ABBEYFIELD BREADALBANE SOCIETY LLMITED SP18SORS (CompaDy Number) SC011281 (ChaTitY Number) ACCOUISTS FOR YEAR Ehl)ED 31 DECEMBER 2024 ABBEYFIELD BREAJ)ALBANE SOCIETY LLTrttTED ConteDts Page Pages Report of the Executivc Conunittec Report of tbe Auditors to the Membcts 8-10 Stst¢ment of Fitkaucial Activities Balatlce Sbeet 12 Notcs to the Accounts 13-19 ABBEYFIELD BREADALBAII"E SOCIETY Lll¥llTED Report of the ExecutiTre Committee The Executive CorttTnatttt submits its fOrty.n￿l1h rwrt fogth with accounts foT the ye4r mled 31° December 2024. The finall¢Ral staternenls cowily with the Chatities aodTnJ5tee lllvmeiit (&odaud).4ct ?005, tlLe CIHritits Accounts (Scotland) ReguIatioN5 2006 {a5 amezthj).. and.Accounting and R￿ortIng by Clwititss: Statement of R£coTnmendtd Practice applitable to charitie* p¥rparing their ￿ounts in accurdance with the FinaI2¢i￿ Reporting Standar(i applicable in the tJK and Republic of Irela[￿ (FRS 1021. Objectiyes The Society protr'ides public tKne5t thn)ugh the pro￿75701) of quality acconrnodatioL Companio￿bIp for loncly or frw"l elderfy people. Ei¥bt IOOTns ￿'1th]n EsLdale House aEe avaijablt forthis pllrpose. The Exrcutive CoJEmJittrt seeks to public bellefiLby meeting the nee4Ls of i￿￿p￿sC￿t alld fiLtute rtsidents th￿￿g￿ selting cbar(Tes at le*cls *'hiclL Teflect curtent ope5ati￿g cost ￿hlIst mak2]¥ d provision forEX)teAiial large maillten£ncc co)rts. tefittljishrnart alld ￿laCeMe1]i WttbÉn this overdl ￿ the EKe¢uti¥e ConLmittee endeavou¥s to set chari.res al levelo It believe5 art affordable b). all potential Tesidcllts so that no OAe is d¢prived of ao Ab1￿Yfie1d place because of their limityl meaD& If this aim cannot be m¢t %wLlkout pre]￿iCIng 50WMt financial stewardship other optio￿4 ate investigated forassigling financially distrsstd residents. Ln patticular. every Ksident entitled ￿ clajm public supwl is eDcowag¢d to do so. Day to Day Mallage]rktDt A SUPEX)rt plan is drawn for each TC5idL7rt ard is tr¥i¢wed at Ic&st apuually. Daj.tsFday rllallage￿eTht of the House is delegated to thc H(xw Comrnktttc (a su1Trcoll￿Jitlrt of the ExecLÈtive Committec) whicb ]neets ￿gUlarlY between EKwive ConMiittee Tre£tillg5 and liaises ¢losely with the HoiLse Ma02ger and othe". staff. All staff Tecetve appropriate Fitst Ai4 Fir¢ Safety and other relevant ti71n1￿8. lembers of t￿ Executive Committec utlderth tnaay exe¢utiV4 &thniDistrativ¢ and p￿tirnI fullctiWS 10 enable the S(*iety ￿ provide fir5t55 thc ro&Jl fro(0 E5kd4lc. .1 4¢ l(xaE L&-lele Club )ei'eraI ￿l$ll8 ii.hich ale miJcn en10y￿ tjy residents. Before thtre outing to ÉL-B4Ttratu Arti Lentre for tbc Christst￿& psr..lDmi￿e. whic trsidenLs ¢nio}'ed._An outip£ ia July io F*rts￿lI, Arts: toliow'cd bk. aftErn(*)n all oiJtiDg ill N0vern￿r ttj Karelia H¢)use also appffciatrd bj resid￿￿ .L￿. A n￿llb¢r of wents held &t Eskdal-. ThL3'_ i￿l￿d-￿ an Opcn Day a￿1 :lfttmoon T# io June for -11 as and Nolii sid¢7Jts. their %n]ll￿ and friends ￿ W- tt#t5 Th￿3 wes I'eTr Enjoved b). gll as the -taff Fne1￿ had prqJ2r*l delicious and t)usicaA' V+"as ptoTrided In No%tmbe.r w Ot1￿ again-Kpand4 L)ur small firE*ctk5 diqpl&y twthe bv &ttLLthiu( guests for c*￿￿péS, mulled v,n¢ and catLThlr￿C￿l fron at0￿stiC UXLisiC81 perfoThner5. The main TefuTbiEhTrYnt expctxlA"utye in 2024 upgrgth"tE the fiye p￿21 Ettd f.tt gaf.xy >ystrrn throughout tb¢ huilding.. that it now 0[￿￿¢* IhEougii 111￿*)0￿L A m-￿, I￿ller inst311¢d io the cO￿h 1Sou%. olle ofthe IoDg-rrn wstdents th.ed inApril &nd 8Th)th￿ moved tt) Ék k)*&l ca￿ HO￿￿ &s E¢rnerA]s could no lo4gcr bc tnet at Lskdaie. Ott- reSide￿t Inoi'ed in at the a)ti of May aod Rootll 8, thc STSite of two TDOERS, was oc¢upieé bN a CO￿p}e on a re>Tri￿ basis uuring Augyjst atsd Sq)knibcr. It was t8p￿1￿1￿ to w.tiv- th- tol'.tswing Lessag- of apprwiatsonfrom thA5 "ollple: like rellFots Irnd}YTrur I￿V.. muc4'-.ar of £5.627. This of L?i.~:01 in a good Ou￿0￿¢ oyerall. Tht reftvrs.. (il a h¢4l£hy gN'er4oe (Kcv¥allc!" for tht s'woi 92.5°/0' (li} above b￿dg￿l[efi￿bi5lll￿e￿-oSt5 of -152¢A frJr a lire alarn] Pisrm gnd £3:30fj fror boiitr iti the Coach Hou42: liiÈ) 2bov- be￿auSe nf 10 wTride ¢oFw for gMthr1ime fot the e exLeDded ¥Laff %.-k I￿"t th¢ on-goi￿￿ grcatr attd 0￿[ ti]ne required tct nin verv W¢L:ULtDJd&'iii)n: and li*) bekn. b￿age.: C￿c￿. genernl Main￿nan.¥ ¢OSL8. The Sncitts. &ims to keqi ai Icaa enoughwthiD the Genelal ReEeTres to )IlPPOrt six mollth8 of in tbe ofthe ￿l￿_¢￿-Y ?f avcD low QC¢UWJ B&.ed on the.￿ a>it> the C.omnitr tstimatcs the￿ would be itE thr reoion of £90948 fLThr 2.J2i (tF£ e4u14"￿t[]t cf 6 m.- ruJtsl ineomc) IT 1.8 nIt*￿Il tsj collhnTL tkar rjjis allkount LÉ ayadthle >ithin Re5-rnes. Tbc Sociew to keey the House ¢thi¢iD-v2lopnMit£nd ReseTh'¢ at least atthc balan￿ of thc - t￿rM iIi.v¢Emenii held ts proiec: agaitiit l&rge ryair w'JTk ￿hl¥ll 7iay to bc uttdcrtakrn i the ￿￿re. and has b-eD abse lo Lbitry tlys"".r the carrent tht closiRg rscry"cbcing i66.C.16 (21J22 _ £6j:-6Jl- ABBEYFIELD BREADALBANE SOCIETY LIMITED Report of the Executive Committee (Colliinued) A third smaller Nerve entitled the Cornfort Fund is held for S￿ oThfi￿ ￿tti￿tte5 and frivo]itie5 for The residents. There is llo specific polity for tbis reserve. but the bala￿¢ (topped trnm donatiOTLS) &s of the year ettd of £1.636 (?023- £2.000} is considetEd 5￿cient The Execulive Cornmtttee aLw dccide¢ Sn 2018 to esthblish a-S￿la1 PrDjccts- re5eEve in which any Gibson Trust donations wilt At the year e￿1 the Twtwe bad a bala￿t of £13.6l5. The Executive CornTnitw coL8iderthat the 5tat¢ of affa￿5 t>f the &)ciety Satisfactory. atsl thatthe S(Kiety continues to b¢ a goitlg concenL Dwite the oC￿uP8AcY ra* of 9? for 20J? . the maKn continui￿g iswe remains securing an occupaTW level which is 5uslainablt ID the medium to longer ter￿. The Executive c0￿Mittet therefore ¢onr2nuc ￿ activel* putsue tthtsa] options securing aT>d maint&inillg a viable occupallcy ra Plans for the FuturE The installation of a SPTinkler sY5re￿ thr0Ugkn￿ Eskdale is still under¢otssiderdtioll however wc tsking fLuther advice from expens in this regard Il'e w￿rt to be satisfied that this is definitely thcbts-t COUE5t of actioTL esp¢cially in vitw of the ton>iderable ¢ost a￿1 ￿hea1'al inTholNed. The insiailation of ? digitsl phon&teleraTe system and d(M)IcW System will be completed in eaTly 2025 at a cost of £6,700. DuT]ng 2025 energy costs will begn inttttsing very substsDts"ally as the current five.yeJt contracts for g&s aTLd eltetiicity come to end. Costs in a yearare anticipatrd D) it￿eas¢bY 65-70Yo. Upgrading the facilities is also apriority for2025. Strneture, Governa￿£¢ aryd mall*gen￿￿t Th¢ S(Kiety is registered &8 a"CTropetative atsj comrnL￿Èty Benefit knicty- utuJetth¢ Co-opcrati¥e and CommEmity Benefit s￿letics Aci2014. It is an exety¢bafity. The So¢iety is a150 TtgisterEd wtth Socia] a￿1 knial WO￿ lllwvement kntland (cotEmwnly called '%be Care In4>C¢totate") as aprovidrtof Housing Skwrt Setyices. The ￿lemberS of the COnLmittte aT¢ as Statedbelow. All Uk¢Tnbus of the Co]nmittee are %'Trluttietr5. Th Executive Committee, whicb geneAlly has 8 to 12 Djcmbcts, adEDI￿sters the Soci¢ty. The Colnmittre as Ir&st quarterly. The rneEllbers SPEcsfic respotsibtlities Visit th¢ hO￿￿e conlltktujicate infoTll￿lly oron a seEni.forn￿ basis regularlv be￿etn meetiT]g& The Cbairrnan is 2PFrf)lllt￿I atthe AnFLual General Mttting olthe Society aDd has overall rewn517>ilitv for the owions of the Society. Ntw metnbeKs of the COThTtEittee atE tratn￿ by the ¢liSfing of the ¢otivnitt£e as to their lryal obb"gations urLderchartty and ctsmpatty law. the Sei)tti5b Charlty Regulator's g￿ldance on tnEStee dutics, the function of the ¢QJD￿l￿¢¢ attd th- de¢isA¢m-m&king prnce￿. ￿cent finaD£i81 perforrnance and plaDS for the f￿￿re. Committee ￿e￿bets are encourats¢d w attend 8ppropriare cKtrTnal tsaiDiTrg evcaxts wheTr th¢se will faci5itstr the l￿de[￿king of thcir tDIc. One third of tkLe Mcmber5 of tbe com￿￿tte¢ ￿￿te by rotstioll an( being both williD8 and c5igibie. offer themselves for Trele¢tion at the Annual Getseral ￿l￿tillg. .4BBETrTtELD BREADALB.4NE SOCIE IY LDIITED Report of the EIecutive Cojnmittee (ContIttu￿) 48me .4bbe'Nfieli 3r¢adalbanc SNicty LiD)rth COmpa￿Y R￿l$tr&*I0￿ LNwllber SPI850￿Sry￿ 11 7S: Registered OffJcE Solicitor Solic>tot5 ii .&tiLoII Road PiEI(Kruy PVI 6 iBU of Swt18d ￿0[p￿te I£0 FoiJErtaitLbri(tge 9PF SeTllor Stsrnthry_Audito Gill -pie IDVknrariTh- & Co. LI￿l￿d 32 Lcilj= ￿tre-l Blairgo￿lIe PHI0 6AW .4BBEYFIKLD BR￿￿ALB￿￿E SOCIF.Tr Lt%llTLD Report of the ExeclltiTre Committee Rel*ttd Parties NO￿ of our ￿5[c￿ teceive rem￿t￿lOn or other benefii fiDm theiT ￿Ork uith the .4ny cotutttion b¢twern a committee tntmLvor s-ttior]J)atkag¥ i)1 tt*..hartt! with an> bkn5inckfi with wkn"¢h thc tradth- mustbt to Exc¢tsii%'e Co.mmittec in thr sw way &5 other¢olltracbJal reiaiionsbip ￿1th a relatrj - 2025 l>alc .4BBE*TILLD BREADALBANE SOCIETY LLMITED Report of the Auditors to the Members Opinio We have audited thc fiTTrallciai statements of Ab]Kffjeld Breadalbaue Society Lirnited (the "charitable companv") for the year endcd 31 December2024 ￿￿1¢￿ comprise the of FiJ)Rn¢ia] Acttvities, the Balance Shtet and notes to tbe finanEial s&tc￿cnts. The rewrrittg fi3rnewo￿ that ￿ bee applied In their prq>aratiott is applicable law and thc UnFtcd Kingdom A¢coL￿(lI￿g s￿d￿nI& includillg 102, The Fillancial ileporti￿a Siarxlard xtt the UK aEKI Republic of IrElalld (UnitrdKillgdom Generally Accepted AccuuHbng Practice). IT] OUT opinion the finaT]Ctal statemct]ts". give a t1￿C fair view of the sl* of the charifable cow￿5 &tTaiTS a5 at 31 December 2024 and of its Encome and txprkn for th¢ vearthen end￿L. ha￿¢ bcen Pro￿[Y pry8r&J IR accotd&nce with United Kingdom GeneRTly Accepted Accounting have been prepared Èn accordance with the Eequirements of the Cowies Act 2(X>6, the Charitit5 and Ttustee Investtnent (Scotland) Aet 200) a￿d R¢gutatioT] 8 of the Clwities Accounts (S¢otlaDd) Regulations 2006 {&$ arnend¢d) Bxsis of OPiDao We conduttd our audit in a¢cordance InreETrational StsTKlards ou Auditing (UK) (tskn. UK) 8nd app]icable law. responsibilirie8 foi tbe audtt of the fiT2ancial s{a￿ents section of OLtr report We are ind¢p¢Ddent of the ¢oFnp9￿Y in accoYdan¢¢ with ethtcal requint￿￿ts that art relei'ant to ouraudit of the fiD8ncial stal£meTrts i the UK Tncluding FRC'S Etbic21 Standard and have fuifjlled out other ethi￿￿ wllsibilities in ac¢ordaoce with thE5e requirem￿1& We be]ieve that the alldtt evidence we bave obtained 18 SLtfficieoi aTbJ appropria￿ to provide a basis ft>r (NJropinioEL Conclusions relattng to goljjg contern In auditing ttLe fiDattcial sratelllents, we have concluded that the diTECt(>T5 use of the goilkg concem basis of accounting ￿ the prepwatiory of the financial statemcn¢S Is tipprOp￿Te. Ba%d on the work we have perfonne¢ we have ]Trot tdct]tificd ally maierial uncenaiDtses rt]aÈin¥ to events or ¢oDditions tha1 individually or colltttiN'ely. ffjay cast significant doLEbt on the ¢haritsble compally's ab￿Ety to continue as goillg cowem for a peri(Ml of ai leagt ti¥elve m(Trnths when the fItwKi￿ statenThts atv authoIised for issut. Other infonllation The other ij2f0rn￿tio￿ eollwti￿5 thc Ènfornjatioa iucluded the 8]mual repor4 other than the financial ststemcnts and ottr a￿lIE0￿S rerK>rt th¢￿tL The tnLStees alf TE5WDsible for the other iafoTmation. Ot]r Opillion on th¢ finaucial state￿￿￿ts does not coi'tt thc other infr*rn￿DC*ll an￿ txcept ￿ the extent otberwise cxplitiuy staled in ourrqK)T4 we do noi expttss any forni of &s5ur4nce eonclLLSiOll therron. In comtection with a￿JIt of the financ1￿ s(atcmw our r￿￿￿￿Ell￿ is to the other information and, doojg so: consideF whcthcr the other irtfoTTtration is Jnatertally iE2consistcrt with tbe tJnancK statCTneats or ¢)ur knowledge obtsincd the audit or appears to be EDateria]ly ￿]&thted. If we idclltify such rnaterial inCOELSiStencics or apyare￿t maietial ￿lS511￿mell￿ we are requitEd to det¢rrntJ whether thctc is a ￿￿erIal mis5tatmeDt the financial sratrmthts or a material tilisstatyneat of the other Inforrnation. If, based on the WO￿ we ha￿'C wfotme(I we concltsde that there is a mate17￿ misstatemrnt of thts other 1nforn5ati￿ we alC￿ulrcd to reportthat We hav¢ ]￿thiDg to rq)ort in thls TEg ABBEYFIELD BREADALB￿￿I SOCIETY LIMrtED Report of the Auditors to the Members (cont) OpiDiOnS Oll Otlker matter5 prtwibed by the Cowpwties Act 21M16 In 0￿r opinio[4 based on the wDTk Lsndukn in the course of our audJ"L th¢ infornMtioR given ill tbc ExecutiTre Co])rnittee B4￿rt for the finttuci¥41 year for wbith the fin8aci81 statements are pEryared is consistrnt with the fi]MncÈal stttrments"." at the EXeC￿l￿￿'e CoTnmitLee Rcport been prepared in accordw with applicable lega] requirem¢nts. Matters on which we are rtquired to Yeport by ex¢eptiott In the light of the krtowledge aE]d vnderskzndiDg of the chaTStsble cornpany ond its ellvlr0ntt￿llt obtsined iti thc wurse of the audii we have not idelltificdmatrrial missrateADents in the Executive Q)r(unittee ReporL We have nothÉng to ¥eport in rwt of the follo￿l￿g ￿￿tt<[S Vi'here the ConxpaDies Act 2006, the Chantits and Trustees Inve5ttncnt (SCO￿0) Act 21N)5 alld the Cljatities Accounts {S¢otland) Regu]&tions 2(X)6 (as omended) requiTC us kn report to you if, in 0￿0P1n10ll: ad¢quate accoLinting records have aot been kepL or the financial sra*ments arc T￿t in agteemettt the accounting records and reDJrnS" or certain dis¢losures of ttustees. renu￿￿￿tion specifiedbv law are notmth" or we have not received all the infonti*k¢m and explallations we Eequire for oui audit Respon5Abilfties of trustees As explained more fully in the Executive Conirnittte StstcrnenL the tn￿¢t$ (who are a150 the director5 of the ¢haritable company for the purposes of companv law) Trwnsible for the preparation of th¢ finanGia] statements a￿d tor being ￿tisfied thai tha. ￿l'e a ttLte aDd fair view, and for such int¢rnal contn)I n preparin8 the fillaT]cial statemenL% the mJs'tr&s are [￿)￿￿￿trIe for &wsing the cottwany's ability to conullue as a going Concer￿ disclosing, as applicablG rnatters related to goiug cO]￿ern a￿d uslng the go]Dg conceTn basis of accounting ut]less tr irusteC5 rithcr itne￿I to liquida* the eomydny or to ce operntions, or have EJO reaJi#i¢ altrrnative do so. Auditor's reS￿￿5]bIlitieS for the audit of the fjDTr£ial State￿ellts We haye bccn apwintcd as audiror tÈnder section 44(IM¢) of the C&￿ItieS and Tnt5tee Investmfflrt (Scodand) Act 200) and under the Companies Act 2006 aDJ In accordallce with the Acts aad leY2nt regulations ￿ade orhavillg effe¢t thereu Ourobje¢tiw¢s are to obtaiD rea$0￿￿e asS￿rdn¢¢ about whetherthe f￿￿￿la7 statcllkents as a wbok are free from material Tlli*statemetti ￿hether due to fraud or ut &￿i¢￿'S abtlity to coniinue as a going concern. There we no erial assumptions Jnade in the prepatatton of the a¢¢ounts. With respecito the llext rqJoTting perto4 the yur fflded 31 December 2024: the most5igDificanl of wicerlainty affects the Society is tht letrel of rellrat illCQTne which is achie￿￿le, &s this is largely depeud¢llt on the ulthown facby of obl￿ning future resideDL% and to a lesser degree the bealth of Clllrent j￿Idents. (b) Income r¢¢ogwtson TEunover retowscd uJTrdercharttable activiti&% COEtJPr]￿ of Telltal alld service incoflle ceivable. All inCOll￿ is reCogn￿d 0￿C thc SoGiety has eatitl¢mellt to the incom4 it is pTDbable thatthe iuGtsm¢ will be Ttteived aDd the attkount of receivable can be measuwl reliably. Dots￿10￿$ are recogn￿￿ Whe￿ the &)ciety has been notified in WEÈting of iK>ththe ￿￿OUEtt alld settlement datc. Interest oll fu￿d5 held s)ll dew5it Js inCl￿ded when ￿LJVable and thc atllDUllt bc measured liably by thr kniety,. this is Dorm￿lY upott notifieatioll of the intetest wdid orpayabie by the {e) Expenditure recogiixtion LEabi]iti¢s fiEe re¢ogtiised as expendittur as soon as dMe is a legal or coLsttu¢uve obligation eommiuing the S￿le(Y to thai LXpendIt￿e, it is prgbable that settlement be Eequired and th¢ amoullt of the obligatioD ￿eaSurEd rellably. 13 ABBEITIELD BREADALB￿N￿. SOCIETY LLMtTED Notes to the Acco￿llts (coutinued) (d) Deprviation No depteeiatioa beell provided against the costoFthe Herittblt Property. PFON'iSiorÈ fcpr deprttiation on fiLrDtshings w&$ njade in earlier)'ears bui the decision was ma