Charity registration number: SC011281 Company registration number: SP1850RS
## Abbeyfield Breadalbane Society Limited
Annual Report and Financial Statements for the Year Ended 31 December 2025
## **Abbeyfield Breadalbane Society Limited**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Executive Committee Report|2 to 7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11 to 24|
## **Abbeyfield Breadalbane Society Limited Reference and Administrative Details**
**Executive Committee** Prof Andrew Calder, Chairman Dr Alistair Keddie, Treasurer Mrs Harriet Rose, Honorary Secretary Mrs Caroline Black Mr Peter Hoyer Mrs Lorna Nicol Mrs Julie Riddell **Principal Office** Eskdale House Taybridge Road Aberfeldy PH15 2BH **Charity Registration Number** SC011281 **Company Registration Number** SP1850RS
**Independent Examiner** Morris & Young Chartered Accountants 6 Atholl Crescent Perth PH1 5JN
Page 1
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
The executive committee submits its fiftieth annual report together with the financial statements of the charity for the year ended 31 December 2025.
The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), 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).
## **Trustees**
Prof Andrew Calder, Chairman
Dr Alistair Keddie, Treasurer
Mrs Harriet Rose, Honorary Secretary
Mrs Caroline Black
Mr Peter Hoyer
Mr Richard Langrish (resigned 22 May 2025)
Dr. Tom Lough (co-opted 23 September 2025) Mr Keith Macgillivray (resigned 22 May 2025) Mrs Lorna Nicol
Mrs Julie Riddell
## **Objectives and activities**
The Society provides public benefit through the provision of high quality accommodation, support and companionship for lonely or frail elderly people. Eight rooms within Eskdale House are available for this purpose.
The Executive Committee seeks to maximise this public benefit by meeting the needs of both present and future residents through setting charges at levels which reflect current operating cost whilst making due provision for potential large maintenance costs, refurbishment and replacement. Within this overall aim, the Executive Committee endeavours to set charges at levels it believes are affordable by all potential residents so that no one is deprived of an Abbeyfield place because of their limited means. If this aim cannot be met without prejudicing sound financial stewardship other options are investigated for assisting financially distressed residents. In particular, every resident entitled to claim public support is encouraged to do so.
Page 2
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
## **Day to Day Management**
A support plan is drawn up for each resident and is reviewed at least annually.
Day-to-day management of the House is delegated to the House Committee (a sub-committee of the Executive Committee) which meets regularly between Executive Committee meetings and liaises closely with the House Manager and other staff.
All staff receive appropriate First Aid, Fire Safety and other relevant training.
Members of the Executive Committee undertake many executive, administrative and practical functions to enable the Society to provide first-class facilities at as reasonable cost as practicable to the Residents.
The Society has adopted a policy on staff pay which uses the Local Authorities pay-scale structure as a reference plus local employment market conditions. However it is also the Society’s policy to ensure that our lowest paid staff receive at least the Real Living Wage.
All activities are fully in accordance with the aims and principles of The Abbeyfield Society Limited, fall wholly within hostel housing activities as defined by the Housing Act 1974, and have due regard to the Office of the Scottish Charity Regulator’s public benefits guidance.
## **Achievements and performance**
The “Friends” continued to support the weekly games mornings and provide regular in-house Film nights.
Some residents attended the Warm Welcome café on Tuesday mornings in the local church across the road from Eskdale House. The weekly chair-based exercise class in the local Community Cinema was also attended by some residents. The local Ukulele Club paid several musical visits which were much enjoyed by residents, and before Christmas there was an outing to Pitlochry Festival Theatre to see “The Sound of Music”. An outing in July to Fortingall Arts, followed by afternoon tea, and a trip to the Inn on the Tay for lunch, were also appreciated by residents.
A number of events were held at Eskdale House. These included an Open Day and Afternoon Tea in June for residents, their families and friends as well as staff and volunteers. This was very much enjoyed by all as the staff and Friends had prepared delicious food and musical entertainment was provided. In November we once again expanded our usual small fireworks display for the Residents by inviting a number of guests for stovies and mulled wine.
The main refurbishment expenditure in 2025 was a complete upgrade of Room 5, including the provision of a more up to date ensuite shower room with wet wall panelling. The installation of a digital telecare system, linking all residents’ rooms and the door entry system to Hanover Telecare, also incurred substantial expenditure. We were grateful to receive a grant from the SSE Griffin and Calliachar Windfarm fund to cover approximately 50% of the cost of upgrading the pantry, providing more usable storage shelves and a three door fridge, along with a new door and related redecoration and flooring.
Page 3
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
2025 was quite an unsettled year for our residents. Sadly one of the long-term residents died in hospital in June and another resident, who had only been at Eskdale House for a few weeks, died in September, also in hospital. Two of our long-term residents had to move to Care Homes as their needs could no longer be met at Eskdale House.
One new resident moved in in January to Room 8, the suite of two rooms, and another resident moved into the refurbished Room 5 in October. Across the year the overall occupancy rate has been 83.4%, and we had two vacant rooms at the end of 2025. We have placed an advertisement in the local community magazine and resurrected our Facebook page in an effort to market what Abbeyfield has to offer.
We were very grateful to receive a generous donation of £10,000 from the family of a long-term resident who died in 2024. Her family expressed their appreciation of the care she received at Eskdale House, stating that they knew she was well cared for and happy. The family requested that the funds are used for the overall benefit of the residents/building. With this in mind we are planning a refurbishment of the living / dining room involving the provision of new comfortable seating and bright artwork from a local artist on the walls, along with some other minor improvements. As this room is the hub of the house, where residents congregate for meals and for social occasions, we feel that this upgrade will enhance the quality of life for all the residents, as well as providing a cheerful environment for visitors and friends.
The House Manager and Staff have continued to show exceptional commitment and worked tirelessly to continue providing a homely, cheerful and caring environment and excellent food. We are again most grateful for their efforts.
## **Financial review**
The financial results for the year are set out on pages 9 and 10.
There was a surplus for the year of £4,947. This compares with a surplus of £5,627 in 2024, a good outcome overall but the 2025 surplus includes an unspent donation of £10,000. Without the £10,000 there would have been a deficit of £5,053. The deficit reflects: (i) an average occupancy rate for the year of 83.4%, below the budgeted “break-even” of 94%; (ii) above budget refurbishment/maintenance costs of £28,838, off-set primarily by below budget energy and food costs. Refurbishment included (i) the installation of a new front door entry system; (ii) a substantial upgrading of Room 5; and (iii) refurbishment of the pantry part funded by a Griffin and Calliachar Windfarm Fund grant of £3,000.
Page 4
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
The Society aims to keep at least enough within the General Reserves to support six months of expenses in the event of the emergency of a very low occupancy level. Based on the current costs the Committee estimates these would be in the region of £95,061 for 2026 (the equivalent of 6 months rental income) and is pleased to confirm that this amount is available within the General Reserves and the Bank Account.
The Society also aims to keep the House Fabric Reserve at least at the balance of the long-term investments held, to protect against any large repair work which may need to be undertaken in the future, and has been able to achieve this in the current year with the closing reserve being £66,969 – (2024 £66,016).
A third smaller reserve entitled the Comfort Fund is held for spending on fun activities and frivolities for the residents. There is no specific policy for this reserve, but the balance (topped up from donations) as of the year end of £947 (2024 - £1,636) is considered sufficient.
The Executive Committee also decided, in 2018, to establish a “Special Projects” reserve in which any Gibson Trust donations will be held. At the year end the reserve had a balance of £13,615.
The Executive Committee considers that the state of affairs of the Society remains satisfactory, and that the Society continues to be a going concern. However, with an occupancy rate of 83.4% for 2025, the main continuing issue remains securing an occupancy level which is sustainable in the medium to longer term. The Executive Committee will therefore continue to actively pursue potential options for securing and maintaining a viable occupancy rate.
## **Plans for future periods**
The installation of a sprinkler system throughout Eskdale has been put on hold pending further consideration. It is not yet clear what system would justify the very considerable cost (circa £30,000) and upheaval for the residents.
A priority during 2026 will be refurbishing the lounge/dining room using the very generous donation of £10,000 from the family of the late Mairi Taylor.
Major repairs to the roof of Eskdale House may also be required.
Page 5
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
## **Structure, governance and management**
The Society is registered as a “Co-operative and Community Benefit Society” under the Co-operative and Community Benefit Societies Act 2014. It is an exempt charity.
The Society is also registered with Social Care and Social Work Improvement Scotland (commonly called “the Care Inspectorate”) as a provider of Housing Support Services.
In recent years there has been a substantial restructuring of the Abbeyfield movement worldwide and Abbeyfield Breadalbane Society is now a member of the Abbeyfield Societies in Scotland (ASiS), along with thirteen other Scottish Abbeyfield Societies.
The members of the Committee are as stated on the Reference and Administration page. All members of the Committee are volunteers. The Executive Committee, which generally has 8 to 12 members, administers the Society. The Committee meets at least quarterly. The members with specific responsibilities visit the house and/or communicate informally or on a semi-formal basis regularly between meetings. The Chairman is appointed at the Annual General Meeting of the Society and has overall responsibility for the operations of the Society.
New members of the committee are trained by the existing members of the committee as to their legal obligations under charity and company law, the Scottish Charity Regulator’s guidance on trustee duties, the function of the committee and the decision-making processes, recent financial performance and plans for the future. Committee members are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
One third of the Members of the Committee retire by rotation and, being both willing and eligible, offer themselves for re-election at the Annual General Meeting.
## **Financial instruments**
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.
The trustees are conscious of the aim to retain sufficient cash resources to meet the requirements of the charity.
The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables.
The charity has no significant concentration of credit risk.
Page 6
## **Abbeyfield Breadalbane Society Limited**
## **The Executive Committee Report**
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the company's liquid funds will be kept in a combination of bank accounts to enable it to service its everyday financial needs, when they become available.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Executive Committee Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the Constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the trustees of the charity on 1 May 2026 and signed on its behalf by:
**----- Start of picture text -----**
......................................... .........................................
Prof Andrew Calder Mrs Harriet Rose
Trustee Trustee
**----- End of picture text -----**
Page 7
## **Abbeyfield Breadalbane Society Limited**
## **Independent Examiner's Report to the trustees of Abbeyfield Breadalbane Society Limited**
I report on the accounts of the charity for the year ended 31 December 2025 which are set out on pages 9 to 24.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1)which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2)to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...................................... Tracy Borland F.C.C.A., CIPFA (Affill) Morris & Young Chartered Accountants 6 Atholl Crescent Perth PH1 5JN
1 May 2026
Page 8
## **Abbeyfield Breadalbane Society Limited**
## **Statement of Financial Activities for the Year Ended 31 December 2025**
|**Note**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Investment income
4
Other income
Total Income
**Expenditure on:**
Charitable activities
Total Expenditure
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**£**
10,000
159,167
3,407
47
172,621
(167,243)
(167,243)
5,378
(953)
4,425
259,018
263,443|**Restricted**
**£**
3,496
-
-
-
3,496
(3,927)
(3,927)
(431)
953
522
81,267
81,789|**Total**
**2025**
**£**
13,496
159,167
3,407
47
176,117
(171,170)
(171,170)
4,947
-
4,947
340,285
345,232|**Total**
**2024**
**£**
294
167,646
4,687
34|
|---|---|---|---|---|
|||||172,661|
|||||(167,034)|
|||||(167,034)|
|||||5,627
-|
|||||5,627
334,658|
|||||340,285|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17.
Page 9
## **Abbeyfield Breadalbane Society Limited**
## **(Registration number: SC011281) Balance Sheet as at 31 December 2025**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
14
Investments
Cash at bank and in hand
15
**Creditors: Amounts falling due within one year**
16
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
**Total funds**
17|**2025**
**£**
136,892
5,973
141,225
73,408
220,606
(12,266)
208,340
345,232
81,789
263,443
345,232|**2024**
**£**
130,547
4,984
137,818
75,577|
|---|---|---|
|||218,379
(8,641)|
|||209,738|
|||340,285|
|||81,267
259,018|
|||340,285|
The financial statements on pages 9 to 24 were approved by the trustees, and authorised for issue on 1 May 2026 and signed on their behalf by:
......................................... Prof Andrew Calder Trustee
......................................... Mrs Harriet Rose Trustee
Page 10
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended) and with the Registered Housing Association Scottish 1993 Order.
## **Basis of preparation**
Abbeyfield Breadalbane Society Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are presented in Sterling (£) and rounded to the nearest £1.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Turnover recognised under charitable activities comprises of rental and service income receivable.
All income is recognised once the Society has entitlement to the income, it is probable that the income will be recieved and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the Society has been notified of the donation, unless performance 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 time of the donation.
Page 11
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies (continued)**
Grants relating to revenue are recognised as income on a systematic basis over the periods in which the Society recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Society with no future related costs shall be recognised as income in the period in which it becomes receivable.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Society to that expenditure, it is probable that settlement will be required and the amount of the bligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
Charitable activities income includes residents' and tenants' charges. Residents' income is credited to the statement of financial activities for the year in which it is receivable.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## **Taxation**
As a registered charity with HMRC, the Society is exempt from corporation tax as all of its income is charitable and applied for charitable purposes.
Page 12
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies (continued)**
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The cost of minor additions or those costing below £1,000 are not capitalised.
## **Depreciation and amortisation**
No depreciation has been provided against the cost of the Heritable Property.
Provision for deprciation on furnishings was made in earlier years but the decision was made, some years ago, not to provide for futher depreciation. The figure shown under the heading of fixed assets is represented by the orginal cost less residual depreciation.
## **Current asset investments**
The investments held are fixed rate bonds, invested for either 6 months or 1 year, and are valued at market value.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and on deposits.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Society does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 13
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **1 Accounting policies (continued)**
## **Pensions and other post retirement obligations**
The Society operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the Society has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **Financial instruments**
The Society has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the Society's balance sheet when the Society becomes party to the contractual provisions of the instrument.
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities, including creditors and other 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.
Page 14
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **2 Income from donations and legacies**
|Donations and legacies;
General donations|**Unrestricted**
**funds**
**General**
**£**
10,000
10,000|**Restricted**
**funds**
**£**
3,496
3,496|**Total**
**2025**
**£**
13,496
13,496|**Total**
**2024**
**£**
294|
|---|---|---|---|---|
|||||294|
The total income from donations and legacies for the year to 31 December 2024 was treated as unrestricted funds.
## **3 Income from charitable activities**
|Board & lodgings
Coach house|**Unrestricted**
**funds**
**General**
**£**
151,751
7,416
159,167|**Total**
**2025**
**£**
151,751
7,416
159,167|**Total**
**2024**
**£**
160,230
7,416|
|---|---|---|---|
||||167,646|
The total income from charitable activities for the year to 31 December 2024 was treated as unrestricted funds.
## **4 Investment income**
|Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
3,407|**Total**
**2025**
**£**
3,407|**Total**
**2024**
**£**
4,687|
|---|---|---|---|
The total income from investments for the year to 31 December 2024 was treated as unrestricted funds.
Page 15
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **5 Expenditure on charitable activities**
|Salaries, NIC & training
Provisions
Property repairs cyclical
Repairs to property - fixtures &
fittings
Furniture removal
Coach House costs
Comfort fund
Heat & light
Insurance
Telephone
Garden expenses
Misc & admin expenses|**Activity**
**undertaken**
**directly**
**£**
97,622
10,928
3,986
25,345
89
2,152
927
10,697
5,561
2,495
2,204
658
162,664|**Activity**
**support**
**costs**
**£**
-
-
-
-
-
-
-
-
-
-
-
8,506
8,506|**Total**
**2025**
**£**
97,622
10,928
3,986
25,345
89
2,152
927
10,697
5,561
2,495
2,204
9,164
171,170|**Total**
**2024**
**£**
96,751
11,946
4,619
22,329
115
4,064
364
9,487
6,072
2,510
2,173
6,604|
|---|---|---|---|---|
|||||167,034|
£167,243 (2024 - £166,670) of the above expenditure was attributable to unrestricted funds and £3,927 (2024 - £364) to restricted funds.
Page 16
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **6 Analysis of governance and support costs**
## **Support costs allocated to charitable activities**
|**Basis of**
**allocation**
TV licence
Cost
General admin
Cost
Resident's/staff
entertainment
Cost|**Governance**
**costs**
**£**
-
7,119
-
7,119|**Other**
**support**
**costs**
**£**
-
1,137
250
1,387|**Total**
**2025**
**£**
-
8,256
250
8,506|**Total**
**2024**
**£**
172
5,730
702|
|---|---|---|---|---|
|||||6,604|
## **Governance costs**
|Audit fees
Audit of the financial statements
Accountancy & book-keeping costs
Legal fees
Other governance costs|**Unrestricted**
**funds**
**General**
**£**
2,220
2,240
210
2,449
7,119|**Total**
**2025**
**£**
2,220
2,240
210
2,449
7,119|**Total**
**2024**
**£**
2,160
1,658
168
1,241|
|---|---|---|---|
||||5,227|
## **7 Net incoming/outgoing resources**
Net outgoing resources for the year include:
Audit fees
|**2025**
**£**
2,220|**2024**
**£**
2,160|
|---|---|
Page 17
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **8 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
The only payments made to committee members during this year and last related to the occasional purchase of replacement goods and other expenses.
No trustees have received any other benefits from the charity during the year.
## **9 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Other staff costs|**2025**
**£**
93,861
1,511
1,822
427
97,621|**2024**
**£**
92,450
887
1,701
1,713|
|---|---|---|
|||96,751|
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
|Employees|**2025**
**No**
6|**2024**
**No**
6|
|---|---|---|
No employee received emoluments of more than £60,000 during the year
## **10 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £1,822 (2024 - £1,701).
Page 18
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **11 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **12 Tangible fixed assets**
|**Cost**
At 1 January 2025
Additions
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Land and**
**buildings**
**£**
211,274
-
211,274
82,449
-
82,449
128,825
128,825|**Furniture**
**and**
**equipment**
**£**
1,722
7,931
9,653
-
1,586
1,586
8,067
1,722|**Total**
**£**
212,996
7,931|
|---|---|---|---|
||||220,927|
||||82,449
1,586|
||||84,035|
||||136,892|
||||130,547|
Page 19
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **13 Current asset investments**
## **Other investments**
|**Other investments**|||||
|---|---|---|---|---|
|**Cost or Valuation**
At 1 January 2025
Additions
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024
**14 Debtors**
Prepayments
**15 Cash and cash equivalents**
Cash on hand
Cash at bank||**Other**
**investments**
**£**
137,818
3,407
141,225
141,225
137,818
**2025**
**£**
5,973
**2025**
**£**
52
73,356
73,408||**Total**
**£**
137,818
3,407
141,225
141,225
137,818
**2024**
**£**
4,984|
|||**2025**
**£**
5,973
**2025**
**£**
52
73,356
73,408|||
|||||**2024**
**£**
-
75,577|
|||||75,577|
Page 20
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **16 Creditors: amounts falling due within one year**
|**16 Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Other creditors
Accruals|**2025**
**£**
2,672
2,326
7,268
12,266|**2024**
**£**
3,068
2,316
3,257|
|||8,641|
Page 21
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
|**17Funds**
**Unrestricted funds**
General reserves
Share capital
**Restricted funds**
House fabric/development & care reserve
Comfort fund
Special projects
Entertainment fund
Refurbishment fund
**Total restricted funds**
**Total funds**|**Balance at 1**
**January**
**2025**
**£**
258,969
49
259,018
66,016
1,636
13,615
-
-
81,267
340,285|**Incoming**
**resources**
**£**
172,621
-
172,621
-
238
-
258
3,000
3,496
176,117|**Resources**
**expended**
**£**
(167,243)
-
(167,243)
-
(927)
-
-
(3,000)
(3,927)
(171,170)|**Transfers**
**£**
(953)
-
(953)
953
-
-
-
-
953
-|**Balance at**
**31 December**
**2025**
**£**
263,394
49|
|---|---|---|---|---|---|
||||||263,443|
||||||66,969
947
13,615
258
-|
||||||81,789|
||||||345,232|
Page 22
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
|**17Funds (continued)**
**Unrestricted funds**
General reserves
Share capital
**Restricted funds**
House fabric/development & care reserve
Comfort fund
Special projects
**Total restricted funds**
**Total funds**|**Balance at 1**
**January**
**2024**
**£**
255,229
49
255,278
63,765
2,000
13,615
79,380
334,658|**Incoming**
**resources**
**£**
172,661
-
172,661
-
-
-
-
172,661|**Resources**
**expended**
**£**
(166,670)
-
(166,670)
-
(364)
-
(364)
(167,034)|**Transfers**
**£**
(2,251)
-
(2,251)
2,251
-
-
2,251
-|**Balance at**
**31 December**
**2024**
**£**
258,969
49|
|---|---|---|---|---|---|
||||||259,018|
||||||66,016
1,636
13,615|
||||||81,267|
||||||340,285|
Page 23
## **Abbeyfield Breadalbane Society Limited**
## **Notes to the Financial Statements for the Year Ended 31 December 2025**
## **17 Funds (continued)**
The specific purposes for which the funds are to be applied are as follows:
The house fabric/development and care fund holds long term investments and is to be used for large repair costs.
The comfort fund is held for spending on fun activities and frivolities for the residents.
The special project fund holds any Gibson Trust donations.
## **18 Analysis of net assets between funds**
|**18 Analysis of net assets between funds**||||
|---|---|---|---|
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
136,892
74,256
64,561
(12,266)
263,443
**Unrestricted**
**funds**
**General**
**£**
130,547
137,818
65,310
(8,640)
325,035|**Restricted**
**funds**
**£**
-
66,969
14,820
-
81,789
**Restricted**
**funds**
**£**
-
66,016
15,251
-
81,267|**Total funds**
**2025**
**£**
136,892
141,225
79,381
(12,266)|
||||345,232|
||||**Total funds**
**2024**
**£**
130,547
203,834
80,561
(8,640)|
||||406,302|
## **19 Related party transactions**
There were no related party transactions in the year.
Page 24