2024 Opgratlng surpluslldeflcltl 2024 2023 This is stal8d after charging.. Depreciation of own8d fixed assets Independent Examinerfs- fee Independent Examinerf5 - olher $8rvices Travg18xpenses & sundry reimbursements paid lo 1 officor of the Society who was not an employeo 12.385 1,900 1,146 116 12,398 1,800 1,014 116 Income & expendlture from lettlngs 2024 2023 Income from lettlngs Rent rec8Svable n81 of identlfl8bl8 $9ry1c88 charges Gros$ rents recelvable Le88.- losses arising frorn vac8nci8$ & absences Nel rents r8c6ivablo 290.449 290,449 12,6111 287,838 267.223 267,223 12,3891 264.834 Totsl Income from letting$ 287 838 264,834 Expondlturo on18ttlng actlvltloty Services Management Routine rnalnlgnance 162,386 18.430 11.826 192.943 17.074 14,497 Total expenditur8 on lettlng$ 192,642 224,514 Oporatlng surplus onlottlng actlvltlos 95,196 40.320 Income and eX￿ndIture from Care provslon 2024 2023 Incomo from Garg provl8lon lTrhouse care Other income 68.639 50 69,259 6,440 Total income from care provislon 68,689 75,699 Exp8ndltur• on cara provl$lon Caie staff costs 100,417 106,548 Total expenditure on care provision 100,417 106.548 Oporatlng deflclt on caro provlslon 31,728 30,849 THE ABBEYFIELD STIRLING SOCIETY LIMITED Notes to the Accounts for tho year ended 31 December 2024 Vacancy1066 2024 2023 Residents, charges lost through vacancles and absences 2,611 2.389 Houslng stock 2024 2023 Units under development 2024 2023 Units in management Very sheltargd housing - number of bed spaces 12 12 12 12 Employee costs 2024 2023 Wages and salarles Social security costs Other pension costs 177,917 9.384 4.973 192,274 178,796 10,110 5,041 193,947 No employees were paid mora thon £60,000. Full lima Part-lime 11 Numbarof omployo9• durlng th• yoar 11 13 Averag• nvmbor of •mployg08 durlng the yoar IFTE) 12 THE ABBEYFIELD STIRLING SOCIETh LIMITED Notes to the Accounts for the year ended 31 December 2024 Tanglble fixgd assets Freehold land and bulldlngs Flxtures, flttlngs & equlpmont Total Cost Al 1 January 2024 Al 31 December 2024 615,374 615,374 33,935 33,935 649,309 649,309 Depreclatlon Al 1 January 2024 Charge for the year Al 31 December 2024 222,621 12,307 234,928 33,417 78 256,038 12,385 268.423 33.495 Ngt book value Al 31 Oecember 2024 380,446 440 380,886 Al 31 December 2023 392,753 518 393,271 Freehold land and bulldlngs.. SHG assisted schemes Cosl-compleled schemes Depreclaled cost Capital reserv8 Al 31 December 2024 380.446 {285,6661 94,780 Al 31 December 2023 107,087 10 Debtor• 2024 2023 Prepayments 4,401 6,411 11 Crodltor$.' amounts falllng duo wFthln ong year 2024 2023 Accruals 5,123 5.051 13 THE ABBEYFIELD STIRLING SOCIETY LIMITED Notes to the Accounts for the year ènded 31 Decemb•r 2024 12 Share capital 2024 No 2023 No 2024 2023 Alotted, called up and fully pald.. Ordinary shares of £1 each 12 12 12 12 13 Capltal reserva 2024 2023 At 1 January 285,666 285,666 Al 31 December 285,666 285,666 The Capitsl reserve represents the Social Housing Grant which is repayable on the sale of the property. It is a restricted reserve. 14 Deslgnated reserves General charitable reserve Major repairs reserve 2024 2023 At 1 January Income & expenditure- costs incurred Income & expenditure- transfers 107,087 73.470 180,557 199.739 112,3071 (11,7421 {24.049} 119,1821 30,000 3D,000 94,780 91,728 186,508 180,557 The balance on the general charitsble reserve comprises funds received from Abbeyfield Headquarters when the society was founded and also a transfer in 1995 from the major repairs reserve. The balance at 31 December 2024 represents the value of properties nel of depreciation and grants. 15 R•venue r8sgrv• 2024 2023 At 1 January Surplus for the financial year Transfer to designated reserves 142,963 69,901 130.0001 137,182 5,781 Al 31 December 182,864 142,963 14 THE ABBEYFIELD STIRLING SOCIETY LIMITED Notes to the Accounts for tho year ended 31 December 2024 16 Reconclllatlon of movement In sharoholders. funds 2024 2023 At 1 January Surpluslldeficill for the financial year 609,198 45.852 622.599 113,4011 Al 31 December 655,050 609,198 17 Comparatives for the Statement of Financial ActSviti•¥ Revenue Resèrrfè Capltal Resèrvè Designated Rèserves 2023 Total Incomefrom: Donations and legacies Investments- Interest receivable Charltablg activities Income from lettings In-house care 2.750 2,750 264,834 69,259 264,834 69,259 Total 336,843 336,843 Expenditure on: Charitsble activities 331,062 19.182 350,244 Total 331,062 19,182 350,244 Net incomel(expendlturel 5.781 {19.182} 113.401} Transfers Net movement in funds 5,781 119,1821 113,4011 R8¢onciliation of funds: Total funds brought forward 137,182 285.666 199,739 622,587 Total funds carried fobward 142,963 285,666 180.557 609,186 15 THE ABBEYFIELD STIRLING SOCIETf LIMITED NotOS to the Accounts for the year ènded 31 December 2024 Pres9ntatlon currency The financi81 slalemenls are presented in Sterling. Rolated partles Durfng Ihg year exp8nsgs of £116 ware pald to the Treasurer. 20 Prlnclpal place of bu8ln•88 The address of the companls princlpal place of buslnes$ and reglslargd office Is.. 17 Allan Park Siirlino FK8 2QG 16