REGISTERED COMPANY NUMBER: 2124RS REGISTERED CHARITY NUMBER: SC015946 OSCR Accounts REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 FOR ABBEYFIELD BALLACHULISH SOCIETY LIMrrED Azets Audit Services Chartered A¢¢ountants Statutory Auditor Accountants TInIUM I King's Inch Place RfT¢w Glasgow PA4 8WF
ABBEYFIELD BALLACHULISH SOCIETY LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEhlBER 2024 Page Report of the Trustees Report ofthe IndepeDdetst Audit(tyr$ Staternent of FlnAnelal Aetlvltles Bilante Sheet io Clsh Flow Statement Notes to the Cash Flow St#lemeTrt 12 Notes to the Flnanclal StAtemeDII 13 to 22
ABBEYFIELD BALLACHULISH SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEIBER 2024 The irnsle¢s, who are the Executive Committ¢c for the purEM)ses of th¢ Co-operative and Community Benefit Societies Aci 2014. pre5enl their annual irusl¢¢s' r¢port toge(h¢r with the finan¢ial statements of the ¢harity for the year ending 30 Sepiemb¢r 2024. The fJJianLial stalenien15 comply with Ih¢ CharitJe5 and Trust¢¢ Jnvcstment {Scotland} Act 2005. th¢ Chariiies Accounis {Scollandl Regulalions 200() la8 amcndedl, its rnles. and Accounting tjnd Reporting by Charitics-. Statement of Recominended PTaciice applicabl¢ lo charities preparing thciT accounts in accordancc with thc Financial Reporting Standard applicable in ihe UK and R¢public of Ireland (FRS 1021. OBJECTII'ES AM) ACTIVITIES Objectives and aims Abbeyfjcld Ballaehulith is establish¢d for (he purpvsc of managing Abbeyficld House at Park Road Ballachulish. which provides nursing care. residcniial care. day care and gen¢ral hou5in8 for older people. Its objectiYc$ are.. To provide a strucwred quality service using professional as5essmcni skills, p¢rsonal and holistic care planning, r¢viewin8. monitoring at)d ¢valuaiing constantly 10 improve the service. To facilitate re¥ular cljeni m¢¢tings and committee me¢tings lo provide a democraiic sy5t¢m for suggeslioms and activc iDvolTr'emeni in the Tunning of Abbeyfield Ballachulish. Its aims are io.. promote and maintain a high qualiiy of lif¢ foi Ihe service users,. promote a cornfonable, secure, homely and weltoming environment for all service users: encourage independence and retain individualiry; aciiv¢ly promote service users. rights as citiy.ens, allowing dignity, privacy and choice.. involve service u%ers in the active rnnning ofall services and in any major deci5Lons re¥arding this: mainthtt) access to and involvement in the wider tommuniry of South Lochaber", encourage family and fn.ends io visit and assisi in personal care,. and promote anti diseriminatory pra¢tt¢c. Significant 8Cti*'iti¢s Carc Home S¢rvic¢ The Carc Home has 35 sclf-conuined, mod¢rn en-suiie bedrooms providing a mixiure of rcsidcniial, dementia and nursing care according to 5ervic¢ user's needs. A further 2 bedrooms ar¢ available for the provisions of internediate care, working in partncr$hip with NHS HighLand. The service operates on a 24-hour seven day a week basis giving very high Standard ofcarc to all its service Urs. Day Care The day care c¢ntrc catcrs foi up to l 0 5¢rvicc users daily Monday to Friday. It is open io 811 m¢mbers of our local community partieularly those. but not exclusively. with assessed needs through Health & Soci&l Car¢ - private seThice users art welcome. There are a divcw range of aciivities at the day care centre and wc endeavouT io meei ¢he prefcr¢n¢¢$, intcrc5t alld needs of all Ihos¢ who attend. OWF.C.TIVES AND ACTIVITIES Significant gftiTr'iti¢s Medi¢al Sen'ie As w¢ll a5 24 hours nursing scrvic¢s Abbcyfield B311achulish provide5 medical suppon services through a range of clinic5 in partncr5hip with NHS Highland. Tht5e are for podiatry, dietary and hearing impairnient servites. All service USCTS havc. where appTopriat¥. rcady ac¢cs5 to other services as wcll, which include carc & r¢pair sen'ices, occupaiional hcalih and aids and equipment.Th¢r¢ are also diabeiic and m¢ntal health clinics which, where nessry. are held with the support of a video confercncing facility whlch offcrs live links to h05pilal elinics gnd consultant5. Tl1¢ local General Practilioncr surgcry 15 within walking distsnc¢ of the building and offers a diSnS)llg service when r¢quiTed. Community nursing s¢rviccs 4Lrc lo¢aied in th¢ building and suppon the nursing scrvices provided io our r¢sid¢ntial clients and those allending froTn the Community to day ¢arc. Page I
ABBEYFIELD BALLACHULISH SOCIETY LIMITED REPORT OF THE TRIISTEES FOR THE YEAR EliDED 30 SEPTEfvIBER 21124 STRA TEGIC REPORT Aehieiement performance Charltable aetivities The Trusiees consider ihat the p¢rformance of th¢ cornpany this year coniinues ac a satisfaeiory level. Rovm OLcupancy durin¥ the y¢ar a$ 9/0 and this level has been maintained. The general house5 had for older clients urtenily OLClJPted an oc¢upan¢y rate for the year of l OOO/.. Durin8 the year, the managemeni and Tnjstees Continued io make progress in delivering a comp¢teni care setvice for Ilie Ballachuli5h cornmunity and the surrounding area. The December 2022 inspection by the Care Inspectorate graded the C#Te home wilh grade .$ in the two areas inspeci¢d namelJ' wellbeing and leadership, with th¢ remaining thrcc area5 slill graded at 6. Day care has not been inspected since 2019 and remains ai grade 6. A full report for all scTh'iees at Abbeyfield Ballachulish Can bc found ai hnp:/1'wW.¢arelnSPeCtordlc.cQm. The chatily coniinues tu work N'cry Closely with NHS Highland. Health and Social Care and thc Carc Inspectorate to ensure that h2gh sitsndard of care is d¢livered to older people in the cornmunity. Fittallcial review FinAlltial p051tion ThL statement of financial actii'ities shows a surplus for th¢ y¢ar of £204,422 12023 £240,169). At the end of the ycar, the at¢umulat¢d funds amountcd 10 £4,017.40012023 £3,812.7981. IrtVe5tment polieTr objettiv Under the memorandum and articl¢s of association, thc socicty has the power to any inv¢stments which thc Trustces scc fit. Reserves polic} The preseni level of funding is adcquatc to support the continuation of Abbeyfield Ballachuli5h and the Tnlstees consider thc f]n8n¢ial position r¢quir¢s Continuous moniioring Lo cnsurc thc society remains viable. lllternal finaCLaI etsntrtsls The Truslccs arc rc5ponsible for thc Soci¢ty'5 syskrn of inl¢rnal finan¢ial control and have review its ¢ff¢ctiveness from intotmation provided by managcnicnt staff. Any systcm ¢an only provid¢ rcasvnable and not ab501ul¢ assurance agaii)st maliyial niisslatcmenl or Ioss. Thc fJJiai)¢ial control sy>tcni wiihin th¢ SociLty 15 fundamcnlally simple and appioprÈatc to thc 5izc and complcxity of thc organisation It includes a combinaiion of regular review or rinancial results ¢ompaTcd with an agreed budgcl and authorisation of all ¢xp¢ndittLr¢ by s¢nior siaff and Ilie Trustees Principal risk5 and un¢trtAinties Wc are regularly updating our politics and procedures In line with current 8ov¢rnm¢nl guidance. Financi*l and risk managemcDt objectli'es #nd policSe$ Tli¢ Truslccs ac11clY rLviLw Il)c n)ajor ri5k5 which the ton)pany faces and b¢li¢v¢ that by maintaining reserves at about the curr¢nt l¢v¢ls, combin¢d with an annu(Il rcvivw of expLndituic and incotne they will relain control of ihe finances. The trust¢¢s hav¢ also ¢xamin¢d other opcralional and business risks faced by the company and confirni thai ihey have established 5yStem5 10 rniiigatc any stgnifi¢ant Tisks. Future plxns The Trustee5 will continue lo ¢xplor¢ wiabl¢ options which will help lo increase income streams and reducc ¢osls. STRUCTURE, GOVERNANCE AND %qANAGEMEYT Charit). eonstitution #nd governing document Thr cliarily 15 L()nstituicd as a 'Rebiistered Society, re¥istered under th¢ Co-op¢raiive and Comniunity Benefit Societies Aci 2014. Th¢ liabiliiy of m¢inb¢15 LS IiTniled io £1. The society was incorporaled wiih solely chariiable objeLI5, and is gL)v¢med by lis rules. The company is recognised as a charity by the Office of th¢ Scoiiish Chaiily Regulator. its ref¢r¢nce number being SC(tr15946. Page 2
ABBEYFIELD BALLACHULISH SOCIETY I.IMITED REPORT OF THE TRUSTEES FOR THE YEAR EYDED 30 SEPTENIBER 2024 STRUCTURk, GOVERNANCE AND MANAGEMEYT The board of Trustees The Trustees of ihe society are also charity irusiees for the PUTPO5e of chari¢y law. Th¢ Clection of mcmber5 to th¢ board of trnstees is in accordance with the rules of the So¢i¢ty. The rnaximum number of Iruslees at any time is 9. Ai each general meeting all trustees who have b¢¢n appointed by the dircc¢ors since the last annual gcn¢ral rnccting arc required 10 re(ire from office, but aTe ihen eligible for re-election. Out of thc T¢maiDing trustees, onc-third is T¢quir¢d to retire annually from office but are eligible for re•eltIon. Trustees bnrtg iheir own skills to the sociery and induction consisis of becoming familiar wilh Abb¢yfiLld standard5 and the requirements of ¢urrent legislation as oveTS¢W by the various Tegulaiory bodies. REFERENCE AND ADMINISTKiTtVE DETAILS Re%isiered Comp8ny number 2124RS (Not spccifie(iIOthcrl ReRlstered Ch8rity number SCO15940 Re%istered offi¢c Park Road Balla¢hulish Flighland PH49 4JS Auditor5 A7.cis Audit Ser¥iees Chan¢T¢d Accountants Siaiulory Auditor Accountanl5 TilaniuTn I King's Inch Place Rcnfrew Glasgow PA4 8WF Bankers Royal Bank of Scoiland 6 High SITeei Fori William PH33 6AS Pa8e 3
ABBEYFIELD BALLACHULISH SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR EYDED 30 SEPTE%IBER 21b24 REFERENCE AJ'D ADMINISTRATIVE DET AILS Solicitors Maclniyre & Co 38 High Streei Fort William PH33 6AT Ae¢ount#nts Total Accounting Lid. Moncrieff House l O Moncreiff Street Pai51cy PA3 2BE er STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees are responsiblc for preparing thc financial 5taicment5 in accordancc with applicjblc law and United Kingdom Accounting Sthndard5 (Unilcd Kingdon) Gcncrally Acccplcd Ac¢ounting Practicc). As a Rcgistcred Soci¢ty registercd under thc Co-opcrativc and Community Bcnefjt Society Aet 2014 th¢ Trusiccs are rcquirL71 lo pr¢par¢ fintsnclal staten)cnts for cach financial ycar which gavc a true and fair view of the stat¢ of the affairs of the Soci¢ty and of Ihc sutplus OT deficit of thc Rcgi5tcrcd Socjcty for thc year. In preparing tliese, th¢ Trus(c¢s arc rcquiicd to.. select suitable accounting policies and apply them conststcntly: observe thc methods and principlcs in thc SORP applicablc to thc Rcgistered Socicty: make judgements and estimatC5 that arc rca50nablc and prudcnl. staic whether applicable accounting standards and statcnicnts of recornmende41 practice have been ftsllow¢d.subje¢t to any dcparturc5 disclosed and explain¢d in th¢ financial staicmcnis., and prcparL the fancial s¢atemcnis on the ¥oing concem basis unles5 it is inappropriat¢ to pr¢sume that the Rcgis¢cred Sociery ivill continue in business. Thc Trnslccs arc rcsponsible for keeping pioper accounting recoid5 which disc105e with r¢a50nable accuracy ai any limc the fLnan¢i)I position of ihc Society and lo cnable tliem to ensure Ilial Ilie financial slatem¢nis comply with ihe Rcgistcrcd So¢icty' regulation undcr ihc coperative and Comn)unity Benefit Societies Act 2014. Tli¢y are responsible for safcguarding th¢ ass¢lb of ¢hc Sociciy and hencc for laking rcasiinable sieps for Ihc prevention and d¢l¢¢lion of fraud and othcr irr¢gularilics. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Each of the p¢rsons who is a tste¢ of thc board al Ihe daic approval of this repori confirms that.. So far as the trustee i5 aware, there is no r¢l¢vaJ)t audit infomialion ,hICh thc Regisiered Society's auditors are unaware. and The Iruslee lia5 taken all the steps that they ouglil lo liave taken as a InJsi¢L in order 10 make themself aware of any relevant audit information and to establish th21 the Registered Society'5 audiiors are aware ofihat information. AUDITORS The auditors, A7ets Audit Services. H'ill be proposed for re-appointment at the forthcomtng Annual General Meeting. Pa¥e 4
ABBEYFIELD BALLACHULISH SOCIETY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEI¥IBER 2024 Report of ihe trustees, incorporating a strategic rewL approved by Order of the board of tnist¢¢5. as the company dir¢ciors, on I l March 2025 and signed on the board's behalf by: Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ABB£YFIELD BALLACHVLISH SOCIETY LIMITED l)pinion W¢ have audil¢d the finan¢ial 5talement5 of Abbe)'field Ballachuli5h Society Limiled Iihe 'society'l for tlic y¢ar ¢nded 3Q Scpternber 2024 whicl) comprise the Statement of Fjnancial Activities. lh¢ Balancc Sheet. the Cash Flow Statcmcnt and notes to the financial slatemcnts. including a 5urnmary of 51gnilicant accountinb policie5. The financial r¢porting franiework ihal has been applied in their preparation is applicablt law and United Kingdorn AccounlÈng Standards (Uniled Kingdoim Generally Accepted Accountin¥ Praclicel. In our opinion the fjnancial 5talements'. give 2 true and fair )eW of the slate of the society'5 affair5 as ai.lo Seplember 2024 and of ils incoming resource5 and application of re50ur¢e5. including ils income and expendiNre, (or the year ilien ended., ha¢ been properly prepared in accordance wilh United Klngdom Generally Accepied Accounting praclices.. and havc bcen prcpared in accordance wtth the requirements of ihe Co-operative and Commtsnilies Bencfii Socieiies Act 2014. the Charities #nd Trustees Invesimeni IS¢oiland) Act 2005 and rcgulation S of Ihe Charities Accounis (Scoiland) Regulaiions 2nn6 las amended). Basis for opinlo W¢ conducted our audil in acclirdance wilh InleTnalional Siandards Audiling IUK) IISAS IUKII and applicablc law Our rcsponsibilities under thosc 51andard5 ai¢ further described in llie Auditors, responsibililies for thc audit of the financial siateTnerhtS Section of OUT report. We are independ¢nl of the cl)ariiable ¢ompan)' in accordance '1th rhe ethical requirements that are releNant 10 our audii of Ihe financial $13iemenis in the UK, includins. the FRC'S Ethical Standard. and we have fvifilled our other eihical responsibiliiies In accordance with ihese requirements. Wc bclievc that the audil evidence we have obiained Is sufficient and appropriaie to provide a basis for our opinion. Cofjeluslott$ relatAng to golng c•neerD In auditing thc financial siatetnents. we have concluded ihai ihe board of Irusiees {Ihe l)oard'l use of the going ¢on¢ern basis of accounting in The preparation of ihe financial siarements is appropriate. Based on the WOTk we have perfomed, we have noi idenlifjed any maierial uncertainties relaiing io events or eondilion5 that. individually or culleciivelj.. may casi significani doubi on the sociery's ability to coniinue as a going conccrn for a period of at least Iwelve months ftom when ihe fancial si8iements are auihorised for issue. OUT responsibiliiies 3nd the SPOnSibl]it1es of the board with respect to going concern are des¢ribed the relevant scetions of thig report. Other inftsrmation Thc board arc responsible for the other information. The other inftsrnwtion comprise5 the infom)ation ineludcd in the Annual Report. oihcr than the financial statements and our Report of th¢ Indcp¢J)d¢nl AuditQTS iheTeon. Our opinion on the financial stat¢m¢nts does not ¢ov¢r th¢ oth¢r information and, ¢x¢¢pt to the extent othenvisc explicitly siat¢d in our rcport, w¢ do not ¢xpres5 any form of a$5uran¢¢ ¢on¢lusion th¢rwn. In connection with our audit of th¢ financial sLat¢m¢nts. our Tesponsibility is to rcad the otli¢r infom)ation and, in doing so, consid¢r whethcr thc other inforniation is matcrially illconsistcnt wilh ihc financlal Siatcmcnts OT our knowlcdgc obtaJn¢d in th¢ audit or othcrwisc appcars to bc Tnaterially tni5$1ated. If M'e identify such matcri81 Inconsist¢nci¢s or appar¢nt mat¢rial misstat¢m¢nts, wc arc rcquircd lo dctcrniinc whcthcr thi5 givcs rise to a matcrial mi55tat¢m¢nt in th¢ rinancial stat¢ments thcmsclve5. If. bascd on thc ivork wc havc pcrfomied. we conclude ihat thcrc is a material rnisstaicm¢nl of tliis othcr infomiation. 'C ar¢ rcquired to rq)ort ihat f8cI. Ive have nothing lo report in this regard. Matiers tstt Ivhith n'c are requlrcd to report by cxeeption Ye have nothing lo ieport in respect of the following n)aiiers where thc Co-opcraiivc and Community Benefit So¢ieti¢s Act 2014 and Ihe Charilies Account5 Iscotlandl Rc¥ulaiions 2006 las amcnded} requires us to rcport lo vou if, in our opinion.. the infomjation given in the Repori of ihc Trnstecs is inconsislenl in any material rcspcct with the financial siatcmcnts.. or Ihc chari¢ablc company has not kept propcr and ad¢quat¢ accounting r¢cords.' OT Ihc financial stat¢m¢nts ar¢ not in agrecrncnt with thc a¢¢ounting records and rcturns., or wc havc nol received all thc inforniation and ¢xplanations wc r¢quir¢ for our audit. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ABBEYFIELD BALLACHULISH SOCIETY LIMITED Responsibilities of trustee$ As explained morc fully in the tnJ5tee' Tesponsibiliti¢s slat¢m¢nl. the trustccs are responsibl¢ for the prcparation of the rinancial staiements and for being satisfied tha¢ rh¢J giv¢ a tru¢ and fair vicw. and tor su¢h inicrnal control a5 the Irusiees dclemiin¢ is necessary lo cnablc th¢ pr¢paration of linancial statcments that are fTCC from maierial missiaiemeni. wli¢ther due lo fraud or Lttor. In pr¢paring thc financial staiements, the trustces are rc5ponsiblc for assetssing ilie society's ability to continue as a going conccrn, disclosing. as applicablc. nJatt¢r5 rclatcd to going concern and using tlie going concertl basis of accounting unless the trustees eithcr intend to liquidat¢ the society or to ccasc opeTaiions. or hav¢ no Teali51ic aliemativc bui lo do so. Our responsibilities ftsr the audit of the financial Statements We have be¢n appointed a5 auditors under Scction 44(1)Ic} of the Charities and TThst¢c Investment (Scotlandl Act 2005 and repori in a¢¢ordanee with the Act and rclcvanl r¢gulations made or having eff¢¢t th¢under. Our objectives arc to obtain reasonable assuran¢e about whether ihe financial slat¢n)¢nls a5 a whole aTe frcc from material misslaletnI. wheiher due lo fraud or error, and io issuc an auditor'5 report that includes our opinion. Reasonablc assurance 15 a high level of assurance but is not a guarant¢¢ that an audit conducled in accordance wilh ISAS IUKI will alway5 delect a mai¢rial niisslatemenl when it exisis. Misstalemenls can ari5c fr(Trm fraud or error and are considcrcd material if. individually or in Ihe aggTegaie, Ihey could reasonably be expected to influcn¢¢ ihe economic decisions of users iaken the basis L)f these financial statements. Ext¢nt to which the audii was considered capable of deiecting irregularili¢s, including frdud Irrcgularilies, including fraud, are instat]ces of non-compliance wilh laws and reg15110ns. We design proceduTes in line wilh our iesponsibiliiies, outlined above and on ihe Financial Rcporlin8 Couneil's website, io delect maicrial rnisstatcmenls in respect ofirregulariti¢s. including fraud. We obtain and updaie our undersianding of ihe entity, lis acliviti¢s, it5 Colllrol environment. and likcl). filre devclopmenis. including in r¢l&iion to thL legal and regulatory fTainework applicable and how the entity hs complying with ihai frae'0rk. Rased on this understanding. we identify and asses5 the risks of maierial misslaicmcnt of the financial Statements, whether due lo fraud or CTtor, design and perfomi audit procedures responsive to thos¢ risks, and obtain audit evidence ihai is sufficient and appiopriaie to provide a basis for our opinion. This includes ¢ODsidcrdtion of the risk of acts by the entity that were contrary io applicable laws and regulations. including fraud. In response lo ihe risk of irregularities and non-complianc¢ with laws and regulaiions, including fraud, we designed proccdurcs which included.. Enquiry of managemcni and thosc charged with governance around actual and poteniial litigation and Clairns a5 WCII as acwal. suspccted and allcged fraud: Rcviewing minutes of mcctings Lbfthose charged with govcrnance: Assessing thc cxtent of compliance with ihe laws and r¢gulation5 considered io hav¢ a direct material effect on the financial stat¢m¢nts or thc operaiions of the aociety through enquiry and inspc¢iion', Reviewing financial statcmcnt disclosures and iesting to supporting do¢umeni31ion to a5gss ¢ornplianee with applicable laws and T¢gulatiOn5'. Pcrforniing audit Work 0cr thc risk of mat)agement bias and ovcrride of controls. including testing of journal ct)trics and i)th¢r adillstmcnt5 for appropriat¢n¢ss. ¢valuating the business raiionale of significanl Iranstsctions outside ihc norn)al cour5c of business and rcvicwing o¢counting esiimaies for indi¢ators of potential bias. Bccause of ihc inhcrcnt lirniiations ol. an audii. Ihere is a rÈsk that we will noi dete¢1 all irregulariiie5, including those leading io a malcrial misstat¢tncni In the financial stat¢incDts or noA4ompliance with rcgulation. This risk increases the MOTC that compliancc wilh a law or regulation is rcrnoved from the event% and transactions reflected in the financial staiemcnls. as w¢ will bc less likcly to b¢com¢ awarc of instanccs of non-compliancc. The risk tsf not de¢ting a maierial misstat¢m¢Dt resulting from fraud is high¢r than for onc rcsuliing from ¢rror, a5 fraud may involve collusion. forgery, intcnlional omissions. mi5reprcscnialions, or the override of intcmal control. A further description of our responsibili¢ies for th¢ audit of thc fitwicial statcm¢ntS 15 locatcd on the Fitvancial Rep(7riing Council's website at www.frc.org.uk/audttor5rc5POTtsibilities. This description fornis part of our Repon of the Ind¢p¢nd¢ni Auditars. Page 7
REPOR T OF THE INDEPENDENT AL:DITORS TO THE TRUSTEES OF ABBEYFIELD BALLACHULISH SOCIETY LIMITED Use of our report This repon is m?de solely to the soci¢ty's members, as 8 body, in accordance '11h Section 87 of the Co-OP¢Taiive and Conimuniry Benefit Soci¢ii¢s Act 2014. and R¢gul#tion 10 of th¢ Charities Accounts {Scoilandl Regulations 201)6. Our audii work has been und¢rtak¢n so thai we might state io iht soeiety ihosc matters we are required io state io it in an audiior5' report and for no purpos¢. To the lIest exieni pern)itied by la,, we do noi acc¢pt ()r o$sum¢ responsibiliry to anyone other than the for our audit work, for ihis repojt or for the opinions we hai'e fonned. for and on behalf of Azets Audit Services Chartered Accouniants SiaDJiOry Auditor Eligible to act as an auditor in lerrns of Seclion 1212 of th¢ Comp2tti¢s Act 2(K16 AccOunniS Titanium I Kin¥'s Inch Place Renfrew Glasgow PA4 8WF I l Nfarch 2025 Page 8
ABBEVFIELD BALLACHULISH SOCJETY LIMITED STATEMEYf OF FINANCIAL ACTIVITIES {INCORPORATING AN INCONIE AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED JO SEPTEMBER 2024 2024 Toial funds 2023 Totsl nds Unre5Cted funds Resiri¢t¢d furtd Noies Ih'COTrqE AND ENDOWMENTS FROM Don&titin$ and legacies 1,419 1,419 142,796 Ch*rltxble ¥Jctlvltles Care activirics 2.235,387 2,235,387 1,881,933 InN'¢sthienr income Other income 14,899 14,899 10.710 4,584 17,070 Total 2.262.415 2,262.415 2.046 383 EXPENDITURE ON Chxritable #ctii.Itles Care ¥tivitie$ 2,057.993 2.057 993 .806.214 NET INCOME 204,422 204,422 240,169 RECONCILIATION OF FUhs Toial funds brought forward 1.116,574 2,696.404 3,812,978 3.572,809 TOTAL FUNDS CARRIED FORM'ARD 1.320 996 2.696.404 4,017 400 3.812978 The notes forn) pan of these financial siatements Page 9
ABBEYFIELD BALLACHULISH SOCIETY LIMrrED BALANCE SHEET 30 SEPTEMBER 2024 2024 2023 Noies FIXED ASSETS Tangible assets 3,595,179 3,562.630 CURRENT ASSETS Siocks Dobtors Cash in hand 12 9(K) 37.254 9W 60,425 584.532 s26.60 645.857 CREDITORS Amounts fall3ng du¢ within on¢ y¢8r 14 264.251 {237.888) ET CURRENT ASSETS 562.349 TOTAL.4SSETS LESS CURRENT LL4BILITIES 4,157,528 3,970,599 CREDITORS Amounts falling due after more than one year 15 1140.1281 1157.6211 NET ASSETS 4.017,400 3.812.978 FUNDS Unrestrlued fijnds R¢siri¢ied llds 19 1.320,996 2.696 404 1,116,574 2,696.404 TOTAL FUNDS 3.812.978 Th¢ fJDancial statements were approved by the Board of Trustees and authoris¢d for issuc on I l March 2025 and were sIlled on its behalf bs-. The note5 fom) pan of these financial sts*rn¢nt5 Pag¢ 10
ABBEYFtELD BALLACHULISH SOCIETY LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEIIIBER 21124 2024 2023 Notes Cash IIow5 from operntlttg A¢tivliles Cash generAied fTom operations Interest p&id 307,011 12 205) 283,159 14,3461 Nct cash tffovidcd by operating activities 268.813 CAsh flow5 from Inveiting 8¢ti4tl PuTchas¢ of tangibl¢ fix¢4 ass¢ts Inierest T¢c¢iv¢41 181.1991 14.899 177.699) 4.584 Net cash used in investing a¢tivxties 66,300) 73 1151 Csh flows from fjnaneing ctivitie$ Lo)n repaimenis in J'ear 24 5921 48,5581 Net cash used in financing activitie5 24.592) 48.5581 Change In csh &Dd ¢a$h equlvalents In tlje reportlnE Perlod CAsh And cash equlvolent$ at the beglnnlng of lh¢ r¢portkng perlod 203,914 147,140 584.532 437 392 C#$h And eash equlvaltnt5 It the end of the reportfing period 788.446 584.532 The notrs forni pan of ihese financial ststements Pagell
ABBEyELD BALLACHULISH SOCIETY LIMITED NOTES TO THE CASH FLOII, STATEMEhT FOR THE YEAR EFIDED 311 SEPTEIBER 2(124 RECONCILIA TION OF NET INCOME TO NET CASH FLOW FRONI OPEIL4TINC ACTIVITIES 2024 2023 Net Ineome for the reportlnl perlod {*s per th¢ St4¢emoDI of Fin8n¢l•l Activitiesl Adjustment5 for: Depreciaiion charges Loss on disposal of fixed assets Iniere51 TeceiNed Inieresi paid Decrease,.'lincreasel in debtors Increase in CredIrS 204,422 240.169 43,944 4,706 114.8991 12205 23.171 33,462 38.841 14,5841 14.346 40.829) 35.216 Net ¢a$h prnvided by optratiott% 307.011 283.159 ANALYSIS OF CHANGES IN I¥ET FUNDS At 1110123 Cash flow AI 3019124 Net cash Cash at bank And in hand 584.532 203.914 788,446 584.532 203914 788,446 Debt Deb15 falling due witliin l year Debts falling due aft¢r l year (25,1721 157.621) 7,099 17893 (18,0731 140,1281 182,793) 158 Total 228.506 630245 The notes forn] pan of Ihese financial 51aiements Page 12
ABBEYFIELD BALLACHULISH SOCIETY LIMITED NOTES TO THE FINANCIAL sTATF.lETs FOR THE YEAR ENDED 30 SEPTEfvIBER 2024 ACCOUT¥TING POLICIES B4si$ of pr¢parin% the fin&nelal statemeDt$ Thc financial siaicmcnts have been prepared in accordance wilh Accounting and Reporting by Chariiies.. Siaiemeni of Recommended Praciice applicable to charities PTeparing Ilicir ac¢ounts in accordance wilh the Financial Reporting Standard applicable in ihe UK and Republic of Ireland IFRS1021 (effective l January 2015) Charities SORP IFRS 1021, Ihe Financial Reponing Standard applicable in th¢ UK and Republic of Ireland {FRS 1021. Abbeyfield Ballachlllish Society Limited m¢eis the definition of a public benefit enlily under FRS 102. The chariiy is regist¢r¢d under the Co-operaiiNe aijd Cornmunily Benefit Soci¢tics Acl 2014 {Reference Number 2124RSI and is r¢gistered chaiily wilh the Offjce of the Scoitish Chariry Regulalor {OSCR} (Charity Number SCll159461. Asscis and liabilitlC5 arc initially recognised ai historical cosr or iransaction value unless oihenvise stated in ihc rclevant accounting policy notelsl. Prepar4tiTrn of g¢¢ount$ on a goiDg eon£erD bAsiy A large portion of tli¢ charity's Incomc curtlY col'crs staff costs which have increased due io ihe it)creas¢ in the Ni ational Living Wage and the incr¢ag in cn]ployers national insurance. This has a significant impact on the viability ol the hornc and its upkccp. In addition tale home providcrs have been forced io accept a Inarginal uplifi of 2.8•/o to thc funding of carc home placemenis made by Local Authorities. when 4°/0 is recognised as the figurc lor ¢ar¢ provider5 to continuc in busincs5. Th¢ Irust¢es arc addrc55ing thes¢ issues by changing flgts on its premiscs to provide residential care. This will increase its capacity from 3n to 37 and would make the home mgr¢ l'iable. Critical &ctounting JdgementS & kcv wurces of estlm4tifjn unc¢rtaiDtv In prcparing thesc financithl siar¢ments. thc trustces have not made aDV erilical accouniing judgements or utilised any k¢y sourc¢s of estimation ut)ccrtainty. In¢ome Income 15 recognised whcn Ihe charity ha5 entitlcment to the funds. any pcrforniance conditions atta¢hed to thc itemls) of income havc bcLm m¢t, it j5 probablL thai Ihe incomc will be received and th¢ amount can bc measured reliably. Donallons, are rccognis¢d wh¢n th¢ Trusl has en notified in writing of btsth the amount and settl¢m¢nt datc. In the ei'enl thai a domlion is subjclt to conditioÉJs ¢hai Tequirc a Icvel of pcrformance before the chaTity is ¢ntitlcd to the funds, Ihe incomc is d¢fcrred and not rccogniscd until ¢ither those conditions are 7]Y m¢t. or thc fuifilnicnt of Iliose conditions is wholly within Ihc control of th¢ charity and it is probable that thos¢ conditions will be fulfllled in the reporting P¢TlOd. Income from govemmeni and other grant8, whLihcr '¢apital' grants 01 'reiienue' grants. is recogniscd whcn tl)c Chariiy has eniitlcmcni 14) the fund5, any PLrfvrnian¢¢ conditions attached lo thc grants have becn mct, it is probable ihai Ihe incom¢ will be receivcd and ihe amounl can be mcasured reliably and is not dcfcrrcd. All grdnis received are includ¢d as income in the the Siai¢mcnt of Financial Activities. Inieresl on ndS Iicld on deposit is includcd whcn receivable and the amouni can b¢ mcasurcd rcliably by the charity., this 18 nornully upon nOlJficaiion of ihe ini¢r¢sl paid or payable b), Ihc Bank. Housing accommodation is income received during th¢ year frotn general housing. Nursing and rcsidcntial carc repTesents the amout)ts charged for nursing. residential and day care serviccs proi'id¢d in the ycar, and is recognised on a delivered basis. INThere inc()me is r¢¢¢iv¢d in advance. il 15 defLrrcd uiilil tli¢ ¢rileria for incon)e recognition are rn¢L. Other income preseIS Ihuse items not (allit)g into any other heading. Page 13 continued...
ABBEYFIELD BALLACHULISH SOCIETY LIMITED ,NOTES TO THE FifiAN'CIAL STATEMEfTS- eontinlled FOR THE YEAR ENDED 30 SEPTEIIBER 2024 ACCOUPTING POLICIES- contiDved Expenditure Expenditure is recogniscd onc¢ thcr¢ 15 a legal or constructiv¢ obligation lo make a paymeni io a third party, it is probable ihai settlemeni will be required and ihe amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Expendiwre on cliaritable activities includes the ¢osts of a¢tiviii¢s undertaken to funher ihe purposes of the charity and their associaied support Costs. O¢hcr expendiwre represents those items noi falling into any other heading. Irrecoverable VA T is Charged as a ¢ost against the aciiviiy for which the expetyiiture was incurred. Allocation and app¢>rtionm¢nt of costs Support costs arc Ihosc fun¢iions that assisi the work of the charity but do not directly undertake chanlablc gclll'lties. Support cosis includc back office Costs. financc, pcr80nncl, pa)roll and goi'emancc costs M,liicli support the chariry's pr0MM¢S and aciivitics. Thesc costs havc bc¢n allocated to cxpendiiurc on charitable T8ngible fixed gSSft$ Dcprcciation is provided ot the following annual rotes in QTd¢r to WTlt¢ off ¢a¢h assct over its esiimatcd u5cful Freehold propcrty Fixtur¢s and fittings Motor v¢ht¢lcs not provid¢d 20 In on cost and IOQ/o on cost 25*10 on rcdllcing balancc Ho1ng Assoctation grant% and other grant% foT capital expenditure on housing properties received in prior accounting P¢Ti()ds wcr¢ d¢duct¢d from th¢ ¢ost of housing propcrtl¢s on tli¢ fa¢¢ of Ihc balance sheci. No adjustni¢nt w'as niadc on transition to FRS102 a5 thc ie5uliing net book value wa5 a5%5s¢d io bc cquivalcnl 10 th¢ fair value of the property. Property is carri¢d at fair value based on Cu¢1 market value5 being achieved for sal¢5 of homes with similar number of beds. This is rel'iewed annually by the Trustees wilh any LTiipairtnent or uplift lg r¢flecied through Ihe Slalement of Financial Activitie5. Stocks Stocks are valued at Ihe lower of cost and nei realisable value, after making due allowance for ob501ele and slow movlng iiems. TaxatloTh The charity is excmpt from COJPOTaiion lax on its charitabl¢ activities. Fund gccounti•g Unrcstricicd funds ar¢ available to spend un a¢iii'iti¢s Ilial furtl)er any of the purpos¢s ofchariiy. Designated funds are unrestricted funds (Ff the charity which the tTU5tee5 have decided at their dtscreiion to sei aside to use for a specific purpose. Reslricted funds are donation5 which the donor has specified are 10 be solely used for particular areas of the harity's work. Pension costs and other post-retlrement benefits ExislinbT employees of Ihe charity were eniitled 10 join ilie The Flexible Reiiremeni Plart. a tnoney purchase defined ci)niribuiion pension scheme managed by The Penbions Trust wliich is funded by Contributions from employee and employer. Page 14 continued...
ABBEYFIELD BALLACHULISH SOCIETY LIMITED NOTES TO THE FINANCIAL ST ATEMENTS- continued FOR THE YEAR ENDED 30 SEPTENIBER 2024 ACCOUNTING POLICIES- contined Pf nsion to$ts and other post-r¢tirement benefiis Contributions payable io ihe ¢haritablc company's pension scheme are charged 10 the Statement of Financial AciivitjC5 lll thc period to which they relate. Cash 8t bank and In hand Cash at bank and cash In hand includes cash and shon term highly liquid invesiments wilh a short rnarity of three m(Trnths OT less from the date of acquisition or opening of the deposit or similar accouni. Debtors Tradc and other debtots are recognis¢d at the settlement amount due after any discouni offered. Prepayments are valu¢d at thc amount prepaid net of any discounts due. Creditors and provision$ C'rcditors and provisions arc r¢¢ognised whcrc ihe charity has a prcsenl obligation resulting fr(Trm a past iVCtIt that will probably resulr in ihc transfer of funds to a ihird party and Ihe amtsuni due io seiile th¢ obligation can bc mcasured or estimaied reli)bly. CT¢ditors provisions are nornthlly tecognised ai iheir seLtlem¢nl amount aftcr allowing foT any discounrs du¢. DONATIONS AND LEGACIES 2024 2023 Dona¢ion5 1,419 142 796 INTr. rESTMENT IliCOME 2024 2023 Deposit account interc5t 14,899 4.584 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Acriviry Carc activities Carc a¢tiviti¢s Housing a¢cornmodation Nursing and residenlial care 63,486 2.171.901 67,743 ,814,190 2,235,387 1.881933 CHARITABLE ACTII'ITIES COSTS Support osts Isee nole 61 Direct Costs Totsls Care activities 2,052,773 2.057.993 Page 15 continued..
ABBEYFIELD BALLACHULISH SOCIETY LIMITED NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued FOR THE YEAR ENDED 311 SEPTEMBER 2024 SUPPORT COSTS Governanc¢ cost5 Care a¢tiviti¢s 5.220 NET INCOMEI(EXPENDITURE) Net incomellexpenditure} is stAied after chargingl{creiliting}'. 2024 2023 Auditors, remuneration Depreciation- owned assets Deficit on disposal of fixed assets 5.220 43,944 4,706 4.620 38.841 TRUSTEES. REMUNERATION AND BENEFJTS Thcw w¢re no Irusle¢s' r¢mun¢ration or other benefits foT the year ended 30 Sept¢rnT 2024 nor for the year t]dcd 30 September 2023. Truitees, expenses The charity met Indi)dUal expenses incurred by trustees for seT*ices provided to the charity during the year by reimbursement of the trustees. During the year one trustee was reimbursed trayelling expenses totslling £261 (2023 - £4481} The Soeiery has arrdnged indemnity insurance for ihe lrnsttts. STAFF COSTS 2024 2023 Wages and salaries Social securiry cosis Other pension costs 1,504,181 109.854 26,764 1.303,294 87,740 1.640,799 1410 790 The average monthly number of ernployees during the year was as follows.. 2024 57 2023 53 No employ¢¢s r¢¢civ¢d ¢molum¢nts in cxc¢ss of £60.0. The trustee5 consider the key managernent personnel of the society to be the manager and the office staff whose ¢rnployec benefits total £167.839 {2023.. £154.0641. Pagc 16 continued...
ABBEYFIELD BALLACHULISH SOCIETY I.JMITED NOTES TO THE FINANC.IAL STATEMENTS- continued FOR THE YEAR ENDED 30 SEPTEMBER 2024 io. COMPARATIVES FOR THE STATEMKNT OF FINANCIAL ACTIVITIES UTbreslricied funds Rcstrieted fund Total funds Ir*'COME AND E,DoWMENTs FROM Donations and l¢ga¢ics 142.796 142.796 Charit8blc artivitiés Care aciivities 1,881,933 1,881,933 Ini'cstmcnt incorn Oihcr income 4,584 4.584 17,070 Total 2.046,383 2.046,383 EXPE)DITURE ON Charitable ¥¢tivili¢s Caie aciivities 1,806,214 1,806.214 NET INCOME 240,169 240.169 RECONCILIATION OF FUNDS Total funds broughi ltsrward 876,405 2.696,404 3,572,809 TOTAL FUNDS CARRIED FORIVARD 1,116,574 2.696.404 3,812,978 TANGIBLE FIXED ASSETS Fixture5 and fLttin8S Freehold property Motor vehicles Totals COST At l October 2023 Addilions Disposals 3,317,248 603,125 81,199 162.071} 57,190 3,977.563 81.199 162,0711 At lQ September 2024 3.317.248 522.253 57.190 3.896,691 DEPRECIATION Al l October 21)23 Charge for year Eliminated on disposal 3(.322 41.799 157,3651 48.611 2.145 414.933 43.944 1157,3651 At 30 Septen)ber 2024 250,756 50,756 301,512 NET BOUK VALUE At 30 Sepicmber 2n24 3,317,248 271,497 6,434 3,595,179 At 30 Sepiemb¢r 2023 3,317,248 236.803 8,579 3,562,630 Page 17 Continued...
ABBEYFIELD BALLACHULISH SOCIETY LIMITED 'OTES TO THE FIN'ANCIAL STATEMEl*TS- ¢oDtthued FOR THE YEAR EI%DED 30 SEPTE)IBER 2024 12. STOCKS 2024 2023 Stocks 900 900 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Reni receivable Prepayments and accrned income 14.312 22.942 31.925 28.500 37254 60.425 14. CREDITORS: AMOUNTS FALLIryG DUE IIITHIN ONE YEAR 2024 2023 Bank loans and overdrafts {see note 16) Other loans (see note 16) Trade crediiors Social securiry and other t¢$ Accrnals and deferred in¢ome 18.073 18.183 6,989 36.556 21,138 155,022 30,001 21,833 264.251 237.888 DEFERRED INCOME Donaiions ond legacies Chariiable aciivities Movemtnt 2024 Movemeni 2023 At sian of yeaT Amounts released io incoming Tesources Amounts deferred in year 99 125 (99,1251 118,030 99.125 (99,1251 118030 61,380 161,3801 99,125 A¢ end of y¢¥r 118.030 118,030 99,125 Deferred charilies aciiviiies income comprises of income from housing accommodaiton and care services received in advance. Page 18 continued...
ABBEYFIELD BALLACHVLISH SOCIETY LIMITED NOTES TO THE FINAh'CIAL STATEMEh'TS- ct>DtiThued FOR THE YEAR ENDED 30 SEPTEMBER 2024 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Bank loans Is¢c noic 161 140.128 157.621 16. LOANS An analysis of (lie Tmaluiily of loans is given b¢low'. 2024 2023 Arnounts falling due within onc ycar on demand.. Bank loans Oihcr loans 18.073 18.183 6.989 18,073 25.172 Amoun15 falling between one and two years.. Bank loans- 1-2 years 107,413 34.433 Amounts falling due betwccn two and fiv¢ ycar5'. Bank loans - 2-5 years 32,715 63,046 Amounts falling due in more than five years.. Repayable by it)stalmeDts'. Bank loans mL)re 5 yr by instal 60,142 17. SECURED DEBTS The following secured dcbts are includcd within creditors.. 2024 2023 Bank loans 158,201 175804 The Roy31 Bank of Scotland loan is secured by a first standard security over Abbcyficld Housc and a bond and floaiing charg¢ over the society's assets. 18. AIYALYSIS OF NET ASSETS BETIVEEN FUNDS 2024 Total funds 2023 Total runds Unreslricted funds Resiricted fund Fixed assets Current asscts Current liabilitie5 Long iemi liabilitaes 898,775 826,60n 1264,2511 140,1281 2,696,4( 3,59S,179 826,60(1 {264,2511 14(1,1281 3,562,63Q 645.857 1237,8881 1157,6211 1.320,996 2,696.404 4,017,4(x> 3,812,978 Pagc 19 continued...
ABBEYFIELD BALLACHULISH SOCIETY LIMITED NOTES TO THE FITr4AI*CIAL STATE%IEYTS- ¢ontlnued FOR THE YEAR EYDED 30 SEPTEIIIBER 2024 19. MOVENIENT IN FUNDS Transfers between fijnds At IIIOQ3 nlovemenl in fund5 At 3019124 Unrestrieted funds Revenue reserve Dcsignated reserves Fixed asset re5eTve 885.324 223.191 8.059 204,422 2.015 1.091,761 223.191 6.044 2,0151 .116.574 204.422 1.320.996 Resiriet¢d fund$ R¢stricied Tescrv¢s 2.696,404 2,696.404 TOTAL FUNDS 3.812,978 204,422 4.017.400 Nei mov¢m¢nt in thnds. inclu(kd in th¢ above are as follows.. Incoming T¢SOU¢s R¢sourcc5 ¢xp¢ndcd Movcment in funds Unre$tri¢ted futsd$ R¢v¢nu¢ r¢%rY 2.262,415 12.057.993) 204.422 TOTAL FUNDS 2.262.415 2.057.993} 204.422 Comp8T•tiv¢$ for movement in funds N¢t mov¢me in funds Transfer5 tw¢en funds Ai IIIOQ2 At 3019123 Unrestrlcted funds Re¥enue reserve Deslgnated rcsctves Fixed asset rescNe 762,469 103.191 10,745 120.169 120.OIK) 2.686 885,324 223,191 8.059 (2.6861 876,405 240.169 1,116,574 Re5trlrted fundi RestricRd Teserves 2.696,404 2,696.404 TOTAL FUliDS 3.572.809 240.169 3.812 978 Page 20 coniinued...
ABBEYFIELD BALLACHULISH SOCIETY LIMITED NOTES TO THE FINANCIAL ST ATEMENTS- conlittued FOR THE YEAR ENDED 30 SEPTEMBER 2024 19. MOVENIENT IN FUNDS- contiDu¢d Comparative net movement in funds. included in the above are as follows.. In¢gming r¢50UTCe5 Resources expended Movement in funds UDf¢strieted funds R¢vcnuc rcscrve Designat¢d rc5crves 1.926,381 120,000 11.806,214) 12n,169 120,1)no 2.IM6,383 1,806.214) 240,169 TOTAL FUNDS 2.046,183 1,806.2141 240,169 A currcnt )'car 12 months and prior year 12 month5 combit)ed position is as follows: Net movemeni in funds Transfers between funds At 1110122 Ai 3019124 Lnrestri¢t¢d funds Rcvcnuc r¢scrv Dcsignat¢d rcs¢rvcs Fix¢d as%t r¢%TV 762.469 103.191 10.745 324.591 120.000 4,701 .091,761 2?.3.191 6.044 4.701) 876,405 444,591 1,320.996 Restrlcted funds Resiricled r¢seTves 2,696,404 ?,696,404 TOTAL FUNDS 3,572,809 444,591 4,Q17.4(M) A Cuent yeoT 12 months and prior year 12 months cornbincd net movcment in funds, in¢luded in the above are as follows: Incomii)g resourc¢s Rcsollrc¢s expcnded Moyernent in funds Unr¢stri¢t¢d fund$ R¢enue r¢s¢rve Designated r¢serves 4.188.798 120.000 (3.864.207) 324.591 120,000 4,3Q8,798 13,864,207) 444.591 TOTAL FUNDS 4,308,798 {3,864,2071 444,591 Flxed asset rescrve Donations and grant5 obiaiDed for the purchase of fixed assels are relea5¢d over th¢ useful lil¢ of ihos¢ a5S¢ts. The amount Teleased is equal io their annual depreciation char8e. Deslgnated resf rv¢ The designaied reserves represent sums set aside by the Society's Execuiive Commilt¢¢ to financ¢ major repairs as defined in the ac¢out]ting policies. Pabie 21 continued...
ABBEYFIELD BALLACHLTLISH SOCIETY LIMITED NOTES TO THE FINANCIAL STATETrIENTS- ¢onilnued FOR THE YEAR ENDED 30 SEPTETrIBER 2024 19. OVEMENT IN FUliDS- eontlnued Restrleted reserves The resiricttd resetves represeni ffijnding received 10 fmance Ihe building Cosi of the Sociery's properties. 20. EMPLOYEE BENEFIT OBLIGATIONS The Society operaies a defined Contribuiion pension scheme. The assets of the %heme are held separai¢ly from those of the society in an Andependenily administered fund. Th¢ pension cosl charge rewesenis contributions payable by the Society to the fund and amounts to £26,76412n23 £19,756). Ineluded iti Creditors are p¢nsion Contributions owed by the Charity at 30th September 2024 of £5.537 12023 £4,652}. 21. RELATED PARTY DISCLOSURES There were no relaied party transocrions for the }'ear ended 30 September 2024. Page 22